City Council

City of Gallatin Council Committee Meeting February 11, 2025, 6:00 PM • Call to Order - Mayor Brown • Roll Call: Alexander - Carter - Fann - Fennell - Vice Mayor Hayes - Jones - Jouvence • Approval of Minutes • Public Recognition • Mayor's Comments AGENDA 1. ORDINANCE NO. O2502-9 AN ORDINANCE APPROPRIATING INSURANCE RECOVERY IN THE AMOUNT OF $1750.00 FOR REPLACEMENT OF BRICK MAILBOX AT GALLATIN PUBLIC WORKS (RICHARD DEPRIEST, PUBLIC WORKS DIRECTOR) 2. ORDINANCE NO. O2502-10 AN ORDINANCE APPROPRIATING FUNDS FOR REQUIRED SAFETY FOOTWEAR (RACHEL NICHOLS, FINANCE DIRECTOR) 3. RESOLUTION NO. R2502-5 A SIXTH SUPPLEMENTAL RESOLUTION TO THE MASTER RESOLUTION PERTAINING TO WATER AND SEWER REVENUE OBLIGATIONS, AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $30,200,000 IN AGGREGATE PRINCIPAL AMOUNT OF WATER AND SEWER SYSTEM REVENUE IMPROVEMENT BONDS, SERIES 2025 OF THE CITY OF GALLATIN, TENNESSEE; MAKING PROVISION FOR THE ISSUANCE, SALE AND PAYMENT OF SAID BONDS; AND ESTABLISHING THE TERMS THEREOF AND THE DISPOSITION OF PROCEEDS THEREFROM. (RACHEL NICHOLS, FINANCE DIRECTOR) 4. RESOLUTION NO. R2502-4 RESOLUTION AUTHORIZING THE PARKS AND RECREATION DEPARTMENT TO APPLY FOR A LOWE’S HOMETOWN GRANT (DAVID BROWN, PARKS AND REC DIRECTOR) • Other Business February 11, 2025 Council Committee Meeting Agenda - Page 1 Page 1 of 25 • Department Head Reports • Adjourn February 11, 2025 Council Committee Meeting Agenda - Page 2 Page 2 of 25  CITY OF GALLATIN COUNCIL COMMITTEE AGENDA FEBRUARY 11, 2025 DEPARTMENT: Public Works AGENDA # 1 ______________________________________________________________________________ SUBJECT: Appropriation of insurance recovery in the amount of $1750.00 for replacement of brick mailbox at Gallatin Public Works SUMMARY: RECOMMENDATION: ATTACHMENT: _ _ Resolution _ _ Correspondence _ _ Bid Tabulation _ _ Ordinance _ _ Contract _ _ Other ________________________________________________________________________ Approved __ __ Rejected __ __ Deferred __ __ ________________________________________________________________________ Notes: Page 3 of 25  ORDINANCE NO. O25Ø2-9 ORDINANCE APPROPRIATING INSURANCE RECOVERY IN THE AMOUNT OF $1750.00 FOR REPLACEMENT OF BRICK MAILBOX AT GALLATIN PUBLIC WORKS BE IT ORDAINED BY THE CITY OF GALLATIN, TENNESSEE, that the sum of $1,750.00 is hereby appropriated from account #110-36350, Insurance Recoveries, to account #110-43000-266, Repair and Maintenance Buildings, and BE IT FURTHER ORDAINED BY THE CITY OF GALLATIN, TENNESSEE, that this Ordinance shall take effect from and after its final passage, the public welfare requiring such. PASSED FIRST READING: . PASSED SECOND READING: ______________________________ MAYOR PAIGE BROWN ATTEST: _________________________________ CONNIE KITTRELL CITY RECORDER APPROVED AS TO FORM: ________________________________ SUSAN HIGH-MCAULEY CITY ATTORNEY Page 4 of 25  CITY OF GALLATIN COUNCIL COMMITTEE AGENDA 2/11/2025 DEPARTMENT: Finance AGENDA # 2 ______________________________________________________________________________ SUBJECT: Ordinance appropriating funds for safety footwear SUMMARY: Ordinance appropriating funds for required safety footwear, funded from revenues received from sale of surplus equipment and materials. The City's Safety Committee has established the requirement for certain positions to wear safety footwear while performing their jobs in an effort to reduce employee injuries. Since the footwear is required, the committee has recommended funding the purchases from revenues received each year from selling surplus equipment and materials. Going forward, the Safety Committee would like this to be funded annually during the budget process. RECOMMENDATION: Approval ATTACHMENT: _ _ Resolution _ _ Correspondence _ _ Bid Tabulation _ _ Ordinance _ _ Contract _ _ Other ________________________________________________________________________ Approved __ __ Rejected __ __ Deferred __ __ ________________________________________________________________________ Notes: Page 5 of 25  ORDINANCE NO. O25Ø2-10 ORDINANCE APPROPRIATING FUNDS FOR REQUIRED SAFETY FOOTWEAR BE IT ORDAINED BY THE CITY OF GALLATIN, TENNESSEE, that the sum of $100,000 is hereby appropriated from revenues collected from sale of surplus property, 110-36330, to account 11041590-326, Safety Boots/Shoes; and BE IT FURTHER ORDAINED BY THE CITY OF GALLATIN, TENNESSEE, that this Ordinance shall take effect upon passage, the public welfare requiring such. PASSED FIRST READING: PASSED SECOND READING: ______________________________ MAYOR PAIGE BROWN ATTEST: _________________________________ CONNIE KITTRELL, CITY RECORDER APPROVED AS TO FORM: ________________________________ SUSAN HIGH-MCAULEY, CITY ATTORNEY Page 6 of 25  CITY OF GALLATIN COUNCIL COMMITTEE AGENDA 2/11/2025 DEPARTMENT: Finance AGENDA # 3 ______________________________________________________________________________ SUBJECT: RESOLUTION AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $30,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF WATER/SEWER SYSTEM REVENUE BONDS, SERIES 2025 OF THE CITY OF GALLATIN, TENNESSEE; MAKING PROVISION FOR THE ISSUANCE, SALE AND PAYMENT OF SAID BONDS; ESTABLISHING THE TERMS THEREOF AND THE DISPOSITION OF PROCEEDS THEREFROM; PROVIDING FOR THE COLLECTION AND DISPOSITION OF REVENUES FROM THE WATER/SEWER SYSTEM OF THE MUNICIPALITY; AND MAKING PROVISION FOR THE OPERATION OF SAID SYSTEM. SUMMARY: Resolution authorizing the issuance of Water/Sewer revenue bonds not to exceed $30,000,000 for capital improvement projects related to the system RECOMMENDATION: Approval ATTACHMENT: _ _ Resolution _ _ Correspondence _ _ Bid Tabulation _ _ Ordinance _ _ Contract _ _ Other ________________________________________________________________________ Approved __ __ Rejected __ __ Deferred __ __ ________________________________________________________________________ Notes: Page 7 of 25  RESOLUTION NO. R2502-5 A SIXTH SUPPLEMENTAL RESOLUTION TO THE MASTER RESOLUTION PERTAINING TO WATER AND SEWER REVENUE OBLIGATIONS, AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $30,200,000 IN AGGREGATE PRINCIPAL AMOUNT OF WATER AND SEWER SYSTEM REVENUE IMPROVEMENT BONDS, SERIES 2025 OF THE CITY OF GALLATIN, TENNESSEE; MAKING PROVISION FOR THE ISSUANCE, SALE AND PAYMENT OF SAID BONDS; AND ESTABLISHING THE TERMS THEREOF AND THE DISPOSITION OF PROCEEDS THEREFROM. WHEREAS, the City of Gallatin, Tennessee (the “City”) owns and operates a water and sewer system (the “System”); and WHEREAS, under and by virtue of Sections 7-34-101 et seq. and 9-21-101 et seq., Tennessee Code Annotated (the “Act”), the City is authorized to issue bonds, interim certificates and notes (the “Revenue Obligations”) to, among other matters, finance the construction, acquisition, reconstructing, improvement or extension of the System and refund other obligations issued for such purposes; and WHEREAS, the City Council of the City did adopt on July 15, 2008 a Master Resolution (the “Master Resolution”) for the purpose of making covenants and agreements with respect to the Revenue Obligations, providing security for such Revenue Obligations, providing flexibility for System operations, and permitting the use of new financing devices and structures in the future; and WHEREAS, the City has determined that it is necessary and advisable to issue its Revenue Obligations for the purposes of providing funds to finance extensions and improvements to the System, and accordingly, is adopting this Supplemental Resolution for such purposes; and WHEREAS, the Master Resolution sets forth the covenants and agreements to be applicable for all Revenue Obligations relating to the System and the general security provisions for each type of Revenue Obligation to be issued by the City under the Master Resolution; and WHEREAS, each series of Revenue Obligations is to be issued in accordance with the provisions of the Master Resolution, including the provisions required for the issuance thereof, and pursuant to a resolution supplementing the Master Resolution providing for the particular terms of such Revenue Obligations. NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of Gallatin, Tennessee, as follows: ARTICLE I. DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION Section 1.01 Definitions. All capitalized terms used herein but not defined in the preamble hereto or in this Section 1.01 shall have the meanings ascribed to those terms in the Master Resolution. If any term is defined both in the Master Resolution and in this Supplemental Resolution, the terms used in this Supplemental Resolution shall have the meaning provided in this Supplemental Resolution. The following terms shall have the following meanings in this Supplemental Resolution unless the text expressly, or by necessary implication, requires otherwise: Page 8 of 25  “Closing Date” shall mean the date of the issuance and delivery of the Series 2025 Bonds. “Municipal Advisor” means Oakdale Municipal Advisors. “Outstanding Bonds” shall have the meaning ascribed to it in the preambles. “Project” shall mean extensions and improvements to the System. “Redemption Date” when used with respect to any Series 2025 Bonds to be redeemed shall mean the date on which it is to be redeemed pursuant hereto. “Redemption Price” when used with respect to any Series 2025 Bond to be redeemed shall mean the price at which it is to be redeemed pursuant thereto. “Refunded Bonds” mean the maturities and portions of maturities of the Outstanding Bonds designated for refunding pursuant to Section 5.02 hereof; “Series 2025 Bonds” shall mean the City's Water and Sewer Revenue Improvement Bonds, Series 2025. Section 1.02 Incorporation of Terms of Master Resolution. Except as specifically modified by this Supplemental Resolution, the terms, provisions and conditions of the Master Resolution shall be fully applicable to the Series 2025 Bonds and incorporated herein as if fully set forth. Section 1.03 Findings of the Governing Body. It is hereby found and determined by the Governing Body that the issuance of the Series 2025 Bonds pursuant to the terms hereof complies in all respects with the City's debt management policy. ARTICLE II. THE SERIES 2025 BONDS Section 2.01 Terms of Series 2025 Bonds; Book-Entry Form; Securities Depository. (a) For the purposes of providing funds to pay the Costs of the Project and to pay costs of issuance of the Series 2025 Bonds, there are hereby authorized to be issued Revenue Obligations in an aggregate principal amount of not to exceed $30,200,000. Except as otherwise provided herein, the Series 2025 Bonds shall be issued in fully registered form, without coupons, in a single series known as “Water and Sewer Revenue Improvement Bonds, Series 2025”, and shall bear such other series designation and dated date as shall be established pursuant to Section 2(b) hereof. The Series 2025 Bonds shall be dated the date of their delivery or such other date as shall be determined by the Mayor pursuant to Section 2(b) hereof. The Series 2025 Bonds shall bear interest from their date at a rate or rates not exceeding 6.00% per annum payable semi-annually on January and July in each year, commencing July 1, 2025. The Series 2025 Bonds shall mature, subject to prior redemption as hereinafter provided, either serially or through mandatory sinking fund redemptions as described herein, commencing on January 1, 2026 and ending no later than January 1, 2050, in such amounts as shall be established by the Mayor of the City, taking into account the cash flow and operational needs of the System. (b) The Series 2025 Bonds may be sold to one or more financial institutions (in any case, the “Underwriter”) at either a negotiated sale or a competitive public sale, as determined by the Mayor in consultation with the Municipal Advisor, at a price of not less than 98.00% of par, exclusive of original 2 Page 9 of 25 issue discount, plus accrued interest. The sale of the Series 2025 Bonds to the Underwriter shall be binding on the City, and no further action of the Governing Body with respect thereto shall be required. (c) If the Series 2025 Bonds are sold at negotiated sale, the Mayor is authorized to execute a bond purchase agreement, providing for the purchase and sale of the Series 2025 Bonds. If the Series 2025 Bonds are sold at a competitive public sale, the Series 2025 Bonds shall be awarded by the Mayor or the Finance Director to the bidder that offers to purchase the Series 2025 Bonds for the lowest true interest cost to the City. (d) In connection with the sale of the Series 2025 Bonds, the Mayor or the Finance Director, in consultation with the Municipal Advisor, is authorized with respect to the Bonds to: (i) change the dated date of the Series 2025 Bonds to a date other than their delivery date; (ii) change the first interest payment date of the Series 2025 Bonds to a date other than July 1, 2025; (iii) establish and adjust the principal and interest payment dates and the maturity amounts of the Series 2025 Bonds, or any series thereof, provided that (A) the total principal amount of all series of the Series 2025 Bonds does not exceed the total amount of Series 2025 Bonds authorized herein; and (B) the debt service payments on the Series 2025 Bonds shall not result in the Series 2025 Bonds being balloon indebtedness requiring the approval of the State Director of Local Finance; (iv) designate maturity amounts of the Series 2025 Bonds, provided the total principal amount does not exceed the total amount authorized herein; (v) establish the City’s optional redemption provisions with respect to the Series 2025 Bonds, provided the first optional redemption date shall not exceed ten and one-half years from the issuance of the Series 2025 Bonds, and the redemption premium, if any, shall not exceed two percent of the par amount of the Bonds called for redemption; (vi) sell the Series 2025 Bonds or any maturities thereof as term bonds with mandatory redemption requirements; and (vii) specify or change the series designation of the Series 2025 Bonds. (e) The Series 2025 Bonds shall be executed on behalf of the City, authenticated by the Bond Registrar as provided in Section 2.03 of the Master Resolution and delivered to the Underwriter. The officers of the City executing the Series 2025 Bonds are also authorized to execute, publish, and deliver all certificates and documents, including an official statement and closing certificates, as they shall deem necessary in connection with the sale and delivery of the Series 2025 Bonds. (f) The Series 2025 Bonds shall be issued in fully registered form without coupons in Authorized Denominations and shall be issued in book-entry form as provided in Section 2.10 of the Master Resolution. (g) The principal of and premium, if any, on the Series 2025 Bonds shall be payable in lawful money of the United States of America at the principal office of the Paying Agent. Payment of interest on the Series 2025 Bonds shall be made to the Owner thereof on the applicable Record Date by check mailed by the Paying Agent to such Owner at its address as it appears on the registration books maintained by the Bond Registrar or at such other address as is furnished to the Paying Agent in writing by such Owner, or in such other manner as may be mutually acceptable to the Paying Agent and the Owner of any Series 2025 Bond. While the Series 2025 Bonds are held under the Book-Entry System, all payments with respect to the Series 2025 Bonds shall be paid by wire transfer to the Securities Depository or its nominee. Any interest payments hereunder with respect to the Series 2025 Bonds shall accrue to but excluding the date of payment. If any payment with respect to Series 2025 Bonds would otherwise be payable on a date that is not a Business Day, such payment shall be made on the immediately succeeding Business Day without any additional interest accruing with respect thereto. (h) The Series 2025 Bonds shall be numbered as determined by the Registrar, provided that each Series 2025 Bond shall bear a number preceded by the prefix “R.” 3 Page 10 of 25  (i) The preparation and distribution of a Preliminary Official Statement describing the Series 2025 Bonds is hereby approved and ratified in all respects. After the Series 2025 Bonds have been sold, the Mayor shall make such completions, omissions, insertions and changes in the Preliminary Official Statement not inconsistent with this Supplemental Resolution as are necessary or desirable to complete it as a final Official Statement for purposes of Rule 15c2-12(b)(3) of the Securities and Exchange Commission. The Mayor is hereby authorized to deem the Preliminary Official Statement to be in final form as of its date, except for the omission of certain pricing and other information allowed to be omitted pursuant to such Rule 15c2-12(b)(1). The distribution of the Preliminary Official Statement and the Official Statement in final form shall be conclusive evidence that each has been deemed in final form as of its date by the Mayor except for the omission in the Preliminary Official Statement of such pricing and other information. (j) The City hereby covenants and agrees that it will provide such annual financial information and material event notices, if any, if and as required by Rule 15c2-12 of the Securities Exchange Commission for the Series 2025 Bonds. The Mayor is authorized to execute an agreement for the benefit of and enforceable by the owners of the Series 2025 Bonds specifying the details of the financial information and material event notices to be provided and its obligations relating thereto. Failure of the City to comply with the undertaking herein described and to be detailed in said closing agreement, shall not be a default hereunder, but any such failure shall entitle the owner or owners of any of the Series 2025 Bonds to take such actions and to initiate such proceedings as shall be necessary and appropriate to cause the City to comply with its undertaking as set forth herein and in said agreement, including the remedies of mandamus and specific performance. Section 2.02 Delivery of the Series 2025 Bonds. The City shall execute the Series 2025 Bonds and deliver them to the Trustee. Thereupon, the Trustee shall authenticate the Series 2025 Bonds and deliver them to, or on the order of, the Underwriter, as directed by the City in accordance with this Section 2.02. Before the Trustee delivers any Series 2025 Bonds, the Trustee shall have received a request and authorization to the Trustee on behalf of the City, signed by the Authorized Representative, to authenticate and deliver the Series 2025 Bonds to, or on the order of, the Underwriter upon payment to the Trustee of the amount specified therein, which amount shall be deposited as provided in Article IV hereof. Section 2.03 Form of Series 2025 Bonds. The Series 2025 Bonds and the certificate of authentication to be endorsed thereon are to be in substantially the form attached hereto as Exhibit A, with such variations as may be necessary and appropriate for numbers, dates and other matters. Section 2.04 Designation of Trustee, Paying Agent and Bond Registrar. The City hereby authorizes the Mayor to appoint the Trustee, Paying Agent and Bond Registrar under the Resolution with respect to the Series 2025 Bonds. Section 2.05 Security and Source of Payment. The Bonds shall be the sixth series of Revenue Obligations issued under the Resolution. Section 2.06 No Debt Service Reserve Account. The City hereby elects not to establish a Debt Service Reserve Account for the Series 2025 Bonds. Section 2.07 Sinking Fund Sub-Accounts. The City hereby establishes a “Series 2025 Sub- Account” in the Interest Account of the Sinking Fund, and a “Series 2025 Sub-Account” in the Principal Account of the Sinking Fund. The City shall make monthly deposits to such sub-accounts so long as the Series 2025 Bonds are Outstanding, beginning in the month following delivery of the Series 2025 Bonds. 4 Page 11 of 25  For the period commencing with the month following the delivery of the Series 2025 Bonds, to and including the month of the first interest payment date for the Series 2025 Bonds, each monthly deposit to the Series 2025 Sub-Account of the Interest Account shall be an amount that, together with all other monthly deposits of approximately equal amounts during such period and amounts otherwise in said sub-account, will be equal to interest due on the Series 2025 Bonds on the first interest payment date. Thereafter, each monthly deposit to the Series 2025 Sub-Account of the Interest Account shall be equal to not less than one- sixth (1/6th) of the interest coming due on the Series 2025 Bonds on the next interest payment date, net of any interest earnings on such amounts. For the period commencing with the month following the delivery of the Series 2025 Bonds to and including the month preceding the first principal payment for the Series 2025 Bonds, each monthly deposit to the Series 2025 Sub-Account of the Principal Account shall be an amount that, together with all other monthly deposits during such period and amounts otherwise in said sub-account, will be equal to the principal due on the Series 2025 Bonds on the first principal payment date (provided that, in the event that the first principal payment date is more than 13 months following the month next following delivery of the Series 2025 Bonds, monthly deposits to the Series 2025 Sub-Account of the Principal Account shall begin in the month which is 13 months prior to the month of the first principal payment date). Thereafter, each monthly deposit to the Series 2025 Sub-Account of the Principal Account shall be an amount equal to not less than one-twelfth (1/12th) of the principal amount coming due on the Series 2025 Bonds, whether by maturity or mandatory redemption, on the next principal payment date, net of any interest earnings on such amounts. No further deposit shall be required to be made to the Series 2025 Sub-Account of the Principal Account or Interest Account when the balances therein are equal to or greater than the amount needed to pay principal and interest (as applicable) on the next interest payment date. Section 2.08 Federal Tax Matters. The Series 2025 Bonds will be issued as federally tax- exempt bonds. The City hereby covenants that it will not use, or permit the use of, any proceeds of the Series 2025 Bonds in a manner that would cause the Series 2025 Bonds to be subjected to treatment under Section 148 of the Code, and applicable regulations thereunder, as an “arbitrage bond”. To that end, the City shall comply with applicable regulations adopted under said Section 148. The City further covenants with the registered owners from time to time of the Series 2025 Bonds that it will, throughout the term of the Series 2025 Bonds and through the date that the final rebate, if any, must be made to the United States in accordance with Section 148 of the Code, comply with the provisions of Sections 103 and 141 through 150 of the Code and all regulations proposed and promulgated thereunder that must be satisfied in order that interest on the Series 2025 Bonds shall be and continue to be excluded from gross income for federal income tax purposes under Section 103 of the Code. It is reasonably expected that the City will reimburse itself for certain expenditures made by it in connection with the Project by issuing the Series 2025 Bonds. This resolution shall be placed in the minutes of the Governing Body and shall be made available for inspection by the general public at the office of the Governing Body. This resolution constitutes a declaration of official intent under Treas. Reg. §1.150-2. The appropriate officers of the City are authorized and directed, on behalf of the City, to execute and deliver all such certificates and documents that may be required of the City in order to comply with the provisions of this Section related to the issuance of the Series 2025 Bonds. 5 Page 12 of 25  ARTICLE III. REDEMPTION OF SERIES 2025 BONDS Section 3.01 Redemption. The Series 2025 Bonds shall be subject to redemption prior to maturity in the amounts, at the times and in the manner provided in this Article III and the Series 2025 Bonds. Section 3.02 Optional Redemption. Subject to the adjustments permitted in Section 2.01(d) hereof, the Series 2025 Bonds maturing on or before January 1, 2035 shall mature without option of prior redemption. The Series 2025 Bonds maturing on January 1, 2036 and thereafter shall be subject to redemption, in whole or in part, prior to maturity at the option of the City on or after January 1, 2035 at any time at the price of par plus accrued interest to the redemption date. The City shall have the right to designate which maturities, or portions thereof, shall be redeemed in accordance with the immediately preceding sentence. The City shall give the Trustee at least 40 days’ notice of any redemption pursuant to this Section. Section 3.03 Mandatory Sinking Fund Redemption. The Series 2025 Bonds may be subject to mandatory redemption in part, at a Redemption Price equal to the principal amount thereof plus accrued interest from the sinking fund installments specified in the years and amounts as specified by an Authorized Representative in the Bond Purchase Agreement. At its option, to be exercised on or before the forty-fifth (45th) day next preceding any such redemption date, the City may (i) deliver to the Trustee for cancellation Series 2025 Bonds to be redeemed, in any aggregate principal amount desired, and/or (ii) receive a credit in respect of its redemption obligation under this mandatory redemption provision for any Series 2025 Bonds of the maturity to be redeemed which prior to said date have been purchased or redeemed (otherwise than through the operation of this mandatory sinking fund redemption provision) and canceled by the Trustee and not theretofore applied as a credit against any redemption obligation under this mandatory sinking fund provision. Each Series 2025 Bond so delivered or previously purchased or redeemed shall be credited by the Trustee at 100% of the principal amount thereof on the obligation of the City on such payment date and any excess shall be credited on future redemption obligations in chronological order, and the principal amount of Series 2025 Bonds to be redeemed by operation of this mandatory sinking fund provision shall be accordingly reduced. The City shall on or before the forty-fifth (45th) day next preceding each payment date furnish the Trustee with its certificate indicating whether or not and to what extent the provisions of clauses (i) and (ii) of this subsection are to be availed of with respect to such payment and confirm that funds for the balance of the next succeeding prescribed payment will be paid on or before the next succeeding payment date. Section 3.04 Payment of Series 2025 Bonds Upon Redemption. Upon redemption of all or any portion of any Series 2025 Bond, subject to Section 2.10 of the Master Resolution, payment of the applicable Redemption Price shall be made only upon surrender of such Series 2025 Bond. If, on the Redemption Date, sufficient moneys shall have been deposited with the Trustee to effect such redemption in accordance with this Supplemental Resolution, then interest shall cease to accrue on all Series 2025 Bonds or portions thereof so called for redemption. 6 Page 13 of 25  ARTICLE IV. DISPOSITION OF SERIES 2025 BOND PROCEEDS The proceeds of the sale of the Series 2025 Bonds shall be deposited with a financial institution regulated by and the deposits of which are insured by the Federal Deposit Insurance Corporation or similar federal agency, in a separate account within the Project Fund, to be known and designated as the “Series 2025 Account” to be kept separate and apart from all other funds of the City. Moneys in the Series 2025 Account shall be applied in accordance with Article XII of the Master Resolution. If, upon completion of the Project, any amount shall remain in the Series 2025 Account, such amounts shall be transferred to the Sinking Fund. ARTICLE V. MISCELLANEOUS Section 5.01 Resolution a Contract. The provisions of this Supplemental Resolution shall constitute a contract between the City and the registered owners of the Series 2025 Bonds, and after the issuance of the Series 2025 Bonds, no change, variation or alteration of any kind in the provisions of this Supplemental Resolution shall be made in any manner until such time as the Series 2025 Bonds and interest due thereon shall have been paid in full except as permitted herein. Section 5.02 Engagement of Bond Counsel. The Governing Body hereby authorizes the engagement of Bass, Berry & Sims PLC to serve as bond counsel to the City and the Municipal Advisor to serve as municipal advisor to the City in connection with the Series 2025 Bonds. The Mayor is hereby authorized to execute and deliver engagement letters or agreements with bond counsel and the Municipal Advisor, and all actions heretofore taken with respect thereto are hereby ratified and approved. Section 5.03 Separability. If any section, paragraph or provision of this Supplemental Resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this Supplemental Resolution. Section 5.04 Repeal of Conflicting Resolutions and Effective Date. All other resolutions and orders, or parts thereof, in conflict with the provisions of this Supplemental Resolution, are, to the extent of such conflict, hereby repealed and this Supplemental Resolution shall be in immediate effect from and after its adoption. Section 5.05 Governing Law. This Resolution shall be construed in accordance with the laws of the State of Tennessee. (signature page follows) 7 Page 14 of 25  BE IT FURTHER RESOLVED that this Resolution shall take effect from and after its final passage the public welfare requiring such. IT IS SO ORDERED. PRESENT AND VOTING: AYE: NAY: DATED: ________________________________________ MAYOR PAIGE BROWN ATTEST: CONNIE KITTRELL CITY RECORDER APPROVED AS TO FORM: SUSAN HIGH-MCAULEY CITY ATTORNEY 8 Page 15 of 25 STATE OF TENNESSEE ) COUNTY OF SUMNER ) I, Connie Kittrell, hereby certify that I am the duly qualified and acting City Recorder of the City of Gallatin, Tennessee, and as such official I further certify that attached hereto is a copy of excerpts from the minutes of a meeting of the City Council of the City held on ___________, 2025; that these minutes were promptly and fully recorded and are open to public inspection; that I have compared said copy with the original minute record of said meeting in my official custody; and that said copy is a true, correct and complete transcript from said original minute record insofar as said original record relates to not to exceed $30,200,000 in aggregate principal amount of Water and Sewer Revenue Improvement Bonds, Series 2025 of said City. WITNESS my official signature and seal of said City this _____ day of _________, 2025. City Recorder (SEAL) Page 16 of 25  EXHIBIT A (Form of Series 2025 Bond) No. R-_ UNITED STATES OF AMERICA COUNTY OF SUMNER CITY OF GALLATIN, TENNESSEE WATER AND SEWER REVENUE IMPROVEMENT BOND, SERIES 2025 INTEREST RATE MATURITY DATE: DATED DATE: CUSIP: % _____________ _________, 2025 REGISTERED OWNER: CEDE & CO. PRINCIPAL AMOUNT: $_________ THE CITY HAS ESTABLISHED A BOOK ENTRY SYSTEM OF REGISTRATION FOR THIS SERIES 2025 BOND. EXCEPT AS SPECIFICALLY PROVIDED OTHERWISE IN THE RESOLUTION, CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), WILL BE THE REGISTERED OWNER AND WILL HOLD THIS SERIES 2025 BOND ON BEHALF OF EACH BENEFICIAL OWNER HEREOF. BY ACCEPTANCE OF A CONFIRMATION OF PURCHASE, DELIVERY OR TRANSFER, EACH BENEFICIAL OWNER OF THIS SERIES 2025 BOND SHALL BE DEEMED TO HAVE AGREED TO SUCH ARRANGEMENT. CEDE & CO., AS REGISTERED OWNER OF THIS SERIES 2025 BOND, MAY BE TREATED AS THE OWNER OF IT FOR ALL PURPOSES. UNLESS THIS SERIES 2025 BOND IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE TRUSTEE FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, WITH RESPECT TO ANY SERIES 2025 BOND ISSUED THAT IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. KNOW ALL MEN BY THESE PRESENTS: That the City of Gallatin, Tennessee (the “City”), duly incorporated pursuant to the laws of the State of Tennessee, for value received hereby promises to pay to the registered owner hereof, hereinabove named, or registered assigns, in the manner hereinafter provided, the principal amount hereinabove set forth on the maturity date hereinabove set forth, or upon earlier redemption as set forth herein, and to pay interest (computed on the basis of a 360-day year of twelve 30-day months) on said principal amount at the annual rate of interest hereinabove set forth from the date hereof until said maturity date or redemption date, said interest being payable on _________________, and semi-annually thereafter on the first day of _________ and ________ in each year until this Bond matures or is redeemed. Both principal hereof and interest hereon are payable in lawful money of the United States of America at the corporate trust office of ___________________________, _____________________, ___________________, as Trustee, Paying Agent and Bond Registrar (the “Trustee”). The Trustee shall make all interest payments with respect to this Bond on each interest payment date to the registered owner hereof shown on the bond registration records maintained by the Trustee as of the close of business on the Page 17 of 25 fifteenth day of the month next preceding the interest payment date (the “Regular Record Date”) by check or draft mailed to such owner at such owner’s address shown on said bond registration records, without, except for final payment, the presentation or surrender of this Bond, and all such payments shall discharge the obligations of the City to the extent of the payments so made. Any such interest not so punctually paid or duly provided for on any interest payment date shall forthwith cease to be payable to the registered owner on the relevant Regular Record Date; and, in lieu thereof, such defaulted interest shall be payable to the person in whose name this Bond is registered at the close of business on the date (the “Special Record Date”) for payment of such defaulted interest to be fixed by the Trustee, notice of which shall be given to the owners of the Bonds of the issue of which this Bond is one not less than ten (10) days prior to such Special Record Date. Payment of principal of and premium, if any, on this Bond shall be made when due upon presentation and surrender of this Bond to the Trustee [provided, however, that principal payments made pursuant to mandatory sinking fund redemptions as provided herein shall be made without presentation and surrender of this Bond, except for final payment]. This Series 2025 Bond is one of a total authorized issue aggregating $__________ issued by the City for the purpose of (i) making extensions and improvements to its water and sewer system (such system, additions and improvements, together with all water and sewer system properties of every nature hereafter owned by the City, being collectively referred to herein as the “System”), including the payment of legal, fiscal, administrative and engineering costs incident thereto; and (ii) paying costs incident to the issuance of the Series 2025 Bonds under and in full compliance with the Constitution and statutes of the State of Tennessee, including Sections 7-34-101, et seq., Tennessee Code Annotated, and pursuant to a Master Resolution dated as of July 15, 2008 adopted by the City, as supplemented by the Supplemental Resolution No. 6 dated as of ____________, 2025 adopted by the City which authorized the issuance of the Series 2025 Bonds (such Master Resolution, as from time to time amended and supplemented, the “Resolution”). This Series 2025 Bond, and interest hereon are payable solely from and secured by a pledge of the revenues to be derived from the operation of the System subject only to the payment of the reasonable and necessary costs of operating, maintaining, repairing, and insuring the System, on parity with the City’s Water and Sewer Revenue Refunding and Improvement Bonds, Series 2011, Water and Sewer Revenue Refunding and Improvement Bonds, Series 2014, Water and Sewer Revenue Improvement Bonds, Series 2021A and Water and Sewer Revenue Refunding Bonds, Series 2021B (Federally Taxable). As provided in the Resolution, the punctual payment of principal of, premium, if any, and interest on the series of Series 2025 Bonds of which this Series 2025 Bond is one and any other bonds, notes and other obligations issued by or entered into by the City on a parity therewith pursuant to the terms of the Resolution shall be secured equally and ratably by said revenues without priority by reason of series, number or time of sale or delivery. The City has covenanted that it will fix and impose such rates and charges for the services rendered by the System and will collect and account for sufficient net revenues to pay promptly the principal of and interest on this Series 2025 Bond and the issue of which it is a part, as each payment becomes due. For a complete statement of the revenues from which and conditions under which this Series 2025 Bond is payable, a statement of the conditions on which obligations may hereafter be issued on parity with this Series 2025 Bond, the general covenants and provisions pursuant to which this Series 2025 Bond is issued and the terms upon which the Resolution may be modified, reference is hereby made to the Resolution. For so long as the Series 2025 Bonds are held in a book-entry-only system and so long as a Securities Depository or its nominee is the Registered Owner of the Series 2025 Bonds, references herein to the Registered Owners shall mean such Securities Depository and not the beneficial owners. Neither the Trustee nor the City shall be responsible or liable for maintaining, supervising or reviewing the records maintained by or the actions of (including, without limitation, the application of payments received with respect to the Series 2025 Bonds) the Securities Depository, its participants or persons acting through such participants. Page 18 of 25  The transfer of this Series 2025 Bond may be registered by the Registered Owner hereof in person or by his attorney duly authorized in writing, at the principal corporate office of the Trustee, but only in the manner, subject to the limitations and upon payment of the charges provided in the Resolution, and upon surrender and cancellation of this Series 2025 Bond. Upon such transfer a new registered Series 2025 Bond or Series 2025 Bonds of authorized denomination or denominations for the same aggregate principal amount will be issued to the transferee in exchange therefor. The City and the Trustee may deem and treat the Registered Owner hereof as the absolute owner hereof (whether or not this Series 2025 Bond shall be overdue) for all purposes, and neither the City nor the Trustee shall be bound by any notice or knowledge to the contrary. Optional Redemption by the City. Series 2025 Bonds of the issue of which this Bond is one maturing on or before January 1, 2035 shall mature without option of prior redemption. Series 2025 Bonds maturing on January 1, 2036 and thereafter shall be subject to redemption, in whole or in part, prior to maturity at the option of the City, on or after January 1, 2035, at any time at the price of par plus interest accrued to the redemption date. [Mandatory Sinking Fund Redemption. Subject to the credit hereinafter provided, the City shall redeem Series 2025 Bonds maturing in aggregate principal amounts equal to the respective dollar amounts set forth below opposite the redemption dates at a price of par plus accrued interest thereon to the date of redemption. DTC, as securities depository for the series of Series 2025 Bonds of which this Series 2025 Bond is one, or any successor depository for the Series 2025 Bonds, shall determine the interest of each participant in the Series 2025 Bonds to be redeemed using its procedures generally used at that time. If DTC, or another securities depository is no longer serving as securities depository for the Series 2025 Bonds, the Series 2025 Bonds to be redeemed within a maturity shall be selected by the Trustee by lot or such other random manner as the Trustee in its discretion shall select. The dates of redemption and amount of Series 2025 Bonds to be redeemed on said dates are as follows: Principal Amount of Redemption Date Series 2025 Bonds to be Redeemed At its option, to be exercised on or before the forty-fifth (45th) day next preceding any such redemption date, the City may (i) deliver to the Trustee for cancellation Series 2025 Bonds to be redeemed, in any aggregate principal amount desired, and/or (ii) receive a credit in respect of its redemption obligation under this mandatory redemption provision for any Series 2025 Bonds of the maturity to be redeemed which prior to said date have been purchased or redeemed (otherwise than through the operation of this mandatory sinking fund redemption provision) and canceled by the Trustee and not theretofore applied as a credit against any redemption obligation under this mandatory sinking fund provision. Each Series 2025 Bond so delivered or previously purchased or redeemed shall be credited by the Trustee at 100% of the principal amount thereof on the obligation of the City on such payment date and any excess shall be credited on future redemption obligations in chronological order, and the principal amount of Series 2025 Bonds to be redeemed by operation of this mandatory sinking fund provision shall be accordingly reduced. The City shall on or before the forty-fifth (45th) day next preceding each payment date furnish the Trustee with its certificate indicating whether or not and to what extent the provisions of clauses (i) and (ii) of this paragraph are to be availed of with respect to such payment and confirm that funds for the balance of the next succeeding prescribed payment will be paid on or before the next succeeding payment date.] Page 19 of 25  Notice of Redemption. Notice of any redemption shall be given by the Trustee on behalf of the City by mailing a copy of an official redemption notice by first-class mail, at least 15 days and not more than 60 days prior to the date fixed for redemption to the registered owner of the Series 2025 Bond or Bonds to be redeemed at the address shown on the Bond Register, or at such other address as is furnished in writing by such registered owner to the Trustee. It is hereby certified, recited, and declared that all acts, conditions and things required to exist, happen and be performed precedent to and in the issuance of this Series 2025 Bond exist, have happened and have been performed in due time, form and manner as required by law, and that the amount of this Series 2025 Bond, together with all other indebtedness of the City, does not exceed any limitation prescribed by the constitution and statutes of the State of Tennessee. Page 20 of 25  IN WITNESS WHEREOF, the City of Gallatin, Tennessee has caused this Series 2025 Bond to be executed in its name by the signature of its Mayor, and attested by the signature of its City Recorder. CITY OF GALLATIN, TENNESSEE By: ________________________________ Mayor Attest: By: ____________________________ City Recorder Page 21 of 25  CERTIFICATE OF AUTHENTICATION Date of Authentication: ______________________ This Series 2025 Bond is one of the Series 2025 Bonds of the issue described in the within- mentioned Resolution. ____________________________, as Trustee By: _____________________________________ Authorized Signatory Page 22 of 25  (Form for Transfer) FOR VALUE RECEIVED, _______________ the undersigned, hereby sells, assigns and transfers unto _______________________ (Tax Identification or Social Security No. ______________) the within Series 2025 Bond and all rights thereunder, and hereby irrevocably constitutes and appoints _____________________ attorney to transfer the within Series 2025 Bond on the books kept for registration thereof, with full power of substitution in the premises. Dated: ______________ Signature Guarantee: ___________________________ (Authorized Officer) _______________________________ NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Series 2025 Bond in every particular, without alteration or enlargement or any change whatever. __________________________________ NOTICE: Signature must be guaranteed by an institution which is a participant in the Securities Transfer Agent Medallion Program (STAMP) or similar program. 46607531.2 Page 23 of 25  CITY OF GALLATIN COUNCIL COMMITTEE AGENDA February 11, 2025 DEPARTMENT: Parks and Recreation AGENDA # 4 ______________________________________________________________________________ SUBJECT: Resolution Authorizing the Parks and Recreation Department to Apply for a Lowe's Hometown Grant SUMMARY: Resolution authorizing the Parks and Recreation Department to apply for a Lowe's Hometown Grant. The opportunities are for Clearview Park, Langley Hall, and East Main Street Park. The grant would allow Parks and Recreation to do work and improvements at Clearview Park, or construct a cross-country trail at Langley Hall, or construct a walking trail with a shelter/pavilion at East Main Street Park. The maximimu amount that can be requrested is $300,000 and the grant is 100% funded by Lowe's. RECOMMENDATION: Approval ATTACHMENT: _ _ Resolution _ _ Correspondence _ _ Bid Tabulation _ _ Ordinance _ _ Contract _ _ Other ________________________________________________________________________ Approved __ __ Rejected __ __ Deferred __ __ ________________________________________________________________________ Notes: Page 24 of 25  RESOLUTION NO. R25Ø2-4 RESOLUTION AUTHORIZING THE PARKS AND RECREATION DEPARTMENT TO APPLY FOR A LOWE’S HOMETOWN GRANT WHEREAS, the Parks and Recreation Department requests City Council approval to apply for three Lowe’s Hometown Grant opportunities. The opportunities are for Clearview Park, Langley Hall, and East Main Street Park; and WHEREAS, if awarded one or all three sites, the grant opportunity would allow the Parks and Recreation Department to do work and improvements at Clearview Park or construct a cross-country trail at Langley Hall, or construct a walking trail with a shelter/pavilion at East Main Street Park; and WHEREAS, the maximum amount that can be requested is $300,000 and the grant is 100% funded by Lowe’s; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF GALLATIN, TENNESSEE, that the City Council hereby authorizes the Parks and Recreation Department to apply for the Lowe’s Hometown Grant; and BE IT FURTHER RESOLVED BY THE CITY OF GALLATIN, TENNESSEE, that this Resolution shall take effect from and after its final passage, the public welfare requiring such. IT IS SO ORDERED. PRESENT AND VOTING: AYE: NAY: DATED: ___________________________________ MAYOR PAIGE BROWN ATTEST: APPROVED AS TO FORM: ____________________________ ________________________ CONNIE KITTRELL SUSAN HIGH-MCAULEY CITY RECORDER CITY ATTORNEY Page 25 of 25