The Monroe County Department of Public Facilities resolved at a special called meeting Tuesday, Oct. 15, to issue up to $17 million in revenue bonds on behalf of Monroe County Schools to help fund future renovations to Dan Pitts Stadium. was approved unanimously.
Renovations include: a.) construction of a new field house (including visitor restroom renovations and necessary equipment and supplies), b.) improvements to the soccer field, including natural turf, and c.) construction of a new field house. improved lighting and landscaping; d.) construction of new grounds; e.) improvements to bleachers, concessions, and press boxes; f.) additions and improvements to parking.
Monroe County Schools is responsible for all payments on the bond. The maximum interest rate on the bonds is 5.5%, and the bonds mature by August 1, 2039.
The Monroe County Public Facilities Authority is a five-member governing body of the Monroe County Board of Commissioners.
After about 10 minutes of discussion, Public Facilities Authority member George Emami made a motion to approve the bond resolution, sponsored by Public Facilities Authority member LaMarcus Davis, and it was approved 5-0.
