03-21-2017 - SpecialCiiy aF
I
DGIET TER
Tuesday, March 21, 2017
City of Edgewater
Meeting Agenda
City Council - Special Meeting
6:00 PM
GO for Parks
104 N. Riverside Drive
Edgewater, FL 32132
Council Chambers
We respectfully request that all electronic devices arc set for no audible notification.
1. CALL TO ORDER, ROLL CALL
2. OTHER BUSINESS
a. RFP #17 -FI -006 Go for Parks Series 2017 General Obligation Note Bank Selection
Attachments: Edgewater FL - General Obligation Note Series 2017 - (Draft Recommenda...
Ameris Bank
City National Bank
Bond Election Results 4-4-16
3. ADJOURN
Pursuant to Chapter 286, F.S., if an individual decides to appeal any decision made with respect to any
matter considered at a meeting or hearing, that individual will need a record of the proceedings and
will need to ensure that a verbatim record of the proceedings is made. The City does not prepare or
provide such record.
In accordance with the Americans with Disabilities Act, persons needing assistance to participate in
any of these proceedings should contact City Clerk/Paralegal Robin L. Matusick, 104 N. Riverside
Drive, Edgewater Florida, telephone number 386-424-2400 x 1102, S days prior to the meeting date.
If you are hearing or voice impaired, contact the relay operator at 1-800-955-8771.
City of Edgewater Page 1 Printed on 311 712 01 7
File #: AR -2017-2431, Version: 1
City of Edgewater
Legislation Text
COUNCIL AGENDA ITEM
SUBJECT:
RFP 917 -FI -006 Go for Parks Series 2017 General Obligation Note Bank Selection
DEPARTMENT:
Finance
104 N. Riverside Drive
Edgewater, FL 32132
SUMMARY:
The purpose of this Request for Proposal (RFP) was to identify the institution that can provide the City of
Edgewater, Florida with a loan in a not to exceed amount of $3,500,000. The proceeds of the Loan will be used
to provide financing for the construction, expansion and renovation of City recreational areas, facilities and
parks including walking trails, playgrounds, skate and splash parks. A debt referendum of the qualified electors
residing in the City of Edgewater was called and ordered to be held on March 15, 2016. The electors voted
2,599 For the Bonds and 1,861 Against the Bonds, with certification attached.
The City received four bids prior to the 3:00 pm opening on March 13 with the bid opening complete at 3:03
pm. Per Policy these are our responsive bids.
1. Ameris Bank
2. Capital One Bank
3. City National Bank
4. Sterling National Bank
The City received a bid after the bid opening. Per Policy this is a non-responsive bid.
All submittals were reviewed by Hilltop Securities Inc., our Financial advisors, and both responsive bids met
the requirements of the RFP, interest rate locked in full the full 19.25 years and both banks were willing to hold
these interest rates through the anticipated closing date of April 5, 2017. The Ameris proposal had the lowest
interest rate, provided for the ability to prepay the loan at any time without penalty and provided for level
annual principal and interest payments. Based upon Hilltops review of the proposals thy feel the Ameris Bank
proposal has the overall lowest interest rate and the most flexibility to the City. Their proposal also met the
other requirements and criteria as specified in the RFP. As part of this review process the Ameris Bank proposal
was also reviewed by City Staff and its Bond Counsel (Broad and Cassel). Therefore it is Hilltop
recommendation that the City Council select Ameris Bank proposal for the proposed Series 2017 General
Obligation Note.
BUDGETED ITEM: ® Yes ❑ No ❑ Not Applicable
BUDGET AMENDMENT REQUIRED: ® Yes ❑ No ❑ Not Applicable
City of Edgewater Pagel of 2 Printed on 3/16/2017
powered by LegistarTM
File #: AR -2017-2431, Version: 1
RECOMMENDED ACTION:
Motion to approve the bank selection of Ameris Bank for the proposed Series 2017 General Obligation Note as
recommended by Hilltop Securities Inc.
City of Edgewater Page 2 of 2 Printed on 3/16/2017
powered by LegistarTM
FirstSouthwest Memorandum
A Division of Hilltop Securities.
Mark P. Galvin
Director
Date: March 13, 2017
To: Mr. Jonathan C. McKinney, CGFO,
Assistant City Manager / Finance Director
Subject: City of Edgewater, Florida
Series 2017 General Oblieation Notes
FirstSouthwest, a Division of Hilltop Securities Inc. ("FirstSouthwest") in our role as Financial
Advisor, assisted the City of Edgewater, Florida (the "City"), in issuing a Request for Proposals
("RFP") for a bank loan in an amount not to exceed $3,500,000. The City, under purchasing
guidelines, posted the RFP on its web site, advertised the RFP, and made it available to bidders on
www.demandstar.com on February 24, 2017. The purpose of the RFP is to provide "Bank
Qualified" financing to fund the construction, expansion and renovation of City recreational areas,
facilities and parks including walking trails, playgrounds and skate and splash parks (the "Recreation
Projects").
The objective of the RFP was to obtain financing at the lowest overall interest cost while providing
maximum flexibility to the City. The RFP asked for proposals that would provide the City with a 20
year loan with a preferred option to prepay the loan at any time without a prepayment penalty along
with other requested requirements. The General Obligation Notes will be payable from ad valorem
tax receipts levied to pay the principal and interest on the Notes
On March 13, 2017 the City received a total of four (4) responsive bids. Proposals were received
from the entities listed below and summarized in the attached table:
■ Ameris Bank
■ Capital One Public Funding LLC
■ City National Bank
■ Sterling National Bank
The City also received one non responsive bid from TD Bank, N.A.
This communication is for information only, not an offer, solicitation or recommendation, nor an official confirmation of any financial transaction. It is not to
be considered research. The information is considered to be reliable, but Hilltop Securities Inc. does not warrant its completeness or accuracy, prices and
availability are subject to change without notice. Clients should consult their own advisors regarding any accounting, legal or tax aspects. Investors are
instructed to read the entire Official Statement to obtain information essential to the making of an informed investment decision.
Hilltop Securities Inc. direct 407.426.9611
450 South Orange Ave fax 407.426.7835
Suite 460 mark.galvin@hilltopsecurities.com
Orlando, Florida 32801 Hilltop Securities.com
Recommendation
Based upon our review of the proposals we feel the Ameris Bank proposal has the best overall
proposal. Their proposal had the lowest fixed interest rate (3.06%) for the full 19.25 years. This rate
is being held through April 5, 2017 closing date. Their proposal also provides the City the flexibility
to prepay the loan at any time without a penalty. As part of this review process the Ameris Bank
proposal was also reviewed by City Staff, and Bond Counsel (Broad and Cassel). Based on their
comments it is FirstSouthwest's recommendation that the City Council select Ameris Bank proposal
for the proposed Series 2017 General Obligation Note and authorize staff and the financing team to
finalize the necessary documents for the City to approve at the April 3' Council meeting.
If you have any questions or comments please feel free to contact me.
Mark Galvin
Director
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A....merYs
Bank
Copy 1
March 13, 2107
Mr. Jonathan McKinney
Assistant City Manager/ Finance Director
104 N. Riverside Drive
Edgewater, FL 32131
Dear Mr. McKinney:
Ameris Bank (`Bank") is pleased to offer the City of Edgewater, FL ("You" or "Your") the following loan
commitment. This loan will become effective upon Your acceptance of this commitment letter, the return
of the executed copy of same to the Bank and, subject to the conditions set forth herein, a closing of the
transaction in a manner satisfactory to the Bank. Below are the terms and conditions:
A. STRUCTURE OF THE FINANCING
BORROWER: The Borrower shall be the City of Edgewater, FL.
LOANAMOUNT: Up to $3,500,000
PURPOSE: The Proceeds of the Note will be used for the construction, expansion and renovation of City
recreational areas, facilities and parks including walking trails, playgrounds, skate and splash parks.
Security for Transaction:
The full faith, credit and taxing power of the City are pledged for the payment of the principal and interest on
the Loan and the direct annual tax levied upon all taxable property within the City.
REPAYMENT TERMS.
Interest shall be due semi-annually on July 1 and January 1 beginning July 1, 2017.
The principal amount of this loan shall be paid beginning July 1, 2017 and each year thereafter based on the
amortization schedule on the attached Appendix A.
Commitment Letter
Page 1
-A'merYs
Bank
B. TERMS AND CONDITIONS:
BANK CONTACT INFORMATION.•
Ameris Bank
Mike Jackson, SVP Commercial Banking
1259 Granada Blvd.
Ormond Beach, FL 32174
(3 86) 671-0143 Office
(386) 671-2588 Fax
mikejackson@amerisbank.com
Ameris Bank
Don Monk, Specialty Banking Executive
24 Second Ave. SE
Moultrie, GA 31768
(229) 616-6144
don.monk@amerisbank.com
INTEREST RATE:
The interest rate shall be fixed for the entire term of the loan at 3.06%, with the loan maturing July 1 2036.
This rate will remain in force, with the expectation that the loan will be closed on or before April, 10, 2017.
INTEREST DAY COUNT METHOD: 30/360 day basis.
PREPAYMENT PENALTY: There will be no prepayment penalty for partial or full repayment of principal at
any time.
OTHER FEESAND EXPENSES: The borrower shall pay all costs and expenses incurred in connection with
the preparation for, and the closing of the loan, including but not limited to attorney fees, and any recording
fees. Based on the borrower's representation their legal counsel will prepare all documents and will render an
approving opinion. The lender will charge no closing fees other than fees of lender's legal counsel to review
the documents related to this transaction.
LENDER'S COUNSEL: Lender shall engage Irvin Weinstein with Rogers Towers of Jacksonville, FL to
review all documentation regarding the perfection of pledge of revenues and other related loan documents as
prepared by the borrower's legal counsel. The fees of lender's counsel will not exceed $7,500.
SYNDICATION. • The loan will not be syndicated to other banks.
Commitment Letter
Page 2
-1'merYs
Bank
C. OTHER INFORMATION AND DOCUMENTATION PERTINENT TO THIS LOAN
COMMITMENT
FINANCIAL CONDITIONAND STATEMENTS: On an annual basis, corresponding with the Authority's
fiscal year end, the Authority will furnish Lender with audited financial statements in form, scope and
substance satisfactory to Lender as prepared by a certified public accountant.
LATE FEES: Bank may at its option collect from borrower a late charge of five percent (5.00%) of any
payment not received by Bank within ten (10) days after the payment is due.
EVENT OF DEFAULT: Upon an event of default as described in the bond resolution, the holder may
recover from the borrower all expenses incurred including without limitation reasonable attorney's fees, at all
levels of the proceedings, whether incurred in connection with collection, bankruptcy, proceedings, trial,
appeal or otherwise.
REPRESENTATIONS OFBORROWER: This Commitment is subject to the accuracy of all information,
representations, and materials submitted with or in support of Borrower's application for the Loan. In the event
of inaccuracy or material changes in the information, representations and materials required hereby, that event
shall, at the option of the Lender, operate to terminate this Commitment and all of Lender's obligations
hereunder.
NON -ASSIGNABILITY: Borrower's rights under this Commitment and the Loan shall be personal since
Lender has evaluated this Loan and has agreed to make this Loan based on the unique qualifications of
Borrower, both financial and otherwise. Neither this Commitment nor any of the proceeds of the Loan shall be
assignable by Borrower without the consent of Lender.
ENTIRE A GREEMENT, MODIFICA TIONSAND AMENDMENTS: This Commitment contains the entire
agreement of Borrower and Lender with respect to the Loan. No change in the provisions of this Commitment
shall be binding unless in writing and executed in the name of and by an officer of Lender. All obligations
and duties under this Commitment not accomplished or completed at closing shall survive the closing and
continue to remain obligations and duties on the part of either party.
WARRANTIES: The bank warrants to the borrower that we will comply with all applicable federal, state, and
local laws, regulations, and orders providing the services under the proposed documents.
SURVIVAL: This Commitment and all terms and provisions hereof shall survive the closing of the Loan and
shall be incorporated into the Loan documents by reference.
ANYAGREEMENTS, formal or informal, effecting this loan must be fully disclosed to us in writing, within
Commitment Letter
Page 3
�merYs
Bank
five (5) days of your acceptance of this commitment. We reserve the right to withdraw this commitment if any
such agreements are unsatisfactory to either the Bank or the Bank's attorney. Ameris Bank reserves the right to
cancel this commitment and to terminate its obligations hereunder in the event of either of the following
conditions:
A. The Borrower should become the subject of bankruptcy, insolvency or reorganization
proceeding of any nature.
B. Failure of any of the conditions of this commitment to occur as required.
ACCEPTANCE: This Commitment shall be open for acceptance until April 5, 2017. An executed copy of
this Commitment must be received by Lender by April 5, 2017. In the event an accepted copy of the
Commitment Letter has not been received by Lender on or before April 5, 2017, the Commitment shall be
deemed to have lapsed, unless extended in writing by Lender, and Lender shall have no further obligation
under this Commitment.
If the foregoing is satisfactory, please indicate your acceptance by executing and returning to Bank the original
of this letter, keeping the copy for your files. This Commitment will at Bank's option, terminate unless the
Loan is closed by April 10, 2017. Thank you again for this opportunity to provide this credit facility.
Ameris Bank
Don Monk
Specialty Banking Executive
BORROWER'S ACCEPTANCE
The undersigned hereby accepts this Commitment and agrees to the terms and conditions
herein this day of, 2017.
BORROWER:
City of Edgewater, FL (authorized signature)
AUTHORIZED SIGNOR (PRINT NAME):
Commitment Letter
Page 4
o-A.,merYs
Bank
APPENDIX A
Preliminary Debt Service Schedule*
Period
Principal
Interest
Debt Service.
Ending
7/1/2017
$42,000.00
$28,670.25
$70,670.25'
7/1/2018
129,000.00
118,545.00'
247,545.00;
7/1/2019
133,000.00'
114,030.00
247,030.00'
7/1/2020
138,000.00
109,375.00
247,375.00
7/1/2021
142,000.00'
104,545.00
246,545.00
7/1/2022
147,000.00
99,575.00
246,575.00
7/1/2023
153,000.00
94,430.00'
247,430.00
7/1/2024
158,000.00'
89,075.00
247,075.00
7/1/2025
163,000.00'
83,545.00'
246,545.00
7/1/2026
169,000.001
77,840.00'
246,840.00
7/1/2027
175,000.00
71,925.00
246,925.00.
7/1/2028
181,000.00
65,800.00
246,800.00
7/1/2029
188,000.00
59,465.00'
247,465.00
7/1/2030
194,000.00
52,885,M
246,885.00
7/1/2031
201,000.00
46,095.00
247,095,00
7/1/2032
208,000.00
39,060.00
247,060.00.
7/1/2033
215,000.00
31,780.00
246,780.00'
7/1/2034
223,000.00
24,255.00
247,255.00
7/1/2035
231,000.00
16,450.00
247,450.00
7/1/2036
239,000.00
8,365.00'
247,365.00
$3,429,000.00
$1,335,710.25
$4,764,710.25
*Preliminary; subject to change.
City National Bank
E�O FINANCIAL GROUP
March 10, 2017
City of Edgewater
Mr. Johnathan McKinney
Assistant City Manager/Finance Director
104 N. Riverside Drive
Edgewater, FL 32131
Via Email: imckinney@cityofedgewater.org
RE: Tax Exempt Renovation of City Recreation Area Financing
ON
City National Capital Finance is pleased to present this proposal (the "Term Sheet") to the City of
Edgewater, Florida in connection with the above referenced Lease Purchase Financing:
TCn11A CL rrlr
TYPE OF FINANCING: Tax-exempt municipal loan not to exceed amount of
$3,500,000.
BORROWER: The City of Edgewater
LENDER: City National Bank
FINANCIAL ADVISOR: Mr. Mark P Galvin, First Southwest, a Division of Hilltop
Securities, Inc.
PURPOSE: The loan will cover the cost of the project management, labor
and material to perform construction, expansion and
renovation of City recreational areas, facilities and parks
including walking trails, playgrounds, skate and splash parks.
AMOUNT FINANCED:
Not to exceed $3,500,000
FINANCING TERM: Thirty-nine (39) payments commencing on July 1, 2017 with
principal payments annually and interest payments semi-
annually each July 1St and January 1" with a final maturity of July
1, 2036.
LOAN RATE: 3.15% (Tax Exempt)
CLOSE DATE: April 5, 2017 (anticipated)
LOAN PAYMENT: Please refer to Exhibit A, Sample Amortization attached hereto.
SECURITY: The Loan shall constitute a general obligation of the City
secured by the full faith, credit and taxing power of the City in
the form of a direct annual tax levied upon all taxable property
with the City.
INTEREST RATE LOCK: The Loan Rate quoted above is valid for a closing on or before
April 5, 2017. Should closing occur after such date, the quoted
Loan Rate will be subject to adjustment to then current market
conditions five (5) days prior to closing at the sole discretion of
the Lender.
BANK QUALIFICATION:
It is anticipated that the Loan will be Bank Qualified.
OPINIONS: A validity opinion will be required and will state, among other
things, that the Loan is legal, valid, binding, and enforceable and
that the interest component of payments to be made by the
Issuer is excluded from gross income for federal income tax
purposes.
MAINTENANCE & INSURANCE: All maintenance and insurance are the responsibility of the
Borrower. The Borrower shall bear all risk of loss or damage to
the Property and Equipment and shall be responsible for
keeping same insured.
PREPAYMENT: Borrower shall have the right to pre -pay the Loan in whole but
not in part on any payment date by paying the purchase price,
provided that it gives Lender at least thirty (30) days prior
written notice of its intent to do so. The purchase price, as a
percentage of the then -outstanding balance, shall be equal to:
Year: Percentage:
1-5 No Call
6-15 Par
COSTS OF ISSUANCE: The costs of issuance incurred by Borrower, such as counsel
fees and/or financial advisory fees, are payable by Borrower and
may be capitalized into the Loan upon request.
OTHER REQUIREMENTS: Borrower must establish an account with City National Bank for
purposes of loan payments.
DOCUMENTATION: The Lender will provide documentation subject to the review
and approval of Borrower.
ASSIGNMENT: Lender reserves the right—without the consent of (but with
notice to) the Borrower —to assign, sell or otherwise transfer
the Loan in whole (or interests therein) to a financial institution
or to a trust, partnership, custodial arrangement or similar
entity, interests in which are offered and sold to an Eligible
Assignee.
CNCF Confidential Term Sheet 2 1 P a g e
IRS CIRCULAR 230 DISCLOSURE: Lender and its affiliates do not provide tax advice. Accordingly,
any discussion of U.S. tax matters contained herein (including
any attachments) is not written or intended to be used, and
cannot be used, in connection with the promotion, marketing or
recommendation by anyone unaffiliated with Lessor of any of
the matters addressed herein or for the purpose of avoiding
U.S. tax -related penalties.
LOAN TREATMENT: The Lender intends to classify the obligation as a privately
placed Loan. As such that it will feature (but will not be limited
to) the following restrictions:
• The loan will not be assigned a CUSIP
• The loan will not be registered with the DTC;
• The Lease will not feature transfer restrictions such that
transfer is restricted to Bank affiliates, or to Qualified
Institutional Buyers, each of which is a commercial bank
with minimum capital, etc.;
• The cannot be marketed pursuant to an offering document;
• The loan will be issued as a single obligation in an
authorized denomination equal to the amount of the
borrowing.
ADVISORY DISCLOSURE: Lender is not a registered municipal advisor as defined under
the Dodd -Frank Wall Street Reform and Consumer Protection
Act and its related rules and regulations. In providing this Term
Sheet, Lender is not providing any advice, advisory services, or
recommendations with respect to the structure, timing, terms,
or similar matters concerning an issuance of municipal
securities. This Term Sheet is a commercial, arms -length
proposal that does not create a fiduciary duty by Lender to the
Issuer. The Issuer may engage, separately and at its own cost,
an advisor to review this Term Sheet and the proposed
transaction on the Issuer's behalf.
CREDIT APPROVAL: This Term Sheet is subject to formal credit approval by Lender
and the negotiation of mutually acceptable documentation. For
due diligence, Lender will require Issuer's three (3) most recent
audited financial statements, its most recently adopted budget,
a complete project description, a copy of any contract in
connection with the project, and any other information that
Lender may reasonably require.
PROPOSAL EXPIRATION: Unless accepted by the Issuer or extended in writing by Lender
at its sole discretion, this Term Sheet shall expire on March 24,
2017. Once accepted, this Term Sheet shall expire if the Loan as
not funded by April 5, 2017.
CNCF Confidential Term Sheet 3 1 P a g e
Upon receipt of the signed Term Sheet, we will endeavor to provide you with a timely commitment and
we will use good faith efforts to negotiate and finance the Loans based on the terms herein. It is a
pleasure to offer this financing proposal to the Village, and we look forward to their favorable review.
Very truly yours,
CV -j
Noel A. Mauro
Vice President
City National Bank
1450 Brickell Ave. Suite 2800
Miami, Florida 33131
Noel.Mauro@citynational.com
State of FLORIDA
County of BROWARD
The foregoing instrument was acknowledged before me this 160 day of MARCH, 2017 by
NOEL A. MA URO as VP of CITY NATIONAL BANK who has produced FL DL as
identifi on. LOURDES C. LIMA
tiotsry public - State of Florida
• ` Canmissim i ff 913689
M1► Comm. EOWN Ap 27, 2019.__ i
C I -Via
F,V413689 Exp Aug 27, 2019
Agreed to and Accepted by:
City of Edgewater
(Name)
(Title)
(Date)
CNCF Confidential Term Sheet 4 1 P a g e
CNCF Confidential Term Sheet 5 1 P a g e
Exhibit A
Sample Amortization
Compound Period: Monthly
Nominal Annual Rate: 3.15%
Cash Flow Data
Amortization Schedule - Normal Amortization
Date
Payment
tnteres
1 �
3a ai
Loan
4/5/2017
3,500,000.00
1
7/1/2017
201,403.48
26,403.48
175,000.00
3,325,000.00
2
1/1/2018
52,713.63
52,713.63
0.00
3,325,000.00
3
7/1/2018
227,713.63
52,713.63
175,000.00
3,150,000.00
4
1/1/2019
49,939.22
49,939.22
0.00
3,150,000.00
5
7/1/2019
224,939.22
49,939.22
175,000.00
2,975,000.00
6
1/1/2020
47,164.82
47,164.82
0.00
2,975,000.00
7
7/1/2020
222,164.82
47,164.82
175,000.00
2,800,000.00
8
1/1/2021
44,390.42
44,390.42
0.00
2,800,000.00
9
7/1/2021
219,390.42
44,390.42
175,000.00
2,625,000.00
10
1/1/2022
41,616.02
41,616.02
0.00
2,625,000.00
11
7/1/2022
216,616.02
41,616.02
175,000.00
2,450,000.00
12
1/1/2023
38,841.62
38,841.62
0.00
2,450,000.00
13
7/1/2023
213,841.62
38,841.62
175,000.00
2,275,000.00
14
1/1/2024
36,067.22
36,067.22
0.00
2,275,000.00
15
7/1/2024
211,067.22
36,067.22
175,000.00
2,100,000.00
16
1/1/2025
33,292.82
33,292.82
0.00
2,100,000.00
17
7/1/2025
208,292.82
33,292.82
175,000.00
1,925,000.00
18
1/1/2026
30,518.41
30,518.41
0.00
1,925,000.00
19
7/1/2026
205,518.41
30,518.41
175,000.00
1,750,000.00
20
1/1/2027
27,744.01
27,744.01
0.00
1,750,000.00
21
7/1/2027
202,744.01
27,744.01
175,000.00
1,575,000.00
22
1/1/2028
24,969.61
24,969.61
0.00
1,575,000.00
23
7/1/2028
199,969.61
24,969.61
175,000.00
1,400,000.00
24
1/1/2029
22,195.21
22,195.21
0.00
1,400,000.00
25
7/1/2029
197,195.21
22,195.21
175,000.00
1,225,000.00
26
1/1/2030
19,420.81
19,420.81
0.00
1,225,000.00
27
7/1/2030
194,420.81
19,420.81
175,000.00
1,050,000.00
28
1/1/2031
16, 646.41
16, 646.41
0.00
1,050, 000.00
29
7/1/2031
191,646.41
16,646.41
175,000.00
875,000.00
30
1/1/2032
13,872.01
13,872.01
0.00
875,000.00
31
7/7/2032
189,338.66
14,338.66
175,000.00
700,000.00
32
1/1/2033
10,787.31
10,787.31
0.00
700,000.00
33
7/1/2033
186,097.61
11,097.61
175,000.00
525,000.00
34
1/1/2034
8,323.20
8,323.20
0.00
525,000.00
CNCF Confidential Term Sheet
6 P a g e
Cate
P me!xt
Interest
36 1/1/2035
5,548.80
5,548.80
0.00
350,000.00
37 7/1/2035
180,548.80
5,548.80
175,000.00
175,000.00
38 1/1/2036
2,774.40
2,774.40
0.00
175,000.00
39 7/1/2036
177,774.40
2,774.40
175,000.00
0.00
Totals 4,580,832.33 1,080,832.33 3,500,000.00
CNCF Confidential Term Sheet 7 1 P a g e
c�11��IiB��®
Ann,%rcFaurf
Supervisor of Elections
County Of vo�usia
�ORIDA
April 1, 2016
Robin Matusick, City Clerk
City of Edgewater
PO Box 100
Edgewater, Florida 32132
Dear Robin:
Enclosed you will find the official results of the City of Edgewater's referenda
election that was held on March, 15, 2016. Also enclosed is the invoice for the Election.
If you have any questions, feel free to contact the office..
Kindest Re/ ards.
Ann McFall, Supervisor
Historic Courthouse
125 West New York Avenue, DeL vid, FL 32720-5415
(386) 736-5930 • (386) 254-4690 • (386) 423-3311 • FAX (386) 822-5715
www.volusia.org /elections
If your signature has changed, please update your signature by completing a new Florida voter registration application.
It is important to keep your signature updated, so that absentee ballots and/or petition signatures can be counted.
***Official***
CERTIFICATE OF COUNTY CANVASSSING BOARD
STATE OF FLORIDA
Volusia County
We, the undersigned, CHRISTOPHER KELLY, County Judge, JASON DAVIS,
Chair, County of Volusia, and ANN McFALL, Supervisor of
Elections, constituting the Board of County Canvassers in and for said County, do hereby certify that we
met on the 25th day of March, 2016 and proceeded publically to canvass the votes given for the City of
Edgewater Debt Referendum specified at the Election held on the 15th day of March, 2016 as shown by
the returns on file in the office of the Supervisor of Elections.
We do hereby certify from said returns as follows:
For General Obligation Bond, Note, or Other Indebtedness for Improvements to City
Recreation Facilities and Parks. The whole number of vote cast was 4,460 of which number:
For Bonds received 2,599 votes
Against Bonds received 1,861 votes
We certify that pursuant to Section 102.112, Florida Statute, the canvassing board has compared the
number of persons who voted with the number of ballots counted and that the certification includes all
valid votes cast in the election.
County Judge
Volusia County Chair
Supervisor of Elections