2007-0179
INTRODUCED BY: ALBERT D. LAQUE, PARISH PRESIDENT
(BOND COUNSEL)
ORDINANCE NO.
title
An ordinance authorizing the issuance of not exceeding $2,750,000 of Parish of St. Charles, State of Louisiana Revenue Bonds (Ram Tool Project), Series 2007; approving the form and authorizing the execution and delivery of an Installment Sale Agreement and a Trust Indenture to secure the Bonds; approving the form and authorizing the publication of a Notice of Intention to Sell Bonds and a Notice of Public Hearing; awarding the Bonds to Compass Bank; authorizing the appropriate officers of said Parish to execute the aforementioned instruments and all other documents and certificates deemed necessary in connection therewith; and providing for other matters with respect to the foregoing.
Body
WHEREAS, the Parish of St. Charles, State of Louisiana (the "Issuer" or the "Parish"), is authorized and empowered by law, including particularly the provisions of Sections 991 to 1001, inclusive, of Title 39 of the Louisiana Revised Statutes of 1950, as amended (the "Act"), to issue its revenue bonds for the purpose of using the funds derived from the sale thereof to acquire, purchase, construct or improve and sell, lease or otherwise dispose of industrial plant sites and industrial plant buildings, and necessary property and appurtenances thereto; and
WHEREAS, pursuant to and in accordance with the provisions of the Act and an Installment Sale Agreement for each series of Bonds (hereinafter described) (the "Sale Agreement"), by and between the Issuer and MHH Properties LLC, an Alabama limited liability company (the "Company"), the Issuer shall acquire from the Company and reconvey to the Company a warehouse and distribution facility and related facilities constituting nonresidential real property (including fixed improvements associated with such property) to be located in the geographical limits of the Parish in the Gulf Opportunity Zone as provided in the Gulf...
Click here for full text