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Res 68-81 RESOLUTION NO. 68-81 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY BEACH, FLORIDA, PROVIDING FOR THE ACQUISITION OF LAND FOR RECREATIONAL FACILITIES AND PARK PURPOSES, AND THE PURCHASE AND INSTALLATION OF RECREATIONAL FACILITIES AND EQUIPMENT IN AND FOR THE CITY OF DELRAY BEACH, FLORIDA; PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS IN THE AGGREGATE PRINCIPAL A>~OUNT OF NOT EXCEEDING $10,000,000 AND GENERAL OBLIGATION BONDS IN THE PRINCIPAL AMOUNT OF NOT EXCEEDING $3,000,000 TO FINANCE THE SAP~ IN THE MANNER HEREIN SET FORTH; AND ORDERING AND PROVIDING FOR A BOND ELECTION ON THE APPROVAL OF THE BONDS. WHEREAS, the City Council of the City of Delray Beach, Florida (the "City Council"), finds it expedient at this time to provide for the acquisition of land for recreational facilities and park purposes, and the purchase and installation of recreational facilities and equipment (each acquisition and improvement hereinafter collectively referred to as the "Project") in and for the City of Delray Beach, Florida (the "City"), and contemplates in connection therewith to issue bonds to finance the same and to order and provide for a bond election on the approval of such bonds; and, ~EREAS, the City Council contemplates financing each improvement contemplated by the Project by issuing General Obligation Bonds (the "Bonds"), in the aggregate principal amount of not exceeding $13,000,000 to be secured by the full faith and credit of the City, for the payment of all or a portion of the costs of the following improvements respectively: 1. $10,000,000 principal amount of General Obligation Bonds for the acquisition of approximately 20 acres of land for park purposes at the northwest corner of Linton Boulevard and the Intracoastal Waterway and for the purchase and installation of recreational facilities and equipment thereon; and, 2. $3,000,000 principal amount of General Obligation Bonds for the purchase and installation of recreational facilities and equipment for the Park Area in the vicinity of the northeast corner of Lake IdR Road and Barwick Road; the acquisition of land adjacent to the Delray Beach Country Club and the purchase and installation of recreational facilities and equipment thereon; the acquisition of land for park purposes in the south- west area of the City, being south of Lowson Boulevard and west of Con- gress Avenue, and the purchase and installation of recreational facilities and equipment thereon; the purchase and installation of recreational facilities and equipment for Miller and Pcmpey Parks; and the purchase and installation of recreational facilities and equipment in the northeast section of the City being east of Swinton Avenue and north of Atlantic Avenue at a site to be determined by the City Council; and, WHEREAS, it is necessary and essential to call and to hold a special bond election submitting the issuance of such Bonds to the ap- proval or disapproval by the residents who are qualified electors and reside within the City, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS: Section !. That subject to the approval of the qualified elec- tors of the City as set forth in Section 4 hereof, each acquisition and improvement contemplated by the Project is hereby authorized. Section 2. That subject to the approval of the qualified elec- tors of the City as set forth in Section 4 hereof, that there is hereby authorized the issuance of the Bonds of the City in an a~areqate ~rincimal amount not to exceed Thirteen Million Dollars ($13,000,000) to finance all or a portion of the costs of each acquisition and improvement in the Project, for which the full faith and credit of the City shall be pledged. The payment of the principal of and interest on such Bonds shall be pay- able at such times and in suck manner as shall hereafter be determined by subsequent resolution of the City Council, and such Bonds shall be payable from ad valorem taxes levied and collected in the City without limitation as to rate or amount on all taxable property in said City sufficient to pay the principal of and interest on such Bonds as the same become due and payable. Section 3. That the Bonds may be issued all at one time or in part from time to time as the City Council may in its discretion hereafter determine by subsequent resolution of the City. Section 4. That the Bonds for each acquisition and improvement contemplated by the Project shall not be issued unless such Bonds as to each acquisition and improvement shall be approved at the bond election hereinafter provided for by a majority vote of the qualified electors residing in the City, voting in the election on such bonds, all in the manner provided in the Constitution, Statutes of Florida and the Charter of the City. If any issue of Bonds for any acquisition and improvement fails to be approved by a majority of the qualified electors residing in the City voting in the election on such issue in the manner herein set forth, such failure of approval will not effect the issuance of the Bonds for any acquisitions and improvements which have been duly approved. Section 5. That a bond election is hereby ordered to be held in the City on the 22nd day of September, 1981, to determine whether or not there shall be issued by the City General O~!igation Bonds in an aggregate principal amount not to exceed Ten Million Dollars ($10,000,000), and General Obligation Bonds in an aggregate principal amount not tc exceed Three Million Dollars ($3,000,000), bearing interest at such rate or rates not exceeding the legal rate, and to mature not later than forty (40) years from the date of issuance of said Bonds, for the purpose of financ- ing each acquisition and improvement contemplated by the Project. Section 6. That polling locations or places shall be as deter- mined by the Supervisor of Elections for Palm Beach County, Florida, and all qualified electors of the City who vote in said election shall vote at said designated polling places. The polls shall be open on the date of said bond election from seven o'clock A.M. until seven o'clock P.M. on the same day. Only the duly qualified electors residing in the City will be permitted to vote in said bond election. Section 7. That the City Clerk of the City shall prepare and give notice of the bond election above required by causing a copy of this resolution, with an appropriate caption, to be published at least twice, once in the fifth week and once in the third week prior to the date of said bond election in the Delray Beach News Journal, the first publication to be not less than thirty (30) days prior to the date of said bond elec- tion. The Clerk shall secure from the publishers of said newspaper an appropriate affidavit of proof that said resolution has been duly pub- lished as herein set forth, and said affidavit shall be made a part of the record of the City Council. Section 8. That the vote at said bond election shall be by votomatic equipment and in each polling place there shall be at least one votomatic device. Paper ballots shall be used for absentee voting. It shall be the responsibility of the Supervisor of Elections for Palm Beach County, Florida, to have prepared and furnished to the inspectors for said election votomatic equipment in such quantity as shall be required to carry out the ' ~= tn~nt of this resolution, and to have prepared and approved by the proper authorities and installed in the votomatic equipment such ballots or other data as shall be necessary to conduct the election of the cuali.fj~ ~]~,~+~ residing ~- ~- ~ ........ ~he issuance of Bonds for each acquisition and improvement contemplated by -2- Res. No. 68-81 the Project in the aggregate principal amount of Ten Million Dollars (10,000,000) and Three Million Dollars ($3,000,000), respectively, shall be approved to pay for financing all or a portion of the costs of such acquisitions and improvements. Section 9. That the returns of the referendum shall be canvassed in the manner provided by law, and said returns shall be certified to the City Council, which shall declare the results thereof. Section 10. That the various ballots for each improvement con- stituting the Project to be used in said bond election shall be substanti- ally in the following form: BALLOT CITY OF DELRAY BEACH, FLORIDA BOND ELECTION i. Shall the City of Delray Beach, Florida (the "City"), issue its General Obligation Bonds (the "Bonds") in the principal amount not to exceed $10,000,000, bearing interest at such rate or rates not exceeding the legal rate, as shall be determined upon the sale thereof, maturing not later than forty (40) years from the date of issuance of such Bonds, for the payment of all or a portion of the costs of acquiring approximately 20 acres of land for park purposes at the northwest corner of Linton Boule- vard and the Intracoastal Waterway and for the purchase and installation of recreational facilities and equipment thereon, the principal of and interest on such Bonds to be payable from ad valorem taxes levied and collected in the City in an amount sufficient to pay the principal of and interest on the Bonds as the same become due and payable, all as provided in a resolution adopted by the City Council of the City of Delray Beach, Florida, on August 11, 19817 Instruction to Voters: Indicate by punching the pos- tion next to "FOR BONDS" if you favor Proposed Bond Issue. Indicate by punching the posi- tion next to "AGAINST BONDS" if you do not favor Bond Issue. 2. Shall the City of Delray Beach, Florida (the "City"), issue its General Obligation Bonds (the "Bonds") in the principal amount not to exceed $3,000,000 bearing interest at such rate or rates not exceeding the legal rate, as shall be determined upon the sale thereof, maturing not later than forty (40) years from the date of issuance of such Bonds, for the payment of all or a portion of the costs of purchase and installation of recreational facilities and equipment for the Park Area in the vicinity of the northeast corner of Lake Ida Road and Ba~ick Road; the acquisition of land adjacent to the Delray Beach Country Club and the purchase and installaticn of recreational facilities and equipment thereon; the acqui- sition of land for park purposes in the southwest area of the City, being south of Lowson Boulevard and west of Congress Avenue, and the purchase and installation of recreational facilities and equipment thereon; the purchase and installation of recreational facilities and equipment for ~itler and Pompey Parks; and the purchase and installation of recreational facilities and equipment in the northeast section of the City being east of Swinton Avenue and north of Atlantic Avenue at a site to be determined by the City Council, the principal of and interest on such Bonds to be payable from ad valorem taxes levied and collected in the City in an amount sufficient to pay the principal of and interest on the Bonds as the same become due and payable, all as provided in a resolution adopted by the City Council of the City of Delray Beach, Florida, on August 11, 19817 -3- Res. No. 68-81 Instruction to Voters: Indicate by punching the pos- tion next to "FOR BONDS" if you favor Proposed Bond Issue. Indicate by punching the posi- tion next to "AGAINST BONDS" , if you do not favor Bond Issue. Section 11. That the Supervisor of Registration for Palm Beach County, Florida, is hereby authorized and requested to make up and certify a list of the names of all qualified v6ters residing in the City of Delray Beach, Florida. A certified copy of such list shall be furnished to the Inspectors and Clerk of the election at the polling places where the votes are to be cast in said election, and a certified copy of such list shall be filed among the records of this City Council. Section 12. That said election shall in all other respects be held and conducted in the manner provided in and by the laws of the State of Florida. Section 13. That this resolution shall take effect in the manner provided by law. PASSED AND ADOPTED in regular session on this the llth day of August, 1981. MAYOR~' LEON M. WEEKES ATTEST: City Clerk -4- Res. No. 68-81