On Sept. 24, at 10 a.m. the City of Crossville held a special called meeting in Conference Room 317 at city hall to discuss the recently established Sport’s Authority’s findings which include the approval of construction and a $40,000 bond issuance to the city.
According to documents provided by the city:
“… the Authority’s board of directors (the “Board”) has determined it to be desirable and expedient to construct a family entertainment, sports and recreation center (the “Facility”), and upon completion of construction thereof to lease the same to Putnam County Family Young Men’s Christian Association (the “YMCA”)
… (all of such design and construction expenses are hereinafter collectively referred to as the “Project”) through issuance of its Public Facility Revenue Bonds, Series 2024 in one or more series in an aggregate amount not to exceed $40,000,000 (the “Series 2024 Bonds” or the “Bonds”), and September 20, 2024, has adopted a bond resolution (the “Bond Resolution”) authorizing the Bonds’ issuance, establishing certain terms thereof, authorizing the sale thereof, and providing for the payment of the principal, premium (if any), and interest accruing thereon …”
The council will also discuss the authority’s findings on the project’s location and more.
“and WHEREAS the City has agreed to transfer to the Authority by gift certain real property (the “Project Site”) belonging to the City, the same consisting of approximately 8.5 acres, more or less, located within the City’s jurisdiction at the intersection of Livingston Road and North Main Street (U.S. Highway 127), to be used by the Authority to develop the Facility thereon; and WHEREAS the Authority has determined it to be expedient to finance the costs of acquisition, design, construction and equipping the Facility, together with the costs of design and construction of such improvements to public infrastructure as may be necessary or helpful in connection”
The special called meeting will feature:
- Approval of a resolution approving the issuance of bonds by the Sports Authority of the City of Crossville
- Approval of a resolution for an Intergovernmental Agreement
- Approval of a resolution for the execution of an operating and lease agreement
- Approval of a resolution to transfer real property
- Approval of a resolution of compliance
- Approval of a resolution for a Continuing Disclosure Agreement Approval of a resolution to authorize a designee
- Discussion and action of other relative matters
This is an ongoing story. Check back for updates.
Artist rendering above via crossvillerecreationcenter.com.
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