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CASSELBERRY CITY COMMISSION Minutes of November 18, 2019 — Regular Meeting Page 13 of 18 Budget Impact: Before debt is authorized, City Commission will be asked for its approval by resolution. If approved, debt is expected to be issued at the City Commission meeting scheduled for December 9, 2019. Budget impact will be recognized at that time. Recommendation: The City Manager and the Finance Director recommended adoption of Ordinance 19- 1525 on second and final reading. Public Hearing: Mayor Glancy stated this was a public hearing to hear and consider comments and questions regarding Ordinance 19-1525. Mayor Glancy opened the floor for public participation. No one came forward to address Ordinance 19-1525. Mayor Glancy closed the public hearing relative to Ordinance 19-1525. MOTION: Commissioner Hufford moved to adopt Ordinance 19-1525 on second and final reading, as presented. Motion was seconded by Commissioner Busch. Motion carried unanimously by voice vote 5-0. C. Second Reading of 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 RENOVATE, IMPROVE, AND CONSTRUCT PARKS AND RECREATION FACILITIES, INCLUDING RENOVATION, EXPANSION AND REPLACEMENT OF BUILDINGS, ATHLETIC VENUES, AND OTHER PARK IMPROVEMENTS; PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE." Notice of Public Hearing: The Notice of Public Hearing relative to second reading of Ordinance 19-1526 was advertised in the Orlando Sentinel on Thursday, November 7, 2019. 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 twenty (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 at some or all of the following parks: Dew Drop Park, Lake Concord Park/Art House Expansion, Secret Lake Park, Sunnytown Park, proposed new park (working title of "Wheel Park-