RESOLUTION NO. RS2000-375
Initial resolution determining to issue general obligation bonds of The Metropolitan Government of Nashville and Davidson County in an aggregate principal amount of not to exceed One Hundred Forty-Four Million Dollars ($144,000,000) to be financed by the ad valorem levy on property in the general services district and in an aggregate principal amount of Thirty-Five Million Five Hundred Thousand Dollars ($35,500,000) to be financed by the ad valorem levy on property in the urban services district.
WHEREAS, it is necessary and in the public interest of The Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") to issue general obligation bonds (the "Bonds") in an aggregate principal amount not to exceed $144,000,000 to be financed by the ad valorem levy on property in the general services district ("GSD Bonds") and $35,500,000 to be financed by the ad valorem levy on property in the urban services district ("USD Bonds") for the purposes hereinafter provided (both GSD Bonds and USD Bonds are sometimes collectively referred to herein as the "Bonds"); and
WHEREAS, pursuant to Section 9-21-205, Tennessee Code Annotated, prior to the issuance of any general obligation bonds, the governing body of the local government proposing to issue said bonds shall adopt a resolution determining to issue the same; and
WHEREAS, for the purpose of complying with the requirements of said statute, the Metropolitan County Council of the Metropolitan Government adopts this resolution.
NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNTY COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY, AS FOLLOWS:
Section 1. Purpose. For the purpose of providing "the Public Works Projects" shall mean all or a portion of the funds to pay for the Public Works Projects hereinafter described, or to reimburse the Metropolitan Government for funds previously spent for said projects, including, without limitation, through inter-fund borrowing relating to the same, and to pay legal, fiscal, architectural, administrative, construction program or projects management costs, including, without limitation, supervisory and administrative costs necessary to carry out the program or the projects contemplated by this Resolution, and engineering costs incident thereto and incident to the issuance and sale of the Bonds described herein. The Metropolitan County Council hereby determines to issue the GSD Bonds in an aggregate principal amount of not to exceed $144,000,000 and the USD Bonds in an aggregate principal amount of not to exceed $35,500,000. The Public Works Projects to be financed with the GSD Bonds include, without limitation, acquisition of real and personal property, construction, equipment, renovation, and improvements, as well as any other authorized use of bond proceeds now existing or hereinafter authorized by applicable law relating to: (1) Various Metro buildings, including, without limitation, the Metro Courthouse, Ben West Building, and Howard School; (2) Certain Metro-wide public improvement projects to bring certain public right-of-ways and public facilities into compliance with the Americans with Disabilities Act; (3) A Metro-wide storm early warning system; (4) Equipment, renovations and improvements to portions of the Public School system for the purchase of school buses; (5) Equipment, construction and improvements to certain police precincts within the General Services District; (6) Infrastructure improvements for the Hope VI funded public housing project; (7) Safety improvements at the Municipal Auditorium; (8) The acquisition of certain equipment and facilities for the public transportation system; (9) Equipment, construction and improvements to Centennial Park, which includes, without limitation, improvements and renovations to the Parthenon; (10) Improvements to the roadway system within the Metro Parks and the construction and renovation of tennis courts; (11) Various public improvement or infrastructure projects undertaken by the Department of Public Works of a capital nature, including, without limitation, various sidewalks in the General Services District, improvements to the Bordeaux Landfill, certain acquisition, construction and infrastructure improvements to Music Row; (12) Acquisition, construction, and improvements for the Criminal Court Residential Drug Treatment Facility; (13) Construction, renovation and expansion of the Hill Detention Center; (14) Construction and replacement of the McCabe Golf Course Clubhouse; (15) Providing funding for the Traffic Calming Pilot Program; (16) Refurbishment of the Knowles Home; (17) Improvements to certain energy production facilities, which includes, without limitation, the Nashville Thermal Plant; (18) Retrofitting of the Health Department HVAC Lighting and Plumbing Conservation Project; and (19) Certain technological upgrades for the Public Schools. The Public Works Projects to be financed with the USD Bonds includes, without limitation, the acquisition of real and personal property, construction, equipment, renovation, and improvements, as well as any other authorized use of bond proceeds now existing or hereinafter authorized by applicable law relating to: (1) The public right-of-ways to bring them in compliance with the Americans with Disabilities Act; (2) Improvements to sidewalks in the Urban Services District; (3) Replacement equipment for the Fire Department; (4) Equipment, construction, and improvements to certain fire stations in the urban services district; (5) Drainage remediation and improvements; (6) Communications equipment, and (7) Improvements to the Due West Landfill. With regard to both GSD Bonds and USD Bonds, the Public Works Projects to be financed by the Bonds include the acquisition or construction of certain public art as required by Ordinance No. BL2000-250.
Section 2. Authorization. The Bonds described herein shall be issued pursuant to the Charter of the Metropolitan Government and/or the Local Government Public Obligations Act of 1986, as amended, codified as Title 9, Chapter 21, Tennessee Code Annotated, and no referendum or election shall be required for the issuance of the Bonds unless a petition for an election relating to their issuance is filed within the time and in the manner provided for in said statute.
Section 3. Use of Proceeds for Technology. No proceeds from the issuance of the Bonds as provided herein shall be used for the acquisition, purchase or upgrading of any technology unless and until the Director of Finance has conducted a cost-benefit or other economic analysis as to the most efficient use of such proceeds and has authorized the expenditure of the same.
Section 4. Interest. The maximum rate of interest of the Bonds shall not exceed seven percent (7%) per annum.
Section 5. Source of Payment. The principal of, premium, if any, and interest on the Bonds shall be payable from and secured by ad valorem taxes to be levied on all taxable property in the General Services District of the Metropolitan Government, without limitation as to time, rate or amount. The Bonds will be direct general obligations of the Metropolitan Government, and the full faith and credit of the Metropolitan Government, together with the taxing power of the Metropolitan Government as to all taxable property in the General Services District for the GSD Bonds and the Urban Services District for the USD Bonds, will be hereby irrevocably pledged.
Section 6. Publication of Resolution. The Metropolitan Clerk is hereby directed to cause this Resolution, upon its adoption, together with the statutory notice required by Section 9-21-206, Tennessee Code Annotated, to be published in full once in a newspaper published and having general circulation in the Metropolitan Government.
Section 7. Effective Date. This resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Howard Gentry & Tony Derryberry
Bonds |
Total |
GSD |
|||||||
Project ID # |
GSD |
USD |
School |
Bonds |
Fund Bal |
4% Fund |
Fed/Sate |
Total |
|
Schools |
|||||||||
Deferred Maintenance |
98BE001 |
25,000,000 |
25,000,000 |
25,000,000 |
|||||
Technology |
97BE018 |
15,000,000 |
15,000,000 |
15,000,000 |
|||||
ADA Compliance |
00BE009 |
10,892,800 |
10,892,800 |
10,892,800 |
|||||
School Buses |
97BE012 |
4,453,000 |
4,453,000 |
4,453,000 |
|||||
Total Schools |
- |
- |
55,345,800 |
55,345,800 |
- |
- |
- |
55,345,800 |
|
Neighborhoods |
|||||||||
Sidewalks - GSD |
95PW0A03 |
1,000,000 |
1,000,000 |
1,000,000 |
|||||
Sidewalks - USD |
99UW006 |
10,028,000 |
10,028,000 |
10,028,000 |
|||||
ADA Compliance - GSD |
- |
||||||||
Non -Compliant Ramps |
92PW002A |
143,000 |
143,000 |
143,000 |
|||||
Intersection Improvements |
98PW027 |
225,000 |
225,000 |
225,000 |
|||||
Roadway Improvements |
97PW068 |
625,000 |
625,000 |
625,000 |
|||||
ADA Compliance - USD |
00UW012 |
2,979,000 |
2,979,000 |
2,979,000 |
|||||
Street & Other Improvements - GSD |
- |
||||||||
Traffic Calming |
97TP005 |
200,000 |
200,000 |
200,000 |
|||||
Matching Funds - Bike Paths Pilot Project |
98PW006 |
30,000 |
30,000 |
30,000 |
|||||
Lighting Upgrades |
98PW046 |
500,000 |
500,000 |
500,000 |
|||||
Street & Other Improvements - USD |
- |
||||||||
Drainage |
- |
||||||||
Apex |
99UW005F |
1,000,000 |
1,000,000 |
1,000,000 |
|||||
Kerrigan |
OOUW001 |
1,000,000 |
1,000,000 |
1,000,000 |
|||||
Matching Funds |
- |
||||||||
ATIS |
99UW002 |
350,000 |
350,000 |
350,000 |
|||||
East Bank River Path |
00UW002 |
500,000 |
500,000 |
500,000 |
|||||
Parks Playground Equipment |
00PR009 |
500,000 |
500,000 |
||||||
Parks / Greenway Master Plan |
n/a |
500,000 |
500,000 |
||||||
Centennial Park |
- |
||||||||
Roadways |
98PR204 |
500,000 |
500,000 |
500,000 |
|||||
Parthenon Restoration |
87PR600B |
3,500,000 |
3,500,000 |
3,500,000 |
|||||
Library Materials & Maintenance |
- |
||||||||
New and Replacement Books |
89PL001 |
1,400,000 |
1,400,000 |
||||||
Critical Deferred Maintenance |
94PL003 |
79,400 |
79,400 |
||||||
MTA Buses & Equipment |
00MT004 |
2,907,400 |
2,907,400 |
2,907,400 |
|||||
Hope VI Infrastructure |
99HA005 |
1,000,000 |
1,000,000 |
1,000,000 |
|||||
Total Neighborhoods |
10,630,400 |
15,857,000 |
- |
26,487,400 |
500,000 |
1,979,400 |
- |
28,966,800 |
|
Public Safety |
|||||||||
Courts |
|||||||||
Metro Courthouse |
00FI003 |
18,710,700 |
18,710,700 |
10,000,000 |
28,710,700 |
||||
Ben West Building |
00FI002 |
14,960,800 |
14,960,800 |
14,960,800 |
|||||
North Nashville Police Precinct |
|||||||||
Full Planning |
95GS003 |
330,000 |
330,000 |
330,000 |
|||||
Dickerson Road Fire Station |
00FD011 |
200,000 |
200,000 |
200,000 |
|||||
Animal Control and Care Facility |
96HD009 |
171,800 |
171,800 |
||||||
Fire & Emergency Equipment |
00FD007 |
4,400,000 |
4,400,000 |
4,400,000 |
|||||
800 MHz Radio System - Non-Emergency Radios |
00GS004 |
1,592,534 |
1,592,534 |
||||||
Jails, Planning & Design |
00SO003 |
2,585,500 |
2,585,500 |
||||||
Total Public Safety |
34,201,500 |
4,400,000 |
- |
38,601,500 |
- |
11,764,334 |
2,585,500 |
52,951,334 |
|
Life / Safety Issues |
|||||||||
Storm Sirens |
00GS003 |
588,300 |
588,300 |
675,000 |
1,263,300 |
||||
Old Tom Joy School |
n/a |
- |
200,000 |
200,000 |
|||||
Municipal Auditorium |
96MA001 |
1,000,000 |
1,000,000 |
1,000,000 |
|||||
ADA Compliance |
00FI001 |
5,000,000 |
5,000,000 |
5,000,000 |
|||||
Total Life Safety Issues |
6,588,300 |
- |
- |
6,588,300 |
200,000 |
- |
675,000 |
7,463,300 |
|
Restoration / Maintenance |
|||||||||
Restoration and Renovation |
|||||||||
Howard School |
00FI004 |
9,655,900 |
9,655,900 |
9,655,900 |
|||||
Old Metro Office Building |
00FI004 |
3,741,700 |
3,741,700 |
3,741,700 |
|||||
222 Building |
00FI004 |
292,400 |
292,400 |
292,400 |
|||||
Critical Maintenance |
|||||||||
General Services |
94GS006 |
450,000 |
450,000 |
||||||
Parks |
92PR012 |
400,000 |
400,000 |
400,000 |
|||||
Parks - Tennis Courts |
99PR012 |
695,000 |
695,000 |
||||||
Nashville Thermal |
00NT001 |
1,400,000 |
1,400,000 |
1,400,000 |
|||||
Public Works |
|||||||||
Maintenance |
|||||||||
Signals - T & P |
92TP001 |
500,000 |
500,000 |
500,000 |
|||||
Bridges - Rehabilitation |
88PW001 |
500,000 |
500,000 |
500,000 |
|||||
Bridges - Replacement /Repairs |
96PW001 |
1,500,000 |
1,500,000 |
1,500,000 |
|||||
Drainage |
84PW028B |
1,000,000 |
1,000,000 |
1,000,000 |
|||||
Demonbreun Street Viaduct |
98PW016 |
1,000,000 |
1,000,000 |
1,000,000 |
|||||
Bell Road/Smith Springs Intersection |
97PW028 |
1,200,000 |
1,200,000 |
1,200,000 |
|||||
Neely's Bend Road Extension |
00PW011 |
800,000 |
800,000 |
800,000 |
|||||
Deferred Maintenance Assessment |
n/a |
100,000 |
100,000 |
||||||
Other Restoration / Maintenance |
|||||||||
Social Services - Knowles Home Energy Project |
00HR003 |
231,000 |
231,000 |
231,000 |
|||||
Sheriff - Jails |
00SO002 |
169,200 |
169,200 |
||||||
Police |
n/a |
15,000 |
15,000 |
||||||
Social Services |
00HR002 |
165,000 |
165,000 |
||||||
Environmental |
|||||||||
Due West Landfill |
98UW032 |
1,035,700 |
1,035,700 |
1,035,700 |
|||||
Bordeaux landfill |
00PW025 |
655,500 |
655,500 |
655,500 |
|||||
Total Restoration / Maintenance |
22,876,500 |
1,035,700 |
- |
23,912,200 |
100,000 |
1,494,200 |
- |
25,506,400 |
|
Technology |
|||||||||
Metro-Wide Strategic Plan |
n/a |
500,000 |
500,000 |
||||||
Total Metro-Wide Strategic Plan |
- |
- |
- |
- |
500,000 |
- |
- |
500,000 |
|
Total New Projects |
74,296,700 |
21,292,700 |
55,345,800 |
150,935,200 |
1,300,000 |
15,237,934 |
3,260,500 |
170,733,634 |
|
Approved Capital Outlay Notes |
|||||||||
Music Row Infrastructure Improvements (R99-1622) |
98HA008 |
3,500,000 |
3,500,000 |
||||||
Criminal Court Residential Drug Treatment Facility (R99-1639) |
99ST001 |
3,000,000 |
3,000,000 |
||||||
Hill Detention Center Renovation/Expansion (R99-1640) |
99SO004 |
3,000,000 |
3,000,000 |
||||||
McCabe Golf Course Clubhouse Replacement (SR99-1654) |
99PR014 |
650,000 |
650,000 |
||||||
Traffic Calming Pilot Program (R99-1668) |
97TP005 |
300,000 |
300,000 |
||||||
HVAC/Lighting/Plumbing Conservation Retrofit (R2000-140) |
00HD002 |
1,580,000 |
1,580,000 |
||||||
USD Fire Dept. SCBA Breathing Equipment (R99-1641) |
97FD002 |
1,000,000 |
1,000,000 |
||||||
USD Fire Stations Roof Replacement (R99-1641) |
90FD001 |
360,000 |
360,000 |
||||||
USD Fire Ladder Trucks (R99-1641) |
95FD014 |
1,560,000 |
1,560,000 |
||||||
USD Fire Pumper/Tankers (R99-1641) |
89FD007 |
1,080,000 |
1,080,000 |
||||||
USD Fire Dept. Communications Equipment (R99-1641) |
99FD011 |
1,700,000 |
1,700,000 |
||||||
USD Public Works Refuse Equipment Replacement (R99-1641) |
99UW003 |
810,000 |
810,000 |
||||||
USD Public Works General Equipment Replacement (R99-1641) |
99UW004 |
880,000 |
880,000 |
||||||
USD Public Works Sidewalk Construction (R99-1641) |
99UW006 |
1,500,000 |
1,500,000 |
||||||
USD Public Works Storm Drainage Repairs (R99-1641) |
99UW005 |
500,000 |
500,000 |
||||||
USD PW Drainage Bernard Avenue (R99-1641) |
99UW005 |
200,000 |
200,000 |
||||||
USD PW Drainage 12th Avenue South (R99-1641) |
99UW005 |
360,000 |
360,000 |
||||||
USD PW Drainage 29th Avenue South (R99-1641) |
99UW005 |
500,000 |
500,000 |
||||||
USD PW Drainage Pages Branch (R99-1641) |
99UW005 |
600,000 |
600,000 |
||||||
USD PW Drainage Elmington Park (R99-1641) |
99UW005 |
250,000 |
250,000 |
||||||
USD PW Drainage Centennial Park (R99-1641) |
99UW005 |
740,000 |
740,000 |
||||||
USD PW Drainage Apex Brick Tunnel (R99-1641) |
99UW005 |
1,500,000 |
1,500,000 |
||||||
USD PW Drainage Demonbreun Hogg Alley Tunnel (R99-1641) |
99UW005 |
100,000 |
100,000 |
||||||
USD Public Works Communications Equipment (R99-1641) |
99UW008 |
300,000 |
300,000 |
||||||
School-Wide Information System Upgrade (R2000-142) |
00BE007 |
2,000,000 |
2,000,000 |
||||||
Total Approved Capital Outlay Notes |
12,030,000 |
13,940,000 |
2,000,000 |
27,970,000 |
|||||
New Bonds and Approved Capital Outlay Notes |
86,326,700 |
35,232,700 |
57,345,800 |
178,905,200 |
|||||
Contingency |
173,300 |
267,300 |
154,200 |
594,800 |
|||||
Total New Bonds and Approved Capital Outlay Notes |
86,500,000 |
35,500,000 |
57,500,000 |
179,500,000 |
LEGISLATIVE HISTORY |
|
---|---|
Referred to: | Budget & Finance Committee |
Introduced: | October 17, 2000 |
Adopted: | October 17, 2000 |
Approved: | October 18, 2000 |
By: | ![]() |