Meeting Type: BCC Regular Meeting
Meeting Date: 5/20/2025
Item Status: Addendum
From: Roger H. Rendleman, County Administrator
Submitted by: Anu Gary, Administrative Services Manager
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ITEM TITLE
Title
Resolution #2025-137 Approving Bonds of The Industrial Development Authority of Baldwin County
End
STAFF RECOMMENDATION
Recommendation
Adopt Resolution #2025-137 approving bonds of The Industrial Development Authority of Baldwin County pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended.
End
BACKGROUND INFORMATION
Background: The Industrial Development Authority of Baldwin County, Alabama, proposes to undertake a plan of financing and to issue its revenue bonds in an amount not to exceed $1.25 billion. The Bonds will be issued in one or more series, at one or more times, as part of a plan of financing of all or a portion of the costs of acquiring, constructing, and equipping of certain solid waste disposal facilities at the Novelis facility in Bay Minette. The bonds will not in any way constitute a debt, liability, or obligation of the State of Alabama, Baldwin County, Alabama, or any other political subdivision of the State of Alabama. The Bonds will not be payable from any tax revenues.
Previous Commission action/date: N/A
FINANCIAL IMPACT
Total cost of recommendation: N/A
Budget line item(s) to be used: N/A
If this is not a budgeted expenditure, does the recommendation create a need for funding? N/A
LEGAL IMPACT
Is legal review necessary for this staff recommendation and related documents?
N/A
Reviewed/approved by: N/A
Additional comments: N/A
ADVERTISING REQUIREMENTS
Is advertising required for this recommendation? N/A
If the proof of publication affidavit is not attached, list the reason: N/A
FOLLOW UP IMPLEMENTATION
For time-sensitive follow up, select deadline date for follow up: N/A
Individual(s) responsible for follow up: Administration
Action required (list contact persons/addresses if documents are to be mailed or emailed): Email copy of executed resolution to Patrick Dungan, Adams & Reese, cc: Britton Bonner, Roger Rendleman, Lee Lawson
Patrick.Dungan@arlaw.com
Britton.Bonner@arlaw.com
Additional instructions/notes: N/A