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Home My Public Portal About2001-08 Amending the Village Charter Legislative re BorrowingORDINANCE NO. 2001-8 AN ORDINANCE OF THE VILLAGE OF KEY BISCAYNE, FLORIDA, PROVIDING FOR PROPOSED AMENDMENT OF THE VILLAGE CHARTER, BY AMENDING ARTICLE IV "LEGISLATIVE" BY AMENDING SECTION 4.10 "BORROWING," TO DELETE REQUIREMENT THAT THE VILLAGE COUNCIL SHALL BY ORDINANCE LIMIT THE INDEBTEDNESS OF THE VILLAGE, AND INSTEAD TO PROVIDE FOR SPECIFIC DEBT LIMIT RESTRICTIONS TO BE SET FORTH WITHIN SECTION 4.10, INCLUDING PROVISIONS CONCERNING DEBT APPROVAL, LIMITS ON DEBT, AND PROVIDING DEFINITIONS CONCERNING DEBT; PROVIDING REQUISITE BALLOT LANGUAGE FOR SUBMISSION TO THE ELECTORS; CALLING A SPECIAL ELECTION ON THE PROPOSED AMENDMENT TO THE VILLAGE CHARTER; PROVIDING FOR NOTICE OF ELECTION; PROVIDING FOR INCLUSION IN THE CHARTER; PROVIDING FOR EFFECTIVE DATE. WHEREAS, certain residents (the "Petitioners") of the Village of Key Biscayne ("the Village") have filed a petition to amend the Village Charter (the "Debt Limit Petition"); and WHEREAS, the Village Council has upheld the Village Clerk's Certificate of Insufficiency, but has determined, to place the proposed Charter amendment sought in the Debt Limit Petition before the electors in the form provided herein, pursuant to the authority of Charter Section 6.02 (a)(I), pursuant to which this Council is authorized to itself initiate Charter amendments and submit the Charter amendments to the electors; and NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF THE VILLAGE OF KEY BISCAYNE, FLORIDA, AS FOLLOWS: Section 1. Recitals Adopted. That the recitals made above are hereby confirmed and adopted. Section 2. Charter Amendment. That pursuant to Section 6.02(a)(I) of the Charter, Article IV "Legislative" of the Village Charter is hereby amended by amending Section 4.10 "Borrowing" to read as follows:' Section 4.10. Borrowing. (a) Debt Approval. The Village shall incur no d Debt unless the incurrence of such d Debt is approved by at least five (5) Council Members. (b) Limits. The total Debt of the Village. including amounts authorized but still not drawn down under existing loan agreements and other contractual arrangements with banks and other financial institutions. underwriters, brokers and/or intermediaries. shall not exceed the greater of: i. one percent (1%) of the total 4ssessed value of all property within the Village. as certified by the Miami -Dade County Property Appraiser for the current fiscal year: or ii. that amount which would cause annual Debt Service to equal fifteen percent (15%) of General Fund expenditures for the previous fiscal year. (c) "Definitions. As used in this Section 4.10 the following terms shall have the meanings ascribed to them in this subsection. i. "Debt" means any obligation of the Village to repay borrowed money however evidenced since the date of its incorporation regardless of tenor or term for which it was originally contracted or subsequently converted through refinancing or novation. except (A) any obligation required to be repaid in less than a year and which was incurred solely for emergency relief of natural disasters. or (B) that portion of any obligation for operations which are financed and operated in an independent. self- liquidating manner and recovered entirely through currently collected user fees and charges. ii. "Debt Service" shall include. without limitation thereto. scheduled interest payments. repayments of principal and all financial fees arising from Debi or from the underlying contractual obligations. whether as originally incurred or subsequently deferred or otherwise renegotiated. iii. "General Fund" shall mean any and all revenues of the Village. from whatever source derived. except those revenues derived from special assessments. user fees and charges and designated as a separate fund to finance goods and services to the public. 1 / Proposed additions to Charter text are indicated by underline; proposed deletions from existing Charter text are indicated by Nil ;k li'vuglr. 2 Section 3. Election Called. That a special election is hereby called for on Tuesday, the 4th day of December, 2001, to present to the electors of the Village of Key Biscayne the ballot question provided in Section 4 of this Ordinance. Section 4. Form of Ballot. That the form of ballot for the Charter amendment provided for in Section 2 of this Ordinance shall be substantially as follows: "LIMIT UPON VILLAGE DEBT The existing Village Charter requires that the Village Council limit the indebtedness of the Village through enactment of an Ordinance. This requirement has been implemented by enactment of Village Code Section 25-1, et. seq. It is proposed that the Charter be amended to set forth within its text, specific debt limits and a detailed definition of debt which includes all debt, regardless of term. Shall the above described Charter amendment be adopted? Yes [ No [ The form of the ballot may be revised by Resolution of the Village Council. Section 5. Balloting. That balloting shall be conducted between the hours of 7:00 a.m. until 7:00 p.m. at the regular polling places for Village elections. All qualified electors residing within the Village who are timely registered shall be entitled to vote. Section 6. Notice of Election. That notice of said election shall be published in accordance with Section 100.342, Florida Statutes, in a newspaper of general circulation within the Village at least 30 days prior to said election, the first publication to be in the fifth week prior to the election, and the second publication to be in the third week prior to the election, and shall be in substantially 3 the following form:2 NOTICE OF SPECIAL ELECTION PUBLIC NOTICE IS HEREBY GIVEN THAT PURSUANT TO ORDINANCE NO. ADOPTED BY THE VILLAGE COUNCIL OF THE VILLAGE OF KEY BISCAYNE, FLORIDA, (THE "VILLAGE") AN ELECTION HAS BEEN CALLED AND ORDERED TO BE HELD WITHIN THE VILLAGE ON TUESDAY, DECEMBER 4, 2001, BETWEEN THE HOURS OF 7:00 A.M. AND 7:00 P.M., AT WHICH TIME THE FOLLOWING PROPOSITION SHALL BE SUBMITTED TO THE QUALIFIED ELECTORS OF THE VILLAGE. "Ll IIT UPON VILLAGE DEBT The existing Village Charter requires that the Village Council limit the indebtedness of the Village through enactment of an Ordinance. This requirement has been implemented by enactment of Village Code Section 25- 1, et. seq. It is proposed that the Charter be amended to set forth within its text, specific debt limits and a detailed definition of debt which includes all debt, regardless of term. Shall the above described Charter Amendment be adopted? Yes[ ] No [ J" Polling place information and the full text of the proposed Village Charter amendment is available at the office of the Village Clerk located at 85 West McIntyre Street, Key Biscayne, Florida 33149. Section 7. Copies. That copies of this Ordinance proposing the Charter amendment are on file in the office of the Village Clerk located at 85 West McIntyre Street, Key Biscayne, Florida, 33149, and are available for public inspection during regular business hours. Section 8. Effectiveness. That this Charter amendment shall become effective if a majority of the qualified electors voting on the proposed Charter amendment vote for its adoption, and shall 2/ The form of the Notice of Special Election may be revised by the Village Clerk to include any other Charter amendments to be voted upon at the same election. 4 be considered adopted and effective upon certification of the election results. Section 9. Inclusion in the Charter. Subject to the requirements of Section 8 above, it is the intention of the Village Council, and it is hereby ordained that the provisions of this Ordinance shall become and be made a part of the Charter of the Village of Key Biscayne; that the sections of this Ordinance may be re -numbered or re -lettered to accomplish such intention; and that the word "Ordinance" shall be changed to "Section" or other appropriate word. Section 10. Effective Date of Ordinance. That this Ordinance shall become effective upon adoption on second reading. PASSED AND ADOPTED on first reading this 12th day of September, 2001. PASSED AND ADOPTED on second reading this 19th day of September, 2001. CONCHITA H. ALVAREZ, CMC, VILLAGE C APPROVED AS TO FORM AND LEGAL S f 1 RICHARD JAY WEISS, VILLAGE ATTORNEY 103001\ordinances\debt limit restrictions 5 MAYOR JOE I. RASCO MIAMI DAILY BUSINESS REVIEW Published Daily except Saturday, Sunday and Legal Holidays Miami, Miami -Dade County, Florida STATE OF FLORIDA COUNTY OF MIAMI-DADE: Before the undersigned authority personally appeared SOOKIE WILLIAMS, who on oath says that she is the VICE PRESIuENT, Legal Notices of the Miami Daily Business Review f/k/a Miami Review, a daily (except Saturday, Sunday and Legal Holidays) newspaper, published at Miami in Miami -Dade County, Florida; that the attached copy of advertisement, being a Legal Advertisement of Notice in the matter of VILLAGE OF KEY BISCAYNE ORDINANCE AMENDING ARTICLE IV ETC. in the XXXX Court, was published in saia newspaper in the issues of 09/07/2001 Affiant further says that the said Miami Daily Business Review is a newspaper published at Miami in said Miami -Dade County, Florida and that the said newspaper has heretofore been continuously published in said Miami -Dade County, Florida, each day (except Saturday, Sunday and Legal Holidays) and has been entered as second class mail matter at the post office in Miami in said Miami -Dade County. Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that she l:tl" e pa:d 1.c-4 .i;or,-.Ised i.ry per. on fi;!:. o.' poiperat:cr. unt, rebate, commission or refund for the purpose ng this advertisement for publication in the said aper. and subscrib-• •efore me this EP (SEAL) ';Y' •'!Je itiARIA I. MESA SOOKIE WILLIAMS personal "acrd �r 'I of rfM COMMISSION # CC 885640 ,N...l EXPIRES March 4, 2004 ' of -•', Bonded Thru Notary Public Underwriters • . 2001 VILLAGE OF KEY BISCAYNE OFFICE OF THE VILLAGE CLERK PUBLIC NOTICE The Village of Key Biscayne -proposes to adopt the following Ordi- nance: AN ORDINANCE OF THE VILLAGE OF KEY BISCAYNE, FLORIDA, PROVIDING FOR PROPOSED AMENDMENT OF THE VILLAGE CHARTER, BY AMENDING ARTICLE IV "LEGISLATIVE" BY AMENDING SECTION 4.10 "BORROW- ING," TO DELETE REQUIREMENT THAT THE VILLAGE COUNCIL SHALL BY ORDINANCE LIMIT THE INDEBTED- NESS OF THE VILLAGE, AND INSTEAD TO PROVIDE FOR SPECIFIC DEBT LIMIT, RESTRICTIONS TO BE SET FORTH WITHIN SECTION 4.10, INCLUDING PROVISIONS CON- CERNING DEBT APPROVAL, LIMITS ON DEBT, AND PRO- VIDING DEFINITIONS CONCERNING DEBT; PROVIDING REQUISITE BALLOT LANGUAGE FOR SUBMISSION TO THE ELECTORS; CALLING A SPECIAL ELECTION ON THE PRO- POSED AMENDMENT TO THE VILLAGE CHARTER; PROVID- ING FOR NOTICE OF ELECTION; PROVIDING FOR INCLU- SION IN THE CHARTER; PROVIDING FOR EFFECTIVE DATE. A Public Hearing on the first reading of this proposed Ordinance has been scheduled by the Village Council for Tuesday, September 11, 2001 at 7:00 p.m. In the Village Council Chamber on the second floor at 85 West McIntyre Street, Key Biscayne, Florida and the Public Hearing on the second reading of this Ordinances"has been scheduled by the Village Council for Wednesday,- September 19, 2001 at 7:00 p.m. in the Village Council Chamber on the second floor at 85West McIntyre Street, Key Bi- scayne, Florida. ' in accordance with the Americans With Disabilities Act of 1990, all per- sons who are disabled, and who need special accommodations to partici- pate in this proceeding because of that disability should contact the Office of the Village Clerk, 91 West McIntyre Street, Suite 203, Key Biscayne, Florida 33149, telephone number (305) 365-5506, not later than two busi- ness days prior to such proceeding. Interested parties are invited to appear and be heard. A copy of the pro- posed ordinance may be obtained at,VOlage Haft, Office of the Village Clerk, 85 West McIntyre Street, Key,Bisaaynel, Florida 33149. Should any person desire to appeal arty decision of the Visage Council with respect to any matter to be considered at this meeting, that person shall insure that a verbatim•recordof the proceedings is made inducting all testimony and evidentt upon which any appeal may be based (F.S. 288.0105). + x • 9/7 Conahiia H. Alvarez,' CMC Wage Clerk 01-4-85/195480M