03-15-94SpMtg MARCH 15, 1994
A Special Meeting of the City Commission of the City of
Delray Beach, Florida, was called to order by Mayor Thomas E.
Lynch in the Commission Chambers at City Hall at 6:10 P.M.,
Tuesday, March 15, 1994.
Roll call showed:
Present - Commissioner Jay Alperin
Commissioner Ken Ellingsworth
Commissioner David Randolph
Commissioner Barbara Smith
Mayor Thomas E. Lynch
Absent - None
Also present were - City Manager David T. Harden and
City Attorney Susan A. Ruby
Mayor Lynch called the meeting to order and announced
that this meeting has been called for the purpose of considering
the following:
BOND VALIDATIONS/GOLF COURSE CLUBHOUSE AND. TENNIS
FACILITY: Determine whether to proceed with bond validation to
provide permanent financing for the Golf Course Clubhouse and the
Tennis Center.
The City Attorney advised that this issue concerns
whether to validate the bonds that the City may be issuing for
the golf course clubhouse and the tennis facility and sets forth
the timing scenarios that would be involved. It will take ninety
(90) days to validate, which will push back the schedule antici-
pated for the clubhouse.
Mayor Lynch spoke in favor of the validation and ques-
tioned the cost basis. The City Attorney responded that it would
be somewhere between $5,000 and $10,000.
Upon question by Dr. Alperin regarding a change in the
interest rates, Joe Safford, Finance Director, stated there is no
significant change in the interest rate anticipated during that
period of time.
Mr. Randolph questioned the length of time delay to
which the City Attorney replied that, should the contract be
awarded the beginning of June, the validation would probably
result in a delay until the end of June. Mr. Randolph indicated
his approval of the validation.
Mrs. Smith moved approval of the validation, seconded
by Mr. Ellingsworth. Upon roll call the Commission voted as
follows: Mrs. Smith - Yes; Dr. Alperin - Yes; Mr. Ellingsworth -
Yes; Mr. Randolph - Yes; Mayor Lynch - Yes. Said motion passed
with a 5 to 0 vote.
Mayor Lynch declared the Special Meeting adjourned at
6:15 P.M.
ATTEST:
The undersigned is the City Clerk of the City of Delray
Beach and that the information provided herein is the minutes of
the meeting of said City Commission of March I5, 1994, which
minutes were formally approved and adopted by the City Commission
~ity Cle~
NOTE TO READER:
If the minutes that you have received are not completed as indi-
cated above, then this means that these are not the official
minutes of the City Commission. They will become the official
minutes only after they have been reviewed and approved which may
involve some amendments, additions or deletions to the minutes as
set forth above.
2 3/15/94