RES. NO. 2024-R-38
A Resolution of the City Commission of the City of North Port, Florida Authorizing the Issuance of Not Exceeding $ 60,000,000 in Aggregate Principal Amount of City of North Port, Florida Infrastructure Sales Surtax Revenue Bonds, Series 2024, to Finance Costs of Certain Transportation Related Capital Improvements; Pledging Proceeds of the Local Government Infrastructure Sales Surtax Received by the City and Certain Other Funds to Secure Payment of the Principal of and Interest on Bonds Issued Hereunder; Providing for the Rights of the Holders of Bonds Issued Hereunder; Making Certain Other Covenants and Agreements in Connection with Bonds Issued Hereunder; Authorizing the Awarding of Said Series 2024 Bonds Pursuant to a Public Bid; Delegating Certain Authority to the City Manager for the Award of the Series 2024 Bonds and the Approval of the Terms and Details of Said Series 2024 Bonds; Appointing the Paying Agent and Registrar for said Series 2024 Bonds; Authorizing the Distribution of a Preliminary Official Statement and the Execution and Delivery of an Official Statement with Respect to Such Series 2024 Bonds; Authorizing the Use of an Official Notice of Sale and the Publication of a Summary Thereof; Authorizing the Execution and Delivery of a Continuing Disclosure Certificate for the Series 2024 Bonds; Delegating Authority to the City Manager with Respect to the Potential Procurement of Municipal Bond Insurance for the Series 2024 Bonds; Delegating Authority to the City Manager to Determine the Reserve Account Requirement for the Series 2024 Bonds and Whether to Utilize a Reserve Account Insurance Policy with Respect Thereto; Providing for Conflicts; Providing for Severability; and Providing an Effective Date.
- Committee
- City Commission Regular Meeting
- Introduced
- July 10, 2024
- On agenda
- September 10, 2024
- Passed
- September 10, 2024
Where it was heard
City Commission Regular MeetingWatch North Port
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