06-26
RESOLUTION NO. 06-26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA, APPROVING AND AUTHORIZING THE
WITHDRAWAL FROM THE FIRST FLORIDA GOVERNMENTAL
FINANCING COMMISSION; PROVIDING FOR THE READING OF
THIS RESOLUTION BY TITLE ONLY; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City of Clearwater, Florida, is a member of the First Florida
Governmental Financing Commission, a separate legal entity and public body corporate
and politic authorized by Chapter 163, Part 1, Florida Statutes (the "Commission"), created
by an Interlocal Agreement between the City of St. Petersburg, Florida; the City of
Sarasota, Florida; and Manatee County, Florida, dated as of November 26, 1985, as
amended from time to time (the "Interlocal Agreement"); and
WHEREAS, all of the current members of the Commission are Broward County,
Florida; the City of Boca Raton, Florida; the City of Sarasota, Florida; the City of
Gainesville, Florida; the City of St. Petersburg, Florida; the City of Clearwater, Florida; and
the City of Hollywood, Florida; and
WHEREAS,. the Commission is authorized to issue revenue bonds for the purpose
of financing or refinancing qualifying projects and to administer a limited interlocal
governmental loan program (the "Program") which will provide funds for such projects; and
WHEREAS, the City of Clearwater has no loans outstanding under the terms of the
Program as defined in the Interlocal Agreement; and
WHEREAS, the City of Clearwater desires to withdraw from the Program; and
WHEREAS, Section 3.10 of the Interlocal Agreement provides as follows:
(a) Any participating governmental Unit may withdraw from the
Commission at any time, if the following conditions are
satisfied: (i) the respective Governmental Unit has no loans
outstanding under the terms of the Program; and (ii) a certified
resolution from the participating Governmental Unit's governing
body setting forth its intent to withdraw from the program [is]
presented to the Commission.
(b) Upon satisfaction of the above conditions, such withdrawal
shall be effective immediately.
NOW, THEREFORE, be it resolved by the City Council of the City of Clearwater,
Florida:
Resolution 06-26
Section 1. Pursuant to Section 3.10 of the Interlocal Agreement, the City of
Clearwater hereby respectfully withdraws its membership from the First Florida
Governmental Financing Commission.
Section 2. The appropriate officers of the City are authorized and directed
to furnish a certified copy of this resolution to the First Florida Governmental Financing
Commission with the request that the Commission acknowledge its receipt and the fact
that the City has withdrawn its membership, in good standing.
Section 3. This resolution may be read by title and shall take effect
immediately upon adoption.
PASSED AND ADOPTED this 20th day of April
,2006.
CITY OF CLEARWATER, FLORIDA
-:f~. r: J:I-;I'~
-Ffank V. Hibbard ' .
Mayor
APpr~. ed as to form:
tiJ
Pamela K. Akin
City Attorney
Resolution 06-26