HomeMy WebLinkAboutCity of Tamarac Resolution R-2018-025Temp Reso. # 13074 -March 14, 2018
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2018- �9,S
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
TAMARAC, FLORIDA ESTABLISHING ITS INTENT TO
REIMBURSE CERTAIN CAPITAL EXPENDITURES INCURRED
IN CONNECTION WITH THE ACQUISITION,
CONSTRUCTION, RECONSTRUCTION AND EQUIPPING OF
VARIOUS CAPITAL IMPROVEMENTS WITHIN THE CITY,
INCLUDING WITHOUT LIMITATION, A FIRE STATION, A
PARK, AND MULTIPLE SOUND WALLS, WITH PROCEEDS OF
A FUTURE TAX-EXEMPT FINANCING; PROVIDING CERTAIN
OTHER MATTERS IN CONNECTION THEREWITH; AND
PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC,
FLORIDA AS FOLLOWS:
SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted
pursuant to the provisions of Article VIII, Section 2 of the Constitution of the State of Florida,
Chapter 166, Part II, Florida Statutes, the municipal charter of the City of Tamarac, Florida (the
"City") and other applicable provisions of law (collectively, the "Act").
SECTION 2. FINDINGS. It is hereby ascertained, determined and declared that:
A. The City Commission of the City of Tamarac has determined that the need exists
to incur debt in order to finance the cost of various capital improvements within the City,
consisting of the acquisition, construction, reconstruction and equipping of a fire station, a park,
and multiple sound walls, all in accordance with plans on file at the offices of the City, as such
plans may be modified from time to time (collectively, the 'Project").
B. It is expected that the costs of the Project will be reimbursed by and financed
with the proceeds of tax-exempt debt to be issued by the City in the future.
SECTION 3. DECLARATION OF INTENT. The City hereby expresses its intention to
be reimbursed from proceeds of a future tax-exempt financing for certain capital expenditures
to be paid by the City in connection with the incurrence of debt for the purpose of financing all
or a portion of the Project. It is reasonably expected that the total amount of debt to be incurred
by the City with respect to the Project will not exceed $19,000,000. This Resolution is intended
to constitute a "declaration of official intent" within the meaning of Section 1.150-2 of the Income
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Tax Regulations which were promulgated pursuant to the Internal Revenue Code of 1986, as
amended, with respect to the debt incurred, in one or more financings, to finance the Project.
SECTION 4. SEVERABILITY. If any one or more of the covenants, agreements or
provisions of this Resolution should be held contrary to any express provision of law or
contrary to the policy of express law, though not expressly prohibited or against public policy,
or shall for any reason whatsoever be held invalid, then such covenants, agreements or
provisions shall be null and void and shall be deemed separate from the remaining covenants,
agreements or provisions of this Resolution.
SECTION 5. REPEALER. This Resolution supersedes all prior actions of the City
inconsistent herewith. All resolutions or portions thereof in conflict with the provisions of this
Resolution are hereby repealed to the extent of any such conflict.
SECTION 6. EFFECTIVE DATE. This resolution shall take effect immediately upon its
adoption.
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PASSED AND ADOPTED this day of Ud-2 2018.
(SEAL)
ATTEST:
By:
Name: Patricia A. Tell,
CMC
Title: City Clerk
I HEREBY CERTIFY that I have approved this
Resolution as to form.
By: "'V,4"a c F `;
Name: S uel S. Goren
Title: City Attorney 9'
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CITY OF TAMARAC, FLORIDA
By: q1 ,
Name: Harry Xessler
Title: Mayor
RECORD OF COMMISSION VOTE:
MAYOR DRESSLER
DIST 1: COMM. BOLTON -�—
DIST 2: V/M. GOMEZ
DIST 3: COMM. FISHMAN c.
DIST 4: COMM. PLACKO
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