A resolution supplementing and amending certain resolutions of The Metropolitan Government of Nashville and Davidson County and awarding the sale of the Metropolitan Government's General Obligation Bonds, Series 2005A.

WHEREAS, on April 5, 2005, the Metropolitan County Council (the "Council") of The Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government"), adopted Resolution No. RS2005-747 ("Resolution No. RS2005-747"), authorizing the issuance, sale and delivery by the Metropolitan Government of general obligation bonds, in the aggregate principal amount of not to exceed $175,000,000 for the purposes described therein; and

WHEREAS, said bonds, together with the Metropolitan Government's General Obligation Refunding Bonds, Series 2005B (the "Series 2005B Bonds") have been advertised for public sale in THE BOND BUYER, a daily financial newspaper printed and published in New York, New York, and in THE TENNESSEAN, a newspaper of general circulation in the Metropolitan Government, in accordance with Tennessee law (the "Notice of Sale"); and

WHEREAS, bids have been received for the Series 2005B Bonds and the bonds described herein and it is in the best interest of the Metropolitan Government to award the sale of said bonds to the bidder submitting the lowest bid; and

WHEREAS, it has been determined that it is advantageous to the Metropolitan Government to make certain changes to the terms of the bonds as set forth in the Resolution in order to sell the bonds on terms most favorable to the Metropolitan Government.

NOW, THEREFORE, BE IT HEREBY RESOLVED by the Metropolitan County Council of The Metropolitan Government of Nashville and Davidson County, as follows:

1. Receipt of Bids. Pursuant to the Notice of Sale, duly published in accordance with Tennessee law, the following bids were received for the Series 2005B Bonds and the bonds described on Exhibit A hereto (the "Series 2005A Bonds"):

2. Successful Bidder. The Council has reviewed all bids received with respect to the Series 2005A Bonds and the Series 2005B Bonds, and the bid of Lehman Brothers, New York, New York (the "Purchaser") is the bid which results in the lowest true interest cost to the Metropolitan Government, and in all respects complies with the Notice of Sale.

3. Award of Bonds. It is hereby ordered that the bid of the Purchaser attached hereto be and the same is hereby accepted, and the Council hereby awards and sells to the Purchaser the Series 2005A Bonds described on Exhibit A in the aggregate principal amount of $150,995,000, at a purchase price of $160,482,455.80, representing the principal amount of the Bonds, plus net original issue premium of $10,251,490.50, less underwriter's discount of $764,034.70.

4. Terms of Bonds. The Series 2005A Bonds shall have the terms set forth on Exhibit A attached hereto.

5. Amendments. Sections 3.3(a) and 4.1(b) of Resolution RS2005-747, and the form of the bond attached to Resolution RS2005-747, are hereby amended to conform to the terms of the Series 2005A Bonds set forth on Exhibit A attached hereto. Except as set forth on Exhibit A, the Series 2005A Bonds shall be issued in accordance with the Resolution.

6. Good Faith Deposit. The Director of Finance of the Metropolitan Government is hereby authorized and directed to accept as the good faith deposit for the Series 2005A Bonds awarded hereunder the Good Faith Deposit Financial Surety Bond issued by Financial Security Assurance Inc.

7. Conflicting Resolutions. All other resolutions and orders, or parts thereof, in conflict with the provisions of this resolution are, to the extent of such conflict, hereby repealed.

8. Effectiveness. This resolution shall be in immediate effect from and after its adoption, the welfare of the Metropolitan Government requiring it.

Sponsored by: Jim Shulman

View Exhibit

LEGISLATIVE HISTORY
Referred:	Budget & Finance Committee
Introduced:	April 19, 2005
Substitute Introduced:	April 19, 2005
Adopted:	April 19, 2005
Approved:	April 21, 2005
By: