HomeMy WebLinkAboutCity of Tamarac Resolution R-77-177T V7-,e Duce / �: V1144 6,0i bl �tio � e�
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C IT-Y OF T.-VtiiARAC , FLORI-DA
RESO'LUT I ON NO* - j77
. A- .RE.�SOLUT ION. BY" THE _ ��"I:'�'�' C�UNC I.L OF THE C IT�r
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C E I l G A' D w:PECL. RING ITS INTENT
TO TERiMINATE REST I`N;D:: ==C � ,r+G,E_ '' �O I D AND HO
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FOR NAUGHT, A CERTAIN AGREE 1ENT ENTERED INTO
BY AND BETWEEN THE CITY OF TAMARAC AND TAMARAC
ENTERPRISES INC. , A FLORIDA CORPORATION , DATED
JANUARY 3. 1967, WHEREIN THE CITY OF TAMARAC
AGREED TO COLLECT FROM THE LOTOWNERS , RESIDING
IN SECTIONS 1 AND 2 OF TAMARAC LAKES, AND PAY
OVER TO TAMARAC ENTERPRISES THOSE MONIES COL-
LECTED AS SET FORTH IN CERTAIN DEED RESTRICTION'S
TO RETIRE AN INDENTURE OF MORTGAGE AND UTILITIES
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AND RECREATION BONDS " 0 DS SERIES A IN THE AMOUNT
OF 1 7S0 000 T to $ , .00 AND TO REAFFIRM RESOLUTION
71-123, REPEALING RESOLUTION NUMBERS 64-1; 64--2;,
64-3; 6S-S; 65-6; 65-7; 66-2; 66-7; 66-8; 70-41 AND.
72-4 3 , TOGETHER WITH ANY OTHER ORDINANCE OR
RESOLUTION ADOPTS
v D BY THE CITY. COUNCIL TO IMPLEMENT
THE AFORESAID AGREEMENT. TO PROVIDE NOTICE TO .THE
OWNER AN HOLDER OF ANY OF THE ABOVE MENTIONED
BONDS THE TRUSTFE FIRST NATI0"NAL BANK OF MIAMI
TAMARAC ENTERPRISES INC., THE ASSIGNOR, OF THE CITY
OF TAMAARAC' S INTENTION TO RESCIND CANCEL AND VOID
THOSE CERTAIN ASSIGNMENT OF LEASES FOR RECREATIONAL
FACILITIES TOGETHER WITH RESCISSION, CANCELLATION
AND TERMINATION OF THE ACCEPTANCE BY THE CITY OF
THOSE DEED RESTRICTIONS PERTAINING TO SECTIONS 1
AND 2 OF TAMARAC LAKES, TOGETHER WITH NOTICE OF THE
RESCISSIONS, TERMINATION, CANCELLATION OF THE AGREE-
MENT REFERRED TO ABOVE DATED JANUARY 3 , . 19 6 7 AND
PROVIDING. AN EFFECTIVE DATE
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WHEREAS, the City Council of the City of Tamarac, did
on January 3, 1967, pursuant to Resolution 66-2, enter into an
agreement with Tamarac -Enterprises Inc . , -_to collect from lotowhers
in Sections 1 and 2 of Tamarac Lakes and remit to Tamarac Enter-
prises Inc., monies in accordance with a fee schedule a- provided
therein, to satisfy a certain Indenture of Mortgage secured by a
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Utility and Recreation Bond Series "A" in the amount of $1., ,000.00Mr
together with interest thereon until said Bonds were retired, and
WHEREAS, the City Council of the City of Tamarac to 0
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implement the aforesaid agreement, adopted Resolutions numbered M.
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64-1, 64_ 3)2, 64-, 65-5; 65-6; 65-7; 66-2; 66-7; 66-8; 70-41 and 72-43t--a
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which relate to the acceptance as assignee of certain leases
of recreational facilities' and deed restrictions
imposed upon
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the owners of lots in Sections 1 and 2 of Tamarac Lakes sub-
divisions located within the City of Tamarac, and
lf'HERE�kS , the City Council of the City of Tamarac has
previously, by Resolution 72-43, expressed its intent to fulfill
the terms and conditions of said agreement by and between the
City of Tamarac and Tamarac Enterprises Inc., by collecting
from the owners of lots in the following subdivisions located
in the City of Tamarac:
Tamarac Lakes and Tamarac Lakes 2nd Section;
Tamarac Lakes North and Tamarac Lakes North 2nd Section;
Tamarac Lakes South;
certain designated sums for recreational facilities rentals, and
WHEREAS, the City of Tamarac, over 'Che past ten (10)
years, has made said collections and paid over to the Bond
Indenture Trustee_, City National Bank of Miami, Miami, Florida,
all funds collected, and
WHEREAS, the City of Tamarac, due to matters beyond
its control, has been unable to fully and completely collect
rental payments from the lot owners to pay over sufficient
funds to meet the terms and
conditions
of and the resulting
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expenditures from the City
Treasury
for accounting administrator,
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clerical and supplies, unforeseen
at the time of entering into
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said agreement, and
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WHEREAS, in spite
of the
city's diligent effort to
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fully and completely comply
with
the terms and conditions of
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said agreement, a default presently exists in the Bond In denture
of approximately $7S,000.00, and
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WHEREAS, the City of Tamarac,
after a period of
ten
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(10) years, and obligated for an additional
39 year period
to
make said collections, it appears to be
a near certainty
of its
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inabilityto effect sufficient collections
to retire the
Bond
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Indenture in accordance with the terms and conditions therein
contained, and
WHEREAS, unless the City is able to fully and
completely meet the Bond Indenture payments and redeem the
Bonds by the year 2006 no benefits will accrue to the Cit`- and
the titles to the properties being held in by the Trustee
will revert back to Tamarac Enterprises, Inc. and the City* of
Tamarac will have lost 49 years of time and expense in an effort
to acquire certain monetary benefits which are at best a remote
possibility.
NOW, THEREFORE, BE IT RE -SOLVED BY- -THE CITY COUNCIL OF
THE CITY OF TAMARAC, FLORIDA:
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That the City Council of the Cit--
of Tamarac does hereby -renounce, terminate, rescind, cancel•,
void and hold for naught a certain agreement•, entered into on
January 3, 1967, by and between the City of Tamarac and Tamarac
Enterprises Inc., to collect from each lot owner the _following
fees,monthly,and remit said fees to Tamarac Enterprises, at
Boulevard Na "Iofia*l -Bunk o-f MIa'mi
P e`r` MAont h
1. Tamarac Lakes and Tamarac Lakes 26.00
Second Section
2. Tamarac Lakes North and Tamarac 26.00
Lakes North Second Section
3. Tamarac Lakes South
29.00
4. Tamarac Lakes and Tamarac Lakes
Second Section 10.00
S. Tamarac Lakes North and Tamarac 10.00
Lakes North Second Section
6. Tamarac Lakes South 13.00
SECTION 2: That the City Council of the City of
Tamarac does hereby renounce, terminate, rescind, cancel, void
and hold for naught the assignments of those certain leases,
by and between Kenneth Behring, joined by his wife, Patricia A.
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Behring, as lessor to Tamarac Lakes Inc., and subsequently
assigned to the City of Tamarac , as assignee , be in u lt,a`es o l
the recreation facilities of those subdivisions set in
Section 1 of this Resolution.
gPCT T nm 117 •
The City Council of the Ci tv of Tam: rac
does hereby renounce, rescind, terminate, cancel, void andhol:
for naught
the
assignment by
and
between the
City
of Tamarac,
assignee,
and
Tamarac Lakes
Inc,
as assignor,
of
certain
reservations and servitudes contained in paragraph 5 of those
certain use and building restrictions, imposed upon those lots
located in the subdivisions set forth in Section 1 of this
Resolution.
SECTION 4: The City Council of the City of Tamarac
does hereby reaffirm, Resolution No. 71-12, passed, adopted and
approved on February 2, 1971.1 by the City Council of the City of
Tamarac.
SECTION 5: The City Council of the City of Tamarac
does hereby repeal specifically Resolutions numbered 64-1; 64-2;
64-3; 65-5; 65-6; 65-7; 66-2; 66-7; 66-8; 70--41; and 72-43; together
with any resolution adopted by Council not specifically mentioned
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herein, but which may be in conflict with the intention of the Mori
City of Tamarac to void, set aside and hold for naught any
obligations responsibilities, or liabilities the City of Tamarac 0
miah amaintenance
b t h ve In reference to the performance of on
and for individual lots and private recreational areas and as to #
the collection and remittance of leasehol-d monies., all of these M
obligations and duties being those created by private deed
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restrictions and the obligations thereunder. having been previously 071
assigned to the City of Tamarac.
SECTION 6 : The City Manager is hereby instructed, _0
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after passage of this Resolution and its proper execution, to r�
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record a certified copy of same and further to provide certified
copies to all interested parties, including but not limited to:
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Presidents of individual sections of the City.' and holders of
leasehold interests , Tamarac Enterprises Inc. , all known bond-
holders, the Trustee Cite National Bank of Miami, Miami, Floric?a,
and Kenneth E. and Patricia A. Behring,
SECTION 7:
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This Resolution shall become effectix-e
immediately upon its final passage.
PASSED, ADOPTED AND APPROVED THIS ,-- DAY OF ,1977.
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ATTEST:
I HEREBY CERTIFY that -I have
approved the form and correct-
ness of this RESOLUTION
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CITY ATTORNE
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BE.
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hereby C rE' ai tT
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'Ind correct copy of
LV--- 1100 A) _ --
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1WITIMSS My HAND AND OFFICIAL SEAL r t
OF 'IMF, CITY OF TAMARAC, FLORIDA. '
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INFORMATION TO THE OFFICIAL RECORDS BOOK
CITY OF TAMARACI FLORIDA
IN RE: R-77-177
AS REFLECTED IN THE MINUTES OF THE RECONVENED REGULAR
COUNCIL MEETING, HELD TUESDAY, NOVEMBER 1, 1977, IN
THE COUNCIL CHAMBERS OF THE CITY HALL:
Item #3. Tamarac Bond Indenture - Discussion and
possible action,
was reconsidered upon motion of Councilman Irving Disraelly,
seconded by Vice -Mayor Massaro, and unanimously approved.
Following discussions relative to Item #3, by motion of
Councilman Disraelly, "to rescind Temporary 869(Ed.Note:
R-77-177), because the City Attorney has indicated to us
that the resolution 869 is the law of the City of Tamarac
until it is rescinded and if we hold a workshop a week from
now, it won't do us any good, because the action. has already
been taken", motion seconded by Councilman Weinberger, and
voted upon , to wit:
FURTHER,
held
same
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Mayor F a 1 ck -AYE
Vice -Mayor Massaro -NAY
Councilman Weinberger -AYE
Councilman Disraelly -AYE
Councilman Klika -NAY
MOTION CARRIED 3 to 2 .
RESOLUTION TEMPORARY # 8 6 9 ( R- 7 7-17 7) RESCINDED
see R-77-187 enacted by Council at a Special Meeting
on Tuesday, November 8, 1977, which contains the
provisions, wording, etc. as R-77-177.
CLERK
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5811 NORTHWEST 88TH AVENUE 0 TAMARAC,
TELEPHONE (305) 722-5900
77.25507 4
INFORMATION IN RE:
(attached)
As reflected in
Regular Council
ber 1, 1977, in
City Hall:
RESOLUTION NO. R 77-177
FLORIDA
the Minutes of the Reconvened
Meeting, Feld Tuesday, Novem-
the Council Chambers of the
Item #3. Tamarac Bond Indenture - Discussion
and possible action.
was reconsidered upon motion of Councilman
Irving Disraelly, seconded by Vice Mayor Massaro,
and unanimously approved.
Following discussions relative to Item #3, by
motion of Councilman Disraelly, "to rescind
Temp. 869 (Ed.note: R 77-177), because the
City Attorney has indicated to us that the
resolution 869 is the law of the City of
Tamarac until it is rescinded and if we hold
a workshop a week from now,. i t won't do us
any good, because the action has already been
taken", motion seconded by Councilman Weinberger,
and voted upon, to wit:
MAYOR FALCK : AYE
VICE MAYOR MASSARO : NAY
COUNCILMAN WEINBERGER: NAY
COUNCILMAN D I SRAELLY : AYE
COUNCILMAN KLIKA: NAY
MOTION CARRIED 3 to 2.
RESOLUTION TEMPORARY #869 (R 77-177)
Dated:
11/14/?7
33321
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