Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 26-R47, a Resolution of the City Council of the City of Port St. Lucie, Florida, Authorizing the Issuance by the City of Port St. Lucie, Florida of Not Exceeding $85,000,000 in Aggregate Principal Amount of its City of Port St. Lucie, Florida Special Obligation Revenue Bonds, Series 2026A to Finance Various Costs Related to the SE Floresta Drive Roadway Capital Improvements, the Public Works Building Project and the Paar Roundabouts Project; Covenanting to Budget and Appropriate Legally Available Non-Ad-Valorem Revenues to Pay Debt Service on the Bonds; Providing for the Rights of the Holders of Said Bonds; Making Certain Other Covenants and Agreements in Connection with Such Bonds; Authorizing a Negotiated Sale of Said Bonds; Delegating Certain Authority to the City Manager for the Authorization, Execution and Delivery of a Bond Purchase Agreement with Respect Thereto, and the Approval of the Terms and Details of Said Bonds; Establishing a Book-Entry Registration System for Such Bonds; Appointing the Paying Agent and Registrar for Said Bonds; Authorizing the Distribution Of a Preliminary Official Statement and the Execution and Delivery of an Official Statement with Respect to Such Bonds; Authorizing the Execution and Delivery of a Continuing Disclosure Certificate; and Providing for an Effective Date for this Resolution.
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Submitted By: Stephen Okiye, Finance Director, Finance Department.
Strategic Plan Link: The City's Mission to utilize fiscal responsibility.
Executive Summary (General Business): Staff recommends the City of Port St. Lucie, Florida issue Special Obligation Revenue Bonds, Series 2026A for the principal purpose of providing funding for the SE Floresta Drive Roadway Improvements, Public Works Building, and Paar Roundabout projects.
Presentation Information: Staff will be available for questions.
Staff Recommendation: Move that the Council approve Resolution 26...
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