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File #:
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26-0569
Version:
1
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Type:
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Departmental Items
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Status:
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Agenda Ready
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On agenda:
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3/2/2026
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Final action:
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Title:
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Consideration and action upon a resolution authorizing and approving the incurring of indebtedness by the Cleveland County Recreational and Entertainment Facilities Authority (herein the “Authority”) to be accomplished by the issuance of bonds, notes, or other evidences of indebtedness, on an interim or short term basis (the “BANs”), to be ultimately retired from the proceeds of a long-term bond issue expected to be issued within eighteen (18) months of the issuance of the BAN, said BAN to be issued in one or more series or issues, on a tax-exempt or taxable basis, either simultaneously or consecutively, in amounts deemed necessary by the Authority to further the development of the Arena Project, all issuances simultaneously or consecutively not to exceed the total aggregate principal par amount of Fifty Million Dollars ($50,000,000) for the financing of the acquisitions, design, construction, financing, furnishings, capital facilities and improvements, equipment, fixtures, site acquis...
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Title
Consideration and action upon a resolution authorizing and approving the incurring of indebtedness by the Cleveland County Recreational and Entertainment Facilities Authority (herein the “Authority”) to be accomplished by the issuance of bonds, notes, or other evidences of indebtedness, on an interim or short term basis (the “BANs”), to be ultimately retired from the proceeds of a long-term bond issue expected to be issued within eighteen (18) months of the issuance of the BAN, said BAN to be issued in one or more series or issues, on a tax-exempt or taxable basis, either simultaneously or consecutively, in amounts deemed necessary by the Authority to further the development of the Arena Project, all issuances simultaneously or consecutively not to exceed the total aggregate principal par amount of Fifty Million Dollars ($50,000,000) for the financing of the acquisitions, design, construction, financing, furnishings, capital facilities and improvements, equipment, fixtures, site acquisition, site preparation, street improvements, relocation of offices, and other facilities, and maintenance and operation expenses for the Cleveland County Arena Project located in Cleveland County; establish a reserve fund, if any, capitalize interest, if any, and pay costs of issuance; waiving competitive bidding in regard to the sale of said BANs; approving and authorizing the execution and delivery of documents in connection therewith, including, but not limited to, an indenture, a preliminary offering documents an final offering documents, continuing disclosure agreements, written compliance procedures, a federal tax certificate and a BAN purchase agreement; selection of professionals to effect said financing and the taking of other action with respect thereto.
Body
Approve
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