City of Memphis, Tennessee - Sanitary Sewerage System Revenue Bonds and Revenue Refunding Bonds

The City of Memphis, Tennessee (the “City”) HEREBY PROVIDES NOTICE that on April 23, 2021, the City reached the threshold number of Bondholder Consents necessary to initiate the effectiveness of the Amended and Restated Master Resolution (the “Amended and Restated Master Resolution”) adopted by the City Council of the City on September 1, 2020. Thirty (30) days from the date of the first publication of this Notice (July 28, 2021) will be the effective date (the “Effective Date”) of the Amended and Restated Master Resolution, which will, at that time, amend, restate, and replace, in its entirety, the master resolution adopted by the City Council on February 24, 1981, as amended, pursuant to which the City’s outstanding Sanitary Sewerage System Revenue and Revenue Refunding Bonds were issued. On the Effective Date, the City intends that the Amended and Restated Master Resolution will (1) incorporate more modern provisions in comparison to the Existing 1981 Master Resolution; (2) clarify or augment guidance on certain matters not included, or not sufficiently detailed, in the Existing 1981 Master Resolution; and (3) more closely align certain provisions of the Existing 1981 Master Resolution with the City’s practices and procedures for managing both the revenues and obligations of its Sanitary Sewerage System.

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