HomeMy WebLinkAboutCapital Improvements To The Golf Course
Augusta Richmond GA
DOCUMENT NAME: OO?\-TCL\ \mp\'~me'{\~ \0 -\t'e CjO\~ C()J..\S"e.
DOCUMENT TYPE:y'eCS()\u\\OD
YEAR: ~'2s
BOX NUMBER: C)\...\
FILE NUMBER: \~~~
NUMBER OF PAGES: 5
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RESOLlUTION OF THE AUGUSTA-RICHMOND COUNlY COMMISSION
DECLARING ITS OFFICIAL INTENT TO ENTER INTO A
PUBLIC PURPOSE LEASE WITH RICHMOND COUNlY
PUBLIC FACILmES, INC., AS LESSOR,
TO FINANCE A PORTION OF THE COSTS OF CERTAIN CAPITAL
IMPROVEMENTS TO THE AUGUSTA GOLF COURSE
AND TO OBTAIN REIMBURSEMENT FROM RICHMOND COUNlY
PUBLIC FACILmES, INC. FOR CERTAIN COSTS OF SUCH
IMPROVEMENTS INCURRED PRIOR TO COMPLETION
OF THE TRANSACTION
THIS RESOLUTION adopted by the Augusta-Richmond County Commission (the
"Commission").
WHEREAS, the Commission is planning for the acquisition, construction,
equipping and installation of certain capital improvements to the Augusta Golf Course, a
public golf course located in Augusta, Georgia (the "Project"); and
WHEREAS, it is going to be necessary for Augusta, Georgia to incur certain costs
for the Project including, but not limited to, the preparation of plans and specifications,
the performance of preliminary site work and other items related to the Project prior to
the completion of the planned leasing to finance the costs of the Project; and
WHEREAS, it is the intention of the Commission to have Richmond County
Public Facilities, Inc. reimburse Augusta, Georgia out of the proceeds of the sale of
certificates of participation in such lease when it is completed for those costs of the
Project paid by Augusta, Georgia prior to the completion of the planned leasing;
NOW, THEREFORE, BE IT RESOLVED by the Commission and it is hereby
resolved by the authority of same, that the Commission declares its official intent and
reasonably expects to reimburse Augusta, Georgia by Richmond County Public Facilities,
Inc. out of the proceeds of the sale of certificates of participation in the proposed lease
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for all portions of the cost of the Project paid by Augusta, Georgia prior to the
completion of the proposed leasing. The total cost of the Project is presently estimated
to be not in excess of $1,735,000 and the maximum principal amount of the costs which
the Commission presently estimates that Augusta, Georgia may have to pay prior to the
completion of the proposed leasing is $ 1 5 0 , 0 0 0 . 00
Adopted: March j ---L., 1998.
AUGUSTA-RICHMOND COUNTY
COMMISSIO
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CLERK'S CERTIFICATE
I, Lena J. Bonner , Oerk of the Augusta-Richmond County Commission
(the "Commission") DO HEREBY CERTIFY that the foregoing pages of typewritten
. matter constitute a true and correct copy of a resolution, passed by the Augusta-
Richmond County Commission at a regular meeting of the Commission duly held on
. ,MAR.CH:,'1' _, 1998 at 2 :00 ]L..m., open to the public and in which a quorum was
present and acting throughout, and that the original of said Resolution appears of record
in the Minute Book of the Commission, which is in my custody and control.
Given under my hand and seal of the Commission, this 1/ day of ';-Ma--rch ,
1998.
~~COUN1Y
COMMISSION
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