Clark County - File #: 21-1456

• File #: 21-1456
• Status: Agenda Ready
• File created: 9/23/2021
• In control: Clark County Board of Commissioners
• On agenda: 10/5/2021
• Title: Conduct a public hearing and approve, adopt and authorize the Chair to sign a resolution approving a Public Finance Authority (Wisconsin) tax exempt 501(c)(3) revenue bond issue in an amount not to exceed $50,000,000 in order to finance and/or refinance the acquisition, construction, improvement, renovation, equipping and furnishing of various educational and meeting facilities for use by Viticus Group. (For possible action)

Date	Action By	Action	Result
10/5/2021	Clark County Board of Commissioners	Approved; Agenda note: DISCUSSION: Following introduction of the item, Stephanie Gerling, Chief Financial Officer of Viticus Group, advised of facilities at Eastern Avenue and at East Oquendo Road; the company was non-profit and provided education to veterinary and medical professionals; and the resolution was to finance an existing loan.; Chair Kirkpatrick opened the public hearing and asked if there were any persons present wishing to be heard on the matter.; SPEAKER(S): None; There being no persons present wishing to be heard on the matter, Chair Kirkpatrick closed the public hearing.	Pass

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

Petitioner:

Jessica L. Colvin, Chief Financial Officer

Recommendation: 

title

Conduct a public hearing and approve, adopt and authorize the Chair to sign a resolution approving a Public Finance Authority (Wisconsin) tax exempt 501(c)(3) revenue bond issue in an amount not to exceed $50,000,000 in order to finance and/or refinance the acquisition, construction, improvement, renovation, equipping and furnishing of various educational and meeting facilities for use by Viticus Group.  (For possible action)

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FISCAL IMPACT:

Fund #:	N/A	Fund Name:	N/A
Fund Center:	N/A	Funded PGM/Grant:	N/A
Amount:	N/A
Description:	N/A
Additional Comments:	No fiscal impact.  The bonds are not a financial responsibility of the County.

BACKGROUND: 

Pursuant to Section 147(f) of the Internal Revenue Code, prior to their issuance, the bonds are required to be approved by the “applicable elected representative” of the governmental unit having jurisdiction over the area in which the project is located, after a public hearing is held following reasonable public notice. Consequently, approval of the Board is needed to meet the requirements of Section 147(f).