HomeMy WebLinkAboutR-89-0259RESOLUTION NO. 89-259
RESOLUTION EXPRESSING, IN PRINCIPLE, THE
WILLINGNESS OF THE CITY OF MIAMI TO FOREGO
TS SUPERIOR SECURITY POSITION IN CONNECTION
KITH A LOAN BEING MADE BY BARNETT BANK TO THE
'ROPICAL CLEAR BLUE LAUNDRY SYSTEMS; FURTHER
'ROVIDING THAT SAID ACCEPTANCE OF A
USORDINATE POSITION BY THE CITY IN REGARD TO
PRIOR CITY LOAN/GRANT SHALL BE SUBJECT TO
- BY BARNETT BANK.
' BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The City Commission hereby expresses, in
principle, the City's willingness to forego its superior security
position in connection with a loan being made by Barnett Bank to w
_- the Tropical Clear Blue Laundry Systems; further, said acceptance r
_ of a subordinate position by the City in regard to a prior City 1:
loan/grant shall be subject to the approval by city
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administration of all terms and conditions of the pending new
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loan by Barnett Bank.
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Section 2. This Resolution shall be effective u ,
immediately upon its adoption pursuant to law.
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PASSED AND ADOPTED this 3rd day of March 1989.
ARE Z , MAYOR'
XAVIER
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MAWY; HIRAI
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CITY CLERK194
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PREPARED AND APPROVED BYs .tltt
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To: Cesar Odio
City Manager
pww_vRosario - Kennedy
Commissioner
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CITY OF MIAMI. FLORIDA
INTEROFFICE MEMORANDUM
oATE: February 22, 11.0 4l^, Li. 1 !
sumEcr : Pocket Item February-.. 23r& ~d `
commission Agenda
REFERENCES: Tropical Clear, Blue '%undry
Systems Loan request
ENCLOSURES:
TO:
F"N1
Cesar Odio
city Manager
Cr" CW MIAMI, FLORIDA
INTRN-*FPICS WIRMORANDUM
At the December 15th Commission meeting the City Commission
instructed the administration to review a loan request by the
Tropical Clear Blue Laundry systems re: the mini-UDA(; program,
subject to a one-to-one matching loan requirement and an
appropriate interest rate being recommended by the City Manager.
Please be advised that I intend to bring this up as a pocket item
on Thursday, Feb. 23.
cc: Aurelio ,Perez-Lug0 nes
Herb Bailey
FrankCastaneda
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