ORDINANCE NO. 2012-026
CITY OF DANIA BEACH
Agenda Request Item
Type of Request: Adopt Ordinance First Reading
(Adopt Resolution, Adopt Ordinance (1st Reading) Adopt Ordinance (2nd Reading)
Award Bid /RFP, Presentation, Public Hearing)
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Requested Action (Identify appropriate Action or Motion) |
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Adopt Ordinance, First Reading |
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Description of Action |
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Favorable interest rates offer the City an opportunity to realize a savings of over $300,000 to taxpayers by refinancing the existing Sales Tax Revenue Bonds. In compliance with City Charter, approval to expend/exchange more than $1 million on this loan refinancing calls for an Ordinance and super-majority approval of the City Commission. |
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Purchasing Requests ONLY |
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Fund: (Select from: General, Water, Sewer, Stormwater, Grants, Capital) |
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Fiscal Impact/Cost Summary |
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This refinancing is expected to save more than $300,000 in interest costs to the City and taxpayers. |
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Exhibits Attached |
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Memo, Ordinance, Financial Advisor refinance summary memo |
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