Res 06-97 RESOLUTION NO. 6-97
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AUTHORIZING THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF DELRAY BEACH TO
ISSUE REDEVELOPMENT REVENUE REFUNDING AND IMPROVEMENT
BONDS IN THE PRINCIPAL AMOUNT NOT TO EXCEED SEVEN
MILLION NINE HUNDRED THOUSAND DOLLARS ($7,900,000.00)
UPON TERMS HEREINAFTER DESCRIBED; AND PROVIDING FOR
AN EFFECTIVE DATE.
WHEREAS, by Ordinance No. 46-85 adopted by the City of
Delray Beach, the City Commission of the City of Delray Beach,
Florida, created the Delray Beach Community Redevelopment Agency; and
WHEREAS, the City Commission of the City of Delray Beach,
Florida, has been requested by Motion of the Board of Commissioners of
the Delray Beach Community Redevelopment Agency to authorize the
issuance of Redevelopment Revenue Refunding and Improvement Bonds, in
one or more series, pursuant to Section 163.385, Florida Statutes, in
the principal amount not to exceed Seven Million Nine Hundred Thousand
said Bonds to be sold at
Dollars
($7,900,000.00),
public
or
private
sale upon terms and conditions determined appropriate and acceptable
to the Delray Beach Community Redevelopment Agency; and
WHEREAS, the City Commission of the City of Delray Beach,
Florida, deems it appropriate and in the public's interest to
authorize and approve the issuance of Redevelopment Revenue Refunding
and Improvement Bonds by the Community Redevelopment Agency of the
City of Delray Beach in the principal amount not to exceed Seven
Million Nine Hundred Thousand Dollars ($7,900,000.00), in one or more
series, for the purpose of financing and refinancing those
Redevelopment Projects provided for in the duly adopted Community
Redevelopment Plan as the same exists from time to time.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DELRAY BEACH FLORIDA, AS FOLLOWS:
,
Section 1. All of the above recitals are true and correct.
Section 2. That pursuant to Section 163.385, Florida
Statutes, the Delray Beach Community Redevelopment Agency is hereby
authorized to issue and sell at public or private sale Redevelopment
Revenue Refunding and Improvement Bonds, in one or more series, in the
principal amount not to exceed Seven Million Nine Hundred Thousand
Dollars ($7,900,000.00), for the purpose of financing and refinancing
those Redevelopment Projects provided for in the duly adopted
Community Redevelopment Plan as the same exists from time to time,
said Bonds to be sold upon the terms and conditions determined
appropriate and acceptable to the Delray Beach Community Redevelopment
Agency.
Section 3. The Delray Beach Community Redevelopment Agency
is hereby authorized to execute in its corporate capacity, in its
discretion, such documentation as it deems necessary and appropriate
to complete the issuance and sale of said Redevelopment Revenue
Refunding and Improvement Bonds to be issued for the purposes
described above.
Section 4. This Resolution shall take effect immediately
upon passage.
PASSED ~D ~OPTED in regular session on this the 4th day of
February, 1997.
ATTEST:
- 2 - Res. No. 6-97
01/14/97' TL~ 16:25 FAX 1 407 276 5489 SPIN DIT FED DOW ~oo2
SP R, DITTMAN, FEDI RSPII!L & DOWL1NG
OECRAY B~CH, F~RIDA 3~o~ DONALD C. DOWLING
UOHN W. SPINNER
Janua~ 14, 1997
]~. Peter J. Czajkowski .Mr. Christopher J. Brown
Stifel, Nicolaus & Company, Inc. 24 North Swinton Avenue
1800 Embassy Drive Delray Beach, FL 33444
~106
West Palm Beach, FL 33401
Susan Ruby, ~sq. Stephen D. Sanford, Es~.
City Attornoy Green~erg, Traurig
City of Delray Beach P.O. Box 20629
200 N.W. First Avenue west Pal~ Beach, FL 33416
Delray Beach, FL 33444
Revised Time Schedule
Dear Peter, Chris, Susan ~zld Steve:
Bas~d upon our discussions, th~ tollowing revised time schedule is anticipated
=o effect the subject Bond closing=
1. The City of Delray Beach is proceeding wi~h providing fifteen (15)
days notice to =hetaxing authorities=
2. The City of Delray Beach is proceeding to adve=tise the Resolution
pursuant to chapter 156 of the Plo=ida Statutes;
3. The Community Redevelopment A~enoy would entertain the Resolution
approving th~ sale of th~ Bonds and all closing documents on January 23, 1997,
contingent upon the subsequent approval of ~h~ City Comm£ssion~
4. Th~ City Com~ission will entertain the Resolution authorizing the
sale of the Bonds on Tuesday, Pebr~aL-y l, 1997~
5. The closing of the sale of the Bonds would ~ake p~aoe on
February ~, 1997.
Please review and advise ~f any of you see a problem with this revised time
schedule,
Sincerely,
ROBERT W. F~D~RSPIEL, P.A.
~ W. Fe~erepiel
RW~:kp
01/14/97 TUE 16:23 [TX/RX NO 76801
County Administxm~lon April 15, 1997
RO, BOX 1989
West Palm Beach, FL 33402-1989
(561) 355.2030 Alison MacGregor Harry
Fax' ($61) 35S-3982 City Clerk
http:llwww, co.palm-beach.fl.u$ City of Delray Beach
100 N. W. First Avenue
Delray Beach, FL 33444
Dear Ms. Harty:
P~mSeachCounty This letter acknowledges receipt of Resolution No. 6-
~oa~o~County 97 of the City Commission of the City of Delray Beach
Commissioners '
Florida, authorizing the Community Redevelopment Agency
BurtAaronson. Chai,man of the City of Delray Beach to issue Redevelopment
Maude Ford Lee, vice Chair Revenue Re funding and Improvement Bonds in the
principal am'ount not to exceed Seven Million Nine
Karen T Marcus
Hundred Thousand Dollars ($7,900,000) upon terms
CarolA. Robe~ hereinafter described; and providing for an effective
Warren H. Newell date.
MaryMcCa~y The Palm Beach County Board of County Commissioners
HenL. Foster officially received and filed your correspondence at
the February 18, 1997 Board meeting.
Sincerely,
County Administrator
Agenda Coordinator
RECEIVED
CITY CLERK
"~. F~ual Opportunily
Affirmative Action Employer'
~ prlnted on recycled paper
MEMORANDUM
TO: MAYOR AND CITY COMMISSIONERS
FROM: CITY MANAGER~I
SUBJECT: AGENDA ITEM ~ /~- REGULAR MEETING OF FEBRUARY 4, 1997
RESOLUTION NO. 6-97 AUTHORIZING THE COMMUNITY
REDEVELOPMENT AGENCY TO ISSUE BONDS
DATE: JANUARY 30, 1997
The Community Redevelopment Agency (CRA) has by motion and vote
approved the issuance of Redevelopment Revenue Refunding and
Improvement Bonds in the amount of $7,900,000.00 for the purpose
of financing and refinancing redevelopment projects as provided
for in the Community Redevelopment Plan.
Florida Statutes Section 163.345 provides that a resolution
authorizing the issuance of bonds by the CRA must be adopted by
the City Commission. Hence, Resolution No. 6-97 is before the
City Commission for a public hearing and consideration of
approval.
All statutory notification requirements have been met. Attached
is a copy of the CRA minutes pertaining to this matter. Closing
is to occur on February 5, 1997.
Recommend approval of Resolution No. 6-97.
ref:agmemol
Community
Redevelopment
Agency
Delray Beach
CERTIFICATION
I, CHRISTOPHER J. BROWN, do hereby certify that the attached is a true and correct copy
of an excerpt from the minutes, as the same was passed and adopted in regular session on January
9, 1997, by the Community Redevelopment Agency of Delray Beach, Florida.
IN WITNESS WHEREOF, I have hereunto set my hand and the official seal of the
Community Redevelopment Agency of Delray Beach, Florida, on this 10th day of January 1997.
Secretary
Community Redevelopment Agency
of Delray Beach, FL
SEAL
24 N. Swinton Avenue, Delray Beach, FL 33444 (561) 276-8640/Fax (561) 276-8558
Excerpt from the minutes of the Community Redevelopment Agency Board regular meeting of
January 9, 1997:
Item 5e. Bond Update: Peter Czajkowski, financial advisor for the CRA, advised the Board
that he went out to bid to allow the CRA to fund an additional $2,000,000 in tax
exempt projects. Barnett Bank was the most flexible, and the interest rate is much
better than the AAA rating in today's market. The interest rates would be fixed,
prepayments can be made at any time, subordinated obligations are permitted, and
their will be no bank points, fees, or expenses. The closing would be set for lanuary
30, 1997. Mr. Federspiel advised that the CRA would need to hold a special meeting
to approve a resolution then go to City Commission for approval. He also stated that
he would check the statutes but believes there is also a 15-day notification
requirement to be sent to the taxing authorities and perhaps a second City
Commission meeting. Mr. Czajowski will follow-up with Barnett Bank to see if
they would accept a letter of commitment under the terms they outlined for forty-
five days to allow for the approvals needed. Mr. Federspiel also stated that perhaps
a certified copy of the minutes of this meeting could replace a formal resolution.
Mr. Wideman moved to approve a resolution of the Board to accept Barnett Bank's
January 7, 1997 proposal, attached to these minutes as Exhibit "A," for taxable bonds
not to exceed $1,390,000 at a fixed interest rate of 7.77% and tax exempt bonds not
to exceed $6,415,000 at a fixed interest rate of 5.18% subject to the approval of City
Commission, pursuant to Florida Statutes, Chapter 163, subject to the approval of
all loan documents, the bond counsel, Board counsel, and the CRA Board; Mr.
deBaptiste seconded. The motion was approved unanimously.
II
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A PUBLIC HEARING will be ~
4, f~ (or ~f .,ny ~Jfl~
ray ~, ~, ~ ~i~ fi~
C~ M C~ Hail ~ N.W. ~
~ ~ ~ I:~ ~.m. ~ 5:~ ~.~.,
A RE~LUTION OF THE CITY C~-
MISSION OF THE CITY ~ ~LRAY
THE CMUNI~ REDEVELOP.
MENT AGENCY ~ THE CITY OF
BELR~Y BEACH TB I~UE
V~LOPMENT REVENUE REFUND
lNG AND IMPROV~ENT BONDS
tN T~E P~INCIPAL ~NT NOT
TO EXCEED ~EVEN MILLION NINE
HUNDRED THOU~ND ~L~RS
I~,~.~) U~N TE~ HERE-
INAFTER D~SCRIBED; AND
VIDING FOR AN EFFECTIVE DATE.
CITY OF DELR~Y BEACH
C~ C~
~: ~an~ ~, 1~
~a R~ N~
CITY OF DELRAY BEACH, FLORIDA NOTICE OF PUBLIC HEARING
A PUBLIC HEARING will be held on the following proposed
Resolution at 7:00 p.m. on TUESDAY, FEBRUARY 4, 1997 (or at any
continuation of such meeting which is set by the Commission), in
the City Commission Chambers, 100 N.W. 1st Avenue, Delray Beach,
Florida, at which time the City Commission will consider its
adoption. The proposed resolution may be inspected at the Office
of the City Clerk at City Hall, 100 N.W. 1st Avenue, Delray
Beach, Florida, between the hours of 8:00 a.m. and 5:00 p.m.,
Monday through Friday, except holidays. All interested parties
are invited to attend and be heard with respect to the proposed
resolution.
RESOLUTION NO. 6-97
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRAY BEACH,
FLORIDA, AUTHORIZING THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF DELRAY BEACH TO ISSUE REDEVELOPMENT REVENUE REFUNDING AND
IMPROVEMENT BONDS IN THE PRINCIPAL AMOUNT NOT TO EXCEED SEVEN
MILLION NINE HUNDRED THOUSAND DOLLARS ($7,900,000.00) UPON TERMS
HEREINAFTER DESCRIBED; AND PROVIDING FOR AN EFFECTIVE DATE.
Please be advised that if a person decides to appeal any decision
made by the City Commission with respect to any matter considered
at this hearing, such person will need to ensure that a verbatim
record includes the testimony and evidence upon which the appeal
is to be based. The City does not provide nor prepare such
record. Pursuant to F.S. 286.0105.
PUBLISH: Delray Beach News CITY OF DELRAY BEACH
January 23, 1997 Alison MacGregor Harty
City Clerk
Instructions to Newspaper: This is a standard legal ad to be
placed in the legal/classified section. Thank you.
CITY OF DELRRY BERgH
Writer's Direct Line: (561) 243-7091
DELRAY BEACH
MEMORANDUM
Ali.America City
till;
TO: Alison MacGregor Harty, City Clerk
1993
FROM: Susan A. Ruby, City Attorney
SUBJECT: Resolution Authorizing the CRA to Issue Bonds For the Purpose of
Financing and Refinancing Redevelopment Projects As Provided For in
the CRA Development Plan
The CRA has by motion and vote approved the issuance of Redevelopment Revenue
Refunding and Improvement Bonds in the amount of $7,900,000.00 for the purpose set
forth above.
Florida Statutes Section 163.345 provides that a resolution be adopted by the City
Commission authorizing the issuance of bonds by the CRA. Prior to adoption of the
resolution, the resolution must be advertised ten (10) days in advance of the adoption.
Furthermore, Fla. Stat. Sec. 163.346 requires notification to all taxing authorities which
levy ad valorem taxes on the taxable real property contained within the redevelopment
area by registered mail fifteen (15) days before the City's formal authorization of the
bonds.
The schedule is to have the City Commission adopt the resolution on February 4, 1997,
with the closing to occur on February 5, 1997. In order to meet the statutory notice
requirements, please mail notices by registered mail by January 17th to all taxing
authorities and advertise the resolution no later than January 24, 1997.
Attached please find a certified copy of the CRA minutes. Also, enclosed is the
resolution to be acted upon by the City Commission on February 4, 1997.
thing further, please call me.
Attachment
cc: David Harden, City Manager
Robert Federspiel, Esq.
Chris Brown, Director, CRA
I~SOLUTION NO. ~ -97
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AUTHORIZING THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF DELRAY BEACH TO
ISSUE REDEVELOPMENT REVENUE REFUNDING AND
IMPROVEMENT BONDS IN TITIC PRINCIPAL AMOUNT NOT TO
EXCEED SEYEN MILLION NI~E FIUNDKED THOUSAND DOLLARS
($7,900,000.00) UPON TERMS HEREINAFTER DESCRIBED; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, by Ordinance No. 46-85 adopted by the City of Delray Beach, the City
Commission of the City of Delray Beach, Florida, created thc Dclray Beach Community
Redevelopment Agency: and
WHEREAS, thc City Commi~aion of thc City of D¢lray Beach, Florida, ha~ been
requested by Motion of the Board of Commissioners of the Delray Beach Comanunity
Redevelopment Agency to authoriz~ the issuance of Redevelopment Revenue Refunding and
Improvement Bonds, in one or more series, pursuant to Section 163.385, Florida Statutes, in thc
principal amount not to exceed Seven Million Nine Hundred Thous',md Dollars ($7,900,000.00),
said Bonds to bc sold at public or private sale upon terms a,nd condition~ determined ,,ppropriatc
and acceptable to the Delray Beach Community Redevelopment Agency; and
WEIEREAS, the City Commission of the City of Dclray Beth. Florida. deems it
appropriate and in the public's interest to authorize and approve the issuance of Redevelopment
Revenue Refunding and Improvement Bonds by thc Community Redevelopment Agency of the
City of Delray Beach in thc principal amount not to exceed Seven Million Nine Hundred
Thousand Dollars ($7,900,000.00), in one or more series, for the purpose of financing and
refinancing those Redevelopment Projects provided for in thc duly adopted Community
Redevelopment Plan as the same exists from time to time.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. All of thc above recitals are true and correct.
Section 2. That pursuant to Section 163.385, Florida Statutes, the Delray Beach
Community Redevelopment Agency is hereby authorized to issue and sell at public or private sale
Redevelopment Revenue Refunding and Improvement Bonds, in one or more series, in the
principal amount not to exceexi Seven MilIion Nine Hundred Thousand Dollars ($7,900,000.00),
for thc purpose of financing and refinancing those Redevelopment Projects provided for in thc
duly adopted Community Redevelopment Plan as the same exists from time to time, said Bonds
to be sold upon thc terms and conditions determined appropriate and acceptable to the Delray
Beach Community R~developm~nt Agency.
Sic, lion 3. The Delray Beach Community Redevelopment Agency is hereby authorized
to execute in its corporate capacity, in its discretion, such documentation as it deems necessary
and appropriate to complete the i~uance and sale of said Redevelopment Revenue Refunding and
Improvement Bonds to be issued for the purposes described above.
Section 4. This Resolution shall take effect immediately upon passage.
PASSED AND ADOPTED in regular session on this the 4th day of February, 1997.
MAYOR
ATTEST:
City Clerk
[IT¥ DF DELRE¥ BE [H
CITY CLERK
NI-AmerimC~
1993
Finance Director
City of Delray Beach
100 N.W. 1st Avenue
Delray Beach, FL 33444
Re: Resolution No. 6-97/Authorizing the City of Delray Beach
Community Redevelopment Agency to Issue Bonds
Dear Mr. Safford:
The City of Delray Beach Community Redevelopment A~ency (CRA) has
requested that the Delray Beach City Commission authorize and
approve the issuance of Redevelopment Revenue Refundin~ and
Improvement Bonds, pursuant to Section 163.385, Florida Statutes,
in the principal amount not to exceed $7,900,000.00.
In accordance with the requirements of Section 163.346, F.S.,
please accept this letter as notice of the City Commission's
consideration of the request to authorize the CRA to issue bonds
for the purpose of financin~ and refinancin9 redevelopment
projects as provided for in the Community Redevelopment Plan.
The City Commission will hold a public hearin9 and take final
action on Resolution No. 6-97, a copy of which is attached, on
Tuesday, February 4, 1997, at 7:00 p.m., at City Hall, 100 N.W.
1st Avenue, Delray Beach, Florida.
If you have any questions, please do not hesitate to contact me.
Sincerely, . .
Alison MacGrego'r Harty
City Clerk
Attachment
cc: Susan A. Ruby, City Attorney
Christopher J. Brown, CRA Executive Director
Robert W. Federspiel, Esq.
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Chief Executive Officer 4b.
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X
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UNITED STATES POSTAL SERVICE ~,,. ~' '-"~ ~
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· Print your name, '~r~S, an~ZlP Cod~ i'~ this.box ·
Ci~ of De!ray Baach
City Clerk
100 N. W. 1st Avenue
Delray Beach, FL 33444
CITY aF DELRRV BERTH
DELRAY BEACH
F t 0 I ~ 0
~ CITY CLERK ~oo ..~. ~s~ ^~.~. ~ ~^o.. ~o~,~^ ~.~. ~o~,~'-~ooo
NVAmeri=C~
1993
~r. ~. Cecil Bennett
Chief ~xecut±ve Off±¢er
Palm Beach County Health Care District
324 Datura Street, #401
West Palm Beach, FL 33401
Re: Resolution No. 6-97/Authorizinq the City of Delray Beach
Community Redevelopment Aqency to Issue Bonds
Dear Mr. Bennett:
The City of Delray Beach Community Redevelopment A~ency (CRA) has
requested that the Delray Beach City Commission authorize and
approve the issuance of Redevelopment Revenue Refunding and
Improvement Bonds, pursuant to Section 163.385, Florida Statutes,
in the principal amount not to exceed $7,900,000.00.
In accordance with the requirements of Section 163.346, F.S.,
please accept this letter as notice of the City Commission's
consideration of the request to authorize the CRA to issue bonds
for the purpose of financin~ and refinancin~ redevelopment
projects as provided for in the Community Redevelopment Plan.
The City Commission will hold a public hearin~ and take final
action on Resolution No. 6-97, a copy of which is attached, on
Tuesday, February 4, 1997, at 7:00 p.m., at City Hall, 100 N.W.
1st Avenue, Delray Beach, Florida.
If you have any questions, please do not hesitate to contact me.
Sincerely,
~ Ma~cGre~o~ar~t y~
City Clerk
AMH/m
Attachment
cc: Susan A. Ruby, City Attorney
Christopher J. Brown, CRA Executive Director
Robert W. Federspiel, Esq.
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delivered. Consult postmaster for fee.
3. Article Addressed to: 4a. Article Number
Mr. William Cosgrove
Controller
Children's Services Council of ~ Registered [] Certified
Palm Beach County [] Express Mail [] Insured
3111 S. Dixie Highway, #243 r-I Retum Receipt for Merchandise [] COD
West Palm Beach FL 33405 7. Date of Delivery
,
5. Received By: (Pdnt Name)
and fee is paid)
6. Signa. tur~: (Addressee orAgent)
PS Form 3811, December 1994 DOmestic Return Receipt
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-:D STATES POSTAL SERVICE · 'i~ *":;t,, .................USPS
Permit No. G-lO
· Print your name, address, and ZIP Code in this box ·
City of Delray Beach
City Clerk
100 N. W. 1st Avenue
Delray Beach, FL 33444
h,lh,,lh,h,hh,hh,h,hhlh,t,i,,h,hlh,,Ih,,h,,ll :lh,,,,hJ
CITY OF DELRfi¥ EEl:tEK
DEL~¥ BE~¢~
CITY CLERK ..w.
NI-Ameri~C~
1993
Mr. William Cosgrove
Controller
Children's Services Council of Palm Beach County
3111 S. Dixie Highway, Suite 243
West Palm Beach, FL 33405
Re: Resolution No. 6-97/Authorizinq the City of Delray Beach
Community Redevelopment Aqenc¥ to Issue Bonds
Dear Mr. Cosgrove:
The City of Delray Beach Community Redevelopment Agency (CRA) has
requested that the Delray Beach City Commission authorize and
approve the issuance of Redevelopment Revenue Refunding and
Improvement Bonds, pursuant.to Section 163.385, Florida Statutes,
in the principal amount not to exceed $7,900,000.00.
In accordance with the requirements of Section 163.346, F.S.,
please accept this letter as notice of the City Commission's
consideration of the request to authorize the CRA to issue bonds
for the purpose of financin9 and refinancing redevelopment
projects as provided for in the Community Redevelopment Plan.
The City Commission will hold a public hearing and take final
action on Resolution No. 6-97, a copy of which is attached, on
Tuesday, February 4, 1997, at 7:00 p.m., at City Hall, t00 N.W.
1st Avenue, Delray Beach, Florida.
If you have any questions, pleg~e do not hesitate to contact me.
Sincerely,
~M a c~G r eggo r~Ha~r t~y~
City Clerk
AMH/m
Attachment
cc: Susan A. Ruby, City Attorney
Christopher J. Brown, CRA Executive D±rector
Robert W. Federspiel, Esq.
THE EFFORT ALWAYS MATTERS
F~nted on Recycjed Pa,oe,,
SENDER:
· Complete items I and/or 2 for additional services. I also wish to receive the
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delivered. Consult postmaster for fee.
3. Article Addressed to: 4a. Article Number
Michael M. Listick, Chair.
Downtown Development Authorit~4b' Se~ceType
64 S.E. 5th Avenue rI~Registered [] Certified
Delray Beach, FL 33483 I[] Express Mail I-I Insured
[] ~etum Receipt for Merchandise [] COD
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and fee is paid)
6. S~n re: Agent)
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City of Delray Beach
City Clerk
100 N. W. 1st Avenue
Delray Beach, FL 33444
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details of insurance limits and coverage for domestic and international registered mail.
See Domestic Mail Manual S010 and S911 for limitations of coverage.
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~ei"lG. February 1995 (Reverse)
rlTV E3F EIELRRV
NI-Amed=C~
1993
Michael M. histick, Chairman
Downtown Development Authority
64 S.E. 5th Avenue
Delray Beach, FL 33483
Re: Resolution No. 6-97/Authorizinq the City of Delray Beach
Community Redevelopment Aqency to Issue Bonds
Dear Mr. Listick:
The City of Delray Beach Community Redevelopment Agency (CRA) has
requested that the Delray Beach City Commission authorize and
approve the issuance of Redevelopment Revenue Refunding and
Improvement Bonds, pursuant to Section 163.385, Florida Statutes,
in the principal amount not to exceed $7,900,000.00.
In accordance with the requirements of Section 163.346, F.S.,
please accept this letter as notice of the City Commission's
consideration of the request to authorize the CRA to issue bonds
for the purpose of financing and refinancing redevelopment
projects as provided for in the Community Redevelopment Plan.
The City Commission will hold a public hearing and take final
action on Resolution No. 6-97, a copy of which is attached, on
Tuesday, February 4, 1997, at 7:00 p.m., at City Hall, 100 N.W.
1st Avenue, Delray Beach, Florida.
If you have any questions, please do not hesitate to contact me.
Sincerely,
City Clerk
Attachment
cc: Susan A. Ruby, City Attorney
Christopher a. Brown, CRA 8xecutive Director
Robert W. Federspiel, Esq.
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Office of Financial Management 4b. Sen~ceTypo
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County Commissioners
301 North Olice Avenue 7. Date of Delivery .
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City of Delray Beach
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Delray Beach, FL 33444
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[IT¥ OF DELRfl¥ BE EH
CITY CLERK too N.W. 1St AVENUE' DELRAY BEACH, FLORIDA 33444' 407/243:7000
Januar~ 16, 1997
1993
Mr. Richard Roberts, Director
Office of Financial Management & Budget
Palm Beach County Board of County Commissioners
301 N. Olive Avenue
West Palm Beach, FL 33401
Re: Resolution No. 6-97/Authorizinq the City of Delray Beach
Community Redevelopment Aqency to Issue Bonds
Dear Mr. Roberts:
The City of Delray Beach Community Redevelopment Agency (CRA) has
requested that the Delray Beach City Commission authorize and
approve the issuance of 'Redevelopment Revenue Refunding and
Improvement Bonds, pursuant to Section 163.385, Florida Statutes,
in the principal amount not to exceed $7,900,000.00.
In accordance with the requirements of Section 163.346, F.S.,
please accept this letter as notice of the City Commission's
consideration of the request to authorize the CRA to issue bonds
for the purpose of financing and refinancing redevelopment
projects as provided for in the Community Redevelopment Plan.
The City Commission will hold a public hearing and take final
action on Resolution No. 6-97, a copy of which is attached, on
Tuesday, February 4, 1997, at 7:00 p.m., at City Hall, 100 N.W.
1st Avenue, Delray Beach, Florida.
If you have any questions, please do not hesitate to contact me.
Sincerely, .
Alison MacGregdr Harty
City Clerk
~r~-~/m
Attachment
cc: Susan A. Ruby, City Attorney
Christopher J. Brown, CRA Executive Director
Robert W. Federspiel, Esq.
THE EFFORT ALWAYS MATTERS
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