Title
MOTION TO ADOPT PROPOSED RESOLUTION NO. 2025-R-39.
PROPOSED RESOLUTION NO. 2025-R-39 IS A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF PEMBROKE PINES, FLORIDA PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $50,000,000 CITY OF PEMBROKE PINES, FLORIDA GENERAL OBLIGATION REFUNDING BONDS, SERIES 2025; AUTHORIZING THE REFUNDING OF ALL OR A PORTION OF THE CITY OF PEMBROKE PINES, FLORIDA GENERAL OBLIGATION BONDS, SERIES 2015; DIRECTING THE APPLICATION OF THE PROCEEDS OF SUCH SERIES 2025 BONDS; AUTHORIZING A COMPETITIVE BID AND APPROVING THE FORM OF THE SUMMARY NOTICE OF SALE AND THE OFFICIAL NOTICE OF SALE PERTAINING TO SUCH SERIES 2025 BONDS; MAKING CERTAIN PROVISIONS AND AUTHORIZING CERTAIN RESPONSIBILITIES WITH RESPECT TO THE NOTICE, BIDDING AND SALE OF THE SERIES 2025 BONDS; DELEGATING THE AWARD OF THE SALE OF THE SERIES 2025 BONDS TO THE CITY MANAGER OR HIS DESIGNEE; MAKING CERTAIN PROVISIONS AND DELEGATING CERTAIN RESPONSIBILITIES WITH RESPECT TO THE SERIES 2025 BONDS; APPROVING THE FORM OF AND AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND AUTHORIZING THE EXECUTION AND DELIVERY OF A FINAL OFFICIAL STATEMENT; APPOINTING A BOND REGISTRAR AND PAYING AGENT AND AN ESCROW AGENT; AUTHORIZING THE EXECUTION AND DELIVERY OF AGREEMENTS BETWEEN THE CITY AND THE BOND REGISTRAR AND PAYING AGENT AND BETWEEN THE ISSUER AND THE ESCROW AGENT; AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE CERTIFICATE; AUTHORIZING OTHER REQUIRED ACTIONS; SUPPLEMENTING RESOLUTION NO. 3034; PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. On August 6, 2025, the City Commission authorized the issuance of bond indebtness to refund all or a portion of the City’s outstanding General Obligation Bonds, Series 2015.
2. This Proposed Resolution No. 2025-R-39 authorizes the issuance of a not to exceed amount of $50,000,000 in one or more series for the purpose of refunding the 20...
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