R03-108 RESOLUTION NO. 03- / ~ ~
A RESOLUTION OF THE CITY OF BOYNTON
BEACH, FLORIDA, APPROVING A CAPITAL
PROJECTS PRIORITY LIST AND EXPRESSING
INTENT TO SEEK REFERENDUM APPROVAL
FOR THE ISSUANCE OF GENERAL
OBLIGATION BONDS SECURED BY AD
VALOREM TAX REVENUE, AND NON-
REFERENDUM BONDS SECURED BY PUBLIC
SERVICE TAX REVENUE; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the City Commission conducted a workshop meeting o n Ju ne
10, 2003, to review and prioritize proposed capital projects and discuss financial
alternatives to ensure funding of those projects; and
WHEREAS, the City Commission reached consensus regarding the use of
referendum and non-referendum bond proceeds to fund selected projects; and
WHEREAS, the City Commission reached consensus regarding the priority
and bundling of projects to ensure their timely completion;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMISSION OF THE CITY OF BOYNTON BEACH, FLORIDA THAT:
Section 1. Each Whereas clause set forth above is hereby ratified as being
true and correct and incorporated herein by this reference.
Section 2. The City Commission authorizes a referendum election to
determine if a majority o£ the City's electors are in favor o£ issuing general
obligation bonds secured by ad valorem tax revenue to generate £unds for the
£ollowing projects:
S:\CA\RESO~Administrative\Capital Project List\Capital Project Reso.doc
PROJECT AMOUNT
Art Center Second Floor Expansion $ 1,180,000
Library Expansion $ 6,120,000
Senior Center Phase II $ 1,950,000
Wilson Pool $ 1,350,000
Section 3. The City Commission authorizes the issuance of bonds
secured by public service tax revenue to generate funds for the following projects:
PROJECT AMOUNT
Greenway / Bikeway $ 1,000,000
Jaycee Park Acquisition/Development $ 2,500,000
Nautica Park $ 200,000
SW Boynton Park & Community $ 3,040,000
Center
Wilson Center Replacement $ 1,496,500
Wilson Park Improvements $ 379,500
Section 4. The Commission intends to adopt subsequent resolution(s) as
required by Section 100.211 Florida Statute, when the actual date of referendum
election is established, or as otherwise required to implement the issuance of
referendum and non-referendum bonds. Notice of the referendum election shall be
provided in accordance with Section 100.342, Florida Statutes.
Section 5. The City Manager and City Attorney are authorized to take
such action as is necessary to implement the intent of this Resolution, including, but
not limited to, retention of bond counsel.
Section 6. This Resolution shall take effect immediately upon passage.
S:\CA\RESO~Administrative\Capital Project List\Capital Project Reso,doc
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ATTEST:
S:\CA\RESO~Administrative\Capital Project List\Capital Project Reso.doc