03-21-85SpMtg MARCH' 21~ 1985
A Special Meeting of the City Council of the City of Delray
Beach, Florida, was called to order by Mayor Doak S. Campbell in the
Council Chambers at City Hall at 1:30 P.M., Tuesday, March 21, 1985.
Roll call showed:
Present - Council Member Malcolm T. Bird (arrived at 1: 39)
Council Member Marie Horenburger
Council Member Arthur Jackel
Council Member Jimmy Weatherspoon
Mayor Doak S. Campbell
Absent - None
Also present were - Acting City Manager Robert A. Barcinski and
Assistant City Attorney Barbara A. Hall
Mayor Campbell called the meeting to order and announced
that this meeting has been called for the purpose of (1) consideration
of alternatives with regard to repayment of Beach Renourishment Grant
Anticipation Note and authorization of a funding source which may in-
clude but is not limited to the appropriation of certain City funds
and/or issuing a taxable note.
1. The Acting City Manager reported that the Note to cover the
construction cost for the renourishment project is due to expire on
Sunday and the City is still waiting for some of the Grant funds. They
are asking Council to consider the extension of the Note and the manner
in which they might extend it. Their recommendation is Option lB, to
pay off as much of the loan as they can with grant money they now have,
to extend the balance of the Note for 180 days and as the grant money
comes in, pay it off.
Mr. David Huddleston, Finance Director, advised that yester-
day they received an additional $382,000 from the State so the net cost
of extending the loan would be $7,495 rather than $7,778 as shown in the
memo Council has before them.
The Assistant City Attorney presented Resolution No. 27-85:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY
BEACH, FLORIDA AUTHORIZING THE CITY TO ENTER INTO A LOAN
AGREEMENT WITH BARNETT BANK OF PALM BEACH COUNTY FOR THE
PURPOSE OF PAYING ITS 1984 BEACH RENOURISHMENT GRANT
ANTICIPATION NOTE; AUTHORIZING THE ISSUANCE OF ITS 1985
GRANT ANTICIPATION NOTE EVIDENCING SUCH LOAN IN A PRIN-
CIPAL AMOUNT NOT EXCEEDING $3,000,000; AUTHORIZING THE
CONTINUATION OF THE INTEREST ACCOUNT AND PRINCIPAL AC-
COUNT CREATED AND ESTABLISHED BY RESOLUTION NO. 77-84;
AUTHORIZING THE TRANSFER OF CERTAIN MONEYS FROM THE BEACH
RESTORATION FUND TO SUCH INTEREST ACCOUNT; AUTHORIZING
ALL THINGS DEEMED NECESSARY OR ADVISABLE IN CONNECTION
WITH THE FOREGOING AND PROVIDING AN EFFECTIVE DATE FOR
THIS RESOLUTION.
(Copy of Resolution No. 27-85 is on file in the official
Resolution Book)
Mr. Huddleston suggested that in the blank space in Section
5 of the resolution they insert $120,000.
Mr. Jackel moved for the adoption of Resolution No. 27-85,
including the amount of $120,000 in Section 5, seconded by Mr. Weather-
spoon. Upon roll call Council voted as follows: Mrs. Horenburger -
Yes; Mr. Jackel - Yes; Mr. $Jeatherspoon - Yes; Mayor Campbell - Yes.
Said motion passed with a 4 to 0 vote.
~efore roll call, upon question by Mr. Weatherspoon regard-
ing why the grant money is taking so long, Mayor Campbell advised that
there will be a hearing with Lawton Chiles' aide on March 27th. That
would be a good time to ask that question. The Acting City Manager
stated he will have the time of that meeting at the next regular Council
meeting.
At this point the roll was called to the motion.
Mrs. Horenburger moved to appropriate the $120,000 from the
Beach Renourishment Fund to the Interest Account, seconded by Mr.
Weatherspoon. Upon roll call Council voted as follows: Mrs. Horen-
burger - Yes; Mr. Jackel - Yes; Mr. Weatherspoon - Yes; Mayor Campbell -
Yes. Said motion passed with a 4 to 0 vote.
Mr. Bird arrived at the meeting at this time.
Mayor Campbell declared the meeting adjourned at 1:40 P.M.
!
ATTEST: ~ City Clerk
MAYOR
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 Council of March 21, 1985, which minutes were for-
mally approved and adopted by the City Council on ~/P~c~ ~//~/~.
City Cl~rk
NOTE TO READER:
If the minutes that you have received are not completed as indicated
above, then this means that these are not the official minutes of City
Council. 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.
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