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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

  • January 27
    Widowed group euchre party
    1 p.m. Sycamore Valley Community Center, 746 Memorial Drive
  • January 27
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • January 27
    Open 12-step meetings in New Bellsville area
    6 to 7 p.m. Harmony Baptist Church, 3999 Mt. Liberty Road, New Bellesville
  • January 27
    BC Election Board
    2 p.m. County Office Building, 201 N. Locust Lane
  • January 27
    BC Area Plan Commission
    6 p.m. County Office Building, 201 N. Locust Lane
  • January 28
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • January 28
    BC Sheriff's Merit Board
    4 p.m. Law Enforcement Center, 55 State Road 46 East
  • January 28
    BC Board of Zoning Appeals
    6 p.m. County Office Building, 201 N. Locust Lane
  • January 29
    Go Club at the library Thursdays
    3:30 to 5 p.m. Brown County Public Library, 205 N. Locust Lane
  • January 30
    Bingo
    6 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • January 31
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • January 31
    Dave Miller at Abe Martin Lodge
    5:30 to 7:30 p.m. Abe Martin Lodge, Brown County State Park
  • February 2
    Gnaw Bone Sewage District
    5:30 p.m. Library, 205 N. Locust Lane
  • February 3
    Euchre
    6 p.m. Sycamore Valley Center, 746 Memorial Drive (fairgrounds)
  • February 3
    Bean Blossom Regional Sewer Board
    7:30 p.m. County Office Building, 201 N. Locust Lane
  • February 4
    Lake Lemon Conservancy District annual meeting
    6 p.m. Benton Township Senior Center, 7616 E. State Road 45, Unionville
  • February 4
    Jeff Foster at Hobnob restaurant
    6 to 8 p.m. Hobnob, 17 W. Main St.
  • February 4
    Van Buren Township Advisory Board
    7 p.m. Van Buren trustee's office, 4748 Christianburg Road
  • February 5
    Jackson Township Board
    6 p.m. Jackson Fire Station, 4831 Helmsburg Road
  • February 6
    Bingo
    5 p.m. Fruitdale Fire Station, 5200 State Road 135 North, Bean Blossom
  • February 9
    Washington Township Trustees
    7 p.m. Parkview Church of the Nazarene, 1750 State Road 46 East
  • February 12
    BC Convention & Visitors Commission
    8:30 a.m. County Office Building, 201 N. Locust Lane
  • February 13
    Bingo
    5 p.m. Fruitdale Fire Station, 5200 State Road 135 North.
  • February 14
    Free community breakfast at Sprunica church
    8 to 10 a.m. Sprunica Baptist Church, 3902 Sprunica Road
  • February 17
    Hamblen Trustee Board annual review
    6:30 p.m. 2314 Hickory Ridge Lane off Hornettown Road