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Second amendment to lease between BC Jail Building Corp. and Brown County

 

  NOTICE OF EXECUTION AND APPROVAL OF

SECOND AMENDMENT TO LEASE

BETWEEN

BROWN COUNTY JAIL BUILDING CORPORATION

AND BROWN COUNTY, INDIANA

The Board of Commissioners of Brown County, Indiana (the "County") has executed a Second Amendment to Lease Agreement (the "Amendment") with the Brown County Jail Building Corporation (the "Building Corporation"), dated as of October 21, 2013, which amends a Lease Agreement, dated August 4, 2003, as previously amended (the "Existing Lease"). The County and the Corporation entered into the Existing Lease in connection with the Building Corporation's issuance of its First Mortgage Bonds, Series 2003 (the "2003 Bonds"), the proceeds of which were used to finance the acquisition of real estate from the County and the construction of the County's jail facility, located at 55 State Road 46 East, Nashville, Indiana (the "Facility"). The County used the proceeds of the sale of such real estate received from the Corporation and other funds of the County to pay a portion of the  costs of the construction of the Facility and to pay the costs related to other subsequent construction, improvement, upgrade, and equipping projects at the Facility (collectively, the "County Improvements").  The Existing Lease leases the Facility for a term ending January 15, 2030, unless terminated earlier.

The Amendment amends the Existing Lease to provide lease rentals based on the principal of and interest on first mortgage multipurpose bonds (the "2013 Bonds") proposed to be issued by the Corporation to pay all or any portion of the costs of: (i) reimbursing the County for all or any portion of the costs of the County Improvements, with the understanding that such reimbursement proceeds will be used by the County to pay (or reimburse the prior payment of) the costs of the acquisition, construction, equipping, and installation of locks at the Facility, a new boiler at the Facility, and HVAC improvements at the Facility; (ii) refinancing all of the 2003 Bonds which are currently outstanding to effect  a savings to the Corporation; and (iii) paying the costs of issuance of the 2013 Bonds.  The lease rentals payable by the County under the Amendment will not exceed the lease rentals payable by the County under the Existing Lease.

Dated this 30th day of October, 2013.

BOARD OF COMMISSIONERS OF BROWN COUNTY, INDIANA

13-304 31677156 10/30/2013 hspaxlp

Obituaries
See Full List »

William Emmett Fisher, 73, Elizabethtown
  Father of William “Mark” (Marissa) Fisher of Nashville

Margaret (Stanley) Whitaker, 80, Morgantown
  Wife of Rawlins Whitaker of Morgantown

Ival 'Max' Skinner, 85, White Springs, Florida,
  Brown County native

  • August 29
    Watermelon fundraiser on Village Green
    1 to 4 p.m. Village Green, Main and Jefferson streets
  • August 30
    Golf scramble to benefit BCHS athletics set
    1 p.m. Salt Creek Golf Retreat, 2359 State Road 46 East
  • August 30
    Mission trip presentation at Fruitdale church
    2 p.m. Midway Church,
  • September 3
    WRAPS
    7 to 9 p.m. Library, 205 N. Locust Lane
  • September 3
    Future of rural places subject of talk
    5:30 p.m. Brown County Inn, 51 State Road 46 East
  • September 5
    BCHS class of 2005 reunion slated
    3 to 6 p.m., 8 p.m. Deer Run Park; Salt Creek Golf Retreat, 2359 State Road 46 East
  • September 6
    Read to dogs at the library
    2 to 3:30 p.m. Library, 205 N. Locust Lane
  • September 8
    Peaceful Valley Heritage meeting
    6:30 p.m. BCCF, 209 S. Van Buren St.
  • September 8
    Retired teachers
    noon Hotel Nashville, 245 N. Jefferson St.
  • September 9
    Nashville Town Council
    6 p.m. Town Hall, 200 Commercial St.
  • September 12
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road
  • September 18
    BucCornEar Festival fundraiser returns
    4 to 8 p.m. JTFD, 4831 Helmsburg Road, Helmsburg
  • September 18
    'A Miracle for You' services with evangelist Jerry Holland
    7:30 p.m. The Pentecostals
  • September 19
    BucCornEar Festival fundraiser returns
    8 a.m. to 8 p.m. JTFD, 4831 Helmsburg Road, Helmsburg
  • September 19
    'A Miracle for You' services with evangelist Jerry Holland
    6 p.m. The Pentecostals
  • September 20
    'A Miracle for You' services with evangelist Jerry Holland
    2 p.m. The Pentecostals
  • September 28
    American history DVD to play at library
    1 p.m. Library, 205 N. Locust Lane
  • October 4
    Read to a dog at the library
    2 to 3:30 p.m. Library, 205 N. Locust Lane