HomeMy WebLinkAboutO-2011-027 Creating Section 2-12 Debt Management Policy ORDINANCE NO. 2011-027
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, REPEALING SECTION 2-12 IN ITS ENTIRETY,
ENTITLED "ISSUANCE OF PROMISSORY OBLIGATIONS", OF ARTICLE
I, ENTITLED "IN GENERAL" OF CHAPTER 2, ENTITLED
"ADMINISTRATION" AND CREATING A NEW SECTION 2-12 OF
ARTICLE 1 TO BE ENTITLED "DEBT MANAGEMENT POLICY";
PROVIDING FOR SEVERABILITY; PROVIDING FOR CONFLICTS;
FURTHER,PROVIDING FOR AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DANIA,
FLORIDA:
Section 1. Section 2-12, entitled "Issuance of promissory obligations", of Article 1,
entitled"In General", of Chapter 2, entitled "Administration", of the City Code of Ordinances is
repealed in its entirety.
Section 2. That a new Section 2-12 of Article 1, Chapter 2, entitled "Debt
Management Policy", of the City Code of Ordinances is created to read as follows:
Sec. 2-12. Debt Management Policy.
The City Commission shall, from time to time, adopt a Resolution establishing a City
Debt Management Policy,which will be prepared by the City Finance Department.
Section 3. That if any section, clause, sentence or phrase of this Ordinance is for any
reason held invalid or unconstitutional by a court of competent jurisdiction, the holding shall not
affect the validity of the remaining portions of this Ordinance.
Section 4. That all ordinances or parts of ordinances in conflict with the provisions of
this Ordinance are repealed.
Section 5. That this Ordinance shall take full effect immediately at the time of its
passage and adoption.
PASSED on first reading on July 12, 2011.
PASSED AND ADOPTED on second reading on August 9, 2011.
ATTEST:
&�a
/��, 9
LOUISE STILSON, CMC PATRICIA A. FLURY
CITY CLERK MAYOR
APPROVED AS TO FJORM AND CORRECTNESS: �ARD,s
1
THOMM J. ASBRd
CITY ATTORNEY '
ATED 19�`
2 ORDINANCE#2011-027