City Manager Jim Atkinson said this evening that if all goes well Tuesday (12.19.17) at the Lakeland lawsuit hearing, the high school bonds could be priced next week and could close before the end of 2017.
“According to the underwriter, there is still a possibility that the deal can close this year if the bonds are priced next week,” said Mr. Atkinson
Link to the story about Lakeland’s day in court today: https://lakelandcurrents.com/lakeland-legal-team-due-back-in-court-next-week/
Mr. Atkinson said this would also ensure the bonds are purchased before the new tax bill takes effect Jan. 1, 2018.
Chancellor Walter Evans set a hearing for 10 a.m. Tuesday (12.19.17) to hear arguments on a motion by Lakeland attorneys to dismiss a lawsuit filed by a Lakeland couple to block a bond issue for a high school wing to the existing middle school.
The lawsuit, filed Friday (12.8.17) by Cary and Lillian Melton, seeks to block the lease revenue bonds approved by the Lakeland Board of Commissioners (BOC) and its Industrial Development Board (IDB) and force a referendum on any bond issue. The suit also alleged violation(s) of the Tennessee Open Meetings Act.
