COUNCIL SPONSOR Fitzmorris/Thompson PROVIDED BY: FOLEY & JUDELL
A resolution approving the holding of an election in Recreation District No.
12 of the Parish of St. Tammany, State of Louisiana, on Saturday, July 17,
2004, to authorize the incurring of debt and issuance of bonds therein.
WHEREAS, the Board of Commissioners of Recreation District No. 12 of the Parish of
St. Tammany, State of Louisiana (the "Governing Authority"), acting as the governing authority of
Recreation District No. 12 of the Parish of St. Tammany, State of Louisiana (the "District"), adopted
a resolution on April 30, 2004 calling a special election in the District on Saturday, July 17, 2004,to
authorize the incurring of debt and issuance of bonds therein; and
WHEREAS, the governing authority of the District has requested that this Parish Council,
acting as the governing authority of the Parish of St. Tammany, State of Louisiana, give its consent
and authority for the District to hold the aforesaid election, and in the event that the election carries
to issue, sell and deliver the bonds provided for therein; and
WHEREAS, as required by Article VI, Section 15 of the Constitution of the State of
Louisiana of 1974, it is now the desire of this Parish Council to approve the holding of said election
and in the event that the election carries, to issue, sell and deliver the bonds provided for therein;
NOW, THEREFORE, BE IT RESOLVED by the Parish Council of the Parish of St.
Tammany, State of Louisiana, acting as the governing authority of said Parish, that:
SECTION 1. In compliance with the provisions of Article VI, Section 15 of the
constitution of the State of Louisiana of 1974, and in accordance with the request of the Board of
Commissioners of Recreation District No. 12 of the Parish of St. Tammany, State of Louisiana, this
Parish Council hereby approves the holding of an election in the District, on Saturday, July 17, 2004,
at which election there will be submitted the following proposition, to-wit:
SUMMARY: AUTHORITY TO ISSUE $600,000 OF NOT EXCEEDING
14 YEAR GENERAL OBLIGATION BONDS OF THE DISTRICT FOR
PURCHASING, ACQUIRING, CONSTRUCTING AND IMPROVING
PARKS, PLAYGROUNDS, RECREATION CENTERS AND OTHER
RECREATIONAL FACILITIES, TOGETHER WITH THE NECESSARY
FURNISHINGS AND EQUIPMENT THEREFOR, TITLE TO WHICH
SHALL BE IN THE PUBLIC, SAID BONDS TO BE PAYABLE FROM AD
VALOREM TAXES.
Shall Recreation District No. 12 of the Parish of St. Tammany, State of
Louisiana (the "District"), incur debt and issue bonds to the amount of Six
Hundred Thousand Dollars ($600,000), to run not exceeding fourteen (14)
years from the date thereof, with interest at a rate not exceeding seven percent
(7%) per annum, for the purpose of purchasing, acquiring, constructing and
improving parks, playgrounds, recreation centers and other recreational
facilities, together with the necessary furnishings and equipment therefor,
title to which shall be in the public, which bonds will be general obligations
of the District and will be payable from ad valorem taxes to be levied and
collected in the manner provided by Article VI, Section 33 of the Constitution
of the State of Louisiana of 1974, and statutory authority supplemental
thereto?
NAYS:
ABSTAIN:
ABSENT:
THIS RESOLUTION WAS DECLARED ADOPTED ON THE 3RD DAY OF
JUNE 2004, AT A REGULAR MEETING OF THE PARISH COUNCIL, A QUORUM OF THE
MEMBERS BEING PRESENT AND VOTING.
PATRICIA BRISTER, COUNCIL CHAIRMAN
ATTEST:
DIANE HUESCHEN, COUNCIL CLERK
(SEAL) Council Clerk