Measure on the ballot in the 2023 Florida Consolidated Municipal Election in Treasure Island.
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Get StartedIf passed, the City staff will bring to the Commission a debt policy that the City will use to set the terms of what the City can borrow for, how much it can borrow, and other recommendations or restrictions. This will allow the Commission to more easily adjust the debt policy based on the economy and best practices that allow the City to conduct municipal borrowing in a more competitive manner. Also, if passed the City could entertain more competitive loan proposals that focus on all attributes of a loan proposal, not only the net interest cost. Lastly, the single project limit would be eliminated, which would enable the City to pursue projects that may exceed $12.8 million in cost, where some of the funding may be coming from grants or a private agreement such as a public-private partnership.
The City's Charter will remain without the proposed amendment. This will limit the City's ability to negotiate for more competitive municipal borrowing and limit the ability for the City to pursue opportunities where the funding may come from a number of different sources.
Shall Section 4.10 of the City of Treasure Island, Florida's Charter be amended to update requirements regarding the City's budget to reflect current accounting standards and revise the provisions regarding municipal borrowing (to delete restrictions on borrowing by the City while retaining those restrictions required by the Florida Constitution), as set out and proposed by the City of Treasure Island in Ordinance 2022-21?
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