Fort Walton Beach Resolution — 84-65-Oppose Validation Bond by RDA — reading text

! we aauer Fa City of Fort Walton Beach Resolution 4-65 A RESOLUTION CLARIFYING THE AUTHORITY OF THE REDEVELOPMENT AGENCY TO ISSUE REDEVELOPMENT REVENUE BONDS AND AUTHORIZING THE CITY ATTORNEY TO OPPOSE VALIDATION. WHEREAS, the City of Fort Walton Beach, hereafter called "City", created the Fort Walton Beach Redevelopment Agency, hereafter called the "Agency", under the authority of Chapter 163, Part III, Florida Statutes, and WHEREAS, the City caused to be prepared and properly adopted a Redevelopment Plan, herein after called "Plan", and WHEREAS, there has developed some confusion as to whether the adoption of the Plan by the City was a consent for the Agency to issue bonds without affirmative action by the City as provided in Sec. 163.356, Florida Statutes, and WHEREAS, the Agency has adopted Resolution No. 84-10 providing for the issuance of $3,500,000 Redevelopment Revenue Bonds, hereafter called "Bonds", for the alleged purpose of financing the cost of certain projects in the downtown area of the City, and WHEREAS, the City was not consulted concerning the issuance of such bonds, has not approved the issuance of such bonds and in fact disapproves of the issuance of such bonds. HOME OF THE Cm Seo LITHO BY VITRO PRESS NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH THAT: 1. The City, by the adoption of this resolution does hereby clarify its resolved that the adoption of the Plan did not authorize the Agency to issue redevelopment revenue bonds. 2. The City does, by this resolution , disapprove of the Agency's Resolution No. 84-10 which provides for the issuance of $3,500,000 Redevelopment Revenue Bonds. 3. The City Attorney is instructed to intervene in the validation proceeding now pending in Circuit Court on behalf of the City in opposition to such validation. 4. This Resolution shall take effect immediately upon approval by Council and signature by the Mayor. ADOPTED: Wreember 10, 17 84 won kta i aphig ATTEST: hha. b! hero CITY CLERK v The form and legal sufficiency of the foregoing has been reviewed and approved by the City Attorney. rr JAMES E. } 1, Helen Spencer, duly appointed City Clerk of the City of Fort Walton Beach, Florida, do hereby certify that the above resolution is a true and correct copy of Resolution 84-65 approved by the City Council December 10, 1984 at a meeting December 10, 1984 and on file at City Hall. "HELEN SPENCER/ CITY CLERK