Title
MOTION TO ADOPT PROPOSED RESOLUTION 2017-R-14.
PROPOSED RESOLUTION NO. 2017-R-14 IS A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF PEMBROKE PINES, FLORIDA AMENDING AND SUPPLEMENTING RESOLUTION NO. 2174, AS AMENDED AND SUPPLEMENTED; AUTHORIZING THE REFUNDING OF CERTAIN OUTSTANDING OBLIGATIONS; PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $55,000,000 CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2017; PROVIDING FOR THE PAYMENT OF THE BONDS FROM THE ELECTRIC FRANCHISE FEE; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AUTHORIZING THE NEGOTIATED SALE OF NOT TO EXCEED $55,000,000 CITY OF PEMBROKE PINES, FLORIDA CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2017; AWARDING THE SALE THERE-OF SUB-JECT TO THE TERMS AND CONDITIONS OF A BOND PURCHASE AGREEMENT; DELEGATING TO THE MAYOR, THE VICE MAYOR OR THEIR DESIGNEE THE AUTHORITY TO EXECUTE THE BOND PURCHASE AGREEMENT; AUTHORIZING THE EXECUTION AND DIS-TRIBU-TION OF A PRELIMINARY OFFICIAL STATEMENT AND OFFICIAL STATEMENT IN CONNEC-TION WITH THE DELIVERY OF THE BONDS; APPOINT-ING A REGISTRAR AND PAYING AGENT AND ESCROW HOLDER; AUTHORIZING THE EXECUTION AND DELIVERY OF AN ESCROW DEPOSIT AGREEMENT; AUTHORIZING THE EXECUTION AND DELIVERY OF A PAYING AGENT AND REGISTRAR AGREEMENT; DELEGATING TO THE CITY MANAGER OR HIS DESIGNEE THE AUTHORITY TO INSURE ALL, A PORTION OF OR NONE OF THE BONDS WITH A BOND INSURANCE POLICY, WHICHEVER IS IN THE BEST FINANCIAL INTEREST OF THE ISSUER; DELEGATING TO THE CITY MANAGER OR HIS DESIGNEE THE AUTHORITY TO PURCHASE A RESERVE PRODUCT IF IN THE BEST FINANCIAL INTEREST OF THE ISSUER; AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE CERTIFICATE; PROVIDING FOR BOOK-ENTRY-ONLY REGISTRATION; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. Proposed Resolution 2017-R-14 authorizes and awards the sale of the Capi...
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