TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Discussion and Possible Direction on Potential Referendum Language to Amend Section 1.02(b) of the Charter of the City of North Port Related to the City's Authority to Issue General Obligation and Revenue Bonds.
Recommended Action
Discussion and possible direction to provide direction to staff in the development of referendum language to amend the Section 1.02 (B) of the Charter of the City of North Port related to the City's authority to Issue General Obligation and Revenue Bonds.
Background Information
The following provides a chronological order of events regarding referendum language to amend Article I - Creation, Powers, and Construction; Section 1.02 - Powers (b) of the North Port City Charter related to the City's authority to issue debt:
> November 8, 2022: During the City Commission Regular Meeting, the Commission directed staff to start process of reviewing discussion regarding a referendum that would go out in the next election cycle to change the Charter to allow the City to issue general obligations or revenue bonds in the future.
> December 4, 2023: During the City Commission Workshop, the Commission provided the following consensus:
* There was 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.
> December 20, 2023: During the Charter Review Advisory Board Meeting, the Charter Review Advisory Board reviewed the proposed amendments to the Charter's requirements. The following action was taken:
* To recommend to City Commission approval of Option 1 stating that the Commission may authorize debt for Declared Local, State, or Federal Emergency and/or Public Health and Safety to include response to regulatory agency, infrastructure, including roads, bridges, water control structures, sanitation,...
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