R18-060 1 RESOLUTION NO. RI8-060
3 A RESOLUTION AMENDING RESOLUTION NO. R92-96 RELATING TO THE
4 WATER., WASTEWATER. AND STORM WATER UTILITY SYSTEM;
5 EXPRESSING THE INTENT OF THE CITY TO REIMBURSE CERTAIN
6 EXPENDITURES WITH PROCEEDS OF DEBT; CONTAINING CERTAIN
7 AUTHORIZATIONS AND OTHER PROVISIONS; AND PROVIDING AN
8 EFFECTIVE DATE.
9
10 WHEREAS, Resolution No. R92-96 adopted by the City Commission (the "City
11 Commission") of the City of Boynton Beach, Florida (the "City") on June 16, 1992, as
12 amended (the "Utility Bond Resolution") provides for the issuance by the City of obligations
13 of the City payable from certain revenues of the "Utility System" as defined in the Utility
14 Bond Resolution; and
15
16 WHEREAS, the term "Utility System," as defined in the Utility Bond Resolution
17 encompasses the "water supply" system of the City; and
18
19 WHEREAS, the City intends to acquire, construct and operate facilities for the provision of
20 chilled water to the City and customers of the City; and
21
22 WHEREAS, the City desires to amend the Utility Bond Resolution to resolve any ambiguity
23 whether"water supply" includes the provision of chilled water; and
24
25 WHEREAS, the City expects that it may incur capital expenditures with respect tothe chilled
26 water supply system prior to the issuance of bonds or completion of another form of
2.7 financing, and expects that it may reimburse such original expenditures with proceeds of the
28 bonds or other financing;
29 .
30 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
31 BOYNTON BEACH, FLORIDA:
32
33 Section J. Amendments to Utility Bond Resolution.
34
35 (a) The amendments .to the Utility Bond Resolution, set forth in this Section 1. shall not
36 become effective unless and until the City shall have received the written consent thereto of
37 both Assured Guaranty Municipal Corp. (as required by Resolution No. R12-001 of the City)
38 and Raymond James Capital Funding, Inc. (as required by Resolution No. R16-158 of the
39 City).
40
41 (b) The definition of"Improvements" set forth in Section 101 of the Utility Bond Resolution
42 (as previously amended by Resolution No. R96-88) is amended by the inclusion of the
43 underlined language below so as to provide as follows:
44 .
45 ""Improvements" shall mean (i) such improvements, renewals and replacements
46 ' of the Utility System or any part thereof and such extensions and additions thereto
1 as may be necessary or desirable, in the judgment of the.City, to keep the same in
2 proper condition for the safe, efficient and economic operation thereof and to
3 integrate into the Utility System any unit or part thereof, and shall include such
4 land, structures and facilities as may be authorized to be acquired or constructed
5 by the City under the provisions of State law and such improvements, renewals
6 and replacements of such land, structures and facilities of the Utility System and
7 such extensions and additions thereto as may be necessary or desirable for
8 continuous and efficient service to the public, which Improvements may include,
9 without limitation, land, structures and facilities used or useful for the collection,
10 transmission, treatment, disposal and reclamation of sewage and stormwater
11 runoff and for the cooling, supply, storage, treatment, transmission and
12 distribution of potable and non-potable water, which may include chilled water,
13 all to the extent the same constitute part of the Utility System and (ii) such other
14 expenditures as may be necessary or desirable in the judgment of the City but not
15 related to the Utility System, provided, that as used in Sections 404 and 702
16 hereof, the term "Improvements" shall not include the items described in this
17 clause (ii)."
18
19 (c) The definition of"Utility System" set forth in Section 101 of the Utility Bond Resolution
20 is amended by the inclusion of the underlined language below so as to provide as follows:
21
22 ""Utility System" shall mean, collectively, the existing water supply, treatment
23 and distribution system and the existing sewage collection, transmission,
24 treatment and disposal system owned and operated by the City, together with the
25 Project, any Improvements, including any improvements consisting of a
26 stormwater runoff collection, transmission, treatment and disposal system as
27 shall be designated by the Commission as being included in the Utility System,
28 and any separate Systems consolidated with the Utility System pursuant to
29 Section 710 of this Resolutioniand which shall include any Improvements
30 consisting of a system for the provision of chilled non-potable water to the City
31 and its customers."
32
33 Section 2. Intent to Reimburse. The City expects that it may incur capital
34 expenditures with respect to the City's chilled water system prior to the issuance of bonds or
35 completion of another form of financing to finance such expenditures, and expects that it may
36 reimburse such original expenditures with proceeds of bonds or another form of financing in
37 the maximum principal amount of $15,000,000.00. This does not obligate the City to issue
38 any bonds or complete any form of financing or to reimburse any such expenditures.
39
40 Section 3. Effective Date. This Resolution shall take effect immediately upon its
41 passage.
42
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1
2 PASSED AND ADOPTED this 17th day of April, 2018.
3
4 CITY OF BOYNTON BEACH, FLORIDA
5
6 YES NO
7
8 Mayor— Stephen B. Grant
9
10 Vice Mayor—Christina Romelus
11
12 Commissioner—Justin Katz
13
14 Commissioner—Mack McCray
15
16 Commissioner—Joe Casello r�
17
18 0
19 VOTE
20 ATTEST:
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22 4, / fr '
23 Jus' h A. Pyle, CM t/
24 C.► Clerk
25
26 ,(Corporate Seal).
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