RESOLUTION
NO.____________
A RESOLUTION PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL AD VALOREM TAX
TO PROVIDE FUNDS FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE
$20,000,000 IN PRINCIPAL AMOUNT OF MUSCOGEE COUNTY SCHOOL DISTRICT (GEORGIA)
GENERAL OBLIGATION SALES TAX BONDS, SERIES 2016
WHEREAS, on the 17th day of March, 2015, the voters of the Muscogee County
School District (the ?School District?), which embraces all of Muscogee County,
Georgia, did, at an election (the ?Election?) called for that purpose,
authorize the imposition of a special sales and use tax of one percent on all
sales and uses in Columbus, Georgia, for a period of time not to exceed 20
calendar quarters, commencing on July 1, 2015, to raise not more than
$192,185,000 (the ?Sales and Use Tax?) and the issuance of general obligation
debt of the School District, in the aggregate principal amount of $70,000,000.
The School District now desires to issue a portion of such general obligation
debt in the form of the Muscogee County School District (Georgia) General
Obligation Sales Tax Bonds, Series 2016 in the principal amount of $20,000,000
(the ?Bonds?), dated the date of delivery, for the purpose of providing funds
to pay or to be applied toward the cost of (a) (i) the acquisition,
construction and equipping of new and replacement school buildings and
facilities, including but not limited to a replacement Spencer High School, a
replacement Gym at Fort Middle School, a Virtual E-Library in North Columbus,
and a new Multi-Sport Complex for District-Wide Use (Stadium, Track); (ii)
adding to, renovating, improving and equipping existing school buildings and
facilities, including but not limited to retrofitting existing space to
accommodate level-specific autistic programming, expanding the Northside High
School cafeteria, adding to the South Columbus Library Branch, adding to and
renovating Shaw High School, adding to or renovating weight rooms and wrestling
rooms at Shaw High School, Columbus High School, Jordan High School, Northside
High School and Kendrick High School, program enhancements for Fine Arts
Academy, upgrading Kinnett Stadium (Field House, Press Box, Concessions,
Restrooms), upgrading softball and baseball fields at Hardaway High School,
Shaw High School, Jordan High School, Kendrick High School and Columbus High
School, upgrading furniture, fixtures and equipment, transportation facilities
and alternative energy sources study, updating playgrounds at elementary
schools, upgrading cafeteria and auditoriums at Arnold Middle School, Clubview
Elementary School, Eddy Middle School, Hardaway High School, Columbus High
School and Kendrick High School, upgrading or replacing electrical and
mechanical equipment at Columbus Museum, repairing and replacing roofing,
refurbishing outdated kitchens, and addressing other facilities needs as
reflected in the Five-Year Facilities Plan, (iii) acquiring new school
equipment and making certain technology and infrastructure improvements and
upgrades, including but not limited to district-wide security improvements and
replacement of outdated communications equipment, replacement of outdated buses
and related equipment, and (iv) acquiring any property necessary or desirable
therefore, both real and personal; and (b) the cost of issuing the Bonds; and
WHEREAS, the Board of Education of Muscogee County, the body charged with
contracting debts and managing the affairs of the School District, in order to
issue the Bonds, is required by Article IX, Section V, Paragraph VI of the
Constitution of the State of Georgia to cause the levy of a direct annual tax
for the purpose of paying the principal of and interest on the Bonds in the
amounts and for the years hereinafter stated; and
WHEREAS, the Board of Education of Muscogee County has recommended to the
Council of Columbus Consolidated Government, Georgia, in a resolution duly
adopted by the Board of Education on March 14, 2016, a copy of which is
attached hereto as Exhibit B, the levy of an annual ad valorem tax upon all the
property of Muscogee County, Georgia subject to taxation for school bond
purposes, at such rate as will raise the amount of principal and interest to be
collected in each year listed in Exhibit A; and
WHEREAS, it is necessary at this time that a tax be levied annually in amounts
sufficient to pay, along with available Sales and Use Tax proceeds the
principal of, and the interest on, the Bonds as the same become due, which tax
must be levied in the year preceding the year in which the payments are
required to be made so that said payments may be made in a timely fashion;
NOW, THEREFORE, BE IT RESOLVED by the Council of Columbus Consolidated
Government, Georgia, in a meeting duly assembled and open to the public, and it
is hereby resolved by authority of the same, that there be and is hereby levied
a direct annual tax in order to pay debt service on the Bonds coming due in the
years 2016 through 2018 upon all property subject to taxation for school bond
purposes and located in the School District, which School District embraces all
of the territory comprising Muscogee County, Georgia, which tax shall be
sufficient, in addition to Sales and Use Tax proceeds, to raise the sums in
each of the years as more fully set forth in Exhibit A hereto attached and made
a part hereof. The sums hereby levied are irrevocably pledged and appropriated
to the payment of the principal of, and interest on, the Bonds as the same
become due and payable.
The said several sums shall be collected by the Tax Commissioner of Muscogee
County, Georgia, in each of said years, and shall be annually (or sooner) paid
into a sinking fund to be maintained for and applied to the payment of the
principal of, and interest on, the Bonds as the same become due and payable,
and provisions to meet the requirements of this resolution shall be made
annually (or sooner) thereafter.
BE IT FURTHER RESOLVED by the authority aforesaid, and it is hereby resolved by
authority of the same, that all orders and resolutions in conflict with the
resolution this day passed, if any, be and the same are hereby repealed.
Introduced at a regular meeting of the Council of Columbus Consolidated
Government, Georgia held on the 22nd day of March, 2016, and adopted at said
meeting by the affirmative vote of _____ members of said Council
Councilor Barnes voting___________.
Councilor Davis voting____________.
Councilor Huff voting _____________.
Councilor Pugh voting_____________.
Councilor Baker voting____________.
Councilor Allen voting____________.
Councilor Woodson voting_________.
Councilor Thomas voting__________.
Councilor Buck voting____________.
Councilor Henderson voting________.
______________________________
________________________________________
Tiny B. Washington, Clerk Teresa Pike
Tomlinson, Mayor
EXHIBIT A
DEBT SERVICE SCHEDULE
Period Ending Principal Coupon Interest Debt Service Annual Debt Service
10/1/2016 326,263.06 326,263.06 326,263.06
4/1/2017 314,050.00 314,050.00
10/1/2017 17,190,000 3.000% 314,050.00 17,504,050.00 17,818,100.00
4/1/2018 56,200.00 56,200.00
10/1/2018 2,810,000 4.000% 56,200.00 2,866,200.00 2,922,400.00
20,000,000 1,066,763.06 21,066,763.06 21,066,763.06
EXHIBIT B
CLERK?S CERTIFICATE
COLUMBUS, GEORGIA
I, the undersigned Clerk of the Council of Columbus Consolidated Government,
Georgia, DO HEREBY CERTIFY that the foregoing pages of typewritten matter
constitute a true and correct copy of resolution adopted by the Council of
Columbus Consolidated Government, Georgia, in meeting duly assembled, on the
22nd day of March, 2016, in connection with the issuance of the $20,000,000
Muscogee County School District (Georgia) General Obligation Sales Tax Bonds,
Series 2016, the original of which resolution has been duly recorded in the
Minute Book of said office, which is in my custody and control.
WITNESS my official hand and the seal of the Council of Columbus Consolidated
Government, Georgia this 22nd day of March, 2016.
Clerk
(SEAL)
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