• TOWN OF LONGBOAT KEY, FLORIDA ...

TOWN OF LONGBOAT KEY, FLORIDA NOTICE OF GENERAL OBLIGATION BOND REFERENDUM FOR FINANCING IMPROVEMENTS OF THE TOWN'S FIRE STATIONS To be held on Tuesday, March 20, 2018, as provided by Ordinance 2017-18 of the Town Commission, as governing body of the Town of Longboat Key, Florida adopted on November 6, 2017 Notice is hereby given that a bond referendum will be held in the Town of Longboat Key, Florida on Tuesday, March 20, 2018. The bond referendum will be held to determine whether there shall be issued general obligation bonds and/or notes (the "Bonds") of the Town, in one or more series, in an amount not exceeding Five Million Eight Hundred Ninety Five Thousand Dollars ($5,895,000.00). The Bonds shall be general obligations of the Town and shall be secured by the full faith, credit and unlimited ad valorem taxing power of the Town. The Bonds shall mature in not more than twenty-five (25) years from issuance, and the Bonds shall bear interest at a rate not exceeding the maximum rate permitted by law at the time of the sale of the Bonds. The monies received and interest earned from the issuance of the Bonds will be used to finance the design, demolition, construction, replacement, reconstruction, renovation, improvement and/or equipping of the Town's fire stations. Town Ordinance 2017-18, adopted by the Town Commission on November 6, 2017, authorized the holding of such bond referendum, described the purpose of the Bonds and approved the following ballot question for the referendum: Approving General Obligation Bonds/Notes to Finance Improvement of the Town's Fire Stations Shall Town of Longboat Key be authorized to issue general obligation bonds/notes, in one or more series, not exceeding $5,895,000.00, bearing interest not exceeding maximum legal rates, maturing not later than 25 years from issuance, payable from the Town's ad valorem tax revenues and full faith, credit and unlimited ad valorem taxing power, to finance the design, demolition, construction, replacement, reconstruction, renovation, improvement and/or equipping of the north and south fire stations? __________ Yes - For Bonds/Notes __________ No - Against bonds/Notes Copies of Ordinance 2017-18 are available in the office of the Town Clerk, 501 Bay Isles Road, Longboat Key, 34228. In accordance with the Constitution and laws of the State of Florida and the Charter of the Town of Longboat Key, all qualified electors of the Town of Longboat Key, Florida, shall be entitled to vote in the bond referendum to which this notice pertains. The polls at said bond referendum will be open from 7 o'clock a.m. until 7 o'clock p.m. on Tuesday, March 20, 2018, and will be held at polling places in the several precincts of the Town. The Town of Longboat Key shall be authorized to issue the Bonds covered by the question hereinabove set forth only if such issuance shall have been approved by vote of a majority of the qualified electors of the Town of Longboat Key voting thereon. By order of the Town Commission of the Town of Longboat Key, Florida. Trish Shinkle, Town Clerk Town of Longboat Key, Florida 2/13/2018, 2/27/2018