Sports Authority of the City of Crossville

City of Crossville 392 North Main Street Crossville, TN 38555 Minutes Tuesday, October 1, 2024 12:00 PM Conference Room 317 Sports Authority of the City of Crossville Sports Authority of the City of Minutes October 1, 2024 Crossville REGULAR MEETING Call to Order The Sports Authority of the City of Crossville met for its monthly meeting on Tuesday, October 1, 2024 at Crossville City Hall. Chair Tracey Barnes was present and presiding. She called the meeting to order at 12:01 p.m. Roll Call Present 4 - Lou Morrison, Tracey Barnes, Rob Patton, and Ethan Hadley Absent 3 - Sheryl Webb, Mark Moore, and Brock Hill Others present were Mayor R.J. Crawford, Mayor Pro-tem Harrison, Council member Scot Shanks, Council member Art Gernt, City Manager Valerie Hale, City Clerk Baylee Rhea, Attorney Randy York, Nathan Clouse, Larry Kidwell, Jessie Brooks, Jessica Ceballos, and Shea James. Mandy Perhay joined via Zoom. Public Comment No comments were made. Agenda Items 1. Approval of the minutes (9/3, 9/20) A motion was made by Lou Morrison, seconded by Ethan Hadley, to approve the minutes from 9/3 and 9/20. The motion carried by the following vote: Aye: 4- Morrison, Barnes, Patton and Hadley Absent: 3- Webb, Moore and Hill 2. Approval to ratify resolutions passed at the Special Called meeting Mr. York explained this resolution was to ratify everything executed in the specially called meeting at the regularly held meeting. A motion was made by Lou Morrison, seconded by Ethan Hadley, to ratify resolutions passed at the Special Called meeting on 9/20. The motion carried by the following vote: Aye: 4- Morrison, Barnes, Patton and Hadley Absent: 3- Webb, Moore and Hill City of Crossville Page 1 Sports Authority of the City of Minutes October 1, 2024 Crossville 3. Approval of repayment of bond proceeds to the City of Crossville Approval is needed for the repayment of bond proceeds to the City of Crossville. A motion was made by Tracey Barnes, seconded by Lou Morrison, that the Authority pay from the bond proceeds the fees of S&P Global Ratings for any bond rating letter issued in connection with this bond deal, and if the City has already paid those fees before bond closing, then I move that the Authority reimburse the City from the bond proceeds the full amount of what the City has paid. The motion carried by the following vote: Aye: 4- Morrison, Barnes, Patton and Hadley Absent: 3- Webb, Moore and Hill 4. Updates on financial and legal matters Mr. Randy York stated he and Mandy Perhay had finished the fundraising campaign agreement as early as that morning. It's a 5 year campaign period in the amount of $10,000,000. This campaign is aspirational. This funds cannot be used for bond obligations, but to enhance this project. The first $2,000,000 will go towards the YMCA to help equip the facility and for their startup costs. Any money collected after that will be used to upgrade the facility in the future. 5. Approval of the YMCA Fundraising Agreement The YMCA has proposed a Fundraising Agreement. The agreement must be approved to proceed with the campaign. A motion was made by Lou Morrison, seconded by Rob Patton, to approve the YMCA Fundraising Agreement. The motion carried by the following vote: Aye: 4- Morrison, Barnes, Patton and Hadley Absent: 3- Webb, Moore and Hill Sheryl Webb entered the meeting. 6. Other Business Mr. Larry Kidwell gave out a handout and went over current interest rates in the market. A brief discussion was had regarding having the ground breaking after the bonds have been issued. Adjournment A motion was made by Ethan Hadley at 12:15 p.m., seconded by Rob Patton, to adjourn the meeting. The motion carried unanimously. City of Crossville Page 2 Sports Authority of the City of Minutes October 1, 2024 Crossville _______________________________ Chair _______________________________ Secretary City of Crossville Page 3