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CASSELBERRY CITY COMMISSION Minutes of October 14, 2019 — Regular Meeting Page 13 of 20 MOTION: Commissioner Hufford moved to approve Ordinance 19-1525 on first reading, as presented. Motion was seconded by Commissioner Busch. Motion carried unanimously by voice vote 5-0. C. Ordinance 19-1526 — General Obligation Bond Referendum Election for Parks and Recreational Facilities The City Clerk read Ordinance 19-1526 by title, as follows: "AN ORDINANCE OF THE CITY OF CASSELBERRY, FLORIDA, ORDERING AND CALLING FOR A BOND REFERENDUM ELECTION TO BE HELD ON MARCH 17, 2020 IN THE CITY OF CASSELBERRY, FLORIDA, TO DETERMINE IF THE QUALIFIED ELECTORS RESIDING IN THE CITY APPROVE THE CITY'S ISSUANCE OF GENERAL OBLIGATION BONDS WHICH SHALL MATURE NOT LATER THAN TWENTY (20) YEARS FROM THEIR DATE OF ISSUANCE IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING $24,000,000.00, PAYABLE FROM AD VALOREM TAXES, LEVIED IN AMOUNTS SUFFICIENT TO PAY DEBT SERVICE ON SUCH BONDS, ON ALL TAXABLE PROPERTY WITHIN THE CITY, TO FINANCE COSTS RELATING TO THE RENOVATION, IMPROVEMENT AND CONSTRUCTION OF PARKS AND RECREATION FACILITIES, INCLUDING RENOVATION, EXPANSION AND REPLACEMENT OF BUILDINGS, ATHLETIC VENUES, AND OTHER PARK IMPROVEMENTS; PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE." Staff Presentation: City Clerk Donna Gardner stated that Ordinance 19-1526 calls for a bond referendum election to be held to approve the City's issuance of general obligation bonds which shall mature not later than 20 years from their date of issuance in an aggregate principal amount of $24,000,000.00, payable from ad valorem taxes to finance costs relating to the renovation, improvement and construction of parks and recreation facilities, including renovation, expansion and replacement of buildings, athletic venues, and other park improvements. At its July 15, 2019 regular meeting, the City Commission agreed to move forward with a General Obligation Bond Referendum Election for various parks and recreational improvements, and on September 9, 2019 agreed by consensus that the General Obligation Bond Referendum Election for Parks and Recreational Facilities be held in conjunction with the Presidential Preference Primary on March 17, 2010. City Attorney Katie Reischmann gave an overview of the process from this point should the City Commission pass Ordinance 19-1526 on first reading, and she and City Clerk Donna Gardner provided information as to the statutory requirements and timeline for advertising for the referendum election, Mayor's Proclamation, notification to the public, and provision of information to the public as to the proposed projects to be funded. Ms. Gardner noted that since the referendum election was to be held in conjunction with the Presidential Preference Primary on March 17, 2020, the City's timeframe for advertising of notices and passage of Ordinance 19-1526 must meet both statutory requirements and coincide with deadlines for the Presidential Preference Primary. Therefore, if approved on first reading at tonight's meeting, the ordinance would be brought back for second reading and adoption at the City Commission's only meeting in November which would be November 18".