HomeMy WebLinkAboutAgenda Item Sumamry FormAGENDA ITEM SUMMARY FORM
File ID: #9436
' Ba94 Q
Date: 07/22/2021 Requesting Department: C
Commission Meeting Date: 07/22/2021 Sponsored By:
District Impacted:
Type: Resolution
Subject: CityCoins Donation from MiamiCoin
Budget Impact Analysis
Total Fiscal Impact:
Reviewed By
Commission
City Commission
Nicole Ewan
Meeting
Completed
07/22/2021 9:00 AM
Legislative Division
Valentin J Alvarez
Legislative Division Review
Completed
07/22/2021 8:44 PM
Office of the City Attorney
Pablo Velez
ACA Review
Completed
07/22/2021 9:32 PM
Office of Management and Budget
Leon P Michel
Budget Review
Completed
07/23/2021 11:26 AM
Office of the City Attorney
Barnaby L. Min
Deputy Attorney Review
Completed
07/25/2021 8:45 AM
Office of the City Attorney
Victoria Mendez
Approved Form and Correctness
Completed
08/03/2021 11:42 AM
Office of the City Clerk
City Clerk's Office
Rendered
Completed
08/03/2021 3:15 PM
GSY v
City of Miami
*'y IS°1°1 f1 A'fto
Legislation
Resolution
Enactment Number: R-21-0326
File Number: 9436
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date:7/22/2021
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE CITY
MANAGER TO CONDUCT THE DUE DILIGENCE NECESSARY TO ACCEPT A
DONATION OF THIRTY PERCENT (30%) OF THE REVENUES GENERATED FROM
THE SALE OF MIAMICOIN, A CRYPTOCURRENCY ("DONATION"), FROM
CITYCOINS, INC., A DELAWARE NONPROFIT CORPORATION PENDING
REGISTRATION TO CONDUCT BUSINESS IN THE STATE OF FLORIDA
("CITYCOINS"); AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND
EXECUTE ANY AND ALL DOCUMENTS NECESSARY, ALL IN FORMS
ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID DONATION.
WHEREAS, CityCoins, Inc., a Delaware nonprofit corporation pending registration to
conduct business in the State of Florida ("CityCoins"), will soon go to market with its MiamiCoin,
a cryptocurrency powered by the Stacks Protocol, which enables smart contracts on Bitcoin;
and
WHEREAS, presumably, MiamiCoin provides a means by which people can support the
City of Miami ("City") and grow a crypto treasury while earning Bitcoin and Stacks Protocol yield
for themselves; and
WHEREAS, presumably, the CityCoins offering of the MiamiCoin would provide an
ongoing crypto revenue stream; and
WHEREAS, CityCoins would provide the City with thirty percent (30%) of said ongoing
crypto revenue stream ("Donation"); and
WHEREAS, the City Manager seeks authorization to conduct the due diligence
necessary to accept the Donation from CityCoins;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble of this Resolution are
adopted by reference and incorporated as if fully set forth in this section.
Section 2. The City Manager is authorized' to conduct the due diligence necessary to
accept the Donation from CityCoins.
Section 3. The City Manager is further authorized' to negotiate and execute any and all
documents necessary, all in forms acceptable to the City Attorney, for said Donation.
' The herein authorization is further subject to compliance with all requirements that may be imposed by
the City Attorney, including but not limited to, those prescribed by applicable City Charter and City Code
provisions.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
ria i dez, ity ttor �ey 813/202.1
Pursuant to the resolution, this item became effective immediately upon adoption by the Commission.