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Home My WebLink AboutR-1989-094 r RESOLUTION NO. 94-89 A RESOLUTION OF THE CITY OF DANIA, FLORIDA, RELATING TO N .E. 7TH AVENUE SPECIAL ASSESSMENT DISTRICT IMPROVEMENTS IN ACCORDANCE WITH SECTIONS 170 .03 , 170 . 04 , 170 .05 , 170 . 06 AND 170. 07 OF CHAPTER 170, FLORIDA STATUTES , STATING THE NATURE OF THE PROPOSED IMPROVEMENTS; DESIGNATING THE PORTION OF THE EXPENSES TO BE PAID BY SPECIAL ASSESSMENTS; DESIGNATING WHAT PART, IF ANY, OF THE EXPENSES SHALL BE APPORTIONED AND PAID FROM THE GENERAL FUND OF THE CITY OF DANIA; ESTABLISHING THE TOTAL ESTIMATED COST OF THE IMPROVEMENTS; APPROVING THE ASSESSMENT PLAT; DESIGNATING THE MANNER IN WHICH THE ASSESSMENTS SHALL BE MADE; DESIGNATING WHEN SAID ASSESSMENTS ARE TO BE PAID; DESIGNATING THE MANNER OF PAYMENT OF THE ASSESSMENTS; DESIGNATING THE LANDS UPON WHICH THE SPECIAL ASSESSMENTS SHALL BE LEVIED; PROVIDING FOR THE PREPARATION OF THE ASSESSMENT ROLL; PROVIDING FOR THE AVAILABILITY OF PLANS AND SPECIFICATIONS; PROVIDING FOR SEPARABILITY; PROVIDING THAT ALL RESOLUTIONS OR PARTS OF RESOLUTIONS IN CONFLICT HEREWITH BE REPEALED TO THE EXTENT OF SUCH CONFLICT; AND PROVIDING FOR AN EFFECTIVE DATE . WHEREAS, the City Commission of the City of Dania , Florida , has considered the need for improvements to N.E. 7th Avenue , north of Taylor Road ; and WHEREAS , the City Commission has considered the presentation of the city engineer and considered such recommendations to be in accordance with the best interests of the citizens of this community; and WHEREAS, Chapter 170 of the Florida Statutes authorizes the city to levy special assessments as hereinafter provided and issue Special Assessment Improvement Bonds . NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DANIA, FLORIDA: Section 1 . This resolution shall be known as the Resolution Authorizing the Project known as "N. E. 7th Avenue Project" . l Resolution No. 94-89 Section 2 . Roadway, drainage and intersection improvements within the area of the city hereinafter described as the "N .E . 7th Avenue Special Assessment District" are hereby authorized . The improvements shall consist of : A. Construction of a two ( 2 ) lane road from Taylor Road north to the terminus of the existing road approximately 500 feet south of Eller Drive . B. Mitigation planting along the newly constructed N. E . 7th Avenue . Section 3 . A. The total cost of the improvements will be paid from the proceeds of Special Assessment Improvement Bonds to be issued by the city except the sum of $190 ,000 .00 which will be paid from the General Fund of the City of Dania with money contributed by Broward County. B. The principal and interest on such Special Assessment Improvement Bonds shall be paid solely from the assessments levied on the lots and lands in the "N.E . 7th Avenue Special Assessment i District" and the interest and penalties paid thereon, except as set forth in Section 3A hereof . Section 4 . The lots and lands upon which the special assessments shall be levied shall be designated as the "N.E . 7th Avenue Special Assessment District" and shall consist of all lots and lands adjoining and contiguous or bounding and abutting upon such improvements or specially benefited thereby and further designated by the Assessment Plat hereinafter provided for , generally being all the lots and lands north of the Dania Cutoff Canal and east of Federal Highway ( U.S . 1 ) within the corporate limits of the City of Dania . Section 5 . The estimated cost of the improvements is Seven Hundred Thousand Dollars ( $700 ,000 . 00 ) . -2- J Resolution No. Section 6 . The Assessment Plat for the N.E . 7th Avenue Special Assessment District attached as Exhibit "A" , together with plans and specifications for the improvements , and the estimated costs of the improvements , attached as Exhibit "B" , all of which are presently on file with the city clerk , are hereby approved and the city clerk is directed to maintain on file and open for inspection of the public said Assessment Plat , plans and specifications and estimated costs of improvements . Section 7 . A. The manner in which these assessments shall be made shall be in accordance with the Assessment Schedule attached as Exhibit C . B. The assessments are to be paid in twenty ( 20 ) equal annual installments with interest on the deferred balance at a rate per annum of one percent ( 1% ) in excess of the interest rate on the Special Assessment Improvement Bonds . The first installment of such assessment , together with interest upon the whole assessment , shall be due and payable in cash on the first day of the first month after the date of acceptance of the N.E. 7th Avenue Project by resolution of the city commission and the �... additional installments, together with interest on the unpaid balance of the assessment , shall be due and payable on the anniversary of the first installment date in each and every year thereafter until paid. If the installments are not paid when due , there shall be added a penalty at a rate of one percent ( 1% ) per month until paid . C . Any assessments paid within thirty ( 30 ) days of the completion of the improvements and the adoption of a resolution of the city commission accepting same shall not be subject to the payment of interest . -3- Resolution No. Section 8 . Assessment Roll : The city clerk is directed to prepare a Preliminary Assessment Roll based upon the Assessment Plat attached hereto and to publish this resolution and notify all interested parties in accordance with the requirements of Sections 170.05 , 170.06 and 170 .07 of Chapter 170 , Florida Statutes . Section 9 . If any section, subsection , sentence , clause , phrase or portion of this resolution is for any reason held invalid or unconstitutional by any court of competent jurisdiction , such portion shall be deemed to be a separate , distinct and independent provision and such holding shall not affect the validity of the remaining portions of this resolution . Section 10 . That all resolutions or parts of resolutions in conflict herewith be and the same are hereby repealed to the extent of such conflict . Section 11 . That this resolution shall be in force and take effect immediately upon its pasage and adoption. PASSED and ADOPTED on this 12th day of September 1989 . MAYOR - COMM SSI ATTEST: CITY CLERK - AUDITOR APPROVED AS TO FORM AND CORRECTNESS By FR NK C. ADLEClt�y/tor.ney -4- Resolution No. 94-89 J 7- "N • ` '�kR7 •i` -f'y '�'wi�o�' '"' +'f` "`,�xv, 3'°�r 3�LF a 10, 400 LF 8— �O��F RN .7 : r Imp Lj . A 1-1 - I 4 ,swill 'A `near Vt PLC; -Ir Z 1.X,4 1.12 v m A) > x ki, M N !OVA' f t4h VAON 0 tl 'A IM O�v .......... zo Oli M a j; oritm 3)0 LEW 350 LF B' c 61 mt, co 14 rl . 400 L RR �400 LF F 0' vi iv A N. RX SCHULL ROAD I Ill-tw ITT lu 1�As§ -•W45 EXH I BIT "All 1 The City of Dartie, Florida 20 Year Special Assessment Bond Issue Sources and Uses of Funds - i Level Debt Service Scenario Sources: Per Amount of Bonds 510,000.00 Equity Contribution 190,000.00 Total Sources 700f000,00 ------------ Uses: Project 3950410.00 Costs of Issuance 17,000.00 Underwritev a Discount 14,280.00 Debt Service Reserve 51,000.00 Capitalized Interest (6 months) 20,009.38 Contingency 2,300.62 .............. Total Uses 700,000.00 EXHIBIT "B" J William R. HoUQh & Co. THE NORTH COVE BUILDING SUITE 300 00 U S.HIGHWAY ONE POST OFFICE BOX 14NS NORTH PALM BEACH,FLORIDA 3M08 (407)84"111 FAX 407 M".,34 MEMORANDUM TO: Members of the Distribution List FROM: Clark D. Bennett C� RE: N.E. 71h Avenue Special Assessment Project for the City of Dania 1 DATE: September 11, 1989 For your review and consideration please note the attached revised Sources and Uses Schedule for the special assessment project. Upon consideration of the time element involved between acceptance of the completed project and collection of special assessments from benefited property owners, I am proposing the inclusion of six months capitalized interest in the issue size. The total estimated financing cost would reflect $20,009.38 of capitalized interest bringing the total financing cost to$86,590.00. William R. Hough & r., Co. reaffirms its suggestion of a total not to exceed authorization of $525,000 of bonds. Please note also the inclusion of a new amortization schedule which provides for level debt service of 19 years duration. EXHIBIT "B" STATE.COUNTY AND MUNICIPAL BONDS 4 J • BERRY L: CALVIN , INC. K CIVILENIGIiNEERS LANDSURVEY0RS 1 - EXHIBIT "B" MAP KEY .:LIO uJER,ADSRESS ACRK ASSE SMENT ;MULTLFLIER ;TOTAL TAX VALUE . 27 ^gin n •---- - „�, ,v - 0: n.. 9)5 :FUTH Fun 0._9 3p..1 •J.06s.1v'i'i J14.000. _ ;10 HIiriST WE MWIiiAIfSIIE• i. _ : 4E3. t 9 Rh IV 1; ul LA. W. y VOW 1 HOW? a7i_ li. qIIPER NA: :-PETTY S. nG__n .=',1 .__ . :fi. LAUBcnDALE, :L _:_1n I y 021..iES 100.7 �8�'. Se _NTH STR�_. • ;FT. LAUDEKALL. :.. __AZ __ __ _ _______________ __ ,V__3 is OCei;lA71A -NiVEFFS:7. : . 0,833.c; 'E,QC2.1Ts0 134.750.00 . JT. LAUD.,_..__. ._ NICK FASoOARI-KLO ;K8 .n �vTH .:1 FiEET FT. LAODERDALE, FL 33215 --------------------- ------- ---------- --------- -------------- 34 0E33 K 061 ; Cfl'I L.A. EOD •5757 ,• 35 ;0233 00 063 Same d6 ._7;3 •._:i 4.02 j.3»?.^5 15,06_10- i,138,=10.0 ----------- - --- -- — ---------------- -- ----------r-------- ------------- i 33 rn• KHF.ii - -' ' 1 _.884._ 5,C8i.1020 5,736,75 ._ is 2, iL ;'_y RM FUN WE �0 =; 33 3,03 ,:.. L.AUDEFCn__, FL 3351 ----,---- ----- ----- --- -- 38 CL� ,1 03S ,3 rl:'i ' .A IL 15 50M.24 SWIM 1, 01,990.00 201 E. NEW _DP COM FAR ._ ___.- TCTAL 95.81 , a2.,99?.99 ;3_iE 1020 17,71C,.80 Q0 , EXHIBIT "C"