HomeMy WebLinkAboutR-91-0717J-91-789
9/25/91 ry
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY ATTORNEY TO
ENGAGE THE LAW FIRMS OF HOLLAND & KNIGHT AND
KUBICKI, DRAPER, GALLAGHER AND MCGRANE TO
PROVIDE BOND COUNSEL SERVICES FOR THE
REFINANCING OF THE OFF-STREET PARKING
DEPARTMENT'S SUBORDINATED DEBT OF $61065,000,
WITH FUNDS FOR SAID SERVICES, IN AN AMOUNT
NOT TO EXCEED $17,000, PLUS EXPENSES, BEING
ALLOCATED FROM THE PROCEEDS OF SUCH
REFINANCING.
WHEREAS, the Department of Off -Street Parking of the City of
Miami has determined that it would be in its best interests to
refinance its outstanding subordinated debt currently amounting
to $6,065,000; and
WHEREAS, the off -Street Parking Board has authorized the
Department to accomplish such refinancing and has authorized the
Department to engage the firms of Holland & Knight and Kubicki,
Draper, Gallagher and McGrane to provide bond counsel services to
the Department for purposes of such refinancing for a total cost
not to exceed $17,000, plus expenses; and
WHEREAS, the Board's authorization, with the City Attorney's
concurrence, is subject to the City Commission approval;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The appointment by the City Attorney of the
law firms of Holland & Knight and Kubicki, Draper, Gallagher and
McGrane to provide bond counsel services in connection with the
refinancing of the Off -Street Parking Department's subordinated
debt of $6,065,000, is hereby authorized, with funds for said
services, in an amount not to exceed $17,000, plus expenses being
hereby allocated from the proceeds of such refinancing.
Section 2. This Resolution shall become effective
immediately upon its adoption.
CITY C4wnNION
METING 4f . ,
PASSED AND ADOPTED this 3rd day o£,,-,,,7 October , 1991.
XAVIER �N.1 SUAREZ, MAYOR
ATTE �,-,J
MATTIT HI RAI
CITY CLERK
PREPARED AND APPROVED BY:
RAFAEL O. DIAZ
CHIEF ASSISTANT CI ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
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A QWVNN J , III
ACTING CI ATTORNEY
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i05 MI PARKING AUTH. F-0
CA=1:0
TO: Honorable Mayor and Members
of the City Commission
FROM: Ciark Cook
Executive Director Designee
Miami Parking System
Recommendation:
DATE: September 23, 1991
SUBJECT: Resolution Appointing the Firth of
Kubicki, Draper, Gallagher and
McGrane and Holland & Knight to
Serve as Bond Counsel
It is respectfully recommended that the City Commission adopt the attached
rnsolution authorizing the appointment of the firms Kubicki, Draper,
Gallagher and McGrane and Holland & Knight to serve as bond counsel for
the refinancing of certain long-term debt of the Department of Off -Street
Parking. The cost of the legal services will not exceed $17,000.00 plus
expenses. These expenses will be allocated from the proceeds of the
re -financing.
Backazound.,
At the September 19, 1991 Off -Street Parking Board meeting, the Board
approved the refinancing of $6,065,000 of certain subordinated debt in
order to lock -in current low rates.
In connection with this refinancing, the Board requests that the firms of
Kubicki, Draper, Gallagher and McGrane and Holland & Knight be approved as
bond counsel.
The City Attorney has agreed to appoint these firms pursuant to the
Board's request.
We are requesting that the City Commission approve the selection of I
Kubicki, Draper, Gallagher and McGrane and Holland & Knight.
HJM:ns:hjm92491.doc/l
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