HomeMy WebLinkAboutR-93-054493- W-14
RESOLUTION NO.
A RESOLUTION RATIFYING THE ACTION OF THE CITY
ATTORNEY IN SOLICITING FOR PROPOSALS FROM
QUALIFIED LAW FIRMS FOR THE PROVISION OF BOND
COUNSEL SERVICES CONCERNING THE PROPOSED
ISSUANCE OF $30 MILLION IN TAX ANTICIPATION
NOTES DURING THE MONTH OF OCTOBER, 1993.
WHEREAS, the Administration has determined that it would be
in the City's best interests to issue $30 Million in Tax
Anticipation Notes ("Notes") during the month of October, 1993,
for the purpose of covering the City's cash needs prior to the
collection of 1993 Property Taxes which will commence in
December, 1993; and
WHEREAS, in order to issue said Notes during the month of
October, it was necessary for the City Attorney to immediately
proceed with the solicitation process so that the appointment of
bond counsel can be approved by the City Commission before the
end of September; and
WHEREAS, at the September 21, 1993 City Commission Meeting,
the City Attorney will present to the City Commission, for its
approval, the proposals submitted by various law firms for the
proposed issuance of said Notes;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
nP MTAMT _ FLORTDA :
CITY Comm vsslox
OF
Aeaolution No.
`� -- 4
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. The action of the City Attorney in soliciting
for proposals from qualified law firms for the provision of bond
counsel services concerning the proposed issuance of $30 million
in Tax Anticipation Notes during the month of October, 1993, is
hereby ratified.
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this - 7th day of September 1993.
CITY CLERK
APPROVED AS TO FORM AND CORRECTNESS:
A: QUINN JOIN , III
CITY ATTO7
BSS:M3752
-2-
93- 544
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
23
Honorable Mayor and Members DATE August 19, 1993 FILE
To of the City Commission
Discussion Item:
SUBJECT Selection of Bond Counsel for
�7• Tax Anticipation Notes
FROM 0 , III REFERENCES City Commission Meeting
CAtt September 7, 1993
ENCLOSURES
The City Administration has advised me that it anticipates
issuing $30 Million in Tax Anticipation Notes in October 1993,
for the purpose of covering the City's cash needs prior to the
collection of 1993 Property Taxes which will commence in
December 1993.
Consequently, the selection of bond counsel is necessary to
accomplish said purpose. The most recent selection of bond
counsel was based on a competitive process which proved to be
very economical to the City. We are requesting, therefore, City
Commission approval to commence the competitive process for the
selection of bond counsel for the issuance of said Tax
Anticipation Notes.
BSS:P904
cc: Cesar H. Odio, City Manager
Carlos E. Garcia, Finance Director
Rafael 0. Diaz, Deputy City Attorney
ac` I
93. 544