HomeMy Public PortalAbout1992-19 Authorizing the incurring of indebtedness in an amount not to exceed $1,000,000ORDINANCE NO. /..k /Y
AN EMERGENCY ORDINANCE OF THE VILLAGE OF KEY
BISCAYNE, FLORIDA; AUTHORIZING THE INCURRING
OF INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED
$1,000,000.00; PROVIDING FOR THE APPROVAL OF
THE SPECIFIC TERMS AND CONDITIONS OF SUCH
INDEBTEDNESS BY RESOLUTION ADOPTED BY THE
BOARD OF TRUSTEES; PROVIDING FOR REPAYMENT OF
SAID INDEBTEDNESS FROM AVAILABLE MUNICIPAL
REVENUES; PROVIDING FOR THE EXECUTION OF
DOCUMENTS; AUTHORIZING FURTHER OFFICIAL
ACTION; SPECIFYING GOVERNING LAW; PROVIDING
FOR SEVERABILITY AND AN EFFECTIVE DATE.
WHEREAS, Article 8, Section 2(b) of the Constitution of the
State of Florida grants to municipalities such governmental,
corporate and proprietary powers as are necessary in order to
enable them to conduct municipal government, perform municipal
functions, and render municipal services; and
WHEREAS, Section 166.021(4), Florida Statutes 1990, grants to
municipalities all powers not expressly prohibited by the
Constitution, general or special law, or County Charter; and
WHEREAS, Section 4.03(6) of the Charter of the Village of Key
Biscayne provides that the Village Board of Trustees may by
ordinance borrow money; and
WHEREAS, the Village is in need of emergency interim funds to
pay for various municipal expenses created as a result of Hurricane
Andrew until such time as it begins to receive revenues from
various sources,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
VILLAGE OF KEY BISCAYNE, FLORIDA, AS FOLLOWS:
Section 1. Authorization. The Village is hereby authorized
to incur indebtedness in an amount up to $1,000,000.00 to pay for
various municipal expenses and services, including those
expenditures for services made necessary as a result of Hurricane
Andrew, on an interim basis.
Section 2. Terms of Indebtedness. The interest rate, terms,
maturity and other details of such indebtedness are subject to
approval by this Board by subsequent resolution.
Section 3. Repayment. Such indebtedness shall be repaid by
the Village through taxes, fees, federal reimbursement monies and
other revenues received by the Village.
Section 4. Execution of Documents. The documents evidencing
such indebtedness shall be executed in the name of the Village by
the Mayor and shall be approved as to form and correctness by the
Village Attorney.
Section 5. Further Official Action. The Mayor, Vice Mayor,
Village Manager and Village Attorney are hereby authorized,
empowered and directed to execute and deliver such other documents
and take other such actions which shall be necessary and
appropriate to incur the indebtedness.
Section 6. Governing Law. The provisions of this ordinance
shall be construed and enforced in accordance with the laws of the
State of Florida.
Section 7. Severabilitv. The provisions of this Ordinance
are declared to be severable and if any section, sentence, clause
or phrase of this Ordinance shall for any reason be held to be
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invalid or unconstitutional, such decision shall not affect the
validity of the remaining sections, sentences, clauses, and phrases
of this Ordinance but they shall remain in effect, it being the
legislative intent that this Ordinance shall stand notwithstanding
the invalidity of any part.
Section 8. Effective Date. This Ordinance shall be effective
upon adoption.
PASSED AND ADOPTED this
ATTEST:
VILLAGE CLERK
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
VIL AGE ATTORNEY
day of &?-I if bAE/ , 1992.
V
RAFAEL:H. CONTE, MAYOR