Authority shortens debt‑service timing, receives construction and workforce update on East Bank Stadium project

The Sports Authority of the Metropolitan Government of Nashville and Davidson County voted to approve an amendment to the Titan (East Bank) Stadium indentures that shortens the timing the trustee uses to move revenue into debt‑service accounts, a change staff said will allow the authority to capture more incoming receipts for debt payments.

Why it matters: The amendment affects cash‑management mechanics for the authority’s public facility revenue bonds for the East Bank Stadium project and reduces the interval between the trustee’s revenue transfer dates and bond payment dates from about 10 days to four days, staff said. Authority counsel said that change is intended to make more revenues available to meet debt service if receipts arrive late in the transfer window.

The board approved the resolution after bond counsel summarized the change and fielded no questions. Bria Smith‑Edwards of Bass, Berry & Sims, acting as bond counsel for Metro, described the trustee’s interpretation of the current indenture language and said the amendment would allow Regions Bank, as trustee,…