Sports Authority of Crossville approves issuance of bonds

In a special called session of the Sports Authority of Crossville, board members unanimously approved a resolution for the issuance of $40 million in bonds to fund a recreational center. In other action by the Sports Authority, resolutions agreeing to an intergovernmental agreement with the city of Crossville, execution of an operating and lease agreement with the YMCA and the acceptance of property for the proposed facility, were approved. When asked where the ‘line in the sand’ was, attorney Randy York stated that today (September 20^th) was roughly the point of no turning back, but definitely after any bonds are sold there would be no backing out. The Crossville City Council will meet in a special session on Tuesday, September 24^th at 10:15 a.m. in Crossville City Hall to address the city’s side of the bond issue as well as other documents pertaining to the recreation center.