HomeMy WebLinkAboutR-2021-102 Parks Master Plan Capital Projects Intent to Issue Tax-Exempt Bonds or Notes and Reimbursement of Expenditures Paid or Incurred Prior to Issuance of Bonds or NotesRESOLUTION NO.2021-102
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, ESTABLISHING ITS OFFICIAL INTENT OF THE CITY
TO ISSUE TAX-EXEMPT BONDS OR NOTES IN AN AMOUNT NOT
EXCEEDING FIFTY MILLION DOLLARS ($50,000,000.00) TO FINANCE
THE COSTS RELATING TO PARKS AND RECREATION MASTER PLAN
CAPITAL PROJECTS AND TO USE A PORTION OF THE PROCEEDS OF
SUCH BONDS OR NOTES TO REIMBURSE EXPENDITURES PAID OR
INCURRED PRIOR TO THE DATE OF ISSUANCE OF SUCH BONDS OR
NOTES; PROVIDING FOR CONFLICTS; FURTHER, PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City Commission (the "Commission") of the City of Dania Beach,
Florida (the "City") has authorized the implementation of the Parks and Recreation Master Plan;
and
WHEREAS, the Commission intends to reimburse costs incurred for such capital projects
undertaken with respect to the Parks and Recreation Master Plan with proceeds of future tax-
exempt financing;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA:
Section 1. That the foregoing "WHEREAS" clauses are ratified and confirmed as
being true and correct and are made a specific part of this Resolution.
Section 2. That the City expresses its intention to issue in a principal amount not
exceeding Fifty Million Dollars ($50,000,000.00) of tax-exempt bonds or notes for the
construction of capital facilities with respect to its Parks and Recreation Master Plan to be paid by
the City in part prior to the issuance of such tax-exempt bonds or notes. This Resolution is intended
to constitute a "declaration of official intent" within the meaning of Section 1.150-2 of the Federal
Income Tax Regulations.
Section 3. That the expenditures to be reimbursed pursuant to this Resolution will be
incurred not earlier than a date sixty (60) days prior to the date of adoption of this Resolution in
connection with payments made from available City funds with respect to the Parks and Recreation
Master Plan, and provided that should any expenditures made within such sixty (60) day period,
the City intends for such to be reimbursed as permitted by Section 1.150-2 of the Federal Income
Tax Regulations. This Resolution is adopted solely for the purposes of complying with the
requirements of the Code of Federal Regulations, Title 26, § 1.150-2 and no bonds or notes are
being issued.
Section 4. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 5. That this Resolution shall be in full force and take effect immediately upon
its passage and adoption.
PASSED AND ADOPTED on July 13, 2021.
ATTEST:
r a- y
THOMAS SCHNEIDER, CMC TAMARA
CITY CLERK �� tea" MAYOR
ISNE'��9
APPROVED AS/TOX-.ORM AND CORRECTNESS:
THOMAS J. SRO
CITY ATTO E
2 RESOLUTION 42021-102