HomeMy WebLinkAboutCounty Commission Providing for the Redemption in Whole of the Richmond County Public Facilities, Inc. Certificates of Participation
Augusta Richmond GA
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YEAR: Od
BOX NUMBER: \"5
FILE NUMBER: \ 19 \\ 2>
NUMBER OF PAGES: 0
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RESOLUTION OF THE AUGUSTA-RICHMOND COUNTY COMMISSION
PROVIDING FOR THE REDEMPTION IN WHOLE OF THE RICHMOND COUNTY
PUBLIC FACILITIES, INC. CERTIFICATES OF PARTICIPATION
(AUGUSTA GOLF COURSE PROJECT) SERIES 1998
THIS RESOLUTION adopted by the Augusta-Richmond County Commission (the
"Commission").
WHEREAS, on July 2, 1998 the Riclnnond County Public Facilities, Inc. Certificates of
Participation (Augusta Golf Course Project) Series 1998 (the "Certificates") were issued in the
principal amount of$1,705,000 which evidence an interest in the Public Purpose Installment
Sale Agreement dated as of June 1, 1998 between Richmond County Public Facilities, Inc. as
Seller and Augusta, Georgia as Purchaser (the "Sale Agreement");
WHEREAS, the Commission desires to exercise its rights under Section 4.5( c) of the
Sale Agreement to prepay in whole the Basic Payments due under the Sale Agreement on the
Interest Payment Date of June 30, 2002 and to thereby cause a redemption in whole ofthe
Certificates.
NOW, THEREFORE, BE IT RESOLVED by the Commission, and it is hereby
resolved by authority of same as follows:
Section 1. Prepayment in Whole of Basic Payments. Augusta, Georgia elects, pursuant
to the provisions of Section 4.5(c) of the Sale Agreement, to make a prepayment in whole of the
Basic Payments due thereunder. This prepayment shall be paid to Regions Bank, as Trustee (the
"Trustee") under the Trust Indenture between Riclnnond County Public Facilities, Inc. and
Regions Bank, as Trustee dated as ofJune 1, 1998, as amended (the "Indenture"), at least five
(5) days prior to June 30, 2002. The Trustee shall use this prepayment in whole of the Basic
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Payments to effect a redemption in whole of the Certificates on June 30, 2002 as provided for in
the Indenture and Sale Agreement.
Section 2. Authorization of the Giving of Notice to the Trustee of the Prepavment in
Whole ofthe Basic Payments. The Mayor of Augusta, Georgia is hereby authorized and
directed on or before May 25, 2002 to give written notice to the Trustee of Augusta, Georgia's
intention to prepay in whole the Basic Payments as herein authorized for the purpose of
redeeming the certificates in whole.
Section 3. Effective Date. This resolution shall become effective upon its adoption.
ADOPTED May ~, 2002.
AUGUSTA-RICHMOND COUNTY COMMISSION
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~ . Its Mayor . ,
Attest:J;n~
Its Cl _',.. .
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CLERK'S CERTIFICATE
I, Ulfll:: :f 137JIfj'(~~ , Clerk of the Augusta-Richmond County
Commission, (the "Commission") DO HEREBY CERTIFY that the foregoing pages of
typewritten matter constitute a true and correct copy of a resolution, passed by the Commission
at a regular meeting of the Commission duly held on May ;JL, 2002, at 2:00 p.m., open to the
public and at which a quorum was present and acting throughout, and that the original of said
Resolution appears of record in the Minute Book of the Commission, which is in my custody and
control.
Given under my hand and seal ofthe Commission, this ~/j! day of May, 2002.
J&g(J~DCOUNTY
COMMISSION
[SEAL]
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