Broward County Commission Regular Meeting
Director's Name: Jonathan Daniels
Department: Port Everglades Division: Director's Office
Information
Requested Action
title
MOTION TO ADOPT Resolution of the Board of County Commissioners of Broward County, Florida, authorizing the redemption of the Broward County, Florida Port Facilities Refunding Revenue Bonds, Series 2011A (Non-AMT), and the Broward County, Florida Port Facilities Refunding Revenue Bonds, Series 2011B (AMT); authorizing the transfer of not-to-exceed $18,000,000 of legally available monies of the Port Everglades Department to an escrow account to be applied to redeem such Bonds (as defined in the Resolution); authorizing the Mayor and Clerk to execute and deliver an Escrow Deposit Agreement and the Appointment of an Escrow Agent therefor.
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Why Action is Necessary
Broward County Board of County Commissioners approval is required to authorize the use of not-to-exceed $18,000,000 of legally available monies of the Port Everglades Department on deposit pursuant to the Port Everglades Department Master Bond Resolution to redeem the Series 2011A and Series 2011B Bonds, and to approve the Escrow Deposit Agreement and appoint an escrow agent thereunder.
What Action Accomplishes
Authorizes the redemption of the Series 2011A and Series 2011B Bonds.
Is this Action Goal Related
Yes
Previous Action Taken
None.
Summary Explanation/Background
THE PORT EVERGLADES DEPARTMENT AND THE FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT RECOMMEND APPROVAL.
This action supports the Broward County Board of County Commissioners' ("Board") Value of "Ensuring economic opportunities for Broward's diverse population and businesses" and the Goal to "Increase the economic strength and impact of revenue-generating County enterprises balancing economic, environmental, and community needs."
The Broward County, Florida Port Facilities Refunding Revenue Bonds, Series 2011A (Non-AMT), and the Broward Count...
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