Title
Resolution - Resolution Approving a Resolution Adopted by the Board of Directors of the Mansfield Park Facilities Development Corporation Authorizing the Issuance of Mansfield Park Facilities Development Corporation Sales Tax Revenue Bonds, New Series 2018; and Mansfield Park Facilities Development Corporation New Sales Tax Revenue Bonds, Taxable New Series 2018; Approving the Issuance of the Bonds and the Plans of Financing Authorized Thereby and the Financing Documents
Requested Action
Approval a Resolution approving a Resolution adopted by the Mansfield Park Facilities Development Corporation authorizing the issuance of Mansfield Park Facilities Development Corporation Sales Tax Revenue Bonds, New Series 2018; and Mansfield Park Facilities Development Corporation New Sales Tax Revenue Bonds, Taxable New Series 2018.
Recommendation
Approve the action of the MPFDC, which authorizes the City of Mansfield’s Park Facilities Development Corporation to sale bonds for the purpose of constructing park and recreational improvements or specifically a park administration building and the completion of a recreational ice skating rink.
Description/History
The MPFDC is borrowing money to pay for a park administrative office to be located on Matlock road near Oliver Nature Park and is borrowing money to pay for the ice making equipment along with an expanded footprint of the recreational ice skating facility within the Shops and Broad development. The MPFDC is issuing $6,175,000.
Justification
The recreational ice skating rink owned by the city which is located near the city’s Fieldhouse property improves the offering of recreational venues within the city; both recreational venues create a unique pedestrian experience for the Shops at Broad. The City’s MPFDC administrative staff is in need of space to house the park administrative staff.
Funding Source
City of Mansfield’s Park Development Corporation
Prepared By
Peter Phillis, Deputy City Manager, 817-276-4261