ID 2025-040
ORDINANCE - AUTHORIZING THE ISSUANCE OF, IN ONE OR MORE SERIES, A TOTAL PRINCIPAL AMOUNT NOT EXCEEDING $120,000,000 WATER AND WASTEWATER IMPROVEMENT REVENUE BONDS OF THE CITY OF MARGATE, FLORIDA TO FINANCE CAPITAL IMPROVEMENTS TO THE WATER AND WASTEWATER SYSTEM OF THE CITY; PROVIDING FOR DEFINITIONS, FINDINGS, AUTHORIZATION OF THE ISSUANCE OF THE FIRST SERIES OF BONDS IN AN AMOUNT NOT TO EXCEED $60,000,000; PROVIDING FOR THE DESCRIPTION OF BONDS, REDEMPTION PROVISIONS, EXECUTION OF BONDS, NEGOTIABILITY, REGISTRATION AND CANCELLATION OF BONDS; PROVIDING FOR THE FORM OF BONDS; PROVIDING FOR SECURITY FOR THE BONDS FROM NET REVENUES OF THE WATER AND WASTEWATER SYSTEM; PROVIDING FOR THE CREATION OF FUNDS AND ACCOUNTS; PROVIDING FOR THE APPLICATION OF BOND PROCEEDS; PROVIDING FOR THE DISTRIBUTION OF REVENUES; PROVIDING FOR REPEAL OF ORDINANCE NO. 85-27, AS SUPPLEMENTED, AMENDED AND RESTATED BY ORDINANCE NOS. 92-34, 96-16, 99-29, 2004-02, 2006-06, 07-04 AND 2009-06; PROVIDING FOR SEVERABILITY AND PROVIDING FOR AN EFFECTIVE DATE.
- Committee
- Regular City Commission Meeting
- Introduced
- February 6, 2025
- On agenda
- February 19, 2025
- Passed
- February 19, 2025