Sports Authority of the City of Crossville

City of Crossville 392 North Main Street Crossville, TN 38555 Minutes Friday, September 20, 2024 12:00 PM Conference Room 317 Sports Authority of the City of Crossville Sports Authority of the City of Minutes September 20, 2024 Crossville SPECIAL CALLED MEETING Call to Order The Sports Authority of the City of Crossville met for a Special Called meeting on Friday, September 20th, 2024 at Crossville City Hall. Chair Tracey Barnes was present and presiding. She called the meeting to order at 12:04 p.m. Roll Call Present 7 - Lou Morrison, Sheryl Webb, Tracey Barnes, Mark Moore, Brock Hill, Rob Patton, and Ethan Hadley Others present were City Manager Valerie Hale, City Attorney Randy York, City Clerk Baylee Rhea, Mayor Pro-tem Rob Harrison, Council member Scot Shanks, Council member Art Gernt, Jessie Brooks, Larry Kidwell, Butch Smith, and Nathan Clouse. Ben Regen and Mandy Perhay joined the meeting by Zoom. Public Comment There were no comments made. Agenda Items 1. Approval of an initial resolution approving the issuance of bonds An initial resolution and detailed bond resolution in respect of the Authority’s not to exceed $40,000,000 Public Facility Revenue Bonds, Series 2024 (the “Series 2024 Bonds”). A motion was made by Mark Moore, seconded by Lou Morrison, for the approval of a resolution approving the issuance of bonds. The motion carried by the following vote: Aye: 7- Morrison, Webb, Barnes, Moore, Hill, Patton and Hadley 2. Approval of a resolution for an Intergovernmental Agreement A resolution approving the Authority's execution of an Intergovernmental Agreement by and between the City of Crossville and the Sports Authority of the City of Crossville in respect of the City's pledge of certain of the City's revenues to the payment of the Series 2024 Bonds, and for certain other purposes. A motion was made by Lou Morrison, seconded by Mark Moore, approving a resolution for an Intergovernmental Agreement. The motion carried by the following vote: Aye: 7- Morrison, Webb, Barnes, Moore, Hill, Patton and Hadley City of Crossville Page 1 Sports Authority of the City of Minutes September 20, 2024 Crossville 3. Approval of a resolution for the execution of an operating and lease agrrement A resolution approving the Authority's execution of a Lease and Operating Agreement between and among the City, the Authority, and Putnam County Family Young Men’s Christian Association in respect of the family sports, recreation, and entertainment facility (the “Recreation Center”) to be constructed by the Authority using the proceeds of the Series 2024 Bonds. A motion was made by Lou Morrison, seconded by Rob Patton, approving a resolution for the execution of an operating and lease agreement. The motion carried by the following vote: Aye: 7- Morrison, Webb, Barnes, Moore, Hill, Patton and Hadley 4. Approval of a resolution to accept real property A resolution accepting the City’s transfer of approximately 8.5 acres, more or less, of real property located at the intersection of Livingston Road and North Main Street (U.S. Highway 127) from the City to the Authority for the Authority’s use in construction of the Recreation Center. A motion was made by Brock Hill, seconded by Rob Patton, approving of a resolution to accept real property. The motion carried by the following vote: Aye: 7- Morrison, Webb, Barnes, Moore, Hill, Patton and Hadley 5. Approval of a resolution to authorize a designee A resolution authorizing and designating certain City officials to execute the instruments and agreements approved by the resolutions above. A motion was made by Ethan Hadley, seconded by Mark Moore, approving a resolution to authorize a designee. The motion carried by the following vote: Aye: 7- Morrison, Webb, Barnes, Moore, Hill, Patton and Hadley 6. Discussion and action of other relative matters Rob Patton suggested signage by placed at the location of the Recreation Center to inform citizens of the location and create excitement. City Manager Valerie Hale informed the Sports Authority that a sign was in production and a joint press release would be made after final approvals have been made. Approval of the initial bond resolution and bond resolution are needed. Mr. Kidwell suggested clarifying the motion made at the beginning of the meeting. Since the initial bond resolution has been passed, a motion for the bond resolution will need to be clearly stated. A motion was made by Brock Hill, seconded by Mark Moore, to amend the agenda to include approval of a resolution for the issuance of bonds. The motion carried by the following vote: City of Crossville Page 2 Sports Authority of the City of Minutes September 20, 2024 Crossville Aye: 7- Morrison, Webb, Barnes, Moore, Hill, Patton and Hadley A motion was made by Rob Patton, seconded by Mark Moore, to approve of the bond detail resolution. The motion carried by the following vote: Aye: 7- Morrison, Webb, Barnes, Moore, Hill, Patton and Hadley A formal publication of the agenda was published and included the approval of the trust indenture. The agenda was amended to add it to the agenda at the meeting. A motion was made by Brock Hill, seconded by Mark Moore, to amend the agenda to include approval of the trust indenture. The motion carried by the following vote: Aye: 7- Morrison, Webb, Barnes, Moore, Hill, Patton and Hadley A resolution approving the Authority’s execution of a trust indenture in respect of the Series 2024 Bonds, by and between the Authority as the trustor and U.S. Bank Trust Company, National Association as the indenture trustee thereunder, and designating certain officials to execute such trust indenture on behalf of the Authority. A motion was made by Brock Hill, seconded by Mark Moore, to approve the trust indenture. The motion carried by the following vote: Aye: 7- Morrison, Webb, Barnes, Moore, Hill, Patton and Hadley Adjournment A motion was made by Brock Hill at 12:31 p.m., seconded by Rob Patton, to adjourn the meeting. The motion carried unanimously. _______________________________ Chair _______________________________ Secretary City of Crossville Page 3