Title
Discussion and action regarding instruments related to bonds
Body
SUMMARY:
Consideration and discussion of, and voting on, any necessary or expedient amendments to documents, agreements, or approvals in respect of the issuance by Sports Authority of the City of Crossville (the “Sports Authority”) of its $40,000,000* Public Facility Revenue Bonds, Series 2024 (the “Series 2024 Bonds”), including but not limited to the following instruments and transactions as approved by the City Council on September 24, 2024 -
i. an Intergovernmental Agreement by and between the City and the Sports Authority;
ii. a Lease and Operating Agreement by and among the City, the Sports Authority, and Putnam County Family Young Men’s Christian Association;
iii. a Trust Indenture between the Sports Authority as the trustor and U.S. Bank Trust Company, National Association as the trustee;
iv. a Continuing Disclosure Agreement between the City and the underwriter(s) in respect of the Series 2024 Bonds; and,
v. the issuance of the Series 2024 Bonds by the Sports Authority in conformity with the detailed bond resolution adopted or to be adopted by the Sports Authority.
*Preliminary; subject to change
Recommended Action
NECESSARY COUNCIL ACTION: approve