City Commission approves charter referendum on borrowing for Nov. 5 ballot
NORTH PORT, FL - The City Commission on Tuesday approved a referendum for the Nov. 5 ballot asking voters to amend the City Charter to allow the commission to issue debt to respond to emergencies or pay for some safety and public health projects.
North Port is the only city out of 411 in the state of Florida whose charter prohibits the borrowing of money or incurring any debt without voter approval, according to research by City staff and outside consultants. Every other Florida city and county routinely relies on borrowing – in the form of bonds, loans, leases or other borrowing instruments – to pay for growth and infrastructure needs and keep their community going. In North Port, these projects could include roads, bridges, water control structures or water/wastewater infrastructure.
The charter amendment would allow the City to issue debt payable from funds other than property taxes without voter approval in response to declared emergencies or for safety and public health projects of $15 million or less per project.
The proposed charter change will only apply to revenue bonds that are paid back by dedicated revenue funds, not property taxes. Any borrowing or incurrence of debt would need to be approved by a majority of the City Commission in at least two public hearings.
General obligation bonds – those paid back using property taxes – would still need to be approved by voter referendum in a general election on an individual basis. General obligation bonds are typically used to pay for large-scale infrastructure projects, such as a police headquarters.
Commissioners have also directed staff to develop a robust debt management policy that will ensure responsible and affordable use of debt financing for the City's capital needs. The debt management policy is tentatively scheduled for discussion during the Sept. 9, 2024, Commission Workshop.
The City Commission also recently heard an update from staff about an informational webpage the City has created for the referendum: NorthPortFL.gov/Referendum. The site includes impartial information about the City Charter, the City’s unfunded infrastructure needs, as well as a list of Frequently Asked Questions.
The site also includes a downloadable Education Toolkit that features a PowerPoint slide deck, flyers, fact sheets, graphics and imagery; a Request for Speakers online form for community members to inquire about hosting a presentation from City officials and learn more about the referendum at a public forum; and supporting documents and videos from City Commission meeting items on this topic.
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The City of North Port is a fast-growing community filled with opportunity for both businesses and families. Home to attractions such as the Atlanta Braves spring training facility at CoolToday Park, the North Port Aquatic Center and Warm Mineral Springs Park, North Port has become a must-see destination in southwest Florida. Boasting a population of more than 94,000 and quickly growing, North Port is the ideal city where residents, businesses and visitors can flourish.
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