Title
Discussion and action regarding organizational matters
Body
SUMMARY:
i. The board’s appointment of one of its members to serve as its chairman;
ii. Adoption of bylaws;
iii. Appointment of members of the board of directors to the offices of Chair, Vice Chair, Secretary, and Treasurer, as well as such other officers as the board may deem expedient;
iv. Approval of the corporation’s establishment of such bank accounts and other financial relationships as the board may deem expedient;
v. Adoption of an official seal of the corporation;
vi. Designation of a registered main office and principal place of business and appointment of a registered agent for service of process upon the corporation at such location;
vii. Establishment of a schedule of regular meetings of the board of directors and causing such schedule for the first year to be published in a newspaper of general circulation;
viii. Appointing counsel to the Sports Authority;
ix. Appointing a Municipal Advisor in connection with the issuance of the Sports Authority’s not to exceed $39,500,000 Public Facility Revenue Bonds, Series 2024A (Tax-Exempt) and its $500,000 Public Facility Revenue Bonds, Series 2024B (Federally Taxable) (collectively and severally, the “Series 2024 Bonds”) and approving his contract;
x. Appointing bond counsel in connection with issuance of the Series 2024 Bonds and approving engagement letter.
Recommended Action
NECESSARY COUNCIL ACTION: approve