eLaws | eCases | Florida State | Florida Administrative Code | Florida Courts | Counties & Cities of Florida | Code of Federal Regulations | United States Code |
 Jacksonville
 Code of Ordinances
 Title XXII. TAXATION
 Chapter 761. THE BETTER JACKSONVILLE PLAN

  § 761.107. Committees.  

Latest version.

  • Two committees shall provide additional oversight and review of the projects, as financed by The Better Jacksonville ½ Cent Sales Surtax. These two additional committees are the Financial Administration Committee ("FAC") and the "Project Administration Committee ("PAC"). The membership and duties of these committees are as follows:

    (a)

    The FAC shall consist of the Managing Director of JEA, the Chief Administrative Officer of the City, or their respective designees, and a citizen within the financial business community of the City who shall not be associated with any of the financial components of The Better Jacksonville Plan, including auditing or bonding; in the alternative, a citizen who has had involvement in municipal, County or other governmental financing. In addition, two private citizens who are not affiliated with or employed by any business or occupation that would be involved in the implementation of The Better Jacksonville Plan Projects shall serve as members. Such involvement includes financing, planning, real estate, design, construction or other similar businesses or occupations. All of said citizen members of the FAC shall be appointed by the Mayor, and confirmed by the Council, for a five-year term with the possibility of serving one additional five-year term in the discretion of the Mayor and confirmation by the Council; provided however, the citizen members shall serve no more than two full terms. The Council Auditor, or designee, shall be a nonvoting member. The FAC shall meet at the call of the Chair or any member, but no less than quarterly. The Chair shall rotate on an annual basis, commencing with the City's Chief Administrative Officer. The Council Auditor, or designee, and the citizen members shall not be eligible to serve as Chair. The FAC shall determine and assess the general conditions of the market for municipal bonds and notes (including opportunities for the efficient use of bond anticipation notes, other bridge financing and refunding bonds), and other appropriate financial markets, including advice regarding advantageous maturities and maturity structures, sinking fund and defeasance provisions, interest rate provisions, redemption provisions, credit enhancement opportunities, interest rate hedging opportunities, method of sale, investment opportunity and similar matters. The FAC shall take into account the effect of the terms of each series to be issued on all of The Better Jacksonville Plan Projects in order that The Better Jacksonville Plan, as an entirety, may be efficiently financed. The foregoing sentence shall apply equally to any series of refunding bonds issued to refund any bonds, which refunding bonds may only be issued with the unanimous consent of FAC or the Mayor, as provided as follows: It is intended that the issuance of bonds be provided in a manner necessary to provide funds for The Better Jacksonville Plan Projects on a timely basis when such projects are ready to be commenced. The FAC shall meet as determined by the Chair or at the request of an individual member for the purpose of coordinating the respective needs of the City for the issuance of bonds with the intent that each series of bonds be sized and structured in the most efficient manner possible. The timing and amount of each series of bonds shall be as executed by the City to timely construct The Better Jacksonville Plan Projects. Upon dissent of any voting member of the FAC, as to matters involving the issuance of bonds, the final determination, on such issuance, will be made by the Mayor after review of supportive documentation given to the Mayor and any dissenting FAC member.

    (b)

    The PAC shall consist of the Executive Director of the Jacksonville Transportation Authority, the City's Director of Public Works and the Managing Director of JEA or their respective designees. In addition, two private citizens who are not affiliated with or employed by any business or occupation that would be involved in the implementation of The Better Jacksonville Plan Projects shall serve as members. Such involvement includes financing, planning, real estate, design, construction or other similar businesses or occupations. The citizen members of the PAC shall be appointed by the Mayor, and confirmed by the Council, for a five-year term with the possibility of serving one additional five-year term in the discretion of the Mayor and confirmation by the Council; provided however, the citizen members shall serve no more than two full terms. The general engineering consultant of Jacksonville Transportation Authority and Public Works Department's general engineering consultant, or their respective designees, shall be nonvoting members. The PAC shall meet at the call of the Chair or any member, but no less than quarterly. The Chair shall rotate on an annual basis among committee members commencing with the Executive Director of the Jacksonville Transportation Authority. The nonvoting member(s) and the citizen members shall not be eligible to serve as Chair. The City shall be primarily responsible for the construction of The Better Jacksonville Plan Projects which are referenced to the City. The PAC shall study The Better Jacksonville Plan Projects with the goal of advising how to construct and complete such projects in the most efficient manner possible and to oversee execution of work of all such projects as each such project is ready to be designed, right-of-way acquired, permitted and constructed.

    (c)

    The FAC and the PAC shall prepare and present to the City Council, the Mayor and the Jacksonville Transportation Authority Board as necessary a report on the implementation, progress, status and completion of all The Better Jacksonville Plan Projects, including a summary of the financing undertaken, funds expended and planning, design, right-of-way acquisition and construction as of the reporting date. In addition, said committees shall report on the degree of cooperation of the parties hereto, and on areas of concern for the timely and proper completion of The Better Jacksonville Plan Projects. Such reports shall be given on an annual basis, within 90 days after the end of each fiscal year occurring after the effective date of The Better Jacksonville ½ Cent Sales Surtax.

(Ord. 2000-572-E, § 1)