25-276
A. MOTION TO ADOPT Resolution of the Board of County Commissioners of Broward County, Florida, authorizing the issuance of a taxable revolving line of credit note in the principal amount of not to be outstanding in excess of $25,000,000 to finance the costs of certain capital projects at the Broward County Civic Arena, and refunding a portion of certain outstanding obligations; providing that the Note shall be payable from the pledged revenues; authorizing and delegating to the Mayor and County Administrator the sale of the Note to the Bank pursuant to the terms and conditions of a Revolving Credit Agreement with the Bank; authorizing the execution and delivery of a Revolving Credit Agreement; providing for certain other matters in connection therewith; and providing an effective date. (Per the Tuesday Agenda Memorandum, the Board’s consideration of Motion A for this item is based on the substitute Exhibit 1, which was distributed as Additional Material and now includes the Form Revolving Credit Agreement and the Term Sheet.) ACTION: (T-12:06 PM) Approved Resolution No. 2025-48 as amended with Regular Meeting Additional Material 16(2), dated March 11, 2025, submitted at the request of Finance and Administrative Service Department. (See Regular Meeting Additional Material 16, dated March 11, 2025, submitted at the request of Finance and Administrative Service Department. VOTE: 8-0. Commissioner Geller was not present. B. MOTION TO ADOPT budget Resolution within the Tourist Tax Capital Fund to appropriate revenue in the amount of $10,000,000 to finance the costs of certain capital projects at the Broward County Civic Arena. ACTION: (T-12:06 PM) Approved Resolution No. 2025-49. VOTE: 8-0. Commissioner Geller was not present. C. MOTION TO ADOPT budget Resolution within the Series 2006B and 2016 Civic Arena Refunding Bonds Fund to appropriate revenue in the amount of $5,000,000 to refund a portion of certain outstanding obligations on the Series 2016 Bonds. ACTION: (T-12:06 PM) Approved Resolution No. 2025-50. VOTE: 8-0. Commissioner Geller was not present.
- Committee
- FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT
- Requested by
- FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT
- Introduced
- February 25, 2025
- On agenda
- March 11, 2025
- Passed
- March 11, 2025