BUNNELL CITY COMMISSION MEETING Monday, February 23, W. Moody Boulevard/S. Forsyth Street, Bunnell, Florida :00 PM

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1 CATHERINE D. ROBINSON MAYOR JOHN ROGERS VICE-MAYOR LARRY WILLIAMS CITY MANAGER COMMISSIONERS: ELBERT TUCKER BILL BAXLEY BONITA ROBINSON Our Community is all about Neighbors BUNNELL CITY COMMISSION MEETING Monday, February 23, W. Moody Boulevard/S. Forsyth Street, Bunnell, Florida :00 PM A. Call the Meeting to Order and Pledge Allegiance to the Flag. Roll Call: Invocation for our Military Troops and National Leaders. B. Introductions, Commendations, Proclamations, and Presentations: B-1. Presentation: Bunnell Farmer s Market Denise Calderwood. B-2. Commendation: Certificate of Appreciation to Ms. Annie Louise Johnson one of the City s First African American Elected Officials (A short recess with refreshments provided after which the regular meeting will reconvene). C. Consent Agenda: C-1. Approval of Warrant C-2. Approval of Minutes City Commission Meeting Minutes C-3. Approve applicants for the Parks and Recreation Advisory Committee. D. Public Comments: Comments regarding items not on the Agenda. Citizens are encouraged to speak; however, comments are limited to four (4) minutes. E. Ordinances: (Legislative): None F. Resolutions (Legislative): F-1. Resolution : Amending the Annual Operating Budget for FY 2014/2015 as it relates to Flagler Central Commerce Parkway. F-2. Resolution : Authorizing issuance of Non-Ad Valorem revenue note. G. Old Business: None H. New Business: None Bunnell City Commission Meeting Agenda Page 1 of 2

2 I. Reports: City Clerk: City Attorney: City Manager: Mayor and City Commissioners: J. Call for Adjournment. This agenda is subject to change without notice. Please see posted copy at the Bunnell Municipal Complex and on our website NOTICE: If any person decides to appeal any decision made by the City Commission or any of its boards, with respect to any matter considered at any meeting of such boards or commission, he or she will need a record of the proceedings, and for this purpose he or she may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon with the appeal is based, Florida Statutes. Any person requiring a special accommodation at this meeting because of a disability or physical impairment should contact the City Clerk at (386) THE CITY OF BUNNELL IS AN EQUAL OPPORTUNITY SERVICE PROVIDER. Posted by City Clerk s office on February Bunnell City Commission Meeting Agenda Page 2 of 2

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20 CATHERINE D. ROBINSON MAYOR JOHN ROGERS VICE-MAYOR LARRY WILLIAMS CITY MANAGER COMMISSIONERS: ELBERT TUCKER BILL BAXLEY BONITA ROBINSON Our Community is all about Neighbors BUNNELL CITY COMMISSION MEETING MINUTES Monday, February 9, W. Moody Boulevard/S. Forsyth Street, Bunnell, Florida :00 PM A. Call the Meeting to Order, Pledge Allegiance to the Flag, Roll Call and Invocation for our Military Troops, First Responders and National Leaders. Mayor Robinson called the meeting to order at 7:05 PM, led the pledge and called the roll. All Commissioners were present. Vice Mayor Rogers led the invocation. B. Introductions, Commendations, Proclamations, and Presentations: None C. Consent Agenda: C-1. Approval of Warrant C-2. Approval of Minutes a City Commission Meeting C-3. Approval of not expending funds for Fantastic Flagler Magazine Ad C-4. Approval of Ten-8 Fire Blanket Purchase Order C-5. Approval of piggybacking Atlantic Beach Contract with Advanced Environmental Laboratories, Inc. for Wastewater Analysis Motion: Approve the Consent Agenda. Motion By: Vice Mayor Rogers Seconded By: Commissioner Robinson Board Discussion: None Public Discussion: None Vote: Motion carried unanimously. D. Public Comments: Comments regarding items not on the Agenda. Citizens are encouraged to speak; however, comments are limited to four (4) minutes. Yolanda Williams Her grandmother passed away in July 2014, and she moved into her grandmother s home the end of August. I paid my water bill on December 8th, but when I went in to pay it on January 6th, I was told the account had been closed because the City had received a death certificate. I was also told it was pointless to pay the bill because the water was going to be cut off. They locked my water meter on January 28th. The only notice I received was that I had removed the lock. My problem is I never received notice. I ve been paying all the bills coming to my Grandmother s address since I ve been there. I have three children at home and have to go to my mother s home or hotels to take showers because I have no water. My grandmother s home is in Bunnell City Commission Meeting Minutes Page 1 of 6

21 probate and it takes time for the courts to act. So there s nothing I can do about that. But I live in the home and need to have the water on. City Attorney response: I ve been working with the probate attorney to figure this out. The problem is the City has a reasonable policy that in order for someone to have a water account, they have to establish their right to reside on the property, which is usually proven with a deed or a lease. In this case, the grandmother has passed on and the estate has yet to be probated. The probate attorney has been asked for a couple documents that would allow the city to make an exception with the account, but that has not been provided. Vice Mayor Rogers then requested that this matter be placed on the agenda so action could be taken. Motion: Add this matter to tonight s agenda. Motion made by: Vice Mayor Rogers Seconded by: Commissioner Rogers Vote: Motion carried unanimously. Motion: Turn the water account back on as soon as Ms. Williams pays the outstanding water bill. Motion By: Vice Mayor Rogers Seconded By: Commissioner Baxley Board Discussion: None Public Discussion: Annette Lassiter (Ms. Williams s mother) stated that probate takes time. We need some help here until the probate decision is decided. Vote: Motion carried unanimously. The Public Comments portion of the meeting resumed at this point. Daisy Henry Spoke about not getting home mail delivery on Drain St., Hymon Circle and other areas in her neighborhood. She said some of the elderly folks can t get to the post office and they should be able to establish home delivery, but that the post office is not willing to do that. The city needs to be aware of this and try to take action on behalf of the south side of town. After Public Comments, Mayor Robinson moved Item H-6 on the agenda. H-6. Approval of selection committee s recommended award of RFP Tax Exempt Bank Loan in the amount of $825,000 to Ameris Bank. Ms. Gurnee introduced the item reviewing the timeline of the RFP bid advertisement and rating process. Motion: Approve Ameris Bank be awarded the bid. Motion By: Commissioner Tucker Seconded By: Vice Mayor Rogers Board Discussion: None Public Discussion: None Vote: Motion carried unanimously. E. Ordinances: (Legislative): Bunnell City Commission Meeting Minutes Page 2 of 6

22 E-1. Ordinance : Changing the Future Land Use Designation of ± 1.35 Acres of Property from City of Bunnell Public to City of Bunnell Commercial Medium. Second Reading. City Attorney Vose read the short title for the record. Motion: Adopt Ordinance on second reading. Motion By: Commissioner Baxley Seconded By: Commissioner Robinson Board Discussion: None Public Discussion: None Vote: Motion carried unanimously. E-2. Ordinance : Changing the Zoning Designation of ± 1.35 Acres of Property from City of Bunnell Public to City of Bunnell B-2, Business district. Second Reading. City Attorney Vose read the short title for the record. Motion: Adopt Ordinance on second reading. Motion By: Vice Mayor Rogers Seconded By: Commissioner Baxley Board Discussion: None Public Discussion: None Vote: Motion carried unanimously. E-3. Ordinance : Amending Section of the Code of Ordinances regarding the use of Dumpster enclosures. Second Reading. City Attorney Vose read the short title for the record. Motion: Adopt Ordinance on second reading. Motion By: Commissioner Robinson Seconded By: Commissioner Tucker Board Discussion: None Public Discussion: None Vote: Motion carried unanimously. F. Resolutions (Legislative): F-1. Resolution : Amending Resolution , Public Facility Fees. City Attorney Vose read the short title for the record. Motion: Adopt Resolution with following changes/amendments: a. Change V.L. Mitchell (residents) daily rates from $350 to $200 b. Change V.L. Mitchell (residents) hourly rates from $25 to $20 c. Only require 14 day advance notice for reservations when staff is needed. Otherwise, allow reservations with no notice. d. Allow Wolfpack youth football league s waiver of all fees to be grandfathered in with the condition that the electric bill for the football field will be reviewed for two months and if the costs have not decreased, we will revisit this. Motion By: Commissioner Robinson Seconded By: Commissioner Tucker Board Discussion: Commissioners discussed this in detail. The following are the highlights of what each commissioner had to say: Mayor Robinson doesn t think we should charge for use of lights on Bunnell City Commission Meeting Minutes Page 3 of 6

23 the field, they ve always been available for anyone to use. If no one is using the field, someone should turn the lights off. We charge for use of a public park. She said gas stations and restaurants get business when the field is in use. Commissioner Tucker said that many times he drives by and the lights are on but nobody is on the fields. Why don t we just adjust the rates? If only 60 of the 200 kids are from Bunnell then we could set a rate accordingly. Vice Mayor Rogers: A lot of kids aren t playing and they re doing bad things. I appreciate what the Knights are doing. I say we grandfather the Wolfpack in and not charge them anything. Commissioner Baxley: Football is not the problem. We have a problem with the lights going on when people aren t there. Commissioner Robinson: We can t charge one team and not another. Mr. Williams also let the commission know that the Wolfpack have been getting into City Hall with an unauthorized key, and they have put a freezer and refrigerator full of hot dogs and other foods in the concession stand along with a locked equipment locker. They are treating the concession stand as if they own it and even tried to sub-lease it to the Knights. He continued that originally, the Wolfpack had been given a fee waiver for the 2012 season but they have never come back and asked for another waiver; they ve just kept playing year after year, without reserving the field and without providing liability insurance. Public Discussion: Curt Shalet (Palm Coast): Youth coach for 10 years started this is because kids couldn t afford to pay. Every child plays. 200 kids in organization, 65 are from Bunnell. They are on full scholarships. Daisy Henry (Bunnell): Mr. Williams said staff is needed. They are only needed when there s not enough chairs and tables. I agree with Vice Mayor Rogers, you can t always reserve two weeks out. Charlie Washington (Palm Coast): Had a game last Saturday. I had the field until 10PM but the lights went off at 9:30. If I pay until 10 I expect the lights to be on until 10:00 PM. Xiamara Rivera (Palm Coast): We need to know when the two month evaluation will start because we re not the only ones that use our field. Our season doesn t start until July. You can t just start charging us for electricity if others are using it too. Tony James (Palm Coast): You need to address the light switch issue. Any child can reach their arm through and turn the switch on. The lights are on when we arrive and they go back on when we leave. What you ve done is not working. Secure the light switch better and your bill will go down drastically. Marie Guarino (Palm Coast): Tony is correct, anyone can reach a stick in and turn the lights on. Also, when you say there is a $1,500 light bill is that just for the football field or does that include the basketball court and the tennis courts? Kori Dahlberg (Flagler Beach): Has a child in football, and a child in soccer. Big difference in football and soccer as far as what kids have to pay. You shouldn t have any problem with fees for fields from youth soccer leagues. Daisy Henry (Bunnell): Are you monitoring the Wolfpack or Knights for light use? How are you going to tell the difference? Vote: Motion carried unanimously. Bunnell City Commission Meeting Minutes Page 4 of 6

24 G. Old Business: None H. New Business: H-1. Request Commission approval of the Contract with Michael Baker International, LLC, based upon the negotiated scope of services and fee for the Final Design Phase of Flagler Central Commerce Parkway. Mr. Tiblier gave the report. Motion: Approval of Contract with Michael Baker International LLC. Motion By: Vice Mayor Rogers Seconded By: Commissioner Tucker Board Discussion: Commissioner Robinson question on why s there going to be an upcoming budget resolution for this. Answer: The money is paid up front and then reimbursed, so it does not affect our budget. Public Discussion: None Vote: Motion carried unanimously. H-2. Request approval of Interlocal Agreement and Dedication and Reservation Deed for the Rightof-Way donation for a portion of Flagler Central Commerce Parkway. Motion: Approval of Interlocal Agreement and Dedication and Reservation Deed for the Right-of- Way donation for a portion of Flagler Central Commerce Parkway. Motion By: Commissioner Robinson Seconded By: Commissioner Baxley Board Discussion: None Public Discussion: William Holdrige (First Baptist Church Bunnell). We ve been working on this agreement for nine years. Thank you all for signing the paperwork. Vote: Motion carried unanimously. Mayor requested a two minute break. Meeting reconvened at 8:44 PM. H-3. Request for Final Plat Approval for Deer Run K-2: Re-Platting portions of Grand Reserve and Platting Deer Run. Community Development Director Mick Cuthbertson presented the item. Motion: Approve Final Plat for Deer Run K-2: Re-Platting portions of Grand Reserve and Platting Deer Run. Motion By: Vice Mayor Rogers Seconded By: Commissioner Baxley Board Discussion: None Public Discussion: None Vote: Motion carried unanimously. H-4. Monthly PZA Report. Community Development Director Mick Cuthbertson gave a report on what took place at last month s PZA Board meeting. No action required as this is only a report. Bunnell City Commission Meeting Minutes Page 5 of 6

25 H-5. Approval of Flagler Cats Special Events application for a private event to be called the Bunnell Agricultural Festival. Mr. Cuthbertson introduced the item. Ms. Molina (private event organizer) explained the event, which will be Saturday, May 16 th, Setup will be Friday May 15 th and will require two employees from two Public Works. Saturday will require staff from Fire, PD, and PW, and the City will be paid for their hourly rates as established in the Special Events Ordinance. Motion: Approve the request for Public Works staff to work on Friday during city hours for event setup (City to be paid for their work time by the event organizer). Motion By: Vice Mayor Rogers Seconded By: Commissioner Tucker Board Discussion: None Public Discussion: None Vote: Motion carried unanimously. I. Reports: City Clerk: Nothing to report. City Attorney: Regarding the Code Enforcement matter on Deen Road, a conjunction case has been filed. We saw progress, and then it petered out. The Hearing is two weeks from today. Our goal is not fines or punishment but to bring the property into compliance and hopefully convince the court to get the owner the help she needs. City Manager: Parks and Rec Committee Volunteer candidates should be coming to you for appointment at the next meeting. I m on vacation February 24 th through March 6 th. I had a meeting last Friday on economic development with Palm Coast. There is a huge transfer station going in just north of the city. We hope to be able to make concessions so the owner will consider annexing into our city. Mayor and City Commissioners: Vice Mayor Rogers: Met with Mike Morea at the transfer station about annexing. I think it s a possibility. Mayor: Represented the City at the recent Chamber installation dinner. J. Call for Adjournment. Motion: Adjourn the meeting at 9:00 pm Motion By: Commissioner Baxley Seconded By: Vice Mayor Rogers Vote: Motion carried unanimously. Catherine D. Robinson, Mayor Sandra Bolser, CMC, City Clerk Date Date Bunnell City Commission Meeting Minutes Page 6 of 6

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29 City of Bunnell, Florida Agenda Item No. F-1 Document Date: 2/13/2015 Amount: $ 1,500,000 Department: Finance Department Account #: Subject: Attachments: Please number items as they will appear on the agenda. Agenda Section: Resolution : Amending the Annual Operating Budget for FY 2014/2015 as it relates to Central Commerce Parkway Project. 1. Budget Resolution FDOT LAP F. Resolution Summary/Highlights: Resolution proposes to amend the Annual Operating Budget for FY as described in Exhibit A of the Resolution. Background: On April 14,2014 the City Commission approved acceptance of an FDOT Local Agency Program (LAP) Supplement Agreement for the engineering design of the Commerce Parkway project. The attached budget resolution amends the FY2014/2015 budget for this project. Staff Recommendation: Staff recommends approval of Resolution amending the Annual Operating Budget FY 2014/2015. City Attorney Review: Finance Department Review/Recommendation: Staff recommends approval of Resolution amending the Annual Operating Budget FY 2014/2015 Approver Name: Approval Status: Date: Stella Gurnee, Finance Director Approved 2/13/2015 Sandra Bolser, City Clerk Approved 2/13/2015 Admin Form 6 Revised January, 2014

30 RESOLUTION A RESOLUTION OF THE CITY OF BUNNELL, FLORIDA AMENDING THE FISCAL YEAR GENERAL FUND ANNUAL OPERATING BUDGET, RECOGNIZING CERTAIN REVENUES BY AMENDING RESOLUTION AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Bunnell City Commission adopted Resolution approving the Annual Operating Budget and Resolutions and amending the Annual Operating Budget for Fiscal Year ; and WHEREAS, the City of Bunnell City Commission approved the acceptance of an FDOT Local Agency Program (LAP) Supplement Agreement on April 14, 2014 for the engineering design of the Commerce Parkway project. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BUNNELL AS FOLLOWS: SECTION 1. BUDGET AMENDMENT. The City Commission of the City of Bunnell amends the Fiscal Year General Fund Operating Budget by revising as specified in Exhibit A attached hereto, which reflects revenues and corresponding expenditures for the designated events. SECTION 2. EFFECTIVE DATE. The Budget item adopted in the preceding section shall govern the expenditures relating to operations and projects for the City during the current fiscal year effective October 1, 2014 through September 30, SECTION 3. SUPPLEMENTAL APPROPRIATIONS. Supplemental appropriations, reductions of appropriations, emergency appropriations, and interdepartmental transfer appropriations may be effected by the City Commission and the City Manager as deemed necessary in strict compliance with the procedures specified in Fiscal Management Policy SECTION 4. EFFECTIVE DATE. This Resolution shall become effective immediately upon its passage and adoption. PASSED and ADOPTED at the meeting of the City Commission of the City of Bunnell, on the 23rd day of February CITY OF BUNNELL, FLORIDA Catherine D. Robinson, Mayor ATTEST: Approved as to Form: Sandi Bolser, City Clerk Wade Vose, City Attorney Seal: Attachments: Exhibit A City of Bunnell Resolution

31 COMPOSITE EXHIBIT A Resolution Number: FY2015 General Fund 001 PREPARED: 2/13/2015 FINANCE: Stella L. Gurnee REVENUES: APPROVED BUDGET State LAP Revenue 1,500,000 TOTAL REVENUES: 1,500,000 EXPENDITURES: Public Works 1,500,000 TOTAL EXPENDITURES 1,500,000

32 City of Bunnell, Florida Agenda Item No. F-2. Document Date: 2/13/2015 Amount: $ 825,000 Department: Finance Department Account #: Subject: Resolution : Authorizing issuance of Non-Advalorem Revenue Note Attachments: Please number items as they will appear on the agenda. Agenda Section: 1. Resolution Exhibit A Form of note 3. Exhibit B Form of purchaser s Certificate 4. Exhibit C Form of Disclosure statement F. Resolution Summary/Highlights: Request authorization of Resolution for issuance of Non-Advalorem Revenue Note. Background: RFP for Tax Exempt Bank Loan in the amount of $825,000 was issued and advertised on 12/30/2014. On the bid deadline of January 16, 2015 two bid packages were received. Ameris Bank s proposal was the responsive with the lowest proposed interest financing rate. The Ameris Bank proposal was complete in all required documentation and scored the highest in the other evaluating terms and conditions. On February 9, 2015 the City Commission approved the committee s recommendation to award RFP for Tax Exempt Bank Loan in the amount of $825,000 to Ameris Bank. Staff Recommendation: Approve Resolution authorizing the issuance of Non-Advalorem Revenue Note in the amount of $825,000. City Attorney Review: Finance Department Review/Recommendation: The current budget contains sufficient funds to support the proposed debt service payments. Approver Name: Approval Status: Date: Stella Gurnee, Finance Director Approved 2/13/2015 Sandra Bolser, City Clerk Approved 2/13/2015 Admin Form 6 Revised January, 2015

33 RESOLUTION NO A RESOLUTION OF THE CITY OF BUNNELL, FLORIDA AUTHORIZING THE ISSUANCE OF A NON-AD VALOREM REVENUE NOTE, SERIES 2015 IN THE PRINCIPAL AMOUNT OF $825,000 TO FINANCE AND/OR REFINANCE THE COSTS ASSOCIATED WITH ACQUISITION AND IMPROVEMENT OF THE MUNICIPAL COMPLEX COMPRISING CITY HALL AND TO PAY ASSOCIATED TRANSACTIONAL COSTS; PROVIDING THAT THE NOTE SHALL BE A LIMITED OBLIGATION OF THE CITY PAYABLE FROM NON-AD VALOREM REVENUES BUDGETED, APPROPRIATED AND DEPOSITED AS PROVIDED HEREIN; PROVIDING FOR THE RIGHTS, SECURITIES AND REMEDIES FOR THE OWNER OF THE NOTE; DESIGNATING THE NOTE AS A QUALIFIED TAX-EXEMPT OBLIGATION WITHIN THE MEANING OF THE INTERNAL REVENUE CODE; MAKING CERTAIN COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; AND PROVIDING FOR AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BUNNELL, FLORIDA: Section 1. Authority for this Resolution. This Resolution is adopted pursuant to Article VIII, Section 2 of the Constitution of the State of Florida, Chapter 166, Parts I and II, Florida Statutes, the municipal charter of the City, and other applicable provisions of law (collectively, the "Act"). Section 2. Definitions. All capitalized undefined terms shall have the same meaning as set forth in this Resolution. In addition, the following terms, unless the context otherwise requires, shall have the meanings specified in this section. Words importing the singular number shall include the plural number in each case and vice versa. "Ad Valorem Revenues" shall mean all revenues of the City derived from the levy and collection of ad valorem taxes. "Business Day" shall mean any day other than a Saturday, a Sunday, or a day on which banks in Bunnell, Florida are authorized or required to be closed. "City" shall mean the City of Bunnell, Florida, a Florida municipal corporation. "City Attorney" shall mean Vose Law Firm LLP. "City Clerk" shall mean the City Clerk of the City or any assistant or deputy City Clerk. City of Bunnell Resolution

34 "City Manager" shall mean the City Manager of the City or any acting, assistant or deputy City Manager. "Code" shall mean the Internal Revenue Code of 1986, as amended from time to time, and the applicable rules and regulations promulgated thereunder. "Debt Service Fund" shall mean the Debt Service Fund established with respect to the Note pursuant to Section 10 hereof. "Fiscal Year" shall mean the period commencing on October 1 of each year and continuing through the next succeeding September 30, or such other period as may be prescribed by law as the fiscal year of the City. "Line of Credit" shall mean the revolving line of credit obtained by the City pursuant to that certain Loan Agreement dated May 31, 2012, by and between the City and Intracoastal Bank. "Maturity Date" shall mean February 26, "Mayor" means the Mayor or Vice-Mayor of the City. "Non-Ad Valorem Revenues" shall mean all legally available revenues of the City other than Ad Valorem Revenues. "Note" shall mean the Non-Ad Valorem Revenue Note, Series 2015 authorized by Section 4 hereof. "Note Counsel" shall mean Bryant Miller Olive P.A., or other national recognized bond counsel firm. "Original Purchaser" shall mean Ameris Bank. "Owner" shall mean the Person or Persons in whose name or names the Note shall be registered on the books of the City kept for that purpose in accordance with provisions of this Resolution. "Person" shall mean natural persons, firms, trusts, estates, associations, corporations, partnerships and public bodies. "Pledged Revenues" shall mean the Non-Ad Valorem Revenues budgeted, appropriated and deposited in the Debt Service Fund as provided herein. City of Bunnell Resolution

35 "Principal Office" shall mean with respect to the Original Purchaser, 181 Cypress Point Parkway, Palm Coast, Florida 32164, or such other office as the Original Purchaser may designate to the City in writing. "Project" shall mean the acquisition and improvement of the municipal complex comprising City Hall. "Resolution" shall mean this resolution, pursuant to which the Note is authorized to be issued, including any supplemental resolution(s). "State" shall mean the State of Florida. Section 3. Findings. (A) In October, 2012, the City obtained the Line of Credit from Intracoastal Bank in order to provide interim or construction financing for various capital improvements including but not limited to median and road improvements pertaining to State Road 100 and US 1, City gateway enhancements, the art to park project, the Railroad Street enhancements project, and the Project. (B) The Line of Credit is prepayable at any time without penalty. (C) For the benefit of its citizens, the City finds, determines and declares that it is necessary for the continued preservation of the welfare and convenience of the City and its citizens to finance and/or refinance the Project by issuing the Note and applying the proceeds thereof to repay draws from the Line of Credit made in furtherance of the Project. Issuance of the Note to finance or refinance the Project satisfies a public purpose. (D) Debt service on the Note will be secured by a covenant to budget, appropriate and deposit Non-Ad Valorem Revenues as provided herein. The Pledged Revenues will be sufficient to pay the principal and interest on the Note herein authorized, as the same become due, and to make all deposits required by this Resolution. (E) The City shall never be required to levy ad valorem taxes or use the proceeds thereof to pay debt service on the Note or to make any other payments to be made hereunder or to maintain or continue any of the activities of the City which generate user service charges, regulatory fees or any Non-Ad Valorem Revenues. The Note shall not constitute a lien on any property owned by or situated within the city limits of the City. (F) It is estimated that the Non-Ad Valorem Revenues will be available after satisfying funding requirements for obligations having an express lien on or pledge thereof and after satisfying funding requirements for essential governmental services of the City, in City of Bunnell Resolution

36 amounts sufficient to provide for the payment of the principal of and interest on the Note and all other payment obligations hereunder. (G) The City has received an offer from the Original Purchaser to purchase the Note. (H) In consideration of the purchase and acceptance of the Note authorized to be issued hereunder by those who shall be the Owner thereof from time to time, this Resolution shall constitute a contract between the City and the Original Purchaser or any subsequent Owner. Section 4. Authorization of Note and the Project. Subject and pursuant to the provisions of this Resolution, an obligation of the City to be known as the "City of Bunnell, Florida Non-Ad Valorem Revenue Note, Series 2015" is hereby authorized to be issued under and secured by this Resolution in the principal amount of $825,000 for the purpose of financing and/or refinancing the Project and paying the costs of issuing the Note. The Project is hereby authorized. Payment of such costs of issuance is hereby authorized. Because of the characteristics of the Note, prevailing market conditions, and additional savings to be realized from an expeditious sale of the Note, it is in the best interest of the City to accept the offer of the Original Purchaser to purchase the Note at a private negotiated sale, which was based upon a competitive selection process. Prior to the issuance of the Note, the City shall receive from the Original Purchaser a Purchaser s Certificate, in substantially the form attached hereto as Exhibit B and a Disclosure Statement containing the information required by Section , Florida Statutes, in substantially the form attached hereto as Exhibit C. Section 5. This Resolution to Constitute Contract. In consideration of the acceptance of the Note authorized to be issued hereunder by those who shall hold the same from time to time, this Resolution shall be deemed to be and shall constitute a contract between the City and the Owner. The covenants and agreements herein set forth to be performed by the City shall be for the equal benefit, protection and security of the legal owner of the Note, all of which shall be of equal rank and without preference, priority or distinction of the Note over any other thereof, except as expressly provided therein and herein. Section 6. Description of the Note. The Note shall be dated the date of its execution and delivery, which shall be a date agreed upon by the City and the Original Purchaser, subject to the following terms: (A) Interest Rate. The Note shall have a fixed interest rate of 2.80% per annum (the "Interest Rate") calculated on a 30/360-day basis. City of Bunnell Resolution

37 (B) Principal and Interest Payment Dates. Interest on the Note shall be paid quarterly on each January 1, April 1, July 1 and October 1, commencing April 1, Principal on the Note shall be paid in the amounts and on the dates set forth in the Note with a final maturity date of the Maturity Date. (C) in the Note. Prepayment of the Note. The Note shall be subject to prepayment as described (D) Form of the Note. The Note is to be in substantially the form set forth in Exhibit A attached hereto, together with such non-material changes as shall be approved by the Mayor and the City Manager, such approval to be conclusively evidenced by the execution thereof by the Mayor and the City Manager. (E) Original Denomination. The Note shall originally be issued in a single denomination equal to the original principal amount authorized hereunder, which denomination shall decrease commensurate with the reduction of principal as it is paid. Section 7. Execution and Authentication of Note. The Note shall be executed in the name of the City by the Mayor, attested by the City Clerk, approved as to form and correctness by the City Attorney, and its corporate seal or a facsimile thereof shall be affixed thereto or reproduced thereon. The Note may be signed and sealed on behalf of the City by any person who at the actual time of the execution of such Note shall hold the appropriate office in the City, although at the date thereof the person may not have been so authorized. Section 8. Registration and Exchange of the Note; Persons Treated as Owner. The Note is initially registered to the Original Purchaser. So long as the Note shall remain unpaid, the City will keep books for the registration and transfer of the Note. The Note shall be transferable in whole and not in part and only upon such registration books. The Person in whose name the Note shall be registered shall be deemed and regarded as the absolute Owner thereof for all purposes, and payment of principal and interest on such Note shall be made only to or upon the written order of the Owner. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Note to the extent of the sum or sums so paid. Section 9. Payment of Principal and Interest; Limited Obligation. The City promises that it will promptly pay the principal of and interest on the Note at the place, on the dates and in the manner provided therein according to the true intent and meaning hereof and thereof. The Note is secured by a pledge of and lien upon the Pledged Revenues in the manner and to the extent described herein. The Note shall not be or constitute a general obligation or indebtedness of the City as a "bond" within the meaning of Article VII, Section 12 of the Constitution of Florida, but shall be payable solely from the Pledged Revenues in accordance City of Bunnell Resolution

38 with the terms hereof. No Owner of the Note issued hereunder shall ever have the right to compel the exercise of any ad valorem taxing power or the use of Ad Valorem Revenues to pay such Note, or be entitled to payment of such Note from any funds of the City except from the Pledged Revenues as described herein. Section 10. Covenant to Budget and Appropriate. (A) Subject to the next paragraph, the City covenants and agrees and has a positive and affirmative duty to appropriate in its annual budget, by amendment, if necessary, from Non-Ad Valorem Revenues, and to deposit into the Debt Service Fund hereinafter created, amounts sufficient to pay principal of and interest on the Note not being paid from other amounts as the same shall become due. Such covenant and agreement on the part of the City to budget, appropriate and deposit such amounts of Non-Ad Valorem Revenues shall be cumulative to the extent not paid, and shall continue until such Non-Ad Valorem Revenues or other legally available funds in amounts sufficient to make all such required payments shall have been budgeted, appropriated, deposited and actually paid. No lien upon or pledge of such budgeted Non-Ad Valorem Revenues shall be in effect until such monies are budgeted, appropriated and deposited as provided herein. The City further acknowledges and agrees that the obligations of the City to include the amount of such appropriations in each of its annual budgets and to pay such amounts from Non-Ad Valorem Revenues may be enforced in a court of competent jurisdiction in accordance with the remedies set forth herein. Until such monies are budgeted, appropriated and deposited as provided herein, such covenant to budget and appropriate does not create any lien upon or pledge of such Non-Ad Valorem Revenues, nor does it preclude the City from pledging in the future its Non-Ad Valorem Revenues, nor does it require the City to levy and collect any particular Non-Ad Valorem Revenues, nor does it give the Owner of the Note a prior claim on the Non-Ad Valorem Revenues as opposed to claims of general creditors of the City. Such covenant to budget and appropriate Non-Ad Valorem Revenues is subject in all respects to the prior payment of obligations secured by a lien on and pledge of specific components of the Non-Ad Valorem Revenues heretofore or hereafter entered into (including the payment of debt service on bonds and other debt instruments). Anything in this Resolution to the contrary notwithstanding, it is understood and agreed that all obligations of the City hereunder shall be payable from the portion of Non-Ad Valorem Revenues budgeted, appropriated and deposited as provided for herein and nothing herein shall be deemed to pledge ad valorem tax power or Ad Valorem Revenues or to permit or constitute a mortgage or lien upon any assets owned by the City and no Owner of the Note nor any other person, may compel the levy of ad valorem taxes on real or personal property within the boundaries of the City or the use or application of Ad Valorem Revenues in order to satisfy any payment obligations hereunder or to maintain or continue any of the activities of the City which generate user service charges, regulatory fees, or any other Non-Ad Valorem Revenues. Notwithstanding any provisions of this Resolution or the Note to the contrary, the City shall never be obligated to maintain or continue any of the activities of the City which generate user service charges, regulatory fees or any Non-Ad City of Bunnell Resolution

39 Valorem Revenues. Until such monies are budgeted, appropriated and deposited as provided herein, neither this Resolution nor the obligations of the City hereunder shall be construed as a pledge of or a lien on all or any legally available Non-Ad Valorem Revenues of the City, but shall be payable solely as provided herein subject to the availability of Non-Ad Valorem Revenues after satisfaction of funding requirements for obligations having an express lien on or pledge of such revenues, payment of services and programs which are for essential public purposes affecting the health, welfare and safety of the inhabitants of the City, and the provisions of Section , Florida Statutes, insofar as there are not sufficient Non-Ad Valorem Revenues to comply with such covenant after the satisfaction of the funding requirements for obligations having an express lien on or pledge of such revenues and the funding requirements for essential governmental services of the City. There is hereby created and established the "City of Bunnell, Florida Non-Ad Valorem Revenue Note, Series 2015 Debt Service Fund," which fund shall be a trust fund held by the City Manager, which shall be held solely for the benefit of the Owner of the Note. The Debt Service Fund shall be deemed to be held in trust for the purposes provided herein for such Debt Service Fund. The money in such Debt Service Fund shall be continuously secured in the same manner as state and municipal deposits are authorized to be secured by the laws of the State. The designation and establishment of the Debt Service Fund in and by this Resolution shall not be construed to require the establishment of a completely independent, self-balancing fund as such term is commonly defined and used in governmental accounting, but rather is intended solely to constitute an earmarking of certain revenues and assets of the City for certain purposes and to establish certain priorities for application of such revenues and assets as herein provided. The City may at any time and from time to time appoint one or more depositaries to hold, for the benefit of the Owner of the Note, the Debt Service Fund established hereby. Such depository or depositaries shall perform at the direction of the City the duties of the City in depositing, transferring and disbursing moneys to and from such Debt Service Fund as herein set forth, and all records of such depository in performing such duties shall be open at all reasonable times to inspection by the City and its agent and employees. Any such depository shall be a bank or trust company duly authorized to exercise corporate trust powers and subject to examination by federal or state authority, of good standing, and having a combined capital, surplus and undivided profits aggregating not less than fifty million dollars ($50,000,000). (B) Until applied in accordance with this Resolution, the Non-Ad Valorem Revenues of the City on deposit in the Debt Service Fund and other amounts on deposit from time to time therein, plus any earnings thereon, are pledged to the repayment of the Note. Section 11. Application of Proceeds of Note. The City will apply the proceeds of the Note to pay associated costs of issuance (including but not limited to legal fees and expenses), and the balance of the proceeds of the Note will be applied, together with other legally available funds of the City, if any, toward payment of the principal balance of the Line of Credit in order to finance and/or refinance the Project. City of Bunnell Resolution

40 The funds and accounts created and established by this Resolution shall constitute trust funds for the purpose provided herein for such funds. Moneys on deposit to the credit of all funds and accounts created hereunder may be invested pursuant to applicable law and the City's written investment policy and shall mature not later than the dates on which such moneys shall be needed to make payments in the manner herein provided. The securities so purchased as an investment of funds shall be deemed at all times to be a part of the account from which the said investment was withdrawn, and the interest accruing thereon and any profit realized therefrom shall be credited to such fund or account, except as expressly provided in this Resolution, and any loss resulting from such investment shall likewise be charged to said fund or account. Section 12. Tax Covenant. The City covenants to the Owner of the Note provided for in this Resolution that the City will not make any use of the proceeds of the Note at any time during the term of the Note which, if such use had been reasonably expected on the date the Note was issued, would have caused such Note to be an "arbitrage bond" within the meaning of the Code. The City will comply with the requirements of the Code and any valid and applicable rules and regulations promulgated thereunder necessary to ensure the exclusion of interest on the Note from the gross income of the Owner thereof for purposes of federal income taxation. Section 13. Amendment. This Resolution shall not be modified or amended in any respect subsequent to the issuance of the Note, except with the written consent of the Owner of the Note. Section 14. Limitation of Rights. With the exception of any rights herein expressly conferred, nothing expressed or mentioned in or to be implied from this Resolution or the Note is intended or shall be construed to give to any Person other than the City and the Owner any legal or equitable right, remedy or claim under or with respect to this Resolution or any covenants, conditions and provisions herein contained; this Resolution and all of the covenants, conditions and provisions hereof being intended to be and being for the sole and exclusive benefit of the City and the Owner. Section 15. Note Mutilated, Destroyed, Stolen or Lost. In case any of the Note shall become mutilated, or be destroyed, stolen or lost, the City shall issue and deliver a new Note of like tenor as the Note so mutilated, destroyed, stolen or lost, in exchange and in substitution for such mutilated Note, or in lieu of and in substitution for the Note destroyed, stolen or lost and upon the Owner furnishing the City proof of ownership thereof and indemnity reasonably satisfactory to the City and complying with such other reasonable regulations and conditions as the City may prescribe and paying such expenses as the City may incur. The Note so surrendered shall be canceled. City of Bunnell Resolution

41 Section 16. Impairment of Contract. The City covenants with the Owner of the Note that it will not, without the written consent of the Owner of the Note, enact any ordinance or adopt any resolution which repeals, impairs or amends in any manner adverse to the Owner the rights granted to the Owner of the Note hereunder. Section 17. Events of Default; Remedies of Owner of the Note. The following shall constitute "Events of Default": (i) if the City fails to pay any payment of principal of or interest on the Note as the same becomes due and payable and is not cured within ten days; (ii) if the City defaults in the performance or observance of any covenant or agreement contained in this Resolution or the Note (other than set forth in (i) above) and fails to cure the same within thirty (30) days following notice thereof; or (iii) filing of a petition by or against the City relating to bankruptcy, reorganization, arrangement or readjustment of debt of the City or for any other relief relating to the City under the United States Bankruptcy Code, as amended, or any other insolvency act or law now or hereafter existing, or the involuntary appointment of a receiver or trustee for the City, and the continuance of any such event for 90 days undismissed or undischarged. Upon the occurrence and during the continuation of any Event of Default, the Owner of the Note may, in addition to any other remedies set forth in this Resolution or the Note, either at law or in equity, by suit, action, mandamus or other proceeding in any court of competent jurisdiction, protect and enforce any and all rights under the laws of the State, or granted or contained in this Resolution, and may enforce and compel the performance of all duties required by this Resolution, or by any applicable statutes to be performed by the City. In case of an Event of Default described in (i) above, the City shall also be obligated to pay as part of the indebtedness evidenced by the Note, all costs of collection and enforcement thereof, including such reasonable attorneys' fees as may be incurred at all levels of the proceedings, including on appeal or incurred in any proceeding under any bankruptcy laws as they now or hereafter exist. Section 18. Annual Audit; Budget. The City shall, immediately after the close of each Fiscal Year, cause the financial statements of the City to be properly audited by a recognized independent certified public accountant or recognized independent firm of certified public accountants, and shall require such accountants to complete their report on the annual financial statements in accordance with applicable law. The annual financial statements shall be prepared in conformity with generally accepted accounting principles. The City shall annually provide to the Original Purchaser a copy of its audited financial statements within 210 days of the Fiscal Year end. The City shall provide such other financial information relating to the ability of the City to pay the Note that is not otherwise exempt from disclosure under Section , Florida Statutes, as may be reasonably requested by the Original Purchaser. City of Bunnell Resolution

42 Section 19. Business Days. In any case where the due date of interest on or principal of a Note is not a Business Day, then payment of such principal or interest need not be made on such date but may be made on the next succeeding Business Day, provided that credit for payments made shall not be given until the payment is actually received by the Owner. Section 20. Applicable Provisions of Law. This Resolution shall be governed by and construed in accordance with the laws of the State of Florida. Section 21. Rules of Interpretation. Unless expressly indicated otherwise, references to sections or articles are to be construed as references to sections or articles of this instrument as originally executed. Use of the words "herein," "hereby," "hereunder," "hereof," "hereinbefore," "hereinafter" and other equivalent words refer to this Resolution and not solely to the particular portion in which any such word is used. Section 22. Captions. The captions and headings in this Resolution are for convenience only and in no way define, limit or describe the scope or intent of any provisions or sections of this Resolution. Section 23. Authorization of Other Action. The Mayor, City Manager, City Attorney and City Clerk are each designated agents of the City in connection with the execution and delivery of the Note and are authorized and empowered, collectively or individually, to take all action and steps to execute and deliver any and all instruments, documents or contracts on behalf of the City which are necessary or desirable in connection with the execution and delivery of the Note to the Original Purchaser. Section 24: Bank Qualified. The City hereby designates the Note as a "qualified taxexempt obligation" within the meaning of Section 265(b)(3) of the Code. The City and any subordinate entities of the City and any City of "tax-exempt" debt that issues "on behalf of" the City do not reasonably expect during the calendar year 2015 to issue more than $10,000,000 of "tax-exempt" obligations including the Note, exclusive of any private activity bonds as defined in Section 151(a) of the Code (other than qualified 501(c)(3) bonds as defined in Section 155 of the Code). Section 25. Repeal of Inconsistent Provisions. All resolutions or parts thereof in conflict with this Resolution are hereby repealed to the extent of such conflict. Section 26. Severability. If any one or more of the covenants, agreements, or provisions of this resolution should be held contrary to any express provision of law or contrary to the policy of express law, though not expressly prohibited, or against public policy, or shall for any reason whatsoever be held invalid, then such covenants, agreements, or provisions shall be null and void and shall be deemed separate from the remaining covenants, agreements or City of Bunnell Resolution

43 provisions, and in no way affect the validity of all other provisions of this Resolution or of the Note delivered hereunder. [Remainder of page intentionally left blank] City of Bunnell Resolution

44 Section 27. Effective Date. This Resolution shall take effect immediately upon its adoption. DULY PASSED AND ADOPTED this 23rd day of February, 2015, at a regular meeting of the City Commission of the City of Bunnell, Florida. CITY OF BUNNELL, FLORIDA (SEAL) By: Catherine D. Robinson, Mayor ATTEST: By: Sandra Bolser, City Clerk APPROVED AS TO FORM: By: Wade Vose, City Attorney City of Bunnell Resolution