Loading...
HomeMy WebLinkAboutCity of Tamarac Resolution R-80-198,Introduced by: VN TEMP. RESOA1742 Rev. 8/21/80 1 2 3 4 5 -6 7 8 9 10 11 12 13 14 15 16 17 -18 19 20 21 22 23 24 25 26 27 28 29 ,0 32 33 34 35 36 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R- $O /%r A RESOLUTION AMENDING RESOLUTION NO.79-251, PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF TAMARAC, FLORIDA ON OCTOBER 13, 1979, WHICH RESOLUTION AUTHORIZED THE ISSU- ANCE OF NOT EXCEEDING $15,000,000 WATER AND SEWER UTILITY REVENUE BONDS OF THE CITY•OF TAMARAC, FLORIDA; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council -(the "Council") of the City of Tamarac, Florida (the "City") on October 13, 1979 passed and adopted Resolution No. 79-251 (the "Bond Resolution") authorizing the issuance of not exceeding $15,000,000 Water and Sewer Utility Revenue Bonds of the City for the purpose of paying the cost of acquiring the water treatment and distribution system and the wastewater collection and disposal system owned by Tamarac Utilities, Inc.; and WHEREAS, it is now necessary to amend the Bond Resolution in certain particulars. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: Section 101 of the Bond Resolution is hereby amended by adding after the comma in the last line of the definition of "Current Expenses" the following: "the In Lieu of Tax Fund". SECTION 2: Section 101 of the Bond Resolution is hereby amended by changing the word "three" in clause (iv) of the definition of "Investment Obligations" (line 5, page I-5) to "two". SECTION 3: Section 505(g) of the Bond Resolution is hereby amended to read as follows: "(g) to the credit of the General Reserve Fund, the balance, if any, remaining after making the deposits under clauses (a) , (b) , (c) , (d) , (e) and (f) above; provided, however, that any connection or impact fees or charges of the character described in City of Dunedim v. Contractors & Builders Ass'n., 312 50. 2d 763 (F1a.1975) shall be deposited in a special account hereby created within the General Reserve Fund and designated as the "Contributions in Aid of Construction Account" and the moneys so deposited shall be applied solely to the acqui- sition and construction of capital improvements to the Water and Sewer Utility as a whole." 1 2 3 4 8 9 10 11 12 13 14 15 16 17 20 21 22 23 24 25 26 27 28 29 2 33 34 35 36 SECTION 4: Section 513 of the Bond resolution is hereby amended) 1by making the first word "Moneys" lower case and inserting immediately prior to such word the following clause: "Except for moneys on deposit in the "Contributions in Aid of Construction Account" within the General Reserve Fund which shall be applied as required in Section 505 (g) hereof,". SECTION 5: The second paragraph of Section 704 of the Bond Resolution is hereby amended to read as follows: It shall be the duty of the Consulting Engi- neers to prepare and file with the City and the Fiscal Agent on or before the lst day of August in each year a report setting forth their recommendations as to any necessary or advisable revisions of rates and charges, their statement as to the quality of the maintenance of the Water and Sewer Utility and such other advice and recommendations as they may deem desirable and it shall be the duty of the Consulting Engineers to include in such report their recommendations as to the amount that should be deposited monthly during the next Fiscal Year to the credit of the Renewal and Replacement Fund for the purposes set forth in Section 511 of this Reso- lution together with their recommendations as to the respective amounts to be applied to capital expenditure items and to extraordinary maintenance items. The report mentioned herein shall also state that the in- surance coverages carried by the City at the time of such report are reasonable compared to coverages carried by other publicly owned utilities of similar size and type, or his recommendations as to changes in such coverages. SECTION 6: The final paragraph of Section 706 is hereby amended to read as follows: "Notwithstanding the foregoing provisions of this Section, the City may institute and maintain fiscal- ly sound and prudent self-insurance provisions with - regard to those risks against which other publicly owned utilities of similar size and type are self -insured". SECTION 7: Section 708 of the Bond Resolution is hereby amended I to.read as follows: Section 708. Separate Systems. The City covenants and agrees that, so long as any of the Bonds secured hereby shall be outstanding, it will not incur any obligation or indebtedness nor issue any bonds for the purpose of paying the cost of acquisition of any water or sewer system or water and sewer system which system shall remain separate from the Water and Sewer Utility unless such obliga- tion, indebtedness or bonds shall be payable solely from the revenues of such separate system and the holders of such obligations or indebtedness shall have no recourse to the Revenues of the Water and Sewer Utility. --- -2 - 09C SECTION g The provisions of this resolution shall become effective immediately upon this adoption. PASSED, ADOPTED AND APPROVED this day I ATTEST: CITY CLERK I HEREBY CERTIFY that I have approved the form and correctness of this RESOLUTION. RECORD OF COUNCIL VOTE MAYOR: .—_. DISTRICT 1: DIS' ::CT 2: ©IST;:ICT 3: DISTRICT 4: ! -3-