HomeMy WebLinkAboutMaster ReportCON, 01-4, City of Miami
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Master Report
File Number: 8444
Revision:
Enactment Number: R-21-0046
File Type: Resolution
File Name: Intent to Reimburse from Bond Funds for Tranche 2
of Miami Forever Bonds
Requesting Dept: Commissioners and Mayor
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Status: ADOPTED
Controlling Body: City Commission
Introduced: 1 /5/2021
Final Action Date: 1/28/2021
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
DECLARING THE OFFICIAL INTENT OF THE CITY OF MIAMI ("CITY") TO ISSUE IN
TRANCHE 2 BOTH TAXABLE AND TAX-EXEMPT GENERAL OBLIGATION BONDS
PAYABLE FROM AD VALOREM TAXES PROVIDED THAT THE CAPITAL PROJECTS
DEBT MILLAGE NOT EXCEED THE RATE OF 0.5935 MILLS IN ACCORDANCE WITH
THE NOVEMBER 7, 2017 BOND REFERENDUM APPROVED BY THE VOTERS IN AN
INITIAL EXPECTED NOT TO EXCEED TOTAL MAXIMUM PRINCIPAL AMOUNT OF
FORTY MILLION DOLLARS ($40,000,000.00) IN ORDER TO, AMONG OTHER
THINGS, REIMBURSE THE CITY FOR FUNDS ADVANCED BY THE CITY FOR
CERTAIN EXPENSES INCURRED WITH RESPECT TO CAPITAL PROJECTS TO BE
UNDERTAKEN BY THE CITY TO IMPROVE AFFORDABLE HOUSING WITHIN THE
CITY'S LIMITS (COLLECTIVELY, "TRANCHE 2 MIAMI FOREVER AFFORDABLE
HOUSING LIMITED AD VALOREM BONDS"), ALL AS INDICATED IN THE CITY
MANAGER'S MEMORANDUM AND PROPOSED SEVEN (7) AFFORDABLE HOUSING
STRATEGIES IN COMPOSITE EXHIBIT "A," ATTACHED AND INCORPORATED
(COLLECTIVELY, "TRANCHE 2 STRATEGIES FOR AFFORDABLE HOUSING
PROJECTS"); ESTABLISHING CERTAIN RELATED DEFINITIONS OF TERMS;
AUTHORIZING CERTAIN FURTHER AND INCIDENTAL ACTIONS BY THE CITY
MANAGER, DESIGNATED CITY OFFICIALS, AND DEPARTMENTS, IN
CONSULTATION WITH THE CITY ATTORNEY AND SUCH OTHER APPROPRIATE
OFFICERS, EMPLOYEES, AND AGENTS OF THE CITY AS NECESSARY, ALL AS
REQUIRED FOR PURPOSES OF SECTIONS 103 AND 141-150 OF THE UNITED
STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, THE LAWS OF THE
STATE OF FLORIDA ("STATE LAWS"),THE CHARTER OF THE CITY OF MIAMI,
FLORIDA, AS AMENDED ("CITY CHARTER"), AND THE CODE OF THE CITY OF
MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), AND FOR COMPLIANCE
THEREWITH; FURTHER AUTHORIZING RELATED AMENDMENTS TO THE CITY'S
MULTI -YEAR CAPITAL PLAN AS NECESSARY.
Sponsor(s): Commissioner Ken Russell, Commissioner Jeffrey Watson
Notes:
Links:
Attachments: 8444 Exhibit A (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Victoria Mendez 1/19/2021 Approved Form and Completed
Correctness
City of Miami Page 1 of 2 Printed on: 21812021
CON, 01-411
City of Miami City Hall
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3500
Pan American Drive
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Miami, FL 33133
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Master Report
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www.miamigov.com
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Enactment Number: R-21-0046
City Commission
1/28/2021 Meeting
Completed
City Commission
1/28/2021 ADOPTED
Passed
Mayor's Office
2/8/2021 Signed by the Mayor
Completed
City Clerk's Office
2/8/2021 Signed and Attested by the City
Completed
Clerk
City Clerk's Office
2/8/2021 Rendered
Completed
City of Miami Page 2 of 2 Printed on: 21812021