To listen to the live meeting proceedings, please refresh this page at the scheduled meeting time, a link labeled "In Progress" will appear under the Audio column

File #: RES 23-008    Version: 1 Name:
Type: Resolution Status: Passed
File created: 1/31/2023 In control: City Council
On agenda: 2/7/2023 Final action: 2/7/2023
Title: Adoption of RESOLUTION 23-008 AUTHORIZING THE ISSUANCE OF ITS CITY OF SANIBEL, FLORIDA TAXABLE LINE OF CREDIT NOTE, SERIES 2023, IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $20,000,000 TO REIMBURSE AND FUND DISASTER RELATED RECOVERY PROJECTS; PROVIDING THAT THE NOTE SHALL BE A LIMITED OBLIGATION OF THE CITY SECURED BY AND PAYABLE FROM NON-AD VALOREM REVENUES BUDGETED, APPROPRIATED AND DEPOSITED AS PROVIDED HEREIN; PROVIDING FOR THE RIGHTS, SECURITIES AND REMEDIES FOR THE OWNER OF THE NOTE; MAKING CERTAIN COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE
Sponsors: Clerk's Office
Attachments: 1. Agenda Memorandum, 2. Resolution 23-008

Title

Adoption of RESOLUTION 23-008 AUTHORIZING THE ISSUANCE OF ITS CITY OF SANIBEL, FLORIDA TAXABLE LINE OF CREDIT NOTE, SERIES 2023, IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $20,000,000 TO REIMBURSE AND FUND DISASTER RELATED RECOVERY PROJECTS; PROVIDING THAT THE NOTE SHALL BE A LIMITED OBLIGATION OF THE CITY SECURED BY AND PAYABLE FROM NON-AD VALOREM REVENUES BUDGETED, APPROPRIATED AND DEPOSITED AS PROVIDED HEREIN; PROVIDING FOR THE RIGHTS, SECURITIES AND REMEDIES FOR THE OWNER OF THE NOTE; MAKING CERTAIN COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE