86-15 v RESOLUTION NO. 86-15
A RESOLUTION APPROVING THE AUTHORIZATION
AND EXECUTION OF AN INTERLOCAL AGREEMENT
PROVIDING FOR THE CREATION OF A POOLED
MUNICIPAL AND COUNTY LOAN PROGRAM FOR
FINANCING AND REFINANCING OF QUALIFYING
CAPITAL PROJECTS
WHEREAS, the City of Atlantic Beach, a Florida municipal corpo-
ration, has determined that there is a substantial need to obtain
• low-cost funds to finance and refinance the ongoing needs of Atlantic
Beach for capital projects which will enable the City to provide its
citizens with new services and facilities, and to continue to provide
present services and facilities, which are necessary to maintain the
quality of life of the inhabitants of the City of Atlantic Beach and the
State of Florida; and
WHEREAS, by pooling the needs of the City for such funds with the
needs of other municipalities and counties in the State of Florida, a
program can be developed which, due to its economies of scale; will
enable the City to obtain such needed funds at the lowest possible cost
and help to alleviate the burden on the citizens and tax payers of
Atlantic Beach from the cost of providing such necessary services and
facilities; and
WHEREAS, such a pooled municipal and county financing program can
be accomplished by interested municipalities and counties in the State
of Florida joining in an interlocal agreement in substantially the form
now being considered before the City Commission, and pursuant thereto
creating an entity to establish programs on behalf of and as the agent
of the municipalities and counties entering into the interlocal agree-
ment; and
WHEREAS, the City Commission of the City of Atlantic Beach,
Florida, may desire to participate in such a program;
NOW THEREFORE BE IT RESOLVED by the City Commission of the City of
Atlantic Beach, Florida as follows:
Section 1. The proposed pooled municipal and county financing
programs approved and William S. Howell and Claude L. Mullis, the Mayor
and City Attorney, respectively, of the City of Atlantic Beach, are
hereby directed to execute and deliver on behalf of the City of Atlantic
Beach, a signature page in substantially the form attached hereto as
Exhibit 1 , and attach the same as part of composite Exhibit A, to the
interlocal agreement, in order that the City may enter into the interlo-
cal agreement with other participating municipalities and counties in
the State of Florida and participate, to the extent to be hereafter
approved by Resolution, in said pooled financing programs.
Section 2. The City of Atlantic Beach is entering into the
interlocal agreement to more effectively perform its service function
relating to the provision of adequate services and facilities constitut-
ing qualifying capital projects for the inhabitants of the City of
Atlantic Beach.
Section 3. The interlocal agreement shall in no way be inter-
preted to authorize the delegation of the constitutional and statutory
duties of the City of Atlantic Beach or the City Commission, nor in any
way obligate the City of Atlantic Beach for any debt, obligation or
liability, except to the extent as may hereafter be approved through the
execution and delivery of a participation agreement whereby the City
would actually draw down funds from the program to finance or refinance
• the City's capital project needs.
Adopted by the City Commission August 25, 1986
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A, 44/
William S. Howell, Mayor, Presiding Officer
Approved as to Form and Correctness:
i y /
Claude L. Mullis, City Attorney
ATTEST:
Adelaide R. Tucker, City Clerk