The City Commission of the City of Pompano Beach shall have the power to provide by ordinance for the issuance and sale of revenue bonds or certificates to provide money to finance or refinance the cost or part of the cost of acquisition, construction, reconstruction, improvement, extension or operation of any utility, facility, enterprise, work, undertaking or project which said city is authorized by law to acquire, construct, reconstruct, improve, extend and operate to provide that such revenue bonds or certificates and interest thereon, shall be payable from the revenue to be derived by the city from the operation of the same. Such ordinance may be adopted at a regular or special meeting by a majority vote of the City Commission and at the same meeting at which it is introduced, to take effect immediately upon its passage. It is determined and declared as a matter of legislative intent that no election to authorize the issuance of revenue bonds or certificates as provided herein shall be necessary. No other proceedings or procedures of any character whatever shall be necessary or required for the issuance of such revenue bonds or certificates by the municipality; but such revenue bonds or certificates may be validated by circuit court decree, if desired, in the same manner as general obligation bonds are validated. The words “revenue bonds” and “revenue certificates” are used interchangeably herein and the provisions applicable to one are applicable to the other.
Editor's note:
Section 1 of Ch. 61-2711, ratified by the electors on August 15, 1961, directed that the title to Article XIX, Ch. 57-1754 be changed from “Revenue Bonds or Certificates” to “Revenue Bonds or Certificates and Excise Tax Bonds or Certificates.”
