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HomeMy WebLinkAboutDocumentation_Regular_Tab 20_10/13/2022Agenda Item #20. Regular Council STAFF MEMO -D Meeting: Regular Council -Oct 13 2022 Staff Contact: Jeremy Allen, Village Manager Department: Manager TITLE ORDINANCE NO. 14-22, FIRST READING, AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, FLORIDA, ORDERING AND CALLING FOR A BOND REFERENDUM ELECTION TO BE HELD ON MARCH 14, 2023, TO DETERMINE IF THE QUALIFIED ELECTORS RESIDING IN THE VILLAGE APPROVE THE ISSUANCE BY THE VILLAGE OF GENERAL OBLIGATION BONDS, IN ONE OR MORE SERIES, WHICH SHALL MATURE NOT LATER THAN TWENTY (20) YEARS FROM THEIR DATE OF ISSUANCE IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING $10,000,000 PAYABLE FROM AD VALOREM TAXES LEVIED IN AMOUNTS SUFFICIENT TO PAY DEBT SERVICE ON SUCH BONDS ON ALL TAXABLE PROPERTY WITHIN THE VILLAGE TO FINANCE COSTS RELATING TO THE ACQUISITION OF LANDS TO BE USED FOR VARIOUS PURPOSES DESCRIBED HEREIN; PROVIDING SEVERABILITY AND AN EFFECTIVE DATE. At the September 8, 2022 Regular Council Meeting the Village Council directed staff to prepare an ordinance for Council consideration to call for a bond referendum election on the March 14, 2023 ballot in the amount of $10,000,000. The Village Council desires to acquire lands that are environmentally sensitive or waterfront or which may be used for recreation, open spaces, archeological or historical preservation or traffic mitigation and to make improvements thereto (collectively, the "Land Acquisition Program"), in order to promote, improve, maintain and protect the health, safety and welfare of the residents of the Village. Issuance of general obligation bonds, in one or more series (the "Bonds"), maturing not later than twenty (20) years from their date of issuance, and secured by and payable from ad valorem taxes levied in amounts sufficient to pay debt service on such Bonds on all taxable property within the Village (the "Ad Valorem Taxes"). In order for the item to be placed on the March 14, 2023 ballot it must be sent to the elections office no later than December 9th. This document and any attachments may be reproduced upon request in an alternative format by completing our Accessibility Feedback Form, sending an e-mail to the Village Clerk or calling 561-768- 0443. PROJECT NAME: NA BUDGET: NA ENCUMBERED: NA Page 371 of 478 Agenda Item #20. Proposed: NA PROJECTED TOTAL: NA Referendum Ordinance Projected Remaining: NA Page 372 of 478 Agenda Item #20. ORDINANCE NO. 14-22 AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, FLORIDA, ORDERING AND CALLING FOR A BOND REFERENDUM ELECTION TO BE HELD ON MARCH 14, 20235 TO DETERMINE IF THE QUALIFIED ELECTORS RESIDING IN THE VILLAGE APPROVE THE ISSUANCE BY THE VILLAGE OF GENERAL OBLIGATION BONDS, IN ONE OR MORE SERIES, WHICH SHALL MATURE NOT LATER THAN TWENTY (20) YEARS FROM THEIR DATE OF ISSUANCE IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING $10,000,000 PAYABLE FROM AD VALOREM TAXES LEVIED IN AMOUNTS SUFFICIENT TO PAY DEBT SERVICE ON SUCH BONDS ON ALL TAXABLE PROPERTY WITHIN THE VILLAGE TO FINANCE COSTS RELATING TO THE ACQUISITION OF LANDS TO BE USED FOR VARIOUS PURPOSES DESCRIBED HEREIN; PROVIDING SEVERABILITY AND AN EFFECTIVE DATE. WHEREAS, it is necessary and desirable and in the best interests of the Village of Tequesta, Florida (the "Village") to acquire lands that are environmentally sensitive or waterfront or which may be used for recreation, open spaces, archeological or historic preservation or traffic mitigation and to make improvements thereto (collectively, the "Land Acquisition Program"), in order to promote, improve, maintain and protect the health, safety and welfare of the residents of the Village. WHEREAS, the most efficient and fair method of financing costs of the Land Acquisition Program is through the Page 373 of 478 Agenda Item #20. issuance of general obligation bonds, in one or more series (the "Bonds"), maturing not later than twenty (20) years from their date of issuance, and secured by and payable from ad valorem taxes levied in amounts sufficient to pay debt service on such Bonds on all taxable property within the Village (the "Ad Valorem Taxes"). WHEREAS, in accordance with the Constitution and laws of the State of Florida, the question as to whether or not such Bonds should be issued to finance costs of the Land Acquisition Program must be submitted to the qualified electors of the Village. NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA AS FOLLOWS: SECTION 1: A bond referendum election of the qualified electors in the Village is hereby ordered and called to be held on March 14, 2023, to determine whether or not the Village shall issue the Bonds in one or more series to finance costs of the Land Acquisition Program, as generally described in Exhibit A hereto. Such Bonds shall mature not later than twenty (20) years from their date of issuance, shall be issued in an aggregate principal amount of not exceeding $10,000,000, shall bear interest at a rate not in excess of the maximum lawful rate 2 Page 374 of 478 Agenda Item #20. and shall be secured by and payable from the Ad Valorem Taxes. If the issuance of the Bonds is approved by the qualified electors, the specific provisions of the Bonds shall be set forth in a resolution or ordinance subsequently adopted by the Village Council. SECTION 2: The referendum election shall be conducted in accordance with applicable law at the same time and places as the general municipal election to be held on March 14, 2023, coordinated by the Supervisor of Elections of Palm Beach County and, to the extent required, the Village Clerk. SECTION 3 The form of ballot to be used shall be in substantially the form as attached hereto as Exhibit B. The ballots to be used in the referendum election, including any required sample ballots, shall be prepared and distributed by the Supervisor of Elections of Palm Beach County in accordance with applicable law. Electronic balloting may be utilized to the extent allowable by, and in accordance with, applicable law. SECTION 4: Adequate provision shall be made by the Supervisor of Elections of Palm Beach County for"Vote by Mail". Ballots to be used in the referendum election for "Vote by Mail" shall be in substantially the same form as those ballots utilized at the polling places on the day of the referendum election. 3 Page 375 of 478 Agenda Item #20. Ballots for "Vote by Mail" shall be distributed, collected and canvassed in accordance with applicable law. SECTION 5: Returns of the votes cast at the referendum election shall be canvassed in accordance with applicable law including Section 2-232 of the Village's Code. If a majority of the votes cast at such election in respect to the aforestated proposition shall be "YES - For Bonds" votes, such proposition shall be approved and the Bonds may be issued by the Village. If a majority of the votes cast at such election in respect to the aforestated proposition shall be "NO - Against Bonds" votes, such proposition shall be defeated and the Bonds may not be issued by the Village. SECTION 6: A public notice, substantially in the form attached hereto as Exhibit C, shall be published in full in a newspaper of general circulation in the Village in the manner provided by law. The notice shall be published at least 30 days prior to the bond referendum election, once in the fifth week prior and once again in the third week prior to the week in which the bond referendum election is held, all in the manner provided in Section 100.342, Florida Statutes. The Village Clerk is hereby charged with the responsibility of this notice procedure. SECTION 7: The Village Clerk is hereby authorized and directed to coordinate with and through the Supervisor of Page 376 of 478 Agenda Item #20. Elections of Palm Beach County in carrying out the purposes of this Ordinance. SECTION 8: If there is conflict between the provision of this Ordinance and any other ordinance or resolution or portions thereof, the provisions of this Ordinance shall prevail to the extent of such conflict. SECTION 9: If any section, subsection, sentence, clause, phrase or portion of this Ordinance is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and such holding shall not affect the validity of the remaining portions. SECTION 10: Specific authority is hereby granted to codify this Ordinance. SECTION 11: This Ordinance shall take effect immediately upon adoption. 5 Page 377 of 478 Agenda Item #20. EXHIBIT A The Land Acquisition Program consists of the acquisition of lands that are environmentally sensitive or waterfront or which may be used for recreation, open spaces, archeological or historic preservation or traffic mitigation and capital improvements thereto, all as to be specifically determined by the Village Council and as the same may be amended and supplemented from time to time by the Village Council. Page 378 of 478 Agenda Item #20. EXHIBIT B Official Ballot Village of Tequesta, Florida Bond Referendum Election March 14, 2023 Village of Tequesta General Obligation Bonds for Land Acquisition Program Shall the Village of Tequesta issue bonds, in one or more series, not exceeding $10,000,000, maturing within 20 years of issuance, with interest not exceeding the maximum legal rate, and payable from ad valorem property taxes levied in amounts sufficient to pay debt service on such Bonds, to finance acquisition of environmentally sensitive lands or waterfront lands or lands for recreation, open spaces, archeological or historic preservation or traffic mitigation and capital improvements thereto. INSTRUCTIONS TO VOTERS: YES - FOR BONDS NO - AGAINST BONDS Page 379 of 478 Agenda Item #20. EXHIBIT C Notice to Electors of the Village of Tequesta of a Bond Referendum Election to be held on March 14, 2023 Regarding the Village of Tequesta General Obligation Bonds for Land Acquisition Program Notice is herby given that a bond referendum election will be held on March 14, 2023, to determine whether the Village of Tequesta may issue bonds, in one or more series, not exceeding $10,000,000, maturing within 20 years of issuance, with interest not exceeding the maximum legal rate, and payable from ad valorem property taxes levied in amounts sufficient to pay debt service on such Bonds, to finance acquisition of environmentally sensitive lands or waterfront lands or lands for recreation, open spaces, archeological or historic preservation or traffic mitigation and capital improvements thereto. As required by Ordinance No. 14-22, this Notice is given by publishing said Ordinance No. 14-22 in full as follows: [copy Ordinance] Page 380 of 478