2025-0282
INTRODUCED BY: MATTHEW JEWELL, PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO. ___________
Title
A resolution giving preliminary approval to the issuance of not exceeding Four Million Dollars ($4,000,000) of Limited Tax Bonds (ARC) of the Parish of St. Charles, State of Louisiana, and providing for other matters in connection therewith.
Body
BE IT RESOLVED by the St. Charles Parish Council (the "Parish Council"), acting as the governing authority for the Parish of St. Charles, State of Louisiana (the "Parish"), that:
SECTION 1. Preliminary approval is given to the issuance of not exceeding Four Million Dollars ($4,000,000) of Limited Tax Bonds (ARC) (the "Bonds") of the Parish, pursuant to Part II of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority (the "Act"), for the purpose of constructing facilities associated with The ARC of St. Charles ("The ARC") for all people with intellectual and developmental disabilities in the Parish and paying the costs of issuance thereof, said Bonds to be payable from and secured by an irrevocable pledge and dedication of the funds to be derived by the Parish from the levy and collection of a 0.66 mills tax authorized at an election held on October 14, 2023 (such rate being subject to adjustment from time to time due to reassessment), which the Parish is authorized to impose and collect through 2035 (the "Tax"). The Bonds will bear interest at a rate or rates not to exceed 6.00% per annum, and will mature no later than March 1, 2035.
SECTION 2. Application is hereby made to the State Bond Commission, Baton Rouge, Louisiana, for authority to issue, sell and deliver the Bonds.
By virtue of applicant/issuer's application for, acceptance and utilization of the benefits of the Louisiana State Bond Commission's approval(s) resolved and set forth herein, it resolves that it understands and agr...
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