12-02-2019 ���,� �/ 104 N. Riverside Drive
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��GEtivATER Meeting Agenda
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Charter Review Committee
Monday, December 2,2019 4:00 PM Council Chambers
1. CALL TO ORDER,ROLL CALL
2. APPROVAL OF MINUTES -None at this time
3. CHARTER REVIEW
a. 3.08 - Prohibition (d) - Limitation on borrowing
Attachments: Charter ballot lanquaqe Resolution #2016-R-40
4. ADJOURN
Pursua�t to Chapter 286, F.S., if a� i�dividual decides to appeal a�y decisio�made with respect to a�y
matter co�sidered at a meeti�g or heari�g, that i�dividual will�eed a record of the proceedi�gs a�d
will�eed to e�sure that a verbatim record of the proceedi�gs is made. The City does�ot prepare or
provide such recorc�
I�accorda�ce with the America�s with Disabilities Act,perso�s�eedi�g assista�ce to participate i�a�y
of these proceedi�gs should co�tact City Clerk/Paralegal Robi�L. Matusick, 104 N. Riverside Drive,
Edgewater, Florida, telepho�e�umber 386-424-2400 x 1101, S days prior to the meeti�g date. If you
are heari�g or voice impaired, co�tact the relay operator at 1-800-955-8771
O�e or more members of City Cou�cil or other advisory boards may be prese�t.
City of Edgewater Page 1 Printed on 11/22/2019
104 N. Riverside Drive
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City of Edgewater Edgewater, FL 32132
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EDGEINATER
Legislation Text
File #: AR-2019-4525, Version: 1
BOARD AGENDA ITEM
SUBJECT:
3.08 - Prohibition (d) - Limitation on borrowing
SUMMARY:
Section 3.08 - Prohibition paragraph (d) Limitations on Borrowing - requested additional information
on last Charter Ballot Language (Resolution #2016-R-40)
City of Edgewater Page 1 of 1 Printed on 11/22/2019
RESOL UTION#2016-R-40
ELECTION REStILTS FROM 11/08/2016
BALLOT SUMMARY#4
The current Charter provides the City shall not incur additional debt of more than 0.75
percent of net taxable value during any forward moving five-year period unless approved by the
voters. This proposed Amendment provides the City may issue General Fund Debt by majority
vote of City Council provided the aggregate total amount of annual debt service does not exceed
10% of General Fund operating revenues unless such debt is approved by the voters.
CHARTER LIMITATIONS ON BORROWING
Should the City Charter limitations on borrowing be amended?
4,197 Yes. In fa�or of amending the Charter limitations on borrowing.
5,198 No. Against amending the Charter limitations on borrowing.
BALLOT SUMMARY#5
The current City Charter requires the City to maintain reserves at a minimum of 15
percent with a maximum of 25 percent of the general fund. This proposed Charter Amendment
would require the City to maintain reserves at a minimum of 15 percent of all operating funds.
ESTABLISHING RESERVES AT A MINIMUM OF 15 PERCENT OF ALL
OPERATING FUNDS
Should the City Charter be amended to require the City to maintain reserves at a
minimum of 15 percent of all operating funds?
6,451 Yes. In fa�or of amending the Charter to require the City to maintain reserves at a
minimum of 15 percent of all operating funds.
2,875 No. Against amending the Charter to require the City to maintain reserves at a
minimum of 15 percent of all operating funds.