Title
Resolution - A Resolution Authorizing the Issuance and Sale of Mansfield Economic Development Corporation Sales Tax Revenue Bonds, Taxable New Series 2025; Prescribing the Form of Said Bonds; Providing for The Security for and Payment of Said Bonds; Approving Execution and Delivery of a Bond Purchase Agreement, Paying Agent/Registrar Agreement and Bond Counsel Engagement Letter; Approving the Official Statement; and Enacting Other Provisions Relating to the Subject
Requested Action
To consider the resolution
Recommendation
To approve the resolution
Description/History
This is the companion item to the other resolution, but for taxable series of bonds. The reason we need this is because with the operator utilizing the stadium with potential revenue payments being made to the city, it requires a proportionate share being taxable debt.
Justification
This is required for the bond sale of taxable debt.
Funding Source
Type A Sales Tax
Prepared By
Jason Moore, Executive Director of Economic Development