26-375

A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF HALLANDALE BEACH, FLORIDA, ESTABLISHING THE TERMS OF AN INTERFUND PROMISSORY NOTE BETWEEN THE GENERAL FUND, AS LENDER, AND THE THREE ISLANDS SPECIAL ASSESSMENT FUND (FUND 380), AS BORROWER, IN THE ORIGINAL PRINCIPAL AMOUNT OF $3,500,000; ACKNOWLEDGING AN INITIAL PRINCIPAL PAYMENT OF $1,563,491.37 FROM YEAR ONE ASSESSMENT COLLECTIONS; FIXING THE INTEREST RATE AT 4.00% PER ANNUM COMMENCING OCTOBER 1, 2026; PROVIDING FOR ANNUAL SETTLEMENT PAYMENTS, MATURITY, CITY FUNDING OF DISCRETIONARY EXEMPTIONS, AND DISPOSITION OF REMAINING BALANCES AT PROJECT CLOSE-OUT; AUTHORIZING A FISCAL YEAR 2025-26 BUDGET AMENDMENT AND RELATED ACTIONS; AND PROVIDING FOR AN EFFECTIVE DATE. (STAFF: FINANCE DIRECTOR)

Resolution Agenda Ready Introduced August 24, 2026

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