HomeMy WebLinkAboutUNITED STATE OF AMERICA STATE OF GA AUGUSTA GA TAX ANTICIPATION NOTE /g
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A UNITED STATES OF AMERICA
STATE OF GEORGIA
AUGUSTA, GEORGIA
TAX ANTICIPATION NOTE
Number R -1 Principal Amount $8,000,000
Date of Original Issue: Maturity Date: Interest Rate:
March 7, 2014 October 1, 2014 1.05%
Registered Owner: Georgia Bank & Trust Company of Augusta
KNOW ALL MEN BY THESE PRESENTS: AUGUSTA, GEORGIA, A
POLITICAL SUBDIVISION OF THE STATE OF GEORGIA, for value received and in
consideration of money borrowed, hereby promises to pay to the Registered Owner shown
above, or registered assigns, without option of prior redemption, on the Maturity Date identified
above, the Principal Amount identified above, together with interest on the unpaid Principal
Amount at the Interest Rate per annum identified above, from the Date of Original Issue
identified above until the Principal Amount has been fully paid, such interest being payable upon
retirement of this Note and computed on the basis of a 360 -day year consisting of twelve 30 -day
months. Both principal hereof and interest hereon are payable in lawful money of the United
States of America by the method and at the address specified for such purpose by the registered
owner of this Note in writing to the Administrator, Augusta, Georgia, 530 Greene Street, Room
801, Augusta, Georgia 30901, without the presentation or surrender of this Note, except that
upon the request of the Consolidated Government (as hereinafter defined), the registered owner
of this Note shall surrender this Note for cancellation, reasonably promptly after any such
request, to the Consolidated Government.
This Note is one of an issue aggregating $8,000,000 in principal amount, authorized by a
Resolution duly adopted by the Augusta- Richmond County Commission (the "Governing
Body ") on the 4th day of March 2014, and in accordance with Article IX, Section V, Paragraph
V of the Constitution of the State of Georgia of 1983 and Section 36 -80 -2 of the Official Code of
Georgia Annotated, as amended, for the purpose of obtaining a temporary loan to pay expenses
of Augusta, Georgia (the "Consolidated Government ") in calendar year 2014.
This Note is issued in anticipation of the collection of taxes levied or to be levied for the
calendar year 2014. The aggregate amount of all such Notes, together with other temporary
loans obtained by the Consolidated Government to pay expenses of the Consolidated
Government in calendar year 2014, does not exceed 75% of the total gross income from taxes
collected by the Consolidated Government in calendar year 2013 and does not exceed, together
with other contracts, notes, warrants, and obligations of the Consolidated Government for current
expenses in calendar year 2014, the total anticipated revenues of the Consolidated Government
for calendar year 2014.
This Note is issuable only in registered form without coupons in the denomination of
$100,000 or any integral multiple of $5,000 in excess thereof. The registered owner of this Note
4 may, if not prohibited by law, surrender the same (together with a written instrument of transfer
satisfactory to the Consolidated Government duly executed by the registered owner or its
attorney duly authorized in writing) in exchange for an equal aggregate principal amount of
Notes of the same interest rate and maturity and of any other authorized denominations. This
Note is transferable by the registered owner in person or by the owner's attorney duly authorized
in writing at the office of the Consolidated Government set forth above, upon surrender of this
Note accompanied by a duly executed instrument of transfer, in form and with guarantee of
signature satisfactory to the Consolidated Government, and upon payment of any governmental
charges or taxes incident to such transfer. Upon any such transfer, a new Note or Notes in the
same aggregate principal amount and of the same interest rate and maturity and in authorized
denominations will be issued to the transferee. The Consolidated Government may deem and
treat the person in whose name this Note is registered as the absolute owner hereof (whether or
not this Note shall be overdue) for the purpose of receiving payment of, or on account of, the
principal of and interest due on this Note and for all other purposes, and the Consolidated
Government shall not be affected by any notice to the contrary.
It is hereby certified, recited, and declared that all acts, conditions, and things required by
law to be done precedent to and in the issuance of this Note have been properly done, have
happened, and have been performed in the manner required by the Constitution and statutes of
the State of Georgia relating thereto; that the tax levies in anticipation of which this Note is
issued are or will be valid and legal levies; that the Consolidated Government will use a
sufficient amount of the proceeds of such tax levies and other available funds for the payment of
this Note and the interest thereon; and that this Note, together with all other indebtedness of the
Consolidated Government, is within every debt or other limit provided by the Constitution and
statutes of the State of Georgia.
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ATLANTA 5548452.1
IN WITNESS WHEREOF, Augusta, Georgia, acting by and through its Governing
Body, has caused this Note to be executed in its name by the manual signature of its Mayor,
attested by the manual signature of the Clerk of Commission, and the official seal of the
Consolidated Government to be impressed hereon, all as of the Date of Original Issue set forth
above.
AUGUSTA, GEORGIA r
(SAL)%
i By:
Mayor
Attast: /
Y ')a.,cp. /
4 .. Clerk ofU'ommission
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ATLANTA 5548452.1
The following abbreviations, when used in the inscription on this Note or in the
assignment below, shall be construed as though they were written out in full according to
applicable laws or regulations:
TEN COM - as tenants in common
TEN ENT - as tenants by the entireties
JT TEN - as joint tenants with right of survivorship and not as tenants in
common and not as community property
UNIF TRANS
MIN ACT - Custodian
(Custodian) (Minor)
under Uniform Transfers to Minors Act
(State)
Additional abbreviations may be used although not in the above list.
ASSIGNMENT AND TRANSFER
FOR VALUE RECEIVED, the undersigned sells, assigns, and transfers unto
(Name and Address of Assignee)
(Insert Social Security or Taxpayer
Identification Number of Assignee)
the within note of Augusta, Georgia and does hereby irrevocably constitute and appoint
attorney to transfer the Note on the books kept for registration thereof
with full power of substitution in the premises.
Dated:
(Signature Guaranteed) Registered Owner
Notice: Signature(s) must be guaranteed Notice: The signature(s) on this
by an eligible guarantor institution (such assignment must correspond with the
as banks, stockbrokers, savings and loan name as it appears on the face of the
associations, and credit unions) with within Note in every particular without
membership in an approved Signature alteration or enlargement or any change
Guarantee Medallion Program pursuant to whatsoever.
S.E.C. Rule 17Ad -15.
ATLANTA 5548452.1