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South Carolina's Riverfront
MINUTES OF DECEMBER 27, 2016
Lark W. Jones, Mayor
James M. Adams, Jr., Councilmember
J. Robert Brooks, Councilmember
Pat C. Carpenter, Councilmember
Fletcher L. Dickert, Councilmember
Kenneth J. McDowell, Councilmember
David W. McGhee, Councilmember
ORDER OF BUSINESS
The Special Called meeting of December 27, 2016, having been duly publicized, was called
to order by Mayor Jones at 7:10 p.m. in the Council Chambers on the third floor of the
Municipal Center and adjourned at 8:00 p.m.
Per Section 30-4-80(e) notice of the meetings by email was sent out to the current
maintained "Agenda Mailout" list consisting of news media outlets and individuals or
companies requesting notification. Notice of the meetings was also posted on the outside
doors of the Municipal Center, the main bulletin board of the Municipal Center located on
the first floor, and the City of North Augusta website.
Mayor Jones rendered the invocation and led in the Pledge of Allegiance.
Members present were Mayor Jones and Councilmembers, Adams, Brooks, Carpenter,
Dickert, McDowell, and McGhee.
Also in attendance were B. Todd Glover, City Administrator; Kelly F. Zier, City Attorney;
Cammie T. Hayes, Director of Finance; and Diana H. Miller, Manager of Human Resources;
and Donna B. Young, City Clerk.
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ITEM 1. ECONOMIC DEVELOPMENT: Designating Brasfield and Gorrie,
LLC as the Selected General
Contractor for Site Work as a Part
of Project Jackson - Resolution
On motion by Councilmember Dickert, second by Councilmember McGhee,
Council considered a resolution designating Brasfield and Gorrie, LLC as the
selected general contractor for site work as a part of Project Jackson.
Prior to the vote comments were made by the following individuals:
Barbara Sweeney, 79 Shoals Way Court, North Augusta, SC
Bob Pettit, 70 Fulton Street, North Augusta, SC
Cynthia Gordon, 131 Riverclub Lane, North Augusta, SC
On motion by Mayor Jones, second by Councilmember Carpenter, a motion to
substitute the North Augusta Green Jackets Ballpark Sitework GMP Contract
w/ Parcel J Schedule of Values — 12.21.16 with the updated North Augusta
Green Jackets Ballpark Sitework GMP Contract w/ Parcel J Schedule of
Values—12.27.16 was passed.
Voting for the amendment to the resolution were: Mayor Jones and
Councilmembers Brooks, Carpenter, Dickert, McDowell, and McGhee.
Voting against the resolution amendment was Councilmember Adams.
Vote was then taken on the resolution, as amended, and it passed with a 6/1
vote.
Voting for the resolution, as amended, were: Mayor Jones and
Councilmembers Brooks, Carpenter, Dickert, McDowell, and McGhee.
Voting against the resolution, as amended, was Councilmember Adams.
The resolution text is as follows:
RESOLUTION NO. 2016-37
A RESOLUTION DESIGNATING BRASFIELD AND GORRIE, LLC AS THE SELECTED
GENERAL CONTRACTOR FOR SITE WORK AS A PART OF PROJECT JACKSON
WHEREAS, the City has been working on Project Jackson for several years; and
WHEREAS, as part of the Project,the City will construct a multi-use stadium; and
WHEREAS, delays in the project to this point have caused cost escalations; and
WHEREAS, the construction timeframe for construction of the stadium is
approximately 14 months; and
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WHEREAS, the City believes that Project Jackson is at a point where site work must
commence on the project to ensure a completion date in time for the 2018 baseball season; and
WHEREAS, time is of the essence in proceeding with such construction, in order to
achieve the total development as envisioned by Project Jackson; and
WHEREAS, for the purpose of meeting its responsibility to provide the stadium, the
City issued a request for qualifications with respect to construction services related to the
construction of said stadium; and
WHEREAS, following a review of the submitted qualifications, the City has
determined that Brasfield and Gorrie, LLC is best qualified to provide the services on the time
schedule required; and
WHEREAS, the City would desire to authorize only the site work portion of the
contract at this time; and
WHEREAS, the Mayor and City Council have determined that it is in the best
interest of the City to move forward with such site work;
NOW THEREFORE, BE IT RESOLVED that the Mayor and City Council of the
City of North Augusta, South Carolina, in meeting duly assembled and by the authority thereof select
Brasfield and Gorrie, LLC as the general contractor for the stadium site work within Project Jackson
and authorize the City Administrator to execute a contract with same for site work only.
DONE, RATIFIED AND ADOPTED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF
NORTH AUGUSTA, SOUTH CAROLINA,ON THIS DAY OF DECEMBER, 2016.
NOTE: THIS WAS AMENDED TO SUBSTITUTE THE PARCEL J SCHEDULE
OF VALUES—12.21.16 WITH THE PARCEL JSCHEDULE OF VALUES—12.27.16.
ITEM 2. FINANCE: A SECOND AMENDED AND RESTATED
ORDINANCE AUTHORIZING THE CITY OF
NORTH AUGUSTA, SOUTH CAROLINA TO
ENTER INTO AN INSTALLMENT PURCHASE
TRANSACTION IN THE PRINCIPAL AMOUNT OF
NOT EXCEEDING SIXTEEN MILLION DOLLARS
($16,000,000) TO REFINANCE THE COSTS
RELATING TO THE CONSTRUCTION AND
EQUIPPING OF A PARKING GARAGE ON
CERTAIN REAL PROPERTY OWNED BY THE
CITY AND DESCRIBED HEREIN AND FINANCE
THE COSTS RELATING TO THE
CONSTRUCTION AND EQUIPPING OF CERTAIN
ROADS, WATER, SEWER AND RELATED
INFRASTRUCTURE LOCATED WITHIN A TAX
INCREMENT FINANCING DISTRICT OF THE
CITY; AUTHORIZING THE EXECUTION AND
DELIVERY OF VARIOUS DOCUMENTS
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INCLUDING THE BASE LEASE AGREEMENT
AND THE INSTALLMENT PURCHASE AND USE
AGREEMENT; DELEGATING THE AUTHORITY
TO THE MAYOR AND CITY ADMINISTRATOR
TO DETERMINE CERTAIN MATTERS; AND
OTHER MATTERS RELATING THERETO.
—Ordinance, First Reading
On motion by Councilmember McDowell, second by Councilmember
Brooks, Council unanimously passed an ordinance on first reading
authorizing the City of North Augusta, South Carolina to enter into an
installment purchase transaction in the principal amount of not exceeding
sixteen million dollars ($16,000,000) to refinance the costs relating to the
construction and equipping of a parking garage on certain real property
owned by the City and described herein and finance the costs relating to the
construction and equipping of certain roads, water, sewer and related
infrastructure located within a tax increment financing district of the City;
authorizing the execution and delivery of various documents including the
base lease agreement and the installment purchase and use agreement;
delegating the authority to the Mayor and City Administrator to determine
certain matters; and other matters relating thereto.
Prior to the vote comments were made by the following individual:
Barbara Sweeney, 79 Shoals Way Court, North Augusta, SC
The ordinance text is as follows:
ORDINANCE NO. 2016-27
A SECOND AMENDED AND RESTATED ORDINANCE AUTHORIZING THE
CITY OF NORTH AUGUSTA, SOUTH CAROLINA TO ENTER INTO AN
INSTALLMENT PURCHASE TRANSACTION IN THE PRINCIPAL AMOUNT OF
NOT EXCEEDING SIXTEEN MILLION DOLLARS ($16,000,000) TO REFINANCE
THE COSTS RELATING TO THE CONSTRUCTION AND EQUIPPING OF A
PARKING GARAGE ON CERTAIN REAL PROPERTY OWNED BY THE CITY
AND DESCRIBED HEREIN AND FINANCE THE COSTS RELATING TO THE
CONSTRUCTION AND EQUIPPING OF CERTAIN ROADS, WATER, SEWER
AND RELATED INFRASTRUCTURE LOCATED WITHIN A TAX INCREMENT
FINANCING DISTRICT OF THE CITY; AUTHORIZING THE EXECUTION AND
DELIVERY OF VARIOUS DOCUMENTS INCLUDING THE BASE LEASE
AGREEMENT AND THE INSTALLMENT PURCHASE AND USE AGREEMENT;
DELEGATING THE AUTHORITY TO THE MAYOR AND CITY
ADMINISTRATOR TO DETERMINE CERTAIN MATTERS; AND OTHER
MATTERS RELATING THERETO.
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BE IT ORDAINED, BY THE CITY COUNCIL OF THE CITY OF NORTH
AUGUSTA, AS FOLLOWS:
Section 1.Definitions.
The terms defined in this Section for all purposes of this second amended and restated
ordinance (this "Ordinance") shall have the respective meanings as set forth in this Section.
The term:
"Bank" means Bank of America, N.A., or any affiliate of Bank of America, N.A. or such
other financial institution as approved by the City Representative.
"Base Lease" means the Second Amended and Restated Base Lease Agreement by and
between the City and the Corporation to be dated as of the date of its delivery, together with
any amendments, modifications and restatements thereof or substitutions therefor, in each
case the form of which shall be negotiated, determined and finalized by a City
Representative.
`Bond" means, collectively, the Interim Bond and the Permanent Bond.
"Bond Agreement" means the Bond Agreement by and between the Corporation and
the Trustee (or the Bank, as more fully provided herein) to be dated as of the date of its
delivery, together with any amendments, modifications and restatements thereof or
substitutions therefor.
"City" means the City of North Augusta, South Carolina.
"City Administrator" shall mean the City Administrator of the City and any individual
appointed to act as City Administrator subsequent hereto.
"City Clerk" shall mean the City Clerk of the City of North Augusta.
"City Council" means the City Council of the City of North Augusta.
"City Representative" shall mean the Mayor, the City Administrator or any other City
official or representative selected to act on behalf of the City.
"Corporation" means the North Augusta Public Facilities Corporation, a South Carolina
nonprofit corporation.
"Financing" means, collectively, the First Prior Interim Financing, the Second Prior Interim
Financing, the Interim Financing and the Permanent Financing, all as more fully described
in Sections 2(c) and (d) hereof.
"Financing Documents" means collectively, the Base Lease, the Installment Purchase
Agreement, and the Bond Agreement.
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"First Prior Interim Bond" means the installment purchase revenue bond issued by the
Corporation in connection with the First Prior Interim Financing in the form of a
$10,000,000 Taxable Installment Purchase Revenue Bond (Parking Garage Project), Series
2015A dated January 21, 2015.
"First Prior Interim Financing" means the initial installment purchase transaction entered
into on January 21, 2015 through the issuance of the First Prior Interim Bond, in anticipation
of the Permanent Financing, all for the purpose of financing the Prior Project.
"First Prior Ordinance" means an ordinance enacted by the City Council on December 15,
2014, the provisions of which, in part, authorized the Prior Project, the First Prior Interim
Financing and the approval of the issuance of the First Prior Interim Bond by the
Corporation.
"Installment Payments"has the meaning assigned to such term in Section 2(e).
"Installment Purchase Agreement" means the Second Amended and Restated Installment
Purchase and Use Agreement by and between the Corporation and the City to be dated as of
the date of its delivery, together with any amendments, modifications and restatements
thereof or substitutions therefor, in each case the form of which shall be negotiated,
determined and finalized by a City Representative.
"Interim Bond" means the installment purchase revenue bond issued by the Corporation in
connection with the Interim Financing in the form of a not exceeding $16,000,000 Taxable
Installment Purchase Revenue Bond (Parking Garage and Infrastructure Project), Series
2017A.
"Interim Financing" means the installment purchase transaction to be entered into in
anticipation of the Permanent Financing, all for the purposes of refinancing or financing the
Project, and consisting of the issuance of the Interim Bond.
"Mayor" shall mean the Mayor of the City.
"Ordinance" means this Ordinance of the City.
"Permanent Bond" means the installment purchase revenue bond(s) issued in connection
with the Permanent Financing to refinance or refund the Interim Bond.
"Permanent Financing" means the installment purchase transaction to be entered into in
order to refund or refinance the Interim Financing, all for the purpose of financing the
Project, and consisting of the issuance of the Permanent Bond.
"Prior Project" means the construction and equipping of a parking garage facility.
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"Project" means (a) the Prior Project, and (b) the construction and equipping of roads,
water, sewer and related infrastructure of the City, such infrastructure to be located generally
and bound by the Savannah River to the south, Georgia Avenue to the east, the brick ponds
to the north and the Hammond's Ferry subdivision to the west, and those portions of Center
Street and Railroad Avenue adjacent to such parcels, as applicable.
"Real Property" means all those certain pieces, parcels or tracts of land as described on
Exhibit A hereto, including the existing improvements thereon as of the date hereof
"Second Prior Interim Bond" means the installment purchase revenue bond issued by the
Corporation in connection with the initial Interim Financing in the form of a $13,000,000
Taxable Installment Purchase Revenue Bond (Parking Garage and Infrastructure Project),
Series 2016A dated January 21, 2016.
"Second Prior Interim Financing" means the second installment purchase transaction
entered into on January 21, 2016 through the issuance of the Second Prior Interim Bond, in
anticipation of the Permanent Financing, all for the purpose of financing or refinancing the
Project.
"Second Prior Ordinance" means an amended and restated ordinance enacted by the City
Council on January 4, 2016, the provisions of which, in part, authorized the Project, the
Second Prior Interim Financing and the approval of the issuance of the Second Prior Interim
Bond by the Corporation.
"State" shall mean the State of South Carolina.
"Trustee" means a financial institution that shall act as trustee in connection with the
consummation of the Financing Documents, such institution to be selected by a City
Representative; provided that the Financing Documents may provide that so long as the
Bank is the sole owner of the Bond, the Bond Agreement will function as a loan agreement
between the Bank, for its own account and not as a bond trustee, and the Corporation and, if
the Bond Agreement provides for the role of a Trustee, then, except as otherwise provided
in the Bond Agreement, (a) the Bank shall succeed to all of the rights and obligations of the
Trustee thereunder and (b) all references therein to the Trustee shall be deemed to be
references to the Bank.
Section 2.Findings and Determinations.
The City Council hereby finds and determines:
(a)The City is a body politic and corporate of the State and as such possesses all
general powers granted to municipalities of the State.
(b)Under South Carolina law, the City is authorized to sell, lease or dispose of
personal and/or real or mixed property.
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(c)The City Council enacted the First Prior Ordinance to provide for the
authorization of the Prior Project, the entering into of the First Prior Interim Financing and
the approval of the issuance by the Corporation of the First Prior Interim Bond. The
provisions of the First Prior Ordinance allowed for the extension of the First Prior Interim
Financing subject to the approval of the Bank. The City Council enacted the Second Prior
Ordinance to provide for the authorization of the Project, the entering into of the Second
Prior Interim Financing and the approval of the issuance by the Corporation of the Second
Prior Interim Bond. The provisions of the Second Prior Ordinance allowed for the extension
of the Second Prior Interim Financing subject to the approval of the Bank. This Ordinance
is being enacted for the purposes of: (i) providing for the refinancing of the Second Prior
Interim Financing and providing funds to payoff the Second Prior Interim Bond; (ii)
expanding the original scope of the Project by increasing the par amount of the original
authorization contained within the Second Prior Ordinance by $3,000,000; (iii) authorizing
the entering into and execution of the Financing Documents; (iv) authorizing the
consummation of the Interim Financing and the approval of the issuance and delivery by the
Corporation of the Interim Bond; and (v) amending and restating the Second Prior
Ordinance.
(d)The Financing of the Project will be effected through an installment purchase
transaction pursuant to which the City will enter into the Base Lease and the Installment
Purchase Agreement; provided that it is understood that the installment purchase transaction
initially will be structured as the Interim Financing and that the maturity of such Interim
Financing will be approximately one year from the closing thereof, subject to a one year
extension as determined by the Bank in its sole discretion, and that the Permanent Financing
will occur on or before the maturity of the Interim Financing, all as more fully contemplated
in the Financing Documents.
(e)Pursuant to the provisions of the Base Lease, the City will lease the Real Property
to the Corporation in consideration of (i) the issuance by the Corporation of the Bond
pursuant to the provisions of the Bond Agreement, and (ii) the payment of Base Lease Rent
(as defined in the Base Lease) to the City. The Bond will be paid by the Corporation from
the receipts of certain payments (the "Installment Payments") made by the City to the
Corporation under the provisions of the Installment Purchase Agreement. Pursuant to the
provisions of the Installment Purchase Agreement, the City will agree to purchase from the
Corporation the Facilities (as defined in the Installment Purchase Agreement) by making the
Installment Payments. Notwithstanding the foregoing, the Financing Documents will
provide that the refunding or refinancing of the Interim Bond with the Permanent Bond will
be permitted and, when consummated, will not constitute one or more Installment Payments,
but rather, in such case, the Installment Payments will be provided for in the definitive
documents relating to the issuance of the Permanent Bond.
(f)The proceeds of the Bond will be used (i) to defray all or a portion of the costs of
the financing or refinancing of the Project (or, in the case of the Permanent Bond, to refund
the Interim Bond), and (ii) to pay the costs of issuance of the Bond.
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(g)It is understood that the Interim Bond evidencing the Interim Financing shall be
purchased initially by the Bank.
(h)The rights to receive Installment Payments, together with all rights, but not
obligations of the Corporation under the Base Lease and the Installment Purchase
Agreement, shall be assigned by the Corporation to the Trustee, or the Bank, as applicable,
under the Bond Agreement as security and a source of payment for the Bond. In addition,
the revenues generated by the Project shall be assigned by the Corporation and the City to
the Trustee, or the Bank, as applicable, under the Bond Agreement as security and a source
of payment for the Bond. It is also understood that the Interim Bond evidencing the Interim
Financing will be secured in part by a covenant of the Corporation to consummate the
Permanent Financing described herein through the issuance of the Permanent Bond on or
prior to the maturity of the Interim Bond and the proceeds of the Permanent Bond will be
used, among other purposes, to refund the Interim Bond.
(i)As previously discussed, in order to finance or refinance all or a portion of the
costs of the Project, the City Council has determined that it is necessary and in the best
interest of the City to enter into the Financing authorized by this Ordinance with the
Corporation. The Financing will serve a proper public and corporate purpose of the City.
(j)It is understood that the Permanent Financing shall be subject to approval of a
separate ordinance of the City to be enacted by City Council prior to the consummation of
such Permanent Financing.
Section 3.Authorization for the Project; Pledge of Revenues.
The Project is hereby approved. The City Representative or such other appropriate officers
and agents of the City are empowered and directed to negotiate, execute and deliver
contracts, agreements, certificates and conveyances necessary or convenient to accomplish
the Project and pledge the revenues therefrom as security for payment of the Bond,
including, without limitation, the Financing Documents. In connection with the
consummation of the Interim Financing, the City is authorized to pay or is authorized to
cause the Corporation to pay to the Bank all accrued interest and any unused fees with
respect to the Second Prior Interim Bond, such payment of accrued interest and any unused
fees to be paid to the Bank at or prior to the closing of the Interim Financing.
Section 4.Approval of Corporation and Issuance of Bond.
The City hereby ratifies the formation of the Corporation, the appointment of the
Corporation's initial Board of Directors and the issuance by the Corporation of the Bond.
The City also acknowledges that, in accordance with the provisions of the Installment
Purchase Agreement, the City will acquire absolute title to the Facilities upon payment of all
amounts due under the Installment Purchase Agreement; provided, however, that the City
does not hereby waive its right to terminate the Installment Purchase Agreement prior to
such payment in accordance with the provisions of the Installment Purchase Agreement.
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Section 5. Delegation of City Representative to Approve Base Lease, Installment
Purchase Agreement, and Bond Agreement.
The City Council hereby approves the City Representative to negotiate, make such
determinations as may be necessary, and finalize the Base Lease. The Mayor or the City
Administrator is hereby authorized, empowered and directed to execute, acknowledge and
deliver, and the City Clerk is hereby authorized, empowered and directed to attest, the Base
Lease in the name and on behalf of the City, and thereupon to cause the Base Lease to be
delivered to the Corporation and to cause the Base Lease (or memorandum thereof) to be
recorded in the office of the Register of Deeds for Aiken County, South Carolina. Any
amendment to the Base Lease shall be executed in the same manner.
The City Council hereby approves the City Representative to negotiate, make such
determinations as may be necessary, and finalize the Installment Purchase Agreement. The
Mayor or the City Administrator is hereby authorized, empowered and directed to execute,
acknowledge and deliver, and the City Clerk is hereby authorized, empowered and directed
to attest, the Installment Purchase Agreement in the name and on behalf of the City, and
thereupon to cause the Installment Purchase Agreement to be delivered to the Corporation
and to cause the Installment Purchase Agreement (or memorandum thereof) to be recorded
in the office of the Register of Deeds for Aiken County, South Carolina. Any amendment to
the Installment Purchase Agreement shall be executed in the same manner.
The City is not a party to the Bond Agreement, but the City acknowledges that the Bond
Agreement is an integral part of the documents related to the Financing. A City
Representative is hereby authorized to provide for the review and approval of the form of
the Bond Agreement with such additions, deletions, amendments and changes as may be
deemed necessary by the parties thereto and approved by the City Representative prior to the
consummation of the Financing.
Section 6.Execution of Documents.
The Mayor and the City Administrator, or either one of them acting alone, and the City
Clerk are fully empowered and authorized to take such further actions and to execute and
deliver such additional documents as may be deemed necessary or desirable in order to
effectuate the execution and delivery of the Base Lease and the Installment Purchase
Agreement in accordance with the terms and conditions therein set forth, and the
transactions contemplated hereby and thereby, and the action of such officers in executing
and delivering any of such documents, in such form as the Mayor and the City
Administrator shall approve, is hereby fully authorized. The City Council hereby retains the
law firm of Pope Flynn, LLC as bond counsel with respect to the transactions authorized by
this Ordinance.
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Section 7.Severability.
If any section, phrase, sentence, or portion of this Ordinance is for any reason held invalid or
unconstitutional by any court of competent jurisdiction, such portion shall be deemed a
separate, distinct, and independent provision, and such holding shall not affect the validity
of the remaining portions thereof.
Section 8. Amendment and Restatement; Repeal of Inconsistent Ordinances and
Resolutions.
This Ordinance amends and restates the Second Prior Ordinance. All ordinances and
resolutions of the City, and any part of any ordinance or resolution, inconsistent with this
Ordinance are hereby repealed to the extent of such inconsistency.
Section 9.Effective Date.
This Ordinance shall be effective upon its enactment by the City Council.
II
DONE, RATIFIED AND ENACTED BY THE MAYOR AND CITY COUNCIL
OF THE CITY OF NORTH AUGUSTA, SOUTH CAROLINA IN MEETING DULY
ASSEMBLED ON THIS 9TH DAY OF JANUARY, 2017.
(SEAL)
Lark W. Jones, Mayor
ATTEST:
Donna B. Young, City Clerk
First Reading:December 27, 2016
Second Reading:December 27, 2016
Public Hearing:January 9, 2017
Third Reading:January 9, 2017
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EXHIBIT A
Description of the Real Property
ALL THAT LOT,TRACT OR PARCEL OF LAND, WITH ANY IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF NORTH AUGUSTA, AIKEN COUNTY, SOUTH CAROLINA,
HAVING THE FOLLOWING METES AND BOUNDS, TO WIT:
COMMENCING AT THE SOUTHEAST INTERSECTION OF BLUFF AVENUE AND WEST AVENUE
AT A PK NAIL FOUND BEING THE POINT OF COMMENCEMENT;THENCE SOUTH 19 DEGREES 27
MINUTES 31 SECONDS WEST(s19°27'31"W),A DISTANCE OF 185.93 FEET TO A#4 REBAR SET
BEING THE POINT OF BEGINNING: THENCE SOUTH 70 DEGREES 18 MINUTES 41 SECONDS
EAST(S70°18'41"E), A DISTANCE OF 324.42 FEET TO A#4 REBAR SET; THENCE SOUTH 17
DEGREES 04 MINUTES 52 SECONDS WEST(S17°04'52"W), A DISTANCE OF 194.71 FEET TO A#4
REBAR FOUND; THENCE NORTH 72 DEGREES 55 MINUTES 08 SECONDS WEST(N72°55'08"W),A
DISTANCE OF 18.43 FEET TO A#4 REBAR FOUND; THENCE ALONG A CURVE HAVING A
RADIUS OF 118.00 FEET AND AN ARC LENGTH OF 78.37 FEET, WITH A CHORD BEARING OF
SOUTH 88 DEGREES 03 MINUTES 18 SECONDS WEST(S88°03'18"W)AND A CHORD DISTANCE OF
76.94 FEET TO#4 REBAR SET;THENCE NORTH 67 DEGREES 48 MINUTES 09 SECONDS WEST
(N67°48'09"W), A DISTANCE OF 42.59 FEET TO A#4 REBAR FOUND; THENCE NORTH 19
DEGREES 25 MINUTES 18 SECONDS EAST(N19°25'18"E), A DISTANCE OF 24.57 FEET TO A#4
REBAR SET; THENCE NORTH 70 DEGREES 19 MINUTES 10 SECONDS WEST(N70°19'10"W), A
DISTANCE OF 199.89 FEET TO A #4 REBAR SET; THENCE NORTH 19 DEGREES 27 MINUTES 31
SECONDS EAST(NI 9°27'31"E),A DISTANCE OF 28.39 FEET TO A #4 REBAR SET; THENCE SOUTH
70 DEGREES 12 MINUTES 34 SECONDS EAST(S70°12'34"E), A DISTANCE OF 5.00 FEET TO A #4
REBAR SET; THENCE NORTH 19 DEGREES 27 MINUTES 31 SECONDS EAST (N19°27'31"E), A
DISTANCE OF 77.21 FEET TO A#4 REBAR SET; THENCE NORTH 70 DEGREES 12 MINUTES 34
SECONDS WEST(N70°12'34"W),A DISTANCE OF 5.00 FEET TO A#4 REBAR SET; THENCE NORTH
19 DEGREES 27 MINUTES 31 SECONDS EAST(N19°27'31"E),A DISTANCE OF 91.71 FEET TO A#4
REBAR SET BEING THE POINT OF BEGINNING CONTAINING 1.51 ACRES.
ITEM 3. FINANCE: A SECOND AMENDED AND RESTATED ORDINANCE
AUTHORIZING THE CITY OF NORTH AUGUSTA,
SOUTH CAROLINA TO ENTER INTO AN
INSTALLMENT PURCHASE TRANSACTION IN THE
PRINCIPAL AMOUNT OF NOT EXCEEDING SIXTEEN
MILLION DOLLARS ($16,000,000) TO REFINANCE
THE COSTS RELATING TO THE CONSTRUCTION
AND EQUIPPING OF A PARKING GARAGE ON
CERTAIN REAL PROPERTY OWNED BY THE CITY
AND DESCRIBED HEREIN AND FINANCE THE
COSTS RELATING TO THE CONSTRUCTION AND
EQUIPPING OF CERTAIN ROADS, WATER, SEWER
AND RELATED INFRASTRUCTURE LOCATED
WITHIN A TAX INCREMENT FINANCING DISTRICT
OF THE CITY; AUTHORIZING THE EXECUTION
AND DELIVERY OF VARIOUS DOCUMENTS
INCLUDING THE BASE LEASE AGREEMENT AND
THE INSTALLMENT PURCHASE AND USE
AGREEMENT; DELEGATING THE AUTHORITY TO
THE MAYOR AND CITY ADMINISTRATOR TO
DETERMINE CERTAIN MATTERS; AND OTHER
MATTERS RELATING THERETO.
— Ordinance, Second Reading
On motion by Mayor Jones, second by Councilmember Dickert, Council
unanimously passed an ordinance on second reading authorizing the City of North
Augusta, South Carolina to enter into an installment purchase transaction in the
principal amount of not exceeding sixteen million dollars ($16,000,000) to
refinance the costs relating to the construction and equipping of a parking garage
on certain real property owned by the City and described herein and finance the
costs relating to the construction and equipping of certain roads, water, sewer and
related infrastructure located within a tax increment financing district of the City;
authorizing the execution and delivery of various documents including the base
lease agreement and the installment purchase and use agreement; delegating the
authority to the Mayor and City Administrator to determine certain matters; and
other matters relating thereto.
Please see Item no. 2 above for the ordinance text.
The meeting adjourned at 8:00 p.m.
APPROVED THIS '0 DAY OF Respectfully submitted,
Fclv� , 2017.
Donna B. Young
Mayor Lark W. nes City Clerk