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Commission briefed on reimbursement resolution to preserve future debt reimbursement for garage and parkland acquisitions
Summary
Staff presented a reimbursement resolution that would allow costs for a future downtown parking garage and parkland acquisition to be reimbursable from future bond proceeds; staff said the resolution does not commit the city to issue debt but preserves reimbursement authority.
City staff told the commission that a reimbursement resolution would allow the city to treat certain pre‑issuance costs for two potential projects — a downtown parking garage and land acquisition for a future park in southeast Winter Haven — as reimbursable from future debt proceeds. Staff emphasized the resolution is a procedural step to preserve the city’s ability to reimburse eligible expenditures if the commission later elects to issue bonds; it does not obligate the city to borrow. Staff said the city has used similar reimbursement resolutions for prior debt issuances during their tenure. Staff recommended the commission adopt the reimbursement resolution to safeguard potential reimbursement for eligible pre‑issuance costs; no formal vote is recorded in the provided transcript excerpt.
