R03-131
II
RESOLUTION NO. R03- 11>\
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, CALLING
FOR AN IN PRECINCT ELECTION TO SEEK
REFERENDUM APPROVAL FOR THE ISSUANCE OF
GENERAL OBLIGATION BONDS; PROVIDING
BALLOT LANGUAGE; PROVIDING THE ELECTION
SHALL BE HELD NOVEMBER 4,2003; DIRECTING
THE CITY CLERK TO PROVIDE A CERTIFIED COPY
OF THIS RESOLUTION TO THE SUPERVISOR OF
ELECTIONS; AUTHORIZING THE CITY
ADMINISTRATION TO DO ALL THINGS NECESSARY
TO EFFECTUATE THE INTENT OF THIS
RESOLUTION; AND PROVIDING FOR AN EFFECTNE
DATE.
WHEREAS, the City Commission of the City of Boynton Beach has heretofore
adopted Resolution 03-108 expressing an intent to seek referendum approval for the
~ssuance of General Obligation Bonds; and
WHEREAS, the City Commission believes it is in the best interest of the citizens
and taxpayers of the City of Boynton Beach to allow the electors of the City to express
~heir opinions through the voting process whether General Obligation Bonds should be
~ssued to fund the following construction project: Art Center-second floor expansion,
library expansion, Senior Center Phase Two construction, and Wilson Municipal Pool
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~enovations and improvements, the total project cost of which is $10,600,000.00; and
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WHEREAS, the City Commission has determined that it is in the best interest of
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~he citizens and taxpayers of the City to submit the referendum question hereinafter set
Iforth to the electors at the November 4, 2003 general election.
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I NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
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Section 1.
The foregoing "WHEREAS" clauses are hereby ratified and
onfirmed as being true and correct and are hereby made a specific part of this
eso1ution.
Section 2.
The City Commission of the City of Boynton Beach, Florida,
ursuant to the authority vested in it by the provisions of Florida Statute 100.211 hereby
alls a bond referendum to be conducted as in precinct election with the general election
fNovember 4, 2003.
Section 3.
The bond referendum announced herein is called for the purpose of
ubmitting to the electors of the City of Boynton Beach the question whether the
ollowing projects with the following estimated costs shall be funded through the use of
enera1 Obligation Bond proceeds secured by ad valorem tax revenue:
Art Center 2nd floor expansion
Library expansion
Senior Center Phase II
Wilson Municipal Pool renovation
$1,180,000.00
$6,120,000.00
$1,950,000.00
$1,350,000.00
he total aggregate principal amount of the bond issue shall not exceed $11,075,000.00,
hich includes project costs as stated above plus $475,000.00, which constitute projected
ond issuance costs and interim interest payments. The project costs are estimates only
nd bond proceeds may be spent on the projects in a greater or lesser amount than shown
bove.
Section 4.
The ballot title and ballot explanatory language shall be as follows:
CITY OF BOYNTON BEACH TO ISSUE GENERAL
OBLIGATION BONDS FOR CAPITAL IMPROVEMENT
PROJECTS
SHALL THE CITY OF BOYNTON BEACH, FLORIDA ISSUE
GENERAL OBLIGATION BONDS IN AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $11,075,000.00,
WITH A MATURITY NOT TO EXCEED TWENTY YEARS,
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BEARING INTEREST AT A RATE NOT EXCEEDING THE
LEGAL RATE, AND PAYABLE FROM AD VALOREM TAXES
TO PROVIDE FUNDS FOR CAPITAL IMPROVEMENTS TO:
THE ART CENTER, LffiRARY, SENIOR CENTER AND
WILSON MUNICIPAL; POOL.
For Bonds
Against Bonds
Section 5.
The City Clerk of the City of Boynton Beach shall provide a
ertified copy of this Resolution to the Supervisor of elections.
Section 6.
The City Administration is directed and authorized to do all things
ecessary to effectuate the intent of this resolution including but not limited to providing
otice of referendum election as required by Florida law.
Section 7.
All resolutions or parts of resolutions III conflict herewith are
ereby repealed to the extent of such conflict.
Section 8.
If any clause, section, other part or application of this Resolution is
e1d by any court of competent jurisdiction to be unconstitutional or invalid, in part or
pplication, it shall not affect the validity of the remaining portions or applications of this
eso1ution.
Section 9.
This Resolution shall become effective immediately upon
doption.
PASSED AND ADOPTED this ~ day of July 2003.
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ATTEST:
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