City Council

FACT SHEET

TITLE DATE ORIGINATING DEPARTMENT

A RESOLUTION OF NOVEMBER 10, 2009 DEPARTMENT OF

THE CITY COUNCIL OPERATIONAL SERVICES

OF THE CITY OF

SHREVEPORT ANNULLING,

RESCINDING AND/OR SPONSOR

REPEALING RESOLUTION

NO. 197 OF 2009 SAME

PURPOSE

This resolution will annul, rescind and/or repeal the resolution previously passed on October 13, 2009. An additional resolution will be presented to the City Council November 10, 2009 for consideration to take the place of the resolution being rescinded.

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BACKGROUND INFORMATION

DHH requested a minor change in the wording of the Public Hearing Notice with respect to the issue of the $15,000,000 DHH bonds, specifically language including the administrative fee with the interest rate.  This has nothing to do with the calculations and the interest rate will not exceed 2.95%, as originally stated.  However, this slight change required the City to re-advertise and hold a new public hearing just like the public hearing held on October 13th. According to DHH, this will not delay funding. The City made the requested change, re-advertised and held a new public hearing. Therefore, the resolution passed after the public hearing on October 13, 2009 needs to be rescinded. A separate new resolution is on the agenda for adoption.

TIMETABLE

Introduction and Final Passage - November 10, 2009

PROCEDURAL REQUIREMENTS

None

ALTERNATIVES

1. Adopt the Resolution as presented.

2. Deny the Resolution.

CONCLUSION

Alternative Number 1 is recommended.

FACT SHEET PREPARED BY: Terri Anderson-Scott

City Attorney

RESOLUTION NO. _____ OF 2009

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SHREVEPORT ANNULLING, RESCINDING AND/OR REPEALING RESOLUTION NO. 197 OF 2009

BY:

WHEREAS, the Mayor and City Council of the City of Shreveport, State of Louisiana (the “City”), acting as the governing authority of the City (the “Governing Authority”), adopted Resolution No. 197 of 2009 on October 13, 2009 accepting the findings of a public hearing held pursuant to a Notice of Intention (the “Notice”) to issue, sell and deliver not to exceed Fifteen Million Dollars ($15,000,000 Taxable Water and Sewer Revenue Bonds, Series 2009 (DHH Water Project) (the “Bonds”); and

WHEREAS, the Louisiana Department of Health and Hospitals, Office of Public Health (“DHH”), the proposed purchaser of the Bonds, has requested a change in the Notice and the City has agreed to such change; and

WHEREAS, the effect of such change requires a new public hearing and acceptance for the findings thereof by the Governing Authority; and

WHEREAS, in order to properly effectuate such changes, the Prior Resolution should be annulled, rescinded and/or repealed in its entirety.

NOW, THEREFORE, BE IT RESOLVED by the Mayor and City Council of the City of Shreveport, State of Louisiana, acting as governing authority of said City (the “Governing Authority”), that:

SECTION 1. Rescission. Resolution No. 197 of 2009 is hereby annulled, rescinded and/or repealed in its entirety.

BE IT FURTHER RESOLVED that the Governing Authority hereby authorizes and directs officials of the City to do any and all things necessary and incidental to carry out the provisions of this resolution.

BE IT FURTHER RESOLVED that if any provision or item of this resolution or the application thereof is held invalid, such invalidity shall not affect other provisions, items or applications of this ordinance which can be given effect without the invalid provisions, items or applications and to this end the provisions of this resolution are hereby declared severable.

BE IT FURTHER RESOLVED that all ordinances or resolutions or parts thereof in conflict herewith are hereby repealed.

APPROVED AS TO LEGAL FORM:

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City Attorney’s Office

THUS DONE AND SIGNED at Shreveport, Louisiana, on this, the 10th day of November, 2009.

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Cedric B. Glover, Mayor

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Arthur G. Thompson, Clerk

RESOLUTION NO. _____ OF 2009

November_____, 2009

Read by title and as read motion by Councilman _________________ seconded by Councilman _____________________ for adoption. Approved by the following vote:

Ayes: Councilmen:

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Nays: Councilmen:

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Absent: Councilmen:

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Abstaining: Councilmen:

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Ronald Webb, Chairman

Approved:

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Cedric B. Glover, Mayor

Approved by the City Council _____________________

Approved by the Mayor ____________________________

And Effective On __________________________________

At 12:01 O'Clock A.M.

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Arthur G. Thompson, Clerk of Council