HomeMy WebLinkAboutR-96-0700w
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J-96-1144
10/7/96
RESOLUTION NO.9 U ~ 700
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE TWO ESCROW AGREEMENTS, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, BETWEEN (1)
THE CITY OF MIAMI, THE FIRST UNION BANK AND
THE CITY OF MIAMI GENERAL EMPLOYEES AND
SANITATION EMPLOYEES' RETIREMENT TRUST
("GESA") AND (2) THE CITY OF MIAMI, THE FIRST
UNION BANK AND THE CITY OF MIAMI FIRE
FIGHTERS' AND POLICE OFFICERS' RETIREMENT
TRUST ("FIPO"), TO ESTABLISH AND MAINTAIN
ESCROW ACCOUNTS BETWEEN SAID PARTIES AT TERMS
AND CONDITIONS MORE PARTICULARLY SET FORTH IN
SAID AGREEMENTS.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The City Manager is hereby authorizedll to
execute two Escrow Agreements, in a form acceptable the City
Attorney, between (1) the City of Miami, the First Union Bank and
the City of Miami General Employees and Sanitation Employees'
Retirement Trust ("GESA") and (2) the City of Miami, the First
Union Bank and the City of Miami Fire Fighters' and Police
Officers' Retirement Trust ("FIPO"), to establish and maintain
escrow accounts between said parties at terms and conditions more
particularly set forth in said Agreements.
�i The herein approval 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 COMMISSION
MEETING OF
OCT a 7 1996
Resolution No.
96- 700
�i
A Y
Section 2. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 26th day of September_ 1996.
ATTEST:
l L�2
ER J. MAN, CITY CLERK
FINANCIAL AND BUDGETARY REVIEW:
Q�—� C'x-
MICHAEL LbVIN, DIRECTOR
DEPARTMENT OF FINANCE
PREPARED AND APPROVED BY:
RAFAEL O. DIAZ
DEPUTY CITY ATTO
APPROVED AS TO FORM AND CORRECTNESS:
At
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CITY • �� .