HomeMy WebLinkAboutR-02-0483J-02-449
4/25/02
RESOLUTION NO. 02— 483
A RESOLUTION OF THE MIAMI CITY COMMISSION
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AN
INTEREST RATE LOCK AGREEMENT, IN A FORM
ACCEPTABLE TO THE CI'T'Y ATTORNEY, WITH MORGAN
STANLEY, WITH THE ADVICE OF THE CITY'S
FINANCIAL ADVISOR, RELATED TO THE ISSUANCE
OF THE FIRST SERIES OF THE LIMITED TAX
GENERAL OBLIGATION BONDS APPROVED BY THE
VOTERS IN NOVEMBER; DIRECTING THE CITY
MANAGER TO PRESENT THE NEGOTIATED AGREEMENT
TO THE CITY COMMISSION FOR CONSIDERATION AT
THE MAY 9, 2002 CITY COMMISSION MEETING;
FURTHER DIRECTING THAT THE BONDS BE
AVAILABLE FOR ISSUANCE AND SALE NO LATER
THAN JULY 31, 2002.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section. 1. The City Manager is authorized" to negotiate
an Interest Rate Lock Agreement, in a form acceptable to the
City Attorney, with Morgan Stanley, with the advice of the
City's Financial Advisor, related to the issuance of the first
series of the limited tax general obligation bonds approved by
li 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 Code
provisions.
CITY COMMSSION
MEETING &F
MR' 2 5 2002
RusolutWn 1999.
U2w- 483
the voters in November.
Section 2. The City Manager is directed to present the
negotiated agreement to the City Commission at the May 9, 2002
City Commission Meeting for consideration.
Section 3. It is directed that the first series of the
bonds be available for issuance and sale no later than
July 31, 2002.
Section 4. This Resolution shall become effective
immediately upon its adoption and signature of the Mayor .2/
PASSED AND ADOPTED this 25th day of April , 2002.
*jWa4 vvoou 0
MJ&UEL A. DIAZ,MAYO
ATTEST:
PRISCILLA A. THOMPS , CITY CLERK
APPROVE ? FORM_, CORRECTNESS
tEJ AR!TVIL9RELLO
ATTORNEY
6234:BSS
It the Mayor does not sign this Resolution, it shall become
effective at the end of ten calendar days from the date it was
passed and adopted. If the Mayor vetoes this Resolution, it shall
become effective immediately upon override of the veto by the City
Commission.
Page 2 of 2 nn cc�yy
l)2— 483
D-0.0"TRICT 5 A
COMMISSIONER TEELE
PRESENTATION
PRESENTATION BY THE CITY'S FINANCIAL ADVISOR AND SENIOR MANAGER
CONCERNING THE ISSUANCE OF THE FIRST SERIES OF THE LIMITED TAX
GENERAL OBLIGATION BONDS APPROVED BY THE VOTERS IN NOVEMBER.
02- 483