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HomeMy WebLinkAboutUNITED STATE OF AMERICA STATE OF GA AUGUSTA GA TAX ANTICIPATION NOTE /g 00 6(7 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. • -2- 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 -3- 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