Sports Authority of the City of Crossville

City of Crossville 392 North Main Street Crossville, TN 38555 Minutes Tuesday, September 3, 2024 12:00 PM Conference Room 317 Sports Authority of the City of Crossville Sports Authority of the City of Minutes September 3, 2024 Crossville REGULAR MEETING Call to Order Roll Call Present 5 - Lou Morrison, Sheryl Webb, Mark Moore, Brock Hill, and Ethan Hadley Absent 2 - Tracey Barnes, and Rob Patton Others present were City Manager Valerie Hale, City Attorney Randy York, City Clerk Baylee Rhea, Bailey Walker, Jessie Brooks, Nathan Clouse, Public Comment There were no comments made. Agenda Items 1. Approval of minutes A motion was made by Ethan Hadley, seconded by Mark Moore, that this to approve the previous month's meeting minutes. The motion carried by the following vote: Aye: 5- Morrison, Webb, Moore, Hill and Hadley Absent: 2- Barnes and Patton 2. Approval of a resolution for the purpose of Section 147(f) of the Revenue Code A resolution must be passed in regards to Section 147(f) of the Revenue Code. This states a Public Hearing was held in regards to the formation of the Sports Authority and the issuance of bonds. A motion was made by Brock Hill, seconded by Mark Moore, to approve a resolution for the purpose of Section 147(f) of the Revenue Code. The motion carried by the following vote: Aye: 5- Morrison, Webb, Moore, Hill and Hadley Absent: 2- Barnes and Patton 3. Discussion and action regarding items related to the issuance of bonds Mr. Kidwell explained an initial resolution regarding the issuance of bonds is needed. A motion was made by Brock Hill, seconded by Mark Moore, to approve the City of Crossville Page 1 Sports Authority of the City of Minutes September 3, 2024 Crossville initial resolution for bonds. The motion carried by the following vote: Aye: 5- Morrison, Webb, Moore, Hill and Hadley Absent: 2- Barnes and Patton 4. Update on legal and financial matters Mr. Larry Kidwell stated he has been working with YMCA and bond counsel. There are a number of documents to that will need to be passed that allows Mr. Kidwell to sell bonds. Mr. Kidwell also updated the board members on a timeline for closing on the bonds. Mr. Randy York stated there are a number of complicated documents, lengthy documents. He is working with Mr. Regen so they are prepared properly prepared. This update was received. 5. Other Business There was no other business at this time. Adjournment A motion was made by Sheryl Webb 12:08 p.m., seconded by Ethan Hadley, to adjourn the meeting. The motion carried unanimously. _______________________________ Chair _______________________________ Secretary City of Crossville Page 2