City Council set to okay lease for marina

1.) What are the terms of this lease agreement?
2.) How long will mr. Batts be required to actually operate the marina?
3.) What is the projected timeframe needed for the city to recoup the $32 million dollars of leveraged debt underwritten to pay for the creation of the marina and the redevelopment of Fairgrounds Park? 4.) Why aren’t these details listed in the published version of the council meeting’s agenda?
5. Where is the public referendum required by the city charter when the city enters into an enterprise where the city’s credit has been utilized? This resolution may be about a lease agreement, but the city is extending its debt, utilizing the city’s credit, to fund this project. Thus, according to our charter, a public referendum, with approval of three-fourths of those voting, is required before this lease can be approved. There was no referendum on the November ballot. Too many questions have not been answered here.

Transparency is the key to public confidence and trust. It’s very opaque right now. Council needs to apply a heavy dose of Windex to this proceeding and be the people’s advocate and guardian.

See Blaine’s #5 for yourself.

Section 8. Elections for giving or lending of city’s credit.

The credit of the city may be given or lent to or in aid of any person, company, association or corporation upon an election to be first held by the qualified voters of such city and the assent of three-fourths ( 3/4) of the votes cast at said election. The city may become a stockholder with others in any company, association or corporation, upon a like election and the assent of a like majority.

Any such election shall be held as follows:

The city council shall adopt a resolution (herein called the city election resolution) which shall briefly and concisely state in substance: (a) the amount or maximum amount of credit of the city or funds of the city to be given, lent, or used, and the purposes therefor; (b) the date on which such election will be held; (c) the place where such voting places will be open. The election resolution shall be published in full at least once not less than fifteen (15) days prior to the date fixed for such election in the official city newspaper.

There shall be printed on the ballot, a brief general statement of the proposal or question to be voted upon the suitable phrasing to permit the voter to clearly indicate his or her wish to vote `for’ or `against’ such proposition.

Without limitation, the election resolution or the proposition to be voted upon may give the city council authority to give or lend the city’s credit or use its funds not exceeding a specified amount, or to authorize the city council to issue and sell the city’s general obligation bonds not exceeding a specific amount, for the purpose or purposes indicated in the resolution or proposal.

On the ballots opposite each of the phrases, `for’ the proposal and `against’ the proposal there shall be a hollow square, each side of which shall be not less than one-quarter ( 1/4) of an inch nor more than one inch. The voter shall indicate his vote `for’ or `against’ the proposal by inserting a mark in the square opposite such phrase.

The election shall be held in the same manner as municipal elections are now held in the City of Clarksville, Tennessee, and shall be subject to and in compliance with the Charter of said city and amendments thereto and the general election laws of the state. It shall be conducted by the election authorities of the state and in accordance with the election laws of the state.

At the next regular meeting of the city council succeeding the date of such election or at a special meeting called therefor, the city council shall canvass the returns and determine and declare the results and returns in the election, which entry, after the use of the city’s credit or of its funds as voted upon at such election shall be conclusive evidence of the results of the election.

If the proposition voted upon is defeated, it shall not be against the subject of an election for three (3) months thereafter.

If the election results in favor of the proposition as above provided, the election resolution shall again be published in the official city newspaper, and with it there shall be published a statement substantially as follows:

Statement

The election referred to in the resolution published herewith was held on the (here insert the date of election). After such election, the city council of the City of Clarksville has found, determined and declared that the proposition was carried by a vote of _________ to _________.

No suit, action, or proceeding questioning such election or the use of the city’s credit, or the validity of bonds issued pursuant to such election or proceedings for the issuance of such bonds, or the use of funds, as described or authorized in such resolution or proceeding can be commenced after the expiration of twenty (20) days from the date of this publication. By order of the city council of the City of Clarksville.

/s/ __________

Commissioner of Finance
and Revenue

No suit, action or proceeding questioning such election or the use of the city’s credit or the validity of bonds issued or to be issued or proceedings for the issuance of such bonds pursuant to such election or the use of the city’s funds as voted for in such election shall be commenced after the expiration of twenty (20) days from the date of such publication of such election resolution, and such statement substantially as above set forth.