Mayor Charlie Wyatt

2023 RDA Bond Issue - Timeline

CITY OF BOONVILLE REDEVELOPMENT AUTHORITY $15,000,000[1] LEASE RENTAL REVENUE BONDS, SERIES 2023 (“Bonds”) (IC 36-7-14 and 14.5 – lease rentals payable from ad valorem property tax)

Date    Action
Early/Mid October                
Proposed project budget prepared by O.W. Krohn & Associates (“Krohn”); Bose McKinney & Evans (“BME”) begins drafting amendment to declaratory resolution (“RDC Amendment Resolution”), amendment to economic development plan, and resolution approving financing lease and site lease (“RDC Lease Resolution”); project schedule prepared and leased real estate assets identified; Robert W. Baird & Co. Incorporated (“Baird”) begins diligence review - done

October 26                             
Notice of preliminary determination hearings and hearing financing lease published in The Standard; notice mailed to County Clerk - done

November 7   
Election day – done

November 8                           
RDC meets to hold first preliminary determination hearing and hearing on financing lease - done

November 9                           
RDC meets to (i) hold second preliminary determination hearing and hearing on financing lease; (ii) adopt RDC Amendment Resolution; and (iii) adopt RDC Lease Resolution - done

November 9                           
City of Boonville Redevelopment Authority (“RDA”) meets to adopt resolution approving financing lease and site lease - done

November 9                           
City of Boonville Plan Commission meets to adopt order approving RDC Amendment Resolution - done

November 9                           
Common Council meets to (i) adopt resolution approving RDC Amendment Resolution; and (ii) adopt resolution approving financing lease and site lease - done

November 9                           
Site lease and financing lease executed - done

November 16                         
Notice of preliminary determination and of execution of lease published (first time) in The Standard and posted in 3 public places in the City; notice mailed to County Clerk and any parties requesting such notice (beings 30-day period during which petition requesting application of the referendum process may be filed by the lesser of (i) 500 signatures of registered voters/taxpayers or (ii) signatures of 5% of registered voters residing in the City); Notice of hearing of RDC on Amendment Resolution published in The Standard

November 23                         
Notice of preliminary determination and of execution of lease published (second time) in The Standard

November 23                         
Holiday - Thanksgiving

December 5                            
RDC meets to (i) hold public hearing on RDC Amendment Resolution; (ii) adopts confirmatory resolution; and (iii) adopts resolution approving forms of bond financing documents and lease addendum

December 5                            
RDA meets to adopt resolution approving issuance of bonds, forms of financing documents and lease addendum

By December 6                      
Krohn completes accounting report; rating received; due diligence call with Baird; Preliminary Official Statement finalized and distributed

December 15                          
10-day objecting period on confirmatory resolution expires

December 16                          
30-day period to file a petition requesting referendum process expires

December 19                          
Bond sale; Bond Purchase Agreement executed by RDA, RDC and Baird

Week of December 19           
BME prepares and circulates bond closing documents

December 27                         
Preclosing

December 28                         
Closing; funds received and available for project costs

 

 

[1] Preliminary, subject to change