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East County Thursday, Sep. 5, 2019 2 months ago

University Park Recreation District bond validation hearing set

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With lawsuits dropped, district heads toward bond validation proceeding.
by: Pam Eubanks Senior Editor

Manatee County 12th Judicial Circuit Judge Edward Nicholas on Tuesday sped up the path by which the University Park Recreation District may purchase the 266-acre University Park Country Club and golf course and about 100 additional acres within the community.

The Recreation District is a special district run by elected University Park residents. It was created to purchase and operate those assets. 

Now that a lawsuit about its creation is being dropped, the Recreation District asked Nicholas to expedite a hearing to validate the bonds  — up to $24 million — needed to purchase the property. 

The bond validation hearing now is scheduled for 8:30 a.m. Sept. 16. It was scheduled for November.

“We are optimistic that the court will rule and approve the bond validation, which will set the stage for us to proceed with underwriting the municipal bonds and completing the purchase of UPCC and its assets in November,” Recreation District Supervisor Michael Smith said.

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