Meeting Type: BCC Regular Meeting
Meeting Date: 2/18/2020
Item Status: Replacement
From: Ron Cink, Budget Director
Submitted by: Anu Gary, Administrative Services Manager
______________________________________________________________________
ITEM TITLE
Title
*The Public Building Authority of Baldwin County - Resolution #2020-059 and Lease Agreement (Baldwin County Jail Project)
Body
STAFF RECOMMENDATION
Recommendation
Related to The Public Building Authority of Baldwin County and Building Revenue Warrants, Series 2020 (Jail Project), take the following actions:
1) Adopt Resolution #2020-059 which adopts and confirms the transfer of property and a Lease Agreement in connection with the issuance, sale and delivery by the Public Building Authority of Baldwin County of its $35,965,000 Building Revenue Warrants, Series 2020 (Jail Project), dated the date of delivery; and
2) Approve the execution of a Lease Agreement between The Public Building Authority of Baldwin County (PBA) and the Baldwin County Commission, regarding $35,965,000 Building Revenue Warrants, Series 2020 (Jail Project) which transfers the Jail site to the PBA; and
3) Authorize the Chairman to sign the Deed (transferring the jail site to the PBA), County Government Bond Financing Review Form, any necessary Quit Claim Deeds and any other documentation necessary to conduct the above transaction; and
4) Adopt Resolution #2020-065, for Baldwin County to accept the conveyance of the Water Tower Parcel from the City of Bay Minette and North Baldwin Utilities, authorize the acceptance of the conveyance of the Water Tower Parcel and record the same in the Office of the Judge of Probate of Baldwin County, Alabama, authorize the Commission Chairman to execute a deed conveying the Property to the Authority after accepting the conveyance of the Water Tower Parcel, authorize the execution of a lease with the Authority to pay the debt service on the Building Revenue Warrants, Series 2020, and authorize the execution and delivery of such documents or agreements to the Authority, the City of Bay Minette, and North Baldwin Utilities, as are necessary or requested to carry out the intent of this resolution.
End
BACKGROUND INFORMATION
Previous Commission action/date: See below.
Background: The Board of Directors of The Public Building Authority of Baldwin County met on February 3, 2020, for the purpose of approving all preliminary action and the execution of warrant purchase agreement with respect to the Authority’s proposed Building Revenue Warrants, Series 2020, the proceeds of which will be used to construct a new public jail facility in the County.
Previous action(s) by the Baldwin County Commission:
January 7, 2020, BCC Regular Meeting - The Commission took the following actions:
Motion by Commissioner Charles F. Gruber, seconded by Commissioner James E. Ball,
to take the following actions: 1) Adopt Resolution #2020-048, which selects and confirms the appointment of Frasier Lanier as the Bond Underwriter for General Obligation Warrants Funding (Jail Expansion) for the Baldwin County Commission.
2) Authorize staff to begin rate negotiations with the selected firm.
FINANCIAL IMPACT
Total cost of recommendation: Lease agreement just requires payment of the 35,965,000 debt.
Budget line item(s) to be used: Debt Service line item will be used for the payment of warrant debt.
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?
Yes, County Attorneys and Bond Counsel will review and approve all documents.
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: Ron Cink, Budget Director - Have all documents executed and provide to appropriate parties, cc: Administration on all correspondence and documentation.
Action required (list contact persons/addresses if documents are to be mailed or emailed): N/A
Additional instructions/notes: N/A