File #: 26-5121    Version: 1 Name: Authorizing General Obligation Bond Issuance for Fire Station 3 Project
Type: Resolution Status: Passed
File created: 2/18/2026 In control: City Commission
On agenda: 3/5/2026 Final action: 3/5/2026
Title: Supplementing Ordinance No. 2025-03 enacted on February 4, 2025; Authorizing the issuance of the City of Key West, Florida General Obligation Bonds, Series 2026 (Public Safety - Fire Station Project) in the original aggregate principal amount of not to exceed $32,000,000; Fixing certain details of said bonds; Approving the forms of the Summary Notice of Sale and Official Notice of Sale with respect to such bonds; Delegating to the City Manager the authority to determine the principal amounts of the bonds to be issued and the bid date with respect to such bonds, to award the sale thereof to the lowest conforming bidder based on bids submitted at public sale, and to determine the terms of such sale; Approving the form and authorizing the execution and delivery of a Disclosure Dissemination Agent Agreement; Delegating authority to the City Manager to engage a Bond Registrar and Paying Agent; Approving the form and authorizing the execution of a Bond Registrar and Paying Agent Agreement, s...
Sponsors: Brian L. Barroso
Attachments: 1. Resolution, 2. Cover Memo (Finance), 3. GO Bonds Year One Estimation by Property Type, 4. GO Bonds Multi-Year Homestead Scenario Summary, 5. Ordinance 24-17, 6. Ordinance 25-03

Title

Supplementing Ordinance No. 2025-03 enacted on February 4, 2025; Authorizing the issuance of the City of Key West, Florida General Obligation Bonds, Series 2026 (Public Safety - Fire Station Project) in the original aggregate principal amount of not to exceed $32,000,000; Fixing certain details of said bonds; Approving the forms of the Summary Notice of Sale and Official Notice of Sale with respect to such bonds; Delegating to the City Manager the authority to determine the principal amounts of the bonds to be issued and the bid date with respect to such bonds, to award the sale thereof to the lowest conforming bidder based on bids submitted at public sale, and to determine the terms of such sale; Approving the form and authorizing the execution and delivery of a Disclosure Dissemination Agent Agreement; Delegating authority to the City Manager to engage a Bond Registrar and Paying Agent; Approving the form and authorizing the execution of a Bond Registrar and Paying Agent Agreement, subject to such revisions as shall be approved by the City Manager and City Attorney; Approving the form and authorizing the distribution of a Preliminary Official Statement and authorizing the execution and delivery of an Official Statement pertaining to the bonds; Authorizing certain officials of the City to execute any document or to take any actions required in connection with issuance of the bonds; Providing certain other matters in connection with issuance of the bonds; Providing certain other matters in connection therewith; Providing for the severability.