HomeMy WebLinkAboutR-91-0247A
J-91-344
3/28/91
RESOLUTION NO. 9-1- 247
A RESOLUTION APPROVING, IN PRINCIPLE, THE
REDUCTION OF THE RANGE OF INTEREST RATES
WHICH IS FROM SIX TO NINE PERCENT CURRENTLY
CHARGED TO LOAN RECIPIENTS FROM MIAMI CAPITAL
CORPORATION IN THE LITTLE HAVANA AREA TO A
NEW RANGE OF THREE TO SIX PERCENT; FURTHER
APPROVING THE APPOINTMENT OF MR. ELIO ROJAS,
CHAIRMAN OF THE LATIN QUARTER ASSOCIATION, TO
SERVE AS A MEMBER OF THE LOAN COMMITTEE OF
MIAMI CAPITAL CORPORATION.
WHEREAS, the Miami City Commission recognizes the necessity
of providing assistance to business which want to develop the
Latin Quarter area of the City; and
WHEREAS, Miami Capital Development, Inc. has indicated that
it is willing to provide such financial assistance; and
WHEREAS, particular methods of loan assistance were
discussed at the City Commission meeting of March 28, 1991;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
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 City Commission hereby approves, in
principle, a reduction in the range of interest charged on loans
to be made by Miami Capital Development, Inc. which presently
ranges from six to nine percent; said reduction being made to a
range of from three to six percent.
Section 3. The City Commission also hereby approves the
appointment of Elio Rojas, Chairman of the Latin Quarter
Association, to serve as a member of the Loan Committee of Miami
Capital Corporation.
cm
Cot
Section 4, This Resolution
immediately upon its adoption.
shall become
AAA.APn AND AbOPTED this 28th day of
AYH
I
City Clerk
PREPARED AND APPROVED BY:
RAFAEL O. DIAZ
Chief Assistant Ci Attorney
APPROVED AS TO FORM AND
CORRECTNESS:
March
effective
1991.
r
XAVIER L. EZ, OR
b+
1
"J
7
� S