Title
Resolution - A Resolution Approving Resolutions Adopted by the Board of Directors of the Mansfield Park Facilities Development Corporation Authorizing the Issuance of Mansfield Park Facilities Development Corporations Sales Tax Revenue Refunding and Improvement Bonds, New Series 2016 and Mansfield Park Facilities Development Corporation New Sales Tax Revenue Refunding and Improvement Bonds, Taxable New Series 2016; Approving the Issuance of the Bonds and the Plans of Financing Authorized Thereby and the Financing Documents
Requested Action
Vote on the Resolution authorizing the City of Mansfield, Texas to approve a Resolution adopted by the Board of the Mansfield Parks Development Corporation to issue Sales Tax Revenue Refunding and Improvement Bonds, New Series 2016, and Sales Tax Revenue Refunding and Improvement Bonds, Taxable New Series 2016.
Recommendation
Approve the action of the MPFDC, which authorized the City of Mansfield, Texas Park Development Corporation to refund or refinance existing bonds with newly issued bonds and to issue new bonds for park and recreational improvements - pond branch linear trial expansion in downtown Mansfield and Mansfield Fieldhouse.
Description/History
Before the city Council’s action tonight the MPFDC will have taken action on the issuances of bonds.
New Money -
The city is building Mansfield Fieldhouse and extending the linear trial in downtown Mansfield.
Fieldhouse
Fieldhouse is will provide more volleyball and basketball courts for the city for public play while creating an economic development engine for the city. Fieldhouse is expected to generate over a million visitors a year to the Mansfield Fieldhouse. The city has developed a public private partnership with the owners of Fieldhouse, USA. They will pay for the operations and maintenance of the Mansfield Fieldhouse and the city will construct the facility. MPFDC is issuing $12,000,000 to construct Mansfield Fieldhouse.
Linear Trial
The ci...
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