TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Discussion and Possible Action Regarding Charter Amendment Language Related to the City's Bonding Authority.
Recommended Action
Discussion and possible action regarding charter amendment language related to the City's bonding authority.
Background Information
The following provides a timeline of Commission actions taken to date:
> April 23, 2024, Commission Special Meeting, the City's Bond Counsel and Financial Advisor participated in the discussion on proposed charter options as requested. Based on information available at the time, staff provided recommendations for Charter amendment language, including a proposed cap within the referendum language. Commission approved a motion to:
* Direct the City Manager to work with staff to bring back language for a charter amendment to allow the City borrowing authority in time for the November election.
> March 26, 2024, Commission Regular Meeting, Commission approved a motion to:
* Direct the City Manager to work with staff to meet with bond counsel and other external subject matter experts in order to have discussion with possible action on how to structure the payment of the Police Department Headquarters.
> February 26, 2024, Commission Workshop, Commission provided consensus to:
* Direct staff to review permissive referendums and/or send to the Charter Review Advisory Board for review, with legal review being provided to Commission.
* Direct staff to look into the possibility of an August referendum.
* Direct staff to update the draft language to include who is giving the authority to issue permissible debt.
> December 4, 2023, Commission Workshop, Commission provided consensus to:
* Direct the City Attorney and City Manager to come back with a proposed Charter amendment based on Option 1 with consideration of some caps for Commission review.
Staff conducted additional res...
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