TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: An Ordinance of the City of North Port, Florida, Calling for a Referendum Question to be Placed Before the Qualified Electors of the City of North Port, Florida at the November 5, 2024 General Election; Providing a Referendum Question Determining Whether to Amend the City Charter to Authorize the City Commission to issue Debt in Certain Circumstances Without Prior Voter Approval; Providing for the Full Text of the Proposed Charter Amendment; Providing Findings; Providing for an Effective Date for the New Charter Language if the Proposed Charter Amendment is Approved; Providing for the Filing of the Ordinance with the Sarasota County Supervisor of Elections; Providing for Publication of the Text of the Proposed Charter Amendment; Providing for Filing with the Florida Department of State if the Proposed Charter Amendment is Approved; Providing for Conflicts; Providing for Severability; and Providing an Effective Date.
Recommended Action
Continue Ordinance No. 2024-07 to second reading on July 23, 2024.
Background Information
During a Special Commission Meeting on June 26, 2024, the City's Bond Counsel and Financial Advisor participated in the discussion on proposed charter options. During this meeting the City Commission approved the following motions to:
> Direct staff to insert referendum language establishing a $15 million principal cap per non-emergency project.
> Direct staff to include language proposed by Mr. Miller, Bond Counsel, clarifying that debt service would be payable from funds other than property taxes.
> Direct the City Attorney to include language to the Charter ordinance that the issuance of non-emergency debt cannot be conducted using an emergency ordinance.
> Include Charter language to state the Debt Management Policy will be adopted by Commission via Resolution with two readings.
Proposed Ordinance 2024-07 reflect...
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