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CASSELBERRY CITY COMMISSION Minutes of August 10, 2015 — Regular Meeting Page 11 of 15 Staff Presentation: Finance Director Rebecca Bowman explained that, if approved, Ordinance 15 -1428 would authorize the issuance of infrastructure surtax bonds in an amount not to exceed $9,894,000. She reminded the Commission that an additional one penny sales tax had been approved by referendum in 2014, and in January of 2015 the City had begun receiving revenues from the tax. She added that there was an interlocal agreement between Seminole County, the cities within the county and the School Board which listed capital projects to be undertaken using the tax revenues as a funding source. She advised that the City had submitted its list, and that Ordinance 15 -1428 would allow the Commission, should it so choose, to do a debt issuance to advance those projects through advance funding of the revenue source of the infrastructure surtax money. Mr. Newlon andMs. Bowman clarified that Ordinance 15 -1428 would not actually approve the issuance of the bonds, but wouldsimply empower the Commission to take that action at a future time if desired. Budget Impact: The approval of Ordinance 15 -1428 providing authorization for the City to issue infrastructure surtax bonds has no impact on the City Budget. Recommendation: The City Manager and the Finance Director recommended approval of Ordinance 15 -1428 on first reading. Audience Participation: The following individuals came forward to address Ordinance 15 -1428: Mr. John Casselberry, 700 South Lost Lake Lane expressed some concerns about the proposed amount of the bond issuance, and suggested that the City should not spend funds on projectstoo far in advance of receipt of the tax revenues. No one else came forward. MOTION: Vice Mayor Solomon moved to approve Ordinance 15 -1428 on first reading, as presented. Motion was seconded by Commissioner Hufford. Motion carried unanimously by voice vote 5 -0. 11. PUBLIC HEARINGS A. Resolution 15 -2759 — Partial Vacation of a Utility Easement at 46 Carriage Hill Circle The City Clerk read Resolution 15 -2759 by title as follows: "A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, RELATING TO THE PARTIAL VACATION OF A UTILITY EASEMENT AT 46 CARRIAGE HILLDRIVF, CASSELBERRY, FL 32707; PROVIDING FOR CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE." Notice of Public Hearing: The Notice of Public Hearing for Resolution 15 -2759 was published in the Orlando Sentinel on Thursday, July 30, 2015.