Title
Approve Lease Agreement between the City of Foley and the PASFCD
Summary
Description of Topic: (who, what, where, when, why and how much)
The PASFCD delivered a Trust Indenture dated May 1, 2015 by the District and Region Bank and the District issued revenue bond on May 14, 2015 pursuant to the indenture of $13 million Athletic and Sport Facilities Revenue Bonds, Series 2015 to finance the within-referenced Project for the benefit of the District and the City. The City delivered a Funding Agreement dated May 1, 2015 to the District and the Trustee as a general obligation of the City for the payment of the principal of and interest on the Bonds. The Lease Agreement being considered today would: 1) provide insurance, maintenance, operation and repair of the project by the City for and on behalf of the District; and 2) the operation of those of the provisions of the Indenture respecting the interests of the District and the City.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
____ Not budgeted requiring increase to account #___________ in the amount of $____________.
Capital - Departmental
____ Budgeted under account #______________ for $___________ and described in budget as __________________________________.
Additional amount needed, if any: Increase in budget of $_____________ OR, transfer of $___________ from Account #____________ to Account #_______________
____ Not Budgeted - account #____________ requires budget increase of $_____________.
Capital Project - **THE PRE-PROJECT CHECKLIST AND BUDGET CHECKLIST MUST BE ATTACHED TO THIS FILE**
In current year Capital Projects Plan:
_____ Yes, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________...
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