RESOLUTION NO. RS2013-744

A Resolution supplementing and amending the Twenty-Fifth Supplemental Electric System Revenue Bond Resolution of The Metropolitan Government of Nashville and Davidson County authorizing the issuance of Electric System Revenue Refunding Bonds, 2013 Series A.

WHEREAS, under authority conferred by Appendix III of the Charter of The Metropolitan Government of Nashville and Davidson County and the laws of the State of Tennessee, the Metropolitan Council adopted Substitute Resolution No. R85-746 on November 5, 1985; and

WHEREAS, as requested by the Electric Power Board of The Metropolitan Government of Nashville and Davidson County, the Metropolitan Council, by Resolution No. RS2013-709 adopted on June 4, 2013, has authorized the issuance of bonds pursuant to such Substitute Resolution No. R85-746, as heretofore supplemented and amended, such bonds to be designated as the Electric System Revenue Refunding Bonds, 2013 Series A; and

WHEREAS, the Metropolitan Council hereby supplements and amends such Twenty-Fifth Supplemental Electric System Revenue Bond Resolution as set forth herein.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY, as follows:

ARTICLE I

AUTHORITY AND DEFINITIONS
101. Supplemental Resolution. This Resolution supplements and amends the Twenty-Fifth Supplemental Resolution.
102. Authority for this Resolution. This Resolution is adopted (i) pursuant to the provisions of the Act and (ii) in accordance with Article X of the Bond Resolution.
103. Definitions.
A. Except as provided by this Resolution, all terms which are defined in Section 101 of the Bond Resolution or Section 103 of the Twenty-Fifth Supplemental Resolution shall have the same meanings, respectively, in this Resolution as such terms are given in said Section 101 of the Bond Resolution or Section 103 of the Twenty-Fifth Supplemental Resolution.
B. In this Resolution:
Bond Resolution shall mean the Electric System Revenue Bond Resolution adopted by the Metropolitan Government on November 5, 1985, as supplemented and amended, including, without limitation, as supplemented by the Twenty-Fifth Supplemental Resolution and by this Resolution.
Sale Resolution shall mean the resolution of the Board adopted on June 13, 2013 entitled "A RESOLUTION DETERMINING CERTAIN DETAILS OF $56,055,000 AGGREGATE PRINCIPAL AMOUNT OF ELECTRIC SYSTEM REVENUE REFUNDING BONDS, 2013 SERIES A, OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY, AND CERTAIN OTHER MATTERS WITH RESPECT TO SAID 2013 SERIES A BONDS", a copy of which resolution of the Board is annexed hereto as Exhibit A.
Twenty-Fifth Supplemental Resolution shall mean the Twenty-Fifth Supplemental Electric System Revenue Bond Resolution adopted by the Metropolitan Government on June 4, 2013.

ARTICLE II

AMENDMENT OF TWENTY-FIFTH SUPPLEMENTAL RESOLUTION AND RATIFICATION OF BOARD’S ACTION WITH RESPECT TO 2013 SERIES A BONDS
201. Amendment and Clarification to Twenty-Fifth Supplemental Resolution. Section 207(A)(iii) of the Twenty-Fifth Supplemental Resolution was intended to limit the true interest cost of the 2013 Series A Bonds to not more than four percent (4%) per annum, regardless of the nominal coupon rate. Accordingly, the Twenty-Fifth Supplemental Resolution is amended and clarified by deleting Section 207(A)(iii) and replacing such section with the following language:
(iii) the interest rate or rates for each maturity of the 2013 Series A Bonds, provided that the yield to maturity or true interest cost of the 2013 Series A Bonds shall not exceed four percent (4%) per annum;

202. Ratification of Board Determinations with Respect to 2013 Series A Bonds. The determinations of the Board with respect to the 2013 Series A Bonds, including, without limitation, the aggregate principal amount of, the maturities and principal amount of each maturity of, the interest rates for, and the optional redemption provisions for, the 2013 Series A Bonds, and such other matters as are determined in Sections 1, 2, 3 and 4 of the Sale Resolution, be and the same are hereby approved, ratified and confirmed.

ARTICLE III

RESOLUTION TO REMAIN IN EFFECT; EFFECTIVE DATE
301. Resolution To Remain In Effect. Save and except as supplemented and amended by this Resolution, the Bond Resolution and the Twenty-Fifth Supplemental Resolution shall remain in full force and effect.
302. Effective Date. This Resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government requiring it.

Sponsored by: Lonnell Matthews

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee
Introduced:	June 18, 2013
Adopted:	June 18, 2013
Approved:	June 19, 2013
By: