HomeMy WebLinkAboutItem #26 - First Reading OrdinanceJ-88-27
1/29/88
~ dment No. 1
to Ordinance No.
ORDINANCE NO.
AN ORDINANCE AMENDING SECTIONS 1 AND 6 OF
ORDINANCE NO. 10321, ADOPTED SEPTEMBER 22,
1987, THE ANNUAL APPROPRIATIONS ORDINANCE FOR
THE FISCAL YEAR ENDING SEPTEMBER 30, 1988; BY
INCREASING THE APPROPRIATIONS TO THE DINNER
REY MARINA ENTERPRISE FUND BY $450,000, AND BY
INCREASING REVENUES IN THE SAME AMOUNT FROM
DINNER REY MARINA REVENUES THE PURPOSE OF
FY'88 DEBT SERVICE PAYMENTS ON THE
$12,100,000 LOAN FROM THE SUNSHINE STATE
GOVERNMENTAL FINANCING COMMISSION FOR DINNER
REY MARINA IMPROVEMENTS: CONTAINING A REPEALER
PROVISION AND A SEVERABILITY CLAUSE.
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10321
WHEREAS, the City of Miami entered into a loan
agreement on September 30, 1987 with the Sunshine State
Governmental Financing Commissi for the purpose of acquiring
funds to finance, refinance r re burse itself f r the cost of
certain projects as s orth Exhibit A of s i a Bement, and
WHER AS, t nshine State G ve ntal Financing
Commission as or ni d and exists b i ue of an interlocal
agreement, call between the C o T llahassee and the City
of Orlando accord n w~lEh a ter 163, Part I, Florida
Statutes, as amended ( e in r ocal Act"); and
WHEREAS, the or entioned Commission is authorized
under the interlocal Act o issue revenue bonds to provide funds
to assist local governmental units finance qualifying projects;
and
WHEREAS, the City of Miami has borrowed $12,100,000
from the Commission to fund Dinner Rey Marina improvements; and
WHEREAS, this borrowing is to be repaid from Dinner Rey.
Marina revenues;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. Sections 1 and 6 of Ordinance No. 10321
adopted September 22, 1987, the annual appropriations ordinance
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