91-R-54RESOLUTION NO. 91-R-54
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF EDGEWATER, FLORIDA, EXPRESSING SUPPORT FOR
THE ADVISORY PETITION WHICH REQUESTS THAT THE
UNITED STATES CONGRESS INSTRUCT THE UNITED
STATES TREASURY TO CREATE AND ISSUE INTEREST
FREE LOANS TO TAX SUPPORTED BODIES FOR THE
PURPOSE OF FUNDING VOTER -APPROVED CAPITAL
PROJECTS; REPEALING ALL RESOLUTIONS IN
CONFLICT HEREWITH AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City of Edgewater, Florida, from time to time
issues bonds to finance capital projects that are necessary to
ensure the health and welfare of the citizens of the City of
Edgewater; and
WHEREAS, the City Council of the City of Edgewater, Florida,
recognizes the fact that the cost of interest for bonds issued to
fund capital projects is a great burden on the taxpayers of
Edgewater.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EDGEWATER, FLORIDA:
SECTION 1: That it does hereby express its support for the
advisory petition which requests that the United States Congress
instruct the United States Treasury to create and issue interest
free loans to tax -supported bodies for the purpose of funding
voter -approved capital projects.
SECTION 2: That all resolutions or parts of resolutions in
conflict herewith be and the same are hereby repealed.
SECTION 10: That this resolution shall take effect immedi-
ately upon its adoption by the City Council of the City of Edge-
water, Florida, at a Regular meeting of said Council held on
the 28 day of August 1199 1 , and approved as provided by law.
This resolution was introduced and sponsored by councilperson
Cill'spie and was read and passed by a vote of the City Council
of the City of Edgewater, Florida, at a Regular meeting
of said Council held on the 28 day of August
and authenticated as provided by law.
ROLL CALL VOTE ON RESOLUTION NO. 91-R-54 AS FOLLOWS:
Approved for form:
NTERIM CITY ATT NEY
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Res. 91-R-54