Title
RESOLUTION NO. 25R-12-240: A RESOLUTION OF THE CITY OF LAUDERHILL, FLORIDA, SUBMITTING TO REFERENDUM QUESTIONS TO THE QUALIFIED ELECTORS OF THE CITY OF LAUDERHILL, FLORIDA AUTHORIZING THE ISSUANCE OF NOT EXCEEDING SIXTY-FIVE MILLION DOLLARS ($65,000,000) AGGREGATE PRINCIPAL AMOUNT (WITHOUT REGARD TO ORIGINAL ISSUE DISCOUNT OR PREMIUM) OF GENERAL OBLIGATION BONDS OF THE CITY OF LAUDERHILL, FLORIDA, IN ONE OR MORE SERIES, FOR CAPITAL IMPROVEMENTS; PROVIDING FOR NOTICE OF THE BOND REFERENDUM ELECTION TO BE PUBLISHED IN ACCORDANCE WITH THE CHARTER AND CODE OF ORDINANCES OF THE CITY OF LAUDERHILL, FLORIDA, AND CHAPTER 100, FLORIDA STATUTES, AS AMENDED; PROVIDING FOR THE PLACE AND PLACES WHERE THE BOND REFERENDUM ELECTION IS TO BE HELD; PROVIDING FOR AUTHORIZATION AND DIRECTION TO THE CITY CLERK TO PERFORM CERTAIN DUTIES AND FUNCTIONS IN ACCORDANCE WITH THIS RESOLUTION; PROVIDING FOR OTHER MATTERS IN CONNECTION WITH THE FOREGOING; PROVIDING FOR SEVERABILITY AND REPEALING CLAUSES; AND PROVIDING FOR AN EFFECTIVE DATE.
Body
Request Action:
Pass a resolution approving the issuance of General Obligation Bonds for three (3) various categories totaling $65,000,000 including the estimated costs of issuance for said bonds, and providing for and calling for a bond referendum authorizing three questions to be placed on the primary election ballot on March 10, 2026.
Need:
Pass a Resolution to call a referendum to authorize three questions to be placed on the Election Ballot on March 10, 2026 regarding General Obligation (GO) Bond Improvements and approve reimbursement resolutions for financing.
Summary Explanation/ Background:
The City has developed a list of capital improvements located or to be located within the boundaries of the City which may be financed (or the cost of which may be reimbursed), all or in part, with proceeds of its general obligation bonds and other legally available funds. The request is to approve a resolution which will authorize three questions relating to these improvements (public safety projects, parks improvements projects, and transportation and roadway projects) to be placed on the March 10, 2026 ballot. If approved, the amount of the general obligation bond will be $65,000,000.00.
Attachments:
List of proposed improvements to be considered with proposed costs.
Cost Summary/ Fiscal Impact:
$65,000,000 which represents the costs of improvements as well as estimated costs of issuance of the bonds.
Estimated Time for Presentation:
Master Plan:
Goal 1: Clean, Green Sustainable Environment
[ ] Increase mass transit ridership [ X ] Reduce City energy consumption
[ ] Reduce water consumption
Goal 2: Safe and Secure City of Lauderhill
[ X ] Crime in lower 50% in Broward [ X ] Residents feel safe in neighborhood
[ ] Reduce emergency fatalities
Goal 3: Open Spaces and Active Lifestyle for all ages
[ ] Increase participation in youth sports [ X ] Add new park land and amenities
[ X ] Increase attendance at cultural programs and classes
Goal 4: Growing Local Economy, Employment and Quality of Commercial Areas
[ ] Increase commercial tax base [ ] Increase employment in Lauderhill businesses
[ ] Decrease noxious and blighted uses in commercial areas
Goal 5: Quality Housing at all Price Ranges and Attractive Communities
[ ] Neighborhood signs and active HOAs [ X ] Housing & streets improved, litter reduced
[ ] Increase proportion of single family homes and owner occupied housing
Goal 6: Efficient and Effective City Government, Customer Focused & Values Diversity
[ X ] Improves City efficiency [ ] Increase use of Information Technology
[ X ] Increases residents perception of Lauderhill as an excellent place to live