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HomeMy WebLinkAboutGENERAL OBLIGATION BOND RESOLUTION "t, .. I.', SAB DRAFT #2 3/31/05 10:30 PM , A RESOLUTION OF THE AUGUSTA-RICHMOND COUNTY COMMISSION TO REGULATE AND TO PROVIDE FOR THE CALL OF AN ELECTION TO DETERMINE THE ISSUANCE OR NONISSUANCE OF $60,000,000 AGGREGATE PRINCIPAL AMOUNT OF AUGUSTA, GEORGIA GENERAL OBLIGATION BONDS; SPECIFYING THE PRINCIPAL AMOUNT OF THE GENERAL OBLIGATION BONDS TO BE ISSUED, THE PURPOSE FOR WHICH THE BONDS ARE TO BE ISSUED, THE MAXIMUM INTEREST RATE WHICH SUCH BONDS SHALL BEAR, THE AMOUNT OF PRINCIPAL TO BE PAID IN EACH YEAR AND THAT THE BONDS MAY BE MADE SUBJECT TO REDEMPTION PRIOR TO MATURITY; TO REQUEST THE BOARD OF ELECTIONS OF RICHMOND COUNTY, GEORGIA TO CALL AN ELECTION OF THE VOTERS WITHIN RICHMOND COUNTY, GEORGIA TO APPROVE THE ISSUANCE OF THE GENERAL OBLIGATION BONDS; TO APPROVE THE FORM OF THE QUESTION ON THE BALLOT TO BE USED IN SUCH ELECTION AND THE NOTICE OF SUCH ELECTION; TO PROVIDE FOR THE LEVY AND COLLECTION OF TAXES FOR PAYING THE PRINCIPAL OF AND INTEREST ON SUCH BONDS, IF AUTHORIZED; AND FOR OTHER PURPOSES: WHEREAS, Article IX, Section V, Paragraph lea) of the Constitution of the State of Georgia of 1983 and. Section 36-82-1 et. seq. of the Official Code of Georgia Annotated authorize the issuance of general obligation bonds by counties in the State of Georgia upon, among other conditions, the assent of a majority of the qualified voters of such county voting in an election held for that purpose, as provided by law; and WHEREAS, pursuant to an Act of the General Assembly of the State of Georgia (Ga. Laws 1995, p. 3648), Richmond County, Georgia (the "County") has consolidated with the City \ of Augusta and has formed a consolidated political entity which has succeeded to the powers of I the County; and .; 1 WHEREAS, pursuant to an Act of the General Assembly of the State of Georgia (Ga. Laws 1997, p. 4024, as amended), such consolidated political entity has been designated as "Augusta, Georgia," a body politic and corporate, and political subdivision of the State of Georgia, having all of the governmental and corporate powers, duties and functions previously held by and vested in the City of Augusta, Georgia and the County, including the power to issue general obligation bonds within the County, and such consolidated political entity is governed by the Augusta-Richmond County Commission (the "Commission"); and WHEREAS, the Commission has determined, after careful study and investigation, that there is a need for a multipurpose sports and entertainment arena to be located on all or a portion of the property formerly known as the Regency Mall, Augusta, Richmond County, Georgia; and AO 1294295.2 " WHEREAS, the Commission has determined that the most feasible method of financing such improvements is by the issuance of Augusta, Georgia General Obligation Bonds in the aggregate principal amount of $60,000,000 (the "Bonds"), pursuant to the Constitution and laws of the State of Georgia, and under the Constitution and the laws of the State of Georgia, it is necessary to submit to the qualified voters of the County for their determination the question of whether the Bonds should be issued for the purpose of providing funds to payor to be applied toward the cost of acquiring, constructing and equipping a multipurpose sports and entertainment arena to be located on all or a portion of the property formerly known as the Regency Mall, Augusta, Richmond County, Georgia, acquiring the necessary property or rights in property therefor, both real and personal, and to pay expenses necessary to accomplish the foregoing; and WHEREAS, the Bonds, if authorized, shall be issued, shall be dated, shall bear interest and shall be payable at such time or times as hereinafter provided; and WHEREAS, pursuant to the provisions of Section 21-2-540 of the Official Code of Georgia Annotated, as amended, special elections shall only be held on certain specified dates; and WHEREAS, the Commission has determined that the best date for calling the special election to determine whether the Bonds should be issued is June 21,2005; NOW, THEREFORE, BE IT RESOLVED by the Augusta-Richmond County Commission, and it is hereby resolved by authority of the same, that under and by virtue of the Constitution and laws of the State of Georgia, a special election is hereby called to be held in all the election districts within the County on June 21, 2005, for the purpose of submitting to the qualified voters within the County the question of whether the Bonds shall be authorized to be issued. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the ballots to be used in said election shall have written or printed thereon substantially the following question: "Shall General Obligation Bonds in the amount of $60,000,000 be issued by. Augusta, Georgia for the purpose of providing funds to payor to be applied toward the cost of acquiring, constructing and equipping a multipurpose sports and entertainment arena to be located on all or a portion of the property formerly known as the Regency Mall, Augusta, Richmond County, Georgia, acquiring the necessary property or rights in property therefor, both real and personal, and to pay expenses necessary to accomplish the foregoing?" The ballot labels shall also have printed thereon the word "YES" and the word "NO" in order that each voter may cast a vote in either the affirmative or the negative as to the question propounded. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that if the voters approve the issuance of the Bonds, the Commission shall be authorized to issue the Bonds in the aggregate principal amount of $60,000,000, to be dated not later than the date of issuance thereof, in the form of fully registered bonds without coupons, AO 1294295.2 -?- " transferable to subsequent owners as therein provided, in denominations of $5,000 or any integral multiple thereof, bearing interest from date at such rate or rates not exceeding 6 percent . per annum, with the interest payable on January 1 and July 1 of each year, and the principal thereof maturing (by scheduled inaturity or by mandatory redemption at the option of the Commission) on July 1, in the years and principal amounts set forth in the following table: YEAR AMOUNT YEAR AMOUNT 2007 $ 815,000 2022 $1,955,000 2008 865,000 2023 2,070,000 2009 915,000 2024 2,195,000 2010 970,000 2025 2,325,000 2011 1,030,000 2026 2,465,000 2012 1,090,000 2027 2,615,000 2013 1,155,000 2028 2,770,000 2014 1,225,000 2029 2,935,000 2015 1,300,000 2030 3,110,000 2016 1,375,000 2031 3,300,000 2017 1,460,000 2032 3,495,000 2018 1,545,000 2033 3,705,000 2019 1,640,000 2034 3,930,000 2020 1,740,000 2035 4,165,000 2021 1,840,000 The Bonds may be made subject to redemption prior to their respective maturities upon the terms and conditions to be determined by the Commission. The principal of and interest on the Bonds shall be payable in lawful money of the United States of America at a bank or trust company to be designated later. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the Board of Elections of Richmond County, Georgia (the "Board of Elections"), be notified of the call for such special election and the Executive Director of the Board of Elections (the "Election Director") is hereby directed to cause to be published a notice of the election in the official county organ in which sheriff's advertisements appear for Richmond County, for a period of 30 days prior to the date of the special election with the first notice for such special election to be published not less than 30 days prior to the special election date and once a week thereafter for at least four weeks prior to the week in which such election is to occur. The notice of election shall be in substantially the form attached hereto as Exhibit A and made a part hereof. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that, in accordance with O.C.G.A. ~ 21-2-540, the date of such election shall be and is hereby set as June 21,2005. The polls of each election district within the County shall open at 7 a.m. and close at 7 p.m., and the election shall be held at the regular places for holding elections in the County and in accordance with the election laws of the State of Georgia, and the returns of said election shall be made to the Commission and to the Election Director, who shall, in the presence of and together with the several managers of the polls who shall bring AO 1294295,2 _1_ , ' up the returns, consolidate the returns and declare the result of the election in the manner required by law. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that, in accordance with the provisions of Code Section 36-82-1(d) of the Official Code of Georgia Annotated, as amended, any brochures, listings or other advertisements approved by the Commission pursuant to a resolution duly adopted by said Commission shall be deemed to be a statement of intention concerning the use of the bond funds in accordance, or substantially in accordance, with the aforesaid purpose and reference to same shall be contained in the legal advertisement of the bond election. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that prior to the date of the election authorized herein, there shall be appointed proper election managers and clerks to supervise and hold said election and to make returns of said election to the Commission and to the Election Director, who shall, in the presence of and together with the several managers of the polls who shall bring up the returns, consolidate the returns and declare the result of the election in the manner required by law. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that should the Bonds be authorized by the requisite number of qualified voters, and thereafter dilly validated and issued, the Commission shall levy a tax upon all the property subject to taxation for general obligation bond purposes, within the County, sufficient in amount to pay the principal of and the interest on the Bonds at their respective maturities, BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the Clerk of the Commission is hereby ordered and directed to forthwith furnish the Election Director with a duly certified copy of this resolution in order that the Election Director shall take such action in the premises in conjunction with the Commission and the Board of Elections as provided by law. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the special election provided for herein shall be submitted to the United States Justice Department, Chief, Voting Section, Civil Rights Division for preclearance as required pursuant to the Voting Rights Act of 1965, as amended, promptly upon adoption of ilisre~~on.' BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the proper officers and agents of Augusta, Georgia are hereby authorized to take any and all further actions as may be required in connection with the issuance of the Bonds as herein provided, BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the Mayor Pro Tern of Augusta, Georgia is authorized, empowered and directed to prepare, execute, file and deliver such instruments, certificates or other documents, including this resolution, and the Mayor Pro Tem of Augusta, Georgia is further authorized to acknowledge service and to make answer on behalf of the Consolidated Government in the validation proceedings for the Bonds and to take such other and further action AO 1294295.2 _4_ " as may be necessary or desirable to consummate the election relative to the issuance of the Bonds and to give full force and effect to this resolution. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that this resolution shall take effect immediately upon its adoption, and any and all resolutions in conflict with this resolution are hereby repealed. Done this April ,2005. MaY~(( !J fA-. 7j~ " \ AO 1294295,2 -'\- EXHmIT A NOTICE OF CALL FOR SPECIAL ELECTION TO THE QUALIFIED VOTERS OF RICHMOND COUNTY, GEORGIA TO CONSIDER THE ISSUANCE OF GENERAL OBLIGATION BONDS NOTICE IS HEREBY GIVEN that under and by virtue of the Constitution and laws of the State of Georgia, a special election has been called to be held on June 21,2005, at the regular polling places in all the election districts of Richmond County, Georgia (the "'County"), at which time there will be submitted to the qualified voters of the County for their determination the question of whether or not general obligation bonds (the "Bonds") shall be issued by Augusta, Georgia for the purpose of providing funds to payor to be applied toward the cost of acquiring, constructing and equipping a multipurpose sports and entertainment arena to be located on all or a portion of the property formerly known as the Regency Mall, Augusta, Richmond County, Georgia, acquiring the necessary property or rights in property therefor, both real and personal, and to pay expenses necessary to accomplish the foregoing. Such Bonds, if authorized, shall be issued in the aggregate principal amount of $60,000,000, to be dated not later than the date of issuance and delivery thereof, in the form of fully registered bonds without coupons, transferable to subsequent owners as therein provided, in denominations of $5,000 or any integral multiple thereof, bearing interest from date at a rate or rates not exceeding 6 percent per annum, with the interest payable on January 1 and July 1 of each year, and the principal thereof maturing (by scheduled maturity or by mandatory redemption at the option of the Augusta-Richmond County Commission (the "Commission")) on July 1, in the years and amounts set forth in the following table: YEAR AMOUNT YEAR AMOUNT 2007 $ 815,000 2022 $1,955,000 2008 865,000 2023 2,070,000 2009 915,000 2024 2,195,000 2010 970,000 2025 2,325,000 2011 1,030,000 2026 2,465,000 2012 1,090,000 2027 2,615,000 2013 1,155,000 2028 2,770,000 2014 1,225,000 2029 2,935,000 2015 1,300,000 2030 3,110,000 2016 1,375,000 2031 3,300,000 2017 1,460,000 2032 3,495,000 2018 1,545,000 2033 3,705,000 2019 1,640,000 2034 3,930,000 2020 1,740,000 2035 4,165,000 2021 1,840,000 The Bonds may be made subject to redemption prior to their respective maturities upon the terms and conditions to be determined by the Commission. The principal of and interest on the Bonds AO 1294295,2 " shall be payable in lawful money of the United States of America at a bank or trust company to be designated later. Voters desiring to vote for the issuance of said Bonds for the purpose set forth above shall do so by voting "YES" and voters desiring to vote against the issuance of said Bonds for such purpose shall do so by voting "NO" as to the question propounded, to wit: ( ) YES <'Shall General Obligation Bonds in the amount of $60,000,000 be issued by Augusta, Georgia for the purpose of providing funds to payor to be applied toward the cost of acquiring, constructing and equipping a multipurpose sports and entertainment arena to be located on all or a portion of the property formerly known as the Regency Mall, Augusta, Richmond County, Georgia, acquiring the necessary property or rights in property therefor, both real and personal, and to pay expenses necessary to accomplish the foregoingT ( )NO In accordance with the provisions of Code Section 36-82-1( d) of the Official Code of Georgia Annotated, as amended, any brochures, listings or other advertisements approved by the Commission pursuant to a resolution duly adopted by it shall be deemed to be a statement of intention concerning the use of the bond funds in accordance, or substantially in accordance, with the aforesaid purpose. The several places for holding said election shall be at the regular and established voting precincts of all of the election districts within the County, and the polls will be open from 7 a.m. to 7 p.m. on the date fixed for the election. Those residents within the County qualified to vote at said election shall be determined in all respects in accordance with the election laws of the State of Georgia. Anyone desiring to vote in said referendum and not a qualified voter of said County must register no later than Monday, May 23, 2005 at any of the approved voter registration sites in Richmond County, Georgia in order to be eligible to vote. Inquiries regarding voter registration may be directed to the Board of Elections Office, Room 104, City-County Building, Augusta, Georgia, or by calling (706) 821- 2340. EXECUTIVE DIRECTOR OF THE BOARD OF ELECTIONS OF RICHMOND COUNTY, GEORGIA By: A-2 AD 1294295,2 .' " , .. ACKNOWLEDGMENT OF RECEIPT I, Lynn Bailey, Executive Director of the Board of Elections of Richmond County, Georgia, do hereby acknowledge receipt of the foregoing :certified copy of a resolution adopted by the Augusta-Richmond County Commission calling an election to be held on June 21,2005, pertaining to the issuance or nonissuance of $60,000,000 aggregate principal amount of Augusta, Georgia General Obligation Bonds. I shall take such action in connection with said election as provided by law. WITNESS my hand this April}1 t!: 2005. EXECUTIVE DIRECTOR OF THE BOARD OF ELECTIONS OF RICHMOND COUNTY, GEORGIA By: fi~6 Lynn Batley AO 1294295.2 , ~< ,. . .' CLERK'S CERTIFICATE AUGUSTA, GEORGIA I, Lena Bonner, Clerk of the Augusta-Richmond County Commission, DO HEREBY CERTIFY that the foregoing pages constitute a true and correct copy of a resolution adopted by the Augusta-Richmond County Commission at a regular meeting duly called according to the provisions of the Georgia Open Meeting Law and lawfully assembled on March 29, 2005, and reconvened on March 31,2005 and again reconvened on April 1, 2005, calling an election of the qualified voters within Richmond County, Georgia to determine the issuance or nonissuance of $60,000,000 aggregate principal amount of Augusta, Georgia General Obligation Bonds, the original of said resolution being duly recorded in the Minute Book of the Augusta-Richmond County Commission, which Minute Book is in my custody and control. I do hereby further certify that the following members of the Augusta-Richmond County Commission were present at said meeting: Tommy Boyles, Commissioner Marion F. Williams. Mayor Pro Tem Betty Beard, Commissioner Andy Cheek, Commissioner Bobby Hankerson, Commissioner Jimmy Smith, Commissioner Don Grantham, Commissioner and that the following members were absent: Richard Colclough, Commissioner Barbara Sims, Commissioner Willie H. Mays III, Commissioner and that said resolution was duly adopted by a vote of 0 Aye and ~ i , " WITNESS my hand and the official seal of the Augusta-Richmond County Commission this April---y 2005. ~ ' , .- - .~ '(- .- Clerk , ' , ',' , / ". / (S E A L) AO 1294295.2 I. . . SAB DRAFT #2 3/31/05 10:30 PM A RESOLUTION OF THE AUGUSTA-RICHMOND COUNTY COMMISSION TO REGULATE AND TO PROVIDE FOR THE CALL OF AN ELECTION TO DETERMINE THE ISSUANCE OR NONISSUANCE OF $100,000,000 AGGREGATE PRINCIPAL AMOUNT OF AUGUSTA, GEORGIA GENERAL OBLIGATION BONDS; SPECIFYING THE PRINCIPAL AMOUNT OF THE GENERAL OBLIGATION BONDS TO BE ISSUED, THE PURPOSE FOR WHICH THE BONDS ARE TO BE ISSUED, THE MAXIMUM INTEREST RATE WHICH SUCH BONDS SHALL BEAR, THE AMOUNT OF PRINCIPAL TO BE PAID IN EACH YEAR AND THAT THE BONDS MAY BE MADE SUBJECT TO REDE.MPTION PRIOR TO MATURITY; TO REQUEST THE BOARD OF ELECTIONS OF RICHMOND COUNTY, GEORGIA TO CALL AN ELECTION OF THE VOTERS WITHIN RICHMOND COUNTY, GEORGIA TO APPROVE THE ISSUANCE OF THE GENERAL OBLIGATION BONDS; TO APPROVE THE FORM OF THE QUESTION ON THE BALLOT TO BE USED IN SUCH ELECTION AND THE NOTICE OF SUCH ELECTION; TO PROVIDE FOR THE LEVY AND COLLECTION OF TAXES FOR PAYING THE PRINCIPAL OF AND INTEREST ON SUCH BONDS, IF AUTHORIZED; AND FOR OTHER PURPOSES: WHEREAS, Article IX, Section V, Paragraph lea) of the Constitution of the State of Georgia of 1983 and Section 36-82-1 et. seq. of the Official Code of Georgia Annotated authorize the issuance of general obligation bonds by counties in the State of Georgia upon, among other conditions, the assent of a majority of the qualified voters of such county voting in an election held for that purpose, as provided by law; and WHEREAS, pursuant to an Act of the General Assembly of the State of Georgia (Ga. Laws 1995, p. 3648), Richmond County, Georgia (the "County") has consolidated with the City of Augusta and has formed a consolidated political entity which has succeeded to the powers of the County; and WHEREAS, pursuant to an Act of the General Assembly of the State of Georgia (Ga. Laws 1997, p. 4024, as amended), such consolidated political entity has been designated as HAugusta, Georgia," a body politic and corporate, and political subdivision of the State of G"""oro1a ha~Nna all of' -th" a""~T"""'menta1 .,...d "'''''p'''ra-t.. p"'w....s d"t;..s a....rl h....,...,.;"'...S ....r"""N"'us1u v ~,. J. T.l.J..o ,u. VL l".l V bVY\.I..&..Lll :.&.J. J. au. .....-V.l. v. t....... v VJ.,. U J.'-' .&.J.y. .Lu..U.vuv.u. .P """.IV J.] held by and vested in the City of Augusta, Georgia and the County, including the power to issue general obligation bonds within the County, and such consolidated political entity is governed by the Augusta-Richmond County Commission (the "Commission"); and WHEREAS, the Commission has determined, after careful study and investigation, that there is a need for certain public safety facilities, including but not limited to judicial facilities, sheriff's offices and jail facilities, in the County; and WHEREAS, the Commission has determined that the most feasible method of financing such improvements is by the issuance of Augusta, Georgia General Obligation Bonds in the AO 1294260.2 " aggregate principal amount of $100,000,000 (the "Bonds"), pursuant to the Constitution and laws of the State of Georgia, and under the Constitution and the laws of the State of Georgia, it is necessary to submit to the qualified voters of the County for their determination the question of whether the Bonds should be issued for the purpose of providing funds to payor to be applied toward the cost of acquiring, constructing and equipping additional public safety buildings and facilities, including but not limited to judicial facilities, sheriff's offices and jail facilities, renovating, repairing, demolishing, adding to and improving existing public safety facilities of the County, acquiring apparatus, furnishings, equipment and fixtures useful or desirable in connection therewith and parking areas and facilities therefor, acquiring the necessary property or rights in property therefor, both real and personal, and to pay expenses necessary to accomplish the foregoing; and WHEREAS, the Bonds, if authorized, shall be issued, shall be dated, shall bear interest and shall be payable at such time or times as hereinafter provided; and WHEREAS, pursuant to the provisions of Section 21-2-540 of the Official Code of Georgia Annotated, as amended, special elections shall only be held on certain specified dates; and WHEREAS, the Commission has determined that the best date for calling the special election to determine whether the Bonds should be issued is June 21, 2005; NOW, THEREFORE, BE IT RESOLVED by the Augusta-Richmond County Commission, and it is hereby resolved by authority of the same, that under and by virtue of the Constitution and laws of the State of Georgia, a special election is hereby called to be held in all the election districts within the County on June 21, 2005, for the purpose of submitting to the qualified voters within the County the question of whether the Bonds shall be authorized to be issued. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the ballots to be used in said election shall have written or printed thereon substantially the following question: "Shall General Obligation Bonds in the amount of $100,000,000 be issued by Augusta, Georgia for the purpose of providing funds to payor to be applied toward the cost of acquiring, constructing and equipping additional public safety buildings and facilities, including but not limited to judicial facilities, sheriff's offices and jail facilities, renovating, repairing, demolishing, adding to and improving existing public safety facilities of the County, acquiring apparatus, furnishings, equipment and fixtures useful or desirable in connection therewith and parking areas and facilities therefor, acquiring the necessary property or rights in property therefor, both real and personal, and to pay expenses necessary to accomplish the foregoing?" The ballot labels shall also have printed thereon the word "YES" and the word "NO" in order that each voter may cast a vote in either the affirmative or the negative as to the question propounded. AO 1294260.2 -2- " BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that if the voters approve the issuance of the Bonds, the Commission shall be authorized to issue the Bonds in the aggregate principal amount of $100,000,000, to be dated not later than the date of issuance thereof, in the form of fully registered bonds without coupons, transferable to subsequent owners as therein provided, in denominations of $5,000 or any integral multiple thereof, bearing interest from date at such rate or rates not exceeding 6 percent per annum, with the interest payable on January 1 and July 1 of each year, and the principal thereof maturing (by scheduled maturity or by mandatory redemption at the option of the Commission) on July 1, in the years and principal amounts set forth in the following table: YEAR Al\10UNT YEAR AMOUNT 2007 $1,360,000 2022 $3,255,000 2008 1,440,000 2023 3,450,000 2009 1,525,000 2024 3,655,000 2010 1,620,000 2025 3,875,000 2011 1,715,000 2026 4,110,000 2012 1,815,000 2027 4,355,000 2013 1,925,000 2028 4,615,000 2014 2,040,000 2029 4,895,000 2015 2,165,000 2030 5,185,000 2016 2,295,000 2031 5,500,000 2017 2,430,000 2032 5,830,000 2018 2,580,000 2033 6,180,000 2019 2,730,000 2034 6,550,000 2020 2,895,000 2035 6,940,000 2021 3,070,000 The Bonds may be made subject to redemption prior to their respective maturities upon the terms and conditions to be determined by the Commission. The principal of and interest on the Bonds shall be payable in lawful money of the United States of America at a bank or trust company to be designated later. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the Board of Elections of Richmond County, Georgia (the "Board of Elections"), be notified of the call for such special election and the Executive Director of the Board of Elections (the "Election Director") is hereby directed to cause to be published a notice of the election in the official county organ in which sheriff's advertisements appear for Richmond County, for a period of 30 days prior to the date of the special election with the first notice for such special election to be published not less than 30 days prior to the special election date and once a week thereafter for at least four weeks prior to the week in which such election is to occur. The notice of election shall be in substantially the form attached hereto as Exhibit A and made a part hereof. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that, in accordance with O.C.G.A. ~ 21-2-540, the date of such election AO 1294260.2 -3- " , ' shall be and is hereby set as June 21,2005. The polls of each election district within the County shall open at 7 a.m. and close at 7 p.m., and the election shall be held at the regular places for holding elections in the County and in accordance with the election laws of the State of Georgia, and the returns of said election shall be made to the Commission and to the Election Director, who shall, in the presence of and together with the several managers of the polls who shall bring up the returns, consolidate the returns and declare the result of the election in the manner required by law. BE IT FURTHER RESOL VEn by the authority aforesaid and it is hereby resolved by authority of the same, that, in accordance with the provisions of Code Section 36-82-1(d) of the Official Code of Georgia Annotated, as amended, any brochures, listings or other advertisements approved by the Commission pursuant to a resolution duly adopted by said Commission shall be deemed to be a statement of intention concerning the use of the bond funds in accordance, or substantially in accordance, with the aforesaid purpose and reference to same shall be contained in the legal advertisement of the bond election. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that prior to the date of the election authorized herein, there shall be appointed proper election managers and clerks to supervise and hold said election and to make returns of said election to the Commission and to the Election Director, who shall, in the presence of and together with the several managers of the polls who shall bring up the returns, consolidate the returns and declare the result of the election in the manner required by law. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that should the Bonds be authorized by the requisite number of qualified voters, and thereafter duly validated and issued, the Commission shall levy a tax upon all the property subject to taxation for general obligation bond purposes, within the County, sufficient in amount to pay the principal of and the interest on the Bonds at their respective maturities. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the Clerk of the Commission is hereby ordered and directed to forthwith furnish the Election Director with a duly certified copy of this resolution in order that the Election Director shall take such action in the premises in conjunction with the Commission and the Board of Elections as provided by law. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the special election provided for herein shall be submitted to the United States Justice Department, Chief, Voting Section, Civil Rights Division for preclearance as required pursuant to the Voting Rights Act of 1965, as amended, promptly upon adoption of this resolution. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the proper officers and agents of Augusta, Georgia are hereby authorized to take any and all further actions as may be required in connection with the issuance of the Bonds as herein provided. AO 1294260.2 -4- " BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that the Mayor Pro Tem of Augusta, Georgia is authorized, empowered and directed to prepare, execute, file and deliver such instruments, certificates or other documents, including this resolution, and the Mayor Pro Tern of Augusta, Georgia is further authorized to acknowledge service and to make answer on behalf of the Consolidated Government in the validation proceedings for the Bonds and to take such other and further action as may be necessary or desirable to consummate the election relative to the issuance of the Bonds and to give full force and effect to this resolution. BE IT FURTHER RESOLVED by the authority aforesaid and it is hereby resolved by authority of the same, that this resolution shall take effect immediately upon its adoption, and any and all resolutions in conflict with this resolution are hereby repealed. Done this April ,2005. )M-mYor~~ ~c; ~,~ AO 1294260.2 -5- " , ' EXHIBIT A NOTICE OF CALL FOR SPECIAL ELECTION TO THE QUALIFIED VOTERS OF RICHMOND COUNTY, GEORGIA TO CONSIDER THE ISSUANCE OF GENERAL OBLIGATION BONDS NOTICE IS HEREBY GIVEN that under and by virtue of the Constitution and laws of the State of Georgia, a special election has been called to be held on June 21,2005, at the regular polling places in all the election districts of Richmond County, Georgia (the "County';), at which time there will be submitted to the qualified voters of the County for their determination the question of whether or not general obligation bonds (the "Bonds") shall be issued by Augusta, Georgia for the purpose of providing funds to payor to be applied toward the cost of acquiring, constructing and equipping additional public safety buildings and facilities, including but not limited to judicial facilities, sheriff's offices and jail facilities, renovating, repairing, demolishing, adding to and improving the existing public safety facilities of the County, acquiring apparatus, furnishings, equipment and fixtures useful or desirable in connection therewith and parking areas and facilities therefor, acquiring the necessary property or rights in property therefor, both real and personal, and to pay expenses necessary to accomplish the foregoing. Such Bonds, if authorized, shall be issued in the aggregate principal amount of $100,000,000, to be dated not later than the date of issuance and delivery thereof, in the form of fully registered bonds without coupons, transferable to subsequent owners as therein provided, in denominations of $5,000 or any integral multiple thereof, bearing interest from date at a rate or rates not exceeding 6 percent per annum, with the interest payable on January 1 and July 1 of each year, and the principal thereof maturing (by scheduled maturity or by mandatory . redemption at the option of the Augusta-Richmond County Commission (the '"Commission")) on July 1, in the years and amounts set forth in the following table: YEAR AMOUNT YEAR AMOUNT 2007 $1,360,000 2022 $3,255,000 2008 1,440,000 2023 3,450,000 2009 1,525,000 2024 3,655,000 2010 1,620,000 2025 3,875,000 2011 1,715,000 2026 4,110,000 2012 1,815,000 2027 4,355,000 2013 1,925,000 2028 4,615,000 2014 2,040,000 2029 4,895,000 2015 2,165,000 2030 5,185,000 2016 2,295,000 2031 5,500,000 2017 2,430,000 2032 5,830,000 2018 2,580,000 2033 6,180,000 2019 2,730,000 2034 6,550,000 2020 2,895,000 2035 6,940,000 2021 3,070,000 AO 1294260,2 -. . . The Bonds may be made subject to redemption prior to their respective maturities upon the terms and conditions to be determined by the Commission. The principal of and interest on the Bonds shall be payable in lawful money of the United States of America at a bank or trust company to be designated later. Voters desiring to vote for the issuance of said Bonds for the purpose set forth above shall do so by voting "YES" and voters desiring to vote against the issuance of said Bonds for such purpose shall do so by voting "NO" as to the question propounded, to wit: ( ) YES ( )NO "Shall General Obligation Bonds in the amount of $100,000,000 be issued by Augusta, Georgia for the purpose of providing funds to payor to be applied toward the cost of acquiring, constructing and equipping additional public safety buildings and facilities, including but not limited to judicial facilities, sheriff's offices and jail facilities, renovating, repairing, demolishing, adding to and improving the existing public safety facilities of the County, acquiring apparatus, furnishings, equipment and fixtures useful or desirable in connection therewith and parking areas and facilities therefor, acquiring the necessary property or rights in property therefor, both real and personal, and to pay expenses necessary to accomplish the foregoing?" In accordance with the provisions of Code Section 36-82-1(d) of the Official Code of Georgia Annotated, as amended, any brochures, listings or. other advertisements approved by the Commission pursuant to a resolution duly adopted by it shall be deemed to be a statement of intention concerning the use of the bond funds in accordance, or substantially in accordance, with the aforesaid purpose. The several places for holding said election shall be at the regular and established voting precincts of all of the election districts within the County, and the polls will be open from 7 a.m. to 7 p.m. on the date fixed for the election. AO 1294260.2 A-2 . ' , Those residents within the County qualified to vote at said election shall be determined in all respects in accordance with the election laws of the State of Georgia. Anyone desiring to vote in said referendum and not a qualified voter of said County must register no later than Monday, May 23, 2005 at any of the approved voter registration sites in Richmond County, Georgia in order to be eligible to vote. Inquiries regarding voter registration may be directed to the Board of Elections Office, Room 104, City-County Building, Augusta, Georgia, or by calling (706) 821- 2340. / EXECUTIVE DIRECTOR OF THE BOARD OF ELECTIONS OF RICHMOND COUNTY, GEORGIA By ~~~iu6 Lynn Bailey A-3 AO 1294260,2 -. . ' ACKNOWLEDGMENT OF RECEIPT I, Lynn Bailey, Executive Director of the Board of Elections of Richmond County, Georgia, do hereby acknowledge receipt of the foregoing certified copy of a resolution adopted by the Augusta-Richmond County Commission calling an election to be held on June 21, 2005, pertaining to the issuance or nouissuance of $100,000,000 aggregate principal amount of Augusta, Georgia General Obligation Bonds. I shall take such action in connection with said election as provided by law, WITNESS my hand this April J I~ 2005. EXECUTIVE DIRECTOR OF THE BOARD OF ELECTIONS OF RICHMOND COUNTY, ::OR:1~' Lynn Bailey l) AO 1294260.2 ~ .. v CLERK'S CERTIFICATE AUGUSTA, GEORGIA I, Lena Bonner, Clerk of the Augusta-Richmond County Commission, DO HEREBY CERTIFY that the foregoing pages constitute a true and correct copy of a resolution adopted by the Augusta-Richmond County Commission at a regular meeting duly called according to the provisions of the Georgia Open Meeting Law and lawfully assembled on March 29, 2005 and reconvened on March 31, 2005 and again reconvened on April 1, 2005, calling an election ofthe qualified voters within Richmond County, Georgia to determine the issuance or nonissuance of $100,000,000 aggregate principal amount of Augusta, Georgia General Obligation Bonds, the original of said resolution being duly recorded in the Minute Book of the Augusta-Richmond County Commission, which Minute Book is in my custody and control. I do hereby further certifY that the following members of the Augusta-Richmond County Commission were present at said meeting: Tommy Boyles, Commissioner Marion F. Williams, Mayor Pro Tem Betty Beard, Commissioner Andy Cheek, Commissioner Bobby Hankers~n, Commissioner Jimmy Smith, Commissioner Don Grantham, Commissioner and that the following members were absent: Barbara Sims, Commissioner Richard Colclough, Commissioner 'Willie H. Mays III, Commissioner and that said resolution was duly adopted by a vote of 0 Aye and / Nay, WITNESS my hand and the official seal of the Augusta-Richmond County Commission this April --J 2005. (S E A L) ~~ ~AJ - ~ - ~ -- AO 1294260,2 / . .J -, RESOLUTION TO REGULATE AND PROVIDE FOR THE CALLING OF AN ELECTION TO DETERMINE THE EXERCISE OR NON-EXERCISE OF REDEVELOPMENT POWERS UNDER CHAPTER 44 OF TITLE 36 OF THE OFFICIAL CODE OF GEORGIA ANNOTATED, THE "GEORGIA REDEVELOPMENT POWERS LAW," AS AMENDED IN ACCORDANCE WITH HOUSE BILL 773; TO RESCIND CONFLICTING RESOLUTIONS; AND FOR OTHER PURPOSES. WHEREAS, the Augusta-Richmond County Commission is the governing authority of Augusta-Richmond County; and WHEREAS, the Augusta-Richmond County Commission desires to promote economic redevelopment within Richmond County; and WHEREAS, the Augusta-Richmond County Commission seeks new economic development incentives that may be used to stimulate redevelopment of distressed and underdeveloped areas ofthe consolidated City-County; and WHEREAS, the Augusta-Richmond County Commission concluded that the Redevelopment Powers Law offers the most powerful and effective tools for stimulating redevelopment under Georgia law; and WHEREAS, before the Redevelopment Powers Law may be implemented, the Georgia General Assembly must adopt a local act calling for a referendum; and WHEREAS, the Augusta-Richmond County Commission passed a Resolution in March 2005 requesting that the local delegation introduce and pass such local legislation; and WHEREAS, the 2005 Georgia General Assembly enacted a certain local act known as HB 773 that authorizes the consolidated government of Augusta-Richmond County to exercise all powers under the Georgia Redevelopment Powers Law contingent upon the calling of a referendum on June 21, 2005, and a majority of the voters of Augusta-Richmond County approving the exercise of powers under the Redevelopment Powers Law. NOW, THEREFORE, it is hereby resolved as follows: I. There is hereby authorized to be called and there is hereby called an election to be held in all the precincts in Augusta-Richmond County, in conjunction with the Special Election on June 21, 2005, for the purpose of submitting to the qualified voters of Augusta-Richmond County the question of whether or not to authorize Augusta-Richmond County to exercise redevelopment powers as fully as the lIRedevelopment Powers Law" may now or hereafter 4 (4~ ~ permit, and not to limit any redevelopment powers permitted under the "Redevelopment Powers Law.u 2. The Augusta-Richmond County Election Superintendent shall cause the date and purpose of the election to be published once a week for two weeks immediately preceding the date thereof in the official organ of Augusta-Richmond County. The ballot shall have written or printed thereon the words: U( ) YES ( ) NO Shall the Act be approved which authorizes Augusta-Richmond County to exercise redevelopment powers under the 'Redevelopment Powers Law,' as it may be amended from time to time?U The ballot shall have printed thereon the words "YES" and "NO" in order that each voter may vote in either the affirmative or the negative as to the question propounded. 3. All Resolutions and parts of Resolutions in conflict with this Resolution are hereby rescinded to the extent of said conflict. This Resolution shall be recorded in the Minutes of the Augusta-Richmond County Commission and copies shall be distributed to all members of the Augusta-Richmond County legislation delegation. /Ilj DV'z; adopted by the Augusta-Richmond County Commission this ~ 11h day of %1 ~ ' 2005. Augusta-Richmond County Commission W A BY: ~~~~ {b ~. As Its ~ayo ATTES~;alJj;~ (SEAL) ... ,,~ .. NOTICE OF SPECIAL ELECTION TO THE QUALIFIED VOTERS OF AUGUSTA-RICHMOND COUNTY YOU ARE HEREBY NOTIFIED that on the 21st day of June 2005, a Special Election will be held in all of the precincts of Augusta- Richmond County. At the election there will be submitted to the qualified voters of Augusta- Richmond County for their determination the question of whether or not the local act should be approved which authorizes Augusta-Richmond County to exercise all redevelopment powers under the 'Redevelopment Powers Law,' as it may be amended from time to time. Voters desiring to vote for the approval of such act shall do so by voting "YES" and voters desiring to vote against shall do so by voting "NO," as to the question propounded, to wit: "( ) YES () NO Shall the Act be approved which authorizes Augusta-Richmond County to exercise redevelopment powers under the 'Redevelopment Powers Law,' as it may be amended from time to time?" The several places for holding the election shall be in the regular and established precincts of Augusta-Richmond County, and the polls will be open from 7:00 AM to 7:00 PM on the date fixed for the election. Those qualified to vote at the election shall be determined in all respects in accordance and in conformity with the Constitution and laws of the United States of America and of the State of Georgia. The last day to register to vote in this election is May 23 2005, through _PM. This notice is given pursuant to joint action of the Augusta-Richmond County Commission and the Election Superintendent. AUGUSTA-RICHMOND COUNTY BY: ~/4! AUGUSTA-RICm~rONDCOUNTY COMMISSION " I.!..,,~ ~~j' . Iti~ A&:itl:iuCHMOND CO ELECTION SUPERINTENDENT ~t.J; BY: ATLANTA:4721578,2 4/1/05