A resolution approving an extension of the reimbursement date of the outstanding intra-governmental loan from The Metropolitan Government of Nashville and Davidson County to the Hospital Authority of the Metropolitan Government of Nashville and Davidson County.

Whereas, by Resolution No. RS2006-1213, the Metropolitan Council approved an intra-governmental loan of $6,748,700 from the Metropolitan Government to the Hospital Authority, in addition to the outstanding intra-governmental loan of $13,700,000, and provided that the total loan amount would be subject to reimbursement no later than June 30, 2006; and

Whereas, Resolution No. RS2006-1213 also authorized the Director of Finance to extend the reimbursement date of said loan, subject to Council's approval by resolution; and

Whereas, the Director of Finance wishes to extend the reimbursement date of the intra-governmental loan from the Metropolitan Government to the Hospital Authority, so that the total outstanding loan amount of $20,448,700 will be subject to reimbursement no later than June 30, 2007.

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That the Metropolitan Council hereby approves the extension of the reimbursement date of the outstanding intra-governmental loan in the amount of $20,448,700 from the Metropolitan Government of Nashville and Davidson County to the Hospital Authority of Nashville and Davidson County, until no later than June 30, 2007.

Section 2. That the Director of Finance is authorized to take all action necessary to carry out the extension approved by this resolution.

Section 3. 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: Amanda McClendon, Billy Walls

LEGISLATIVE HISTORY
Referred:	Budget & Finance Committee
Introduced:	July 18, 2006
Adopted:	July 18, 2006
Approved:	July 19, 2006
By: