The City of Memphis, Tennessee (the “City”) HEREBY PROVIDES NOTICE that on September 1, 2020, the City Council of the City (the “City Council”) adopted an Amended and Restated Master Resolution (the “Amended and Restated Master Resolution”) which will, upon its effective date (the “Effective Date”), amend, restate, and replace, in its entirety, the master resolution adopted by the City Council on February 24, 1981, as amended (the “Existing 1981 Master Resolution”) 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. Electronic copies of (1) the Amended and Restated Master Resolution, and summary of the same; and (2) the City’s Bondholder Consent Solicitation Statement, dated March 3, 2021, may be found at the following respective weblinks:
NOTICE TO BONDHOLDERS OF ADOPTION OF AMENDED AND RESTATED MASTER RESOLUTION - City of Memphis, Tennessee - Sanitary Sewerage System Revenue Bonds and Revenue Refunding Bonds_031521
March 15, 2021, 12:01 a.m. EDT 1 Min Read
This article originally appeared in The Bond Buyer.