SUbscriber Login | NEW SUBSCRIPTION  

RESOLUTION

  • warning: Parameter 2 to ad_flash_adapi() expected to be a reference, value given in /var/www/vhosts/rustonleader.com/httpdocs/includes/module.inc on line 497.
  • warning: Parameter 2 to ad_flash_adapi() expected to be a reference, value given in /var/www/vhosts/rustonleader.com/httpdocs/includes/module.inc on line 497.
  • warning: Parameter 2 to ad_flash_adapi() expected to be a reference, value given in /var/www/vhosts/rustonleader.com/httpdocs/includes/module.inc on line 497.
  • warning: Parameter 2 to ad_flash_adapi() expected to be a reference, value given in /var/www/vhosts/rustonleader.com/httpdocs/includes/module.inc on line 497.
  • warning: Parameter 2 to ad_flash_adapi() expected to be a reference, value given in /var/www/vhosts/rustonleader.com/httpdocs/includes/module.inc on line 497.

RESOLUTION
A resolution providing for the employment of bond counsel in connection with the borrowing by the Law Enforcement District of the Parish of Lincoln, State of Louisiana, of approximately Two Million Nine Hundred Nineteen Thousand Dollars ($2,919,000) and the Districts issuance of Limited Tax Revenue Bonds to represent said borrowing, and providing for other matters in connection with the issuance of the said Bonds.
I MIKE STONE, SHERIFF OF THE PARISH OF LINCOLN, STATE OF LOUISIANA, AND EX-OFFICIO CHIEF EXECUTIVE OFFICER OF THE LAW ENFORCEMENT DISTRICT OF THE PARISH OF LINCOLN, STATE OF LOUISIANA HEREBY RESOLVE THAT:
SECTION 1. The undersigned finds and determines that a real necessity exists for the employment of special bond counsel in connection with the Law Enforcement District of the Parish of Lincoln, State of Louisiana (the ADistrict@) borrowing approximately $2,919,000 and the District=s issuance of Limited Tax Revenue Bonds to represent same to for paying a portion of the cost of acquiring and constructing a public safety complex, including equipment and furnishings therefor (the ABonds@), and, accordingly, the law firm of Foley & Judell, LLP, Bond Counsel, is hereby requested to do and perform comprehensive legal work as bond counsel with respect to the issuance and sale of the Bonds. Said Bond Counsel shall prepare and submit to the District for adoption all of the proceedings incidental to the authorization, issuance, sale and delivery of such Bonds, shall counsel and advise the District as to the issuance and sale thereof and shall furnish its opinion covering the legality of the issuance of the Bonds. The fee of said Bond Counsel shall not exceed the maximum fee allowed by the Attorney General's fee guidelines for such comprehen¬sive legal work in connection with the issuance of revenue bonds and based on the amount of said Bonds actually issued, sold, delivered and paid for, plus "out-of-pocket" expenses, said fees to be contingent upon the issuance, sale and delivery of said Bonds. A certified copy of this resolution shall be submitted to the Attorney General of the State of Louisiana for his written approval of said employment and of the fees herein designated.
SECTION 2. Prior to the delivery of the Bonds, the District intends to expend moneys from other available funds for the purpose for which the Bonds are being issued, and reasonably expects to reimburse said expenditures from the proceeds of the Bonds in an amount not exceeding $1,980,000. Any such allocation of proceeds of the Bonds for reimbursement will be with respect to capital expenditures (as defined in Treasury Reg. 1.150-1[b]) and will be made upon the delivery of the Bonds and not later than eighteen (18) months after the later of (i) the date such expenditure was paid or (ii) the date on which the Project was placed in service. This Section is intended to be a declaration of official intent within the meaning of Reg. 1.150-2. The foregoing resolution having been submitted to a vote, the vote resulted as follows: THUS DONE, adopted and signed on the 7th day of September, 2011.
Sheriff and Ex-Officio Chief Executive Officer of the Law Enforcement District of the Parish of Lincoln, State of Louisiana
1td: September 16, 2011

Bookmark and Share