RESOLUTION
NO.
__________
WHEREAS, Columbus, Georgia (the ?Issuer?) is a political subdivision of the
State of Georgia, duly created and validly existing pursuant to the laws of the
State of Georgia and owns a water and sewerage system (the ?System?) in the
City of Columbus, Georgia;
WHEREAS, the Issuer has heretofore obtained certain loans from the Georgia
Environmental Finance Authority (?GEFA?) to finance certain additions,
expansions and repairs to its System, including the following: (i) GEFA Loan #
CW93004 currently outstanding in an amount equal to $3,829,359, (ii) GEFA Loan
# CW97001P1 currently outstanding in an amount equal to $9,505,134, and (iii)
GEFA Loan # DW97109 currently outstanding in an amount equal to $2,148,350
(collectively, the ?GEFA Loans?);
WHEREAS, based upon market conditions and other factors relevant to the sound
and prudent operation and management of the System, the Issuer from time to
time provides for the issuance of refunding bonds in order to achieve certain
policies and objectives including, without limitation, the realization of
present value savings of not less than three percent (3%):
WHEREAS, the Columbus Georgia Board of Water Commissioners (the ?Board) has
determined, based upon such market conditions and other factors, that it is now
in the best interests of the Issuer to pursue the refunding of all or a portion
of the GEFA Loans and requests that Issuer authorize Columbus Water Works to
pursue the refunding of all or a portion of the GEFA Loans;
NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA HEREBY RESOLVES:
Section 1. Authority for Resolution. This resolution is adopted pursuant to the
provisions of the Constitution and laws of the State of Georgia, including, but
not limited to, the Revenue Bond Law of the State of Georgia (O.C.G.A. Section
36-82-60 et seq., as amended, the ?Act?).
Section 2. Findings. It is hereby ascertained, determined and declared that
based upon market conditions and other factors relevant to the sound and
prudent operation and management of the System and the recommendation of the
Board which is set forth in the attached resolution of the Board adopted
November 12, 2012 and attached hereto, it is appropriate to proceed with the
necessary steps to provide for the refunding of all or a portion of the GEFA
Loans, which refunding shall benefit the Issuer and the citizens of the City of
Columbus, Georgia served by the System, and will otherwise further the public
purposes intended to be served by the Act.
Section 3. Authorization to Proceed with Refunding. The Issuer hereby
authorizes and directs that the appropriate employees, agents, representatives
and advisors to the Issuer, including the management and employees of the
Columbus Water Works, take such actions as deemed necessary and appropriate to
provide for the refunding of all or a portion of the GEFA Loans, subject to
final approval of definitive documents and related interest rates, terms and
conditions by the Issuer.
Section 4. General Authority. From and after the adoption of this resolution,
the proper officers, members, agents and employees of the Issuer and the Board
are hereby authorized, empowered and directed to do all such acts and things,
including, but not limited to executing and delivering all documents,
instruments, or certificates as may be necessary or convenient to carry out and
comply with the provisions of this resolution.
Section 5. Actions Approved and Confirmed. All acts and doings of the officers,
members, agents and employees of the Issuer which are in conformity with the
purposes and intent of this resolution and the execution, delivery and
performance of the Indenture and matters approved herein are hereby in all
respects approved and confirmed.
Section 6. Effective Date. This resolution shall effect immediately upon its
adoption and upon the approval of the actions of the Issuer authorized herein
by the Council of Columbus, Georgia.
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Introduced at a regular meeting of the Council of Columbus, Georgia, held on
the 13th day of November, 2012, and adopted at said meeting by the affirmative
vote of ______ members of said council.
Councilor Allen Voting___________________.
Councilor Baker Voting___________________.
Councilor Barnes Voting__________________.
Councilor Davis Voting___________________.
Councilor Henderson Voting_______________.
Councilor Huff Voting____________________.
Councilor McDaniel Voting________________.
Councilor Pugh Voting____________________.
Councilor Thomas Voting__________________.
Councilor Woodson Voting_________________.
____________________________________ _________________________________
Tiny B. Washington Teresa Pike Tomlinson
Clerk of Council Mayor
CLERK?S CERTIFICATE
The undersigned Clerk of the Council of Columbus, Georgia (the ?Issuer?), does
hereby certify that the foregoing pages of typewritten matter constitute a true
and correct copy of a resolution which was duly adopted on November ___, 2012,
by the Issuer in a meeting duly called and assembled, which meeting was open to
the public and at which a quorum was present and acting throughout, that notice
of such meeting was duly given in accordance with Georgia law, and that the
original of such resolution appears of record in the minute book of the Issuer
which is in my custody and control, and that the same has not been modified,
amended, repealed or rescinded as of the date hereof.
Given under my hand and the seal of the Issuer, this the ____ day of November,
2012.
____________________________________
Clerk
(SEAL)
Attachments