2016-0228
INTRODUCED BY: LARRY COCHRAN, PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO.
Title
A resolution approving the issuance, sale and delivery of not exceeding $10,800,000 of General Obligation Refunding Bonds of Hospital Service District No. 1 of the Parish of St. Charles, State of Louisiana.
Body
WHEREAS, Hospital Service District No. 1 of the Parish of St. Charles, State of Louisiana (the "District") proposes to issue not exceeding $10,800,000 of General Obligation Refunding Bonds (the "Bonds") for the purpose of refunding all or a portion of the District's outstanding (i) General Obligation Bonds, Series 2007; (ii) General Obligation Bonds, Series 2009; and (iii) General Obligation Bonds, Series 2009A, and paying the costs of issuance of the Bonds; and,
WHEREAS, the District has requested that this Parish Council approve the issuance, sale and delivery of said Bonds of the District; and,
WHEREAS, as required by Article VI, Section 15 of the Constitution of the State of Louisiana of 1974, it is now the desire of this Parish Council to approve the issuance of said Bonds of the District.
NOW, THEREFORE, BE IT RESOLVED, by the St. Charles Parish Council, acting as the governing authority of the Parish of St. Charles, State of Louisiana, that:
SECTION 1. In compliance with the provisions of Article VI, Section 15 of the Constitution of the State of Louisiana of 1974, and in accordance with the request of the Board of Commissioners of Hospital Service District No. 1 of the Parish of St. Charles, State of Louisiana, this Parish Council hereby approves the issuance, sale and delivery of not exceeding $10,800,000 of General Obligation Refunding Bonds of said District, to mature not later than March 1, 2029, be secured by unlimited ad valorem taxes levied and collected annually in excess of all other taxes on all the property subject to taxation within the territorial limits of the Issuer, shall bear interest at a rate or rates not to exceed 5% per a...
Click here for full text