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; and
WHEREAS, under and by virtue of the Constitution and laws of the State of
Georgia, including particularly the Revenue Bond Law of the State of Georgia
(O.C.G.A. Section 36-82-60 et seq., as amended, the ?Act?), the Issuer has the
authority to issue interest-bearing revenue bonds for the purpose of (i)
financing or refinancing, in whole or in part, the costs of certain additions,
extensions and improvements to the System, and acquiring the necessary property
therefor, both real and personal and (ii) paying expenses incident thereto; and
WHEREAS, in accordance with such authority, the Issuer has heretofore issued
$55,000,000 in original principal amount of its Columbus, Georgia Water and
Sewerage Revenue Refunding Bonds, Series 2003 (the ?Series 2003 Bonds?)
currently outstanding in the principal amount of $39,985,000, and in addition
has heretofore issued $45,705,000 in original principal amount of its Columbus,
Georgia Water and Sewerage Revenue Refunding Bonds, Series 2005 (the ?Series
2005 Bonds?) currently outstanding in the principal amount of $44,555,000; and
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%): and
WHEREAS, the Issuer 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 Series 2003 Bonds and the Series 2005
Bonds;
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
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, it is appropriate to proceed
with the necessary steps to provide for the refunding of all or a portion of
the Series 2003 Bonds and the Series 2005 Bonds, which refundings 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 Refundings. 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 Series 2003 Bonds and the
Series 2005 Bonds, 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 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.
Introduced at a regular meeting of the Council of Columbus, Georgia held on the
14th day of February, 2012, and adopted at said meeting by the affirmative
vote of ______ members of 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________
______________ __
_____________________________
SANDRA T. DAVIS 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 February 14, 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 14th day of February,
2012.
______________________________
Clerk
(SEAL)
Attachments
No attachments for this document.