General Obligation Bonds of Lewis County

INITIAL RESOLUTION AUTHORIZING THE ISSUANCE OF NOT TO EXCEED SEVEN MILLION TWO HUNDRED TWENTY-FIVE THOUSAND DOLLARS ($7,225,000) GENERAL OBLIGATION BONDS OF LEWIS COUNTY, TENNESSEE

BE IT RESOLVED by the Board of County Commissioners (the “Board”) of Lewis County, Tennessee (the “County”) that for the purpose of providing funds to (a) finance, in whole or in part, the (i) acquisition, construction, improvement, repair, renovation and equipping of public buildings, including but not limited to jails and jail facilities; (ii) acquisition of all property, real and personal related to such projects; (iii) payment of legal, fiscal, administrative, architectural and engineering costs incident to any or all of the foregoing; and (iv) reimbursement to the appropriate fund of the County for prior expenditures for the foregoing costs; and (b) pay costs incident to the issuance and sale of such bonds, there shall be issued bonds, in one or more emissions, of said County in the aggregate principal amount of not to exceed $7,225,000, which shall bear interest at a rate or rates not to exceed the maximum rate permitted under Tennessee law, and which shall be payable from unlimited ad valorem taxes to be levied on all taxable property within the County.

BE IT FURTHER RESOLVED by the Board that the County Clerk of the County be, and is, hereby directed and instructed to cause the foregoing initial resolution relative to the issuance of not to exceed $7,225,000 general obligation bonds to be published in full in a newspaper having a general circulation in the County, for one issue of said paper followed by the statutory notice, to-wit:

N O T I C E

The foregoing resolution has been adopted. Unless within twenty (20) days from the date of publication hereof a petition signed by at least ten percent (10%) of the registered voters of the County shall have been filed with the County Clerk of the County protesting the issuance of the bonds, such bonds will be issued as proposed.

Sandra F. Clayton, County Clerk