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O-10291
N---------------- 1' _ _ - %9%87 0RbINANC8 NO. AN EMERGENCY ORDINANCE OF THE CITY OF MIAMI,et < 'LORIbA, FI {INC CERTAIN DETAILS CONCERNING THE ISSUANCE "OF,„TIl8 CITs'S $.,000,Ond STREET AND RI014WAY IMPROVEMENT BONDS, $1,soo,,0bb POLICE HEADQUARTERS AND CRIME PREVENTION FACILITIES 80ms ,, $1,000,,000 STORM SEWER IMPROVMNT' BONDS AND $2, 500, 000 SANITARY StWER SYSTEM BONDS; RATIF'YINO, iHATSUCH BONDS .SHALL:CO�tSTI� TUTE GENERAL: OBLIGATIONS OE' THE CITY, , Ai�ErtD I NG ORDINANCE NO:"9128 AND:, ORDINANCE NO;,9129;- DIRECTIXiG . AND , AUT14O RIZING. SALE OF THE BONDS 5Y B DIRECTING AND PUBLICATION THE .. NOT NOTICE SAL HING EOF SAIDBONDSAND ESTABLISHING THE DATE AND TIME FOR SUCH SALE; APPROVING THE FORM : OF A PRELIMINARY O,FFICIAI,. STATEMENT PER- - TAINING .TO.SAID BONDS, AND AUTHORIZINO,THE'DIS ' TRZBUTION:,:THEREOF TO PROSPECTIVE''PURC8A'SER8; CONt`OrRMING T88 TERMS OF. CERTAIN OTHER : ORDI!-. NANCES AND RESOLUTIONS; INCLUDING SPECIFICALLY RESOLUTION NO.. 84-628; TO THE. TERMS" HEREOF; AUTHORIZING ACTIONS AND' EXECUTION OF DOCUMENTS Bi° OFFICIALS OF THE CITY; APPROVING .THE USE OF., BOND IF IF REQUESTED -BY THE PURCHASER, OR DETERMINED BY THE ISSUER TO BE' DESIRABLE; .'.` DECLARING" AN,EMERGENCY.TO EXIST;,PROVID:ING AN EFFECTIVE DATE;, AND,`!MAKING CERTAIN :OTHER COVENANTS AND, AGREEMENTS IN .'CONNECTION ,f THEREWITH. ' T. ORDAINED THE COMMISSION OF - BE. I INED BY HE CITY OF M�T ;�,MI , FLORIDA: „ , SECTION 1; Authority. This Ordinance is enacted, - t, pursuant to Chapter,.1,66, Florida Statutes, the Coiist"itution: of ', the State of Florida,. including, :but not limited to Article VII, Section 2 thereof`, and other applicable provi'= € sions of law. SECTION 2..,'Findings andDeterminations. It is hereby ascertained, determined and declared that: 'A. Pursuant to Ordinance No.'9129;'enacted' on July 10,, 1980, as..ame'nded by Ordinance:No. 9131,.. also:.'enacted on'_JulJu1 10, 1980; and, Ord No y 10093, enacted on April.10, 19,$61 ai-id asnasce upp e vented }Sy tion Resolupeed on No. 80-740, . 'ado October 9,`1980, Resolution No. 80-774; adopted "on October 30, 1980, Resolution N: ' 86-.17.4, adopted' on March 18, 1986, and Resolution' No. 86-437, adopted on June 12, 1986 t (collectively, the:"Street Bond Ordinances "and Resolutions the City Commission, ( ty of Miami;:Florida :. of the Commission ) tie "Ci t e ;#� ( h "Issuer"), authorized' the issuance of $30,000;,000. Street and. IIighway Improvement Bonds (the, "St reet Bonds") of the Issuer, which ssuance was approved by the citizen a referendum'held on OccoberS7�1980,Issuer'through I3, Pursuant t0 Ordinance No, 9787, enacted Qn.January 26; ]984, as suplem nte.d- by Ord nance.,, No, 9788, 'enacted. on January t26, 1984, as amended by Ordinance iNQ, 9904, .enacted on October, 10, 19$4; and, as sup. emet}ted k : esolut on Ng. $4-31. , adopted on Marcb'.291 1984, Resolution -NQ$5-31.2,,, adopted on March 21:, 1qas, and Resoluti= : Ito, 8t-437;. adopted on June 12,, 1986 (collectively►, the Po l � ce Bond .Or dinanc I.utons "°) , t��.e es aid Reso _. ? ,. 000,000atthried aister ztoits Police Readgtiarters aild Crime Pi:o ention Eadilities Bonds (the Police Bonds"),. w, icli itstzaizceWasapm proVed'by the, citi;teiis of the Isstrei 4-11'r'oiiq)1 a refer ei oizdum held on March 13, 1984. 0: purstlant to Ordinance No..9128, ena,oted Eft July 10, 10-80, and ordinance No: 10094, enacted Oil April 10; 19B6,, as _ supplemented ley Ordinance Nc; 91.3t , etlacted, oil July 10, 1980, as supplemet�tted and amended by Or: dinance No. 90, 7, enacted 0fl 1 i i1 1985, and as supplemented IDy, Resolu,tioii No: 80=740, adopt,ed'on.October 9, 1980, Resolution No. 80,773, adopted oil October 30, 1980, Resolution No , 86- 175 , adopted oil .March 18; -19861 . Reso luti on No.'84-628; adopted oil June .14,',1984,. kesoluti6n " No. 85-353 , - adopted . , on. Mav cli 28 , 1985-, and Resolutioil ,No. 86y437, adopted on. June 12; 1986 (collectively, the ','Sanitary Sewer Bond Ordinances and Resolutions"":), the :Issuer, , authorized. issuance of its $45,000,000.Sanitary Sewer Improvement Bonds ( the "Sanitary Sewer Bonds") ; whicllis: tzaiice ..was` approved . by the citizens of .tZie Issuer, tlir'ou�Jh a . referendum held 'on October 7, 1980. - gL6stt1984; to tJrpiiYanceerlo 9781 , enacted urant oil January as supplemented: ed by Ordinance .. No. 9782; enacted on Jana 26, 1984, and as 'sup-: `pleineilted and:, .amended by, Ordinance -No. 9905, enacted on March 21,', 1985, and Ordinance No. '9977;. enacted on April 11, , 1985;' and as supplemented by' Reso,lutioil No. 84-319,, adopted oil March 29,, 1984, Resolutions No. 85-28,9, .'adopted on March' 21, 19861 Resolution No. 84-628, _ adopted on June 14, 19.84, Resolution Mo. 85-353,'`'adopted oil March 28, 1.985.1' and :ResolLition.No. 86-437,, adopted, on. June 12,.1986 (collectively,, the ."Storm, Sewer Bond 'Ordinaizces and Resolutions"), the Issuer authorized the issuance f of its ,$30, 000, 000 Storm Sewer Iitiprovement Bold "", "� (the Storm Sewer.. Fonds ),,which issuance was ap- proved b.ythe citizens of the Issuer through:a'ref--, erendum held on March 13,'1984: E. It is in.the best.interest :of 'the Issuer and its citizens and residents,,that there shall be issued I and ,.sold at this time.$5,000,000 in princi- pal amount of the Issuer' s Street Bonds',' . $1 , 500, 000 . in principal' amoui7t of its Police. Bonds, . $1,,000; 000 in principal amount'of its 'Storm Sewer Bonds_ and . S2;S00,000. in principal amount o£ its Sanitary nds, such'Bonds to be dated to, be Sewer Bo � num- bered to ,be. -redeemable prior to their:respectie �. the maturities,, to' be payable .a1 batiks and 'to,be sold pursuant to notice, all as hereinafter. provided. " F, The,prpceeds of, the Bonds`wili:be used to pay the cost of issuance of the portion of - thEi P,Qlice Bonds, . the 'Street Bonds; the Sanitary' Sewer .Bonds and the Storm Sewer Bonds authorized to°; �e issued' bereun.de r. (collectively tile, ""ovemezlts ail d to ay the'cost of certain' cap? P stal. mpr in , th'accordance witYterms f Street Bend Ordinances aid Resolutions, the Polic'e Bond _ Ordinances and Resolutions,. ,the `Sanitary I Viewer .8ond_;,_ Ordinances and Resolutionsaid the Storm. Sewer Bond Ordinances and Resolutions and as detailed in Or,da dance No . 10187 ; enacted can December 11; 1986 (the "Master fipprQppiatos Ordimmnce'"): G. An emergency exacts with respect` to the adoption o ' tbi s 0, di a 01 t2iat', in order' to . - 4- .._,_ r_:,-- +..,..,,... ..;,<to,x:.;;<+;c:,•a.F:':'t '"mt n, '.?'ti^.:'ruvr,.q; A4: __— take adV-ailtage of oxistiliq market conditxoils, it is ilett8sary that the Issuer ha�11e the authority to market the Bonds as soon "as possibly Immediate 'enactment of this Ordinance is necessary to accoit, plis2� such marketing, Tlie Cotrtsrissioti, by adopticl� of tli�.s oi:dii�ai�ce b at leas' t+ a four -fifths Vote hereby waives all: notice requit°ements for, tl�e' i_eguA, l.ai.; enactment of municipal oi:dinances: t; N,, This Ordinal -ice is hereby declared to be an emergeilcy measure, on the grounds of urgent pub- lic heed_ 'fortlzs pre e3 .`ata on of peace, heap?i, safety and the property of the Issuer". SECTION 3. Authori-ation of Issuance of Police Bonds. There shall, be issued and sold at this time , Police ,. Bonds in the. aggregate principal amount of $1, 500, 000. Said PoliceBonds shall be 'dated as of .the first day cif August, 1987. Such. Police Bonds shall mature,;. subject to redemption as..hereinafter described, on 'the :first day of August in the following years and in, the following amotiiitsc Year of Principal Year of Principal Maturity :Amount Ni Amount 1989 35;000 1998 75;000 1990140,000 1999 80,000 1991 45,000 2000 85,000,. .19925,000 2001 90,000 1993 50,000 200� 100,000 .1994 : 55,000 2003 105,000 1995 60,000 2:004 115,,000 1996. 65,000 2005 120,000 199i 65;000 200 1-30;000 ;„ 2007 140,000 SECTION 4. Authorization of Issuance aiid:Sale of Street Bonds. There shall be issued and sold at this time Street.~ Bonds in' the, aggregate principal; .amount of $5,000,000. Said Street Bonds shall be dated as of the first day of August; 1987, and slial'1" mature, subject to redemptionla's hereinafter provided, on,,, the ,first ,,day of August ,of the followingears and in the following,�amounts Y �._ Year, of Principal Year of Principal Maturity Amotant, Maturity Amount'. 990'. $ 135,000 1999 2701000 -,.-1991 145,000 2000. 290,000 1992 164;000, 2001'" 310,000,: , ,....„ ., 1993' 170, 000 2002 ' 335., 000 1994," I85,000; 2003 360;000.` 1995 200,000 2004" 390;000 19 96 215,000 2005' -420;000 1997 230,000 2006. 450, 000 ' ' 250,000 2007 19,98 , 485'000 .SECTION 5. Authorization of Issuance 'Storm and Sale of , Sewer'Bonds. There, shall be issued,. and so t d a s �, i s t h time- Storm, Sewer Bonds in the aggregate principal aznount.:of, $1, QO4, 000. Said 'Street Bowls. shall be dated as,. of :.the first; day, of August, 9$7, and shall mature, su}ject to redemption as ",he'reinaft'er provided;. , on . ,t e first day of A,ugu� of � the fol.lowing yeas and a.n the following amounts, „ 3 MIN; i 1"''ea.,t of Px'Sncip l Yeas rJ{ 'rinCrpe Matiivi t. Atf outlt lat�ir x l yAm 0"Unt $ 15;odd. � oo 40,Qoa 9Q 9 002 40,000 1591 :_ 20,000 5, 000 } 1992- 20,000 200445,OOE� 1993 , 20, oao 2005 5'C7; 000 ") �Q,oOQ " 20o6. 55,000 1a95. 25,000 2007 60,000 .. 1996 : 25,:000 200 65 000 1997 . 30, 000 : 200g 70,000 1998 30:000 2010 75,boo , lg9g 85,000 201180,000 2000 35,000 2012 85,000 z SECTION 6. Atttlioi anon of I stance and Sale of Sanitarv'SeweZ Bonds. There shall be issued '~Vaud sold at thi's�W time : Storm Sewer' Bonds in the ':aggregate principal .. amount of $2,500;000. Said_Street Bonds.shall be dated as of .',the'first day 'of ,Auqust., 1987,:.and shill' mature subject to _redempti,on as herei"Wafter provided, on the first' ciay . of. August, of the_follo g'.y q win ears al'I in the, following amounts. Year,of Principal.tear, of Principal Matter i ty Amount Maturity Amount 1990, $ 70,000.: 1999 135,000 1991 75,'000 2000, .: 145, 000: 199.2 80 ; 000 2:001. 155,000 1993 85,000 2002.165,000 1994 90,000 2003 180,000 1995 '. 100,000 2004 195;000 1936 105,000 2005 210;000 3.. 199.7 115.000 2006 225',000 125,000, 2007 245 ; O;OO ;. SECTION 7. .Details'of'Bonds. f A Notwithstanding anything."to the contrary,in the:Police Bond Ordinances, and.Resol'utioiis, the Street Bond Ordinances and Resolutions, the Storm Sewer Bond Ordinances and,,Resoluti'bns and the .Sanitary Sewer Bond :Ordinances and , Resolutions. (collectively, .-the ."Previous° Ordinances acid 'Resolutions , with respectto, each of the. issues, of,,, Bonds to be issued and sold her eui:der, ,a 'separate bond foxm 'for:` each such. issue` shall not be required, and: the. Issuer is hereby authorized to consolidate.into one bond, form, solely for the purpose `of printing such bonds; the, 'Police Bonds, the.: Street' Bo the - Saizi tar Sewer Bolids and 'the Storm Sewer .Bonds ereby,authorized ,to be : 'ed ".- an Z d Sold,-':., .such bond form to be, as hereinafter` set forth; -' B. The Bondsi shall ,be numbered_ consecutively from : 1 upward preceded'by the letter "R" prefixed"to,the number. The"., priincipal of and, redemption :premium, if any, , on; the ' Bonds shall, be p"dyable upon presentation and surrender; at , the, o`ffzce of NCNB National Bank- of ° Florida'; of its 'succes- stirs or.. assigns, as Bond R.e'gistrar and:. Paying 'Agent; (the "Bond registrar and Paying -Agent".) in'the-City.„of.Tampa; Florida,' Interest on the aohds shall' be paid'by cheeky draft drawn upon the Bond Registrar and Paying Agent and mailed to the.registered,owners of the, Bonds at the ads dresses ' �,as they appear on the registration books maintained by the Bond Registrar- and Paying l�gent :at the close of busi, #less , -on- , the 15th. 'day (whether. "o.r . not„ a" business day) of the month next preceding the interest payment date (the "Regard ?ate'.) , irrespective of any transfer .or exchange of such 5011cls , .subsequent to suc)i 'Reoord Date and prior to such tarest ayment ;date, unless th p' e Issuer shade ir' ,d'e,faui$ in payment Qf: xnterest due. on such interest paymer date; In the event of 'any such default,.such defaulted ;nterest ....__......_.........-N,-..,•:m=v;'.nssi.....i'l.'S.:'.^„YN'n"c'Pl'v'r �fl}.i''P,"i (9n�?V� LM1'Q .. shall lJe payable : the .persons izt who' so n,1Ittessttci9 B±J 1C S, Ate registered at:'the close ,cif business oil a special record date (which gate shall also be the date for the payment- of such.. defaulted, interest) as"established by notice deposited " ill the U. S:" mails, postage prepaid., by the Issuer to the registered owners _ of tire' B>zids,not less thazi fifteen (15) days preceding such special record date. Stich notice shall be, mailed to the persons in whore' ziames the Bonds are regis-' tered at the chose of business oil the fifth day! (whether or, nota busi' less :day,) preceding ,the date of mailinq 'The r,eg- istratioll of any Bond may be transferred upon the registrar tion':,, books upondelivery,thereof to the principal office, of tine Bond' Registrar ' and laying Agent accompani , ed,,byl awrit`teii instrument or instrttinents of transfer , in form and with guaranty of signature 'satisfactory to the .Bond i~egistrar aild Paying Agent, „ duly executed ,by the registered owner of tiie Bond or his attorney -ins -fact or legal. representative, con- t'aining Written, instructions as to the details of the trails= fer of sucli Bond, along with the social security iiumber or federal employer identification number, of such transferee: In `all cases, of 'a. transfer 'of a Bond,, the Bond .Registrar and haying Agent, shall' at, tlie' earliest 'practical' time in accords ance with the terms hereof enter the transfer of ownership ' in the registratioiz books and shall deliver "in the. name of the new transferee or transferees a` newhilly registered oral or Bonds ,of the same maturity and of authorized denomi- ' nation or denominations, for the same aggregate ' _ principal amount and payable from tine same .,source of funds. The Issuer and the .'Bond Registrar and Paying Agent may charge the registered owner of the Bond ,for. the registration of ev- ery,transfer or exchange of a Bond an,amount sufficient to reimburse._ them for any.tax,,fe'e or any other governmental charge'requ,ired (other than by the Issuer) to be paid with respects ,, to the registration of such ` transfer, and may 'such require that amounts be paid before any-.suc'h new .Bond shal lbedeli vered. 3 -id Paying Agent Issuer and.the.Bond Re sstrar a may deem and treat the registered owner. of:any Bond as'. of .` the, applicable --'Record Date as the.a'bsolute,owner .of'such, Bond, for. the purpose" of ~receiving ,payment of the. principal' ' thereof _.and 'the' interest and premiums, .ifs any, thereon. Bonds may be ,exchanged at` the „office of the Bond Registrar" and, Paying Agent for a hike aggregate>principal amount- of Bozids,; of other autiorized the sme.enominat�czseries. .. and maturity' , C. The 1987 Bonds. shall be dated August 1,'1987; Vr- sizall 'bear, interest'. from the date thereof, payable"semiannu- ally -,on the first; da of August and the fir'st:da Y g y of _. and' shall, matur 5 'February e as set forth in. Sect_ ions 3; 4, and 6'hereof. _ -:D, The _Bonds_ sha11, be, executed in the name of the Issuer',by the Mayor, or r d the 'be` ' i Issuer shall imprinted, reproduceduor lithogr a he of the, imprinted, P d 1 ion the_. Bonds and attested to, and countersigned by, the Clerk or any. Deputy " Clerk 'of the. I ssuer In addi'tian; the City . Attorney shall sign tile,Bonds, `showing' approval of the form and correctness thereof, and the Mayor or;uice'Mayor shall sign'the validation certificate with respect to the ;.:BonaS. Tile signatures, of 'the Mayor; Vice Mayor, ,Clerk, ,Deputy Clerk and the City Attorney ,orb the Bonds, may be by facsimile, .` but either the' 'Mayor,' (or:,Vice Mayor) or. the. Clerk (or ,Deputy Clerk) shall' icgzi his manual' signature_ Qn the Bonds. If any officer whose signature appears on the Bonds ceases. to hold _ of c,e, "before the -del very_ of the Bonds; k� s x9 ature shall: nevertb6l.e,ss be valid and sufficient for al.'i purposes, additIon, atly Boricl may beer the signature of, or may .,b signed Jby; suchpersons as at the actual time Q ekecution of such Bond. shah be. tile, proper of flcers to sign such','Bond aItho-zgh at the date of such Bond or the: date ,of d'eiii`ery f thereof,such Persons ►day not�have.'bebh sUch�off icet"s, only � �90ch of�the�, Fonds as' � s1�a�11��1Yave, endorsed tlieree5i-i a Corti fica tie, of atithenticatiop substantially in the forth herein after set forth in Sect.ibtt, .1 1; hereof, duly oxib- cuted by the 8otid Registrar' and paying Agent, shall be ei1� titled to afiy, right or benefit uzdek this ordinance. No 8otzd: shall. be `valid or obligatory for at�iy purpose unless and Lititil : such certificate of autl�eriticatioli shall have been duly executed by the Bond Registrar and. Payiti1 , Agent, and such � cetti.ficate of .tl�e E•ondec3istrar and Paying Azeit' tipoi such Bond shall be:concl'usiVe eV Bence that .,any >' such Bond has been duly. authenticated and delivered:.under this Ordinance 11►e Bond Registrar .arid Paying: Agent's ce ti fi'y . s case of authentication on any Fot-id shall be deemed to -havO xautorzedofficer the, duly eL7, Bond 12egistrar and Paying Agent, but it 811a11 :not be neces� sary that the .same officer si.giy the certificate of authei cat cation on all of the :Bond,s�: that may be issued hereunder at. Ally one time. 4�. E . I f any florid i s mutilated, destroyed, stolen . ot: lost, the Issuer or its agent may, in 'its discretion (i') deliver a duplicate replacement Bond, or (ii) pay a Bond = that has matured or is about to mature. A mutilated Bond shall' be surrendered to and cancelled by ,:the Clerk of the Issuer or his drily, authorized agent. The registered owner of a' Bond m-List furnisl- the Issuer or. its agent proof of ow- ners'hip of any _destroyed, s -o,len 'or lost Bond; post. satis factory: indemnity.; comply ,with any, reasonable conditions the Issuer or its agent; may prescribe; and pay the Issuer or its agent's reasonable expenses. An such dLt l i c d s hall y p ate Eon constitute. an or;i gi n'al contractual. obligation on Lthe part of the Issuer whether ." or not the.. destroyed,` stolen or lost,Bond Ue at aziy time found by anyone, and such duplicate Bond shall be entitled to equal azzd:. proportionate `beziefits 'and 'rights as to .lien f ' on, and source of payment of and security for payzriezit from; the funds pledged to°the payment of !the Bond so mutilated; i,... destroyed,' or 'stolen or lost. F., The Boiids maturing. on August:. l; 19,98,... . or .. thereafter, sba,ll be subject,to redemption' at,,the option of the; Issuer prior to their maturity. on or: after August J/ 1997,,.in,whole at any time. or in part on, any iizterest payment date, in inverse. order of maturities, and by lot within a maturity in such,. manner as the Bond Registrar,. and Paying. Agent- may determine at the redemption prices (expressed as 'percentages of the,;principal'amount) set forth below, plus accrued interest to the redemption date:. Optional RedemptionPerods Redemption (both dates inclusive) Price August 1, 1997 to July 31, 1998 l02/ August 1 1998 to`Jiily 31 1999 August 1,.199,9 and thereafter 100% Notice of redemptionshall be given by deposit the U:S, least' Qthirty' (�0:)aand�nottmpz:-ei�tha ��, Poyta � repaid; at mails PY p p ofdays before sit ( ) the redemption date to ail. regi steed owner the Bonds or portions ' of tie Foos tQ be redeemedat their addresses as they appear Qn t_e eg strat on bQo} "s to k�e �mai z to _ qed in a c'ordance with the provisions wreAf. Failure to mail any such iQtice to a registered owner of a Bend, or and defect : tl exein, sbail iwt affect the va).idity of, t e proceei. for red o�� re t� s eat tQ wbi no 'faijUre off' defeat•' occurred. y .4�� or par. �.on .t eret�. �+� Such. hotite shall set forth the date fired; for redettiptioil", the fate of interest 'laoriie by each. Botid veiii'c .' k redeemed;' the- date . of publication, if any, of, a notice of ' r eclenipt on; the Barrie and address of the Solid, lRe,, �trar ift Payiilei ACJetlt� t2ie i°edemptioil prise to be paid and, if less 3 than all''of .the _ Solids them .outstanding. shall be called for redemption, the distinctive numbers and letters; iricludihej C�SIP. ftuMbers, if any, of stich'Bonds to _be. redeemed and, ih- the case of Bonds. to be iedeemed,in part only, the portion of the pr i c,ipal amdunt thereof to be redeemed.; If wily Bond . is to be I redeemed in part only, the notice: of redemption - which relates` to such Bond 'shall also : state: that 'on or af� ter` the ' redemption dateupon surrender of such Bond, a p p new - Bond of Bonds in a principal amount equal, to the unredeemed portion of such Bsoild will be issued. Any.notice mailed as provided ilithissection.shall be conclusively pres"Imed to havei been duly given, whether or not the oktler of such Bond receives such notice. In addition', to the Itlallltlg o,f„ the notice described above, each notice of redemption and payment of the redemp, tidtl price shall meet the requirements set forth in (i) , a (i i) and (i ii) below; provided . however, that', notwi thstaiicl-' ing any other provision of ,this Ordinance to the contrary, t.. failure of such notice of payment .to. comply with tho terms thusparagraph s1�a11 nog in,:any manner "defeat the effec of- , tiveness of.a call for redemption if notice, thereof, is given, as otheLwis`e prescribed above in this Section 7:F. (i), Each .notice of .redemption shall be. sent at least thirty-five (35) days ! before the redemption date by'registered or _certified mail or overnight delivery service_ or telecopy to. all.register:ed # securities depositories then in the busi- ness of holding': substantial 'amounts 'of. obligations of types comprising,the. Bonds, (such,, depositories, now'..,: being`" The DepositoryTrust Company,, .New, York; New -;-.: York:,. Midwest Securities Trust Company, Chicago, „.Illinois, Pacific .Securities °r Depository Trust Company, -San Francisco,: p. California and Phi adelphia 'Depository . Trust Company, Philadelphia', Pennsyl- vani'a) acid to.one or more national info'r- matron services that' disseminate notices of redemption of obligations such -as the s. Bond. notice redem taon shall. (il) lot'ice of p be publi shed.' one:' time in:.THE BOND`_ BUYER; New °York, New' York or, Iif,suchpublic,a- tion is impractical or unlikely.to, reach a substantial number of.,.the holders of the Bonds; in some, other financial newspaper or journal which regularly car- ryes notices of redemption of other obli-' gations- si'milar.to the.8ohds; such publ�i cation to be'made at least tYiirty (30) . days , prior tp,, the date - fixed or redemption. Upon the payment of the redempp tipn aice o Fond's being redeemed, each alisck o, r othex trahsfez offunds issued., for,. SI.4c l purpose sba- 1 :. bear. 11e '.', CVSIP., number , dent2 #ding, by assue and mad-: urit:y, the BOrids being redeemed witb the proceeds O,.'� S1,$Ch .G,beC�: or Qtl'�4�': .t3-'ansf , p,' er� `,f - �.' The Bond kogistz-Ai: and Paying Agent shall not be ret uii�ed to transfer or e.x c h A il cjo any Bond after the publica" _ boil e"2#ld filral I�C� t7 a 170tfCE' t7f 1'E'C�etTlption nod, f�u2 �T1tj the period of fifteen l days, next recedill ublicatioli algid p ( ) p '. J % MaiIing of a notice of redomptiotl. ;k G. : Notice having been give-Iin tie, mahner and uii� der the conditions iiereiiiabove provided, the Bonds orp.ok`.= tions of Bonds so: I I called for redemption shall, oil the redemption date designated ill such notice, become and be due andpayable at theredemption'price provided for redemption for._such' Bonds, or portions of Bond: 011 Sikh date: Oil tine date so :desigizated for redemption, moneys' for,payinetIt_ of. the redemption price, b:eingheld in separate accounts key-tiieBond Registrar and Baying Agent in trust for the registered ow. nets of tine" .i3o ids or po'rtiotis thereof to;"be redeemed, all, as Providedit�",'ti�is ` brdinance; interest: oil the Bonds or'por- tions of Bonds so called for redemption shall cease to -'ac- •` crue, such Bonds and portions of Bonds shall cease ,to be ens -: titled to any _ lien, benefit. or,. security. under thus lance,,. and the registered owners of such. Bonds or por- tions of Bonds'shall have no right in respect thereof except to receive payment of tiie redemption price thereof and, to " the extent provided in the :.next subparagraph, to receive . Bonds for any unredeemed portions_ of the Boiids. H. In case part but notallof an outstanding fully.registered Bond shall be selected for redemption, the registered owners thereof shall preseirit . and surrender such Bond to the Issuer or the Bond Registrar and Paying Agent for payment of -the principal amount thereof so called for; redemption; and the Issuer shall execute, and, deliver to or upon :,the order of such, registered owner,., without charge therefor, for tile, unredeemed balance of the pricipal amount, of the Bonds so surrendered, a Bond or Bonds fully regis- tered as,to:principal and interest: Bonds' or portions of Bonds that have' been duly called,°for redemption uizder the provisions >hereof, and with respect to which amounts,sufficient.to pay the principal of, premium'; if `any, and interest'to the date fixed for redemp- tion shall .be delivered to aiid, held in separate accounts._by an, escrow. went, any, trust company, .. national banking association," sayings' and loan association, savings bank or other;banking.association,which 'is authorized. under' Florida:: law to be ..:a ` depositar.y; :of municipal ,funds .and .which has qualified with all applicable state and federal' requirements concerning th ' receipt of the, ,Issuer's funds `' (an "Authorized " ) g` r and Payiiig;Agent in trust Depositary,or the Bond Re *st. for -'the. registered owners. thereof, as provided in this Ordinance, shall: not be deemed toi be outstanding 'under the provisions of this Ordinance and; shall:cease to"be entitled to any lien, benefit"_or security under 'this Ordinance`,` ex cept _to receive the payment of the' redem Lion' price', on,'.or. after the designated date of redemption :£rom moneys depo sited ' with or`..held 'by the :--escrow agent, Authorized Depositary or. Bond Registrar and.Paying Agent, as. the case: may be, for, such redemption o f , the' Bonds and-, to the -extent provided .2n`the preceding subsection, to,receive Bonds for any unredeemed portion of the Bonds. If the date for payment of the principal of, premium, if any, 'or interest . on the: Bonds shall' ' be a Saturday, Sunday, legel holiday or a day an which banking; irietitutions r� tbe..city where the'Principal corporate 'trust' off ice' of the .Bond Reg ar and 'ay' ng �igent is- located;,.are . atxthora zed by law or executive' order .to � close, then the dat6 for ouch peyment shall be the"next sueceeding day which..a�s not a B.atutday,.Sunda.Y,agai holiday, or a day on which such" ba)*i.hg institutions are, authorized to c� ose; , and 'Fay�nent on " SSeh clay shall have -tile same force a23G� ei fect as if made on , the nominal date; of, payment. t 'ds nbt less than f;ifteeti (l�7 days preceding such, special. record date. S,ucli notice`-sha11 be mailed to tl1e"pereor1s ifi Whose names the 'Bonds ai•etegisterod at. the' loso , of busi mess'I 03-L the fifth (stll)' day (Whether .or not Via"business day) preceding the date of ilia i li#i'. Tliis ) o#id ``is etie of an authorized issue ref, bonds i#i - the initial aggregate principal amount a�f $10, tJ0(J, 000 of like date; tenor and .effect, except as to number, maturity (unle:5s all bonds Mature on the same date) and interest rate, issued, to provide for certain capital improvements of the IsSue r°, pursuant to the alltliotity of a#id zn full com- _ plia�nce with the Cotistitutioii and: laws of .the State of Florida, incliidiiig particularly Article V.tI; Section 2 of the Constitution; Chapter. 1"66-,:_,Florida Statutes; _Ordinance No: _' _ duly enacted by the Issuer on July 9;" 1987 as supplemented by Resolution. No. adopted by the Issuer oii July '23, .1957; cali4i certain other ord tzar -ices a#Yd resolu� tions of the Issuer (collectively, the "ordinance"}, and. other applicable provisions of, law. T2iis Bond is subject. to. All the terms and conditions of. the Ordinance. he principal of,Eor the, prompt. payment of tiedemp" ` tion premium'," if any, and interest' on this Bond as .tile same shall become due, the full .faith, credit aizd taxing power of .the Issuer are Hereby irrevocably pledged`. The Bonds of this series scheduled to mature.on: n: - August 1; 1998.;,or the.reafte,r, shall be. subject to, redemp- Lion, prior to their maturity ,at the option of the Issuer 'on or ' after : August 1, _ 199.7 as _a whole at I any` time . or In. part on s any interest payment date, in inverse order of maturities and by :lot within a maturity, at the redemption prices: Jexp-ressed as percentages of principal, amount) set, forth in the following .table_, plus accrue iiYterest from tire',. most recent interest: payment crate to ,the redemption date ds Redemption Perio Redem t p ion ., Both Dates L`nclusive.) Prices 7 August 1 i. 1 I99 to Ju1 98 31 9 Y. s " . August 1 1998 to July. 311, 1999 101% August 1, 1999:and there'a£ter 100 t Notice ::of call or redemption is to be given by., marling a copy of the redemption notice by• registered or, certified mail at least thirty,(3.0)�but:not more than sixty' (60).days'prior,to the date fixed for redemption to the re'g istered' owizer of ,each Bond to be redeemed 'at the address shown on the registrar's registration books.. Failure to give` such notice by mailing to any Bondholder oz. any ,defect therein, shall not. affect the validity 'of the proceedings for, , the redemption of any Bond or 'portion . thereof with respect to which' no . such ' failure or.. defect has .occurred AI'T such Bonds called for redempt on and for the retirement of which.':funds are duly, provided,.Will cease to bear. interest",,,, on such redemption p tiate. Oi3 d Reference is made to the. Ordinal e for the provi,- sions among otlie# s relating to the'. terms, 'li 11 and secti ity for the oiids; the custody and applic4tion of the` Proceeds "of the Bonds; the rights and remedies of the hol dens; of the _Bonds,, and the extent of and, limitations ,on the issuer' s rights, duties and, obligations, to all of whac pxovisi.ons the registered owner:hereq'f assents by acceptance hereof,. 'phis fond . 5 � 1 not: be :valid or become .obiigato y for. any purpose or, be entitled to any security or I?enef4:t under th' Ordinance until',the Cert ficAte.;ot Authenti.catiop lO �,4 nations, fof the same ac gregate �rii» ipal atnotifit 'af�d payable ftotti the saga soui:ce...0f funds; The issuor and the ' Bond hec isti a r Wray charge tile' owner ofl such Bond for the rec�is- ttation of evo y ti:ah8fei• of e change of a Bond ',an aftiotint sufficient I to reimburse them for any tax; fee or any other gbverhMental charge i.{equi red' (other than. b : the I ssuor) to be paid with respect to the registration of such tratisfer, and tray require that such aMovints be paid before any such net and s�ialI be delivered. y If the date for payment of the p�`i,t�ciPa'1` of, pre- tniutri, if an or interest on thi s Bond -_,hall be a Saturday, Sunday, legal. holiday or a day on which banking institutions in the city .wherethe corporate" trust office of the, Bond Registrar is. located are authorized. by 1aw or ekectrtitre or- der to close, then 'the date for 'such palmer7t, shall be the nett succeeding day. which' is not a Saturday, :Sunday, legal holiday or a day on which, such banking institutions are.; authorised to' Close, and payment on such day shall have the saMe force and effect as if trade on the nominal date ofjl ayment.. _ P , It is hereby certified and recited that this Bond is authorized by and is issued in conform'i'ty with the requirements of the Constitution and statutes of, the ' State Of Florida', that all acts, conditions and things- required to exist;: to happen, ° and to be precedent 'to'. the is - pp pet fortneei suance of this Bond exist,! have happened and have. been. per- formed in regular and 'due form and , time as. required by the labs; and Constitution of the State of Florida applicable, hereto,' and . teat the issuance -of,' the Bonds of this issue does not violate any constitutional or' statutory limitation or ProvisionL. [Form of, -Abbreviations for Bonds] ,. The. following abbreviations, when used in the in scription on the'fac'e of the within Bond, shall be'construed as'though they werewritten out in full according to the ap plicable laws or, regulations. :TEN COM - as ,tenants in cointnori TEN ENT - as tenant's by.' the entireties `J.T TEN .-. asi joint tenants with the right 'ofsur vivorsh' arrd riot ,as tenants in common UNIFORM GIFT MIN ACT `_ Custodian (Cost) (Minor)u under Uni.orm Gi fts to Minors xAc t _ (State) Additional, abbreviations may also be used though not in the above I ''t [Forth of Validation Certificate] VALIDATION CEgTIFICATE i a series: bonds t T�1,i EQnd is one O bat .were valdated and caxrfit teed, by judgments o the, Eleventh J AdZgi.al Circuit Court in and, for page ,County, Flom d.a. rendered on j nusxY il, 19$2, ju1y 11, 19$4, and; .?u1 2C ��# fill iaitII credit And ta+tinc ,owe of the, Issuer a3 ire revocably �ledgod to the payment of the principal of , pre-, ill iI'M if ari a' And 11it6t0 t oi' the 8olid e. receive takerevenues and gent1yeenforcelaliid�coll to �t �. collect such tastes: The, issued . will' not take any action that will impair or adversely affect its to 'levy, collect and, receive said ta1tes, 1 or impair or adversely, affect in airy manner the pledge itiacle hereiiz or the ricJ2its, of the holders of the Bonds. SECTI© 10.' Copipli'ahce With Tait Requirements. The. Issuer,Yeieb ants and agrees, for' the benefit :of the owners .from, time to time of the Bonds, to comply with, the requiremerits applicable to it contained in Section 103, and Part. IV of Subchapter B of'C'hapter 1 of the Iiit"prnal Revenue, Code of 1986, as amended ( the „Coder!) to . the extent neces-' nary to preserve the exclusion of interest on the Bo rids from gross" income for federal income tax purposes. Specifically, without intending to limit in any way, the generality of the foregoing,, the Issuer covenatits and agrees : (1) to pay to' the United States .of America from the funds' and sources of revenues pledged 'to the - payment of tl-ie' Bonds . , and f roin : = any othe to legally available funds; at the. .times required pur- scant to Section 148 (f) of, the Code, the excess of the amount earned : oiZ all nanpiirpoSe investments (as defined in Section. 148 (f) (6) of the Code) over the amount which would have been earned if such non i ptrpose investments were invested at a rate:_ equal to the yield, on the Bonds, plus; any income" . attribuz'able to .,such excess (tile "keb'ate ,An1o' until) .: 2 to maintain andiretain-all.records per- raining:to and to be responsible formaking or _ causing to be .made fall determinations and calcula- tions of the Rebate Amount and required payments of the Rebate Amount as shall be`. necessary .tocomp 1y,. with the Code; ('3 to' refrain from using, ,proceeds ,from the Bonds ,dri a manner that would cause. the , Bonds or any of them, to'be classified as private ,activity bonds �. under Section', 141 (a) of the Code.; and (4) toi refrain. from taking any action that ap- become',. bi:tB rage, bonds�uii:der' Section -103 (b.) .:and Section 148'"of.,the Code. The issuer understands that_the-f"oregaing"c�ovenais" impose continuing obligations on the Issuer to, comply with the. requiremer-its of Section 103 andPart I`J of Subchapter B Of Chapter 1 ,of" the Code so long as such requirements are applicable:, SECTION 11, Bond Registrar and Paying, Agent:, The Issuer, hereby appoints NCNB National Bank of Florida, Tampa;, 'lorida, as the Bond 'Registrar and Paying Agent in- connec- tiQ with the Bonds " SFCIT 1 ON 12 , Amendment Ordinance No .' 91 Seo da. � 8 of Qr �• a 2 t�o4: Q Qrdinancp No, 912.8,, adopted Qn Ju1y 0, 19$0. is hereby deleted in z,t 'entirety and the following is I.., ee�ted lei lieu' thereof: 1 SECTION .16, Coll forfnarlce of Prey ious Ot di#lances and Resolution All ,pro. islons of the -Previous C inahces Atid :esollttibns to the extent tile are, incoilsistent or conflict with the, terms hereof;" including,. but not limited tb, Secti sti g `af esoltitI'On No,. 8 -62B, ' Section of =Resolution No. 85-28g; and Section 3 of Resolution No'. 8�i81�afe hereby affiended to conform ' herewith, and, such Previous' Ordinances aid kesolutiot 's are supplemented hereby,. SECTION 17 IhVestment of Proceeds of Bonds: All p�.oceeds of the I3oticis' field by the the Issuer- may be jii�re:sted by the I ssue.r in obligations of states. aiid- their- pol ' �'ical sub�- divisions the. interest oil which is, unde3` the Code,, excluded from gross income for federal income tax purposes, inclurly inq; but hot,'limited to, stock of qualified, regulated in vestmeht companies as such:term is used in 11nternai,Revenu'e - SerV'ice Advance Notice 87-22,' released on, February 24; 987, ih such other investments as'are:permitted by'applicable Iaw. SECTION 18. Preliminary afficialStatement; Official Statement. The Issuer hereby approves the form ,and content of the Prelimihar'y Official Statement in connection with the Bonds attached hereto as Exhibit:1). Distribution of: such ' Preliminary., Official..' -Statement by the Director .of Finance, of. the'Issuer 'to prospective purchasers of the Bonds'° is heeby ,authorized,' as is use of -, the : Preliminary, Official Statement in connection� with the marketing of.. the , Bonds: The Mayor, or Vice Mayor',of the Issuer is hereby authorized to approve and execute, on behalf of the Issuer, an Official Statement relating to. the Bonds with such changes from the Preliminary.Off icial Statement As.the Mayor;.oi1 Vice Mayor .in hi.'s sole discretion, may approve, such execution -,to be ::con elusive eviderice of such' approval., SECTION 19. A_ut_horizations. The Mayas, . the City Manager and. the Director of Finance of the Issuer and ,their designees are each .' designated as agents of the Issuer. in connection with the sale,.," issuance and : delive'ry, of the Soilds „and are "authorized and empowered, collectively o'r individu- ally, to:take,al;l.actions and steps,'and to .execute all in- struments, documents, and "contracts.on' behalf of the Issuer that are necessary,or desirable in ,connection with the .sale, execution;, issuance and delivery of the Bonds and which are not inconsistent wzth the ,termsanprovisions oftYisd Ordinance. 'SECTION 20. Modification or Amendment.. This Ordinance may be modified and amended and all appropriate blanks appearing Herein may be completed by the Issuer: from time. 'to. time prior. to the" issuance of, t2�,e_ Bonds . Thereafter; no' .modification or amendment of tins, Ordinance. or hereto i or ordinance amendatory, or ,of any resolution hereof or sup.- p materially adverse to the holders of the_ s o� notmadeSs' � sen �n aggzega.te the ow '` Bonds may be without the.con t in writing of ner than' a ma ority.i principal amount of the outstanding Fonds, but, no modification or amendment shall mature p Lmit a chahge (a) 1n the, maturity 'of the Bonds or a rpducti.oil in the rate of interest, th I reo_n.'. (b) in the amount of the principal obligation of any,,Bond, ('e) 'that would "affect thcpromise of, the Issuer to, levy and cp�.lect, taxes as jaere p provi.ded, or (d) that would reduce such.pereentsge of holders of t)1�' 5onds required.:, aioY'e .for sue 2 mod fiQations or .amendments, wi.tbl�ut ,the eQn�:: �3ondho eQnds. Fs�r the purpose of sent o ail of the holders,of th or h��.d for the account of ti'i�consents, the �9�tdS QWrled by- lders voting rights or ' Issuer., d rect y or, in da rec.tlys,ha1I not be counted, 1 +,. SECI?It�N .. befeasattee aid Release: Tf; at and tame aftei: the dat"e of issuance of the Ponds (a) . all fonds secuttd hereby, ot• any matiira"ty theteof �� 8ha1:1 have become due and payable in. accordance, with their terms. or othe.rwisfio as plovicled in this Ordinatce., ot. shall have been drily called tot redemption, o .the Issuer gives the bond. Registrata, and Paying Agent krrepvocable inst actions diiectinil'the payment — of the principal of, premium, if any, atid'"'interest, oii 'sticl'i Bonds . at maturity ' or ..at any, earlier redemption date sche- " doled by the Issuer, or any combiiiatioii thereof, (b) the fit11 amount of ,the principal, premiuri, if any; , and the iti- terest so' due and payable upon all of 'sucii Bonds then out standing, at maturity or Ripon redemption shall be paid, or SuffielitmoiZeys shall -be field by the I Bond Registi:ar and Paying Agent 'all escrow agent or an Authorized Depositary in irrevocable 'trust for the benefit of such holders of ottds (whether ornot in any accounts created heteby) which, When invested in direct obligations of the United States, of America maturing not later ,than the maturity or redemption dates of such .principal, premium, if Any, and interest, Will, together ,with .the income realized ' on Such in*,Testments, be.sufficient to pay all such principal, premium;if any,, And interest oil said Bonds at the: maturity thereof or the date upon.c.}hich such Bonds,are to be Called for redemption prior to maturity, and (c) pzovision;shall also be made for paying, all; other= sums", playable Hereunder 'by the Issuer, then. _ and iii that case the right, title and interest of Bondliolders hereunder shall thereupon cease, determine and: become void; otherwise, this Ordinance shall be; continue :aiidremain in full force and effect: Notwithstanding any. r thing :in this Section 21" to,the contrary; however:,, the obli- — gations-of the, Issuer, under Section 10 hereof shall remain, in full.force and effect until. such time as such obligations are fully satisfied.. SECTION - ON ,22:. Severabil If. ai' one or more of tlie covenants; agreements or'provisions ofthis Ordinance y . any express ; prove sions: of law, or shall. be- herd contrar to contrary to the policy'o£.express.law,,-though not expressly prohibited, or' against public policy.. or shall for any reason whatsoever"be held, invalid, them, such covenants, agreements or, prove sions shall be null and void and shall be deemed separate from the remaining covenants; agreements or provisions of thin Ordinance: or' . of the' Bonds issued hereunder. SECTION 23 No, Third PartyBeneficiaries;. Except as,lierein otherwise expressly provided; nothing- in this Ordinance expressed or implied is intended or shall-be,con ` strue'd to confer upon arty person,. firm or corporation, other than the; parties hereto and the owners and holders of' the Bonds issued under and secured by this Ordinance_ any",right, ? remedy or claim, legal or .equitable, under or byreason of this Ordinance or any provision hereof., this "Ordinance and n all its provisions beig intended to be and being for the sole and exclusive,' benefit of the parties. hereto' acid the ow Hers""and holders from time to time"of the Bonds issued hereunder. 1< SECTION 24. Cont rolling La, SECTION of Commission. and Otficia'1s of- Issuer Not Liable Ji ll ecavenants, stpta ti ons,' obl� gations and agreements of the Issuer contained n this Ordinance sh'aII be deemed to be covenants, t stipula g re bons obi i ao:> . and agreement of the I s suer to the ful ":. e, ten auti�orized aid Azov ded,b r the Constitution all d, 1A 5 of " t)le t to of , E' oz^ida . No �oover.z t, stipulatj on, pbUga o covez�rt4grent st beret rl shall. be deemed to',, be.' a, cpnta�.�ned ' pulatiol n, ob�.igatiQP or agreement of any pre sprat or,trtre member-, agent Qr employe of. tl e Commission b ienttive List 6f �wo'ts h,n�+�d toybo Fihd Sat bb:�..� 9�t ..on ,go W� th Pee. ceed�s b# lg8'�; be�or�l ,— Si;reets Hi ghwayt Bonds S 1,Ob0,000 ; Morningside Street Improvements Street, Improvements. IVase 1,100,000 'II 1,800 000 Alta attah P ' ..Phase Manor Park Improvements 500000 Rebuild Sidewalks �.Stree ts-, - — Sewe Sanitaryr Bonds _ � 1', 000 , 000 Fla-gami Improvements 1,000,OOQ Flag1e.r 'Improvements 500,'000 - Citywide mprvements 09000 ,0 Pol i'ce Bonds -985,000; r Property Unit 8 Auto .Pound b':Peripherals: 515,000 Police .Computer $ 1,50'0,p00 Sewer Storm Bonds 8)0,000 xF Flagami=Storm Sewers . Pro3e cts 200,000 Local. D,raina9e �.1,000,000 $10.0 00,.000 7otal:Bond Sale i .euewA+rt' _ L€6AL k6tiOL . " All interested persons will tbke trobbe that on the 9th dby of July, 1987; the City Gonnrrii§tIon,of Migeni, Ploride, adopted the following titled ortlinehces; ORDINANCE NO.16291 AN EMERGENCY ORDINANCE OF THE CITY OF MIAMI, FLORIDA; FIXING: CERTAIN DETAILS CONCERNttJia THE ISSUANCE OF THE CITY°S $5,00O.00o STAttl AND HIGH-, WAY IMPROVEMENt BONDS,.$i,5co,000 POLICE HEADOUAR•. ; TERS ANb'.CRiMEPAP_vENTION FACiLITIES BONDS.. , $1,000,000 STORM SEWER IMPROVEMENT BONDS AND . NDS; t2,500,600 SANITARY 'SEWER SYSTEMIN BOTHAT G5TNER .G_ SUCH BON D'S SHALL AL O$LIGAilON5 OF THE.G fiY; AMENDING 01 b,INANGE,NO. 9128,AND ORDINANCE NO: 9129; DIRECTING AND AUTHOR. 12NG SALE OF THE BONDS BY PUBLIC BID AND;DIRECtING PUBLICATION OF THE NOTICE;OF SALE OF SAiD, _BONDS ' .. M IA M IVI REVIEW,' " AND ESTABLISHING THE DATE AND TIME FOR SUirH. SALE " APPROVING THE, FORM OF A PRELIMINARY OFF)CiAL " 0 3 t+ cu:+r; Lars. er met oa'u«iay: urn,, 3y :}^ STATEMENT PERTAINING TO"SAID. BONDS AND AUTHOR- ie�aN.nctar,; (ZING THE DlSTAIBUTiON-THEREOF=' TO PROSOE'CTWE 'OF. PURCHASERS; CONFORMING THE TERMS CERTAIN 7+.tali i1,37e: ui+t : r irttta _ OTHER ORDINANCES AND RESOLUTIONS, iNCLUDING SPE• STATE OF FLORIDA CIFiCALLY RESOLUTION.NO. 84-628,10 THE TERMS NERtl. COUNTY OF DADE: :,,OP; AUTHORIZING ACTIONS. AND EXECUTION "OF ,DOC'U : " MENTS BY OFFICIALS OF THE CITY:, APPROVING THE USE Before the 'undersigned .authartfy personally appeared - ". OP BOND INSURANCE IF.REOUESTED BY THE PURCHASER Sookie Williams, who.on,oath says, that she is"_the Vice —OR DETERMINED,$Y THE, ISSUER TO -BE DESIRABLE;; - President of Legal Advertising of the -Miami Review, a daily DECLARING; AN EMERGENCY' TO tXIST PROVIDING AN (except Saturday, Sunday and Legal, Holidays) newspaper, EFFECTIVE DATE; AND MAKING CERTAIN OTHER" COVE -`- published at Miami in Dade "Count , Florida; that the attached - Y NANTS AND AGREEMENTS IN CONNECTION THEREWITH:" copy of advertisement, being a Legal Advertisement of Notice ORDINANCE NO: 10292 in them iter at AN ORDINANCE AMENDING SECTION 1.'OF„ORDINANCE ',CITY OF MIA► SI ADOPTED DE NO, 110187 A CEMBER 11,, .1986; AS AMENDED, - ORD NO. 10291 THE CAPITAL IMPROVEMENT APPROPRiATIONS "ORDINANCE, . BY INCREASING THE APPROPRIATION TO. THE CAPITAL ,. IMPROVEMENT PROJECT NO.-322047, ENTITLED: ''BAKERY. ARTS COMPLEX' 13Y $54,000 IN THE FORM OF A LOAN;, TO BE UNAMORTIZED AND NONCUMULATIVE ASTO INTER-' EST AND PRINCIPAL AND SUBORDINATE ONLY TO EXISTING _ ?ClX AMORTIZED FIRST AND SECOND MORTGAGE; TERMS TO in the Court, RUN CONCURRENTWITHTHE EXISTING FIRST MORTGAGE;' was published In said newspaper in the issues of : TERMS TO BE RENEGOTIATED SUBJECTTO ANY NEW FIRST MORTGAGE REFINANCING; SUBJECT TO REVIEW AT FIVE- Julp", ll, 1987 ,YEAR INTERVALS FROM THE DATE:OF.THIS APPROVAL; _ CONTAINING A REPEALER PROVISION AND A SEVERABIL- ITY CLAUSE. ORDINANCE NO: 10293 . AN. EMERGENCY ORDINANCE AMENDING SECTION 1 OF Affiant "further . says that the said Miami :"Review is a ORDINANCE NO,.,10187, AS'AMENDEDi ADOPTED "DECEM- newspaper published at Miami ,n said Dade County, Florida. and that the said newspaper has heretofore.been continuously BER 11 1986; THE.CAPITAL IMPROVEMENT APPROPR)A-'. + published. in "said "Dade County: Florida. each day iexcept "" TIONS"ORDINANCE; BY ESTABLISHING,'A NEW CAPITAL" : Saturday: Sunday.and Legal Houdaysl and has been. entered as IMPROVEMENT; PROJECT ENTITLED: ""POLICE DEPARTMENT second class maN' matte( at the post orrice In Miami in said Oade".County., Florida. for a period of one year next preceding EQUIPMENT ACOUISITION=87" AND APPROPRIATING PONDS' the'tirst publication of the attached copy of advertisement: and IN THE,AMOUNTOF $374,000 FROMTHE1970 POLICE GEN•,. aftiant,f r says that she has neither paid nor promised any ERAL OBLIGATiON'BONDSIINTEREST, FOR =THE ""PURPOSE,•'• person Iir or corporation any discount. rebate, ,commission or ref nd t r the purpose .of securing; this, advertisement` for OF REPLACING EXISTING POLICE ISSUE WEAPONS AND: public Ua in phe sad newspa"per OTHER, EQUIPMENT. ORDINANCE N0. 10294 . AN EMERGENCY, ORDINANCE AMENDING ORDNANCE NO, 10187; ADOPTED DECEMRER 11;,1986, AS AMENDED, THE , CAPITAL, IMPROVEMENT APPROPRIATIONS ,ORDINANCE, ; Sworn r `4 subscribed before me this BY ESTABL-ISHING "A. NEW "'PROJECT.:ENT:ITLED ; ` ' "OVERTOWNIPARK WEST SANITARY',SEWER REPLACEMENT 1% ea , ( ly A_t7; ts$% AND.APPROPRiATINGFUNDSTHEREFOR"1NTHEAMOUNT .. _ OF. $900,000; BY INC THE AOPROPRIAT16NS FOR ONE PROJECT ENTITLED. "CITYWIDE SANITARY S��E/�WyE{/R�:; Octe)ma Ferbeyre EXTENSION 7MPROVEMEN TS` 1N THE AMOUNT OF $301000; , fVa ary P,ubiic $tale of Florida at, Large BY' REASSIGNING"THE .SOURCE OF FUNDS ON TWO (SEAL) f i PROJECTS ENTITLED "SOUTH Ff-AG!_ER SANITARY;SEWER-" My Cot sfon; Qx,pifes;,July 9t d990 t IMPROVEMENT'S AND "NORTH.FLAGLER,SANiTARY SEWER . + ' IMPROVEMENT" FRQM;1980 SANITARY SEWER GENERA!. �. OBLIGATION BONDS TO 1975 `AND..1876.GENERAL I OBi "IGATION.BONDS'IN THE AMOUNTS OF $2,S85;000AND., $1,715,000.,RESPECT.IVELY; CONTAINING -A' RPPEALER'" PROVISION, AND A SEVERA131UTY WLISE: € ORDINANCE NOr 10285 AN`ORUlNANC.E EMERGENCY ORDINANCE AMENDING SEC TION 1 RF •CRpINANOE:NO: 10187, ApOPTED DECEMSER 11,1I386, AS AMENDED, THE CAPiTA>- lMRROVEMENT APPRO• ,: PRtATfS�NS Di}DiNANCE, RY ;REClASSiFYfNG AND INCREAS -.. 1NO THE APPRQP-;RIATIQNS FOR THE PROJECT `ENTITI EQ: "PINNER .KEY :MARINA RENOVATIONIFXPANSIPN', :PROJECT :- . NQ, A1A04i$i, AS. FOB Lt?WS:: REOiEAS5)FYII�ta APFR4�PRiA TiONS 1NTHE AMPUiit CIF: $�,40-0io QQ FROM DIIYNER KgY' . MARINA► h�ETA1NED EARNINGSANP IN THE AM9�?NT DF $12,6t34?,(XaiD.FROM -,MARINA F19VENVE RONO.FUNPS,'FOR A TATA� NET tNOREA SE TA Sf►1C1 PROr;OT;iN THE AMOUNT : OF * 7'9Q. 1; YONTAIININQ A AEP.EALER P#II�Y1Sf 1N AND A REV)ERA61t.1TY CLAUSE. I'It1..I.1NA1SA1t% 64-11CIA . �;'1 1'1 I;�iI; 1 IlA"t Lt� .ti.'1:1` _ 1991 III tllc opinion (jfBohd Couirs-e crud CO-'Bolid "olms(,I, ('010illohed 111�oit coMpliwiet, with c^cilifitl athltrak& relittte and tither tax 1,eq rirellite is etwd to IlVreiir. Illider ixislllir;, /a vs, iitteresi on the liohrA is erchiderl f, oss invotile lilt lt'r t'rel/ itit nttit i(& pi1g;losi's and wd/ hot he trp(ittrd,as ah iti'in iri.t f)fektt floe In co iil)ntitip the alteriioill,V thitliilJt M t'rt.t'tot itejil'ichial,S and ('(lrl)oedtloiis., Intetmt on the Bot ih will, hoit�es,er, be taken itito urcolint in ('01hpiitirig ah ddjustitJent idde in ,det&ihinihR a' k,oiporatioh's idlemath-c' tniniitinin tax, wild hullers of file Rollels could .he sto, the,- 6 W Cotise('lnences of router IlroNsitins (r/' the: Intrrnod Reven tic, C:°tide o 1986, (is aalretider(l; as cs �, liirther descrthetl /Jereitt. It? .tht° c>liittiein oflluitd.C"rjitiisc�l and C"r.> /3t,nd/ C�t�utJ.sc>l, ttitrit"r ,C elvistiil,s; law, tllh Pon(H art, ul o m-e mpt;t`om,present Intail iMV per:' oral jirvpehi t(t.tes. iiltl?(isett hi -the Stvtc= of'FIorirMa Set': "T x E-Ixemptio m C-oe Tar C/e'heeii: t, nd,1:M, ISw Credit ku(Ih ws (- ` tandnrd 11t) ot's. E�°' cn - GENERAL OBLIGATION�30N DS $1,500,000, Poliai l;-ficadiipArte'rs and Crime C revtntit►n 1 at.M6e fi3t►► d' - Q�ro 5l'ooC1,mm Sloem Sewer Imps-6vemelnt Bonds _ S2,500,060 Sanitary S61ver System Bonds $5,000,�()Q Street and Highway improvement I30"nds CM o o Daled.. August, L 1987 Due: August 1, as shown bel0 Interest on 'the Bonds is pa ble semi-annually on February i and :August I in each year, commencing ' — ° February I ; 108. The,Bonds are issuable as full] registered bonds in the denomination of $5,000 or integral . ` o .' multiples thereof. Interest on the ko- nds will tie payable to the registered owners shown on the,regis'tretion.' . �.o c, books 01' the Citj of` Nliami; Florida (the "City") on the fifteenth day of the' month ;preceding an,interest - (n Ci cz - payrnetrt -date, by check"iar draft mailed to such registered owners b�. the Bond Reektrar and Paying Agent.- - The' 'principal and premium; if any, on the Bonds are payable.upon presentation and surrender, of the' . N Bonds at thc,c}f1'irc.ol' iVCNB_National Bank cyt rl:orida;'or Its .successors car..assigns; as Bind l2eeistrar ;.- W a �, and Paying Agent (the `.'.Bond .Reeistrar and having Agent") ,in the City of Tampa; Florida o „. The Bonds maturing on or after August 1 1998, are subject to redemption at the. option of the Clt� . o o on or after :August 1, 1997 in %vhnle on ani•: date, or in part in, th'e ihserser order, of their maturities tbs '' E' � E E IE lot within.any: maturity) on any. interes[ payment date, at redemption prices ranging from' 70?gin to 100°0 CD 2 6.. . -N p lus.accrued.interest, The Bonds are general ntilieations of ,fie Cits for; which its full faith, credit and taxing power are pledged, E o = :. and are payable. from unlimited ad :�•alorem taxes levied on all:taxable. property in the Cit> (ezt ludrng 0o r, y homestead ex' emptions,, as required by applicable. law). MATURITIES; AMOUNTS, RATES AND. YIELDS OR PRICES (n- E .= o _ (Accrued interest t(i be added) Mtaturil> Yield �tuturily Held Date Principal Dale or Principal or Ln Aukusl I .-Amount I Rate Piiccl Aug6sl I Amount - Rate,_, Price E_.°S c 1989 50,UO0, ')00,1 Ss95,000 � Cc.0 o 1(nD, 1990 260,UQO 2002 640;000, > in,. Cn 199.1285,,000 : 2003 690,000.. - ti � L : 1992 305,00(} 2t)04 745;U0Q 1993 ._ 325 00(j:, 2005 800,000. .� 199 350,000 '2006 860,000, 1995 385,000 2007 930;000 0051996 41O,U0Q 65,,000 .. ' o0 C. 1997 44000O 70,OQQ �. a 1998 000 480,000 2010 75' 1999 520,000 2011 80„000'.. o. QQO 555,00085,000 The Bond are offered wticn, IS and if issued and riCeived b� .the Unden►rrters, subject to the unqualified - „ approval of legality by Holland'& Knight, Miami, Florida, Bond Counsel; -and. Vincent P,-NkGhee, 11 N .-. Miami,. Florida Co -Bond Counsel, and to certain oilier conditions. It is expected that.the Bonds in definitWeil form will be available fordelivery in Ne-s� fork, fyew Turk, on or about:Aiieust 1987.. ' Se ed.'p,roposals will br teceiVed bs the Commissi(in of the C Its, at its regular place of: niectine to ' the City, Hall, 3500 1r n American brive, Mianii, Florida, until 1 l :00 A.!\9„ Miami time; ob July 23; 1987: ` Please refer to .lhe.Offic.ial Bid Form arid, Notice of,Sale; �whiCh Outline the jcrnli and conditions ,for the `'- subntlsston :of offers to purcliase the Bands. „ 'f his tlficral Staterttettt dues tt i " not cts�3fitttte an Defer try �pli ttcitids fti.ati}' litfsdiCtion to tint person, to tthbm it is-uttiar4ul t0 mok sixth ttlw in such joisoictiott.'No dealers salestnonj tir'dny artier firswn has been atithotifed by the City to dive ativ ,Ittftirttttitio bt brake aril iepresentsftlott; tither than those contained herein, In f ontteetittii' with the We'ritig t f these.Itob& anti, If given or rtiade, such ittfoffidtion i6f f#pweserttatiott must not be retied upon. The infottiintiofi uttd etprrssidoN of opinioti herein are subject to,ehdflge without notice attd tieithit the dellveh of_this Official LStati4tnent not anv sate 6de hereunder shall, udder any cireu istatices, Create atty.ittlpllcailon that 'there i -111 ne no ehaNge in the aftairs of the Cite i'tor��the date fieieof tothe, a date of the-delivety,df the Bot►ds, but seie�ptiragro'aph '� � �hrad@�t � �o�in� Certificate herein: TAtlL ' tlt`'Ct7: taage I)eseri tibn ,of the Issue p tact Introduction . financial Information .. . The Bonds .:. ..:. General Description of General InterestPayment Dates:. . ...... Financial Practices ....... Statement of Revenues, Maturity Schedule.': , .. , .... , and .`Expenditures Optional Redemption Description of Revenues . iti'otice of Redemption Tension Trust Funds Registiatiott and Transfer+ Procedure, for Tax Levy and o f bwnership, . , ..:...:. Tax Collection Security,:'Authori2ation Tax Schedules and.Tabltrs . and Validation.. :.. : Labor Relations. .Application` of Proceeds .. Risk rlvlanagenient :. Tax Exemption; income Tax E fCects .: :" :, Economic and Demographic Data. Credit Ratings Introduction and Recent Litigation .................... e .: Developments „ Auditors.: .. :. Metrorail Approval of Legal Proceedings Bayside' Closing Certificate .. Bayfront Park :. ... . outheast vest wn/Parkwcst S O o Debt Summary: D cn Sports„ and Exhibition'';C to ., Pa yrrient of Bond y sand Bond Election Corporate Expansion : . Requirement.. . . ' Industrial Development . Debt Statistics, and Various! Financial. Institutions . Debt Ratios ... Tourism Legal .Debt. Limitation ....... Film Industry.. ... .. . Selected Debt Data Agriculture General Obligation_ Bonds Authorized Export : .................... But Not Issued : Miami International Airport . Proposed Issues .of .Debt' Securities Port of Miami . , . . Capital Improvement Plan Demographic Data . Financing the Six=Year Capital Retail Sales ....... ................ Improvement Program; . Employment.: . Leases and Other Commitments. -Housing ... .. Building Permits ..' Description ,of The City Approval' of ,Official Statement: The City ...: . . . . Geography Appendix Climate'. ........... A. Financial Section of'Compmhensive Population . Annual Financial Report Govcmment,of�Miami . ... ("FINANCIAL,STATEMENTS") Mayor and City Commissioners. Report of Independent Gertificd Administrators of the City Public Acountants .,. Scope of Services and Agency 1 'Genera!"Purpose Financial ... Functions , Re tonal Government Services., 6 Statements..-. Notes to: Financial.Statements . Medical Facilities ::.. , . ;':. .. .:. uppie ng. a S mcncal.,Gombini nd Recreational Facilities Individual fund Statements Cultuial Facilities and Affairs.' B. Form of Opinion' of Bond' Counsel Educational Institutions C. Letter of City. Attorney I aqu,Wwb•'+r Mom+ U 1, i "' „v n '.vm -n ,c and for eetiremE:ne o!C% occurred.All such:Bonds- called_ for redemption All wlit: cease to bear interest on such redempn d ate- S: , 1 ait£ritxrltedulc son Bond shall et fortlu ehE: to � .. QI ce Hes►dqunrters_° - - - Sanitary Street and - - - - - _- - - f t f d m ion of any _ - - - - - "beach Bond bem� r deuced°„ tiiE;: date of pub��naT�� t e -"- - - -' - - and Crime ` Prevention : -t Storm " x; hw�ay . -, Sewer:, Sewer S lm rovement System improvement ^ Tota! Principal' interesttborne Of the Bond"RC�IStraF allf� PayiItg; i�Pe;6�„ 6�fe"SE:E�00i, xEat1 he name and address. bc'�led o GedE P�o�*_ lt :. taahues . 'slssr.t+ Bonds p Bonds Bonds .' Bonds _ ----- Amount--.. ".50 Bonds t en 0 . ainclludin such Bands to b� rE:EfEa�iE:E$ a�c�� u -aiY ---- -- 3 5 ,t -----` -0- . " 15,000 , ; "-0- 000 2601000 _lettersless tubers. any, CUSiF nu950 portion of the principal am punt thcrCOf"Iftb ._. - 40,00ROU 25,0(>0 70 00fl 135,000 - 285,000" only, " the redeemed in"part o " notice of redemption;hi reCatea tag suer ,. 000 ^Q,ODO 75;000 145,000 b"e redeemed. in part only;"the upon surrendeg of suelt Bond, a nttw BondOf Bont trl - 20,000 80,000 160,000 305,000 of er the redemption d ate. f "of Bond v�titl: be tssuEE�. ., :....-.. ,... v s _0, >.. . Q 00D 85,fl00-. 170,000 t- '90 000 185,000 325,000 3501000 I to the"unredeemed portion such - all notices of tiedempcio> to beT sent tc all rC to __ - 55 ,000 D,000 25,000 _ 100,000 : . 00,000 385 000 , The Ordinance also requires amounts: of obligations similar in type F the n and pp1 N . 65 "Q00 - ry: 000 OS 000 215,000 _� , 1 " 410 000 ,_ ' holding substantial_ BUYER, but failure of any notice of redemption t0cOMPt., wit%stic BO cnll fo>X reEletnp.�mta of � 5,00C1 30,000 115,000 230,000_ 440,000 affect the effectiven in any ess of a Sh E manner ;, r c 0t�~t ..,. „.� -3 125 000" 150,000 -_ �0.000the_ 270,000, - " 480;000 . 520, 000 - Ordinance: - 80,DOG SS :C?(} ." 000 135,000 35,000 145,000 290;000 535,000 Registration"and Transferor Ownei"ship ,.... 9t?,t�i10 4D,000- 155;000 310;000 3351000 595;000 " 640,000 The Bond Registrar and Paying "Agent shall: keep a register foe rERgtsteie�t books kept �� eIte l�OnCl�_1�E 100,000 . -- -- - 105,000 40,000" 165;000 45,Ofl0 - I80,000 360,fl00 _ 690,000 Bonds�may.be transferred _only ort the registraeion. esentatiotn an SLjl¢I F;o shall te eu - be PermiePaying - . .' 45:,000. - 495,000 " 390,000 _: 745;000 , " .No transfer of any nd a wntt4� ins �t o>r !hart Agent oath tam r Bond Bond telsttE1' f th1D _. _.. - ia0;U00 S.D 000 . -..10,000 420,0 450 000 225,0ao , 55,000 - 860,000 -- and with guaranty- guaranty of s gnatures aEisfac ocy to,the of by his attorney in €ace or tee pept<esent;at>t�E;,; �l - -! �. ' 60,000 245,OD0. 485;000 930,000 person, owner ofsuch"Bondinp . trans of such.Bond. along v�ilh the soCtap.s� 140,000 - 65;000 65,000 details of to the . . identification number:of the ansfert:E:. ThE g t�ta �h b Q nawtnne o es _ -, ffl, 70,000 Z5,000 deem and treat the registere "owttE:>* of any . U u sum crest; .. , then Po 75,000 80,000 receiving pa yment of the principal thereof trustoGfiC of the Bdn ,1 80,00C1 85,000 _ .. 85,000 ::principal corpora iy Bond at th4 -of ar " the transferee• or transfE:rEE anp bondsa _ delivgvP T - execute and er to -said ofEfcE^ Ekf"the 1ncf f1CC d maturity., Bonds mar be,ezchanged at .- - amount aC bonds„ of other atrthotrnze den©rrtinatr 4� Optional ItieElem Lion " P aggregate.. - ".pnnctpal ` _ -T 3onti a., £ :, O: ai,c: August ,, 1998.are subject to redemption, at the option of the City; i , inverse order their maturities (by date or, in In maturity. mirearxottoif�r„_ by the City o any Bond chE� fErno - ; , j. i to part -the -of „ an. 4 after A.'je ss_ 99 w =ose'bn any ... s w redemption..nces, N ; :. �t and ax4.^,t} ; on an} �p,erest payment liar, at the followingprices, ed Plus. accrued Th' execution a _ � o such d mination and tltt t�� shall constitute full and due authariza cton denomination Bona: No Charge sh2 t t?') �- _. The ca€e .r+i . e�P n a on : �- _c _ "_ -. Price ` by shall tie authorized" to, deliver such thereby once ov Ewe > ec tRestur apy o resistration of transfer or.eXch anger but any B ., f� other'P�E,}�tE:t'itrTt Redemption Period Redemption (percentage of. o� or exchange will be required to palm s ,�ng ptgent halt not- a ti !dates tndasivei - principal amount) P - " . ereto, The Bond ,Res. istrarand respeCt thereto.. i for .t � , a:i� is , ..199" 'to .J u,} 1, 1998. , ................ 1020'o the. mailing of.notice salting-s� Bo n& of etrsp of o� nexe mailing E: a atr, of red `� - Ugul 1: 1998 :e J u3 -"1, a 999.:...... 101010 _ .....:..: 100010 fifteen days preceding cdestraycov Storm Or, WS4,� fag Est 1 1999 and thereafter ="; ... ; , .. _ ....... ,. - ase any Bond shall b ecome rnuttlatef ,Ot"' o ki 11� 1Qc �h r> ffuc - otiet "tif Redempti6n. duplrate replaeement.Bonc„ rt): istlered ownerlof such: B'ond muse surrender any"Mutilatedbore oe destrE>yc'd.o �E:IIt O@` IQSL' �'Qt1f� o.i:L .of the Cal'. for-^.} redemption as described "abcivc idenuf}�ng the Bonds to be red eemed must, } t roof.of, ownership -of anji Cuy or, its, agent p. . conditions the Ciey oe"its agent m� r` - ificd mail at !cast thirty -(30) days �c �.�a h� ma:i;ng a copy of the rea:mp.ion notice b� sc�istered or cnt lzus fi0 days" date to the registered -owner of: each such Bond z comply wi tti:any. reasonable reasonable cicpenses relatE dthereto. not more than sixty prior to °ine rcdcm .thin ' P ' shown on the registration ,o �e Ted a= t11E; ads ess > the- Bond Registrar and'Payins; boo .held b_ " g , i - :. ,agent; provided,hov.ever, that failure to give such notice " .. by "mailing;.or any dcfcctthcrein; shalt f fcc[ nota . t:'1e_vandity,of any proccedint,s .for the redemption -of any Band -for which no sitch.failure or "defect has - - r. u, F merit and for_these cement of. funds ti occurred. All.such Bonds 'called for redemption � are duly: prauidec� will cease to bear interest' on such redemption h date. 1p atitx - ... iad9wsttxs _ ` -: _ --.._ - ,_, _. �anit■ry_ Street and .,` r _ Notice of call, for r ofh Il set forth the date fixed for.redemptiort� -the stir of date. of if any, of a notice of redemption; Emile sire vta9ibn .. ''Iorm : Sewer: sewer- .. _ thghway Total lmprovement Prineipat- ' Bond being publication,; interest by each g of Bond and -Raying Agent, the: redemption puce beep tr ' ar5ii% o�ttl' im meat ds system fonds fonds'.. -ers- Amount ttie name and. address the -Registrar and less than all of .the Bonds then -.outstanding shall be_ called for redemptions. the distincti le in of Bon to= e. 35,E 15 000 1, _ ,.. :.:0_ � . -0- S 50,000 26Q,0p0 letters, including CUSIP numbers,. if any,,of such Bonds to be redeemed and„ the case -_ a mount there ta:be redeemed. If any Bonds is to. _... i0,1900 15fi00 15;000 _ p ppp 70;000 135,000 75,000 145, 000: 285,000 redeemed in part only,_ the portion of the principal be redeemed in part only,: the notice of redemption which reCates to such Bond: shall also state that on or Bonds in a.principat amount equal 20.,000 80,000 ` 160,000 305,000 after the redemption date,:upon surrender of such Bond, anew Bond or d45, �0,000 85,000 170,000. 325,00a,_ to the unredeemed portion of such Bond wiIf be_issucd. . � .� , . 25 000 D;OQQ . . "�� 100�000-; 3$ 3i10,{i00 2 5;000 Ordinance also requires all notices of redemption to besent to all registered securities depositories lit type to the fonds and publication of such notice i�r y �65; i00 ,.: ?5 0�-:, . -,, 105;000 215,000' . 410,OQ0 holding substantial amounts of obligations, similar THE BOND BUYER; but failure of any notice of redemption to comply with such additional requirements a i in. conformance with "" 'b5ry000 30;000 115,000 ..30,000 440,00Q not in any manner affect he effectiveness of a call for redemption otherwise - t t r 75,0(�t9 90,000 30,0OFi 35;�i00 1..5,000 250 000 4$0;000. ' 270,000 . 135,000 520;000 shall an the Ordinance. 1g5, 00 -35,000 145,000 2901000, - 535,000 e Registration and Transfer of Own rship g0,0(10;00()reg 155;000 310,000 595,QOU 1,6i5;000 335 000 640,000 gistrar and Payirig Agent snail- keep on of a transfer. of any. Bond, The Band Re et Registrar and Paying Agent. {5 1t10,O(i0 : 105 000 ;40,0M . 5,000 _ ]-80,000 360,000 690,000 . ooks ke by the Bond Bonds May be transferee only on t he registration _b p . _ and surrender of such Bong at the 11S„ i00 .. 45,000 195 000 390,000 - 745,000 No transfer of any:$gnd shall be permitted except upon presentation Raying Agent with a written instrument or instruments of transfer to form . 120„` 00 50;000 210,fl00 420,000 800 00a office of the Bond Registrar and of signature satisfactory to the Bond Registrar and Paving :gent, duly executed by the T;. - - 450 000 860,000 225;00Q , 245,000. 485,000 930,000 and with guaranty owner of such Bond in person or by his attorney -in -fact or IcgaC.representative,.containing=writtettinstructians number or federal, employer "so ?f " 1 q0 60 000 fi5,000 65.,000 as to the details of. transfer of such. Bond;• along with the riot security and the Bond Registrar and Raying:Agent.m.ay 01 70 70,000 ee. Ttie City, its agents identification number of the transfer s .any Bond as the absolute owner of .such Bond for the purpose of V , 000 _ ?5;000 deem and treat the registered owner -of thereof and the interest thereon.. Upon surrender for registration of transfer _. A '$0;000 80,00Q receiving payment of the,principat corporate trust office the Band Registrar.and Paying Agent- the`City snail � � -- - • = .$5,000 $5;000 of any Bond at the principal - the trans_ feree or transferccs-anew bond or bonds for a like aggregate pnncipaf amount execute and deliver to PnyYng Agent for a tikr Registrar and matu y. Bonds may be exchanged at said office of the Bond and of authorized denominations of the same series and Sam, aggregate principal amount_ of bonds, other b%: 1 i ttg�asL `1,1'998are-subject to .redemption, at the option of the City, iuv}ityl+e an atiy4atc,, nor. in part in the anverse order of their :maturities Eby maturity. _ - by the City of any Bond in the denomination of $5.,OW or any integratin, ;ple thereof The Paying Agent �... , 'intebest payment .date, ;. - .at ,tbe following redemption prices, plus accrued execution shall constitute full and due authorisation of such denorgrnatton and file Bond Remutrar and. be made to any B och wner there shall be authorised to deliver: such Bond No charge shall an y Su registration pransfer .Redemption Price of registration of exchange, .but any Bond owner requesting UI fee or.other governmental charge req red to be paid with ' ' `1es {percentage -or ,: pnndpal amount or exchan ge will 6e fequired to pay any tar, Registrar, required to transfer or e�cchanrie any ...:.. 102�Io respect thereto.Bond retBond e noccaIting such tBond: for redemption has been made, nor during the period . :. . .n1y1998 .... 1999: _ ..... ; • ........ l01070. after' maiiin g mailin . of a notice of redemption of and Sonds of fifteen days nex t receding mailing,of Sri d i t ........,. ....... 100. he City may, in tCS t toted orb d t ved_, stolen -or lost,:the discre.ion . shall- .The or i about to e alab . - Bond that (i} dcliverSe dupBond mem�B a uate p cc nt Bond,. or (ii) pay a t s tt the n for goner lotion and inusmfum any mutilated bond -tlition as slescrihcd_aho v ''f :n ific Bonds to be rcdcecncd must - c adcnti yi g Bond registered owner of such B d must surrender stolen lost Bond post satisfactory indemnsty. City or its agent proof:of,ownership of anti. destroyed � or iescribe and pay the City's or its age its' t icdr eniption nonce by v 0 days Tezisiercd or certil ed mail at least ihirt_ (3 1. comply with.any.reasonable conditions the City or its a�.ert-t may p ►s pt vrtp 1- M ict ition-date to the registered owner, of each such Bond : . b asonable.ezpenses related thcret : iaow,i vi n the x ismation books field by..the _Bond Registrar and Paying re i1'ai"latrc o;gas�e�uc3ii<IOLaccby3 mailing, or any defect thercin, shall not affcci tlr t1ii�_�rodetti lion col ,and, fond fror which no such failure or defect has _ - t Sewer Bonds $2,S_00�000 Sarii ary System _....q...- ": auehaerzed tii;tss Ordinance No 9EM,as supplemented an amen.decl„ . ua r t cost of im eavemenCs anc rose o f a lie P Bonds for the u P Ym S stem Bo .. _ ... a -,- .-< _ . �-• ice-•.:+ { - w . Se er Y R P ewe systems of the City. :,S8,000` OOa principal amount of such bcattds has lied s ewer- ' ,�'.f installment:`of $2,500,000 is being offered hereundee: ...�-may._.. ' __ - - - _ - ', - - .,. + -- - - - - -.rye •e.-. T.,'- i p,000,000 Street and way Imp , vemenF Bonds, 9 129; as attd: amended, authociaedk the Ordinance No. suppCemented. 4 and Highway -Improvement Bonds for th r purpose of paying the cosy a stiteeE ark x. • ,,,t, t :.7 „4 ,,i ti,rtatrof _Florida, in `'the City. $21;100,000 principal amount of suck_bonds has. beets issued�'an� �,. ;.,,;,,+�,. ►>t,� ,i+,c liri�zt�:r1 trj', Ordinance $5,000,000 red hereunder 0 f of such bonds is being offered, _- -adopted ,....,t:j.-t.tt«,t,4,r,.?'.ii,,. UTl<.1CT t}1C prOvlS7oT1S _ ...- „thiir,trit r_ = , }{tlll{i'i }17VC. 1)CCn 3 roved � El�'�t PTION; t !. TAX a i,tit . . - by Ordinance . Knight M rida:, Bond: �attnseL and In the opinion of Holland &Knt ram. ECo c r �' . - Co Counsel under:existiztg Iarvk the Borxds aFe exemp�.lir©�', E ;,,;at : itrwick, were approved - Miami, Florida, -Bond. ., Aiso; in the opinion ofBon�.C�sunsef ancd Ca-Efond� 1 , rt ca(L)ade County _ personal property_taxes- _ ,. -at+.f 11- •. t 4tae tr.e it l,'i1 a- _ into erest on the Bonds is excluded from. gross income for fedet income tad pub _ by the Counsel,and Co -Bond Counsel is conditioned upon compCianc t� ehe e}t v e d coneatn ire i!'�1 cnacted . c b other tax, requirements to comply with ertain arbura�e re ate an -' ' - :,:c clec:ors �n �9arch . 1986 as amended (the "Code"); to the extent necessary'to�preserve the c�ac sta� - ;...,,...,, s of from.gross income for federal income ta�I:purposes If the City faiTs~eo,corrcp�[yt - - t. on the BondscouId_,become includable in the gross of the owners Chef~ purposes retroactive to the. date of Issuance is of of the Band Counsel andoR>ondl- Reference .made to a prop _„ hereto as Appendix B for the cotriPiete. text°thereof: - holders Other potential federal income tax coltsequences' to , o� the Bontci .. Alternative Minimum Toe. Art alternative mintmuin ta��_is imiondb �, I'• ..Al ,_ • at a twenty percent (20%) rate anct.on taxpayers other Chart-corporactoczsk ... K, _ :. , .. ,' :,. ; �- ,� , .•g-le years after December 31;, t986, Inceresi; ©r the: : Btmttr in taxab item of tax preferencrate, I taax. lnt�gc$t' � n, e forpurposes of the alsernae'veminitnutrt _ ter on the Bonds. received by alternative minimum taxable income Interest . _ :.. however, eluded in such Bondholder's, adjusted net. book:. ineonte at 4 s vet, be in curreri[ earnings'. In taxable years -beginning in f98'f 198>?E aria98 aFoQ '7t►,, taxable income will be tncreased.by one-half of.the-corporatiots`s�a�E,�us>ed nee 9 'l.lr' k its minimum ta�eabfeincome for taxabCeyear�be�inrtut included in alternative t al nimum, tastable income` wilt b� increase fit s_ . mt •, ion's a corporal alternative -3..x' .'._.- `., ..ay. *a a-na.k ..:-. 1y ;., i, .a,,=:1•��pt`il- :; tt' ii�'14 al�ii�a:.�i �'. tq —.'.yV .ISM _ _ .. --... . ion's ad not otherwiseincluded iru i alieav justcurrent _ _ the corporal eceived by a corporate Bottdholder vuitf bet ire s a. cot ", f, . , :::u r noTxa4 i� :� t* _' t't': it:Fiill s " ..� +. t . . , . t �8� i earnings for taxable years beginning after Deccrl�be� SIR . - �« '�' .Si''-):,.'IIl� it �T«....I-{l.. "•',t31SI:..e. - _ - Current "_ _. - _ _ _ ..� .,a .- - -_ _ .. _.. - .- - - __ - - - 2, Environmental Supecfund apt.:. Section. �9A of ftt C c eimpose f 31,, _1986,: and before January 1, 1.992,,r a4actionaL talc on ca1tQ q December .- on the excess over $2.00U�000 of a corporation's "modified aleernattvertrttittent , _. - , �t c ttt ; ; i� 'b,, •C13��Z:i {,.'y received orpo edinthe etcrtninastiop{a4 t on the Bonds by a c ra erne u .11b - alternative minimum taxable income.". _ a . • A I a i �i er ..... ----- ry-, :Bonds 2,500 Sewer: System 000 Sanita ended authorized the ss n Ua ce:of St,5,G0ff.00G.--,Saiiitary+ su�plemcntcd and amen Ordinance NO. .9128, as ensi ns tor, the sznitarl' St of improvements, andext 0 ng,powq have a' ng he �jjjf lull _f and_ Scwier� System Bonds or the purpose of P Yi t CO and:arr additionaL aith -credit f 1� bonds has been; issue Vic I, taxable Property, 60,000'�'rincipal amount -of suc tiffs mid 45 al � - ins of t P - ty tbr'* �oevied on., sewer S Ste the'Ci Y-58,0 y em as covenanted in hereunder id v�10i d hercun abelrm Urni h 600 is being offered iaw).-7-he CitY' installment of $2,500, b, pji�able e is vtqulttd L'es,,and will enfotc and collect --x;nis ve W revenues pair or adversely way Im , provement Honds, 11 im 35,000,000 Street and High tnt6tftiis n that Waunotukeanyictio edge 000,000, Street fin-1hatIt . Ct in any, mariner the PI amended, authorized: the issuance of $30 '4diversely-Affe ge' plented andMld %a)=,0r imprr OceomenLBo ds-for the purpose of paying the cost of street and highway imProvemetttS and Highway Improntl�tnds has been issue and an additional, installment c State of Florida. principal amount of such bo 000 in the City. $71,100 and other-lawS Of the r hereunder, -- -be CA—)USUtution - I . . .1 t I rnited t Ordinance such bonds is being offered dvrsuing blit no i 0 of S 5,006,000 of .such clud ado . pied !%0jUU-j)nj*T the City, in Lttollition No ted- by .7- 1991, -is tuPPICIhen cd - ndcr the provisions bn authonz 'u AX EFFECTS ave been .7be Uonds:h EMMON, INCONTE T -nc,Bonas have been appeOomtnission roved TAX E. the CityMcGhm R-A— P'- n Cnight_lvl Bond Counsel, and Vincent iami, Florida yh ZC oun cl under misting law, dinancc In the opinion of Holland & K cscnt, Florida intangible - di were -author' d by Or 0 the Bonds are memPE from Pr q-B Bond C s 4iami, Flotida,'C ties Bon Vied d Co-Bond-Counset, under existing taw, t ?nw;ntionF36-lil cl an, d.taind,2,nd aincridcd, were aPPro. property taxes. Also, in the.op nion of Bond Couns of Bond tv e 1984, AS supplemelitt! uit of Dade Coun personal Prop c for: fcdcratincometaXpurposes.Th opinion Cw 4Z MINI - the Circuit CO n er t on the Bonds is excluded, from gross income r t CS thtCity with covenarim intheOrdinance .ere %-Aidated bY j u49 nc compliance by Counsel and Co Bond Counsel is conditioned upp om ev Coun contained irt the Internal- R enue Code uirements; con ith certain arbitrage re bate and other tax rcq -Ufat uk-tn 9781 enacted by the to comply-w exclusion of interest on. the Bonds. �rdillancc.No. Code), to the extent necessary to Preserve the amended (the otized byMarch of 1986, as amen covenants interest with ov Bonds. *Xlc 2uth vcd by the cicctOrs on come tax purposes. If the City fails to Comply th-suchc iiinted and amended' vlerlcPPTO July 11 1984. from gross income for federal in craF income r County on S thereof for fed ourtof Dade iCoun ludable in the gross income of the owner ag *e Circuit on -Bonds could become inc by judo the date of issuance. purposes retroactive to the purp nion- attached, A he CitF Co-Bond.Couriscl opinion- ance NO. 9128 enacted by-, proposcd.form of the Bond Counsel and by Ordin 1980 Reference is made to a ,were b 7, _f - . I I iSv== ondt, on Octo Cr - text thcreo hercto as A ed by the electors . I ppcndix B for the complete wid vneuded, were approv. 11 1982. No appeal 'jCltiolthearcuitcour - t of Dade -County ion January Bonds include the following, ncomc tax consequences to. holders of the Other-potcntial.fcderal i imposed e Code, on corporations Is by th ed, alternative minimum tax 1. Alternative Tax. An alECrn pert _9- enact by Ordinance NO.''912 rnatNe I Minimum -One- pe ent d- th rate and on taxpayers other than. corporation!; at a. twenty c ent Bon S Were or'zed the electors 0 October linprovtm n Bonds will not bc treated as an WILY approved V at a twenty ocr ent (2017 w cn rate in taxable Years beginning after December supplCmenited andarn dedq were a I 1 19 82. rining aft b 31, 1986. Interest on the . an, individualBondholdcr-'s, 199012S rt f Dade Countyon January - he altama uni tax. Interest in 0 u ses of t tive minim by eU_toVtb-c 'Cir6fit COU it of tax preference for purposes Corporate Bondholder will'. judgern cm taxable income. . interest on th Bonds . received by a, alternative minimum taxa, 1' come and in such BoIndholder's adjusted s adjusted nct book in n u ons' altern-ative minimum. however, be ncluded i such Bondholder I 98S and 198q,. a.. corporations' earnings In taxable years beginning in 1987, OM6 not 0 current earni thenvise net book 'on Foeililies -Bonds rcased by� one of the. corporation's adjusted inc tmd 01me, prevenf.j e will be inc n ftcr- December 31, 1989, taxable income axable years beginni g a 00-policc ble income. For, t Df $20,000,0 xa authorized -ffie issuance included in, its, alternative mini -mum ta. ei severity five percent (7 5L70 of SopleMented and amended, 0 tof construction taxable income will _b increased, by s.. a corporation's alternative -minitnun1taxab income. Jor -the purpose of paying the C n's all . ati e minimum wise includ le, nic cd in its alternative jF,acilitics Bonds of as not other ,the -6tion and installation. 0 . ,electronic the corporation's adjusted current carni I n eluded in such Bondholder's adjuszcd. 14eadqutfters building, - e �gcqul n the Bonds received by a corporate Bondholder will be T Police -unitand other Police Purposes for ITainin crty Interest 0 Uipm and fac, ities r _g, prop . . . - ount of such bonds years beginning after -December 31, 198 ent. S17,1000,0W principatain current earnings for, taxable -r- land and other equiPIn offered hereundcr.l imposes for taxable years beginning afte p ch bonds is being Section 59A o f1he Cod t a, rate of percent - insWiment �or S1,500,9000 �ofsu 2. Environmental SuPerflind-Tax. 1992, an additional tax on corporations a December 1, 1986, and before January I bt Interest 3 modified alternative minimum taxable N) of,a corporation s v -$2 000,0 onthccxcesso,cr IM,t"vernenl Bonds, included a ndholder's 'modified Storm porat on will be inclu in the dctcrmin tion of such BO 0 ccivc of S-10,000, on the-B nds re d by a cor c issuance thorijed the me. andianicndedfau taxable income.' e purnpina nirriu - c - alternative n1i I m. the cost -of cons". ction of storm sew rs, the a tot Itit'PUTPOSC Q Paying 61 drainage facilities, S wtill , other types Of 10 "V�A6fenclosimv-stTcaM S 000,0 0 land: d1beacquisition'of any-ncccssary an bt cila orfcrcd' gittm lidewalkt, 111 (),ow is b n P_ -Issued and an additional installment 0 00 as been 5 .4 11 00h 3 . a. t - _ Propert• and Casu ally Iiasur-ante _('bmpanies- Section _65 of;the Code . AUDITORS -. "' �..I inancial._Institutions-and . ember I ; 1986 , -a f.inati ial institution holding Bonds will L - ,ices iitat, f�: taxable xear5 evict to at.es Dec Under Section .$3_ h S (B) of - i allocable to such. Bonds. �(,)() atements: of the City see forth to thys. Q facial SCatemettt hazv�:tj The financial statements, ' foe eh ! iseal ear endedSeQ _ . fc�r sts tterest .expense c uc n }e., .anv deda Ilion n years beetnntn after - - , �a�able Lampantes utl, be r gutted for Iic accountants, t certified u b .. en F Lybzand._ P a . �. in de end t� diced an�x � �hi9 an arc ie c.:lsr erty° and casual t :nsuranc. „ r cs h . 1S°10 of the amount t }C,` GE: UCi'ble Ui1C..r4trlttn� ,a5$ j. in their report to the_ City,Commtsstan Secttcan of a eo Freh ty -,, r _E..' : is ' Tr'ii�� = #J.; t{� aC tI ni 3 iia t C� �. , of cs= u;�ust 1986,-including investments in the Statement. Seer Appendix =A, Financial to ,.; ; ,n.rs„r,cnt= z,adti rest rcc�i�c , .roa,� �. TEMENTS"): ("FINANCIAL STA . . oeaal lea oral and luilroad Retirement Benefits. . i n err Setion $6 of the Code, recipients of _ PEI 'R® >��N - adsetiretnent benefits may,berequired to includc�a portion of so,.a:ecur.tL b,ncf>tfi and rai,.a APPRQVAI.0E-LE . _ i :its tis,th.tt �ros� :n,t�mc t�� reason '?i rccetr,t of interest an the Bonds incident to the authorization and tssuattee olf the goner s . , _ z cor oration 'havin :. _( t:,rpnrataans, `�c:.cfn : ,,t theCoot. imposes a as on t>te income of an S p g . Certain legal matters Oo- , Holland Knight, Bond. Counsel; and Vincent P> Nr r.Ghee,: f'". Bone 4 of H o the dew, 3 _, ,-�:er i arnirtcs and profs a> .3 r �..,�+f a ta,sble tear, if ereater than twenty-five_ percent (25010) . . em; at the tune os will be available to the underwriters, at na,c t to th { r es e t sacr corparatrr. n .s assize :n%est. r�cnt income. Interest on the"Bonds Kilt -be included - be printed on the Bonds n - e ;;,, :?z�rat,or,'_ pass.t, :nti stment :ncc,r�,e, } csein Crrrpt,ratican Branch Office. Tax. For taxable vcar.5 beginning after December 31; 1986, CY 4Si1N �)iit'1f�FI�A -,?—L, ,n SS-' of :he C-o& xt}ascs a bran::.`t profits tax on foreign corporations equal to 30 percent.of the ^,, aivaic it antt�unt" for he taxahie year: Interest on: the,Bonds would be taken into account. with delivery of the Bands;. the Ciey 1tr13anag eandthlae ry t i amount' to the exicnt.such interest is effectively I s Ti l: v a ii?r ;�Si il,rt� ii1Ci_,'S ++1 CCnu.cytU i'CIl ' a.trade-or business Concurrentt y-the to the effect that, to, the best of their knowledge« ehis Qt� cia ' �. ^fl-z A' , rate Y{ r:lc t:;e;� ;��nne:.c�, its; :hc fore e.� cor oration's conduct of �t,,_...ed .t, E ,.e p y their certificate h ,� did not acid does not cote and date of the delivery -of the Bonds �;._ u hj i -he Uni, -4 stag as of the fact necessary to make the staeerrc tt - t r n a -< tax conse uen.ces to: articular' ,:.»;s}t+ns c} the Cdc�rrtati �.e�rtse ,o adverse Jed inamc q P a material fact or omit to state a material v r which. they:were made, not_mtsleadirb light of the circumstances un e - .. zf ndnc�idem 'C?�;ne:s of :vie Bonds shaal..ansus::he r:tax advisors with respect to the tax consequences. _ _ li Corm ng Bands. CREDIT RATINGS The Bonds have recei-s;ed the credit ratings of from;'Standard d: Poor.'s Corporation and _. fro;n Moody s.Invest©rs Service, Inc. Certain information and materials not included in this Official -i I; >_a,-nit-n,-werr furnished to =he rating agencies: Generally„ ratin �cnctes base.thetr ratings.on the „rt o ,ataon avid materials so furnished and an ins;sti,ations, studies and assumptions by the racing agencies �;acn .: edit.;a,tncs ,effect on,� the ��teu°s of s - each credit rating, agencics,-and an explanation of.the significance 34 such credit ratangs,.ma� be obtained from the rating agencies furnishing the same. There „is no. _.. _ n r� ;,ssurance that sucbcreditrat�ngs -will. continue far and given eraod of time o.rthat thev will not be revised. -, ` P ;Dr withdrawn entirely -by-eittacr or both of such credit rating agencies, if in their _respective judgments, `ircurnstances so'K�arrant'. re+�sien car �4ithdmwai of anv such, credit rating .may have an adverse effect ,n Lire market price of the Bonds. ` -.. LITIdAT.IO ti y _ f'cading 1:ticauon mvol,6ne claims against the City is discussed to "the Citp Attomev's letter attached �t e,.o as A, endtx _i._�+'hi� t t PP l will be updated by the City Attorney in a Iecter to be submitted as a closing aocutncm. There is not noH n cndin and .tt:gation restraininds or enjoining the issuance or delivery of the Bonds ter the levy -or collection of taxes to PaN the principal of or the interest on the Bonds,' or questioning the proceedings or authorization under wh M the Bands are to be issued, or affecting -the validity of the -Bonds. „-. . 6 � � l -_ _ .I � 4 ` , . - - � . I�� I � -�- .�- _I. �. "=V�I II� 1;V�n-.�;:7 -_�I- -M .*!sI, �' —.I�III .i-1:,-S��.. -, II:-. :-I -:�. �� -:. ,� , . ,�:, 1 , - � , , � . . . , :, - , I , o, - - .. - � .1;. ,- ,�,. _ - � , - .. . � � . . . I- . � � - I � ;..r .�. -- I,.I � I . I � ,-� ,L 1 �_-�.�, ;.� �. ,! '�-i� �I,-�-- I,�.�: .-1 ,�,I� .-,-� I, ,I�� -._��.I.I1,,,-I ,-Z-:I,- -.1 1�� �� '--I I- II,,,,- �, 1r-ZI�B- ,�. �.' -1I .1�-'1- �I_� I�-�I ��-I, ,�:- ��.I� I�- � -. - I- .I�,-Z�I . I I - - -- - - I . I� - �.I ." .-;_ ��� .�-. 1-I�!�� _I�� z. III - - .. -. - � .* - ", - . -. - � . . - I�.�-I. �n�-�-- I- II _,_,,-II.-I-� i _ __ - - ,�.� - � ,., . - c I t`� 01'_ N� 1 A;�1 I - I�. I�. . -I-�� �.,I-:-�-�1 �_...- -,I -Z_ - Mayorand Ctty. C :; =°. -�� I . - .. l ,1 - . - : - . t- .t t t i' _ . 11j `,.tEit lit . - - �. I-�.�-� -�. - - - a two e4r terM - I t or ttt Novem ber, .198, for _ Y eceed May- � . -" .. - .. _ r azez-was a X L Su a Masters Degree in 1? - I;.:1 .1I-� . ..I I .�-��, , . _', � I�� � - -� -- .,- �I-- ��- �, �.I.-4 �- �.-�� �-:�� I,'-- '.Cum LaudeS aduate of vernment and at lurts l�octarate" i I i I " yi cI share of Biscaunechaencom ,��- :�-- ., _. '. �� ,I��.I , d c ool of Ga v of Harvard.E3LLLvers F. Kenney h I tteTt 8* �I. �I I .., ..., ... , z: �t �::,: ;:�,rr ��;, L1 ti�cstcrn . ..,, , asses , . . ��.zae t o nth' ithc Ceiunt� 1 P ! �- ,---�. .�I� ,.�� �-., -�I- ��-�I -��_—d ` He is currently a partner in the:Miamt.law firm of --, , za .Mute: . - - of years rhrouglt gartiGtpI i _;, ....;; . �i; ;e.-,�f ;t.L",: - ;,. , ., and 19.5 , �{ , - ; t.3 :gaarcmiies of land _ I�I-� _ actively served the Miami community: for a number - - -,, 4 ; .' .1 ;-1;cs ' � - � - ; - -. '-�� ,1I -, i:_ 1�-1�., �_I C.- 1—. ,I,--,., ,�,1 is oards and. committees- I�. .. _ - ,, . ,,. .... _ -�' - II �1 1.I �-�.I .. -,�: - ti - __ 1t3 to OEQ_. Mayor, was appointed a eORiIttiss Her .. . , t� -' P c n _ f .. . -.-. „ ' S a s a �ri etc* o , - .- - -. . -,* �I� .< ei%1i 11_ Lf7ii S.. ii�Atl. 'I,- II �-,1. r L er Jr., Vice - J. Plumm , I98 Eo faLt r. irk i9ZSa.t979- "�,, 1 f_. e•' -'•� ..Si 4iy ... - . �" , . - ', ". • ' : ;; ;; ;� :,e Bana ri>an .siand of B�mtnl; -: , : •' �.I - - - ,.. _, ...., ;, . II �.Ii I-I_-I t, - mmissioner m November, 19Z'1.:, and re-etectec# , Co 198C far a one year tern:. , Commission in htavember, - ,. �1, ., - �� .� ',,' " -:IzLI -�1 N.-- -'-� '�-�,1_��� �' -"_� �, �1-" ,_,,�,- II� - Vice Mayor by the Cit y Senior High School and the Cincinnati College of Mor ���:��--1.I :i - � I • ,s '. ' - • ' - ' _ I ._-- _ � II ` . 1". I- a graduate.of Miami --- lu FTa mes; Miami,. Florida, - Ahern P mmer Funeral I.I.I��.I..LI - , �- I. �.I. �.� of the Boazd.of _ - - .I-- �I-I--I-�I - - I - - � - , ;: c:-0rl Liliuelc--i ���� ..7 - er In No em JoeCarollo'wasetect Commission v ber, 19Z and re elected it ed p. �{ p�iss �4t Roai azi . ��, c - - - _ '_ . .. � -a:T�re is '°.F.., � Z �_- - ,. -Z �-� .. - �.7`P Commissioner Cazollo is a graduate of Ntiami Dade.CotittnunLtyoEl in ince rnationaelaeions aLt ;� - s _r�� Ii� I I - - - Za, �,a;; cCixkie5,TfCS: �- - I . - '.I t y ,I�"1_.' �I. .I-: .�C-, �'� He holds a Baccalaureate of Arts degree _ enc Pres dene of -Genesis Securit�t �ervL Servicesf€- curr Ey L �I � - . ' - ;,. . . �'. ��v.�z• ��.- ,-, �L, 7i,"ne mcnes. �,. - �I -� � ,. I;r.��-.!I�I�I�1� I --�� ,,-. _.�- ,;1.- I����I, is riminal Justice: He is C' In -.- - and . I � ti ", - . .,. - - y ' t , " • � .--- �II.- 1- - - - - - rc.etee was. erected C om missioner in November., 1991` - - I-, Il J D s MI er -. awkm ... of Florida Memonat coumc anal - . - ----I I* .NI3, ., �, 3 aduate ern, �ala�ad� CammI UnivDers ty1of LNorth starter I awktns hi -I- � - y e � . l ` "- _ . ,� 3 _ F �. � - = - " ., .,- � degree f om the Colt t _ 16 at Miami Dade_C ommuniey e- I��,mII �-�-�i ,-� Z-,_ � � . �. __ -� ', • i . ,� = �`autl . _ r . , _ - 4 '` �` ` -, �,,. ,-. _�, years - E ommissioner in November 190 L�or was a ecte dC I- I�* .�I-� �o.I� �-,.,�- -I ��- I 1 �• I -�, � � , , � �. I , �� - - ` - - C- '..--- . I_.. �.i:_11 ,I'" III -�,,- ;: �, I� 1, :- 1Il,_ -I�-I��, ,-7I�'-.I Rosazio' A. Kennedy - . ` ever elected to the City Commusiote. Comtrtisstottee: . �III �I�-I V 1 II, � .��.. -;� �f� � d � - _\A-� ,r. ti`- 4r �..: I. �I -- the first 1-Iispanic.woman - -and tkavesemetct- . . -r MiamL real estate developmen II � r. _ - � ,r � - _ Z, N a..., 5 gI � :. " 1�1' I�-_. -� �,I_�- -_,, k Inc a o erremar •,_ f Ss* ds, eaders numerous busine vic. and community boar I.� _ . ,_ _ _ . �, . - ,, -__., I _:� s�. _-I served on the Miami area. - 7. �_'�,-� --� ,�,i_ 4,���.I� "�I" _ . - - 7 �_a - Zi - II _ ' ''" ..� :� ,.n,:1 ,-, II -�� ..� II�I;, �I, I�:.-I- ---I- . _,.. _ , L�--�I 1-�I j � - 1 : � �- . I - - .-�:.1 �- ��,. .= �-�i ��� Lion" of,the City � - . - . - , -. -. �I., rldministra Cesar H. O diwas appointed City Managed effecti�e,l7ecett ber tr �o�� ,,�I":1�.� I.�I.-. ��� � ,-.I I� ,�., 1;"s�� �����-- �1--,_ 77- �- I� - _ _!� _ - -, - ,, Z .II N�," ; = . -, �' to the tog administrative position in the Cic .. Mr- Qd'ia served as Ass esz aver the 6uttctions a�f parr an-4 � t - - : - , w ., _ 1; =` =s - Y'. .' " - . . ' `sa . is res onsibilides e+eiended January 1980. H H. t 1198 khCWA$ Nlariet Boaatift. n �-, ��.- : .� -,,I-, � :, -:-. .__ - _ ., ?` =''"" an'?= �-. I - , >-„ : ,. _ - -r _��I � ��� ' ` 'n` C. ��:� i._ .,� L� d public facitities� During the maintenance, an Bachetoraf$ca encmdegrl* Refugee Affairs Odio�has ,II,, � ,�,� - .1,, "4 Y. -ZZ= , ,' � - 1_' � } ,� i a=:�::i: � Task Forc6 on -Mr.. - , Miami Florida atzcl LtL�o red. im Rusinem A I _-.�� Iy L,- I� L-� �I �:-- -: n .. - . -. - �.-. ,-�� ., , -, ;. -- - , ,•. • L .5 <. - - - , .-z4 a Mmasod-vill'anueva, Havana Cuba Santo To -I��, : :�-_ —_* -- - - � __, -1-C �.� � � 77 LI� _ � I ` : , -. ' .' , ,: ' > ` - - ` _> - dt e Y E Gar irector of Finance since Tune t981kk� JaLn he Le ini Carlos cia;, D 1�II', _I-�I. �:1L. -I.� ,I.��'.-L - I_. . � u ; -... . ,- - - , - " �.�� 11 t as, been. previously employed in private tndi tt P He h ` I- � I . ^ - �.� l-�-I Finance Director. Laude of the F lnves>y M �-� I4IIL� � I � I - -, ` _ .xec:io�.s . _.,, I..... '�- . -. .=.' : -., . ,- -1,� " .and -Audit or' Mr Gazcia is a.Cum graduate frottr'1 loridas >lnte€tiattatti .. . --- �- .- I. .�- ., �-I.� 'I �..- -- ,,.��, �-�. .,, ��II _ I �,; -.. __ x - �.: - _.^<e ..4. - . � s- , . 4 _ - ". � ,..:-:. '- holds a M aster of Science. degree in Managetttenc . of the American andt FI© :., J _'��� I-�- ,I � ;I I.I. �I� _ _ . --:- . , . .. .> . ; ,., . � v ' ,, -,s- ve-_- , I I .�-- - - - I, ate of Florida and is a member - - . at rite United Statt� a?- - �I ��I�I1-. L , - . - ~M: _ `= � 1- _ = _. _.ry ,- - , the Government .Finance officers' Assoeiatiatt �-� _.���-�. -k 1. ,I��. �_ ...I�- I _ v... is City Attorne�r far the Cif o� Mom- From �, .: II��-�- �. I.,.. I. -.� �k �� � ,�I � , - -��� I. - � - � - � =-"1= Lucia A. Dougherty the _ Miami Beach, Florida. She received hey R•- Ee°, I� ,,. ,-S -I, ,�� IZ- _�_I- -: _. . � , � :��. *� - 1 - - � - ,.. „_ . the Cuy of CtCnitQtn - University.otoklahoma,. a f:D_ deg€ee got �i ;, -, - ' Y -... ' .. „ ,. , .: �.:,:-f:r, :-a:I fr m the o -ean ',Law froth the Univers ty off' Ntamzi Sh _ - -r--�_ :. _ _ ,•,�- -, z_... ors_ x Degree. in Ocand Coastal adjunct processor. of Ian a . - :. ,....•.;: " , :• - - ,' y; ; r � ai:t oma Bars and has served as a fectueer ancf conferences and seminaes, . 0 - „, - rued as a lecturer` at numerous - - . .. - . .- - - :: - - - . . -_ .: - - ---_ - - - - - _ - _ -- " . - - -. _- s. - S _ - - -- - - - -. - - - .- - ... ., - -. i - -v; .. _ _ _ _ _ _ _ - ... _.. - - .. , -. i - - ---..,-M. - .. .- -- .- - --_ _ ,' gig. ti - ^-max. _ - .. - F j ir t- E - I _ ._ _ Ail for a two ear term. Mayor Soarer is a Sunirita " - .'� L ber, I9 from- t Ma��or end City- ommtsstoner �(111N. - - May to Novcm $5 Y Degree in Pubic policy he John Xavier Suarez was elected. Cum La f Go ernmenrof Harvard Un veorstdty attd a.iuris Doc oC ode graduala Masters torate €rortt. Harvard Law Sciaa ore _ot Biscayne Bay, is a=main F Kennedy. School o -n thewicrn 5h encompasses. He is currently a partner in.the Miami law firm of Proenia, White,:"Huck 8c Suarez. Mayor Suarez has oath cstiae Njiatti Mover .;" which _adeuntythe. iaunty_ and and I9.5 t►zttsi�'trat ctz�a}�olatan f 1 actively served the Miami community for a number of Years "through participation an tumerous advisory re^aan, 3heat,ity comprises 34.3 square miles a . mouth - mme J ce i terms-- as leered c at es boards"an om mr'te r„ Vi 4layor,- was appoin J.L. PIu led a CommissianerFrt October,- Ig7a and was elected Les and the "cente. of d in 1975,".1979 and I983 far four-year to Lle:w e in .b¢ continental iJnitcd Sta _ tvT� and sip" is i3alaamianisland of Bimini,. omritissioner, in November I97I. and re-etccte t xtaaJ n territory .. - Vic ne . ` foreign Novmber I986 for. a one-year term Se tssioner. Plumme� is and the C r Sch ae nearest e Mayor by the City Commission in , e. He is Chair -non 4 rt . the caast.fo�da. , t , a grad Board of Ahernf Miami nPlummer Funeral Homes, Miami, FIorida.of Mortuary ky`ior High 0 of the f n November. 1979 and re-elected in I9$3 far.a four-year,terrti. _ Joe Carollo"was elected. Commissioner i cl ate is strongly influenced of ivtiami Dade Cainmuitity.College and Florida International University: llot Science e im nc lama s :Commissioner Caro s a graduate it3ussdatY bl'theiiopical a~one, veraee Yearly temperature is'75.5°F. 'per - He holds a Baccalaureate of Arts degree in hiternational Relations and a Baccalaureate of Ssie degree and tht r of al imatic factors. its a e b9 j'F Pjinfall comes most u Ine etta eratures average - in Criminal Justice. He is currently President of Genesis "Sec city Services, 1: .F` d inner . p . nine inches tember, wiala dune the heaviest, averaging Df ,,,Nl and` -September, Miller J. Dawkins was elected Commissioner in November, T98i and re elected in 19$5 for a four year a � r Science m 1 �tovedfforjover "-" term: C.om iss over Dawkins is a -graduate of Florida Memorial College and holds 4l r �s c e nl f "1980. The. degree. f om the University of northern Colorado. Comm' stoner Dawk ns has been mp - Il - - _ ,- :- - - u'lation `poi the Cityat 3i#fi,865 :as of Ap 16 years- at Miami Dade Community Ca cge e tap ulatien - wittlatied gobe S71,97S by a iatc of Fonda Division of Pop inmissioner Kennedy is a Vice President " Rosario A. Kennedy was elected Corrtmissianer""in �vovember, 1485 foc'a four year term, becamin= 1 University -of Florida - v • omit RtsciTO, , " the hospitable and the first Hispanic ,woman a er elected to the City Commission Co I:-- - - - -die F.- - - --of Terremark,Inc.,_a Miami rcalcstate development- and'_ investment firm• Commissioner_ Kennedy has - on. for red From s e r ` alicaritly fo the locaj economy as.recipiens os �r n . _ served on numerous business, c'vie an' capacities " in d community boards, in. I adc s hip and triembership ulation contributes g _ ro riate.support se. » eiastons, and �investznent income App p. the Miami area st ialseeu- — ` p ces: rovadcs only liinated".p cd scrn_ _ 'Jae lolly' of the City itd iunta.to hisappointment ccaaliz r i ember I-�;. t985. Frio_ y Manager, effecti Dec - weer for the City since jy riled iCrie-C an Mr. Odio served as Assistant City hl Administration vernmcnt since 19..1. The C . "Cesar H`, Odio was appal to the cop administrative position Y - vc nde+ ;the COmtntssaora- ty��anager fo[at3 of $o. it one of whom_servo as to the Presidciti`s - aed voters an he City, January I980. His responsibilities extended ave'VlarietuBoatt ft ons �n parks1980was- aPpointed- , and ion, building and idenL'e zee betcd carats, �►to ,are Iqualtf riot overning body of the ity,,,im"Powers to enact ordinances, adopt _ maintenance, and publac facilities. " unng t e g cell Manager. The City Clerk ant G� Task Force on Refugee Affairs. Mr. ".Odio has a Bachelor of Science degree in Public. Admtztistrattan fr€�ctt� str i . - t the University of aiefadminist ativ�elofficer known the-�oraing Board, the City of Miami Health - - Florida Memorial College,. I✓S taint Florida and majored in Business Admtnt orlon .ohe laniaing ,dvisor3'"if3oard, are ;also ."appointed" by: t, e Citti s i Santo .Tama de Villanueva " Havana, Cuba ition Authority . , iz thet.po-modcfiab Downtown Development Authority° a=e i l i tteet Parking hoard and the D _ � Carlos E. Garcia, Director of Finance since June 1980, joined the. Gity in ;�;avember, 1976 as ass slat _. , aards.,arad Tatified by Gary. Commission . _ Finance Director. He has been previously er[tptoyed in` private industry in positions of Treas�urcr, ontr t ami wit ba sis. At each of t}tese et....t,.oa;4 and also te of the: 13ti I rn,efnber revery t�va years <bn a non p artisan. and,Auditor. Mr.,Garcia is a Cum Laude � nc from Florida ilnternacionatiUriiversiit� Heist�icense-- as q,f�. ,..Candidates for Mayor"must"run as .such ,and -not for the � ::� o P. holds" a Master of Science degree in Manage tt= iO�.�wP�•- .- - - - - .. - - - - - - - - - ad -CityGommissian -are elected for -fain t ca; a CPA in the Staof the, A te of Florida and is, a m�ri? on of the. Uri d� Statesa andrCanln allures f C �.'s and o v✓a members of itae , .. " the Government Finance officers'Associae t rcla elerxton t _ we so that there are always at least two expel ten c'w4 " v for the Cittit of titiami; lorida, and the former City Attor*ic�' assiouers terms - _ ccived her B.:_ Delree,Crom Syracuse University. a ILL`S. vcrnm Lucia A Dougherty is the City . ttarne inistrativeZL laeae :of the municipal go ent, charger with for the City of. Miami Beach, Florida. She re ';fives as .the adm _; at rain the University of Oklahoma, a J J. D. degree- fro Oklahoma City University and a L Lan - ial o rations antl'organizing and directing the adminis� _ _ m i,,.�:... Coastal Law _fro the University of Miami She i5 a member of the Florida and ae:ityys i"tnana pc o U . . retains. sill authority m thc,aPpointmcntand super`7sian of dcpa _ D d Degree ^r in Ocean - and law at `� 4a " niversity".and has " tsci" =Oklahoma"Bars and has served as a lecturer an adjunct professor of �eJ�ity's-Intl"budgetandinitiation.t�t;nv�tigativeproccdures 1n actd��it,. r r n r s , served a a lecturer "at nurnc ous conferences and seminars., " " .;a ropriate action an :all admitiistratavc matters.- census- 9 , Jill I III I IIII I - le. tan t_Cat Clerk .� �} Zr�irt.cd c,iv Clerk on Sep.embe. _ 1, .1985.'She s+as.tltc.Ctt} s Assistant Y � I}EB'llr SL'I):�T1NIt�tll$Y n _ - - - M1. Hirai as:aE - P S Natty from Se !ember, 19',6:to,�ugust; 198s. She is a g.raduatc of Edison High school and has completed college , r P r this heading_ is, stEbject in all respects to thcenioee°c . . courses .at Pasa ciena Cit�'Col�ege; :Uni�'cr5tt} of Calttornta at,Los Angeles, and Hunter Colle e, New York. '[heinformanon uncle a r iracuse tnivcrsit>' and obtained the three-year Certified Municipal contained in the audited financial statements of the Ctty� See �pl?ettdL� Slte Attended spccaa.ized cou�ses.at 5. ,* _ 0 Cerufi cate cxt nded -by that Lnivcrsity.. �9s, Hirai. is a member. of the. International lnstifute of Comprehensive Annual fiinancial. Report (Financial Statements -'' N111Unicipal Clerla. 5! Payment of Bonds and Bond Election Requirement scope of services and _.Agenc4 1• un s . ., iiarter: Those services include public safety . The Florida Constitution does: not provide_as limit on the amount of} act v The City provides cenain services as aut;tony.c3."t } �,s C aintcnancc lannitt r ilities, trash and garbage collection, street m , p -_ S levy for the;paymentof voted bonds. HoweveF„ pursuant ta?i�retclefl.,ectioc>t (rcatice and lire), parks and . eL. cattanal facilities, - „ , , c vital im rovemetits, -and building code, inspection and r the City.is limited to a maximum tax levy, of Ifs mills pee Y•OQ SIQ� per: •® _ and development functions" con t, ac n of a, P ur ores. otherth "r rn rtc tt serw;ccs. real property and tangible personal property for muntctpaC p p ent rce services, has a uniformed farmed forte of 1,060 and bonds. Ad valorem taxes levied for periods not exeeedtng twa yearsaztc au�tftos - The Pc�i? Tact ar.rrtfnt firi�.ict a .tu,, rangy: of ;�o:ic- are excluded from such 10 "cnitE limitation Fui -ti nc, permanent c:rilian campa iEn; of 4"a` The Fire Department is ratedasClass T, and provides: „ - } fire n , ` r ether eats "services. Article VII, Section 12 of the Florida Constitution reg2xires,ehe apProvaf otf e I �,: range of .#:r. 'protec.ton, . escae and . g �' nlorces sanitarian .requirements. Disposal of trash of.bonds payable from ad valorem taxes and mat The -C y provides garbage and trash pickup and e __ > under coniract wiith the City. The Department of Public Works in Article VII, Section 12. which limits such vote to electors ho.aecownees o an : arbage "is t erformeti: b1 .he Coun } una _ . -from taxation has been held by the courts to, be, void Aeeordinglyx al.t ql a, maintains certain succEsand siaruall:s an itiana«cs :onstrtiction o ,scy4crs and capital facilities required ��^onsihlc i ar maintaining most: arterial streets and : eligible to vote in bond elections The oaf the relevant sectiotf Citeliol City. Tits St.a of Florida and ltc Count, arc? . _, - a Ue�rart r etit of l�ar:t s; Recreation and Public Facilities maintains for ad valorem taxation has been held valid and..rema%ns ope>?aetve: all major highww•ays Within tie Cy. Thet _ d p d_ d d ti and operates al, parks n lit, own arn� an a� mtnisttrs w a:=ous recreational and cultural programs associated j with these facilities. - o neraf ob.ti anon debt of the Legal 'D y C its ae g City eo FS% of` ehi Debt Limitat�oa % �ernment "der City Charter Tim 1 The r . Regional moo. w ices - k, real and personal propeny,v. within the City limits as shown by the Cast ggeeedtngE t oncernini the County desGrihcs the regional government services f and prqV ovides that bonds'_for street, sewer„.sidewalk and: other public it>RBov The fol lowing :nforma ion,and tiara c ,he County prow.des for restdents .of �Ite County,-inr,uding rc*siden:s :of the: Cit °. s ecial assessments shalt not be subject. ta' such limitation a atnotr nQ be t y , the amount of genera! obligation .bonds that may 'beissued. . iheounr} is in e'Ifcct, a niunk ipalu wi:.h + awtrttmenta, ;�awers _ffcct.w.e upon the _7 cities In, acid The debt limitation for general obligation bonds as of Septetttb - 30*119861 -m— unmc=porated area of, the County. The County does not displace or repiacr the cities but supplements' _ g :nl^mr The County car,, _,keaver a tcu:ar.alluvitics of a c:ty's'00 rations (l) if the services fall below- � on the net assessed..valuationof59,231.�1�,�Oh Outstanding genei=aEobtigaezot�;S� p n�iinimum standards set by the Board t�F c�unz• Cc� rt n;,4irinl s of .he Cau.ity (the "county Commission"),' debt limitation as of June 30,. 1957- totaled S19G 105,Qt}Q1. which is tell ter €r) ww'iih the:consent of 'inc' goi'crnln£ body o the ;1;V- valuation. - - . �sponsibility'-for a number functions, Srnce its Inception, t9rtc County° government 7as assumed rt. Selected Debt Data ; tnc,udinr Counts -wide police services watch comt�,e.me .!hunt,. 4I petite sc vices Aithin the muructpaltUes, � �� 3lancl ittte - p �ti°itls direct.access "to the atianal Crime Iniarmaiton Ccnicr in �'ashineton, D:C. and the Florida Cnme _ e following several tables provide details of the City, sp Q Information Center: a :uniform system of fir-e protection services, which complement municipal fire protection A. obligation bonds, principal and interest requirements: of revenue specia�obtt Services -within ten municipalities and provide f ii; service fee firm protection fomcen unicipalitieswhich.im-debt. have consolidated -their fire departments with the Coumy's fire;dcpartment; a consolidated two-tier court s 'stem pursuant to the revision of Article of the Florida Constitution which became effective on January I, 1973; the development and operation of a County -wide water and sewer system; the coordination :of i the various surface transportation programs, including the operation of a unified rapid transit system; operation of a .central traffic control computer sN'stem; the merging of ail public transportation systems into.a Count-v system; the implementation of a combined pubiie library system of the County and eighteen J rzntc•pallttcs> which totciher ocra'r the main fi 'arti , seventeen branches and six mobile units servicing , :? fort} --four County-widt� locations; rentralizaron of .t:hc ;roper t} appraiser and .tax collector functions; the furn.sttina oi' data to inuni-i t,liti--� tht. Saar,. c,F P.ilz,;cinst.:t:.on and several slate agencies'for the purpose.. . y `1 of budget preparation a,idl :,a, their respective co.°crnrncatal cti; cratians: the collection by. the Countv Tax collector of all .ta.Xes and distribution cite ti} to [lie =•esP001.vc cowcrnmcntal"entities according to -their respective tax levies, and the 2ccvclopmcnt of minirnum acc:cptable standards adopted :by :tlle County Commissioners and enforceable throuLhaut the fiouraty in such .arras as environmental. resources management. _building and zoning, consumer pr q ttection, health, )lousing and welfare: U. 41 `.1 .J s i . ,:.,.. . 1 -. cr 1, _1985, She was the �Caty s Assistant City: Clcrl. iiditax Wit+lcn "S,cpfib ... DEBT SUlvif4ltiARSI - tti 9,n txst,: 985.' She U _ .sm duate�f C:'ison High.SchooI and"h' completed college- . .New York. °"ir'�olr+e3li�siryfiloiia at,Los ,�neles; and Hunter College, The information under this beading ai ed i nds 4at:-S�'acuse-UJttaversity-and �obtaine the.three-ycar,Certifcd Municipal ."- - contained in the audited " financia s[atemsuCs of the C ry eSee�A pendiat R °`Financ aI Section-, of the d 1 en f p +fed bad fiat U, ni stly- his. Hirai as a metnber of.the:International-Instttute"of" - nt o r(Financial- comprehensive Annual Financial Repot "Stateme s}", -' Payment of Bonds and Bond Election Requirement ,t'`` lFrd etio�ns e ' de ublic.safcty: kra= ti ciaaczs as:authorited kv its Charier: Those:serwces includP _ ad valorem taxes t The. Florida. Constitution does riot provide a limit the amount of he City main to Article VII Section,9"oftheFlorida"Constieu tiara, -.. d,�ari`iities,asit and garbage collection, street maintenance, planning 'ents, levy for the payment of voted bonds. However pursuant o(40� per"�I.,Ot70� of the assessed valueof ...., and building code, inspection and ns ionsttucnote:�of capital_impro the City is limited to a maximum tax.l,evy mills perSl.O�'(�Ia p scs, other than. €or lire payment_trf, voted. . ti*�9es fullan�e of,police scrvices,. has a uniformed force of 1,060. and bonds Adrvalorem taxes sllevied for periods no_fexccedingtwo years.and"authorized by a vote -of the electorate :;. �nt:er►a�lian,ttitnponent Of424. The Fire Department is rated Class I and _ are' excluded from such 10 mill limitation. "till, rye and emergency services _ $ - Article VII; Section of ih Constitution requires_the approval of lectors prior to the issuance e Florida Co than twelve months_ after issuance.. The provision arlaage and trash pit and �eriforces sanitation requirements. Disposal of trash `I'hc-I�epartmcnt bonds payable from ad valorem taxes and maturing more of bo I VII Section 12 which limits in Artie s such vote to electors who" are owners of freeholds not wholly exempc b r" fa xiridcr contractw5th he.Ciiy:, of Public Works of.sewers and other capital.facilities required frorn taxation has been held by: the' courts to be void. ,4ecordingly„ all quali.fted electors in ts�ie~Cuy are and e Lt,abdtnaiiaees" onsttantxion r maintaining most arterial, streets and d t,Couiit�>.are r onsiblc -for _ f, b ` ;an the = eligible, to vote in bond elections The remainder of the relevant section o f the Florida constitution_ providing . _- ,". ' Facilities maintains " m `fit City The 1,�epatutient �of Parks,' ,itccreation and .Public Ea - h ai for ad valorem taxation as been held valid and remains operative. iomtt d ptrls And administers Various rccreadonal arid :rultural programs associated" . a� n Legit Debt Limitation, ecneral obligation debt of the City: to .15�o. of the assessed. valuation{ Charter Iimits g o f all . . The City Ch :.. _ . (tt'li real and "personal property within the City limits as, shown by"the last preceding assessment roll of the City r �timAi id Aata,conierning. the County describes the regional government services aiid provides'"that.bonds for °street, sewer,. sidewalk' and: "other public. improvements which are paid- from ` _ of the City: , - - "_ : Il#i4 tcsiidL-its of .lie C�una�>, including residents special assessriients, shall" not be subject to such limitation of amounr nor be considered when: computing - y p P �'ect, a �iztn:ta +1�. With i'+oV^crninentaY powers .eCfcctive upon �7. cities in; and eneraI obligation bonds that may be issued.. - g the _ aThe .. ft cif', �c County. The doesrioi displace or r lace the cities but supplements. P Y debt li - ptember 30, 1986 was Sl,s8�, t2 535,. based mitation_for.general" obligation"bonds "as of Se " Lb like. z+a�r, pa �ular activities of a city' operations (1) if the services -fall. below " ". on the ncrassessed" valyation of 59,'_3I ;4T6,905:"Outstanding general obli=anon debt applicable to the°City's t3ie ,� of Cou-i ��' Comm y y �' '- ` Commissioners of the Count ;(the.'"',Count Commission"); debt limitation as of June 30; 1987 "totaled S"i93,.105,000, which is approximately 3.09°�a of the net assessed pG„ r'7i -b bt tom�ning .body of the city' : ._ - n valuation. _ . ►uitiati �bvrimtncnt Sias, assumed".°responsibility -for "a number of functions; _ kliceser�sfiiicatnplcnicnt municipal :police services within the municipalities; Selected Debt Data - 1zando W Cam .Information Center in Washington, D.C. and the Florida Crime g The following several tables provide details of the City's principal and interest. requirements of gene: a1" t rn 53stenzt-frareprotection senices, which complement municipal fire protection . .. _. .a. bonds, Pn obligation bo 'nci al and imcrestrequ'rcrricnis of revenue and special obtieatio :bonds and overlapping p i - - n .. �.3a $ad PTO*ide'fuli s ice ire;protection.for seventeen municipalities which " "tie Dade County:debt: ,*Q, t is swami Cbunt0s rare department,, :a consolidated two-tier court t • Constitution which became effective on January: '�►�i�iii,a't�i--�"�,�! of:the �fl73da CC1n51it .: t? .lion Fa �County'-Aide water • � .and sewer system; the' -coordination -=of. - - �'�i r¢Txns",'including the operation of"a":unified ;rapid transit" system, ; t.:af 'i: o ii puitx sa'stem; systems' the ancrs;ing"ot all public transportation 0 -combined - eii tatioii Ora i.ubli r 1r hrary s t vs crri �o f th e . County ..:public - - Co t, eighteen ,and 1 ht'�► .etht.:naia_library. seventeen branches and six.mobile units servicing: .. iu-alizationofthe ro. crtja _. P p - Ppraiscr.and tax or -the _. the L of Public Instruction and several .state agencies for the purpose P rP esr�b;NTg0°erntti�tal operations; thecolicction by the .Countv,Tai " 'Ir+= t-ir to ,the resp=1vc tovcrnmcntal-cntities according to their: " 40.0 I �s� =X .of initzimum;acccpta'blc standards".adoptcd by the -County' h_10 hOW : ^'fir -Count - in .such _.areas ,as,. tiivirontncntal. rcSourc - . sri.. ..�t,•-I'smnea._p'-O ctze�n, iicalth: housing And .welfare : _. - 11 e� I GeneraC ;QbEtgatto�a gQn�ed tncCebtedn Principat;and Inferest>RequlaemenWl n .:Year -_ :_ (degpceemept5n Ending 77jjanaij4 5eptem mr 30 '.I987(I} .- - 1989 1 l t:?34QQ 1.�F�*6LQ9�T � 11.45QF000 1�& 1991:'-: 1992 °.. 1�;48tkFOO 1F3wAi, 1993 11k,!6F00O,5'- t 199a IOI2t000 3F�.�4. 10;3fr5FOQf £x.4A�6 1995.:_, - - ; 1996 199 `.;34.0«3�A6r 000 7F680}ROQ11 6,1€1 1695.04 FOQ � �00T -�.�_.,FO:QF�pV41lR _ -�AQ}YOA�X�`. K --_ 2,61.5F000 �0?4 200, jiIJCF Yi d-CI 2011 _ 2012 . • 1,-BSF -�`16`„6�: _ _ �Q13 :1,,40F1A000G �6Q}7y".��e��� za14 . ` - 9 „10 F606 t1� (1) Represents information Eor the;final thr4'e rffonET� ase� , t s - - J =3 '' - i i' F w. r. -ju 1981 Generat:0bligation Bonded Indebtedness ins a j'30 abliplint: Principal and Interest Requirements, 2SI Of June Al 19ST Mail issue A"Ount -Asnount .-Dole Year Requiremen(S il3�Ut Ss MAY)() 1,100,000 Y 61u."fi- Ending; Sepjefnber 30 Prin Id Ingerest. Totar 1 01 _01jo 1990 S: 1,880,000 756,314 2, 6 36.31 4- •1987(l) �61 -198 1 O(Y) 014 11,650,000- 13,429J56, 25A79F,156 08 7 4 1 j,,W (W I 1-1988 ............ - 1989 11 230-,000 12,656,097 23.8,86,097 1988 6C�'j ....... 1990 11 �,45G,000 11,908,148 23,35M48 j 48. 6 1. 500,090 "Wow 1991 10,440,000 142,9,15- 2 1,5 82,9 t5 ........ Oda 1�"- 05.0149 A988 1989 .A,50U,000 --- ....... 1992 10,980,000 10,361,873 21 -341.873 - '104 .10 - 199 0 10,260 000 9�,581,3M 19,841,305 .... . ...... 10,0 goo 3,'OWDW 000 8,812, 9�21 _,,S, 7 ...... 1 1�70 A 0.01.70 �1990 7.OUO�OW T'- 1994 ....... 1995 10,365,000 8,144, 462 19,509 462: 1991 ....... 10 180000 7,827T2�7.0 171:6.72,079 ....... . . . 1.71 1996 ........... I I 10,195,000 711-6,, OMI-71 _1991� '1992 1,100 Oryj 3' 1,. X -1997 ...... 00() 0,137,6877 15,442,697 z, 0&002 .1992 _1992 1998 .... 1999 8425,060 5,487,274 1"2 . 3.000, ......... 2000 .......... 7,680,000 4,85 044 8 -,538,044, , . q 2001 -16,055, 4,� 17,386055 1422 to 43 1997 1993 If, f ,14:y ........... 2002 8,180,000. 3585,256 7 6 111765,25 2003 $600,000 1 2,922,10 1- 11,522JU 1995 1995 1 6,765,000. 2,23-7,714 9,002,714 ...... ...... 10-01-45 1995 5 -20(9 ... 2005 6,210,000 1,685,046 7 895,046 1995 ........... 2006 ..... 4370000 1,282,991 5,652,992 _i7 1997 1998 MOW,M .5.1 000" SK 2007 -2 810,000 1-0058 318 28,058 D"147 1997 2008 2,615,000 820,702 3,435,70 2- _04141 1997 -2,550,000 -90 650,2 3 j2C0,2 ...... ......... 05-01-77 1241-77 1997 . 1998 Iow 2009 ...... I .. - 650,000 476,219 3,126,2181 1241_17 2003 -010 .... 2011 11975,000: - 340,561 L315,567 12-41-77 1008 x, ........ ZL466 6000 11,,630 WWI 1. 1998 20121,285,004 ... 1,00,00 , IZOI48 1998 2013 .! ... -0 81-600 6000 041_81 t998 A $193,YO,000 2 S137,36'301- -11,,55637 S0,4,31,30, 1 :2001. 201.1 4,AXw 4 info for the final'three:months September 30, 1987. of fiscal year endim, - .10031- 4A X �, �il�c_ , (1) Represents "'information Z_ mv AIM 0 4 5-01' 3 1013 1 AMAX 15� 'A 044143 2M! SAx-m- -Nv v k. _zw JWV 13: AL ___ $onus nett A S (5) Thesting%Fi $a: lrte+v� _ .. _ .:. :1<987" : _ _ .., - _ s m and secured thi d of theneC. revenuesEfrdtntChe cconvent on . payable_ solely from d by a pledge of E) 'one-third, r lbncanaang development tax" I n the County, (it) investment earnings on -cc rtain monies= epostt , he - dsaand (iii)If om tnalanfunds [$uu _... Amount :.- Amount unt. - $hte �t 30 c 1990- (except on [he: earlier occurrence f[cCr�alnieYCnCS do wn undCra Fetter Cr of credit,,, , - :Outstanding, -' „e ,Yeu ssned_ __ZS,days-interest in an amount equal to principal plus 5 aC 1?%0. per, annurn- The City`s share of ihe" ` :i2t�-�63 :; . �988 ` : $ .3,125,000 . $ : ISO,OOQ - conven tiscu �hibitiorr used to construct a multi pu ose tionfco convention development tax must rP a * .,. _ 1989 225,000 _ 63,00D center orma or components thereby � _ of wtiami- The City s share of theset �€ proceeds. major P hin t City ...� is to e $3 0 4:0 mil[ioof, n pe - - _ per year.he. b $ � aragte 60 000 000 " . 60 000 �0115 (6) Simultaneously with the issuance of the Miami Spore and Exhibition; Authorit Floa[ingfFixed. hate . 07�O �i30: , Y. ,0� ��II�� jj■s - - ..-' - �"'UI _ • 00" Subor t €f Obligation, Bonds, a N e was entered into fora $10,00a 0 5 u or na c t ; - Agreement - Y Bo 0 �.a." �C)7�1-85 Z008 13,720,000 13,72Q;'DDD Series 1985, s cured by a su ordinate pledge of the one-third of the net tax revenues From the convention . ,. ,.. f certain tilt g this r i es service taxes (See pa e 24 of C s document) - development tax and a s pledge development 'blttt�n 9azthbtaty ' - facilities and the o street parking n F the t parking: aciliti - p Secured u he net, revenues o e off-street (7) by a pledge of ate $Pet ha Obligataor+ 3 _ - 38,000,000 38,000,000 et h m ers of the Cuy - These Obligation Bonds arep ble from portion of the franchise. fee collected from<Southcm ay a p (S- tid.11 tibttaon aithot�iy 2ti=85 . 1995 - - ..10,000,000_ l0 400 000 12- - - p any in relation to the constr_ iiction-� oper-ation and maintenance of - - Bell Telephone &tTelegra h Comi Statements") - telephone, and telegraph Iines within the City. (Sec Note 16" in Appendix A Financial Statements"'� S i7-86 .:. 2009 16,275,000 . 16;185,000 `.�vetiue Btancls'�enes,1986 �). ;= _ ate i;venue lsottd 121"6 _.-. 2007 2,000,000 2,000,0o(i 2006 --4,290,000 , 4,290,00t $147;635,000 1144 408,0t3Cs ii3 bvided yut;'lities tetvice imposed by the City on each purchase of electricitt, - - ii al ep tane dt egtaph�er�ce.ATeservemustbemaintained equal to the maximum servicetax' on telephone and teleg r aph the utilities uer�dr�,t:anete#netcst.t�ly or11u, o1n9 8o7f bwtxn-tome tadt vitr1euto Alowtyat a:lower rate of tax,to tax: all , lek6 niterWees +within.its boundaries -.. iii f rwri;ithe lease tor %be avarahouse i'acinties provides "debt .service on the: bonds: is bvad' _ ed by net=.v=uesvftheConvention �Genter-Garage, a pledge of certain tel epho , c _ - i i& t iatc hues b3� a acovenant �I the aty'to provide; to the extent necessary , 6 t%.dth+erthah;,& lotemproperiyjanrevenues;sufliaent,to make up,any deficic*tc.y" - �1ttt[ �' 8.und.(SceNote 18anA end[x,'�nanaalStatements"):OnApril30, 19£ PP - -_:. - s�t�n �u ihbrazsd�esale�l'�pecaal lteveaue 8onds,.Senes 1987.i n an amount . . $efundmg b�o�d�ntete Uri ebutstandtn �Ctonvention Center -and Parking Garaci _ _ ids. RtpaymentVttbeSpeaatRcvenueRefunding Bonds is.secured by a pledge, of Ithe tbf!he tt==anon w-C,atage, a pledge of certain .revenues derived -from the-CitN 's i tti3it Iron tetvitres And lby:a eoYenant of ilie pity to provide, to the extciit necessarti'. i 7e d atnt [riutpbered IrtM. ues derived from the City's tax on utilities services. The da. r peaal .ate ettue kelunding:Bonds s unknown at this time. . 16644atibn lE3cmds are ayable from the net revenues of'the Government Center PaT . aim.d"valorem revenuest the City- {See Note $ to Appendix A; . "Finan .ai - _. 15 __. _. . - _ .. - - 1 .. - . �i - -' � �I- � .1 �I� `p � - - f - - - - . _ _ 'r :X Z � _ Y r f ' � �r X -' - Z -, S _ ;: x Y '. - 1 fa I. -1 z - - . - - _ __ - - - f`1�p p �/�g, I ��y/�y - - -.. ", :.- En �4 b� YLY' 11r[i �^� Net 'Qvertapp D -W . . - - _C _ x - d _ ,.. V'. - r , - -. _ 1���� Direct and 'Debi-M.�-, OF __ -- _ -_ _ _x i S._ -- . __»: _" _ _ ' -' - - - „s 0U[tgnuam - a61i�rolianE: . _ - - - - - v;r. . _. . _ Deb e4�ieEt - �e6�@aYeE1EN3M- ',:. F �, -.,. 1 a' = Y r City'of_ Miami (2).' $19 00 11i7Fy �� - _ r x _ x - x V, _ x l , ,1 - _ y ry � - j7(� - - :: 94 83'4 00(b,- 6 .R! 00 . -_ - _ _ ,� = - - 4 r x : ! ! Dade County (} C } .. .. 4 5 _ _� r _ _ .- .,� :. _ +. Y _ Totals.. $29a,531,000 QI - - _ - _ - 1 !I,I _� _ _. . _- X X '4' Y T_ XXi �I . -_. - - -- _.. - Y s Z Z x -' s �. 2 +'x X R S- .r x Y x _ Y - )t x _ - -- - .- :- =. = - - " (1). Amounts- x ounded to neatesr thousands: ii 's Refunding'Bonds„ Series 19sat authomw - - .,. _ �-' ,.- ( r : Excludes the Cit Special, Revenue - - . - � 1} - : = a on P.pril 30; 1987. to be issued in . an amount not taa exceed $7 ..0Q 1 M., tag r -' - - -- -- �- - '.... ... .e - - .' _ y� _- - _ •� (� ., - outstanding $60,000,000 Convention Center and Parklnt, C"arage l�evenuex - _ _ -- L - .. ,... -_ .. _ _ - -, a Z�l� _ _max _ - _ sale of such.specia 1 Revenue Refunding Bondi is uilknav�Ir at e' .. .:. ` . _- _ _- - - x � - `` - of 5: .- '� `- -- - - o f - : q = _ t ; ecial obli aeon deb t is payable frain revenue sources other thatr ad valnretti , _ r w : - _ - .. - _ _ - obligation bonds an d revenue bonds: - o . - - - - "'- - `:- - - - - r � - _ - - - - a - - � _ _ _ '_' _ rz s x.X s x �c"-x r x s - '-,X t _ _ - - s _. .. - - _ - __ i = - -'� = i .7 - ,-. - -. _ eludes $91,150,000 Waterworks Sy steno Bonds whicFr are outsta;IdlFt J . _ - -' _ i a Water and Sewer:Authoricy,as. well as a Pledge ofth - .. . Z s - _ , of" the Miami Dade - _ - - -- x-- - - = �= r d ualorem taxes, %f necessary - foma = f _ - - - (5) As of Septelinber.30, 1986; Dad"e eount}�`s totat �iezxee ®► 1R&A404 91? _W _ X i' =._ = x 2, *_ � Combined 1 ebt w � Special Obligation Debt was $335',900,00f�,.ar<cl its tq� - 1 _ -' - - � - x i _ _ are the �ity's. share: of Dade C'ounty's Dept based olu assessed �aCuatiotr� w�hic�L E .zC _—" =ter - - _ - - - - - - . .,. - _ - _ - -- - --_ .. - = w - '- v - - = _ _ - - s, x 3 a . n � _x ., z ,x x x a' ;c z z z Y- X X .`�. t 7C ii x r X_ i 1-- = :a - L _ L > _ - - , - . . - . ..- - _ _ - - _- -- _ - .,i -. _i �. Y X Z x X X Y X X V X _ _ _ _ - .. - �J - - ,7 .JC - - - `. .. _ �a .Y v`. �C . .. .. _ .. - - w_.- '- r - " - - _ - -. - n - - - - _' �� ..0 — � _ - _ - - _ - _ _ - �_ - - _ ' - - - - - - _ -� - - - - - � - I - - _ _ _ _ _ _ _ _ - L - - - - X - Y a S - . `" - v U - - - - - - - _ _ .a. = - -- - v x -,� u` _ f - - - � -, x - - - - - _ -_ — . J 3 . - -- - - -. - - - j j r=. _ --- - - c . r - .: - - - - - - ^.. - - -� _ a - _ - - _ - --. - -_- - - - - _ r. S. - _ - -- - . . .. - _ _ -- - - - - - A - J _ ,'a j= - - ZI - .. � - - - - � - _ I - -- . - - - - �- .i w a. S. Y. - - - - - _ - ' v - -' - . - - . - - - - - - '. .- _. �- » - p » -. _ - - .LZO a - _ - - _ -. _- = X Z Z �[ T. Y ]C Y X - `Z X Z -= Z S S 2 - X Y - 'Y, --- - _ _ - - _ - -- _ _ �- X Y _ - - _ _ _ w y � - _ _ _ _ w r r _ _ 3 - _ - _ _ � " Y .: X - - _ - _. f ., -W, - ..-. -�,_ - __, - - - -yam- -- --. _ _- - - - -_ -_ - I- -- - - .- - .- _ - - _. - - U - ,- ..- - _ _ _ - - - - Y ,' .. -- - - - _ -_ -_ r - - - - - - - - _ - R 1. '- � - - - - - _ -. - _ - - - - - .- - -. - - - .. W . -- -' _ J_-- _ - _ 6/ y�. - - - - - - .- - _ - - - - .. _ _ - .. -- - - -. .- .. - _ '1 �. ,r - r -.- - _ _ _ - - - _ - - - - - - - - - J - _ 4c� _ - - . - - . . - - - - - - � - - - - - - { .--. - _ - _ !, -� _ _ r __ r _ _ u- _ _ -. _ I. _ _ _ y AI -; - _ ., - - .. i _ - - - _ - � .' . _'- _ '. � - - - - - _ . . .. -. . - - - _ _ _ - �. _ x .. - - - . • - - _ - . _ - - .- _ - - - - - _ - _ - - - - - _ - - - - -. _ - _ - - . i h '.- _-� __- - _ _ - - _ - - _ _- _ - _ a -1 - - -. - - _ - -__ .- .- .. - ....s. r -_ -_ _ _. - - _ - _- _ _ _ - _ _ � _ _ - .e _ x J, . -. _ , - R- 14 S.� y i ^j }. 'awe ``"� ♦� � k ..- - - v,_ .. -,. �. - -••-; _ .,, - - .ate' _r. ..: _'.pia.- ...:... ......:... .,. .. ._. - . 1 -._ -- -• Is - - Itatta of Net: General i3ontYec1 ilXebt,.. a ... P ;-,- -� debt Qndecl ' Vet Assessed_Ya1uf� enera ObAtgati6a�,1. and VetSG� _ «. .. r o � . to ... -_ chausandslQ � t - w M1 Nei Net Cene"4 _ - - -.— _ - - -9 - - - -. - esseck - _ -- - _e�►SSeSSet -- EtomelfeII(�I - 4valLLC Rondwl PoW - Sept. 30, -Population: VS Erempfiom" 1986 - _. 371,975(1). $10,184.933 - S.953,5166'., 9, r417 5 9 9,-31.,16s905 1985 380,446(1) 9,696,610.: 952,430 8,744,1�8QE7Qi,0&7 - -' - --- . 1984 383,027(1) ,-9,346,Q33 954.979 _ - - - - _ 1983 382T6(') . 9 659,'_81'- 920,895 7,739,,38fn'; _ _ - , 1982 382;726(2) 7,962,129 : 750,665' 7,I E,464 .: 149x39 _ 1981 399,995(3), 365- 564,-39 6,0593Z"T , - it 1980 346,865(3} 4,565,78a 19?,311 _ 4,36p469r _- 4345,000 4,227,175 . 196,709 4A3.0,46t7 _- U4„786i ' 3,828,183000(4} 4,023,84T 195,6641978345, 1977 342,.000(4) ._ '- 3,938,270 199,559 3,739,7) i' 1E5>R3[411. _7 7-_- y by theStatebf Florid Via, D4 tS10Ifif1 � •��i - 9,9r�o (1) Based:bn population estimates provided % — - - - - = -•�i; of Business and Economic' Ices earth, University- of Florida. i - -1.9"' - on the uI population estimate used by else Office �rf lc�t ()Based Jul ; .1,,.1982 _ overnm .. involved in tttg anon with the Federal Census 13urea�f� ehaiCece� 3) The City I ; �: = , C011 of 980; as -a result,ldunng.1981.the population count was a r�,lus�.� n . count RevenueSharing purposes, - -_ _ _ , < - - ~` and water y n the. basis fif added electric cottnfa the Cieo E timated. by- . . (4) s constructed . . . Bonds Authori'zed But Vol Issued . - _ _ _ = _ ., .. - .. .. General Obligation . ^ y -1 - _ ;19 r��� �+r /� p}, _ - _ iY.founti* �f �."� Qb•��.. The followingtableoutlines- the -date, tppeanci not issued as ofJune 87. -. 0.5 Lh"io 1' f Debt. ' Aathotfte� �sft� Ante of Voters. Approval :_ Typeof .... _ ' 69. QQOt . October 7, 1980._ .._ . _ Sanitary Sewers S 45,00Fh,Q0 ��Qt October 7 198Q : Streets & HighWAYS . 30,000,000 4> 1 ,Q0 = 211 r 3,' 1981 _ :. Fire -Fighting . November Nave - _- - 1984 : '. Storm Sewers. 30,,00�kAW 14,0W,0�1Q�. March'O,QE)0,00E r - 17 -- rl Pesoon March 13' 1984 Police Facilities -1�@AEI�« - L.. - *So. Ica. � t F. _, - Totals— .. x . E. is PaAmble. •+ -+ �-.. . - i � - µall e--i - Y r A r _ I i m „ V GaG Bo Debt , . ,. .. to Vef Assessed Vatueaand diet General �b g atiom Bonded Debt Per Capitac ($ inthousands) R of - obligmtioTjt Vet .' Ner Generat, `. Sortde 1�eGE GeneraG an e ; Assessed Homestead Assessed' (3bligntioR ur Set: Yatue Ex : Valut Bonded G1"alit As, Value Bonded L7ebr• . etv Debt PerGupits� -` Sept. 30. - Population t 2 0 6S9"�31, t1 7 a I986 110,194,933 37t,9 5O30 51-,.6Q6 t I80 1zo 087 195 t 6,610 95M�A_ 8,7 ,.. >: _ - ,446 = 1954- . 353.027 1 9,346,033 r 954,979 8,391;054 146,-IO2 f.7-4: s81_ 1983 382 7�6(�} 8;659 2$1 9 0,595 7,73$,3$6' 124,9Si 8 r - 7 9 ...1'9 750 65 1I, 464 109,,395 15' 198?' 3 82.726(2) 6 .. , 35 . 198I - 399,995(3)._ 6,622,365 564,238 6.Q58,T?7 IFBQ38. 1.95 29S.Q9 .: _. 1,� , .. 3 ,. 1950 346,865(3) 4,565,750 4,363,469 � 35�€.65 ;: 1979 345,000(4) 4.227,175 1.96.708. �1,030.4fi7 T.34.786 3.54 390 6S �' a 0' 195 664 3.'S?S',133 128 OSg 3 35 197$ 4 , .,3,847 ' 37I.21 342,OOp(4) 3 938,Jt7 I98,559 3,734,71t 119,341 3_i3 ,. , provided atcof Florida Division of Population Studies, - ureau dad by the S �..... �-- _ (1) Based on population.cstimates _ of Business and=Economic. Research, University of Florida. . _. -.' .., f Revenue Sharing of (2} Based on the 1,1992 populationestimate used bp_the ©ffEce o' the-1`ederaT' 4 S - - 5 Government. - - The City involved in litigation with the Federal Census Burea u challenging the 346,865 population (3) u as count of 1 a result. during 1981 the population count w ad}usted upward to 399,99� or Federal 980, as tr .-. _ e Sharing purposes. R v Etim <, " = � tad. b :the City on the basis of added electric. and water connections and new 'dwelling units constructed. General Obligation Bonds Authorized But dot issued , ,. T he following table outlines the date, type and amounts of. general obligation bonds- authorized_ lrut e u 0, -not issu d as of Jun, 1987. PreviouslyCurrent -i5suedCtiSUN Date of Voters Approval TXiK of Debt: Authortzed �Ilisr`ue[t - October 7, 1980 :... .. Sanitary Sewers S �5,400, B4OOO,o00 5 2,500,000 S34,500,00Q 0 October 7, 1980 . , Streets-& Highways 3Q,000,000 l,LQQ,O(It? 5 0 Q'QOQ_ 3 90 Q(�€3 r t�t�/y [�C1[, '1 '—t/" November 3, 1981.Fire Fighting _I,OOf}.QC)Q IS.00b.000 Q,VVV.VVfI-- ��:,. , ... March 1984 -:..... Storm Sewers 30,000,0W.. -. 14,00(1,00€i t .00C7',000 1'S,OOO;Ot1t1 t �- .mac, ': w _ a-c —� _ -�> _ .13; Ma rch' 13 1984 :.... Police Facilities LO,OOO,000 17.000F00(1 I ,SOQ'.00t) :, t ;5t)p.Ot)t� S bt?,9t7c',Oi�tt 77 _��.. :' = - „. - �. : z J _ �`t w, tt,Q€lE1 _ S146,a0,0 S'75 51Q,t�t)Q:OOt? Totals. _ as dYH sW j..` �w - f' :Y.�.'•,'w.. r..iis..:z'-?' .S 'a:. .SG.�is4..s?.,,`+n3.` a- �Ya.. ..w •• - _ - -, - r- - ♦... - _ - . - - _ _ _ -.. - - - _ -. - - - _ _ - - - _ _ _ f- _ �'Zi" � y +, l:y.rwi �� L'�".: w".$ m ,� _ .S - - '•fj.t �'� Tt' y eYl a. _ - - .. - - _ - _ - - _ - _ .. -- - _ - . _ 19 .1 w _t �ff The following table presents certain, 'financ�it i0prmatift of tttz � C1� � inatctal.'staeenentCemStatents" for auditedfl fo.r the l ea m ct f, I L es, from. a variety f sources.. The following table lists the City's G eives revenu 0 0 Th Genera! Fund.rcc e ive fiscal year s. Certain.. f nancing. sources S rec eived by the City from these sources for the past f' di A, "FINA EM ET art rectassif ed- presented as "0 crating Trans fcrs In in Appen ix NCIAL STAT -S"' EN , p in:this,.table according to their sources of origin.. General Fund Revenues and Other Financintr Sources 0 (S in thousands). 1982 1985 198.1 19,46 1984 Taxes: :101V:w 88 138 S 84,209, S 78,968 S 619� S, 61,865 Property, Taxes 6: ... $ ................ Utilitics-Scrvicc Taxes 17,917 17,563 10,1 f,643- 10,6774� 3 4,885 94,9i - - 3 5,703 4, xes ...... .......... -18,,593 �6O 7 Franchise Tw 87�,t5g ma, 1241648 17,945� 106, 154 W- -so Licenses and .Permits: 4,77-5 3,954 3.982 3,874 Occupational Licenses - ...... ....... .4.097, - Permits ....... 2,087- 1,87 67 7 ...... 6,016 6,041: 5,853 5,288 5,45Z "or vl�Z,4� Intergovernmental: - 9 Revenue .... 7,149 S,9,21 9 87 9,267 Federal Rev el Sharing W. State Revenue Sharing ... 11,962 1 12,298-. 12,084 ;0_-A - __ _� , - . . , e. vlz i -11,355 a, 634 9-419 Sales Taxes. 1(),994 4:.242 4,019 Other Grants - 3,153 5,952 3J78 7%it �k 35 84 32,395 35,5.14 25,3 A lw, 3.013 2,79 9, 2.68 Z 485 - Int.ragovernmental, Charges. for. Services - i . , I , 7�735 -,Solid Waste Fees ...... ............ .. 13 747 3,950 4,663 4,412 3,6277 Other Fees 4,640 . 00�., r wzzzl 17,634- 147 1,494 wnrm-t tp� t'='emr. Other Revenues and Financing 4.621 4,311 5,611, 4�446,� 6, 148' Sources ............ .... I ... ,. 1. . . - Total......... ............ $189,103 $186,880 V67,966, S 153,966 S137,744 aw o Special Revenue Funds ='t� Z.:ZL't town Dev veto Authority is -Authority assesses a separate millage rare 10 Property In Down e Authority -This this to Parking contributed Business Di In 1986, the Department of Off Street Park Cc strict. Central theI operation. specially dcsiznated of the telephone franchise M fora xe fo -'Rescue Services -This fun d accounts portion U ;n PO-40 Qr th oeofz,-;� tZec rate t - provide additional rescue services. by the clectora . 0 ent r funds;wi ich were Revenue Sha ing entiticm -k- IMAV_0_0.; Cn. popz; t Funds -Federal Federal Revenue Sharing and Gran -Community Fund-. through. to, the General F ftt W iscontinu d bythe Federal government in 1986 were passed d fo sPecific in nt Administration Grants are designate a r d Economic Dcvclopinc "I Aatw_ 7 =t a Developme t Block Grants n n 7rl 5ry un;-'s 2:7-:_ Z-a _cncy_ ed by the applicable federal ag purposes approv a 1 'C uscs_ for revenues ro in the Cable T.V. license :gnuits $Pccifl ar 7 Cable TN. his fund accounts -T torid State, Legislat ure.passed a bit' F a y-O I 19S3, the Miami S Sports and Exhibition Authorit n u v, in P S t Tak on hotel rooms, I)CvctbPmcn levy by ordinane e a 3,(7a Convention: allLhorizing certain counties to a- ncNv multi -Purpose be used to construct "one-third of the PrOccc ds shall specifying that. ponents thereof as- funds per -it za the nost cOm hibition ccnEcr or the maximum convention/coliscum cx ton "The City then creatcd,theMiarrii SoorL& and Exhibid Authority Po ptilous municipality in the county-, 25 24 .4 A,— t. 4 an s ation, ddisbursernehi;�-: x for,-admini tr ,et 3zt of he L 7 - Dade Co a roved the U.1 I � pr and on October 4. 198: lyshare.the Citv under State S the Cit of 1&amils -arded to es ut.hor;!Y, 01 tatut b-v trie A ni; es is for co,, mo, La" Enforcement- fund-- ? eq 1 t hi, use: 'O- C11 Cunds Debt Ser C t of ad valorem taxes to pay interestands rate �CV\ t-, at, irizes-a The C", Cn a-, Y 44•er T un axesas i,ipali*ies to levy ad valorem prppertv Tax state statljte� `bliganon bon"S. zelir-ral 'C' I= -: -io Nnd oblinal, n gas '52 sa�v —nera -chas f electricity 'u� C 0 metered :bottle C; XX s Serar ice no-s es a, 101 !�`C' 041 each r U-ta i t e C.ni Tax furlds annual service of approximate y- V en U1- -�Orle anti -a additional walc�- 311C �,, jr.1- ;s partially pledged as An In adrtiu,011. 7 ax Bond J-Y"',t on lc� I Se— ,,men Center v 0 arac, nds,the;Spccia e Re enue B C f('7 02,N service �Cqul,,CM, Lhjhi 'on Authority's Subordinate Note-.L. or, Bois::; in .1986. Excess monies available after Thc mr, o a 1 tz. o.appiox'Tll nl,, f Lind. certain capItal project improvements are C01lecti0nS—P'�';"1 Y fl- ncrs� ahul";T12 assessment Lien ed ed to general obligations I �. Thcsf-1 coUlItions are pl n th C C o S' 01 t c ri a v used o finance these improvements. 0!`'S Z&b- sInc-gencra. om bon, fir, FnIerP rise 1,:unds subsidized se f�'m a-, N ". le- , i haracs- Certain1facilitics are f ry ur`lt4k mcral fund ill d: n E nI- r Se 47aC;l ;CS jnC1Ud;:- ",i tan - -am s*a ium serves as the. home to: the , SU 10 e� , . foo i b 3 --S, tw r....... the Baltimore Orioles. Local baseball.- N.Iiatni i;iadidm—Th;;,�-basebaN st a C, 11 M, 1S 11sw�J I pi a N .at ,,be stad;ulrl. Wnlcfl Is-ake Used, fo: o c co ":= and=other events. Marine Smdiurn—Vaarious corCCTIS ald cvents, are held- at this stadium:-. -Alw -n -1 his fund mciudes the D., - Ke� refurbishm.m Al2rinas iria,� cut undc going mpansion,and 'Warebouse Proper is pmre;.� nay ZI wil� the Orange Bowl` mince an is, t� —Tb d ong.zcm; i ica-se .1 and other equiipment. �o bu�id floai s Col!' Cou e s — Th e !N&O C!..�-Owned and operate- g ol id courses are used year round by local residents Ic tou."Ists. Auditoriums —The Cocohu,, Grr)vc &Jil tron C-ente, -s a fa vo ri i e o I local exhibitors and- hosts -V, ioinl!-WiM he Ci-y's Con%,ention Centcr. liarni ConNention Center The Con.verl!ior Ccnl!:r is Dar*, of a complex shared with the. UnIVCrSILY,r_:r om w e d world 3 Mulli-leN ye. parking Parage and a recentlycomplete '-aluc center -atop tree garage. Department Of Off -Street Parking -Ttie DcpanT r, en Cit as well parking garages'in the_City on- �rtet meters and off-st ect lots a wi, natal of -over 1- 50() parking spac es. Property and L ense klanagerneni:-This fund account,fo - the rent and lease of city -owned property b-v private entaies, covernwnful Center 1) arkino.Garage—Th; ca!- zara ter, 1-10, and in,_ ge servcs-thc Government Ccn pariculw the Culwral CcmcT: compicx. G&,() Enterprise Fund—Thc opera, ions ofdl C- Qusmail CeWLe" for the Performing A r-ts-and the Olympia inare accouri Buildin ted in this fun g 26 AII z: ternaService Funds-, , There are six internal service funds- that Ut:serr-supporting because , ;charges -for services to other. City departments-' These . funds. are.., -and, maintenance, of heaw,eqxEO=n� -Citv cariige--Tundm-For purchases -CorununicatiotServices, Fund, —For the maintenance of COMMUW924' equipmen Motor Pool Fund —For purchases and maintertanc theautorn VtV -Print ShoW.Fund Fund —For F the City's basic prtntMW needs Maintenance, Fund --For regular: btlildinl� MmAtcriancC7. Property % alterations arid'additions., Procurement Manap-ement—For centralized, purchasing, and sup,7*4S 49V Pension 'Er"I Fituft- 0 T Ila V City OF Nuam b The City has two separate pension funds�, 7he Y Re'u'rement.Trust,'(FIPO) (formerly the "SYste1W'and the QtOfMi4mi den) (GESE). (formceVy the Ptah j.,- The acwamr-Y- Employees, Retirement Trust, Chicago, Illinois.,F Stanley,. WCOM Capital; or FIPG, the actuary is apital - Inc. I I I d ImnalLy. .-. I - ds,, fTrustcesA dit� aft. firms were selected independently by, the Boar 0 ill wiitribuM to determine amountthat thC7 Cityz W to d ine the amoun W� H. Friend. Co. Division of John's -on and Higgins of ashifigtom, 6.c cz= whietv scttt I t985 the City approved the Oates Scttlem tied; liestioix n d :has 6�� provided, by the � Gates - Settlement. a third Trustees. As -- -the City and Pension Boards Of Tgust�CSMIV�d WQ, disagreements among cluding ,the Cates Settfemcno scussion, of the pension t.rustst.in A .detailed di a sumptions with- respect toGESE- and, FIPP 4 contained in Appendix A.K4 STATEMENTS2' Procedure For -Tm-c Levy and Tax COkWfiow-, terntinedlcach -Real an -d 'personal property valuations arc,dc Mai. . -market. value. A notice M of Property at 106%, of mW Assessor property valuaton.The property owner'-er liar the he tight to! FUW?. PPwt Boardof TaxAdjustment irsuchproperry'vaivat.onas Ftenni, -4bythrp Alt with that as determined by the property owner--_ appeal Of SUCh Varu-id Board of E4ualization,.� The�2o arct Mdrics, the *a the Dade. County Boa, the hearing Of all appeals. 1-so-filed tacit year or, as 30014 All taxes Are due and. payable -on November I the Dade County; Tax Colt�CtM roll is- certified and delivered to r on . the assessment. rolt a rIOUCC'of the taxes, rqvicd� TaNcs-1 to each taxpayer. im the! morwiti it the of pqrcent if paid.. th,di counts four such notice, with. s in the month 0 140 if, paid in th et month of Decernber,� two percent if paid, in the. monthof. February,Xaxes: Paid taxes quart ty-,paYMPntsb-asCdQr#- or paying their KCS in equat -have the option cnr rGUEPU clis" with the June, 30th OmYrn ccn, ent,di ount with a six p rc Isc a payment, tw6 percent discount plus ont- h lrof any11 mcnts,,discounECd- at three percent- viiththe Dccernbqr3l", year's tax assess one-half of any such adjustments•with the March- 3 Ist payincrt Alt MAC T :. iiit°:dtmn�strait,o. as 4, Service; Funds .,. - " to thc+vi<y .;.'ti�. There are six internal service fundsInternal. re self-supporting.because their r eriu -are derived fro ���nrned __._ ._. - tab h :. . _ c ar es or serge to - ices other City department fundsia S s These re rafi�»tttre;'ltitp�, _ ar Fu — and m a t City. S rn c tdata 1d__ , y -- ��i'�, ��?�t � �t� i�'�' �� id valorem taxes -'.ir ^G w :m - - -.- Commun cation Services Fund. —For For the maintenanceofcommunications and processing: �"•"�,"�..�� _ . : _ .-_ 'n ►ttvei"crtintpnhiles ta, leery ad ;a .s- - equipment: , 1 ►1%tiz►ir t +t- _ .� Motor., Pool Fund —For purchases and maintenance of the automotive fleet: . .. _ = ur�hascofcicciric.-z�, _ re"p-;-- - li�e�it� nual-Se�.�: an'c,�`r " Print Shop-Fund-Fo r aI1 of the City's basic printing needs:_ i'}�r„#�';'��''It�;'�`4►'� �� ��rcnur'funds - _ ,�,'irtictuC.courects.partially plcdt?A: w a.z Property Maintenance Fund—For,reguiar buitdin maintenance,. and a limited' amount 'of building tltcr.fi�arage Revenue .�d alterationsand additions:' (may 1 ut:: t °� x'itt< arrd I;�chibition .Authorty S Sa t rL Procurement Management -Far centralized purchasing and .supplies services '4itc,5: Ilion to 19$6 _Excess :rto..t": - t �irarstatarr� TZ.%td% to 1br,. cperal fund, _ , Funds Pension Trust Eu s t. dq �t► tect ± JZr—u s, Abutting certain capital pralz r_ .. - �-r • ... _ _ - ,. , ��. �_ _ _ ...._ _ _ _ �`'hmcollections are pledges_ o �.;_ ,, _ ,s.. - The City has two se orate ens ion funds, The City! of Miami Fire Fighters' and Police tJfficers` Y p p ` } + }s _ _ +��rrcoraginallyuscd to%�raar t ; .� ;,.. s"... Retirement e Svstenr ) and the City of Miami. General: Employees and Sanitation formGESE}-(formerly N ' Em the "Plan"). The actuary for GESE is Compensation & Employees RetirementTrust ntls.: Capi � cs� Inc_ Both 'Capital Inc., Chicago, Illinois- Far-FIPO, the actuary is Stanley, Holcombe and Associates, i~ br el`I}�trdbyuscrfecs�nd,�chargcs Ccna.,"`a�.w:: R � _ _ firms wereselected independently by -the Boards of Trustees. Additionally, the City selects:its. own actuary fu:ablhrr:^itrsran funds• todeterminethe amount that the City will contribute to GESE and-FIPO. The .City 's actuary.is Edward �E 'iattec ;utgew : H. -Friend S Co.. Division of Johnson and-. Higgins of Washington, :D.C. �Oim swaintd- .'s .an`� ;uscd I'm focuball dames; the.stadium se-v�' at i=e - •• 985, th City approved the Gates Settlement which settled litigation -with- the Pension Boards of In, e. ►l<ia i u ntt. Trustees. As provided by Gates Settlement, - a third actuary has been selected to resolve: current tadtntn rii` base:W stadium' used for training by the Baltimore 0-. -.`zs f,: c__ �; _ -.: .the disagreements among theCityand Pension Boards of Trustees. related to certain- actuarial' assumprions. �tr �st.arli usta,-w�rir3i � 1'tri'rocl; :concerts :and other events. ussion of the pension .trusts,' including the GatesSettlementand the principal actuaria A detailed disc' p tlinttr arious rt�ttas. =ncL= and nautical 'events are held a:. __.�-. assumptions with respect to GESE and FIPO.i s contained in Appendix A, Note I4 to the ``FI`�t� �tCl.4 L s s: � his cnrrcntly.undcreoing.er�a.-uio>a J � . STATEMENTS." STATEMENTS." - _. �.� .� hit, aWhlt r is :being roomed. lee #'opetn ro - .— 1? perza;ras a Song term ]ease wsth the Orange Boµ:-'1. :Procedure For Tax Levy and e o Tax Collection _..:-..._.. a�taaud tither lesti►al:clatc� . u eq tP ment. ' p property valuations arc deterrrrined each year- as of Ianuary T by the Dade County Real and ersonal . are'ttWO C-ity=pwmed and,9p�ted j ol,1 courses vseC Assessor of Property at I00010 of market value. A notice is mailed to, each property owner indicating, the .are yea: ; o ir.; 4 _ - property valuation: The property owner has the right to file an appeal with the Dade County Clerk of the e cio ut Grove Exhibition .. tCcntcr xs a loco° = �: - -, -' ,. Board of Tax Adjustment if such proper tcn� sucht .lavonte_-oi . �c.,_�,.ti.- - - .'�7t y' h he t -,s nv�endon rater,.. valuation are hear t _ d . with. that as determined by the propertyyowncrtiAlT appcalsiaf _ - 1t�s�dt;urbn �Gertter.=fie Conavention Center is n t en upon b ��t. , y'the Dade County of Equalization. :The Board certifies he.asscssm troll a on comp, 9 part of a.complex share; - -e .. pert itr Ctnter,;apnivat�ebotel,a#riulii=level arldn the hearing of all appeals.so filed= -each garage POP he 8„ and a recen.;x ;�-- : ,:_� .., .� ` All taxes arc due and -payabte.on-November I of year or as soon thereafter as the.assessrn, Ibf rolE't>Str�etlE'ng--fie Dade- Co unto Tait .Ct�ilectar ma-ls _ roll is certified and delivered to the unty Tax Collector. The Dade Co tariment runs Five parl�ing ga;ag .- . is a id_ aofls-stet dots '4nth a total taxpayer i ' to each on the assessment roC' a notice of the taxes levied Taxes may be paid upon rc^c:ot a` in �avcmbei- 'Of �vcr._ 17.500 parl;inE spaces.,.: !� �east.Mattsuch agettieat=-i{hrs notice, with discounts at the rate of four perccnt if .paid the month of th-cA gcrccitt' in month January percent if undaccounts for the resit poi' f aid in the month of December, two percent if paid: the -of and one 4 p items. and.lease of .; -3�z-� --: - in the month of February. Ta�cs.paid durinc-the month of starch arc without discount. Ta�cpa.ycrs also !etrtet ll'arnaruge— iris 9,100 :tar Sara _ k have the option of paying their taYcs,in equal, quarterly payments based on -the prior years' tax_ assessment L n +� - ae serves the Goy.„ i,+ic7n- t_ _ po� ttei complex _ , _ with a six percent discount with the June--30th payment,' ,four perccnt discount with the September 30th —etaonsof ' payment, two percent discount plus one-half of. any adjustrtients required fo brin^ tax payments to current th e�Cusman Center:for the Perfarnyhsr' a",; t'rn tltis.frtntit - - - v ear's t cssmcnts, discounted at three percent with the December 3I. payment and no discount plus - , - - ..- . stm with March 1 p All taxes on real and personal property .. one-half of any such adjustments i �- r the'v . ch 3 st avmcsit, 4 unpaid. ati ' , �iEittt'piri+ed�teilC'Vy�ng 'bpot tau lor:administratton and dtstiursemtn Internal "Service Funds - - °#l� '" _ : " :21 p nqd ountstor�n�$c itc9 nomesawarded 10 the Ctt� ender State ,tatute There- are six internal e . s rvice funds that arse self-supporting because their revenues are derived frortr. -charges , r tllenzneat Mated for services to other City departments. These funds are: -..- t�i��unds _ u n used City. Garage Fund For purchases and maintenance heavy "equipment by "tile City.- p c 'p,_tior�zzeseparatecvy ofad.:valorcm .taxes to ay interest ar:, Communication Services. " Fund=For the ritaintenarice of communications and _data .processing to-Ai5i -l�tcnbmds .State tubeS�npowermumppalitics to levy ad valorem takes a� equipment - - .,. ;.,ni� tera�biig$taoit9ebt 4. otor M of Fund —Fo purchases and maintenance of the automotive fleet. en � oelitautes- eCity�t�sesa o"lo ax�ontaeh urrhaseofelectrcit mctercd,c" p y�" ..as, bot:to u 'Funds annual v• td6calitottendeiegtaphtxs. itevc�t a service of approti,natc.y - Pry Shop -Fund—For-alll, ofthe- City's b printing needs. asic pri ing t _ fh partially .pledged ra5 "an add! �t�na; ��S�CVj{'BCflis.tiadtttoa, �s revenue sources y d't: Property Maintenance Fund For p or regular' building- maintenance, and a limited. amount of buildin l e l XtM_ 3e;�0ulf4:ncnts +or �e_�onvettUon Center -Garage Revenue Bonds; the Spc� ��; alterations and additions:" y �ot+dsner�es "11�8 - p n-:Authority's Subordinate tote t t lyS5.8 f b liCd tAountedttvap ill on n-1986. Exccss monies available si.zcr.. Procurement .Management —For centralized purchasing and supplies services_ _ ,general Fund. ��t'ise�at� �qutttitttalts �.evert � site , - - fii.#t.1Gi»dsnpeixy.wttts_abuuln ,certain ca ital- _ g p project improven�c.r,ts arc nsTrust.,- _ - Pension and , F s i ibtl tthe st�oFtudbiiinprbvctutnts tese tollecUons.are pledged to general obli,+ati;ns The City has Iwo separate pension. funds, -The City of Miamt: Fire Fighters' and Police Officers' - tbinEe eral obll attbn'bondptx�ccteds were originally used to Gnancc these improver, ts. Retirement Trust, (FIPO} (formerly chc "System' } and the City of Miami General Employees' and Sarti"tation. ititer{Irtse.lFAlndS Employees Retirement-Trust(GESE}' (formerly the "Plan"). The actuary for GESE is Compensation & "I ` �'ortdtesetl'utadsar�e ratnarai, cncratcd+b user YgY_ . Certain facilities are Capital, icago, Holcombe and Associates, Inc. Both. Iilinbis For FIPO, the actuary is StanCey;. ratty .a - ��. subsidizeri tenrrA fund And Ibiber AiscrCdonary-Funds. firms select an d independently' by the Boards" of Trustees Addition City selects awn _ � Additionally, the _ e nay Ilr,at ifies include." - i e ctu to determine the amount that the City will contribute to' GESE and. I; IPA. The Citv's a ary is Edward. ... -- - - -'- "' - -.-"- �bx fiaillnin-1 athat7'iY r' DOtball-games. H. Friend & Cof s .Higgins of Washington, D-.C. ' - - the stadium serves as "the-hclim"':w the tantlutltani�. e City Gates Settlement which settled litigation with the Pension In 1985, the pp g n Boards of - Imtttutn -11is baseball stadium is used For trainin b Baltimore __ Trustees.' As .provided by. the .Gates;Settlement; a "third actuary has been selected to resolve current" the g Y " base : Orioles Locoa b- lieta8tum,+�tidt is also Wised for t'Ock 'Concerts disagrecmcnts among _the' City and "Pension Boards" of Trustees" reEatcd to certain, actuarial" assumptions: discussion Gates. Settlement' and tither events. t3l�iutttVaraouS A detailed of the pension trusts; including the and the principal. actuarial �tt8s, aflnCCr�S slid IiauiiCai EVEnLs ;acre held :at"this "stadium. the ``FIIAICi,I ct to at Appendix •fit L assumptions c GESE and FIFO is contain in A: pen tx S ote l a reap . 'md udes teDirmer Key 'larana;<cuixcn trader oin �c anston and rcCurbis� tly. g p STA" - STATEMENTS-"' 11% tie us lbeing aaenovateci. ;��n: �p�a3=bus etae ..IS a io ng terari -lease with the ©range Bowl "CominittCc ,alit « iatitf6" tld v�a1-ra19ted t}uipment." r TOY Collection - Proceciur Fo "Levu and Tax" " : valuations Dade County. ` etwt) ty-o*1edad-opperat+edgoltcourses�areused Rea1'and personal property are determined each year as -of January' I "by the. -of Property. at I00%_of market value.- A notice is mailed to each owner indicating the car. noun- " by loco r,,��i Y d �" dC114 Assessor property caner has of the .property valuation. The property o s the to -fife an appeal with the Dade County Gtcr1F. "ate conui'toveithfintion Centt7 1S_ a lay Or1te Of "-10 hosts bitil bwliit 4* cal Board of Tax Adjustment ifsuch-property valuation as determined by the property appraiser is:inconsisten: " y tit fit exhibitors and �onveuboA �Cetl2er.. = ` _ I with that as. determined by the property owner All appeals of such valuation determinations are heard ...--" _ - icon vu meter is �CrRtDe by the Dade County Board of Equalization.. The "Board certifies the assessmentroll upon completion taf"; ter j`dfE pall"of a complex shared with the University tratch ` of , aimultt levEl the he1.aring-of-all appeals so "filed. -" arlan aange and a recently completed; w ©rl: �e saragE $$ All takes are due and avabte on November" I of each year or "a s soon thereafter as _the sssrssmene p 1 , itot�i�' CE'ariCmg :The"�' cPaMnent.ralns - ° roll _ is certified and, delivered to the Dade_ Cauntv Tax " Collector. The Dade County Tar CoI`ccto- mai'�� .. levied."Taxes"may be of, And: Five parking garages in the City as �v'yJ .t4 met dots;►%itii ata1 br to each taxpayer on the assessment roll a notice of the:ta�tes paid upon receipt "four ever 3 i',00' „ht11lt�e►fialda _ parking spaces:' g t- such notice, with discounts at the rate of percent if paid in the:mvnth "of iEiayembcr ehrce percent" " This F _ and accounts fort i err and ties. " nd 1Case if paid in the month of December, two rc nc if'paid in the mon h" of Ianuary and one perecttt r pa - e - - Of city=Owped. , r0'�" tt` " '•`. p `tal-Ater fp's kiA GA t T S aiSC� . t during the month of 4farchc are without in he month of February, Taxes paid based yea tax assessment _ itural .Let $: rrgE" This 1,1tl0 car garage serves the Government tom Iac_ V v oa for S' have the option of ayinc their taxes in equal quartert pa mc�is p P 4 h September discount p Center" alto .iz, with a sit percent discount"µ�ith. the June 30th" payment, four- percent with: t e - it - .. lase 1FtuAd :: - T cppeTanonsofilic�Gusm u11 it, Jis Fund, an'Ctnter for'tlie Performing ing Arts and the l�l}°m, to - payments two percent discount plus Drag half of any adjustments required to bring tax payments to cur.rc it year's tax .assessments. "discounted at. three percent with the December 3I paymcne -and no discount plus _ s ��t he March 31st payment. All unpaid tares on. real""and. personal property one-half of any such adjustment with h t r_ imp { tt _ ,.w,.r . ....:.:..:... : . F. �,. �.� .� F9gTbe�'rtaiit f?ctobsr The City .has y. levied a certified miIlage of, I _._sr.. miirs- for the fiscal year 1,986- gi g, - ., r.: `> 'r--..:. w" malls f r debt servtce TEe 1;=1986; consisting of 9:8400 milts and2.�#SF� e fal%wing - - ��' shows the to or :each of the Last tail completedscaf years. table e. levies and collections of the City_ f Y _ F .. :. Tax. Levies an d Collections . _ _ Fiscal Years. Ended September 30 :. Total! Delinquent �. - u �_ °' Total - Co coons 13a�eeg �.ty NfilIsgr -. - 4djus Coltecaom Out Tax ea- ofCurrentP of Percent of Tntab asPercentstanding : As Percent Levy -'' Year's Levy ,Delinquent Tax of Current; Delinquent -,of Current''Genervi Debt Callecdorts Levy Tapes f2F Levy -, Fund 5ervicr- m Year A11 Funds (11 . Taxes Collected Taxes ,:..:.�.-.,.. 1986:.. S1 09,938,000 SlOS.457.000 9S.92Po_ S 944,000. .5106,40i:000 96.7876 S3 tB4OOf3 3.02Tc 9.8•S7P 2:452- , "" 100 9g6,00 96 970,000 1 0SW , c 104.340 - S .L 1' e'.T-,� F . _ . .. - . - 19$4 000 33 T8 3 g4 9 . " fillilftsm_ .' 06E t 66fi . 9 1983 83,025 000 78,815,000 94:93, 1.209;0ppt3) .130;0�?Y 000'. 96.38 ',9?5,fXk7 3 �' ., - 1437 � 75;107.QW 97.66. 2,484,0(Xi 3 'x - S 947 - 1 '1' _. .. 1981 :: - . 72,6019.000 70,238.000 ` 96.79 7Q.725.000 47:39 *.027,000 2 79' _- 9.036 . 2.951 59,097,455 9691 1, 39:430 3,I3 FO.Of70 3.960 . _ � 1980.-:. 60,983,826 _-58,789,796 . 96.401 307,659 1979.-.. 58,389,375` .57,325,287- 98.18! 430,947 57,756.234 98.92 t:559 360 :-67 IQ..000 4.48:. =- -" _ •��,,a •" 1978... - 50,53.,016 49.095._63 97.Ib , , _513.373 49.618.636 9$:.19 3:195.969 6.32 t0:00- 3! 31 9.'92. r ?E1 r„- _ 1977.. 43.354;070- _42,969.232 97.98, 650.775 43.620.007- 99.d; '32.539 5.30 I) Includes levies for general operations and debt service. .. ; .... . for discounts and uncotlectabfe tax of approximatCl:y S°Io of total ta+t.levy.. . (2):Net of reserve eazly payment (3 )Scatting in fiscal 1985, current year's delinquent: tax- collections are included with collection of .year olle delinquent current year's taxes. For years prior to 1985, c coon of d I nquent taxes included both: current near . and prior year's de linquent.ta.,t collections: P -? Labor Relations �- The City Manager's Office has a profession a[ [oboe relations staff dedicated solely- to tabor negotiations �- and tabor contract administration. the international Association of efighters.(I A.E.F..h Local .-,. 587 he City has entered into contracts with . tion Employees Association (S.E.A.} and the Fraternal Order of Police (F_Q. .P:) Lodge 20�: contracts expire on September 3Q,_ 1987. The American Federation- of State, County and,Mutticipal . ese.con TThe�FS Employees (A,F S.C.M.E.) Local I9p7 has a contract that expires oli"Sept ember 8. - . - 'atca,�s: = 1, the third year. t a for for 1'imited number of Items,. including image increases _..._.. _ _ .. - _ .. . contract contains a reopener .. . - _. .._ contract. of=the existing c tact. . -. - -- - Risl. Management , - - w.-- -.-.. Y^1�.. = :_ - -- y`�`t'••ne. ac.�._ .+s ;dl- -.., -..-SST• r. yam' - _ - - - - .- - - - - - - - --- -- Amendment approved by the electorate in I971, allowing the City to set up a Self- _ .. :......W :.. -="- " ` 4 `" -= - --� Charter -was son c,. Ordinance. :a Band of Irtstc Insurance and Insurance Trust Full. The. City Commission reated:by = ' : d of the City. Lianagcr, the Director. of Finance, and the Insurance Manaeet to handle the security composed . - �. --- - _ -insurance Committee, appointed. by the City. Manage investments of the fund. Also created was a Self -I ura . to administer the Plan. :� w _- The City is self -insured Cor most casualty exposures with the exception.that cc by outside insc:-once - . 1 ceptable cotes. Purchased. poLcics include a broad, all-risk property pope:' is when it is available at ae secured insurance for. its CXpQSU, CS at the i tiaitti Convention CCnttr: ` •- y property,-ecneral_ liability and of the City, and fidclic bonds on all City cmptr yces.. _ ... Marina, all parks, pools_ playgrounds Dinner Key Marir life insurance and accidental death and dismemberment irrsur-anceare also commercial{y purchaseu. _ Group r Ar - I I I -- t11t eafi in AN the.wts, WCT't :P; � = :. " - T le �plBAfi 5`eat f llt�wing Y , . y i n 3 +►fi11 a certified millage of 12.2912 mills -for the fiscal year I986-1997 beginning October: w 7 he diJingi, cn= tz: ; w __ saldJamia �adrr Ct3unty a_ �lt}leit 4lflClis'efit�illlbICt�` y ., - r,r_ ; 1,.1986econsistastevied g .. _ ciir g S and 14512.mills for:debr service The folP idoUections . , :. .�, , , . .. tent y ear frorn ,,pril 1 until a _tar. silt r�r-.d,. -, .... w . -table shows the to levies. 0 d of the City for each of the last ten completed fiscal years_. d billy then t:r t>f tle cr rtificat• Y ili'l Mile ale iiltet�t Batt t`lllalie v Le ies arrtl Collections' . ,,lr* 'Sebedilles:.and :Tables . Fiscal al .Years Ended September all ig abfftiresti detailednrinatia►n pertaining io i?lcity's assessed aoY Qu(standing; - irtclanstld.ileli�y"rarestaac.assessmcnts Total Total Delinquent o Collections �3u� �tes, AdjustedCoilectlons Percent Collection `Iialllt` '181ta1�1e frti ell y llt�le t� OgCtller�Vith_TCal property value 23Sfs=.' - _. _');a l Tax of Current o[ of Total its- Percent standing .0 Percent City !►ti lage :- Fiscal Levy- _ - Year's Levy Delinquent Tax. or Current Delinquent or Current Cenerd -Debt I?JJaigli ,Tltfiljrldi, t�dtClfeJtlj�IOnSn 111etrtnl and CaCh of LE3e 1a52 tel( iC7Zii,�'e a� _ Year - All Funds (1) Tares Collected_ Taxes _Collections, Levy taxes ('-)L.evg Fund{ Service- bt~1t�sv. 1' i � .� O5: I986 ` S %, S3 3` 02% 57t 1 1985 104,t35;000 100,976.000 96.91 000 fl8SL 2.05Z. (31 �t01,b98,000 97 66 3.970,000 _ 3 3t 7 . ]lC9Cic9Et�1d�1e1f11 %1lXLble i'Joltdly _ 1984.. _ : 93,340,000 88,98_,000 95.33 3.036.OfX1 92,Ot8 000 98,58 3.367 000 3.6t 9.5SC € Y.5'.<4: Fisc�ll Near Forded Silitember 30 1983, : _ 93,025.000 78,815,000 94.93 _ 1,209,000 80.024,000- 96.34 2.9ZS,000- . 3:52 ►Cross Homestead ti.r 1982: --. 76,903,000 74,040.000 96:2 9 . 1.067,000 - 75.107,000 97.66 2 489;CS00 3.2 t S:9 T @.717 'ab�drty Ipatipaty. `J'utd- Exemptions T otaa 1981::. 72,619,000... 70,288.000 _ %.79 437,000 70 725.000 97.39 2,0271000 2..79 9.036 7-951 WO ld 205. 07. �0,1�i" >$i.933;OW $953,516,00059,2_ i 1980... ,8,26 58 ,789, 7,96, 06.40 307.659 59,097,455 96.91' 1.939,,430- 3t8 10.003.960 _ i979: 58,389,375 57;3.5,28793.18 430,947 57,756,234 98.92 1,554360 2.67 10.000 4.49, $38.198.Wo 9 '6%,f)J0;000__ 952;43©,000 8,744,i SC-,, _.;. 1978:,:.__ 50,532.016 : 49,095.263 _ 47.16 523.373 - _: 4�}.6t8.638 98: 19 . 3.I94.9197 6.32 t0.000 -1200 - i�. 4 5,7 $; 9, ,-031;i0. 954;979; 8 rat r ..� 9; ' ' ` 650 'S 43.620,007 ' 99:47 - _ 2.282.539 5.24 9.592 w:3,11 1977..: 43,854,070 42,969,�3� _ 97.-8 7�6fa6��29a1(i0: ±l2in 2;f100 _ �,659,_81,�000 2 920,895,000 .: -.. 985 82,t100 Z;962;729;1300 750;665;000 P =I I,- > __ (1) Indudes levies for general operations and, debt service: q��Syy�b/y (t+J .7J17;1'7�7\i(� - t3,g15„ 5;74% 0 W0 t,b22 365,i000 = 564,238,000 6,0;Y. ;2' .� :: _ et of reserve for early paym ['disc s and: true It ctable tax of approximn el., totaltax _ (2) N cn ount o e t approximately 5°4 of to ax levy. 781 �4,365,779,755 197,310 , - 311 ;87I : _ -4204361,422' 806;79 .'1605- - 4,227�175;027 196,708,,033- 4;Ld3£1,4 „a , _ (3) Starting in. fiscal year: 1985, current year's delinquent tie coElections are included with collection of 7 i1 i,23f 744,1794962 _ 4„6n 847,098 195,664,0 76 3i828,1 _ :.__ current year's taxes. For years prior to 1985f collection. of delinquent takes= included both: current year s7iD1 iaYll81,54,9i9 3,938;270 393 198, - fl _ l ' 55$,652 �., ' collections. and prior year's delinquent tax ,- _ _ . itiiisesstd valueofttal-prgpeny n fiscalyca 1981 is largely due to a cila-t£e- :.-1e hat Vt1DPCny be assessed :at,10007aof actual value Labor Relations - `cared "ons. Uble 1ist3 largest solely o Tabor ne�ot�a a edc t t1 _ The City Manager`s Q professional tabor relations staff � � sg She to taax-;assessments in -the City. of Miami. administration. and labor. contract admin 41 : e5t 4teai'44 east P y ssessments in the City, of hSiami, The City has entered into contracts with the International As of Firefighters (T.�l. F,F.)- Local . 1986 Auessed.Vataes -. 587, the Sanitation.Emplovees-Association (S:E.A.) and the Fraternal Order of Poiiee.(F.O.FJ Lodge 20- 9 American. - 'These contracts expire on Septcinber 30 1 $7. The .am � an: Federation- of State. Cooney and Municipal le►o'l'xop�D +�lotder Nature of Activity , . assessed t,uues . Employees (A.F.S.C.M.E.) Local 1907 has a contract that expires on September 30, 1987. The A.F.S_C:I�I:E. - tt<ultfi�t f3eli _ e or a limited number of items, including. wage increases for the third. year. -contract contains areopen r f - '3 �7tility S , 251. 880,326 : litheast i$atl1C.:. of the.existing,contract. 193�043;301 �i �bf' flew "1'�r1t - - .. . Office' $ug -ilding 186;667,35,. ll7ca iPower,�cs:;lt, Rill: tit anagemeR t 1Jii]it nab` e 1 ite;e�nociation y .. 1�5,240,336_ �DTfice Building A Charterby Amendment eras approved 971, allowing- the City -to set up a 5clf- _ 123:989 9S; giltapts Newspap paper R ur and Insu he vtCoinmission created, by Ordinance a Board° of Trustees. Ins ance ranee Trust Fund.'The 80;039J 6 i �andle ` �iSCCUritV scaaale "1-tiwer ce Buildm composed of =the City Ntanaecr; the Director of Finance and-th the _ ' theCity� g :. 62;979,562, . dert2tal :lrisntance rnp, Office liuildin .: - ommitteee appointed by Nfanancr n c C v so acatcd was a c saran c A in estments of the fund. l - ylati"ally g 61;337,_68;. Shops�Jote1 ; o a e thc Ptan. Ti , 59,765,_0_ --' 'Hospital 247 S_ ,43 996: _, The Cit y s self-irlsurcd- for most 'casualty exposures with the exceptron,that coverage by outside insur0rtcc S1;197,106.49S is secure when i is available ptablc rates Purchased policies include a broad. all-risk, property policv . v 1�1fl #icy Appraiser hp and Covering aiI City. prapert blecnecai liability insurance its exposures at the Miami Convention_ Center, City of ;Miami 1~inancc Department: D inn Ma the City, and fidelity bonds an.att City employees. cr Key rinaaan p dth _ ._. ,. Group life insuranced accidental c and di mlaveroun�mbcrment insurance are also -commercially purchased: 28 - _ - ?9_ - I - . Nietrorail The new $1.0 billion' 20.5 mile Metro Rapid Transit Systerrt became -, �. This systems contains 20 neighborhood transit stations spaced approaetret ' importance t0, Downtown development is the-fCcenttjl opened l� eero o city, people: mover, system connected to Metrocail.: Bayside The Rouse Company;a teadin builder of specialty marketplaces IU .., has -developed the Bayside Specialty Center on twenty acres off` City~a�vrte J in Downtown Miami -The project currently, features 23$,000 scl fi, 101 $l28 million,. with City participation firnited to a $4,milfiort, investment ti The Bayside Parking Garage,. located adjacent to the specialty COWcon a surface lot::. Bayfront Park BayfrontPark, adjacent to.the Bayside project aFear is, curreztcC� better cost of $22 million. Seventy percent ,of theproject financing hasbee sec of Federal, 'state and- private. funding. sources: Southeast OvertownfParkwest -The Southeast Qvertown/Park est Redcvel'opment Prograz etttait of prime real estate; adjacent to thecentral business district, or new r . k. The general-redevelopmene concept for the project area is ehe proww opportunities,; with. supporting .commereiat uses, to ser< c the, atW% tutn# . century the project area is _envisioned to hake the' capacity to'suP?Port over:, one minion. square feet of commerciat space_'�he City of Warmhay bed ' powers for the implementation of the.redevelopmenr plate..- Public seetQ acquisition;` resident relocation, deinoHtion,L project rnarltcting. infras u and; in some instances. the provision of `"gap*" finatncin t tscst ar ext investment ill occur during the neat 20 years. Phase J [atid ac ttQe4t%A new private construction is e�tpected taw cc)Mmcnce ort ups t t i s�B ee` of.1987:: Public infrastructure work, including utilities„ street irmmpro-4 _. now being designed for implementatiorttteconjunCtiorwitftltepvate►5- in Phase, i Redevelopment is over $30 million -Lew. privatt, consttuctto is programmed. to occur aver the nett si.�ears- Sports and =Exhibition. Centee .. The City of -Miami approved art ordinance, creating the l %a m Apo„ July 29 1983. Florida Statutes the creation - such am- th4��J County enacting an ordinance levying a 3%0 onWetttrorn evelopinent � .1 :thetax, proceeds: -must ofbeused to construct a multi-p4rpose`convM. major -components thereof,: within the City OF Miarnu _TheCtty"s share ..to be $3.044.0 million per year, This multipurpose sports and cntertaiamcnt arena„ currently urtdc , Dccoma Venture. The arena will contain appro!tirttaCeLy 30f�„OQO�grossst;tt a( 16,590,: The targeted dace tot ehe opening of the Arcna is Slang 0 a w, S-S-2 4 A-;1 ti . ....... till Ing d NletTorail . ..... . in A064-1985- lly, operational isl lirm, -Transit System became fu, :The�ncw $1.0 billion, 20.5 mile Metro Rapid l 5, miles- apart- -Of major proximately 7' ns sp contains s borhoOd transit statio aced ap �nt at - ail _71U in 20 neigh McIver, This systems an-clevated I _9, mite cL tl opened letro A e. to Downtown donne piOP .: `.- � importanc& ctcd to Metrorail- m- Cit , people moveSsem V ROM- conficicn-aa: zrnpi 2 Bayside nto ry waterfront settings, s kctplace in dow w er,of specialty mar rLy alon_% LU C The Rouse- Company., a leading build the waterfront cnty, acres of City-owncd Propc an;�t CentCr on tw *d health mmnlenw I pcd the Baysidc Specialty . Is has dieve 0 ail space- Total project cost 235,000 sq-1 ft, of retail ject currently features Inal In town� Miami. The pro provementS. Insurance Claims Down millio n . n investment in i frastructure im to a. $4 articipation.limited spaces and on with City 100 parking S128 million, o th specialty center, contains 112 a y side Parking Garage, located adjacent- L i an a- s s The B a g z urfacc lot. Assoc;au s a T those j)argalm-' LZ'; Bayfront Park ojecr eveloPed at 1 total.-pr thm so currently being red XW15AS t area, is curr n Park adjacent cent to the Baysi t%,�oWbU10=9 - -. dc.projec 1�. . Bziyfront -City through a variety _Unl�,,,=np cIyt--t VF llmll:e"� in ed bv th t. financing has been secur 'IU rl- r,��v �3�w� -:cost million. Seventy percent of the projec trial w. cr', 1-1- ,� , - AD 4 . of.S22 d private funding sources. state an of'F dcral /Parkwest Southeast Overtown ment of 20& acres C DAT 41�clOpm Program entails the redevelop HI ant ctivity The Southeast Overtown/Parkwest Rcdev m -cial a' to d forncw:he central busim real estate, adjacent to Lncss district, rangeof housing of--pri e e provision� 0ect area is th fwide cpt, for the proj� J he end of the !I h, U e =20=710= The general redevelopment concept. to-scrve the area's future'poP tation. 13Y t al uses, ntial units and over opportunitiest with supporting commerci over 9,000 reside pport 0 r tomist --ane 7--mai ed to have the capacity to su the project area is envision d' cizated limited redevelopment IoTla4 t) y US171C; - t ccntur City of Miami has been cl 2=1 bank 11 r_ 11112=121 erc. The LY ill focus- f t of comm ial space on land 4 one million square cc nt plan. Public -sector involvement w f the redeveloPtr1c implementation o and construction powers for the ketinc, infrastructUrc improvements ion, •pro3ect mar =1. pnvaLe clocation, demol.it estimated. that over SLO billion in 40� zweiriowim -thc ami 1p sition, resident r it is ti acquisition, I f "p-ap" financing. the provision o z 3=_9 frc.-A. A Z== tn,-,6TJ ac-.M It; i-iou zn a and, in some instances, land acquisition is ncarin-, completion and the firs', Phase -1 la P111 parcels by the en vxi i occur during the n t 20 cars d CIX Y "rht VtT,- zC;M=qT Men I Orl T development parC 71WO I Cstment will occ to five se arate i� 11cs inv C n up P peeled to commence 0 pcdc cnitics, is 0 tbt. I private construction is exp ts and strian am -twst!:Xftn Z,Yte t�; -tht, Vear 200" new primprovcmcn .ut.ilities. Street Total. public investment Public infrastructure work. including of 1987. with the private development for implementation in conjunction w now being designed 'ew private construction in the amo - unt of $.150 million mall wa, c_Drn*,Ac- WnI VC 39,F.4 An I is over 530 million ha ed velopnien, i Phase LR _1W:;, WIMM=1 to the 211r. M7-min ZL0 1 :7,-. n years. occur over the ncxtsix, programmed to is pr 7 Ivl a m on =Vr-MsqW2_ and a Sot- v-1 V=ngV.-Ptt, atms. -continues,lo 3CCDTrTnr)G__,', Sports and Exhibition Cantt�ye Exhibi1joIiami Sports and' nT CC M=7hi;:PM=r.' ZV I.A.: i ilt CMU0 -d-m-nim c -an ordiance creating the N-liami pp -as zi- C recedent to Me itv f IN.ondidori P,The C 0f uch, an Authoritv. cation 0 s - C;t7v's Share cqUJrC the c 1983- Florida Sta.tutcs pm t. Tax on hotel rooms, The 28 0 v Cn idon cenLer.0- V -att4 Tnaior July e yinZ a 307��C n. crition Develo cmion/coliscumt_-,chib County enacting an ordinance -purpose conv I multi ecds is exPc`cd Mil i0r, must be used to construc, a ds m f these- taX PrOc of the tax proceeds Qt Imm. L hereof. wit1iin the Citv of Miam i �The Ci'Y's share 0 components t major in numi��_ housinr tmit�,, million per near. to be $3.0-$4.0 astr being built bv_ nt arena. cutr tertamme cni!y. under co nacir� Sports and en ing-ca, and !lave a sza, "*a Downtown U.tioTj, This multipurposemanly 300,000 arocs square ft, x appro. hearen willcontwn a i Spring 1988. S1721-.7 Dccorn nture. T s aVc 11 o ening f the-ar n -16,5 00. The tarQctcd date for �41, F-jq'sc rz of Int" wt, 31 II 2 �` II li ;rttlZaSC' ht�?2nSSU{S �1 ,,i ,� =.za;nec commercial and industrial lab forte .�.:?��.` Li.L 1 . f ,.. t..11iaia („�i l i,1, 'a:.. - - - - i arc r e :t base Pf the area to expand by attracttn& re ransF , .a:.c,^ ts4.:;. _ -,: ; Latin .� merica. In Greater M r a iamt,over ins.in ne them are such"corporations as 1t,L.0 s Corporation, American Hospital Supply l a, a subsiaiare of Rohm &Haas Company Wn an in car office locations "in Greater Miami ,'. ,.. :i;,_-national Harvcstcr,_::Johns M - dEr Export, and UniteF e.3 Royal rul_t. bi industriai building space Manufacturing companies" occupying an additional K - ii companies occupy the bulk of he o..s that approximately two-thirds 37 industrial parks in Greater �tmprimarily made up , , 77" , :,' 40,000 "jobs are provided_ -by. -nearly �,. ..,. _ _ Rrn.:..,,4 -t ,_:x;creA in the Miami area; shipped5849 !n he.nation.- Over250 design related c ::le 1oc31 economy. More than5l0 :he Miami Design Plaia, located on, _ �^ '�+, a- ...,. :ec tsat:aPproximatelp 511 million more NIL. t,Ons .. -,;, ^ _ _,.: �_ r _ =� :'h 51 foreign- banks operating in the { ye4::o- E :l.. a. nosed to theMiami area.:Theseinc lude S Ban'tkers Trust International, Baneo ,H u} C U ,, ernanonal. Ir}in "Trust, Chemical;Bank 2:. -r-, ,.a.C,A drat z _.-z,r.- . a- �i �4a^, t uarant} International. The"Fed 3" ^.' y ern nC SSlbsldlai?' " ^e .: 4. to or•en �:it.,ationa1 banki a c, ant' office in Dade County to asset { L, _ y L II , There are local banks in Dade County which toect er have a. totat o€ S'2i.3 bilFoivirr deposits h c ti�riea ia; any :: u; .- µ _ :.. ten year sunimart' is. presented below.. ase;of the area to cx K . Bank Deposits tt e"i ap'ss ons.Amon�'; on; �, ... _ Im �;D-ate , n _, .;,a �f 1t _ � - o.t3 i':t it - t Year � Banks 7ota1� sits Etcpo. _ �. jlitw, a siibsidia.-y . . 1986..... ............ $23 807-132,000 or a p _73 198"5 .:... 7Es \ 21,.800,OOE%.t)00 f _ (t, Iritiiiiationa� r3a. Csti^ , 1984 .atm Ame�a Royal xpon. an z _ .: '0 16,158,326,009 1982 ....... - .. 65 13,486,248.000 _ 1981 °.. 65 " 9,234,540,000 _ - 1980.. 63 9",34I,69I\,00t) irdrt tofindus iai building s^ Isar_ ,�34 - 'Y� - Gvace*jib 1979 .. 7I 7,982,108.000 lb�,Laff of be Storage'companies _ \occ::^� 1478 7,Q .2,Q00 7 .,per -. - -. - Lion and sea�ztt- �In anies _ 19T , 98 6,48I ,146;QQ0 _ - .. _ , t lit f�i>z in It, irount3 repo, .S i,'iai a Fi, u ' yj11)kj 3of -DaIIe pP} Source: U.S:.Comptrolle. of 'the Currency. " ~A ri�l:'.a vnr"3a: ie=s. fir:► a-e ru: } ently 27. :td�:t a y - - 1) The Information " r c opoIi[an Dade Count as a whale w n P " bleb, includes the City of �ltami T esented is fbr �1, \tr gate chartered.. non- _ The figures"include\ national and state chartered banks thatareF.D-1 C. insured; s� q national tiir�iatio7i\.14;ia-ni'.,ma.i,e.'is --L - tius'�s:'�i"xbria<e�stm: ,�.i_:.- - red banks are, inctuded_, >' insured, x " a few" argz aiitm3. Roughly 30.{)00 jabs are (2)" \ Decline in number of banks" is. attributable to .change in Florida`s banking laws to allow for branch - t %; most�fii^'I ale\cenzerI.in the ?�iia:iii a-e. _ _ banking. Some of these branches were separate banks prior to the change. in "tile" lativ. \ itdoWm in 19W, 4526lift -mcrease .over 1:970 figures, - - me �.- he � � �nteritrdesign centers- in the nation. G� er _ _ v Tourism - tooX=Uary obs:�d" trate.1250 million iina_ the local economIN '� � 1 y Greater Miami at�yays has" been a vc ti attractive area for domestic and international tourists. Its cli mate \ " . < _- - - .._ - - - - I.�si7a as.,Mkcn plak,an irePas' s�$a;s_at Lhe,Mia:ni Desizn PIaz_- , , : .: v - _ - - - - N and beaches draw many thousands of visitors throughout the year. Local government and private interests = rfiv , a !#sll�ck etaidtos+�i 4�'lia.�ni "lam is abaci d Fiat\a -� ,.y ' ' P pprox. rate. ti S :: _'e perated.in-deveto in -developing outstanding a�traetigns and events which include power boat races attiartit" have coo P g " ' "att ZhPtsict •i s3ic immediate future. _\ Marine Stadium ; the Orange Bowl Classic; the Seaquarium, Planet Oeean, Parrot Jungle, I�t\onkey Tungl.e, e Jai Ala the Vizca" a Palace the Orchid-J ete, do and hX"etrozoo. Other\ points nue fessiona of interest�a nd activities nctudc tours cif c Evergisdes and_the Florida lieys,.major teams pro attractions as the Graphics Fair,_ International Folk Festival.. sports events, and annual att s:"such - Youth Fair. Gr .�ii211"int..+ Imi al.fimancia. center with 5i foreign ba'iks o �� µ . 3 ._ Bowl t�tarathon.. Cattc Qeno Open House, Carnayal ?��fiami, Coconut Grove Art Festival, KwanzaA04:.. Orange _ i07 ge ►rzJ3aank3 that,haveTrloved t0 zl'te i\li'aTt area. T= _ .: °': - �: - Festivals,. Hispanic Heritage Week, Little River OktobCrfeSC and the OCan�e I3otul festival \ and Goombay F vzlal, smikbI2pt=Jnternatioiia;'South Bankers-Trvst Inter:,atio z :, '•w-._ c. \ events. 19C3iattt�'tb$t, C'�i8bi' �1tl�t ;� t � _ " l, :." _ nxrrnaiional, Citibank International, ;lrvins Trus.. C�c , -\ _ Jatiufacairers aFio� ;. 1ltettiatianal, . - aenrun _ __ L a. s :tide:. jinn19ai 8+ and "?�9organ.Gua.-ante iaternattoaai_ Til u' " \ d 1 ': t,�adaptedm 1919,Permitted ban�sao open drivers frotmaartound hcwc?ridt mpeted4forCmornthan S300i000an"proize monc mternationas banl�i^t dal - sesveaysietn has .located a branch office in Dade Cos : • _: _ During 1986, approximately 6,2 million out-of-staLe visitors stayed in over �6,990 bete: and"mptc: rooms maticia�" ztantactits in the South,"£3tMda arcs. 1 Le" i de -act IVILICS su& as - fl t4'CTtC't1ns in Greater Miami \Many of theS rS parLlCi C\ vt SICa � 3ntC 4t b and conferences. Touris is and_tlst.ors expende d Ove bittiati t eaL.r` lia[ri: IiT\ i986. accord'- Y to Dade County estimates. Medical: Facilities" - - The.41 hospitals"'i cater�t;ami offer �-irtualC all \general and highly specialized medical - services. "This progress e andterewing healtit care delivery syste pravidcs educational opportunity far" -" - c onal and places Miami it1 Lttc farcfran!'of communities tvlLlx eorripretiet}sine rfat,c i i] the -he ILh are professi - and in[ernationat,medical capabititics. " -.- _, 3? 3, _ over 70,000 students are enrolled in- the following colleges' and un%. Barry" University Flo rida-tnternatitinal University . Florida memorial College International- Fine Arts College Miami Christian College: Miami -Daft CoEttrponiW CQWCV� St., Thomas. UnWersity University of Miarn " Film Industry Film production: in South Florida is third in national ranking; (0 and reached an a1L_time high in 1985;: according -to figures rereas lay thrr titotion Picture and Television. Bureau- Stamand local; of tcrats; eseimat Florida's film business is conducted in South Flonda,fDadC and, Browarc totals" for Florida were 5175 million. of which $80^ million was sgerer Agriculture The land area of Greater Nliam incldde large agricultural exransea cir tomatoes, and pole beans are'grown for the fresh produce mark0- M : months; the mild climate enables these crops; to be grown and harvester-: l� to the northern United States during the winter. Ekotio tropicals Erin suc p sugar. apples and Persian Limes: grow intfie area and candor be geawt4 p Export Mort than fifty-five percent ofFtorides foreign Eradie "whichl'. -Department's 1986, figures totalled in excess of S'..Zbillion, frown elz� Further stimulation in, the investment climate teas resiileed I?rorns` Ca ribbean Basin initiative program.: designed to. boost the econonxiesi and the. Caribbean _islands; he new- law, which grants duEy, Fr 9n produced in: the region is also, ex to bring greater econotrite U4 Trade. offices. have been established. in. Booths -Florida. bar scvei c� affairs conducted bythe-3-7 foreignconsutate located in theNtiainrar established by Belgium; Chiles Colombia,, the bominicact"Republic,: Goat Panama, Spain: and the Philippines. =a 141iaini; International Airport Nletropo[itan .Dade County is the- owner 'off five.- separatt TCOMP esponsihilities for: their operation are. assigneEf to= the Dade International Airport ranks Sth in thenation and loth the°world inr 1 facilities. "II ranks aEh in.the nation and SEhr itu the world itn the maven air cargo - During "1986,: airport services' wCM provided to+ ovee l9t�lliQn d4� passengers. The airlines serving the Miami Intcrtiationat Atupott grm�� d for importers and- exporters II I i - .i aYproximately two million z.e. ing,e=. 3,000 individua3s are - LV, of_car^o. The last �. Y6unds 00 009 I, - _., f,; '�1s:� �; b� he Dade CountySeapo rt a e. , �' = from 978,016 Pincreased ort as -the r e_mereence - -' ag co epis. The most nc ] u an ze poA t the nation's leadin, in eased from over f.om �'� acres to 600 acres . v9iami _ �ti _ _ >. �: s _ ., f shippers, bud ers importers, �h _.. r - c� r` _ h the Port. ,hrouc < busiliess ` .. _ n , i�ns of car4o:..A,summarN' below: ^a resented 4 Cargo (Tonns. �t t`A an Y C tl tv V 305,645 � r 665.921 - 1 32 r -29 S64. �' 4 T ECG w w Imo._.- Housing .. - � _ :ram '=:.,.x = • � . - The U.S. Census figures or 1980 s ow th median v of owner occupied housing as � 47,517 f h at the value K, ., - a is an increase of 171%-of-the median value of SI7,500 per owner occupied.ilousin� as oc�tlined'irt. - the' 1970 entables I� e following dctacl the charactensac of housing by units irr the City of Miami and dadrCounty. rat '-------- - Dsdt _� 'nibs " Va[ues of. Owner Occupied, Non-CondoRtinium: E�'o[tsing F� I z; 3 Y1 - , ... °. - -11y11980 — •—r 't - . +-� a �_ i� Percen[nt:e Dade'. . -Percentage lrio '�'� Less than $?5 Q00 ........ . $ 3,690 I I aia- $ I: ; ISb 6% 9 54 �4 - - ' ,..a _: •. '_ r 1ii0 33 -r;- 6, i9 3g,97$ 40;000-49,999 326 17 - _ R .,Y 1� $ - - .. , I,1 5 0 7 99 . 11 0 33 . .- ♦»...ter♦ 9.,354 _ - � - 0 q 1,684- 5 � 8 0,00 9,9 ♦•• . •.... - " ,. ..w ; ,y •• 1 1Q s 1 _ � - o er_ 34,653 100,000 and--•`�6� 7 15 ..-. ..... .. a VieTotal .�;I= 59, - 33,457 100�u 2Yx,865 160a10 Value ....... Median Va r 4 _ - 6Q s ensus of the Po 1 0 Source: 1980 U:S C pu atian and. H usine.. �_-- - 12 Occupied Housing h7 Tenure 1070 Percentage I98[F Percentage and 43,158 36�'a 45,.73$ 340to _'- O�,_ ner ,O ccupi d;. ........... _ e i'I+at.R�tCs _ 5 88f3Q8 66 77,�3 64 Renter Occupied . . — .. -- - Asattai �.�ra.ge a " 393 OQ�io 134 0 ltl(1°i .. ......... .. — Total. I�Q' 1 � — �9ea o the Population, and. Housing. - -6. ze DeVa—=- rxT labor BU4-(2u of Labo 39 y, - ... arm'• - ! i r. i o NEW 'Eti> APPROVAL OF OFFICIAL: smk EX - �- -ts�°"" - - :The references, excerpts and summaries of all documents rcFcrrcd to herein- do not purport is be cottiplete refof ,. _ the -provisions f rctcrc. directed to atI= such docutietits.fot Eutt. and statements_' o such documents *Tee i thesecurity forth payment . - and complete statements of all matters of fact relating to rheSeries 1987 Bonds,. p of the Series .I98 onds and th e rights and obli;stions c,1 the hoEdcrs tiiercof. Copies of such: documents_ r rive Miami Fr6ridn s.i 03i City' Director 35i}�.isanmer.can Drive, be from the of=Finance at . Pa ' _ _ hone number. ,0�) �79-6350, or from the Financial ,advisor: James J_ Lowrey &-Co: Incorporated. (" telc .' + . 1 80 Maiden Lane, Ncsv York, New Nork-10038, telephone number (212) 363-'flQt3. ►�� frciaCState-nent lTas b cc*T �:ompited. from officiaC and other'sourccs The information contained in this f3f � 1. a : � deemed to ;be reliable, and is believed to be correct as 6f this date, but is not guaranteed as: to accuracy i .tt`� or- completeness by, and :is not _to be construed -as a representationby the Financialdvis4r Or the f at Underwriter. t _ "'.;#� statement made in this Official;Statemcnt involLing natters of: opinion or of estimates,. whetherji= - - Any ,' * ar not so;e•cpressty.sta ed, are set forth as such -and not as representations of fact, and no, rcprese rtatian. is made that any of the estimates wilt be realized: Thei rformstion and cxpressians-of opinion herein are c subject to change without notice and neither -the delivery of this Official Statement nor any ;ate made �. . t � c .o at there he p been no change ire the affairs here shall, under any circumstances,.c a e any -m li at' nth h rchas e o the „City since the date hereof. I0" ..'. r '� "been duN authorized by The ecutt t is .. at t the Commission of the City o1', ex 'on of h- Ot fic�al Sta t�nc tia mi. Miami, Florida. .Etch Tltc City of �'I- mi Ur Sr Gay t I 40 i I i .. r .... cam_ -_... a... ..� ... - .. _.., .- . _ __ .•• -- ... . .- . - �-_-; ...i. _. •: ;-- _ _ -' _ `•__•-.tint:'!,.:::-:'.':,..t-..- :' _ _ .- - _ - -- _ _ -_ _ _ __ -_ _ _ - _ - r .CITY OF�II•�N „. FINANCIAL S CT ON OF THE COhtPREHEVSIYE ,��. LA FINANCIAL REPORT " For the Fisc cat Ended September 10rV)S TABLE OF CONTENTS = _.. xhibio -.,... , . FINANCIAL SECTION Report'of Independent Cer tified`Pub! ic .-kccoun Financial Statements General Purpose Fin ' l'St : - Combined III:,Eu Combined Balance Sheet Fund Types - — _ - n .. - and Accou t Groups .- ... _ .. i Combined Statement of Revenues, es, Expenditures: and Chances in Fund . _ _AllBalances Goverrmenta[ Fund- _ --. - Types and Expendable Trust Funds..,:. . .......:.... . .:..... . .. II Statement of Revenues, Expenditures ' ' - and in Fund Balance s—Budeet,- � u�es Fund, Special Revenue General' Fu Funds. e Funds ..... ........ ..... and Debt Servic Ifi :._ Combined Statement of revenues E Expenses and Chanties in Fund, - Fund es Proprietary Equity lu Tees and Pens on Trust Funds .- ...:... .......:. IG ._- Combined Statement of Changes in - Financial Position All _. _ Proprietary Fund Ty pes ,.. - and Pension Trust Fun Notes:to Financial Statement ,.. ji z No 1 _ _ -iExhibiV _Zle - T III '-:�i►t,".� _ ' r Coo e s - CEtittaef! pupliC,3Ct iu Tar+tS pp j Lb :& y rand__ The Honorable Mayor and City Commissioners City of Miami,. Florida ._ We have examined:the general. purpose financial: analysisane arenotfa statements of the City of. Miami, Florida.as, of and for the posh financial`; stateme year ended September 30:_ 1986 as listed: in the forego- ' The information in tt► ngTable ofContents. Our exam inabonwasmadeinac- statemenEs:arrehsche. - cordance with generally accepted. auditing standards auditingpreocetfclrea and; accordingly, included such. tests of the accounting generat piirpase frrrap records and such other auditing procedures as we- con- -circumstances. inn, is faint} stated°► a -,,the general= parp°sw sidered necessary -in the In our opinion, the general purpose financiatstate- P. whole.. ments,referred to above present fairly the.financial' po- Certain 1,9 data. sition of the City_ of Miami, Florida. at September' 30. financiaG staternea 1986 and the results of. its operations andthe changes irt' _ mentary informah4rt , 'financial position of, its- proprietary fund,types, and peerw Sion trust funds for the year then ended, In conformity prehenswe` annuak ftn September X with. genera accounting -principles, applied "_ g puEposes� ontl . on a basis consistent with that of the preceding year: on Our examination was made for the purpose of form- ing an -opinion on the general purpose.financial state- ments taken as a whole.=The combining and individual' fund statements And schedules listed in the .Table of Ilarpi,Ic�ridai Contents .are. presented for purposes of additional . January g t9$ ; III- ., ^- - - .:' . - . - _. . _ - -. . - - .: , . - -,r . - -- - - Tj. " - .. - _ _ .. -.. - .. i "il,- s: - - ,. m L ' -. a '_ " - - - - - .' - - - _- .' -. - 1. - - - - - - - -- _ - _ ', _ - *_� - .- --.- -E... -- - -. _ - - - - - -- _ Y - - .- . - - .. . - , - - - -, .. - a _ - _ - - -. _ - - ,r - _ -. ' r - - - .. _ -. - 11 _ y -: - - - - -� - - - - - _ - r . '.: -' - .4- . -• -- :.,:. - - ,,, •- - - - -- �' -t _ - _ tr, _ - - - -. _ r - ' - _ f - - _ - - - _ _ .; r ., �l - - -_ : t - - I . - 1. � - -11 .. � . - I I I - - x I � I - I � - � - I - � - - - � .. - -,- - , - -, - ` " ,,-,,,-,, � � . . - - ,-�`,- I . 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Tu g 3 a �- A y;. �f3LL,....�R-.' .C'+:iU7tNE.tLi,C}- MO- N . _- - - - - - -- - � - , .. 1.n. > a annnr�-a - - -_ - - .- _, . .,, - . � , _ - - -- ! 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FLORIDA . "EXPENSES AND_CHANGES IN FUND EOUITY ..- _ iNED 'STATEMENT OF -REV NU£S AND PENSION TRUST FUNDS , - CflrA.B FUNfl'TYP£S ALL,p}�flpRi£TARY , . SEPTEISER 30; 1986 -. YEA"R =ENflED ". - -- - - . ,- � Cnrietary-Fund Types " . . . - Totals'= _, - " - - internal, Pension" _Wetnorattdutn - . - erQrise Service _ Trust I -. 1986 I. _ _ - - I S 31 S a52 , -.$ - ,.. 24.270 90 " 24.270.690 2( _ :2 369.Qo5 12.069.065 - .. _ _ _ . «_ .: 29.2-2.379 -. - I 29,242,379.. , ::J� _._ - _ -. - -. 22 822.16Q 22.822 764 �*:: ' 21 — - -- - , _, - - _. _ __. _... .-`= - 18.»f3».898 - 119.452,450 10 _ - »9 oar, - 14_; 7 301 _ 1; - - . .. _- 6, 7.070 -- ;: - -- - -� • 1.' F' _ 31445.1 93 . _ . _ . .. . 27.66 - - ?3t 224 231,224 ,": r2 : _ 2.935.200 . . — 89s,1% -. - _ 2.132 old - _ ,.. - _ - - -.:6-=3.2 F t 541736,548. " =: _.. .., - -, _ . .. _.ri" 's -- :6c7 fri.71a.902 _ ; C _ 6,3M,744 . - _ c3 - c"8 58.327.158 41 �-7' _ _ . _ - � - . � 2.608,965 - _ - r r .,875?5 ) - _ i26." . - - -- _ -_ -,_... ,. -.:. - . . - - t5.139 %61:.''_i. - _ . _ _ _ _ - . _ _ _ - _ - _a 53,181172 _-- . -- - _ - - _ : r ,Os2 375 . - _ (1_5541271 .11 -_ „ _ .. " . . _ . - _ - �,483248 :: - - _.. _ _ _ - - -..- -. - -- _ - . .. - - - i2.568.7241`. - _ -_ _ _ ..- -6 ; 50" a6:101690 . ; : _„ . . - - _ _,.- -S- -; - - 2-:P13,--3 : ; . - . - - -_ _ r5 - 3S0 610- = —------. _ - __ - m_ _ - .. . _ . -I _ - ., . 1. rs864a.: , o _- 4}_ ..... _ _ _ . 310519; ,_ . - . _. a, av ^' . « -. - .. - - - - - - - - - - - -. - - _ - - _. - - r x» '"^ 6_a Irv. 5--).322.228 ' 1= _ '.. .. - - f - -- _ . .. - - _ .. _ - - - - . _ - . ..- - - •- - .. . - - - - - -: - - - -. - - - . - - - - _ _ -. - - ;. - - _ _ - - . .} _ - _ - - _ T: " A- - . � � , . I � � � I � - I � � - � � by d � I � s. - rolFrc�4 �.' !- ..v. - .-=. t: -.4- - - .,.v ..x ,..... .....+.... - - - r a CE11R "fly MiM � EEOtIEI COMBINEDE STA EMEIKT 0FC1fAK6E I 1 Plt+6/AN `tALt P" " ALL:PRflPRI AE�1R FUND_ ERES./ N91 PE 10" 'iR „ `EEA R ENDED SE�� MEIEW 3l I _ .. -° ERcprte Eund�lF�tpess" -.: inteirna8 . Rs " .. _ _ r Enteeprise° ` : . 5efvtcw ' > provided by :., ,:" - r'r'orning.capitat operations:,. .. _ (loss) before extraordinary item . ` 514596331 S(4i631"631r 7 - income items not requiring current outlays of workingcapitai. " _ 2 7,86a Depreciation and amorUzatiort property, plant and equipment tQ dgS f32-. _ - LOSS on dispositions of - b - re- extraordinary item - 3,6Q5.794 :(2:45%4291` 6�76 total provided by operation s - Extraordinary item.- toss on debt {2,568:7?41' " .. refinancing [Note 81' - . - -— . ;: -. - -. - - -- 1.037 070 i2". t562sa" 63 7 Total rovided by operations_ p - " t3tner.. -_ ". .- _ '_ Decrease tincrease) in restricted accounts _ (37T.5•t81 r0j3059 - 46,tf16 " , Contributions and equity"transfers net - 16275.000 A R Proceeds"from long-term debt, _ I585 _ increase in other tiabilities - - -- 17.953166 f2.4.t3 7231 6`. Total - - I. ,dr~.rxang,capitat applied,- u� ment:net Adddions of property• giant.and eq P 3,995232 825,593 t3;652,000, . - PeducUan of revenue bonds payable; net "" 309;5!!0 - _ increase in bond discount 332338" - " Decrease in other liabilities - -93 - - - increase ttt other assets; net - : . 181382875 _" 625,523�. — _ - : Total - - - - - ._._----= S(429,J09Y I S(3 039;24G1- _I- ;ncrease in working capital —_ of increases (decreases). in working capita,. S(332,817)i "" S(3,278.773k "Sun�rnary C, and investments _ - - - __ -' - Pension investments " 272804 Accounts_ receivable.' net" ,- - -"" 581.285,. - Due from other -funds' Due trorrr otheFgovernments 257,255 99t6781 (Sff.8421_ ,_ , ' nventories Prepaid expenses -. - (9&995i" ' (at)i0941 .° 339 205 - Accounts payable and accruert expenses _" (416.665) Due.to other funds, .. " " (360;8 : -r Deposits refundable > - - - Payable for.secunties purchased - 37.2t8 Deterred revenue -" - , - . _ - 709 2461! S6f St - i Sl3; 039= - .i,7crease_in working capital - - _ - See accompanying not es to hnancral statements _ -, � -- -. - - -. - .- --.-- - - _._ __ - _ - - :' - - i. .. _ ,_ ... .... THE , FINANCtAL STATEMENTS, SeoW mber,30 1. a 1. GENERAL. DESCRIPTION A Einaeeral'Aepkortti The City, of Miami City): in.the"County of Dade;" . For f�etar�el ro -(the was incorporated in.1896, and comprisesapproxirnalot . tMose�fpnctazacca`; 34 square miles of land and 20square mitesQfwiater. The " - missions Ltd! . City"operates under_the Commission, City Manager form "- troEtet#f ttyf,ixtr de[ . of government and provides the- following se�iices: as depencteneeQn�ebr authorized by" its: charter_ public'_safety,.pubtic works recreation, andcommunitydevel- such, faotnI ask outstanctirigl rte -: solid waste; parks -and - opment: Dade_County (the County.} is a separate gauern- abligat<a�ns ofl tt► . any deiett mental. entity artd.=; its. "financial.- statements' are not stance nifigan.S44St dil i` included in this report_' i The Florida Legislature, In 1955 approved- and sutr brieik reviews ctfa e i. mitted to a general eiection;. aconstituponalari►endmenE addressed_? Ecr cte Cit}kt. -agive a' new .form of government to the designed to- County: The County is, in effect,;municipalit°wittr.gav` �1"Ca�efud - ernmental powers effective uport twenty,severt cities . " .: _ Eltawntrawa E%IeC and unincorporated areas, includingthe,City of Miami. It i go�rer,ned b� a has hot displaced: or replaced. the cities, but supplements rrtisstor�,: heCQ them: The County can. take over particular- activities, of tevie€# q ttte s�I the C`ity's operations (1).`if the services fait below mini- funckDQA:DgIA " mum "standards set,. by-. the County. Commission,`or (2)< " ingi ertttt asp . with the consent. of the governing body of then Ctty lrtceptiaa Since its inception,, Metropolitan ❑ade County WfamkSPQWW " Government" has .assumed responsibiltty or "a_ county MS AIM oteap: wide service bases for a numberof,functions, including spq �e�Apil,ttrct r g county -wide police"services, "supplerrtentin the a►unici u systerrtoffireproteetkon,.shita4- CitY's Portion"a�ff; -pal police_ service; uniform. plementing:;the"municipal.. fire pjotection; consolidated bQarc lite�rtbet .. two-tier court system; corisolidation_of watea and sewer vaeioussurface.transpart andk opera ng MS`hvez,oe_. i s `coa�dina tion of the sery ce , Pion programs; "tnstaltatioa of a: centraC traffic: contcat =. ". since kt incePtlri computer system;:merging all Pub�ictransportatiorrsys� `effect►ng a combined 'public :: Qepart nif 4f� DOSP is?.ara age: terns into: a county system library system; °and:centratization of.,the. property ap whiEftowinsaoij praiser and_tax col lector' functions Cityp �h C'tt)rc 2:.". SUMMARY OF SIGNIMANt AGGOUI�TING eorcfirr nevus nij B©a dQ to to l POLICIES AND REPORTING PRAG1flCES:. parl�trtgf servtc�e The financial statements of-the'_City have been pce- - e tedi accounting cc p 4udgeE, arts#.; pared in accordancewith g enerally-a - (GAAP)`as applied; to,governmental unitslte . bqutcfs Ttte±D ask a estteieptsej principles Governmental Accounting Standards Board (SSW is accounting The GttyR; hOW : the' standard-sett'►ng body for governmental The GASB, upon assucurkng tfte and financial -reporting. -The - 6aardt:ta adrBtt Gusr> CiiltW standard=setting-,role in;,tunes"19a4,_adoptedthe'existing; Accounting (L� 1 w tc Qro .. National' Council. on. Go"vernmentak- " standards, -The more significantcitthese,-account►ri pole =' trQn `sepa : the �'c Fate. cies are desc -ibed_ below . _ - L P f;4 GOVERNMEfV� AL FUNDS -. >, ha, o era + g - ill(; { usfir?rtli'SCt` t'titF :ii a•le ,.vent funds are those through which - - .- aN�tht+w re r; at sullf �t,td a' 0overnmentat PV8rl.,.�c s `.f the 3 Q tert?t �.1 r the ct vernmental functions of the City are financed. The , =,; r ?s �;�f�: at,rra � e uses: DQSF c� acquisition. use and balances of the City's.expend•' 7; ._ }= sat .ash IeQuirerment. ov able financial resources and the related currelitla �• a• t,e4r-nursed ^: };-,esei7 .,' <se.; 4:s - . atf,i_�tses ;except: those. accountedfor in'p,ropne j accounted for through are 9 ..governmental' iity oaf Miarini: ire fighters° and Police officers" Re- "rods Thg. measurement focus -is upon determina tiri?ment Tru -t (FIP01 and City t f Miami General E+n• . G,n of financial position and changes in financialp _-- eeS sanitation Employees a#+rement . ,tion, rather.than,upon net income determination:: tc .and y # GESE} e{1ow,naretheCity'sornmtalTrust iaeneraf Fund —The General Fund is -the gerieralo} - + It I u - I" c=r'ating fund of the C ty, s used to account for all 3+ ..t.=t .. _•' .,. '.. , f;nariciai resources except those required;to be ac cn+;nied for in another fund. ## Excluded trot" fhe'Enisty Special Revenue Funds —Special Revenue Funds_ bans; Capital t7 vetr�pment. inc, (MCDI)--" 'ta 4.s' '= - ire used icy account for the proceeds of specificreve; nule sources (other than special assesS106i,`eX- 6", ar! :;tr +. . trusts or major capital profectsj that are t ; Iendable i., . - leuaily restricted to _ expenditures- for specified �t,, Health Facilities Authorities (HFA)-' r - r �rpases -unds re used7ebt Service Funds�Debt: Service _, ,..,.. 4z . ; ,��:z„:; , r, ,• .:>:� a ie t ',: -_ `. -a account for the accumulation of resourcesfor,and , . - ,,t • ,. ,-. • ,•.; : , ;t; t he ray=r*ient of, general long-term _d_ ebtprinc+palJn- ±erest and related costs., Capital Projects Funds —Capital Projects Funds are r� :a. to account for financial resourcesto be usedf6f usea the acquismon orconstruction of majorcapitalfaalr• - ,• „' rt {. >:Aa ic�t.her than those financed: by Proprletary,_- i B. :basis of Pfesen#ation ._ PROPRIETARY FUNDS. i iProcrie.tary Funds are usedtoaccountfor. aC+ty0r " Ts'e firiartc;ai t;einisa(:** rlti:..')f tre y''); are 7e,. ;;r:;s~c� . ,'. which are s+m+larfothoser;; w., ' yi•3 � �r,{: a c;.T: = = v.:tts « , > dwa, c, aan;zatfons and ;activities This meansthatalf - ;,red r . ; -, �- , : :a ate se: �' set a:- , often found in theprivatesector. Issets, lia-bilities',_equities. revenues, expenses and a t_.ry _-. ,4 ..€ 4 t a, �. g aLz" 4. a, >.. is a -..et.. at _ acUvtttes- „ ;. ; c n t. "" #{�_r,sfers related to the City's.business v here net income and. capital ma+ntenance'are - .{".y, n.: u. 3 ..._ ( p ses Yl `+ 1 ` for through propne�dq, . - - - - _ -rfni^,rit':.; :'•k l; '.zS� '!'+. -.: ,.ti .tn, ','i.: - - accounted r+�easureci=are , - -' -. _ ... +c:r,cts The:measurement focus is upon.determna a: r -on and,changesu► ; ci net income, financial position, -_ - I •'j`�l t}>t• 't" ?- -- - 5- tC""+'; tint ,S.tl.3 iJ'ii'-; U �n 1 - - - `r•, =Y%'ari°.�! - c,d a t pcssit.on: - -- �� -- .?T7 .. -t- 'c:.'tci. " - -- - - -- � xu. Enterprise.Funds=Enterprise-funds are used lox ...:'}-`.n..<eu1 :r anc a s',d±F..- �.w+. #tar operations , �er?A•?;e ,tr.r:l� thf rY :y ;es ,i c ai c_, .,, - -. is in a manners -Inc. ;> ,: - _ `i. .tlrx' M•'i�,,. E:'4 iil:sr.. �.t�,.�Z ,:. u�.• �: �. pU"�'es ( ,1 .')k, operated , at are financed and ope a _ , _ _ Y, -where cep <<- t 'rf .a4.a ar `r.;rat `rL:r ,L;, r rises a to private business enterp . T - ..._• n .->.,: t: - -. - .i"C'�, .iti t+,z r.°L<• t-.-asrs, _,r a.c., Jti '}' - irl i,;u_.4 `� �t�tr_'r- - interest of the City is that the costs"of pro - -- -- - goods or services- the general publicon,aT a: e. T: t tfrt n ;;,T, r: ,�_» prtma!'!I s }cu= t; ;;, ^rf, ;- ,, t�nuing basis be financed or recovered -. - - a: SKI-^,Sc, r, p,; tiile!i•-y a e t> through. user charges; or - s nd ni, -; • 3 vilrli s�, � where the City -has decided that p `x i � ..t. l?' . - - are rir:, _. D;l=l at a:�: u a vi=s„sc,atacr^a J: .; =e e }}nation of revenues earried,`;w PM o r, e ;<,, h. • ta3 ; >s .. � aL a,}a.. r ot. -r ta, �;t {. inc rr rr is appropriate" u ed,: andtor.net inco -- �- -, n� p ri .., zr z .. A. W ..x#�c.r.SLs Qt t+,4 �:,,,y. lie mafla ap taE 'maintenance, public p Y tlfa foilew.nt' sire merit control. accountability, or other, purp� sir: rig sf,;`o r,t rt.Ur s a" used b " tl e C;, Certain enter er+se furtds historically;op�, _ - .have at_a less and have required operating subsfdiesfro the General fund. lfi future: operations are not suff+- (i l o g A cierit to offset these deticits, the city, wi•f f continue to Alf Goernrttet' Support these' activities from the General fund or: Funds erez ' other discretionww ary funds_(See Notes 9,.and t5}_. basis oh alouet . Internal Service Funds' -Internal Service,. Funds. are. _- rothe'peria..c�trrw used to, account. for the _financing of _goods or DrugT,nrbea. services, provided by one department or agency to able to papY..1 . other departments or agencies of the City, onto other Valoreintum. governments, on a_cost-reimbursement basis, ,. ge,-viceaaret ' thewrrentry EW FIDUCIARY. FUNDS tember 34th, pi' Funds — Trust and Agency Funds Trust and Agency g tained to Wtirr ` Qccupeilorr. li are used to account for -assets held by the City in a van Q ,peviQ..; y i s,. pri- Trustee ca ac+t or as an agent for +ndiv►cfuaf _of deY as erred vale or anp ations,:other governments. and/or other g chile tau4elice funds_ These include -expendable•- trust, pension accrua#wher ea trust _ and agency funds. Pension trust funds. are ac-= ortry'arr intenrtx counted for in essentially the same manner as pro- funds since capital maintenance is critical: lion _.gent? roue revenue prietary The City's expendable trust funds (SeltAnsuwrance _ w+he• anc 'available VN and. Pension Administration}areaccountedfor+n es- upon' expertct%tk>q sentially the same manner. as governmental funds. as obli' tigns,- ga The City' s agency funds are custodial in nature (as- - -sets equal liabilities), and used to account for cfepos=. Special assess its held under issuance of a Cable T.V. license and accruak whe to o assets held_ under 'two=deterred compensation plans 6Q' days, subs . for certain employees: that . adnorntss :e prior t(xthe.ecrdf . ACCOUNT GROUPS assessmentree -wl�iel� 904 E Account Groups are used to :establish accounting' i control and accountability for the City `sgerieralfixed - fercec€revenue. reflect eut?rQnt _assets: and .the unmature._d principal of its general, Specie! long-term obligations, The two: accounts,.are not funds. They do not reflect available f+rtanc:ial re- _ . Qbligat+on=Bor►, resent or a� � sources and related liabilities —but are accounting: eurrect in° ce records ofthe genera! fixedasse-ts:andgeneral long- _ general. obliga_ terns obligations. special aEss ' General Fixed Assets -This -account group IS used; x' erioi*aesui E p. . to account for all fixed. assets of the, City, other than countingaePg� 'those accounted for in the enterprise_funds an dinter- fund liability i nal service funds.' dated: with` a,4 _ n rob _is -_General Long Terns Debt This.:accau t g p g eneaf: rule: account for. the.1cing-term= portiot't of claims. used to a eFaf long terms , payable„' accrued co.rnpensated': ab8enees,.`)e e' outstanding principaG bal-_ The'agenc)F , -P involve rneq -. -purchase obligations. and ances of tong -term debt, other than re�ienue and are aceounte special obligation bonds payable and: other long otaccountin%_, term liabilities recorded in the enterpr.'tse funds- whew theW ocp cash flaws..' . C. 'Basis of Accounting - - A all s Basis of accounting.refers to, whert reven Lies and eat-_ are recognized in the ap_ Alt Pro rieta P.. penditures or. expenses financial, statements: :counts and .reported. -in• the fin eats accountedt fail ing Theiv irei otthe Basis of accounting relates tothetir>Fting _ - of the_rneasuaement fo- one urements made; regardless, ttteyar e :. cus applied. 'i - . , .. • . .. _ «..w.-,.uv-..*.--.;mow..-acre r-', oak" .... .1;., . , . - i __ _ th.e:General fund If- :future operations are not surf# {1} : Modifiett-Accrual ENT12_ FUNDS _ NM,... whicfi-most. cienttooffsetthes All Governmental:;-Funds_and ExpendableTruss GIG o r he t` rental funds -are those through- S.- these act vt refs rf from' ehetGeneraln tinue to rai»ag " txhefev�entTha ... Goyernm : s of the City;are financed. The nary funds (See -Notes 9 and 15)� Funds are accounted for usiri� t mo�tifred accrual, Ott d Attie riot ski other discretiobasis af.accaunYing. Their revenues are recognizect- 1 gbvernmenial_fun nd balances of the- Ctty's expend tor. the . — -DO 'Sidon.use and, h eses, acqut Internal Service Funds .Internal Service Funds -are ntheperiodinwhichtheybecorriesusceptibt�toac- - uitTraetit nclai resources and the related current t+V . 5fieq le.fina anted for fin- ro rietary used to 'account for the financing of goods or they became measurahle and'ava►h 5s p p. ,. r ruat i.e,. when �Ca ab ate- ovemrnental services p y p agency to iabtlities.of. the current period- A_ � etttib red '� abiliheS �except_those accounted rovided b orie department or g able to pay I _ . accounted for. through _ g. funds}„ rent -focus is upon. determina- othe -departments or agencies of the City: dr_to tither Valorem taxes: fines and forfeitures, and chargesfor • basis sarvices are susceptibte to' accrual owhen calteeted in icers .tAe funds. The 'nteasurem r e, - �a�;ppliceosttronand-changes_mfinancral.pa- governments: on acost-reimbu serif nt tI er- 01 Miami Gone r's ': tionotfinancialp net incomedeterminatron the current year or within60'dayssubsequentioSep overnmenta► fund Sition,'.rather. than 'upon - 5' _ietirement - li;!yee ..: in are the City s- g - - .- It follow- 9 v not v Funds d ad FIDUCIARY FUNDS iem 9 that g y.. receive twined to billings s throw h the: fiscal t ear.just: e St_ ate essentta The _ - t�c es: - - '` rt lusts nder3he,adtnini tYA, The General Fund is the general cep• _ Trust -and Agency Funds —Trust and g � G. Occupational licenses revenues' collected .in ofttus efelFund-, - ,to account for all he City in a men are used to account far assets held by the prr- tseparae are re teoards it .is used . Trustee capacity or as an agent for rn°+ fa s and of the City. defer red periods,ce of revenues which Ut Utility, service, taxes' of�an� . Brat+fig brirhg,Ptity a those required to be ac• = vote organizations. other governments and�or otfier rep _ es exceptch+se taxes:.' licenses and per are suscept b#e to: van as pia firtanc�al resourc in another fund: ` funds. These include.: expendable trust, pension accrual when collected in thecurrentyearby°the City icounted for , - . a�e',Funds -SPecial _Revenue Funds trust, and agency funds Pension trust funds are 3c �Ci81ieVe . tro ountfortheproceedsof spectftc reve counted for in essentially the same manner as pro- cc _ nce +s critical. are+recorded base or by an rntecmediary governmenCser are Usedtoa eciaj,assessments. ex �pij-==A'h - other than,sp tary fu f revenge when esarned sitment nce they. Iln- sources ( projects) phe Cit 'snexpendabteptrustm funds Self lnsurancP nittg Zara- n>,e so - .. i to ro ects} that are tneM, - y �ov'e'Nll:t31's pdgble ifusts or major cap and available Where grants revenue �s dependent atiitity ;e. ire led - Io expenditures for . specifsed and Pension -Administration) are accounted .or ,n es- nu sion fias titri+ed as leaaNy _ resins sentially the same manner, as governmental f nds, upon expenditures by the City, reve a ,s. accrued doses. - bt Service Funds are used - The,City's agency funds are custodial in nature +,as •- ' � a.. - ands _. Oe _ a €igatians are incurred - — t itieis Debt Service;F sets equal liabilities) and used to account -or depas Special assessments areconsidered susceptible to, accauntforthe'accumufation of resources tar antl res:,a ;o rrncr ai n- " �, late statute to issue n s o rov.sded term debt p P''.. ° its field under issuance of a Cable T �f. license and accrual when cotlected in _the current year or within Mptttbbligation o-ifie C the payment of, general long- n. �' - retated'costs' assets held under two deferred Gompe ai+ n plans-daysthaamou bts� eceque�ved pertaintoliens .assessed t°iest and . Ca ital jertii?n5 (}ifler a a - - - _ hAXai projects Funds p Projects::Funcs are for certain employees. apit _ cial resources to be used for arror to the end °f the current f"rscal year e special .. oa eril ` used toaccountfot;finan .assessment receivables atyear-end:of S7,735 853. Of hown net of de tiectit►a=.� �g sou, . .4 C- == - the acquisition or construction of major capital faG+i+ ACCOUNT GROUPS- Propr+etar; _ fi . giver Account Groups. are used. to establish: aG lerr es of S e329 o6�t to mare apP R om ' n*,nq ► d►1 �-.. han those financed by ble for debt which ��39 2t) . - tdes. bother . t _ red revenu :.. "or�; :�e.: y r the City s general fixed +efcclude _.;hem ;Funds control and accountabilrt fo reflect current am°unts available ebt serv of its g2nerai = is are recorded in the General. RrDPRIETARY: FUNDS r assets and the unmatured prrnciDal Special assessmen _ . -. P tong term obligations -The -two accounts are -riot t`�b'iigation Bonds pebt.Service Fund: rep- since- they. "rep- ' Frootietary Funds are used to account for a C1tY s c. - y F es which are similar to those funds.. They do:' not reflect available financial "' resent only a par`ral reimbursement of costs +n` } r= -' iZations=and 'activities n5 that as' -.sources and _related liabiiities=but are accounting Furred in certain capital: projects .financed with' ,'bris011the-;t!r a.e -gip' gan ra x a re e o i Sc-ivate sector. This'mea, es not issue 03 .x5, often friend in the p revenues: expenses anv records of the gene I fixed ss is and genera. tong general obligation bonds The City d at wDassessment ds Wit= met set= �2= assets. liabilities, egwtles, c� term obligations, special bon sdmg a se"�. ' _��t� _ _ e `r, _<-;tom trans#ers fielated_to the CitY's business, sma vier eeare General Fixed Assets Ttais accourtt c;roue is used t Sorn�ts# 2s- - - or net income and capita t Pnndg are generally . ecognized when her e at d g "'•`= r`etary _ to account for=all fixed assets of the City other than . _. �. r:r. ;;. L at measured —are accounted for throe is f deter'm r;a anted for in ttie enterprise funds rand rater- fund: arability :s incurred', and expected to be,`iqu'_ r us ;-.e_a -funds. The measurement .foceition and ct;an°es = those acco dated with. available, resources_. Exceptions n - s lion Of netincome. financial po . n T n;, 'General, Long Term Debt— firs <tccc?��stt grnup. Is, general rule include principal ancf Fnteesr can g`en- nancial pOSlt10 r - Sep ;�, 3C terra--port�can_ c}t Gi�aim5 ��ral_?°ng-term debtwhrch,are recognized `avliG'n due= . - rase Funds=Enterprise funds a.... ,_ used to account for the long iEr+terp a able. accrued compensated absences iea� the agency funds are r_ ustodral +it',nature and d+ nGE' operations P Y ns and outstanding principal bal-- involve n1easuremeat of resufrs of rxperatron's fiep _:. �.� d;;ac;ai - count op ` ors ` .... �- ijzp refinanced and operated in a riwranner_s ne purchase, +� 1 that a l .� _ ours- ancesoobligations debt.. other than revenue 7 e n� are accounted #or under the mo�+ified. accrual basis ,t 9 o accounting. assets and lrabil+ties are recognized' ,ems ,,n3y "e sat to private business enterprrst s - v'ro� +lino cif related a'aE 'sn :'cr special ob[_igatian bonds payat7le acid-, other 'S, � ass vi'=a uo= interest of the City is that the costs c p luaus n a chi cse when they occur regardtes_ s of the. irm°rag �6tv;art oodsorsefvicestothegerieralpiJt�lrcil.. "` term liabilities recorded -in me enter>�r cash, flows_ a �. very f primar,,Y e=.}at 8.-� tinuin basis be financed, eodror reCo C._- Basis of AccountingAccrual:d 9 w an dot : ..through user charge red that per'igurc deer_ Basis.of accounting refers to hen revenues ar)+� x- - Fein are has--decided, i toast account-_ {2} Prdprretary d` Pen -ion Trust _t7ir•atnoa�t=iSj :nrheTe.the'Gity has N . ex ense� r nrred fn the ac rat tQ Se, penditures or expenses are reco( accounted fcir ailusrngthe acGriia sot mutation of =revenues earned*.Yprp counts, and- reported -in the financial statements= r�,g Their revenues are recognized uuheri they area co ^.o incurred.. and/'or net. incbm.e is; ai�,� manage'_ obits Po-l!Y Basis otaccounting relates to the tin'rn9 of the mews earned'- and their expense are reeogntzed when to a- a o tmla� ere. ante. P __ d -_ fi incurred. r teU.' - Pasurernent fo meat control; accountability. or- oft}e4 purpr�ses - capital mainten ea u_rements ma e. regardless of the - rater rise funds have. hlstoncd► y es from sus ape lied, they e--zps, are Certain P subsiur eta Joss and have requiredgp erabng _ 4 - _ ' _ ized-cost- which approximate � tnct'ivc dust 0 xceect.:, - =L "_Budget Calendar ro�erci[nent i - is on st of ".g obligations men c s►U.S,rev ric�t� st t- r ures to estabiishtn r . .ati. ^ ec ,Gse pro 9the investments with approved financial . �nst dot- Budsetary Data _; .^ a a=;ec?ec r the #inanciat statements and time .deposits . September 30 1986" accrue interest FCif3F�€� rsverti D- r _.,r _ .. ? G i .r ;irk Manapr-submits"t0 . Potic4 - "proposed t� ons .At roxirnate4 - pooled amounted to app '/ e. r ate",snY 9- I Budget .operating i t e _ ' _ - `* tiomr�3sson" a ca ed based. upon. income �s at o t p eCcentPt." --e - :- ti . -.,? = s::at ;year commencing the fala1=600:000".interest --� V�:,- -_ P--r- - the aPp roximate;:proportionate_ balances. -of each any,'one° v ;rre. Est _The ot?era€trig. budget_in _ _ . Pooled and, Investments.' Loin- funds equity in P Notes Coll" t, • - �. res ano the meads of - �rf� �cC cx:� *�di J `ss" ' terest is charged to funds" having deficit f�atances mar- . pro OF _ _ .�eaf etary" control' is,1e all Y -9 melt ve I ' available a for a The cash .and in nt poo �s I Housing A - .-R A fee zc for • ept. Gen- _. f e "following funds, except ar for -the ' Administr I s at :,re ceparimenta level ed to obtain tax Miami Sports and E�chibit�on.Authority Special ,. �� Corporate- +re ,educ - •=c= - - � Revenue Fund - chases and ski Purchases _ • -' = : - t� e buacet is: -legally en- s . ". Downtown Development Authority SRec'at trade -date basis .. y - �- ,a �- an ordinance • ��vcj' Revenue Fund on Bonds Debt Service Fund: is" based on.aver _ rrm� s.cr anal City, a Manager iat obligation, • Spec_ tt�veitto�ies: :. • -- ' . ; �.. cepartrnehts any part of an I MSEA} Obligation Note"". "Debt Ser�iee - inventories are' v } �, ,,t e of a approPiiation-toa • Subordinate " first out bases} or `. . or ,vtiich: an.aporopriation#or Fund:tMSEA) ct SEA} . the intern S - = _ _. -. ' _ . _�•.^as Droved insufficient At the =` _ , • " Miami Arena ark rig'ta P Enterprise Fuundt suopt es tletd fott�q .. _ - - •he unericuraberedbat- .. r • Off -Street - _ _ '`e s to cum en reGerT the fund. ` � - GS�Q Enterprise Fund " Pension Trust Fund tatedt @trip AccuEnu . Em C1the�IdSt _ -' - - -' �•ka;ec and.snalt.besub• - - _ _ • FIPO • GESE Pension Trust Fund" Under'te fn, of Cif : _ ^y,c`r at: ns - r. re ac I n g .. - - - $ r_'_rt�frameflQpFed.#flaas _ -The funds "fisted. ab ed se arat. cash tracts. and adrninil l - -' =gin iiy investment baVances In addition. certarn"other Cash, and, fn- granted vacs o cert - � �•c.;,ra�ss<onandCit�Man-; City funds maintain separate restricted rice with debt require- re- h �dditio�natt�yl fay - vestment accounts in compliance v ;__ 'menu (SeeNotes4 and 8). - Ur<used_vacatiorx _ Encumbrances separation frotre; w Ecn purchase -or F. Pension Investments "" tions.deperr(:bng ..•. - _ co rrrta^ents tor. the ez _ _ �_ , _cur ec n order to feserve " - is "are carved. at COS t Debt secu- " and cwii -service ct" of _ - - - is �m- app£ Prla€t t►es are_adju5ted for amortization'.of premiums are am°raze _ vernme the a®r ernm itte -. ` oi€at Pro}ecis;.'Funds = discounts_ Premiums and discounts "ht-line the life of the in- tongm pctrtto -ter rancesare ._ r Das.sl e c umb _. stra i basrs aver using the 9 market values of invest= being recor of :ne curren€year-Ona _ Approximate A vestrnen`ccpb Securities traded Group " . czar es L uLsta.r of 9 a€"year-et>d are as follows. merits a e are valued at the, C tntfag �vearrtnen a. o' tune tialarice she - ltabiiittess on a national securities exehaci9 price s on the last business Qf e X�e*�oyarre or last reported' sates securities tr aded The"Genenai: Fu t.. Excess C?f Expendstures Aver the fiscal year; and fisted secu ies for which no" lase penSes for otit - tn"Indtviduat"Funds _. counter market on that date are valued at the data rocessin ,App'ropri.ations ' �,: excel, ot,expen' =, . sale was reported. 'pri co".mmercial paper and money - ytred 1. B3F Bi1de ' -- ..-, -r- �isca y. _ , ._ `r re reported bid ce, P t which apProzimates. ued at cos majoreer�cQ pQn. - -- funds are va( market valued based on cukrene" marts a at the IM �o[e _ e" a �s: valued. rental prop rty - gartmen i L - $13, et yield.: . mu PsFLtI - -- =� ,• _ hale option" price. f P c the Boards o P� jeet�a�� a _• Investment policy .'is.. determined by by outside" investment: direct taOQ r' temented Trustees and is_imp a"the fQtiowing visors, us a4miniStr _ k� �_ -= �- �"'�"- -T :. ` - .-- advisors. )rives t n t ad . s _ :.. _ w _ . _ . • -#noied Casts and Investments - guide)"tries' ° ".bonds, fti scan'.. __ - - - - �sunting. s Yste(o _.� - - - - - :a L a"- acc - z in , ." Unlimited bonds notes or rnvestrtients United States Gov- nciEit - - - and a+x _ - - ^iestmen, � ^ar other obligations"o f. the ct iir bank:certi.fi- " chaF90s;o zx amtatnea rn a , ernment arid' its. agencies an tFve; expe •. - '' _ - -�, �sri.3nct ira ca reft�ect 3s :Cates of d,Po. sit e - eu :e'2..° are 8 Staw .8, 't � I x I , F-7 -the fotlowi ng can� tments Jnd vidual, inves, -amortized cost which approximates r.n,arket. All • or of the fundw--available� r exceed. c endar, sist of U.S. government obligafar tions no sudgel investments con (2) 9 the tfi6seproceduresiiiinestablishin investments'. d.time deposits with approved financial tnstltu� The OW61 lows. an PO -September 30, -1986. a mom stock. preferred stock � in, the.fin.ancial statements ccrued interest on. Corporate common: 'budgetary data reflected.1. - - -�': : r tions. At (pro ded, - the a9t- ubmits to imatefy ertible debentures vi City Manager s -amounted to aDprox ugUst3lst.the investments. three priorto-A pooled ts tt�ie budget br� -a. proposed operatinggregate -investment does- not. exceed, Commission:- Interest income is allocated based upon nuallY.adop the City rn encing the tot- $11,600.000 capital stock- of let, , :,.of the C"Y' e - x- r co m e proportionate balance,,.-�, of each, Dercent of total outstanding -IOr the fiscal yea the approximat budget operating budget in- any one corporation!1 Ober 1st. The oper g s equity in ponied cash and investmen.fs-_ No 'n a t mortgages on ds: lowing October fund' tiat itures,and the means of co eralized by. firs �ritSoe66 ;iieverluefurld, sedexpend is charged to funds having defr:it baianc(:�s 0 Notes �IudesPrOPO C Budgetary control is legally terest auaranteed by thre- Federal ue fund investment pool is avaslat,,te for a i I real property or Cigl ��R n financing -them a and the Veterans 10, G, The c sh�_ level except for tt en— or the following: Housing Administration -or lAtthe-fund funds d maintained . - h ' at-thedepartmental levot. funds.. except f Administration Debt Service fun eral- Fund, Wb'C Is fonds .conducted to obtain i sports and Exhibition ALith1-;r!,y Spec;a� bligatidris. tax •C rporat interest bearing, o e rings are'.co Miann 0 Public hearings Debt: Service. comments. Revenue Fund Pij r chases and sales of securities are. reflected, on & gat Note -payer -COMM, e ecuritieS Downtown Development Authority SP cial udget is legally en r de -date basis, Gain or loss o n sales of S the.. b a Prior, October "Ist, pec Revenue Fund be c�neiiral S of an ordinance is based on average cost gets'far acted through passage 1 Obligation Bonds Debt Service FL!ri(, • adopted on. a i •n and City Marager Specia ac Generally-, theC,O,Mml Commission n, r(MSEA) i� G. Inventories 'with generally g depArtments.any,part of, er7 Mon De Service May transi 9 Obligation Note Mventories are valued at the lower of cost 4pP)- except that allance of an appropriation tea Subordinate Inventory in Tntiplet IS -fund unencumbered b realizable value- f irSt-slut basis) -or net or General which an appropriation for Fund �(MSEA) : I - I lbe Or object for w Fur-rds cOrsists of expendable s ai Project Fund 11SEAi e ..purpo, e proved insufficient A! -Miami- Arena -Capit the internal Servic ,,,A, ex year has the current -Street Parking Enterprise Fund s(ipplies held for -consumPtIOM are t" results of 00 bered bat ,tyto COMP achliSca�l year, the unencurn� off close • of le, prise, Fund sick pay. and ervice to: the luno� 9 G&O Enter Unpaid VacatiOn. al R-evenue and '.Debt each appropriation reverts Accumulated i Statement Of ance Of. eac FIPO.Pension Trust Fund. M I riblined sfb�te ropriated and shall be cub, other Employee Eienetit A ountS ,�Wthe ;COrl which it -Was aPP from W I-C. GESE Pension Trust Fund rid Changes 4n-F und B al- propriations. of Civil Service regulations; labor con mms,a ject to future �ap Under terms eCombined Y!ra maintained separate cy. City emPtoyees are R. atpt-esented -in amounts in the accompan funds listed above. SeP "ractsand administrative polt Budgeteda Ou The fun I nd Changes alances, In aoditron, c-rtain other side leave in varying amounts enditu'resa -as Originally adopted cr- -a s and investment. b granted vacation, and Jes.,ryp vial statements are. d c Ish and in- an be accrued', - bit 111) Commission and i0a tricte e hours c 8od- and AcftuZi !Ext" the City COMM's City funds maintain separate res Additionally, certain overtime amended by . f:lre- compliance with debt rel ed time off ages through the. year. vestment accounts� in arid carried for.'Ward, as earn, 4 and 81.. and leave is payable upon ments (See Notes Unused vacation time a arlous �Encumbrances : r, -(3) ice, subject to.V h purtha4se eparation from service accounting; under which loyees seniority and . Encumbrance "Cir the e-.(. F. Pension Investments *,ions cepending-uPorl the emo Commitment Cts. aridother service_ classification, Accumulated anowc. ---derg, Contra --,ivii se earned in :!iiel monies are recorded in order te) res.er Pension investments are carried �ted 3, q Debt secu . I re accrued when e peridit6re of, the - - I - I frs,3r-d compensated absences a n, is eff' ortization ofprern-u that of the aDDlicable appropriat�c adjusted for am Proprietary Funds: with"th rities are a eint and Proprie tti I re arnort!Zed thi- Governmental W ounts a Governmental Funds Itabilitoy 9W General and, Capital PrOiects iunas. term ortion Of P iong-te ployed in the 'Ices ar, discounts,: Premiums and, disc Governm encumW-.A, -line basis over n e ,tte o f in udgetary basis. -using the straight e the General Long DeCt On.aron=GAAF`b invest- being r corded in_ expenditures of the current Year, on a pproximate market values Of as --expe vestment. A recorded ar-er`0 Group of Accounts s outstanding a! ve s follows Secur ties traded GA AP basis, encumbrance al-,rce merits are determined as v I je:ll -It the- Allocation Ot' Admiriistr -as.resefVatiorns of fund b i,; exchange a a reported, on a national securities tntragovernmenta are -iy p -E pe ses constitute expenditures or. lla��i- reported sales prices on the last business iess di� x n they do not -C ,-last -th - - - a` over - e 'GenerL:11 Fund Over d d i n the - e ricurs certain aoministriz Excess of Expenditures the fiscal year: securities tra e ior -�,vhjcl'- 110 accounting- legal, 14) Exce counter mark lies Ap priationsAn Individual Funds et and listed securl' oenses for Other funds mc pro 't 0MOr... orted on that date arevalued At'The ,atzi processing. personnel sale was rep al dP criptiort ofthe: Ig subfunds incurred aneXce' Ind aZ X�d ThelollOwit commercial paper, neF-ring and otrier services A brie 3Z �P� the fiscal ,ile�Ar�endei'l reported bid price, a tes re as, tOltOWs- ditures over appropriations for such rharges a tc nents.of 05 W I � -,.ao,' COMPO market funds are valued a ,Projettt Funcs are brudgeted on a -September 30, 1986. current nt—The Pu0ii ljvoeks De- e not market; mortgages: are vai-ued olsed on he•Project ManaVme 'lot erty Valued survey and MsPl whicj�ar;nual budgets AT Special Revenue Funds: ;-.I t market yield; and rental prop oartment charges tor -design uUm , 11 ment evelopment Authority n mafor-,cipital. improve Downtown ices 0 n 0 purchase option:price, tion. sery basedof, non-aDorobriated. -operating f City- These ct,,arges-a— opts Services orole.cfs of the. Rescue mined by the- 80arkis 'a - ad-, factor for t -a In policy is deter je inVe-StMent direct labor charges- Plus -over �Un vestment dstubstan laity on n -he Debt Service Funds: 3 d -is implemented by Outs1( 'fivi ,teveral eicepbon& as loilows.. Trustees an 0 ve expenses of theerlgineering��, Utility i e-Tax Bonds- se: the IOU W-UI`9 admtnistratt teiy $2 0G7 ty 8ervic , � - - I advisors investment advisors 1 '000 ;Qr 4�rebudgeted as debt sion. and totaled-approWna ti,paymen�s . - - I I *E. Poole . d Cash and investments, hdituires, ..The 0or-tion of debt sera- guidel ines'. fiscal. year T9861 Fund tcounting sYsteir The -City -maintains an a n boni-Js� -note, ar Cost Allocation - —The General ai nayments reduces. U e 0 investments t indirect CO ibg r prmcip rid -1 b • Unlimited inves substantial) -a ations of the charge ility on a GAAP basis s licash investments e United States GOv s other funds for general and admirlistrA - - - other, oblig il costs maintained ln,� in bank certifi . overhead wtil`las,capitajex en- letest are recorded and es and, , five e enses taaltocate. certain ents� ��! I nd its agenci X0 xpiense as P such cash and inve,str ernment a ures for capital group . of accounts. su 0 1 - I 1 udgiated., ExDend-it P reflected Is 0 cates of deposit r accrued interest. are ets on a-_ -cludirig :,-ed at G05" ftajized'mio�fixea ass r e stat cash and investments. investments a n e pm e `slue Lin, T I p 7 14 % . id wit+r.� � i;: `,si�lt)ys4'ttw,'d1rVfF -i �• - ,•, ' - - `-- _. _ - .!5" ?,.,, jsr;lL;ic:v.eH, I�VY•Ct.(fe{3Tr$d,?;� - _- >< a., ,�.� �_,,,,,.,•., ,' ,..� -� - :tt jrw..rf?t' rttic.: i�3r�t�r�t�p{31D - - - - - ne•6_ rTT�t4�!$ rrtF s .. Uc=dit; fY urTrfJtsa,�i3Dt$ n.tr:.enrera,anrt¢i r ,. ,rt: tri+- ;.ttF xitt.� 3rr tpi4. -. f0`u<rt, x : 'Ysscu.Sjx"ctrV$1y1 T1tE i:a< .= Uuistci-, ftstuc yr19M Putnam �,°- di iTs S)rrt; -cttt r'JUMPIO# - Tt into' are Juntt garb°fly E? ss'iI 1Ew�Vz': - W ''�ttlL! ?r19t7 - _ � " :)t1L'#arrW �� if1? _•rt�.�aA#1�C titer €r<I:A1TItr �tpn . urr r3heA ia�tr3i�rTi��1Y y�.� YT13Z1 )fit')er:.; ilr)r 'dart$ * cri •i_ = eTttrsion .TLtnrhinistratin a3e El d, .a.7711 rtZz.; �'f itiL - • - _ � - � .- - - - ',=�'^ arrb r�ai3c�ti1�01 prDom rag, _ ter^ �3^rtirig5-i-n r t ?^artgg?ss Its 3ttcf fib e-T IFLIrlds - - - r.�• ' Zia YV17tctl-aTE �':E.i _ - - - :g, C` .. .r' --_. - .. tB.iI ..e. eO aria Des cratlars z es n ns are es�abtish L u ST,o _ - ;i l0.ifinancial, Tesoiitce - - *. 4. Sj cti pians Of 1teg, _ z l�7we.a gongs} tq: TY TAX PROPER . corporate fop. Pro peity'taxes are levied on Janeiary tst.and.are- the depositors"sfirrarri:ia� :sable on- November�,1st.. with discounts all owed of one Chapter 2$0, 3 r�T o £out,percept if paid prior to March Istof the.follawing The C►ty`sinvestrfre+� lenaar ear_'AtE-.unpaid taxes -on real and personet - .. -, - :. ra y categariedpeiowt - , F n,00erty become delinquent on April tst and bear 3nLer est at 18°3 until a=tax sale certificate. is sold at auction. Roo+ea,.ataesaaeceac J3Ue. County r, •Cp bills and collects all property' taxes for the u#w .s, TFeasury es�ancpaiits ;-,; ano sells tax, certificates for delinquent taxes,. Faderat. Farm Cfeqi€8ureayew LSmmefilatl3dQer- - fA The assessed value of property. as established.by :. strortrerm:;liestment�o4t +_ D4de County Assessor of Property. at September 30.. '' RepurcoaseAgreemenh� . 'g85. upon which the t_985-86 levy was based. was_ap- :. crox41; 000 The City i5 ermitted by Arti- imately $9.231, ty-, P accnwt:nte.ast�r c�s�atarna:w ss* Section 8 of the Florida Constitution to levy taxes up- 3ir�+?aM .1 ti1,0 per S1:QQO of assessed valuation for generat gov- Fensiwutnvestmears arl,mental Services other than the payment of, principal u S. Gawernment R0iigaun: s +.' and interest on generaf obligation' long-term debt In -ad= : corporate Slogyl� . i u=tion, unlimited amounts may be_levied foe the payment commercialotyds 3aa+ or'incipal and interest on general obligation'long-term stwrvTerm #nuestmeorPool .; teat. subject to.a limitation=on the amount of debt out- The tax rate to finance general governmental. AccrUeaF�terestanocutnen. ,= standing. services than --the payment of principal and inter- ,(other e5t on general obligation- long-term debt} for the year: The City s investm.1 prided September 30, 1986,-was gg;857t per S1;O0Q. The. party agent for or trt thq debt service,tax.rate for the same period was S2 052 per . _ .to overnightrepurenase S irr a separate account; it .OQO. 4. EQUITY IN CASH AND INVESTMENTS,, policy witty.respect tr ` .POOLED, •. CASH WITH FISCAL' AGENTS AND OTHER CASH - vest in. repurc-0 lie gi - or lie - l - AND INVESTMENTS' . amount of .the City's cash term; (T days , purchased tbrougno4t.1 At -year-end, the'carrying and t,me.deposits was S74.348;407 and the bank balance proceeds depc�sitei' rt fund an>ictpati° off was S7i.341:106. All dash deposits and certificates: of de- �' iSee� Note " Dostt are held in banking institutions- appiroved,by-the - Treasurer to hold public funds, Un- construction GE_SE and. FIf'Q p.en5t' l State of_Flo rida State der the State of Florida Statutes Chapter 280> ;'Ftortda Note tFi` , €Turing tgBF. ttre Ci' Public Qe osits Act",'the State Treasurer re- Security forp deposit with the Investment �rnad��a quires all quatifiedpublicdepositories:to. Treasurer or another; banking institution etigibie co►[at ' poate .. ser•..ved Eor 1-. t eral equal to from 50%, to 110% of the averagedaily bal- public- deposits in excess of _ ..a300:000: vart0us funds pafttcj'F ante for -each month of all anyapplicable deposit -insurance held:_ The percentage merits, of eligible (generally, U.S.,: Government and , l .collateral I agency securitiees; state or' local government debt, or f _ - I 0-7 nctent upon, OPERTY:TAX corporate, to pubtic deposits i depe. p _.. #ers: ." All . 'other' _ in ter' ;.3:. �.. nd.itscoRi [ianc with . trans , ;w.; '= PR taxes =are levied on January s„ a"d ,are the depas,tary_'s fin t'es�tf"hlsforY,a P . eyed ..:qu! Property . . iarttyes:coa1-.. -'- . transfers.... ;,,. _ _.. Chanter 280'. etaifial ,. transactions are;treated as operatrng s - sled. _ , . - payable r 1r or io Masch tsaf theot, ne _ The Ctrs s investments as of Septemtaer 30. F98fi-are stages' pro a Compention_ :_ tq;four, percent ►f paid p g • lei o ees two deferred compen i ,_;'=;;`c ear,' Ail, unpaid taxes on real and person atego be tow e pity �oifiers ass emp y _. at. ermitihe deferral of,a portion ofanatendar y Cast" hCariteu`` ibS tidal " lansth p. ro enX be rii tst and bear rater sa , td"#alas° years..The deferred „ P.,_ P _ o Un 1$ /o, Un_mead a!xnsale certificate as scrd da t t; estrtcted. et Ali jaiitanondS empjpyee.s Salary . _ .. pooiec and R ized._ ` is o't avaiiabie . 0 em.ploYees.untri ter= . est:at - - {tsare tmort . _ art ensation °°able ernes Dade County bills and collects all oraoerty tars 'or, t'� ,ireau - ertf+ co .P. orunfores =t - _. Dads. tirement, death. s tax certificates far delinquent taxes u-S 'reasu v `+o`as tr�s Stets b5s;336$.' s 60 :52Q3= reCeyaS sS-ns aaJsS 3 s3fi,7'9 6�033(S ybrheie obi° rritnatipn. re _ . t _ _ Me . naassessed value of property- a M' � .' n4 s , a,t pc -City, a z t�,as The s estaol st�au o; 7� ��.a� T �ssae� pita1izAed ja`hd arnottii gen�r. .. �5.963.3-z zs.s6 0W e�©ads... = for key. management personne4. provides. � heteeih - "- tan, i and the Dade County_Assessor of Property. at Septerroeru.� s�>, �C3ne p. empioyee of 8 r. _ or'colitt ibutionsIrom the city . = yes ectavety: The; .other _; 1985� upon which the i985-86 levy was base," 'Nas a ---==---"' _ i o Dual salary. $9231 permit by Art °10%.:of an sal_ P r r roxi ately 000 m 4�7 The Gtty is led set3o,verntrtbn anti em to ees. rs funded..th rug ... P t tat n .ti en to AII:+City . P . Y _ u aeV�ta�es�,p _ ,cle7: Sec ion 8 of the Florida Constitution t ' - ets zre pia.': P ions :only. valuation far aerferai q - °pietist ttyted ass _ eB; ayr011 deduct Pension- Ines _ a 10 p to $10 per$1,000 of assessed n fiiaillFaK'ed 5 'CAI Assets emp Y_ Y _ on3ributionsurepaid tooutside fiduciary agent.,. efier2it " All a ernmenfal_services other than the payment at Principal ` re amounts of compensation deterred un- ` "ttsirttu.. - I amou s e Pe investments: . , - - t i-; and Interest on general obligation"tong germ debt `_.^ ac- Ixxr + s ;se 'e•.,-�et:t aoticaifans 5 ' $3 6sa atl8 � r rtz 3?4,raxi However, al and rights purchased wit p :,:iNc*a#e�ta3.-ys - 3 t a � � ; .77t%b>lelnent5 - qo -ata i c,.cs '.3Rn Fss 99�x s derthe.#ilatts.all_property. 9 utable to Chase- dition,_unlimited amounts may be levied for the payr�rer' ; ,T e �t� a�G�t, dabgbads;}brtttges,cur mounts, and all income attnb j- :h , r�,cm :^ve5:menl Aunt a' ana e,.sys = thosea - re until paid'or mach of.principal and interest on general obligation long ter r ��t 3•,z,oc i#�bwaltcs,`dra 9 prop, erty, ar rights a { -, ton artiounts, p . debt, subject to a ►imitation.on the. amount Uf. debt aut- ;.: f��:t =, z <. 3�<s a,sxe� a tiitatized --along to ee. or other benefac,ar - 5360. `y't t 6 a: > tOc 2$ tin- : e ro erty-and rights of the City fwithoct be - debt ng: The tax rafe.to.#inarice general governmen'al �,depfiecia"tion ,has available to the .emP , Y . �s�oiely th p l) t and rater- y on eneral obligation 'long -terra debipfcr t4ie year, The city's snvestments- are either herb by a third . fixed assets. _' s areg:restricted to the provisionsof benefits under h� servaces.(other than the payment of p ;nca al -#or overntnaentat. fund ct oral to the claims,of the Cs,y.s .ge i- est ge tember 30: 1986, was 59.86I I Der :l.0Cr0 `'= ;;arty agent tar or ,n the narrle of the City or with regard la _ae endiiores: with plansj,,su'ble partici ants.. Tights -.under the war--s e nded S p_ �^ s` Ids 1 eral .creditors..' pto c?vernight repurchase agreements tatty cortaterari -ec' ' �;.`1 '' pzr Wherein`�captta those of,general creditors of the C ,ti <^ b 11Fvnd, ` ;n a separate accaunF in the name of the City. Th de t service tax rate for the same period vas e City s are equal to nayi�tureS. $1,000. &"fl efatal+ex e ' n':amount °past to the fair market value of the e - ditu ts. a ice ant:: 4., .EQUITY- 1_N POOLED: CASH AND _INVESTMENTS." pi)hCY �v'itti respect to its pooled investments as=ta nat 4tz'-. d dt�tant G p _ iered:accognt for each part p te#yeralri u a . nd 15 °jC,ASB"Statement „2 Frnan.cia� CASES WITH FISCAL AGENTS OTHER CASH _vest In repurchase agreements C� efnigh�ratror s or Pursuant to the AND INVESTMENTS i Project valued At Is- Plansdop'eU term i f days or' reSSl rept2cttase agree +; r DurChased throughout the cause° o the year m - d '_ - f the �:, s _ash , Are Ga ta� n bond, !'ppi efi onated pe porErng of _Defertely. _ g proceeds deposited ,n the Fvtiamt Arena p ' roY' _ ,as - At.year end. -the cart an amount d'cost.. render the Provisio,, s of fFiG Sectron ��n Futic atiear.estimated certificates otde - fund ,n anticipation of the corpm"eOE�rriertr of the area's. shed- reclassified its.Deferred Compensatao pry and time deposits was $7a,349,40s and er bank baof ee pros trataGr Was $77?341,106. All casts deposits and ce v tment policies,for the 'led oust included- in'the Pension. Adminis, n u . construction (,See Mate t61 laves x p ' ibtitced�a5sets�sedbY_ - to an.agency;'fund ,see �.� :e. posit are held in banking Institutions approv , utif� are Carr'= a' Sta f Florida State Treasurer to hold pubtic.fun ds Lin` :vat pendable Trust 1=>Jnd) _- GESE"and FrPC e sG_an tr st fun,.#s -are desi:ribed in expense against �aairSedasexpe !3. Deferred compensation. assets . use 1f)i d,er the..State. of Florida Statutes Chapter �t�tr F,r rids fl �a?23Ft ` ecipens;iaga During t.g86. the City ;ncreased a reserve for toss O �txlateddel r fair'marl(et'value° _ g e:a'` i tie Security for Public Deposits Act:', the State 7re35urer re investments by 300,OQ0'fara 5640,000 investment in cos i arrti�trrrt on th . ' rid lE uity re- witprevio n as Steen K _Fu q,. _ eciatio quires all qualified public depositories to depose' w 'h.the Treys another banking institution eligible toilat perved a 300 OO.orate bonds made in p-pe.yloss waswailo aredatc�{th?- - - ti U e V tf usefultvessltlg the tieserveS- - nisi s of the Pry r a' t, - led useful lives 'are. t. Treasurer or a e ��a;iY bat s ,artteipa'tici in po t d cash anti in °tit �esitma Reservations of retained ear g °rat equal to from 50° a to 110°'o of the averagrtctus 'f ads F Punds_are=_created by. ncreases,in assets_res s } meat, �' applicable deposit: tof hepa Th e�tpe centage ance for °soli mon rrtent gip_;.50.i�rears. fordebtservice 'renewat,and,:rep ace any applica e.r� S Government .end inenis - of .eligible-collatera} (generally. _ "t ttient �4`-20"years. tuat obligations. and other capital project rese"'."-or result from earnings or, rem a ern b Y These increases 'agency securities state or loc t goy other intrafund transfers .o and ;' th s r ,. years and ea :,assets me '10 -.�0 � ass ed froatith t`ntert Ise 1=und boy- stricted accounts.l=arnings on restricted Assn } s) use d 9or,constfvctibn pto- included in net income of the proprietary `urds i�ratig Elie cutrreht period as ihcrease in testricted-assets decreases un'e� n y] t;5e%5. 'n l701 Telated -rater � reserved. r interest , ": retained earning sand_ increases resew ionst isuchbotrowin s earnin'gs.. rnmentat Funds are _ re ' of ttratctiontofects were on Reserves of the Governmental i bsts. mrere tcapitatized, the portions of- fund -balance which are P:+L:'t ..c.e available for, appropriations or ,are legally ,gated for a specific use i ions are accounted foras t3esfgnations flu 5bfte ehses jaS.appTo tanceclesi nations are estabiishe �' L" Cep E; .0 - n °d ances 1 undba 9- -ilcca end teirtttt sactions ex t ursemetats.- 7rianagement's :plans,for financial resour.� e a.: coons - - ... Such plans -or amen+ �ws are - lis ens "NGritteurt r non tion in.a future period. - edybetweentuiti9sare constd subtect to change . - � - - , i- :,;,.. - - ,,. .. _. �I ' .-I- -I �I-r-.� ,,���. i.I.17L -I -,--. 1I�tT,i:,IIi�� _�I� :�I _�1rI- _ - � � -�: ��, -I�� -_L� -II :�- -- .L .�.�1�����I:�I._ �I - . _ '-I�- !-.,�-,--I -Z,�— '.-- � '� �-�-' �.-.dL , I � ..:.._ I - , , , -:.. - - � I ' f�t . , - I.-. .I ..� *. iI.. II.II1�. _,-�I.p� -��I --�.�- —.II�I ��:- .. -� .---...� ,�.. -�� . � :1 I-I, �� , , �,- - , I..r�4L � I � I I � �.� I - . _ _" ." : _: . I_ 1- ,-I -I .I I: .. IIp -.-��'- ���.I.r�Is .5 I I- -�.:I. �--I�L I�: - . .:�-�t �r �-� � -- -I .�� , 1-- Im�'r I �. � � I "" - � � - II - �z� I 1 �I ..-� -T ��I 1I� �I 1.� ��- .I�I �.-L .,� � .�I ,I�1-I *-� I� I�� .--, I .. I . -_ ,L I..L� I. ,- � �I Ir--_r -I,� . � I.-. . >I _; � . . .."- - . ,- -_" . - I �I - .::liE 1FAOMiTO OTHER 1`UfJOS - - r ecific " ur tctr.aG P P II �I�-- -� �-�I -�_-� 5.- -. . �� .II _. - oses, At September 30 "1986 the ba - _` " ". `° ' I I ' } , -" , % e fund tc� ..I !; r .1Qar..s ,turn. n,i ar,othe Due`to cotter t.unds .a. ��I� I..L,I ���: I�51 I - ,��� ,� r - : I_ II.� o ," ' � z . , ,fro. -' attce" in due `rom=2o;othe"r ?sends cansisted of ,he'-n?tow' - _ ��- �I ��.. II I.I1� . -,., m H M fH - - tik I I _ " _ Due from. ,. -- .- �I-. �I ��'-. Due'to .,� .... - " -- .., - - _ ` C - - - { rU_ - - ._ _ - _ - . . Other: Funds ,1 _ - - Other Funds _. `m - .. - .. _ - _ - . � � I Fun - - . 5 � fa0 1r S 9 �. �I� ,I- -. -I-�-�II-I� �I...� �II��� :�,-I. .. - , c"a W U. m s II o F� F~ > -_ - t ,a .: I �I.I�.- � I � � I aefler3!," � �. ��.I. � .,-� -. I . -�I. �.I-I �,II � I : . -": `° . - e . - Spec.ral'Re�•er7u=. , 1526 _._I� -��I-�I- -.i.t:,I.ILLI:r-.I �..LI. 13,019 .- - rsi - - - . - f F%k � , .- a' . Downto%N,n �£,vejC;.' ent A" _. _, -..--L� �. -Li�.I,: 2,074.591 - - - - _ -`. -. . IL - tither gin: - - -_ _ ,I ��I -. ..� I-IIIII II..I-I-� -����L ..L . - - - . -- -� �. II ��� . - uEm Ss t{rF_ � ��. -��- ..5 I. -.-. .-: 1000 = : F x I �I� . . ;V-- t.. i_ . i-1l- "- -"- - y - eI �� JI��I .� ,,- �- II�� -I .I.�-I. " - - .� �� .. -I - - - -.-. - - _ _ _ cu tD �i "^ - a c� Q ". Oi- a:+ r - .."' c+i u1 " �i "" c13 Q€ O _ �I I.�Ir - _ _ . - � " � - � i{ a ; 2,600 --� CT�I-- �� �� I�iwIL.�.1.- c-I .�, ��- -��II - I I �I- _ _ - _.0 _ _ _ " - T h r t- , -it _ _ . - t:U=ture.ar;c, Re-creat:on I - �I -II1-_ II,- 6,27 8 5 _.- - -I� .. ,. ._;.9�, � � - � - Publ;: tease - - ' � - .I ��II��I�- . �- IL�- � i-.I-L � - _ - o " I . :: -, - - - - - . —"tterprise �-1ncs -, - .- - - _ "- - - ',^.. 04 I�I I- o�-I� '--. �-� - - � -�� - - _ ., _ 'A. Ct - - .: .. - - -- _ lay cv - _ , . � - _ it - �nT "t '_i F+ - f94,3' � 'Y, rK? 3�- r1?r L, . - IIr --I,I. -- - 253 199 - � - . - - _ : - v -. _ - N_". '" - - # - _ - I. � , .._ - - - - - - _ t ad CrterP�=Se ,..rtt : - a to " 6a. . - - - F i � . - - -, ,„;000 . _ , Conventrcm Ce,rl"e, - " 170,524 - : M - oa Q _ i i ,. . � ; Govt. Center Parkinc,Garage 11 Y 587 ". a' . .. . - - . - .�--I �� . ���- - 1 �1I ?rust and Auericv .. - I -. ��. --. L� .- L-�- �. -- 710 527 � .1 �-, '*. _ "c`,n" I I i" : - _ , II . - Pension %acirr'.in{siVaT!o �.I ". 1: to ' o o`-" i { t,; k;. �. - ^a r• ., �, - �a_5t t�_.r.�«„ _ .. .I� �L���I� 1.361,878 I�. I _ _ ; o t . �. +, { 5; ` r-,�. �II.- ..L ry '0 ; !}y v - p TM_ ,. is � F�- oI - L i� - - �� .I I�I�-� .; �I� _ , _- ,I� ,- �LL1 0. - - - .��,,-.� . - - -II ; I . 7 at ;t - Sa, , 9b ni�0 - �I�.L.�� �I ��-I .I �L� �I _,�-. L- �, IL_ . 54196,600 . � _ �.�II I. ��.� �- �_---L�_L- _ I _ � - I � - .. - - - -. - - I-i -. -L� I-� �- I' .L -- I� I -� -: - .',I�L,I �, -�i: t - i .-�I-�,I�-Cq_r_ _'"� :. - _ . _ - - -_ _ L - - .. I - 6. :t3l�E" F.iiOM OTM.EA OC3tJEi NMENTS �I _ - -I -:' i _ - , : F., i °' Ml � 1 I -L--� . � I,. - - -' - - - - - ,mi�ants c;.,e±rom otter governm6n:5 k ;r;:ar:=y r-_--pt sen*s arnounts relating to grants_: awarded by:othergovern - �L.- ��.� 1� -.�i - m - 1 �a a ' «n - _ � - _- t , . x i . menta? agencies ,and '. ther• ,ere, vabFrs from sialc_ any; ,:,', a' gr1wernments , I��,-� . -.�, :: ;, . c � o - � I.I.� �III� .- I-_. � ,_ .��r L� �- ," 3 = - _ -- �.t �, - I - - I�� �- -: m - c� - _ a ,n - .- - 1 I�I��.-��.I� . I . L_.. I�.�'-I..I�!� � - a _ Q V i t i_ _ t" i" i E t- � i - . � :. 7. " PROPERTY, PLANT AND .EOUIPMENT - - : - 1� . - _ ::.. - - - a - Ct - tD T ? - til+ - `: -" - _-_ _ � _ � - .. - . t -' CI` ? h r", ,i .^h" n �, `-,ri ,-� .n 'nrr _ - - The 160ow nC 1 , Arai 'iA. the vear ending September 30;::1986 I- - 0 :a _" - I - :s.a _,n.rr.a . •'a-.g . , . _ . i, i:fs5"ei .":car I�,, :- IL� - � - " Balance. Additions:- L�� L.�,.1I: I. Deletions: Balance,- -I = - - - - -_ - - :•- 1 . - "" October and ��,..-�- ._ and: " September 30, -" I - c� o - o 0 ' L�II��,L .L�.4��� � 1985 Transfers L�I .--,- LI . Transfers .- 1986 m_ j m � o i I I. F . I I - I . I - - I -. - �-:-C �� -I --------- I , ." " " - � _: _ I -.. , : Land - $56 ,0ut 0 5 - I . _ . .: 58, 7 51.762 $109.007" $65,69818 -. D _ Q'. ,I Lj.��-- :I�1�I. - L _ " Suiidr tg 8 4r rovenienrs 26.533 ?,3 5 7,'8 .I� -� - _ -1 I -= ."_' 26,537 883_ = - 'a - _ - Machinery & quIomen, 24,682.57 47; ,643 - 1:204.996 �I 24,955,220 :_ - . = o ,i " „ '., . drneroVemer�ts t?ther'tha� lu; FjFr ,3a,8;2`.8 �2 238,995' ,�� �� 305.946 161,745,944 J _ c". a: I��.,.D. �I� I _ . - - . . -. nStrllCt!Ltr . in Pt F?GreSS " -2 a 3 10 .1 - - 328.779" ; �I �. .. .. -. . 10,417,451, .L � 52;270 305 o, o c�.pn� ., - a "�,' - } cmv o 1:' - ��:_�ZW �, LI I �_ -. -,� � _„ - a " -" I L . � T ata� S' ^0 - � _ 3 343,22r 342,802.357 512,037.400 _- . $331;108,183 _ .II.,..Ir�,I �- - W - . t - ��I� .-1I� �� __ I --!I..I�I.�I.Ir'-I L . III� _._: ,: 1� .� � .... C, e, - IC- I�. III�I.�.� .�-I I1I I ,. A SuTinmar - — , jI - F.f.. aV.r t- uiUrnent at September30, 1986; is as.follows II-�II..- p. : " - �-- . � -, r � 1 _ �. U. � LI1IIJ I-'-,� � . _ - � � ��. - � .. I. ' n� ar_I�I� n- � -� - - - I _ .�II- - _- -Enter ..� - Seery ce! Q . E--C� ,'- L- I- -.��._L -. --rise _ - - _ Land . .�, 3u;.tdtngs and iirtProjerre ,-s: - �'33. ��- I� I� -"5 401 a w _1 � i F- tm h- :M C m. - m., �" : (a - Ci- 4 -L-� - ro "_ c " � 5?.343 . 882 4:- c .. , .��- ,-�.I � ..� M2ctttner:� and 1 u;pnicr.t --. �I- 32 883 CCtriStCUCt:U^ in �rG re_ - g L� I.-r _. -�.- . 22.927 658 l. _,.. -'--, � :, C J �.: - =' - -: a y:, -. a- ", n r.. " m =,Q g. a:"_ m -� -. _I.I � 3. +(}6.921 : - - - -- �- Total C,5;000.135 �_-rI -I 1-_. .. r: - G _ rn - _ = m, a = . - .�-1 -�I �Iq�. I 7��� � . I 1I. Less Acne muia,�.- r II,- .- r-,� 27,335.941 W. ' " N o - o. y..U.. a = :. - . _ -" _ - c E' a - - ?. � 3 . �1 .l � , _ € ��. ,.ictt,t,n .. c i27 {�11.265 - - I I f I- . _ « m - �-I-� L-���,,��- t�ief _.....__.. _.,_ , � - �.27.388.870." �- -.I.� - $1"3,630,478 "" Z v '' o m U n b y ' a a" _a a -:.,,, - I � - - - -- I� . ===---� - �� -. _ I I ,-_-,� coo L m m �., u a. a3 .� �. �-- -�-��1_ � I-5 —.-I .- -�:� , - . -" -. -. _ r . - �- " " - I � I L ._� � - � �- �� ..� -I I�-- I - . _I _ - _ _ ,- - O a - �,- Lj -I �_ - L I.- I - -.. . . 1�� � . I -: q � i a - �-� �.L .��;I.. -1 I� : I I . - -_� � �- 1I .1��'. II,- ��I �I� II, �_. -.� e II - .. �I�I� * - - I � ,- - .-.1 , I ". - -� _ -:_. �-I� -- 1 LI I� -x �L �-�-�� �� I��- .�L.� -� r� �� .��:_7. � - � ,. . � . . I - - . - - ,,, � I - . - � � � _f , . - �:�,�]1—� ;I r'_�-:_.��I �4: ,I��_ � I �_ I._IL� - :- I�� -.: ,-rI ,�--I2- I��.- II -j�-.��� I- �, -��, : �� I� - ' _ . _ �-�-- - .� � �.-".�� .�� -.�- --.I �. .-�- �_ I���� L�I 1I �I- -��:_, _L �:I-I- %��� -�II - � I�- �.� � � . � �1:- - - " . , - . -.s L1 ,,, � :I-rLI�I.I.I . :: 1 L � .�-� ]-�-�. �-�!.. .�_�, -.- _, -- �� -1 -I .-�.- -,I�. I�I� .� L� ,, �-. �� ,_ I1 . I.I - � � - � � . �,*_ .- ,-� , � -_.�-I�I_�I11��I 1�II1� �.I -� -I�- I� LL�_ �- �. __,� ��7 IZ. ,-� II .. _ . .., .. . ,._ . . - _ .. _ .. . L -� _ - 1r - � 'I � ,.. - ,- : II_.._ �� I� ,-� � , j � . , , , - . .. .- - .. -u. - '.. '� �, -•..sr,"cw>;«...e.,..c.«.,.�'.......-a-...,....--:..» .. _ _ . .- ._ ,., _ _ _ - _ _ - _ W _ ;f-- r i I __ _ - - -- - _ - I I "I'm �o' --. n , :. ,..:-, w-,, s:.: ,. _ -- - __ - -- w -,,:.:._ .,. _ ._. - .... -.. t , .. . -. .. - .- . . - . , .. .... .. .� ._ -.. .-. _ 'fit``' - - - 1. °' -- -.., .. -. .. -. ,.. ,_ ._. - -- : . -..: - '. ... .. . - _ ^.: ;F - - - ', - -,. - - .. - : - - - - - - - - - - _ - _ - ,; ,, .. : tember 30, 1986, t he bat At Sep . �''R N. U R - A - a= -, N O� - - - - C - - - - - n - oses. UrS . enotiaeT for specific purp - . `tas fund to_ - oG _ - t 4taa ,_ rone = f the if - .... -: ,:. ;.. Due t- 5tefl 9 :: c W7 LL V . - IS�iibr15 :..,. = Othends ... �: . IDUe from ,.. - i�th er funds - C N _ - . _. -. .. N m Q _ VY - _ _ s1,J30,785 - _ -. _ _.. - - - - - ..:. .. -.. . _ - - .. 13:01- - - 11,526: . 2,074,5 reve'lopment.Aulthority - . :. - - " �. __ - ._- . ... di .. 15,000 N y ~3 r - - . - - - - 2 - - ~ - - - - - - _ . ',axes. - -'. -: _. - : . - _ - - - -- ., - _ _ - - -. , - - -, - - - - - - - , - _ _ - - y'J �I 86 275 - - 1�e•._.. - .. - -, ._ - - '17atei7V0 -__ - - — 0 W j n m' - a - . - - ., - - - - - - - - . - _ - . ". ; e eation _ - -.. - �. - _ . .- - o _ ; . - m c n - - nls: 594,304.- .. - 253,199 { cad - . e f tbff:-Btreet .aPef4d.hg .; - - ht b170.524 : N o - .. - - .. fid 15 000 ... tse - . h enter`- - -... _ garage - . r lP,a*ing ; 0 527 m - owl r� W Ti t 7 . ehc - _ . O 0`9. i w - _ . _ .. _ -1 +Hia ajnastrataon . - 0 BF o - tasion fi wst . , 2:0�5 ` -==__7__ _' � _- _ - . siofiiraus"t .,:.. - $4,796,600 , _ . - . - E E a� d E E mG C - - . r -1 - -, - - - d a rr m � - . m — ' vO' - . .. #31�1�fIE�+f - - - to rants awarded by other 90. 9 . - _ C �, N O, resents amounts,relairng. - , rir a alY --. , i= gove tnents r vernments local,�9a - N m C m N _ _ _ � R _ - " fifes frt�Yn Mate and :°-. -. iva - - .. __ T O �7 _ - - - - - - _ _ _ - - - a Lr - _ _i O - aju7 U Q.; - - - - - - - - . . -' 1986:.. HD iUti for She y ear ending September 30, - T - - �cafar+ges iri `geaetal fixed assets lance, . tail ,Additions Delet�ons Ba September 30 - c ' - -' _ Batance, . and r and :,s _ _ tbobe Transfers m s jI - - - , . Transfers fib - o "'_-' - $fi5,598,83'I ' $109,007 --15fi�56076 - - _ 26,537.883 :. E _ - - _ R - _ � 2632:705 5,178 g55 220 iehts .: 1,204.996 24, 24,82 573 .: 1: 377 fi43 -. -161,745,9 o , ; c C m m t c. r m of - _ - ' 305,946 �2,238,995 _. hunt . 70 3 - $J5 2.2 05 l39a912, 10:417,451 5 .. o - (y a mt O - > - 4, tuilding. -_ .---- 2;358:977 0 328;779.:.. c ! �- - - _ he55 : ..r---=— .. - ----------. ,: $12;037;400 $331,108.183, _._= _ - N r d - _ . - 30013,226 ,$42:802�357 _ _ _ .. .. �' . - - . I -. - - Q . C - _ -- . .. . .. - _ _ .- � - ' . .... equipment :at September 30 1986,`is as foI lows - -Q - u ': _ - . -- _- - _ _ - _ - -_. _ - _ � - - - fi 'Ftand hype 1n'Aperi�. tartand tnternal - a - __,:' - Ent rise -Service . - _ - H F _ =) - __ - _ - $ 12,302,988 - $ d01 - tmu ' CM N - t m- - y3$,757 3 43 A,407.882 Cl C c N - , - � f __ . -� -. t4hd lrrtpriovements . - 22,927.658 - - 5:532;$83 cc _j . � - - It r - - . - ear and t=quipment _ 2l - - . _ 3,� c' - o _ _ -_ ....:------- _ frtl�tl g ress �---4� -- ,m.ro 27.;335.941 -155000.135 W, ~ N - c _ - r - _ w z- - - 463) 1 .:: (13,705. - - 27;611265) pep rec ation . {�__—-=--=--=-- a� v L ~ - . .. - w _ _ � -- trcurnwlated ... ._,. $12 .388,870 Z . Z w j - ',, C' . - - _ ,- . .. U _ - - . - - - ao..Q - . - ' _ ' - , -: . ... - - I' `,a �, . ,: - P Y�� -. - .. - - _ , s ,, .. .. . - .. - - - 4_ 1986 the city drew down $3,o89 206 on a $5Xa,40 Pran�isso naxe}irq they i ng_ t© the Housing and COMM tau r issued under Section nt Urban DevelOpment:(`"HUD.",} wniparkw6st_ itsa� t,sjjy fund the Southeas' ale a�ments of $k 9s6 OQ ws begun o Alugtislr l A41i rtnc Annual p. P._-_ P able rate.: income are pledgedunder the note to. ads<ot The annual requirements. amortize 68all00 cbonds, interest payments,ot_$346,2, , e astfolI (irv, tth4asa 0 tncsuding tehtt��att, Year Ending Gerteva6 Specral September, Obtigatt an 'Obti - at Pairt%rpaliaerr R ol j 30',�'986 - $ 2E1.T t3 S 4,0aj; .. -1987 S".3� OftE 2: , . 24,:657.200 ' :. 1988 . 4,052 3069 2 g7� l 1989 2312 1990 22,613 4,054 4.653 . . 2 5w1� 2 21396 92r441 -_ 1992=1996 22.702 _1997-2001 68,634 22 54g � =2002-_2006 43;841 Thereafter 20.115 $33Z:533 $t24i445 $2 t09� $38 000 OoFloattng Fixed~ Efate Spectat �ttlrgati4mt"1 ;,? } .includes debt service on the HUD loans at am assumed rate of 7%0 and the nance4h*OQee_ S5 On.December 27, 1985 the Miami Sports and, F_Wbl Q obliga000 de 0 eg1 Lion Authority issued a $i0,000,Q00" Subordinate olga" fa 1985, to. fund a permanaen>ledmeO�the. Charter tow ftftee emp p,ropeat,uCi Lion Note, Series exhibition center. This. Note is.securedby , p g " iif_the 3%°.'Conventtor4 De- statutorryE Itrrtttatithl pirl , Authority's allocated. portion. but on: a basis subordinate and lun►ecia .38.13OOf}i matelV. � 94 veiopment tax, the pledge. of the Series 1985 Floating/Fi%e_Rate$p The Note proceeds, have herd in T- -$1194,�75 04%of V ing at Septem444 {}bligation Bonds, reement between escrow by the Trustee pending an �9 to be dede $ &7 OO a t64 the City and the Trustee as to the prolects such an agreement notbe reac hed by; mbel3-M the. Note. Should refundedaa the roceedswilt be - February.1987 the Note P ._ Sept - timeratesubject bank. Interest on the note is at70°t°. of pa Interest iSR P, somad �aE1gt� 4 �� Re�ienues f11en to adiustment under certairt=conditions, a rt►ents of - able quarterly,, with,:q.uarteri.y principal-p X While the proceeds Debtservic is ag, 1312,500c ommencing: January 1988, the debt:service ora the Note of the pgaventip, have been held, in escrow, fain tetealiQr►ea aj has beeri.self-Liquidating_ 16 for a.description:of, issuances af..deb.t_-" an b 4gQMgPCT tat►e expel -- See Note subsequent to September 30, 1986,_ vieie other thatu' r G. SYNOPSIS OF BOND' COMEN'ANL1rS eient tke� utd restridted -bondquired A The various incienturescontainsigniticantlimt tatio.ns acid restr: ictions oen o ali d� bw of you e - + Variot>s i+ d quirements, maintenance niunimum through restricted accounts, tundst requiredt tad T044"nderit,.�e l P -:various -amounts to be. maintained in various $ m revenue bond: cave. rag.. suer.- h e: eauisi4etsk,irtek.i and minimum ancisignificant debt service re- : Aecqua of major, provisions: quirements follows; service is Pie' ce►4At,thois tb1 DebE ' General _ Obligation, Bonds t ro ectjl=value in n( exemp t p - R ser�ie Un(t. the S R1u$ Ft4l vided tor. by a talc levy: , liensirom Pool and collections on. assessment and I r4 _ r ,._ r of Housing.anom rtn 1 5$ �i00:p evDo mentRctat C974to.. tsar` e("HUD"). g 1 &A, the Hour ng and Community p -Diring 986 the. city drew ,down 53 089 206 on a $5 9 - Urban Deve opm nt issued -under Secttdn �i :... -SoutNote.fsi, Interest is to be paid' anrivatt�e an August S eta vdrt Ili b oAugust, 9$ Att ! fUD grartt5 and related` program.. nd Annual p encipaf payments $ st prntert {see 0 i es:: led ed under the note: 1 g0 g8 ti211y fu �SC;O 0 w egin n 1 ? 9. �ilfl ii assu nts mot . _ rased of the fiollowtn9 re re utgreme _ _ to. a ttze all bonds certif;catas and other payabti?s rsuts~andrng. as: of September t 6- able -rate. b:t36 ,at-et�mp; 00 a 5 _d c ! - ( q n .hr u ref r+ tarsi; a ments of $346 268,0 are s `oi>o�r � Barr ,s e ebt : - he dims interest,pay.. m �errn ID . s tttnetal�crtg- _ tes -: Gent tnclu 9. 5 25-730,000 ei ht issues S Ending Special lot a arters lmpro++emeitt Bonds: g ° .t0 11 °Io u es;atigmg_ g Obtigatibn Obligation �tj participatiort-. Revenue PaYab Year:. Ending _ -at rat 'from 3 !o September rem °r rnitrtur g iirough b05 `trRerest twelve tissues, n 29,200.000 3U!_ __ r tin rovement 8°.n.5,430 ds:. _ y 3 6 ba$ . in born 2.5 't0ewe P ang' 9 t0 11, o at r71es . ; 014;interest - 9 1 87 3m$tucrfig ih 9fi ies Bonds. ` 3.066 endAecreation acdtt 21 450 000 t?ilblicparks- interest'at o ,. , 1988 �Og 3.'69 3 fi _2003; xnat68 urifig throng_ ofu Live issues. 30,830.t)00 . 198 in prom 3 � k `to r ,b aA 9 - van rssues, 9 � ��? � ST� " 75•t• ° i990 d,659 2.r3'n " 960 dates 9 2 396 ds. ate - t3on _ ° to l i to ' -'- . - z ttmprovetnent from"310 r . Sewe tes ianging _ Z2 513 85anitary . 2013; interest at ma . 'goads: i9fit issues..' - 18.845A00 , �hrou.9h or ; . 1992-�1996 E33 �� '�? 37.855 1 .itetunng 8 =161prbveineni 5 r-f` way m irbm 3% to Street and t7r9h — - 43841 _ - lil: interest at rates rang 9 92 441 /f ieced :Rate -Spa clef ,ttiaturmgthlougfi �0 Floating - _3 _ 1997 2001 'a3 � ' 68 2002 2006 `�� ��J a j7 �14 . ;arias 19�.maturin9invariousamountstrom 3$.000:000 Thereafter 20:115 _ 't {�--------- iltiamrPo and Eachibttion Authority' at 70°!0 of :Prime rate_ bligatioii Bonds. weekly fi 2015: tT+terest rates vary circumstances 995 xfiroug nder;0ertain �rrcu - 520 09 3202.E?7 S7,363 rrt:u Libib c-to'adiustme matunn9 38.355.000 nil pbtigation.tRefiunding Solids: Series 1986, . e born ,a.5% to ? r ° a _ 3.. a> n B t rbugfi 0ltt; iriterest-ratesranging 30,265,000 t on „ h 2o1g: interest at rates 1 .Includes debt,sery ce_ ttie.$3$.030 OOO F'uat ;r� F e i '�' Stec: Cbtigatta onds.: Set ps i985 her 155ues;:trraturing tt>ro 9 . 0 r - .ranging yrprn y%lo-11,5 ,1V, 5232--- &r 5--0 = - S ,_ ;,red b proceeds of Such bonds The tare! general _ - ^ �tih; i- Y - the Cif'* cr' , and the HUD loans at an a s'ume�' rate r, ,a ttte Lase ifunds)i- On December 27. 1985: the Miami Spo. ty d b b' g b1iitit�rt li�bta�ls.E {: obligation atton debt outstanding is timrteii. by iiiiet'aai g lion Authority issued a St0.000,000 Subo'rdinate'Ob Via- charter to #tfteen'percent of the assessed ryon-ex' Bonds.. _ tion Note,' Series 1985, to fund A permanent ,tempera'+ PrnPt property -value: At September" 30. 4986. the t 6arage'Revenue 0 c ` t rinveotiofi Center and ,Psrkrrrg 0 0,75011W through 000 0 0 6o exhibition center. This Note is secured by a pledge ,t *.;e due rn instaiimerits ft 510tt'0� - in" from 6 5°_o to 8:54�° - tq q statutory ltmttation for the, Ctty w ax rrr eiy Authorit 's.atlocated ortron of the 3�� Convention �-'Fy` rates rang . 9 P e as apor trrierest.a, g,:Maturing through _ = 16.275.000 , - y M.L.- tc, t 38 . .t3 000 providing a debt margin of approy S, rein Revenue Bonds:'Series 9a A.25°s; to 7:75°o velop'ment tax. but on a basis Subordinate ar,d 3u rraatety S1._19a.016.000 after consrderat n e �arkmg - Ys :.-. . vgt,ngf'atesbtintetest=ranging through 81000 - ro>€?mateiV t)o9 at y the h use Revenue (Bonds. maturing pledge of the Series 1985 Floating�Fizeo Ra-e 5ce�..3' wt'1are q V y .n t'rterat obligation bonds. outs an - - grange t3a - i e r ,° _ _ to Pnoc�n aghavrr heart he}` �n µtie i5 �Op � n�er 30. i986. less app '. Obligation Bonds The Note rig 9B9 .+merest arils" Special Ob-ligauon Bonds,- reern+�,t be `V� S3.6r8...r00 a b n the related debt Serv'ce `ur d' 6vtrrrrnetIt Center parking Garage Spec trom -. 13.720.000 ` G escrow by the Trustee pending ro ects to be !uncle`' bV maturrag throu9t,2009: interest atxates ranging _-____,___— the City -and the Trustee as to the p t reacher ,,r Generat obligation bonds authorized but unrssuea a* o 5625%1bE.t#7S°o - September 3 _ - c e 987;Ithe Note proceeds will be rPt:undPd'r the Septemti o 1g r the Note. i27500 90.Q't b,00 Februa y r and Parkin Garage t2.625.39�x r n e ate subtec' �0".,,-qf P ; t^ nvention Center . i :6ess L}nambrtized.$ond Discount- _ $ _ ntP..rt rst sS l 'Y �Sf10.��d 0 +0 ;. r .450 606 —_ adjustment ceruartertytain nprri�ciai payments u' Revenue Bonds -- with ba eves vn i able qua'r erly, nwit q Cev Js provided by a pledge net re Ben ss ` 4 commencing January 1988 rlUhike the Yra Cebt ser.tce +s p pledge r�` Uef $312,500 of ±he. Convention C'enrer-Garage a r latest components at interest r:�ie-, raven ie4. nd 1ertii-annual to bii 3ter; ,. have been held in escrow, the debt service �n the ��`�``" 2; n te!ephone an telegraph exctsa=`a wit tsst�edS1f.175,°000 et-. o 4olo through 1992'Thle"City is o� g f :r has been self liquidating. ».. s ,,t ;t i,t the y from 4-S° to 6 �s�d by a ccverant and ag.rePsrtent of ttie City tg pro - city g86 (ihe'Ce'rtRiratesjto.. a'mentS underthe:lease only MOM r � See Note 16 for a.descrtptton ot, iss.ta ,_ lib ,he a:K.tent necessE�r,,_ eWenue''# the ;fie make rental p y C;tv burr 11 August 1. 1989viequtp eneral revenues of .the' rtbn Vf subseque,rtt to September 30. i9$n , cte `�° #atoug. 9 appropriated from. g LJ,iter thr;.a valorem praoern; raz revenues ��r ng:ssefitial .City sexvices acid io not coilslitutE: z"_ C. SYNOPSIS OF BOND COVENANTS cjf , nt tp make up anv def.ic�enc� n certa�rt ;�f t`�' r-" t ,$cquited .doting the- = sources other than -ad valorem:taxes: The oblsga f requline.." it to make rental payments does h s coo. jimitedand - the C y. City is r,btigated t- ;;;snarl restr�reu `und aric; accounts debt _i i tlicatas:rePresenta of the City for which the a ioUs bond..indenttires contain s'gh,f,c ant it .: sunclivided obligation µ The van and evade form 'ot taxation. Unexp i7tjed pr° tatlons' and restrictions on annua# e se °' e re- ,hey u u;p ten s o of and t Various funds nd accounts held by the Tr° Brae era tttents' t© be ..: levy or pledge any. - - for in, ilia `-p to,�l c}f rr�c;n.es e j;j,red to be:.maintarned under .the tersY?5 �f : ' "basil tehl pay qutrements, main rr,rnimu,n - `- a nee= eels of the Ceritflcates.are accounted , j�d taialcU ` > ate g _ 9 ,. rnkrn<3 rr,rr, -,. Trust-lacier}tutu pursuant tC3.whrCh the t�onds Nero,s t�BTtT io x'i tease put cfi b S . tneni Acquisition Capital . Pr Fund a thr ough h various .restricted accounts, amounts to e maintained in a ttgfiitlanctngttiitte quttirrte i er 301 1986- bond s include September s<intrY;lry -sued Those Ser-�e� •artou.: s se #unds or accounts pertaining. r s fin the Cif _ Basic $12:268458 at Sep t_ ittased teesi Y rsio an ehe Re :averages � � , e the Revenue Fund and i. -inct ai-Coinponent i an <annua l? U ant debt 5 ry r o Redemption Accounts. the Reserve L c�ut the Corstruetton Fund tyre Suppler 0 r r n mtnlmuo p i and Replacement Furtrt an`' f major p v � ns is Account qu• ements fottows: d signifrc SEgrvic 6 is liar..: R _ perty vait'E Q. 'S F no: y - ' n a: ra acts (i- Gehens neral _- -exempt arrn p. l Obligation Bonds `rpius F or by a tax levy os ne and collections on arse a I tl nd :lnsuran =serve: Redempfion, a ce and Condem - at; an Award Accounts). "The nature, purpose and be '- requirement of :these funds:"and r.. n --ding requ account aes , •'' are similar to those .describe - e- d abov e _ e re to ihe. ,a! Sfe' .rr,w Convention,Center: z Special .,Obligation "Bonds r e y 513.720 000 Ma ^� ` "' ;. rvice is provided by a pledge of net revenue t� 'C;overnment Center Parking Garage and utlls �; ; r: "=ces taxes_collected "by the City,_from the sale ..,,'aterand gas -in an amount not to exceed theprirr ,a: and interest requirements in the.ensuingfiscal - - ' ear A: reserve must be maintained equal to:the. �_•. u r `ntum"annual debt service •regLirement;Various ;= and accou"nts _held" by the Trustee include the =a: L F-.e=1ue.F,und. Bond Service. Account; Redemption - A a Deserve Account and the General Reserve The nature, ;purpose and :funding require F. ,r�r rs ref these .funds -.and . accounts. are similar to ~ - - - 'i `' ' ,, scribed above relative to the Convention -Y aw -:e . _ had -City 'o a. At September 30, 1986, n de the t .t,* �,,tt the Trustee for these bonds approximately - a- - a;:8,000- )nciuding accrued interest. in the re y. r rr- = "c ; ,tea tunas and accounts. 538:000.000 Floating/Fixed Aate Special Obligation �•+ E: .. Bonds, Series 1985 - - - ` F , r u ' tuber. 1985; the roceens of ;. . t.', .. _riese Bonds.. net of original, issue discount of, _were distributed to-various-reserve,funds ono accounts t1eld by the Trustee "incompliance with .,;r ; a`r fds pr,,v;s;ons"'of the .Bond Indenture. Those. un n -`wry :5 accounts pertaining t these provisions, sinelude ' Tax Interest and Principalac fund. the; Bond. its the Debt Service Reserve:"account, Ae- a e re {sex _ E aWanneat Reserve fund, the Mai ntenancefund.the - - - ;apttahzect Interest, account_ and se ac .. ^t. The Indenture - -provides that, -for the:"tWen S c� -Count, the issuance ;?.t= month period subsequenato ^ wn " • �P: Ar, =` " -late +the Capitalized Interest Perio ).:all debtsery e cayrmets are to be made from the capltahzedln- + = .. v . ataP: � a° te=sst account" Receipts of convention development .�~� ,: , ra,•' fund and tax n proceeds are to be deposited in the Tax ;s!ributed during the Capitalized Interest Period to us ee eye s � in, -,e, mi3:e . +r Iir ;v+no `ands or accounts as follows + L' J t -p account deposiist0 re s s o th., Debt Service Reserve�ti nd M ded o using balance to 53,375:000 (fully fun S16,275.000 P.arki.ng System Revenue Bonds" ciosingy. _' • to the Miami Sports --and Exhibition Authoniy� ueb, ser,. .� raya 'e ., :, °r• ih@ ''evj:T,u S =' 3 -+x_�r r .n r r E; „ -,,:_ operating fund: $30.000 permonth upto,$ :tie ti . S,fee, a �o .y 8 o .CS ,...5 �s ( " �G7 }?5_" 7961 ay.n8.5;5 vt, ac ;a bonds Pa,acle .r •rS+y, . adjusted by the "consumer price index,' -:�� o , _. rr,ent of . 913.)tl,' 'to a�L;00 'r::,r: u8,. • to the Replacement"Reserve fund deposes; t tt rr� 3r 2GU9 SeYtembe* 300: 1986, the C t r�au E n �_ � brio balance to $5,000.000 ($700,000 fundeda k i co tsE? 9' wltt'-the Trustee iuE tt-ese bor.C!S'aP closing)': =_ b St.98E,,000 .mciud�n a accrued rnlerest . e p:ua _;� ; - e o .he Maintenance fund, _deposits to bong. , r r r - r + , various -reset � e ,accounts These acr,c � r,;s c s>s;st�- a>�ce to S3.000:000 ($700.000 funded at cfosm9 of th.e'Parkirig SvstenA Funs tRevern e DevEr•ue anc and t9 Replacement -and General .Riaserve`accounist and • n of its.lawful,c9_1 try the Authority fora y, _ The Bond l .Jnu : r;; i'S"e any-Pr_r^cl In g Funj ' ptJ rposes r Cam. 3�-- , .i'•.i_ t`, �t"'?1.:.5' t16•3'.. .. 'x-ul +a...w. N .... ........ . _- .... I..e -'vk�'°'� A# 30,. 1986, these accounts andk funds, 198 sitsl�ingl fund i ii _September contained- approximately $t2,457,000 orr, deposit: state"and ln_eatgee�et d eposite t a car with the Trustee_:. agemffto pto�4cte+fo�at D. [IEFEASANCES OF' LONG-2ERM:0E8 . _ _ - :-ob tktef Seie 19: !fin August 4, 1986, the City sold'$ U55,000 Geneiat t9&3 Bonds ere9 egos Obligation Refunding Bonds with an. average rate: of . liabitityf forth4setf�i?ei 0 7-°, o to advance refund $2%820,000: ot• $eties 1984'." bake sheet: Aitt4a� .' Gerieral.Obligation'bonds with an average interest suftecttttacc4peti ra#e"of,"_10.5% The: entire proceeds of $35,551 00tT. naf�fassofi�5,.68��2� it et of. $2,805.000 Of original. issue discounts unde€-' 3,�-19W theiS.44 C writing fees and other -costs o f issuance): were used rates lo,nteirttta ttieige ' t "urchase U.S. 'government securities Which 'were,: 'With- gate, debt se€4siset.E� .P .-an escrow deposited..in =an irrevocable trust P�oxirttate[>t T�,4t1 a9ent to provide for all, future debtservicepayrnents: saving%►saQpraxi :.. , on the Series 1984 bonds. As a result: the Se€ies't9&4 f pei4ipyieap,% thek-Gi bonds are considered to be defeasedanctthe liability 9et1e€ abtigatio.an` for those bonds has been removectfrottrtheeneKa�t proceedsy`of to €ekp. LongTerm Debt Account Group. The refundingtrans:. trust toiprovide tQi �; action will save the. City aggregate debt service pay-' orrtkte. ct bondsk. A= to roximately$1,050,000overthelifeofthe ments o pp th- defe, edibona#`_ Series 1984 bonds and resulted in' pt.valuesaw- „ r resen ment's financiat:state of approximately $1,600,000 thef.follav4kngadditiaml Trigs C7n_ August 7, `1986, .the' Department of Off Street sidered defeasedt._ '= Parking issued $16.275,000. City of Mtiami•, Florida. Raeki�n9N Fad ititieiil Parking System_ Revenue Bonds; -Series .1986,,.-With rate. "of 7.65°to. ` to advance refund Se xes Seri esr an" average $t3.545,000oftheSeries1983•bondswithanave€.age Series:C = =merest rate of 9.96°to.":The:enti€e.-proceeds of ap- series 198� p roximately $1.5.4;Million"(net of $875,000 of under- *' and : other . PawkingReveea writers -" discount," fees . _"insurance,, 00otSeries issuance costs) plus an additional'$6550 Series t91- _ 9. FUND EQUITY ieit fund equity-- followingindividual funds had a def at September 30:. t98�. TheAmount Fund" ' •: $2;83%,305 Enterprise- Parking:Garage S,265:7711 1 internal Service . -'Print Shop = rout then $2:a68 Q3 extraair r Parkin Garage Fund.. re sultingprimanly f . he deficit in the g. oftltilityServiceTere`�enues Tt►e+deb4i4 1985- will be eliminated by future"'transfecs to be eliminated by operating. surpluses it the future - Se tember 30;:1986 at P cons oft fire f9.ltt 71 Fund equity in the Enterprise Funds- Retained Earnin%S _ Rese�vedtoe";, Const►mO _ e u and Reven Bond,- ontri4� _ �•..�Qita tlnResarvedl Retirement $- .1:599,789= Oft -Street Parking G&O Enterprise Fund �2a,9 6:q -. t'.6- AI.q Marine'Stadium ,9r7771. (67Q1- (t9: 19akQst S� Miami Stadium 2F.3t2.: 8 s, (2,394,86% 548 Convention Center "- Auditoriums Golf . t.669.041: r5;t42 2a 8G,36`.�72� 7: Parking Garage - Other. _-------- - " . $Fl2_ $S n►at ion reg?adingF ttie Enterprise Funds Se": Note 13 for set f inanEiaif infor ect SR. i� 9 - r iA..C+iIGES IN AGENCY FUNDS aLcr�atni #os, the �2 OfID 000 refundable deposit by.the CableT V, The City s Cabze T.V. Bert y Ep>>�t is- 1c ';cet,see likes The �henges ,n the. C-ity's Cable T V,_Agency Fund see ana :nieresl if erecn. hfct, s,_pavab+e-to the area .. lot lows _ .cssatS and, accrued Frlere .t $2,154,710 yejr,n,r, st ye8t 228,430 . { 1. (159,771) � > t � �"v ' e n'�- es ' t c e 's I 3t1e ...ergs r,,•�- _ s# :�<tr $2,223,369 _ I ° >=c ;�, 1 €y 5s"crs s r !E,cerr ,.t _af,�c er7sal�on programs for its .employees'admimstered. r;4, sL.Pr1;, a+zd 1t i> t';; �r �t ;;"t1}ors t,r r ;r ; it�e eterreci compensation assets anc! liabilities wereac ; 'ssuan hF 1C s in the erts -r'A.drx„ ;ssllat'(n Expent,a.,,e T"., ' n n response to the > , .,5. # ,. ; ► 1 ce of GASB Statement ;. rF Deterred Corr, rr.s 4a . µ�lenc.�X F,.Md was est�,i;':sht° r_sp : tr.; cr af,nt for these programs. 'The changes in the �o ' it r)c, 1966 vve,e :as '7oljc' r5. .- - ', � � . a? Pyc at k e r�=: f -$6,476,982 Co ntrcG r a is 2 46,239 " ; =westme .± ;nc,,,,n•,e 843,694 Benef ;c ;yaio and :err=,;t,at,c:- t ,r)01 (49 578 - ` Assets av, er)rj _ot year; $9,073,337' ` 11. iNTl RFUNl3TRANSFERS A sumoI-terlur,d ^ransre,, and _onlr!b.nwis r, -urd tvve, is as follows: Transfers in - - - - Special Capttai - - Internal Trust and General Revenue _ Projects ', Enterprise Service. ,- - Agency- 'transters from _ o; _ - - - - - - - - ref:'' :-1F a S 65a.SagS2.097,921` _ o 7.W5 M - - i;_ap,,a: �f `lei. - - �5 5.833.,142-' _ -2.590,540 26,703994 - _ _ 2,915 w ", 1,085 OOA _ s Wb 679.95� $a62A16 $2,590.540' S41,21U i. 17 5 28.026 S 467 G 4179138 2at3 00 0 13.344 8.2�5 2.088, 10383 906 - -. 2 6a8 F a h : 7.1 '96 $ 46.106 $ $ 8 90163 . , - 1 � ... � - .. !� � , :� �:, �, � ��-,` � . - �,jrl�:r'' - I . - � �� ��_, : . i � , .. ,1,� , 1,_` - �7�-*,--_�`�-- _`�'1�,---�` - ��: � �: , '. -'7-- "r, " " � � � - - � __ '�`7*:., ", _ - t ,� - - 7��;. - , ,�� , N, -, ` - ` ,,,, �__ , I- i I � - �, - : i � Z� � - , , , ��: �� � � , I - - -, . - OV, I I � - __ -, . , - I _;, , � - ; . , . , �'; '- .. ,- -.�. :� _'..� ,,� �,� I , � . , , -,- . ,, !� . - - : � � � --, .,;` " - - ,--' ---,'�-- '-��'���--'-���1--',�-""���K-, � I - . . 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' I a I � � . � 11. - � - . I � - - I � . L ' t d for property rid casu- I � I - � . � .� � . - �, Depar ments of the City are I I - - . � � . - .. � . . � - . - . � 1. � ,� - - � im ,,k,%OiiA,4 , �A - - � I . I i4j, I .. - k*kA#41,4r4#ii*q4�i* *01 "t-, - . . L I . �, . . - I : : � �� __ .. - .� i, - � J., � I � - � i. I - - . . I - . 7 I � _: . I - . . �.- � I �, � police orofessionat:iabiiity and public . __ . � . - � . - e I . , � � L- "_ altycoverage, including . � - I . , 'the - �� ,� - � __ ,_ , I � 11� � � � I , . : - � � . . � I ; . - _.. � . - r - I I I �L -_ � I - � - I �, . .,� - � � 1; , � __ . ; 164b"(900& if, * - - . q - � i � - � . � . � � � I - . . I I .. . utre ents of �: I I - I __ - lity,: based upon the cash req , M I I ,� __ . _� . � - .� - . : official's liabi I L .1 � I , , I - . . � ; � . 11-:1 � �� : ,� �_ � . - __ � -, � �,!�,- � o��'."11 �,,�tl�, �_ - � - . � - �. - - � � ., . . . � � , .1 7 _11," - - - � I � - -1 � - � - - � . j � . � � . . - 1 . - . - � I � . � � __ - � � _ L . . .- rid their relative shareo, the total risk, . r �_ . . � I . . � � w -InsuranceL Fund a .. I �, L Self . - _�,�� _� I � � � � . � - , ,,,� � - , : �, ��I;r �� .�` , _ I . I � . � I � I � � . � - . .. � I WAe-m -_ --j_-V:j,.�, �_ I � __ ,; � �, � � q, I � - . - � . I 11 � . � - - - .� �. - . 40*0al � - ; S,er*e_M - - "? , -, � _� : Al"041 - I � - � ,_ . � I - . i � - - .. - .. � rtain.;-asualty i - � � - I � - V. a: ___ - � I I tinued to purchase cei - - � . � � . - � I . The City has con I � - . I - I � I I - � 11 I . . , 2 I L- . I -1 .1 � "Otpabo I - r .1 - 11 I , . - � � I - I - . 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I - I � � . ` - 4. iw,�Iip - , $ -W?� _L I'll, -11 I � : ... I I .- r I ._.1 � , I �1 � - % ;�, - L . �. � � - I clairrs pe,rsonnel and an _: I � . � I - � � I - 1 - - . __ - vestigated by the ; - �. - � � 301,575 . t&375MO . - I reported, they are in - I I - �� *, - � � � � I I , - - � - � .� 1 I � � .!.,VA0 - . . . Z 1 ,. ��:� :�' .- I IS .91-304 - -ij! -A I 1 j : r - � , I 1 � �`-' -4 � � I . .. I � ' M� �5,833,142 - � , L � � : - . . -10 , - . � - - I - - _ - I - - _� - � - shed, � . I I I I I I 1, � I __�!* - I I stabli � � �� - . �, I I e � � � __ I � -1 y on a case-by-11ase basis 7s - I � - I . - , - " � -of liabilit . � I I - � - , , _:,:r . I I estimate � . . � � r � . � .- � . j'_jL _,�� :, - - U . � � � I— � � :, - � . � , 1*1 "04 1 - z � _, SZJ_.W , � - , ,192,001 � L. . I L .1 � - � � - . � _: - . . �:�� � . . I L I � � �� I . - �� � - I .1 I � ,� � � - - � .., ,�� _1 � I I � � � . . I � . � � - 1 � �. I I - I I � I � - Lr I � . � I � L � . , _ I I . � . � � � . : - - 11 r - . . � - - �. - , . .1 � � i . - : : , - - I . , - , � � , � ,40�2 J.�: z : ___ .� 1_� � i3OW144 -1 _ � - . - _ �__ L I . i' - � 1, I it .- .- - : " I _-, . I I . I � � . I � - . � � - - � - � _. �.. I I - . . .� - I � � I � I I � - - .1 I � - ____-_ - I cident,and Health . . I C. Group Ac I � � . I . I � - .,. - 7 i � . . . . � 1. � '__ � rough - � 1 I - -To! � . 1. I - - � I- ,,., ,____, I _. - � � - ,��- ': . -_ , - S, - z , 4 ��' : �z � I �;__ �. 1 : ,,�'_ , I � ., ;;SM95t .1 .;:� - - - "I ___ _. .. - _� -, 11 . 1. . "' - � oil - sq'i1W,40, "', `13 fil -- S6.579 95 : - ==�. - - t^," , .. 4h,� - .!"1121 ..- � � :, �=� I � . - � o - , � WQ� -1 __ I - - �_*, I � . � i -i. cOntribute-th - - � r� - - C ,�t' � I -.--- � � � __ �_ Certain employees and rettrees,af the, r I . �. � . . . I - � � I � ents to � � - . . I r � I - �, . uc M c)ens!Qr1,:paYrr! I � I � - I - I r . 1. _� � - pay -roll deductions or ded tions fro . - I I � � .� . � 1. - I 11 I - � � �: _��, �� - - , -1 � I . . . � � - ', __ � . . � - �. .. I - r I � � - . - . - . - 1. � �,__ . . . � I I . � � . - I � - . I - . . . . ' ': . � . . - � L � . � � I , ,Unds neces � I r . - I . I f "ne - - � . � I :, inder 0 - , r � � I - I I . the cost of group- benefits The rema � � - . � - - - 1�:� L:� _�- . : I I I - - r, I - .. � I � . . ;. - � �� . �� V - � Z�. - - I - - I � � � .- - .1 I I . � � I . � � . - - � .� - . - � I � � -, : _. . . � _ � _��- � I I - .. � � � . � - .. � � I I . -r of par- I � � I I , � 1. � . - I � I � , � the City based upon the numbC � I � I � � � � � - - ": " - - .� z � sary are contributed by . � - � � I - _. � I � � � . the, plan coverec! � � : � - - . - I I I I . - I S i i S 25,595: � - 7z 2S. - � - I .. I I , � � __ I � * _: � ', , 4 � - ,� - - �g, - . . __ I � c 30, 1986 - � __ I : - . 11 , %_ I . � �1_ � . I I L. . � -, . I i- an- As -of September . I I - " Ir' ticiparits n,thept � 800de- � � 7- �,�� _ �� - , �; - � I -, - , - � 1-1 i -4.t:1.4r, � � � . - . I Aim I I - I . - I --- � � 140 . - . . � r. . � � 2 '000 � :� �s 5- : � , � _ , _. . I _A,S25�794 - _ - " � I _n� � I - - ,s -anci ; � � � � � �� ,,ee -, 7t � `7 I � - 6es. 800 re 1. � I . � � � � - - I , L appro L active employ - I � - - I � T . I . I - ximately 1600 . � L - _�� I �tierj en ed were ap- . - - - I � - d ",ji,j t4j�j � - - . 11 � . I � - _ _ � - . . - � - : �. -, � 8295 - :- �d I I - :r- . I I - - �_ � . I � ,� � - I , . �, - � - I I . � ; 6 -1 �_ � � - I - I � � . - � I 1: L � I �9W - I 'j.jr I I . . . e � �.z�4 1 . I the Ian for they k 11 - - � I � . � - . - _�_ -pend nts Costs of P - - , - � r . - � � � . . - -- __ � � - ... - e , � ,iis not, cover � - - . . I I ,.,,_-r, . plan do- I - - ,- - �- _,__ 'lion. The CitY s - � . - . � .1, - ._____ I . .. I L Ir :� 11 - � � - - L �__. .'' �._ I � ., $ A L � 4,796 _ � , $ 46 �7':- - . _:�__� - �". � � . �, �. - I �1. __.- - ' , _ I . - � � . � - ': � ".-,A',-61 . �27 , ....... - r .� r -W_ , % � __ `4(04 � � ! � �;� ,! � .- � . . I L � L - L - , ximately $5-2 mil - � � � � � I , - __ � � i I . e _,Jrj�ons ,N, -- - 11 I - � � I � � � . I . ,_ . � , , hict,. have es - I pro �� _�� L � � � I - . - - police and firelight ., � � . I . � . .-. � - . members of'the -, .4 , I �.. �� , - �, I � - : - , , -A-m --- ----- .%A%A.OA9m== � .� , 11 I . - � I- I I - I_ . - � - . . I �q - I- . I I . . - �� � _', . I � - : - '. - � . I r - � __ I I . � � � r . - I �:: � - . I L � I � � - . � , .- - � � . L I - - - -1 � � . n � The amount orclairnS - r- I I �, - . - I � I � . _ . I . - - I � . � ,- -, � � ., I up benefit pla � I - � � I � � � I I - . � - � . tablished separate.gro ,; rnade by the , i � .1 � � -1 t , I I I L .- � . - pay e, t- � I � " in n I � I.- i � � � � . 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U-=I,� - , C ' C - � :1.. - - I �,- TPhe City sponsors trio (2)=separate e tried` benefit :-.��I� - ce eai€rr ' !- per, t°b e -appec �-�. - - = . - -:----. 2 - - - :I- I , - II II. I� �:nntnbutory pension. plans. Under 'the administration - I.I�. a, af= dahuae . . . - . r_ w = -. _ - 1 ,' � ,_ t. -� -,�:7I� -'r 1 7, 1� �_ rind management of separa# BQaFds Q Ttustees €S as4�� .-.�I.�I , I - __ _=- _ a � a ,I .I: ., - - -' �, - _ _ - : - I— �I ,,,,,- ---,- �.t' - -I �I c �,� I The Gity of Miami Fire Figlitet's' anct PoliceOffieers _ bas►.%forafte ,I I- ���,�..:� = _ .x . � - - - - =' f - _:_' - . - - - - .-I�� �.I - - - �_: , I fr?etirement Trust (FIPO)'and the Cityof Miami Gen- . - Th espeiEi I . I r. �- -. -. - I � �_ . 1� I*- -JI.I�t._ �, . I� ,� eS eion Empto}iees,fefite- dThe a� t� a� :- nI� are, eicpeet4 I.. .I � . , t -:� -,:I I _: a h � � � -�I I- - �_-, � �.,,.. Ient Trrupso GESE) plans coven substarttiall} afk _ - _ cq.�a ter I� I�� .III- - I I,. � . - -. - I ,.- �-Ij---l-�;'�.,-.--. . - - econtribute a percentago of #heir C,rye � nuu i I -- _ �- -- - _ - - 2 _ ;: m I� saparies ovuwo: teas ages on a bi=v�eetc{y bads-; hiei# , o eceeef+ r-- -. ��- - . ...._ ZS,- _ _ i = _ _ 0. Y - ,-' - �' `4 : -' percentage was i0.5°'o for FIPO and 10.Q/_far GESE. �-I I..I- the unpaI .I .. ".II,- - _ � - _� .-1�.I. - - __ _ ..,- _ -. - - �.I _ � `� �I a I ��� contributions from''employees are recorded in the :, -��II _ �It _ �.:_ ._ _ . _ ; _;_ - -- .` W r it makes a roil. deductions, fro ae tfld; the C Y p Y l m par- be�etimiina ei _ : _. _- 1._.z_,.. . . - � ttctpants The City is t' contribute such amounts as , o . bjt the yle � I II� y _ ��-I�0 . � __ _ , - are.necessary on an actuariat basisto-provide FIPQ n1& inerea e� IT, - .. ,. - : _ _ -=EZ* . .. J Y ,, : _ , _ V - Q � r and GESE with. assets sufficient to meet the benefits FI b E1F o� G€SE, - _. � - . I r . _., _ = - - - _ -' '- - - ,� -1-�_ I c_i ' __ . - � - - tc e a.` vtr�_b,, tt lI_ I� -.. e� s� 1.-� -n� o- -�- beriefit prartit# .] II. -I � - ..-,=z= . r W _ .. ,_ : _ ; _ � _ - - � . . � I, � _ =7- I--. -i�I-I ..I� II--`, ., thro hpth Cite f om Metrorolitan adeCoun and 1 `plan �I , II. be mortizec i 1--,I � I � � z= .,,1 -�. .. ._ - I.. ' _.. ., ` - - f a ,�i ; t the State of Florida on beha of certain partic' - _- the short - e . 4 (1�j - > - :�-z - - I, �II. ;- ,� ._ A� n ts: , I -I .. I- the fise - }fear iur . . - .. .. _.. -- - - - - - --. _ -- -� _ -. , , _ _ - +�e City was .involved in: tong -stands n4` litigatiorr, .. 1 . _ - -(2} fh erioc# it - - � ., � __. _- - - t. ._ Y -., W . - . - _ � _ _ ^_:1 - - - ;,;. _ _ - - i �i I -�a - r,ncipaity related to funding of the two plans, wtrich �I� isexpectedltjtlei I I- _ �-=I,.-- _� -� . � �I1_ ' _ _ - - I t :1-, zI - _"�,. �M I I r I was settled under;: an a �eement a roved b the I:�I in the unf n I .._7.,- I i _ I- M �-�, �� �* I , , � - _ r. -_ ' ,� .� .I-..; -t-_�--I--Ii-.�I..-�--�,��--,I._: -I-tz� �II;� .��_ -, .�V _ �, '1" I City Commission, on June:13.1985 ("theGates'Set= - `actuaria-ass4m .�. _. � - I. �- .u2— . I I , --�.I� LL - �. . _ -` _ - - _ . __ I -��,z�-=�,-�z--�-� � - ,T , �, ,� � 1 ._,_ rtement"). The ma or terms,of the Gates Settlement I. sultin froeo �I® '; _ - . - I- _ , - aschiof �._ - - rm I - �- �= L .I� .-,� 1 . I . � I IIi���:I;�4 .z% .�� -2-�I , _,II "I,I11 �1-t �:-�I-In. IL . :re I athe two Boards of Trustees {Boards);n iI I- -a 3tkyea .fn II,�7� - .I I-- _ �Z"=1i _ - -1 I_,� _ , - -, � 1 _ -T _ _ I�Lz,.I;. t _ -��.,tz=:-�:I- .- ,- �Z-I.--1�= II ,� _I= �- =--7i-7`.-�z-�_�,� --��_-�.z== "-tI-� �, �I , � - _ its discretion, may have its owe employees ad. - . irr wktict the cfi' I. .. "` ,.� *". -� _. � . - =-I - - _ _ -. = ,--__- �.- -z_ �� -I z ` � I'll .,,I - rriinistrator, attorneys, :.accountants,.` money:. �i, ', os .at< tit ' _ . � � I- I.- _ry .��- = �-I-,I-=.- - ` y i�� - .t - 1 w ' - - _ - , w-�.. _�--. -1., M j � .r- _ .. managers,'_and other professionals: . was created wit -,.� �: � �� ,r ,�:- . + _- _ . �. _ - _. . _ N r � " - , - I .=-' _ �,` ' I_ I-��� � h e C i tty' 0 ar� , ontributions to FtPQ aril .. tnnang re- II-� � trig*. g:enenaite J and GS€ bein • - - I-- : I-:I� .�� I - E vvifh f scal'. yeaF.1984t85 are Gu I_.� . � . - � - - 1 -' - - q Sed t gconsist of: , W . ACtuarialf tntaiirMt15q �II I� - I �:1 ;Z�---��S*=7-�-�_-1-_�,==17= - ., _ - _ - �� =.' �� -.��4 �,:_.-*1. _ ;,- � ` . - -,__� -� �. , .�-I r .�. � -I,I • Administrative.expenses � � a� I't - The, preseet f-! zap -I _ : - �I - - - - - -_ - = - - s v , �' • Actuarial. contributions for not mak cost us �.I - - - which pareipait►t . ,^ �. I,- �-- _ _ .- _ �1 _-- - _ � I I7� - ��,-� Z� . I"� �,,. ��* :-� ��_ I- trig the entry' age method; a=mechanism has - set ice v�it ttse. t .��- � __-%I=--=-I�I1-�z--�--- - _: -�7�- I. - _. r - -1,,-t� fi-., lI, ,_ � - solve:possibte dis= been agreed upon t' Fe 1�_. deter rriine unfupc4 , -: r = - 1�C-% -Y. a .:: agreement on annual. contributions b ' lateds by co�isuktii � i-,<-�_ �, ` .r - ; -;=---�-S_:j- _ f '�.-1 �� I - _ .-���- ,. �,e'- t turd. party f otr FlPG and GESR � -? - . _ ;z .�.�: � � I _ - _ _ , - -iD,_ :% � o 7 • Annual unfunded. liability ` eontributians I _-City`s conti€ibutio . =�.=— I:.��I- - -..; - �- _ ~ . _ _ -,I- - , ' -_ - - - ` �-' ,:�, Z-I -- _I�-�- � ,,--,,,_,,II�� - - � _ on a on -that - req.uii es I-1�- . Septetnt er.3 T9 i : ,. 4. II,.� _ w ��I .;:: , - 1 - - - 1 �, - ._=—=� �-A :.H ,.. , -I - $5 OQO.OQUaor FIPO and. �F.400,,000 to. GEStr: terrriined unfunctrx. -�III�.. - -- IM��--II�2 . :. , .. I�-�,�- - - - _ _ .. _ _ _. _ -1�-,- �� --� � ,-, . - -. �-�_-- I I _ ;��,. I respectively,_ for..1984/8S, increasing the using the entryag . _. ,r 1, .1;I-� -. � - -. � Z -. - -- -.. - - _ - - - A - 1� _ _ . , _. _ _ - -- --:���-7� - . - , _ : I - - - - - _. - - _ _. -�'--'.,� ==�, =— _-�-- 1� = .. _ I-�.Z- ,�: �=- �=�� _-.4-_- ',,r!� _ m -. ,,," , !;�,, �. I, .I .-I-.I� .--�, � . I-, � . 1.. ,I, .1 . ' �� �-� -I .I�- r- � - II -:- - - � � .- .�,.:=- 1 - :� z��%I�I =- �_,_- -,�, .'�_�- _ _ _- 1-_ , _ ,- - , _ 9 : :L �- -. , ,: z,-�I 1� l- -_tt-�-, - ,I� ::' ,V _ 3 .� -�; �. II _ - I _ � -I II,II�; �1,- 1- - -- -�., .I . _' 1: -Z7..2=�.�. �,.--- -:..I�I1 � � , .� z _-I � � I - - � --. .� � �: .l_,.r _ �. �-� I�_-1, . � . �� �I� I- .- I�. , .�I A. � I-- - -- - �- ,��. - I�, �. . . 1 -- _.' 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Y . ... .. , - - f - 4 _:_�. --=�r== ,."� I5 _ zS" --�...= B.� , _ Jt�� �:,,'] -�I� .� I�., _, -�- ��-� 1.��.,, I_ �I I' 1���-I, -. -� I. .2..II '.uI I� ._ , .. _ - _ - _ - ,I . � , I � �. �T_ .I L_: . - - -, -I.I ., ,. - -- -�. ,1,� ,- ';-�-= ��..� .. =-�� 1..,�-- -�-:I1 -, r,I =I-�7=t=� =-=�- _,�_----� --L ,-7�Z-.-1 t- _I=----I.�1-:-,.i;7--I- - _ , ::- - 9 - � : - _ ti _ ` - - r t- _ S - -- ,��:., �1..-,`i. �;- X r`rr� .�'_ z -:� -:�. -�.-�- .�S, -A -1 I. �I,, .:s-� �-1 r� .;r- tI �I-I-I �.� I ,+e � 1.: '.� -- � , ,� I � - � . , � - - - -- I � - - - -'.'i . .,- ._ _ - . ._. _ _ - �. - - _ �. ., , _ ¢._' _ _ a Y '' +.; - _ _ .. - - _ .-.. ,,_.,... ._ . :..-. - - - ,_.. , ' .. -.- - - l ; _ .. --.- t - ,_ -. _.. _:,. . .i' ,.. _ _ :: - _. ,.:., .,. _. .. - tyry5. _. - _ -. .. ... _ .. , CITY MlAMkFtORI.QA F1ri�1Q: (yam {.� /.�GEQNE��ii�\€�L AND .CktANGES t t=�N� �atMCE -;' (NON-GAAP BUDGETAllY-BASM) ANO A� YEAR ENDED SE EMBER .t9 _ With Comparative Actua! Amounts Fog Year Budget Acriw_ ess nu es Ptoverv' tax colleGtior7J including penalties and Interest. ess'anct.excisetaxes t8,845.ilg2 - r-censes and permits 5-usrness t:censes and permits-- ' S.9t'3.94r � a s "'` -onstruct,on permits xQ_oQ4 _ 72 �p rergovernmental State revenue_ sharinges t0,33a.v 8r vd E5 tax85 t 1=(jt}. co"Irt fir, -ay©vernmentat �-)g,neenng services �kttier admm,strative- a ses +or ser vices: - Punlic safety 3.324.770i 4.361-? :. t~ccreation So ' .'haste i3. t8Q.QE7C _ '}. %7 50 '-erest- .' 2.tc6_t;fJt3 - t. 9LI -•;r. -,. _: ... reyP_nues . Rent s t4,SceklaneouS .-af revenues 1 771,- - SCHEDULE, A� _, .. _ _;-. -:. .. - . deposit aCcour{>?� :... ,., .,. � .. M . - ' _ ._- C t OF MIAMI;FLORtDA : ttae 2niilt�nsBCUrt#yepos GENERAL:'FUND-' , I�tiei�tle ` ,.:.....: 1s, pehCY fund:. SCHEDUtE,OF, REVENUES, EXPENDHTUREa. _ :: ,�Speis y>etlion AND:CHANGES=INFHND.BALNCE -BUDGET - -' , pf .._ V e. e_ eit►t er: of Ctairns u y� . ,• (NOR-GAAP BUDGETARY BASIS AND ACTUAL tlaJar",:- revenue.. 8fi - _ - . City, aTtstn4 airtst the." YEAR.. ENDED SEFTEM 3� i9$Fs .. a rk �r � Y -9.: 'w- .�> - = ,tncu. ect on City prcr • W t Coomparattve u r ct a! amounts Fo -Year Ended September:3�: 7 85 9 rair lota+el � +e i;_In°uryes gene . ,.� r t b 1y" 29 335,flW was tecordec ., �a - _ . -� Debt as of September 3Q. 9d , r �'ertn der°-8ohdtrtar�tsty - hg +endthe rseventaesIc�te.'!2 SU SEIOUt I"f £11EliTS 19ss tlldernt as tit ty eBi�VaceS jm ptinci t�tt �8 _ y Ian October 2. 188fi; flee City gss z®� Tom' ` variance iat�tilmjt Kit3eed 3t� .. t ear �Obti anon: Pollution CoConi,-o+ r � General 9 y� Favo ra Actual Ott the:r�surngsca! ., fonds ;(Setae _�.a hway5 '. - Budget" ---- Actual (Unfavorable) t r98. ::. rpKtTttately _ �l _ _ .�'�g _ t�sr.the 1i5*val Pam' �a ital projects: fie bonds rover .ass _�: a. � _ Revenues_ _ Qf hj1343 p$8 fl in ea, �; 'r ^-c of $�?b 3hOl�gh 7.�1 to tiVltft 5er11i2Ttitila J n i� r - 6- Taxes: . Property tax collections including ih Serial;principa 1 maturaties begirt an CW natUes and interest penalties _ - 3 3' � -.ram K$ � si �, a _ �.'rf�? � s i.r� � tr�in.S325,000 #a 3b _ i j .. _ c v Business and excise taxes< 09 .. ,, y �r o.g'3 G5 - mrats tyu of .$'1"905,000 in 2006.. - _ 652 - Go�nm�sstort.:a ._- .� 686, ire*rt- ,-". r 170V. UAe F.+ti�i»t+fJ �i'.j'�.. ti ..G:'.' r� t7n Gctobe 4. 23 - lim:e'rtnchise ;agreement : - Special obligation Bond -_Ser,es f8� - Sp , c nsesand permits t Business licenses permits, `- a and " �t3.9�'3 55<t-t a.zs 3g195 �d5�»4c - _..._ f1i1t8Tt'it �eviston ranCtttsee. ,: owner ..��-ram ior.construction of ovrrtPr oc��: Q _ _ __ f Construct on permris ' ; v.f7CfFr � 31;G G G�3r7 �.�« .:. r�ernent are 'In. tts'to the a9� nanc'ing .. ^ SRC-^ _ - Scattered Site Proarar�. 32,357r %Ae telwee nthe and the uiider.the The r^r ratty GeVeiopment Target area- 1 Intergovernmental ` gyt�18n25 t)tit 8td#►ise lee 5 at d - x�j ,'t°lo `t0.' Est es State revenue arinr�- �„ _ V - 4a ' _ t' lae Berms of She newtt'agree . beginning 1997 tt►rough 1996 in,amourr' r xi Sales taxes �F 'CG ,u 4 c. or t'r.a53 $6 �� ass b .3' �b� 3_ 5 -- -n fob, n Ies nsisting u ttheIra -- - �W and term pay meni �i 2.S3 � �IG� a Court fines Other _ - � ' e otl$ei ::against the pare -to b for ih$ ttrrte +vaiu+e ot. the $190.� -� -4 i service 'on. the. bonds are aayabl= sc = - :eev - - - _ . 4 G _ _ _�. �L' _ _ - - j -.32,31 O j �ras�en tete{�hone".and telegraph_-tranchise �y �t}� tatCt.retttts $500;D00 y- -.- - tragover mental. to n - -- •"`."e : -- Engineering s ervrces - _ - _ elµ i.51P., 2 G5. !.S.'s G; ;7` administrative Other adm str ,f C3L - _^ �Ll� vGii - s its �'"ifi �CS,�Q6 - 'ii3ts Charges for services Public safety � 323 "'� ._ i �'s gg� 4 Recreation e Solid Waste '��. c �2G � 3 ,i 3 _ Other- - g _ WO -`; -58' interest ,.., , 1 n =. : c�3 Other revenues' -Rents Ntfscenaneaus _ __ __ .�_ a ` �.: ' - • - , -. n, �,#• h_,, ., ld?a, :., .,.n .,. .. ,.. , . ..,:„ -, �'. s,. x.'.N, r u ,... ..;, ,.s .:,�,.-�,.., r r , a .ex� Y, . �,...- ,. a x -.. , - - - - i 1.7 W = to, on 4!- o) cif 4f R. cf-Q, co C § tp C9 � dt . tG coC6 Q QD'ct cq -_ '- - Ek . cu ". -- - - _ Yf• m - tII. ci cp e9 .cif.. : La v to O tit - 07k.m � .,-CW , _ _ mcq 401 CV, C? 4P Ow cm R '- W. r Lb F - - chi: K!� Q aw N N r t[3 �' .lA' Q. - CO to C i _ CM _ t6 . m _ R _ - C7• N: _' Pi- CIO '1 i - 1- .� w. tf!Clt - IM Ck cn r an R y NW Q in WGo ILO tjn w 2 Q AV W tD ` U.JC) WtL --0-Q - :.�� > v . 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G cu C - ¢F¢.y-SI .Csais� M- a 'v :an) :u >.... t3 S,€n " ill: �% m.i._ G L'l.iJt. .�y C_- L II�i C _ .G_ CL ,: w y. - �`'t 0 0 a `, - 0 U s _ p� q� r "CITY OF MtAM4 FLORIDA *11INDS DE DEBT SERVICE FUNDS , _ ::. 1 . COMBININGSTATEMENTS. NQFttlRES AND CHANGES INFFUND BALANCE 30 1985 �. EAFt ENDE6"" SERTEMBER° 30; 98& - _ With Comparative ative Totals For. Year Ended- September 30'. 1985 inaf<e Special F - citities Via ' 8ti0r1" �- Obligation _ _ . General" Utilities Subordinate 5pesiaE T ToWs Semi "" Note = ": Bonds t�$6 `: Obligation -. -Service "- Obligation _ Obtfgatior ids T ,------- tl ; - : -�-- --- _ Bonds Tax Bonds Note Bondi f98ii ?985 Revenues: "Tax collections S?8.26397 6' 251009 t- 2'8.253' _ Assessment lien collections17126,244_3,726,244 _ 2 ig 98 $�59726t.. $. 1t).107;53 "� � t Interest - _ _ .t,528,548: 599•-426_ 2 383,272 1.357Q ., .. - -. Other 684 - _._..._ _ -3 2Q9:684 _ -- _�._..... __. -266,978, Total revenues 23 215.35fi 24-999,625 528:548 826 67$ 52:570.2Q5:�:i5.327 - _ ExPendi1uaesetirement p 10;800,000:' t5t�_QOQ. - r 1fi 95Q.QQ0 ,' tQ. t65.000 79 $#3966 $10.107;537 $12,723 7'r9 _ - $ii)._$ c ,w - Interest and fiscal 1,374 T"S.i}30:325 12,553.002 : charges 13.280.529" ? b:7 2 353.o i t 68. 20,789 i Other 9, 72 7 -. -._ ` ._._. �2,(3"4; Total expenditures 2�+_(790,2 6 ,"' 7�z2 �27,011 5 lob V,097 26.T2B.1Q� 22 �38 Z9t •,: Excess (deficiency) "over of revenues expenditure S 832.883 _ ($7a,398_a 2a _. 25.842,103 2Z,696-535_ _. 5�,2.5 . sources Other financing sour , $T0,000000 - .5 _ ,. aQ.tO;)C ut'.; _ (uses): Ope a,' g t sfers,"out r tin ran ,, 7 .., _ �6.:.t,:G9t - _t,362.703} t26".03,994i 0 122.a 0:225= .15#i�00 &,000 _ 18,000 ' ;� �: 200 _ _ . ,_t Prdebtissua 3 5 05 -. 5 t t .2 85.841 46, 8 36:4 t �s t 2, QC74 000 e Q0Q 1.w 43n 5� ce.. Deposits for .debt - ('15 50 575; 5 t2 v0f l f 00(3.' 4 00. 8 15 000 ,10.006;000 38 _ -� — ,.- _._._.. __ (35,550,579 r _. _,..W _ - . defeasence__..... vt toe 5A,956 - w 12,705,719 t"2. 60 6 Y. other f'nan ang -Total financing 0.923. t58 1 5 4t8 1531 it 40 225}" rriale -, - aQt sources and uses ,_ - .341, � ��s 29' : _. ._ _..-_ - _ - - 1Q7:537 _ -. Excess - (deficiency) of r -revenues and othe " r s " sources "financing sour - • - :,+ fin. .n ,47b 719 G' �0 123.35t� - 8,418 _- over, expenditures" "" - 3,78;�17$ ".= ' S4.956 101.537 7 71 Q5. 9 ? 6.54Q.6�'li c ° _ Fund balances at beginning.. " - _ - - - - - - ZI " - r 6 5c� '3u 1.553.3 - - 6,i tC) full _., 5.820,`•!`2.i - - - ....,. _.__.. -12. - of year: : $8.079 0f16 $69.986 $101107,517 $12 r23.fi.19 $3Q.9$Q 25 �ilvf 2� Fund balances:at end - n : u - ?0 5.3:� tr;3 5 S '1,ryl $ . �.� ..h �12 05.t 1 - �15 540 69U - s 6. t t6 1 aQ —. -------'" of. year . r • f'`" 1 (v'4 A I y I µ li1 r -- SCHEEIDWAM CE TAX OWN CHANGE 1: WdCo AND ACMAL Cis - .:.. ry (yam .19%VA Utilities Service Tax Bonds ` Total f ®�I;�a�i�..� C&MM0005 >. .'Vat:1985 _Variance Variance Favorable Favorables f vCt[�a.. ESn%ocabfep - I=avo�a�► , ,. Budget . Actual Actual Budget Actual, c ual --- _... _ . Unfavoratife At,-iut�l f ..� . - -- ---- - 3 - - -. . - $24 941 177 $24.760 26 0 $(T 23." 38. 0"01,549. S43.023.757 S(77792), 326.244. 54r.278, 53. 2.i,99.938 Q 1,8261497 72 259 45 = �y 6 yr/� J ]r{7�{�Yy�;r,yy, �����yppM���yy 3.726.244 _. -- ry'ye4YY.i/VY -i•'W N� -. -- ciL,s.ir�_- :,::If.. - - .. 239.365 - 239.�,t�5 - l .i98 . ril.{f 684L 209,.684' - - _. - 209Y 44 8 - r . 549 45214.983 _ 3.43 —� 45.435.327 _ 24.999,625 _ - k 22..372 L.W 3,.• i5i352 - _-------- .58 _ - - _' 0©0 _ - . ry i }t}_�Vi i - 9 10.954.000 _ _ 2 r 3 38 ; 0.160-.000 t� 2 58 02 - - --- _ - - _ 150.000 56,742 _r - - 1 �6� 9 33 3 _ _ �� 1' �3. 52Q<'789 10'it3;fJOC7._ - _ ., 12.�sg . __ 3.9921 - - - -. 5 4 6 C3 _ 9 72 6.673� _ �-� 13,2801529 - ��• — - - _ .6 - — A _- 500 �___ ___ '�0, - 1472 - 24 25 98 .. 29,335 _ L y 22 738 791 a 65900 : _.: 9,72 5:::' - - - ` _ 163.250 _ ,- �- :2 2,1.286.3 33 - - - - 241124".O83 Z4 090,256 �. 2342 1 769 22 6 36 -. .: �. ,�b�,• - _ 24,777.92�_ 24.832:883 5 `,955 21b -._ - _ _ h 76271 i` ', J874.8981 �w --- _ , �26.3tz.29't 2 422.s0C.451 . (26,3412 1.j: 9 (26 41,291t 3 _ .. , . `2 400 225 ;26_ -tt 29: 3 55 000 35'550.575 f'.30 . 425, 0 � - -.8 0 0 8 35z0i� +35.550'.575i . 2804.425 t2 00 ,0Oo 0 - 35.550,5r 5 '2.5 �= - �26-341291i r22 2251 .. .. .-.. 138,355.0001 _ l35.550.5r5_= c -.- _ -- : (26,341,291�....:(26,341.291 . 2w 4UU-_2.,' - . ` - - - - - :�.'a:W'f'!?r". iT•i •"1,x�i�. •r fri-.: - : _-_ - `, - - t .t ,�2 - ' C 'may G - 3 6 U J � - +7 t5 .J8il:3Uf] {' c� t?.r �o - v �96 /� 5 8 -�29 - - . ,; , •� 4 f 1.563 36 1{+ (1.508,4081 5a 95� 32� 6 t ? 6:, t��: �. t �� .1C .3 _- w,� _ , i1;762.71'1 } - 874.898 # 88- -'; L 1.563.364 �i .56 .36 _ .. t 553 364790,66b� y .. - f 3"a.134: — $942 76� 3 b 116 ; 4(:l. g ' 4 553 37 d. - 6 553,376 _ ..._ .-..:. S _ . 8 54, 956 5 ; 4.956 �s $ 2:790.665 S 3:67$.d78 5 ' 88; -3' j t" J"_ C CAPITAL P�EtQ.IEC�S� F11N44>�r ; E©MBININltN�HA ..'' . --::-SEPT EMBER30s �98� Wlth:Comparative'totals f orYeai Ended Se�te�n4e Transpor Culnur i Mulddpal -- Pumle - � .. _ ptlort- ._ - . eatartatloo� - UsO Ua Sa+asr - ASSETS - u:tv,'aetrciti tn.nooted - - - Sto.C35'04 S3.300.gi8 _S2s9t27ii _.Sg,g52,s2s -.- 522.t2&496 ,tasty and tnvestment5 _ . cast., wan ftscal agents _ --- a51106-- c rsutES .ecetvabEe Other funds _ - t72.tjOQ f.857i105 dt197" 2352060 �' etrar,:_ -- .1uN 'f�t'i)Irier g'✓ver�±nant5 - 253.059 - -- '' -.. s!+s•- -s. :..s.�'1 ..='6WOOO. StT_5i3.865- 55.770.0'23 S24.41174,i.- .. 54941827. 524s480.556 Iota) assets. LIABILITIES AND FUND BALANCES' - a tttias- S 92i 92s. St.15t592 5 _TT668 tOX]aB S k0?�/25 + ners and accounts PaVabie - - - - 2.21T' - _ 200, _ - - �i x._ - .. - e !0 atnar EurWs. 925.924 - t57.592 Tom t93.82¢ C046.t2F - - ?atttarxasi0eticttE SS45879 F,4 {24t-t.t03350_. '« a9e4T� aesaruNd for encumbrances ' rrCserved tot construction fore4utpment purChaseS- t� rieserved ceder certtnCates of part ctpatton 9494394 tfi 0tC9tiS es r.•ad - designated : E0.972.Ofi2 0g,57a1 23,73450a ,r aPGraved protects- - -_- - - - - - - - - -- 9c749Z9T 23;45*4 t S 2x83785tk t8 717 9St' 1.9T3,03 otai tupo aatances = - jgaygO;bZT• 521.id0 S5a SF�Z� 4abli'Ves and - - $t7.6a3,865 - 55.xlQ.623 924AM74k 7 E L_ . _ _ _. _ , . v_ _ .,. _ . < _.. _. _. _I: , ,�-I�II,.:..., --_-1r... - _ -. ,_, _ " ,. _ _.. f . � . — _ ,., ,-. , _ ._ _ _ -, n -.. .. : ,- „... a._r :, .- .. ,-, w -::-' , I - :.- _. . _, ,, ,_,,. -, -.. , - : : . .. .-II,,,. `� I�.� - - . - �.I1, -. , ..: _ ., ,,: - ,-., C APtTAL P E FUNQ � CNC -. ,: - - COMB GRB ET ININ RLA E SHE • _, . . - SEPTEMBER. 1986 " -,..-. , :. _ 1,- � „ . With". Comparative' To Is For Year. Ended September t a 3; f 985 .- - - -�I�..�7,II-..I.. - . - . �. � - �tI��.�--� - Transpor - CBltura zt : - Munirlpat ,_pubfic Egvtpmtnl' - - MfamrSportft tatV - _ � '. �, - tauon riaerrauo++ - ?ase uss -. Se+aers- " �Aerlmsuon," Arens -: 198& .ASSETS II��� II-�.,�.� Eamty idebciq in pooled fig., g-. :: - :_ ". I . -.. ' " . :. .-'- `. - -;": :-. - -- - - "- Wsh and investments - - - - 1; - - - - - : - ' r.. d 'h �� ..r 'S`: ,� � -' ' u3:' '6w-.. -� - Cash with fiscal agents - - -. -Accounts-receivable _ 2 Ufa` 'F'.^Ot; - _ _ "Due from other funds - _ ; ��ya l� t - ` �St; S65- _ _ _ . c - _ ' --- - - - ` - ._ Due -from other governments. - ..-....t.. _-:I - - ' - � *'it:7L 1 - - -'tJ�5- - _ _ ' ,, '. " - _ -. - .:-: �-. _ .- ter assets " _ " . - ?` hlJ �.h�` � {_`- }« „i >t_ S.' .9 '+.i..'. }:13W..'1 >`t. S'r'. *L}.i5c1- !p `l _ i'23.:.$T 01"� 3'::. rRc. t _ -Total arse s I . _ r- -.- - ' _ - -.. -. .- ,_ -. " _ ..: -... - - .. LIABILITIES AND ;; - - - _ . - .,., - - FUND BALANCES... _ - - - " - - - -- 4 _ _ �'�a -r - _ ,. - . - ' _ unfs pays e - -" , vouchers and acco r.i - - _. " _ - �Aicrued expenses= "I q:: -' _. - _ _ Du o other fu n s e t - _ _ 5:: 4 ; ups 5 "i .- 5c T- _ - _ o .'1 `' 's, _ : _ - -- _ - - . - -� � Fund balancesltdehcdF 5 '' - -- - - .- _ -. -. - - _ - - - - . - . . :. - - - - .. - _ � � Reserved for encumbrances" . - "` - - - -♦ 5 _ - - I -, - - - - _ ', � �' l+n _ _ Reserved for construction - "- _ _ _ "- Reserved for eguipment_purcnases - , ,-_-: ,_ - " - - t s of p cipation under cenrtica e a - - - - - - - - - - :,.. -: - _ _ _ Unreserved -� designareif .. . _ 1 :r<, - - - for approved pto Bct5 . - , -_.- .: - - - . - - - - - .i. . S<l,•i)' :;{i 31;3 - t i4i 1rh t.i ;a-i S,s :i ?�i:3 .' _ -, - : - - - - . '. _ - - - -Total fund balances . - . - `i - .. "'':.'-. - - - - - - Toi t and a1 iabsHhes - - -=S - 3 l.. r. .'S-liv - - 5` �, +nii 1-`'k7 5'3 "^ `lx - �; �:.^x • _ ... .. .-- - . "-, .:+-M>...�:;- - : .-. _ - -...- -: - :, _ - - _ fund balances - .. - - - - - - -- _. - - - t. _ ..- . _ _ _ _ _ _ _ ,.._, - 1 �i.��I� . _ - - ,I 1I: - - -_- - - - - _ - - _ -- - _ _ _ - .:.- , _' _ , , . "; - -� .- _ _ III I f : : - - - - , : ".." .- _.. p.- ,_ ,.-. - -,-. ..._ ..-_ -I _ _ -_- .. .. - - - - - - - - - - -- - — - . .. - - - . . _ - - -, _ -T.� �-_r _ I- r- - - - - - _- .. ..- . -'- - -_ - _ - .,-- . ._ - - -- _ _ � r .� . � - _ _ _ -_ - - -.. _ -_ . -, _ ..- - _ .. - _ _ - _ - _ �r . _ - - _ -- _ . . -- - -: '�_ Yy � � ,- , -. , -; '- ., x.-. �, ... ... - L. _.. .._ - - -_. - Wy 3 ., . - - 11 �1 a0 r 1� S ' ia, AI., - - - - _ - - _ --- - -iit,. _ .- x is �. _ `'y-r 1 � 6V, - - - _ _ - +J " - - - - I - - _ - v.�1'v a'''- - - -. - - -. - J .. _ - . . _ - -- - - .-_ ri-•ii ,w; ! S'`l if,rt �!- *'- .. �i7Y— - - " ..,- � - _ - -- - - m ~4f xsi±"'F R:#Na .i �«. .. - � - __ - - - - - I . _ - - - - Al -♦ :Mr-• -"�' - ,,�, -I _ -+ -Y - - - - .. - - -- - .- - . - I I _ - _ - ..: _ - . ;k - - _ . - .. - - - ..=.%:uTO�rtef`-"NtN�M. 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DU 1 ,,-- �� .I� ;�.- _ _ _ _ �.: ,..--,, . - I -.-r -.I -= .I '— _- F�1lt Q�,MfltM�,.6 Q lEilO : ' CST:Y.OF M)AMi,.F1-0RIDA ;�I_�,�:���I� - - � ,� _: -:L - II�1fERNAt�.SER�k,�� F NQSr t _ - .. . - INTERNAL SERVICE -FUNDS �:� - _.- . CQMBINtNC Sr�A►�EMEN� �� FiE,V�t�t�� ., - s✓GM81N 1NG HALAtJCE SHEETS : . I� - - -.L�.� .: -��I- - �I �,!-.-4Mr -�4I..�.-.:,,,�r�.I� EXPENSE�� ANF� �EGAtNf�E$a ll'It FUNQi ESN - SEPiEM) ER 30. 1986- - . - �S , � �-�.:�". _ - :. . - tember.30t_1985.. F r Sep i S a Taia_ - - -; With � i ompat=ativ*10t0FaeEYeartr �nd�dl � ptsm4a�° 3 _. With Cmp=�raitve �,1�`� - . -I� I �:-,�_ . . �� II-L �1 -� I, .-��I� __—.�_�I � � .I. -, .. ..� I.- 7� - . - - - . . -�� - �. � � _ , -�� _ City - Motua Reope B n4 Rroguse ,��� - - I - - -, . - . Gauge - Rood Maintenance Shop Mltunsgpm . . - I I� Communi L Totats � Print Procurement �I cations I : � _ �- ;,,:,rating revenues: I. �].�_- - - r-, Y .- tt rt ►s4tst;5t r'r P y' • _ Management-. Shcsp 9 . Services 1986 _; 1985 1nt overn,menta! rr �� ra tt f+,iaintenance. - __� — 1 . S2.432;848 195,50fi St.832 TBS:' S�:$T6.4�S S7781 - - -- - Ie�- .�-I .� � I,t� _ „- � I. L �� I- ,:I�.--.-- _I- riarges' - - - - ASSETS - �,.-`�� -. - - 1 - . � �- �=�I�.- - -�-- � _ . � - ��I- '�..,,-,-r �tYe'-atf g expenses Per so nat"services 2556088 . -_ 1.86t.75Q 2:260,266 276A 44a �.7 -- .� Gntrzartuak_sefvices t86,13t_ . 129,356 _ 69Q.523 t7t'.8� 75e7__ r,.. : ,,._. - .�. - . ?fig. ,� '--� - S 873,t14 S:7,586.208 $10864981 rtaterta)s dnd su pplies 99,0 11.308 t,t75:242" 52Q536 - 7?29e, -, .20Q ' - ; ,. . „ ? I- 4 n 333 ��� 111.313 708,637: 808,31 �n` r es 9T 82t 42,985 - 2#384 - 5 40 1 t�i89. - - -.. , x ,' :--,£ „_ .; - - ; , . __ ,I I 327.222 32:417 20.Q3g F.822 -' 4 ...,jJ .- _ - n 93, I, --. 8' 243 .�-�.�-I I , 984,427 .I�-t _7II.'�,,i 8.294,845 11,673296. -, .� .-�i tither, . - '.4.07a,570. -- 3.241',750 1514,748 - - 53,t 904 754, -4-.. . - 7,-, � -<•,- _ . -. - .. ,__ _�..--,�I.I.-�I , - ---.... � � - --„Y - � I -,33_u33 ` _- 3.086.803 . I.I�1 -_ '27,335�941. 27,159910 ,11 t - - _ - ,fore. re g income (loss) �e fectation expense b - (1.645,722) :_. 0,408.9M) . 36 ,.72T . s3F,428}, 2xb -. >,:- P�. ,!) , . Z,. - -- - °_�_ _;, ,;,., ,u _..... �� �_ I -I 1 333.363, . 81Q,T1:9 1339& T;928t - 3t $ - c;v`cner,t _ i� r;.:1" ,'at - n� - ��. ;3:; 56 - 11.560.212) ."-�-�=I., - _ {13.705.463) (11.982249} ere,,, atron expense . - . , income (loss) { 2,979.085) (2.219:T04) 348 328 t44 35fi} 2' -, t; ,.r - t �_.. � -�, pe!aung _ _,t -:at- - _ .. _' -' I, . -- -'' I �-- - �� .I:.�I I --��L��. . . ,. crt R?ranRa revenues {expenses)' , 4 - - -vGe'!, t - ` ej` '7 _,. - � I_ II-�, �, ``o' �� 1:526.59t �,,: - - 73.630.478 15.177661. - , Interest 303,t67 - _ 323,427 t t98 725 23, t 4�: ^' e' _ -- :' _. _ — 900 _�1�-.,- ;,. :,her 135.341 - - - I "' - - t - I _ _ - n. S1 t6.57D_ S2.5t1.018 �- $21,926,223 . $26,850951 : -,t8: ^c�noper x38.508 .- 44&.525 t 48g 725 - 1 , i �' : . s'. a'ar - _ == =.--":..7 to nses) revenues_ xpe -,' - ___ _ p�I,� = =I�I� 1r - -I �_ � - .�.� -� _ �— II � -I� I � .�"z- � , .�I -L--.r,,:� re i€osst before (2540'577) (1.773.079) 3�tf#8t7- f4363t1- - 2% -I-_- I - -. :-- r brig transf cs tie a e - - LIABILITIES AND III - I,�� I- ��I_* - � _- _� - - - t n c+ •q ,ran5 e[S i C rat,.. c 462t4t6 _ -- . {t96,5&t) , t -t3Ti t2, , FUND EGiUITY-{'DEFICIT') _9 a atfng transfers out. {tf.7071 : —- - -. .. � :. �._ �� - _.I . -I �I {Fi �P$fdt RCa lfdnst@f5 450 704 5611 t3Q.i37} 723j . ft96, I t23 _ - :; it's an° �.I _ t5y$_ - `a", S-7 Oa5 . I��,= t- _S' ot.832 , 5 S .775423 448.341 tiet.,ecoine_itoss► {2,08S868) 96%640) 21�68�1 {87 {tI - : akc untspavaw,r, . .- , - - -- I I .�__� ��- 443.236 �� �- 1. -� - ',:;atatr�eq earrings- (deficit) - 5343590 34r ash r32859t►;. - 5 - - K. axh8;. _ , _ .. i 3.2;6 43013 _ at r, o,nning.of year 10 375 479` _ _ ;,: ncava ?: a'dr,- i - - _. - --I- _ - ___ .__ - , -._.. t9a,8a5 I 891.577 t,230t ujri'ransfe� froth . - . _ .. - j �a I-- "� -`-¢ -_. " :, ZJ _. - -- -- - __ _.__ - z0.32t __ —_ �� f _ v �tner ands . . - --- _ -------- .: , _. 1 ;. _, -�.,: ��1-. ?? -z �T-_ - � i4 2 3 368 �" �- - � -i 9 001.204 8,955098 :��1II i . a n� aa�n ngs Pf y ° ye r" 8t2856tt 3373. 561 549 t443 *1, 83 - - n,<.. . I _ .�4 -I - � . L,. f . �.: ;,;,, ;;„ . _. - { t 72 805 2 033.442 1607 _ 2r,.:jeutt�d Capital ata - a.550294 - �72.�99 17817a, . t8 _ - - 4:..r ::_ - - I : �_ a,. _. ;r_: ac'3.', -..__,_. _ 83,E _ _ _�--- _---� �� - 25� - nc�' year _ i'< - _ _ . - - - _,,, >':.. a , , _ ti Oo. ? 9- - 3 , 3 Z 16, 7 _2 1.034<64 �t rotas nt ;n_ _ _ _ - 5.016 -. t5 Qt2 74g. —,- I" .�I--� l. _� .- ,�,1 ��1 - � - II _ - - 1 _. - I _ - _ "=.a•'-a� tie: at v - . . _ W. �—�- _ _ _ 7C.2 _ � - _ .-- S2,5tf.018 I. _ - -850,951', .: S2i,9�223 ., ,.�-II _ - - •-:r.,tr'J C.30.tal at : gar 55537f�: - _ _ _ __ _ . - 27Z.9� t78tT0 22 t.8286?4� .._-- �`' _ ri ,. 1, ,: - N .,.. ..: ., . _ 3+ .;,,r_ .;" c,° :t ? . St16.520 _ =�-I.I = z� ��L t - ._ __ .__ _ - - _ - —_. -�� _� q� - t� }tit eautta -. - .. d. 202,574 $ 834447 �1265781 1W41 55• - --- . . - . -I�_- �'�. - . I ` -' . -_ _ - - I - _ � �..�. 1I� �I�= I� .� - I - - .-� - I .� I II�,1 -,L- ., ,I I_� .-,- � .,.� ��. -�� - . I -,I,I I �I - I I � �.1 , - : I.�.. _ I7. --I- I-I��.-I�L. —i) �� I--� . - - '� � �� ..: -- - .-.-. -� -, � I,-� �. I - :' � �I - .� -� is - 512 840 98t ,.--, ----- —. _ — -- -_ - - _ _ -_ ,_..- _ -d ._-, _. ___ _- ___-- -. _ -. - - _. _ _ _ .. -- - - . . - _.' _ - ... _ -,I�- �-I1-I.I -- , �-.. -I. I-� ,..�- � I .:� . . : - - � - � L� - _. - - _ _ _ _ .. _ _ .. --;_� �. - .I-� . r- � _ � �4 �I1I. -- �-�. .,.� I� - IL �.�-���I . � � -� � I�- I . - . . .I _ _ - . - _ I7. -,F- �,: I--.: _r",� __-._... �_ �� �- ._--, -I �-,�- �'��� _, Il.� ,. .: .I .-,��-I,Z-: I , :, i - _ i= � - _ _ - I � - t tf - .. - - _- -1' _ _ _ _ _ _ - - - _. ,_ - - .�% -� __ _ _ _ - .. _ _ ; - - t _ _ , ,. .._ _ . -.,.- .,. _ - _ . .- - - - _ _ _.. _'- - __ _ _ - _ - _ __ _ .- .- _ - -. .. - ' ,11 'xy .. - ._. ... .. ... .._. - e. - _. _ _., _ -- __ : _ _ _ .. . .. f: - - :. <.: - _ _.. _ -.' ., - r _ = . ,`_; - d _ - ;, -. ,. . , SCHEDULE- F 3 - -_ _ ;- -. ; t.: ,_ ,.:. • - -. CITY .,: '.;,_ . FIAM .... ,_ ;_ �". , ._r. Doi . - N". :_ E NA SIERVtCEOR1 INT R L 04ANGES YEAR I _ - . - - - "-1---:... - - - i .- . - . ENDED SEP EMBER 30 98E -- , - - ., �lRI I�Dt� ... . �._-. A. '- N, 8 - -- 19 9�� -° _ - . �1JIHR , A' N ` '' =' . ed eplember O; a 985 . . - _ brietsor. Twill :. -- . . -. - - _ - .__.,_ t arage a ar o ProPr�rt IGFatnt e. - �' - ..- Commurtr 'Dints _ _ - ... __.__ - _ _ - �rocuremeM cations __- - - - an o - ari anc _ „ ..::. tint _,_ ,'p water ' ,_ MatnayemeM ; Serwtces 1866 1965 Favorabe, Fa orabfe - Pevoralsf ; ., i>r,- ''iNeo� -->�M*"f". $fi0p ,�._ `NN►rpe - - Budget Actual (Unfavorable) Budget -Actual (Untavarabfe' - Budget ' Actual fUrtfauorabfsl - __ - _ -. _ - 0 to ergovern en at caarges - ,� _ - ;; .. --. - .. .- . ,, - ; - -. $fg 1§ } �, 354 r. r,(7aE 361' . - - . . Ooe�atinc e.oelees - ., - ya� .�y�p(��;p� '' . Personal sernces ..'.- _ - . -- _ -.- - . - - _ Contractual services ana - - .- . - otner goeraan9 e�De*ses - -. _ .� __ ___ _. __ _._ _ __. _ _.._ ,_ - -�._-:____ _- - - - _ -- - - - 7:92$ 3,756 ' - aC 32E 6 - . _.. . ..,Lie - - - t t -- - - -" o a _ -:y- __ _ -1'.-'•—'S_._._.._..,_,. - _ i _ A39:Sti3 _ ._ fl7QT19: 1 t 349 .'- ' '. �deD*ecfa : _,' - - -- -- - ---- ----- -� : .. . ' - :'- . - - - I '. -- ' -- -. '_ � - -. - - on exDense .. - - - - - - . - - - - - - -' I. ,469) rr.8 5; peprecranori expense _ .- ;:.,--'_-".- . - — - _. Operating income ttosst F - - - - ' . ' n (60,895) 2 7 665 1420.152` . >vanape fingrevenues,ergelse4=_ " II _35.3� 4:` r.. - - -'- .- . - 22 -' 2.545 r `� G+ Omer _ _ .- - ----.._- _ - — - - - r _ ag - . .723 15,D12 - 5sfl76 - - _ _ - - Total no nax a.mg : - -----' -^_ ' - 16D;895) 3E9 t �; (47- -- 2 yae - - revenues ie.o_enses _ _ -... -_ . ,_ __ _._ __. - _ . . a >- 233.628 - -. . _ ,:-"-'----+,-'^" -' -�------: - - - . -- ' - - - --- - - - income berate OOerdtt-ig ran e'Prs _ - --__..-, . _ _- - - - -I ..—_ _ _ - - - - _ - - - - - - Operan iransters in ' - II --- O ,. -: _ - _ .. 33:D33 • fi t4 63 55fi _ 'zy --_ : Operating transfers cut - . _ _ .._ - — _.-- -- - - II - - - '.-: _ 'f2.81fl , - ., 502, 38.., i6 _ _ . - . _ eratmq transfers _ .-- -_. '-- — - - - _ ,- : - - . _ d --33:D33 12 81fl ' $02-738 - #&.$1) - 83.550 . ., _ ._., _ _ _ - - . - Net income - budgetary aas,s - - _ - - _ -- --. -. _ _ - _ - - - . . ` - _ � - .-:. - - _ - " - - - - - „ 53 a - _onntiation ra GA AP -rasa _ - .- - _ _ . ._ u I:g25S47) 5240;442 _ ''.S(fi0,$95) - S1 35fi ---- S(5D1.163= att tataeo nc,'iires a be - - - _ _ _ 1- _..-. - .: .- .. _ - - - - - _ Net InC. Li A. I ! �a5+4 _ _ - - - -_ _ - - - - - _ _ - - _- - - - c $ft,fl53A22)._ : 'S(2:D1D:98D)' -- 5280229,' S(5829d)- ' '$22.056 `5(458.3621 b ,- . - {3:5.D081 (57.T521 2.D67- (2 9071 -:: a3.845J - (22.833i - .' _ . - . - •-,.. - : 259,i91 _ .:-142,485 tA1:85n) 306 (855) #19??68t -- _...._,_ ^n _ __,__. _- - - _ - - . _ - . - - . - . _ - I ',(809,339) '. $W-9253647) S240.442 S(60895) - S17,356 5{501.1631 S - - -_ - 3;3~1' - -. - -. - - - : - . - -" -: 1, : . _ - -, .., -: ,: - - .. . - - - - - - ::1 -._. � - . -._.. - . -- ... _ __ . -,_ - .. - - - 1 - L.-: :--.. .: s- .." -..- _ -. -. .,. - I .. .xv I k :, _,' �6 - '. - - mq f .. ..:-. .::: � � I I _. - - 1. , , "_ . �__,� -, ,- I - -. -. - . -'- - - - -. - _-- _ - - •.. _ _ - I '.'. . . . - . - - OF'M1AM1.'FLORlDA C! I . - I � I SC _ __ :. - , .. _ -iNTE'RNAL SERVICE FUNDS - SGHEDt1LES OF OPERA710NS COMPARED TO BUDGET j : -' - YEAR ENDED SEPTEMBER 30,1986 - - - '. Friel Snap Procurement Management Communicalia Variance Variance _- .' Favorable . Favorable _ £tudgLI Actual' �Unta��orabief Budget Actual (Unfavorable) , :: Budget /►c" -. . - _- .. - . - " . _"E .;., -... _ Si 132 %361 _ 52,349.454 " .52: ': - - -, _ 1.- - - - - - .. .. - _ - - _ � _- . _ _s.: !:-% _ _ - .. _ _ _ ..:. - � 73 029( _ .,, .940A79 -8057 _ --. .. .... .. _- .- - -.. .,, - ' _ - - 163.122 _ - . ;. - 1.991.467 1,88t.1t '- r-. - .-- - - -. _ - - - - _ --' - � _ . __ . _ _ - - _ .: -, - ".:•t - ^; _'?-- - - - "- i50.093 - - -- -- 2,93i.940 "' 2687, - -_ -� -•. - ,�.., __.. . - __.-. -.- -i - , .,:-:- - _- ..-. - - - _ -'g582.4881_ . . . ,.,.. ,,,-:;.'.._ -. - y ,.._ 3.756i- _"�tjG3@ - 217,300' 328 69 - - - _- - - -. . . -. - - - ' . 5 --- - - 3.6Qt _ - _ - _ ;799.7861- -tm,n . - - _ _ .. - - , . - ' - - - - - - -- 73 99+ , - - ----. _--_ ____ ' mast ..... ,. ' nF f 73.607 _.. , _ -' 1799.7861 . p18261 - - _ .- .-.. - - __ ...1_1 -_ _ _ -, .- - - f7t7.9951 ft11995i U,995►' it111f9951 ,,. . -' - �, _ . _ , - , !:i ^. . a 71:601- t91 t,781J 1830.2511 - - -:_ - --, - - - - _. - - , -:. . - .. . . _. - - - --- -- - _ _ _ -..� - - .' - . _ - - - .- _ - - _ - - - _ - - - _ w - _ - _ _ _ _ - T j. - -- _. _ - Cb.' - _ .' d r - _ _ .t1. TF i - - - -. - _ - _- _ - - - - - _ _ .- _ - - _ - - _ - , -_ - 1. -- -- . _ . _ . I. - - _ - v s : - v - - - - - - -, - - - - - ' - - - . - -- - - - - - - - ,k' - - L- -. -._- - � . - - - - - _ _ - -. -- - - '- -• - - _ is - - _ i, 'r ..ry zqt� -. _ _ _ -. .- _ _ _ ' _ - _ - _ - � - - - - - �. -.rz 4Yty ti %dh - - _- - -'. - _ - -. - - -. _ - __ - - - r . - - - - _ - _ _ - . - _- t f _ - 21 - . _ . _ � - - - - _ _- .. -- - - b' _ . : - - - _ 9 _ %_, - _ _ , - h. `v _ :. - _ - -- - .. , .._ : -: ' _. Liz _ i. '. io - -- - I , � I J_" I � I � . - , �, -, ,� , 11 - r tt - ,_ f Cf .7ii t I �_ I 11W C.Q�f s ` (f,'.' VYitkr Comp f, �i - ,- - - -- r-. r: 7n.c Faros" .--:�...,,, i• s.te Puu.o. • - "r - - - - • - - - - - -- - - lmsusma, - - - ".tetY t .t -- - .. ...... _ - - _ ` T - -.--f - . SS.a5o'.t68 S8t1;?22 c,.r,fV, :�A - . - t a � .nlerG�t' . _ -_. - - -.`s`: .%F.k-. ! - - •� ,,'_:,es• ac,lc _' -iu--� - _ - - µ _ - x ,x ' 1 57Q- 19 3 f1« sa - ` - _ =:.;.ties 69.404 . - -_ - :r^7:r,nI a&, __, -' _ . :,_ -. - 55.527. td2` `fil r - k_ ,. � 4a EI :71E5 :itN'�i' s. - 3iii7 . ;taxs4J* tR . Ctie�,ttt1:{ ; t ff '"d aQl'- - -- - .•;.et- '1.-4t.-ix..-t-- Lam,_ . - - -1. - .53.-r?k -ii4 - -.t,.; -:.ti ). - - -`f'i :'?.'F - fi? CJ.t -. �:,� „J/di<- '. Y'eF'i %.`rS I - ^..,Y•+' ss ft i. - - -- - (.-k..y,t"=.-: :. - 14' ? .,.i - - f.� f 4,fto-lik L w - _, _ ..- _, _ . -_- ,J', i -. ti - .' ,- - - .. - II -.'..,)i.:,t "- -- u. tom., .- - - - ' A" -. - - t'._l,! - i : .., " . .: - '- — , M C tic - - - i -5 r=4'.s. ,. 'Y!r -- _ - ck i.raY.k -4 3 - _ _ .. - ' - - "'or .r:: . Y�.�il -. - ^ram-;7n'^.:.."" •" .:"'ey-.'.,I m",n", - ,'R � * - ""� - --'.-' � " �'. �' -'! i-'� ....... �-- �" �' : ` "'. :'.."."',�-:', %',,�',�,�'--,-�.�',�-;.,:�:,-"* - --.:_---_.- ___ _ _ - . - _ : _ -._.--: - ..-- _ .__.. . .-- - _ - KA a - ___- ,. ,, �t - ,. . _ -- . -- _ _ _ I - - . . _ . _ - _ -_ -': _ _ _ _ - - SCHE D � CITY Of MIAMi FLtIRIDA . -- - EXP£NDAL ST FUNDS ` SI RBI _ - , . . - .. N UE ..EXP ENQITURES E - ` . ' STATEMENTS OF- R . = :-- OMB 1 E - _- . M IVE�' QB N� : �tR�' H r f� ffv . .. 7.6R ING 1N FUND BALANCES C ._ ANTES IN F'l1Nti l3�1 at�Es -. _ - - - .- _ - AND .''NANGES SE.PTEMBER 30, 198f3 _ _ - - - _-� r,' - - lf<E Aid EN ®E<7f.SE Y.EAR'.ENDED `lean Ended p tesnber 30, 1985.. ;_f.- WithCompaRattve,EoEals;Fatr:Y ", E eSeteiEe�iaer �; t, ; ,-, rat!ve Tofais 1 cr .. - - -. _. . - _ - -- ;- .- I-. .. .--EVEN - - - - - ._ _ . - ' -_ . - _ - _ --: - .. - _ S ;f Pension .: Totals - _ - - - - _ - `..GIESE FIP0 - . - r insi�rn�:e Adrrtinistratian_ ... 1986 - 1985 Teus tRu�I ;. - _ - -_- ,:.: Operating revenues: - - - s. �_ - _ .,�<q � - 540 99,055 S 3,77.1 349 Contributions from employers = : S 70.83&,122 Y3,4,32:56a - -' _,. f - - ter..` ,r - . _ t. - - .. _ , -. 'rid t 25,934 749 -_ 22;465 259 Co ntributions fronn, employees ::. _ , . - - -- _T--' _ .- , .: __ and retirees - 5,829 24t 2 e -,. ,. - �" _ , . -- _ - _ _ �� 64 67.696 Z,527 220 eali�ee gain Net r on - _--=� _.- _ _: ..:. _ _ _. _ ;. 412.805 783,533 invest 0 99r1•7T290, , 2I:065009i F =:- - -.. ,. - ,, - ` �.-, :. ; .. - = _ 345;269 439 428 - t d dividends -' 1n Brest an - 8:,592,777 '- 1`4.22%9ST _ . .., . - - _ -- - -- - :., ,' - W 37.859.574 - 34;986,789 - Total 34,437'4Q 5 967 468t -. -- _ . __ - . Operating expenses: - y _� _ - - m - -. - - - - 1.392;309 - - 1;055294 Personal services: - 373,4948t'© - - ._ , - _.. . v w . - c:._. - . _ _ -nef�t payments 1f1927`346 :, tY, , �'_r.. = _ - -. :. 6:i u - - ,:: 159.223 :_ 7 -1,517967 - _ n . f ds ` - u Re . 66D985 I -- ,,; _ �- :., . - _ _ -- Total.91,8Z5: t2 6f1 366 _. . : -,.!- . . - "'S a-163 2"53 28 563.268 .:_ 24;255,306 Operating fnc 475 6 286,08 ' v .: _-4 _ 1.064',715 .. 1,824 789 - - _ - - - - - `- .. 9,676,915 . ` .. 10,325.051 r eve onoperatingome Hues u .�.. _ ,^., <: r 2 087 577 ._ 527,487 _ Other - _ . . - . - - .. __. . _ .. , -..- ..--- ..._ .-._.. __. - d '6. :' 42.950.729, - 39,515 974 Net income: _ _ . 22 475 605± a1,2alii.08 - - -..: _ .-., 1=und balances at - ��__r I - . - ., , -.. _� - beginning ofiyear t14,U9`7,6;1`4+ 19�1I,396;�55 — E, .. :u_�_ ... _ `` -w r~` , .� , 1:z . _ (5;091.155 1 ; (4,529,185j ' _ Fund balances at _- - .-. - . �r =:ra" r,� ; _ _ . of ea r y Send 13fi;57.3,2 ' $4 s82 r _. - -.1 - - " - _ 2.590.540 _ - - - r r._5, ,,-', .- E .. . .- - - - - - - -_ - - - - _ . .. � - - - _ urG wEf H" . Jg43' 12.500.615j :, (4,529 185) ._ e� - .. .., U _+ ' I } ` u:;3 .. -- _ ... - 6.407.519 : 10,936;704 __,— - . - .. N, - . - - - - -.. - ?r w w=a= . _ . _ .. 3' ' - _ - S 3,906,904 .. $ 6,407,519 -____-- ---- ,; - _ - .. - - - . .. "- -. '. - _. - - -- - - = -:. , - _ - _.., - - .- .- - - - - - - . - -: _ - L �i�; � � � , , i . - - - - _ _ _ - . - _ - - 9 - .. .. - - .. -. -' % - n .. -x _-. ..,. .- - -, -. - - L _ . day c .-. _ _ "- - - _ ._ _ y - _ _ - -_ ,.--�.. �� t�r1`�►�t`Ntlivb otals ear erslon - 1986 V� " T rust Trust 1986." 1g8� ". lldministration ---------- -- = - Iftr�uwanoe .: " .. n seven r e 'l j�rryC $ � ributions from employers g } 2 c9G � (� ¢ S �,6i99, S tip. fyc �L =. Contributions from employees as . ias53$9 gain - Ier'0 es::: fi 4f 5°6 � - Net realized on e 9 _ ern >,6, 6 #i96 4't2.F,(3u - investments. IM. 2so -. . 2 0c5.G�9 29242379 3 3. hilt>_ . 35533 ...- { � 2 9 �a - - Interest and dividends 3.592, 14,229.957 22".822>6 20:789.919" 'yyygp +�fCQ V J J � Total t �'} 34 t� .:,3'9c" '"�� � jj +� 404.Q 38_ 98 /t ...--.�..v.--~. - 26 597,B77 37c _ -- - ,251897 ---------"' Operating expen ses: - 1 392.;3t'9 onaf services Personal 3 � -t _ � , � 13 - 0 _ ::... 1.191;1`96�59,22� 261,113, , �". - �,r- Benefit payments �35 �� ` 2}.082.39#) " . 20,206.70G 'i�2 $5.250 Refunds ` o"�C ?'�5 579.239 "= 23�.22.t Grit $ - i93 - "-- 4,01$ 2.7Q4 fi_r2"c -- - �� 82 � 8b � _ . 3 =3,2, _ 22 2? �' rtt lfi i1 .. - 8 fi3.2 2 68" 28.Sfs3.268 - "Opera in39 r t come _ ?�. ! Jib' 286.03 , _ J'J_x 6 ° - _y� , _. 1 D6d.. 715. _ r . 9fir o� ..J v v at revenues, N re ooe ng. - - _ _- _ -. 2.08 7 r r' _ r Other — 2,fl63,83743 4 -� Net income t _ _ 6n - 1iid:5a 2� 8 575 42,950.729, ,- Fund_ balances at358 beginning "of _ -year !fir t212,lS7 : (78.698) 2. 15.09 {, 1. Fund "balancesat S n �� v5 e'a end of year stiuroes.. 1 $rat -.. -. 984 ;666 Q 2:590,. _. ;tit a6D5 ----------- - is sand oCher" IDS aind oth er 5831 ." (1,294,032) "". ,. t2.5QQ.615.? b6gfnP01.9d 21,992,18fi 1,A15.333 3.785 t "03" 5 21.301 $ 3.906:90 __ ... " sip - I � II - MWOF lC1i[AK F149RIOX, COMBINIM ST`ATElItF. [N: Ili assIEWaNI)UAeU YAF� ENEtMSEP1:'EMHEi 3t., t -Pooled cash And investments - 1� S Deferredcompensationplan assets.:.._ at market". Total- assets —end: of year 223 " of_year Total liabilities — begin of.. $2.5 -, Add: _ Contributions k_ .. Employee 1 Employer Income on'inv,estments K: Less: Withdrawals & Terminations (�l Payments- to Licensee --- -- ` Total liabilities -end of year _ . s 1 n }qy , -.::. _..... , .,,... �.!fi�,�a; �i1,�"_ : _ N_. �.. ,a: � rI ,�l.�L- - _ - t "Z ._ .., -- -- , . �.-�+� -: - :. �.- -i",�--,F_�_:�_, -_ v �.- , . -, .. - —: - CITY O P M"CARfII,-FtOR10A . Ca MBI NI NC STA - ._1.�_ TEMENT O CHANGES � ,1, - .. ,:.- - . (� - _ - - _ ' . YEAR ENDED SEPTEM EIR-3O�986_ :r-�,.,.1: ` :. .- , - ,. - _ . f , 1.��` .�.�1i_,,-�,L.,",.1:.:Ii�! : Cable . - Deferredf . ;, :., ` " * .a " - - i .V: -. - . - Corn pen saEiorn Tot _ - f i T. _ . t - Pooled cash and investments_ - _ - - - ---- a2 2 3 ., 9 2 6 __ _ . � � - � 2.223,369x Deferred compen` sation plan assets. . " " . &-�TT,Ii* � . M- ...� - r - - r� - . . __ at: market - _ - -.. __ .___. fl73.337 " 91073:337 _ .. - -- - r Total assets end of yea S2223.36° as U 7 3.337. St l .296 706 _ .,1VV�,�1. y: 4{ - .F' - =r- - - - - -- - .. - - Tofal-liabilities'- beginning of year - .: ". 5G. *54" t0 - - 56.=k76.982 - " - - � 8;631.,692" . ,. - - .. Add: . _ . . _ .-. .:._ . , - . _ - - ,-I�.,:.1., - - - - - - - , . - ri ut Cont b ions" - - - _` _.. -x�". " : - -: Employee - 2.f193,70 2.093.'r0 X4 u `�' - : .: . ` `.. - Employer _ 152.535 152,535" :� 7 ,. ::.. ;� xP- _15� _ - Income on investments 229.,;t) 843,69 _ 1.072a2 . -; . _ Y'.e%+ v1 i�it.: irk Eff r- _ °- - --. L eW itti t ns _ rw93 5 7al 1443.57B) - -,",. _. :,. - - Y Paymentsato"Lice see - � fr _ ) �`# y.' r __ - ,5'46.w L-r - __ �" , bi i ie — a . T otal lia 'I't' s end of ye r -� 2,223 365 __- �.073 337 - $11,296 r 06 _ , � �'i.1-'1,,i1",- - �. :. _ - �+4 fK 4 � 2:,561,2 - . � ..-�_-......-- - . _. - ... .._ - S - ,� - - _ - _ - - - - - - - . : ¢ - -. - - 1. .. -. _ - - .. " -. -_ - - . - - _ .-._- - . _ i _., E , .- " �" -�,4 -, .�I1 .,-- .-.- - . " . `" -. - . - - - - - � .. _ ." r .. � � �,�.,i�., �,�;_.,; - _ . ,. „ _ . - . ." "- .. , .- - - - - , - .- - . -1;-'1_: - � „ :.- C ,I.rl1 �I 1I , .r., ,� i� .—: �.- �1 � - ,. _ ... .. - - - ti�."1Y' ..17.--.-11 i�_�: ,, ,. . _ -_ .. _ . -.[. - - - y� { � ill . -.. .. _ - .".. .. - -: _- = _:,... ::. ! - - - - _I .. r Y 169.. Y.. .. ....-..' ...-i.t,o,'-. �M:-=', n,'_us 5a. a.�C.. t, .- _ - - ..- .- .- 1 � y - PPIrNU_IX. B ... ti (3R, I:Ot" OPINION OF =H OLE.rtVD g KNIGHT RON COU�Sir AND vtNCINT �. wtcC;E{EE, P.;. CC}.�13t4:,'�i13 i4.+`�tu'ti4I:.L August - City of Miami- Florida, - City -Hall: - 3500'Pan American Drive Miami, iorida_33131 i {T. _ $10,000,00 y aTtl Florida,. Re• a ionLtBonds General. 061ig i Gentlemen ." - _. ,�t -The C V Ot �tla We have acted as Bond Counsel i t ccz,,,,C on . ,t izc ssuance ana =ai4.r r�i �F2[yorTda i ot_ S 1,5f}F3,tlt)tI_ Police S 1 i, c�nsistingr he"'Issuer"),f rrida e zera, 4�t t : a i �n Band. - ItheMiami,t "I'ctacr I3artcls");1,0{?fl',t)()#� Stcrrrn'. Sc�.ver - ri ev,en i tin Faci,it.cs B��n�s %tire and Ce Crime ")+ St)t7,t?t)tlanitar;. SL�vet System -Bonds (the Sartitary « Improvement Bonds (ihe .Storm ScNcr f3 onds „ w bonds l.thc "Street Bonds"). . (The-PatTec' Bonds") an t)05trect and E�ieh,�a;ty ?.rf rofe ment Sewer Bo_ , . d 55,0 BgndS.witi � CQIiC 1vClY refcffcd iC+'tterC:n _ �CCuer"fonds anal". Sirccr Bonds, Storm Sewer. Bonds, SanuarY -- as e "Bonds"). herein p ta�ttt r n a,id.iot otn`zs:r�i5e etctincci herein ;halt have the same n ehninu:. 1 terms d her i.., d i on It leis, F'p rielieu _ - a t.ted by the Issuer, it"Y �},- t ,. as Sit , lC nce � .'tt' r n No. _ . �_ - as as ibed to than under Ordina; thy, "Ordinance.-). 1 ^� �3, { 4g7 (colic tin _ Ssse� _ by Resolution Nv. adop d by ' �G i' . t t, to tss;reti i:t' .hc_{c�r of fully ;c"istcrcd bonds a id c = Bonds a all dated August I,' 1'� ., .2a ,e= ti The., floras art The . are e capital tmpro�emcnis. of the Issue---- PAGE � iNTE TI+C�N.��, ALLIV, BL A N �i:. v been issued for the purpose of financing certat.l have b. `ze manner rn�a Sjpc the t •rm_s and coniliticzns -c fcarth ti titz e.. ' t — u subject to redemption prior to m at r�tF' n Ordinance. _ btc from n 7hatt be pava m a lc`v ot=. s_ on the Bo ds. and. all :nte;es: The principal of; premium if LnY,'�{tv ztn ;he . t.% e�f Miami: Fit rida texcludine homesteaL-s t�z' it direct annualcax_ on alt the taxable prop of the Issuer are P[Cdged the Putt f: , credit an :axing Gower the extent provided under applicable law):. a nd irltCrlSi.Un cite Bonds - t :IiTV. :1;I� for the payment of the principal of premium ; any, . The description of tI1C- Bonds ?n ,SiSS v ?in2on and Other S'atC Ti�ntS �t?tTCtr-�tn" `t;`iTcln4nof ? he Bonds Itta` or F G y 4 �f ` h - c try~tn all j} �;�i.Tt i7 i7r- t�.� '� _ • - l of the issuance of the Bonds do not . - :7c Bt7ntis, but L e, in ne u tt:ml t'� is erltti� t:ze _ s.sai^cc UzC ff ;t lcr' of any other document rctating to the Ti:, t'i zti,Ti 9tz.t'1 not h • de m'a' e,r'reztctis an = ..n to s tt�sr.zt. �c u,p :tu and to describe briefly certain tea rc. it .r n an.`wa_v to -be 1,ukSClc SUCC b y . .T ;n cn_led circular, prospectus or offici alsfatcmcn;, tnt ,>_rt. t t _ _ - in - con connection. wuh the site d clivcry t�i' :ftc Bonds- _ - nc F, ,ic t�f the (:�r';a:Ltt4� and wi ! .. z i •e �u_ E S set, ►ortlt bta,�+ , wt ' : is ;tr it) �i�Tn�tti 4�;th the :L}7pt 'a.t7iC e jUtfCnent - In rendering the op►nion t ntLc i ` on the eovenants and aK�rcc ncnts ;,C .. -"t Reo O& t�f l�� t�, arc relying Chat"ter t of m Inttrn:r F -( . }�c,�a r}I3;�f .i . IXc CCSS1rY in �r c:.s art IV, 5e ,.3 r 'ihC 1, ti+k e�(:"d ; - - - containedft a _ i 'G t.: i ll t� :j7C sYtC1t IC - nGtitlC Ctl".tt • t ' dtthe appl ahic rcgutzxctt� as amen niC�t ttc for fe"r al, Etf,«tnt •,,.: . - ._..". ,.. ilros� n tiiC 1;i�ni15 IrolaL n• the exclusion n" of interest o _ Ycl o n. - - - _ I z Wchay.t als ex 0 amined-,-cmified cop' -'the proc-edin les of gs f Lh Issuer and offier-informaticn- 'b 0 �e 0 su mitted 6 -us each,case, -relative -to ihe issuance pressed herein are predicated upon present laws�aact intirpretatibw� opinions ex, and sale,bv: the Issuer and� with re-spe ofthe Bonds, ct.to'the�' On.a L;1he,,P6Iice_-B6nd final ' gment entered by jud, the Cirmuit Court Dade -Our h f or law I at- M bligation wi6 respect't o. any change,o circumstances, from me Fo federat twt purpQsm aft of County Fl orida, on -J ulv- 20, 1984, -with respect to,'the validation of the Storm, Sewer: Bonds, a f-i nal �Ie cx�lusion of interest 0 n theBonds grossdricO judoffiem_ entered by Lhic'Circuil-Court of Dad I t. 11�0_ . e County. Florida, on July 11, 1984; with respect t - to th e* validati he 'Sewer on of t Sanita bleCt Eq TTT I. . iligations of the, lssuer�set forth ab4ve Ue:_sul I - . - All opinions_as to legal ot , � 11 i � L. - � . I � rj� e� 4 - laws;* in eaq casci, r14 Bonds, aj inai Judgment en Lr—r ed by -the Circiiij C TY ourt of Dade Coun Y 1, 1982, Flor da, on January with respect,.to toritirry similar - nsolvency., reorganization, mora or bani�rUpEcyl.. I so e Eh (blapplicable r �.quitabkprinci les ES and law -and thevalidation:_.Of Lhe�Strre j ment. entered by t et Bonds, a final �udg he Circuit Court i rs' righ. �r, f o rc ern ent of cred to of- Dadc'County, -Florida. on January I I ore2oing we have examined and relied 1982..In addition �to the f �upon the opinion -.of Lucia A - D oughertv Citv Attorney, lief. _nj Linctive or bther�qquitable re- b cen EQ! the issuaric c of ihiz Ronds have- � cen and sucin: other. a&ee entsi certificates d m and opinions, including c , ocuments r1tificates -and repres entations of public offic; - - e 6Lhe tals an d r officers and o pe of our engagement in relaflort, -rile se ed hercim Wet h. r crin th opinionsex resS. ion of factsand taw incident Eo- end .- g e: . � p TP17-csentatives of the vanous parties participating in this transaction, as we have.�.deem6d:r elcvant and na L astcaheaccuMMOmpt tqncsx. rify and therefore express. no opinion n I n . �,�-jnf irm. or- ve othim or, any necessary in connection -with the �opinions expressed below. We hav e riot undertaken an independent audit,� exa any exhibits, or append7K es; thcraoF official Statement.�Or sanoopintoll- ccpres, ml-matiori. in%�estigation -or inspection of the matter�.descnbed or contained in su ch agreements, d cerifflicat Ocuments, d ti T1, we have not been eng aged Ea and- therefore ln ad 1 -0 ouLaxion or r Stdte'stat4tC''re= es. -rePresentations ando inions- and have relied solelv on the facts, estimaks and circu ffistances described s p et fo rth therein. lie .3ond's al or 1he Issuer Or the u ride.rWriters with any feder -and d tio of the Bon S' �;jlic or distri-bu A In ourexamination of the foregoing, we have assumed -the genuineness of signatures on all documents andinstruments, theauthentici 1_v of documents submitt ed 'EY your's.� SincerL as originals and .�the conformity t 0-originals of, documents submitted ascopies- T-he opinions set -forth below are expressly jimiEed to, and we opine only- JJO 1L LAN KNIt, G�ff �-with TeSpeCll to the I awS of theState of Florida and the federal income ta x laws oF th C. United States 6 f America. Based upon and subject.1to the 'foregoing, we are of the o 'i p nion that: nt -0 The Ordinance constitutes a valid. -and bin din obli -D gation:of the Issuer, enforceable in accordance with its tterms. 1(ii) - The Bonds are valid and legall bi y riding general obligations of the Issuer, for, the pa ment y of which lhefullfaith.� credit and taxing power -of the Issuer are irrevocablv -all the taxable pledged, and property -aithin the Cty of Miarni, 'Florida (excluding homesteads to the extent provided under applicable law) is,subject:to 1-fic levy of an ad valorem tax for thepaymenE of the* principal of-, interest on, and premium, i any,with -respect to the Bond' f S. (iii) The interest ton-ifie Bonds _(i) is excluded from gross income for federal income Lax purposes and � ii) is not an ittin of taxprefercrice for purposes -of ihe federal alternative minimum, Lax _mposcd ith respect to on individuals and corporations:, -however, it should be noted that w corporations (as -defined for federal income tax_purpos6), such�interests is taken into account in dctcrminin.a -a justed d .-net -book income forthe purpose of computing the, alternative minimum tax imposed on I such Corpo zxpre i p gr rauons. The -ppinion ssed in clause (i) of the first sentence of this ara aph is Co nditionedL uponzompliance by _tbe Issuer w.i Lh vario us covenan ts; -contain ed in the R6ol u tion, in cl uding �'wi th out limitation, its covenant to comply wi th th e zrbitra g e Tu I es an d: reba te req u iremen ts con tain ed u n d er Section 148 the 1986Cod and its coveriantnot to use any proceeds of'the Bonds ima manner that e activitv bond _6on 141 (b) of the 1986 Code. would.causethe Bonds to be classified as privat s under Sec Fai n-d other requirements in the 1986 Code r to comply ith lure of -,the Issue w such -requirements a ith -which the Issuer has covenanted to com I c uld cause the interest an applicable tothe Bonds w py o the -Bonds to be -included in gross income forfederal income tax purposes retroactive to.the date of. -.issuance �of Bonds ,Other provisio s of th -0 dcmav, give rise to advcrsc;fcdcral income�tax n e 1986 o I consequencesto particular Bondholders. The scope of this oIiinion is limited to matters addresse'd.,above af �i thatmay�arised -to T1 pimlo n 4 s expnessed b creby regardin other fed er ax consequences Ue and o:o o wnership -of the B onds. iv), The.13onds are exr1lipt1rom all,preselit'intangible personal property taxes imposed bv the S tc Flojidj. ta B-2 7 A _J T E". �.�;���: ��. �.� _. � ; . -,. .. �.,. .. �,. _..,.. . ��:;�: _ - N I, - .. - - ., : k j __.- . . . . _ :. - -. . _ - '. - - I ' I11, . _ ,-1 . - - . - - .. � - - - - - - - - - - '. _ - - - - ' . - . - - - .- _ -. . . - - ' 7 - - � - _ _ - - - _ - _ - � - - - - - - - - - - -- - ' - _ - - - - - - . . . - _.,. - - _ -- . _ ' r--- ;: -:. a;le�es 'oreacn o! _ -:r ` _ .. - ,. _..! full Zectuctio - y _.. _ml _, not ___.__ - _. -. _.. _ Ii, ?or ?eve Amend - ...:. _.^., _- � - _ _ - - ; i - C'- M i � e class that will �< --- , __. .. __.- _- ^' i r'] fC''iaele wou :F _ - id -.... _ .. _ ,t,.a nec as :o-counsel ., - - _ _ -- ..._ �y pole Plainuff _ _ _ a: '.: x�, a:3 �lt:f i.alleaes '` _ _ - -- ' -_ -- � v-. _ - ,_. _ .. s _ as te. aLelcd I. - , �__ _ .� - ..__- w _ _ - ,.w_ .__..__ .r2nl co Gr.-rcoir. Due = 1. _._ _ „� _ - _`- " - - -- , _ .,,_.. -C- -:tv :a 7 rpsen: as n ut. en the °> w�_ . _ _. _. „_. ...=_� T n=n:oa bt T*rflrn?on; Ditv�d, . . � ._w.a ._ . _ .�:.__ ,. ".a.. n: _._3 Tr£e:�3se K'3S ii3CII i _. _ _ _ __ .. _ . -- .. , .... _- --;e'- c : --ice cou rt. There. . - �. j.; _.- _. _ - - ... _. - - xxic;� •,kas bifurcate- . _ _ - - - _ - .. - - - _- e ..' - .T- .. _ - _ - - -_ - .. �?e , __: nenT Ge(rtter�_ at { _, .. _. _ - .. ._ .{ e.✓.. .-,' Tit:,.: r': L�r: t_a�:terQ�.faiTtson.- -�'�_f._�r - '. 1. „ - �_...... _. __ _-: -e.: _ � -,._. _ --� - ,.:. �t °^. -ale fla .ne caaraes . - _- .; - ...- ��, . e :a e.c,, . ey<< were `SY:�;: '- - - - - •• .:.L'.F - - __c_ - - __ _ _. -' -- _-1-- ,...-- _ - `?-'� �`:-.�.�E°i t, rs days m - - _ '-- _ - _,- - - -' - --- - I ' 'r1 . , ", . ^r_ r- �. i-:,i"i.er: C:rzuil Court Case No. - - - -. -- - -'j' - .... _ t .! 3.ar!'J :4r :i`Mrie ul Qe3t:T as result -' - - - - ._ -...'.gym. ._ ....,,, r r _` _ _ _ ' ? 3S{. 3S,C r a 3:C 1 3'$;�}$;{}�1.�'erdtc[ - e =- .. _ , . _-. .� _.s�� T., -a_=e u.:e .ti �enort� tar the -- -.�._. _.._ . - ` _ LL -- _ . _ - r -7Z .,r ey.. re::Ja�a n�icd by o.ii.side" z r.. -.. . , - .___ . _ . _ . r- _ : rl ;u �:Cli:t:�{t� D;cA_ron,_fnfifiTrrr.rally-: wr f ,__ -',^ ,, _ �,> . _ - I' -- � ,2 'r?z:C. -!a e ir;di' ,Jd,:a,gl' •�rlII t.^S+'�SSISICI:1. r 1 .. �L A ?:. f: ^Ei:, . �L«C'.7 u'.'1`ifs It i?I1Ql iSSiS1C1lII Chle y. .7 a�:. _ _. ._ ...-, '^�:.;r - ".- -�"_ .rt t'.:.:f t;n�- sT�il'iC:iruf:ltorrcitzsCbrrirncnder- E1'' I T _ r > G _ x., L' - _ It : �r . 3,. ?:JI It zn i GE1`If:F/1�15' a/id [ZC -. r 1. .0 --�' f',^ - 1. _ _y ., _ C - _� - - _.:- . _ ,1,: „; �o,'.Ce De. Lrirn -!, Casc,No. - - - - Jam. ....rt .. v_„";�- _ -. .__ "",`-">1, _ "`. .. �.'^ ::;ii. a Tl �tr _ - �':i: co+..L:i.�rnJ a.il-_atron>-_ ': "-:fin - ri:x w4.-._,..:.� - - , _, _.. _ _..,.-_„�, t.1 ot.,c--n's.Bill of Riches.) _ ,. �' ... ;.. -.. -_1.. s .. , '_� _ r r „� - r__ _ . , . :"i��: !x cc'. =T 4 n til . _ _ _._ _s r,c :i z__ - �' nt,onal .nf:icz o >> _ _ _ . . ,,<. =r _ _ �� _ - ` �"t c;t::. , is romiscd"' position _ 4a _, .- .vv _ . t-;- - 3 } � Jy - !+{' T tl .�;,, ff .. v ,-72L ;� �, -, mcs tine.t-ss ass. nmcnis- .. '� °*fs wt tr. Y- CC„ r.�'�i1Qrt 1f 1,C..C:3i - _ - V .= ` - - - r . -. - . - - :, - -1. - - . _ - ,� f'= j , __ .-. -. ='. '; _ _' -:i " t 44 - - - -Y"` :7 i.. .-- -, - - - - .. _ - - - - - -, _ �- - - ,, I --.ww - - _ - - .-. -- - �...- f :t , �is6A ConnnF; ham:_114 tiff remains a Captain within the police tfepargment a I:;�� plainhat action .b0 C Cfen R at the University 0f.Miami Plaintiff:has atiege t . d t C reff, F - his legal studies: Plaintiff seeks both: monetac dama8 - wrth >; to the rank of colonel within the policeoepatmene - a ©onna.Robey;>r The Ecty.o cwfianrr rrrunier: " I earl To: .Donna Krng, flk/ Vieto• Circuit Court'Gase eta. 87-U1066� & .' A. t , intif f alleges _that. whits in police custody_ she was assaultetN; c©CgCec# P. . and -was raped by police.officer luau Carlos A_1`IieE�. it o V iamk_CircuiE Court Case NO, $ � Willie lde Livtngsto►t v, C y - �l' - E whrf i% 11: out of the death or Mt _ gel. - This is a Section 1983;case. growing -the orldcs and. Qms o- eh of: an overdose of cocaine: Plaintiff alleges thaC pti entitfa�iiin-correco Department were deficient, or that the`officer werone I g - - tbe roven.im,rglttofthe-apply- I,-sel - �.lchough Section 1.983 liability canno p rcEx theec• . q various allegations of:negligenee whidt may I ircuic Court Case`1� ( 86. 4� 12. ,Alfredo iVfarin v .City of tLfiarni, C sea .etator waFCeein€ Plaintiff was :riding as, a.passenger on a motorCj elf wha .p , ontrot of lire matotclrcle',; causing t't to collide ;uetttti The motorcycle operator lost c operator of the motorcycle W as kilted U1, the eotiistotn and l then a bus bench:.Thep . d -was. hospitalized foe_ an extended period of tithe:.' Plaintiff alte~= injuries an . neali ently caused the colitston.' J.- { u is ,Vlinga v Clty of �tiFtanrF; Ctrcuir Couee.Case�- k 13. Robert-& J 1 _a . On May 16. 1986* p lainciffsutnmonedtheCityoffiatnnE'otcetohishohtet� sera le ensued between ��allcet andOfeer 0`�in"" s a :trespasser. A gg service re voI- and shooting pCainiiff three times. �triiamc a aL_Ctret it.CQuu -:.. - - a,Vfoltnarr._Cityof ._ 14- Bruce G_,,&furray and Faust C"it of.:lwtiat aitdx rrdivt This : claim for.. civil rights, violation against eh hes and negligence-. fie; cCai - UP administrative defendams: for violation of civic rig and att`egecKY lists the plaintiffs. were taken into custody ._ l where two-mococcyc . osureforbottP civil rights claim can fall outside the statuto Gn?iEs'p - } - ircuit Court C`JACNop M� , - zj 15.. Arthur Roby V. City of �1�lrame. E u 14 hy' City Police vehicfe 1�f Plat nciff was'driving his vehicle when it "' s r c . arivec staee Etrattth. makin a proper left lath when he was stnicl�- The h ntent- pl qt9- ' improper U-turn and,had not signaled or indicaEed - aS a result of the accident, as well as c?eher assoear . that he `requires surgery the Fstate� a l_ ` - - rsonaf R'epreseIn: tarrve' a 16: Christine'Thor�tas"Rager�s: as Pe 6� - iami . et. al:; Circuit Court Case NoY 86b 98 b�c �Retr CaC411- of ` f warrant On.October l �. - W During the execution r f a -search lace the dcccdzat, Kcith 1ct ml� wad r at I2. N.W. 1.-P .. titiamr,Police Office :..Fernandez. - - td, . ersonal' Representative crj ehe Estate alrQoRat . a . 17. Rebecca B: Shawn as P ice lne r:��erropoiirarr f3ade� Caurety t plitccdstE9t11 Edstern Ambulance Sery Ciraut4, iatni a municipal corporation Of the St'ato- J 1. rr a n �rQ and .City of ll�l etc hone repo€c-concerning. an indu�icluaet sea e g . 3 This='case involves a.t P- cot Hlasrcferacd.colandlc=Eastest�rt. to the then existing prow a�iCe4' . 4 according to respond.becauSe there.was, no. source of: paymentPatient �4_ t ent anshooed be ctd .l'eabte: V q- p . aces: Iris' alleged that the - _7 is negl S . _ C`J - 4 : -- -. .. i -_ i - a` r ;ontinues his. pursu`t at`:a saw tie�xce. -I Captain within the poEtce de�artmcri, and also - - - dant5 have caused iiim et�nflict- E pl�ntiff remains Plaintiff.has alleged zhaL actions by t3�c"efe�t d' cgitit tbtc rc{Icf In the form of a p rriot b taint alleges- reach -of University of Miami uction of... studies Plaintiff.seeks both monetary damages an plan. The Come at the Fri ian *ft Stbup: health ansutaitce p. - i atioizf the;oontract; unlawful red with his l of s �iaaeittf elal g motion for Leave to Amend _.: e rit Plaittttff'.M -. to the;rank of colonel within the, palic departrrie r iurrlr. t. r rrri �Q! crrn�rrurion, �rircr` .}>carr Crlos g i " f tonisulraiaceeneeumberm0f membersof Ihe:classwould : Donna King. 1� that w,lcla Donna Robev v Tile Crry �r ry�ass.'f11 if found liable, 10. V6. 37 Csit}C {r3i „1 r- , :,, r �•., - ,µz otila a City: Circuit r dsthatth y - C' t Cou ,d: a , rr, u�. r itied.'13ased n refunds" to $150,00n. Veto - A I t Case #a et3eranvvouldbe�lOd, '� ' ` fan eof'CpOsuT. tiff alleges that while"in police cnstoeiv sl"is ,�s;,s '{ e g ounsel. am A, pt, d as co c Pl wis c`-Bockius ' fio uit Court -an Taped b a 4 � w Y Police otficer' Juan'CarIos CO - - - :-- t e _ Pizbl c Works, Circ . s�, ,Depart�nen1: o a r�tae. Ltvtngston .V. C1tV cif :titrarrrr; C ca ate s.. t i 11 Willi r , ti?r -3cn West ~,+ ;ii;c :n t mice =Slte,uyr ns n t $<ici r�t�t5 - grow in4 out cue t to death of 'lit n that the policies and Customs of .heC;ty t,f �ttami P rEice . e3iicle and,a uu y' Pole Plaintiff. This is a Section 1983 'case llidtd „vi#1i another . Plaintiff _-alleges z�to of an f cocaine Plaintiff alleges t ,r . �� gent in ' tilirtc. to Lei a�nUzi P?ai�tt:t f'S -ond'' n. a sty acid Co er,od of time. Pl _ has sn oT , tendCd - re t it�ed matted his view as he traveled d 3t . , Department we o 'Point that st 'Obstructed n ti ht'oC`the applicable case la�v; P°atnr.ff �s at deficient or that he officers we to be . roven i s . mad ~ own _ _ I' E: dad ovtx$t. Although Section 1983 liability can a` ;tacit rite jrrrv. - not p ' to _ _ - �# various: allegat ns of nc�Eigcnce which m . '• Ir it n fast: Flo; Sd 11 3,( : ernando ,Gandon-: Due . t ' 4 t aiTtt case tia. S6=23` C . �['rttmi;. ogee otf errs ttram; Circuit F r inn a morarcycEe operator was +teeing from C t resent him hen 'the.. - ane scarf +ore azz�st orxner- olice C�ffacer T� w 12. .Alfredo Marrn v.- city of > L ' whc}se ap anocagitta�lly, and -'then declined to ornton, David as a passenge austng c to toll do with a CtLv na't�� venttt�: and: tefl td and 'Tbornton f ;Th - Plaintiff was riding _ _ counsel, rich tried clC operator last control- of the motorcycle, c z, d the Plainuf f ,ufftr; d ,cr:ou� . outside case,was to The motorcy - rcvcEs ivas i;Eed in t to o�4x�tt�n an i, ,4. licit ciri�= ban�iic�- y teal. ThC the rrsoto , -r r n eat the Ci - e of i.le cs_ once count: There een a 1. ;b seats: I<�he quit agreed to bit urcatC against the City. on the neglig d -then a bus bench The operato - �' a,na inenab and was hospitalized for an ertGn cd pt'r`'d }. t m' h.a?veclicto$ast3ilD which was bifurcated 1 ' tiiattei.lieCivil tights count against the City io - :. bfrurnr> Circuu Court Case Ito. 3' Cxifrt tiM; kN { t7 C J ' is t1:5 home to ar. c5t �n� ianV, C Carl, negligently ca . at sedl a ;bongs po,,ice tain:a, u n ii Dade courtly, ,dlbla-Rape;Treatment Center C s v al 13., Robert & Ju .e�rtopol�ty 1 mrnoned the CiL} of c uttinsz. in 44 k` ob 3' _ =d1b�►e'l2ape'Treatment Center ojJackson On May'- 6, 1986, plaintiff u },L'alkcr a'td C)micc* C�aEtitn d.eL r s fide 1(�tietcity of r_L - , at le ensued l3 ;�30, 136Y3=C1 V-1VlAtCLJS -- respasser. A strugg .- laint�ff =h "' f the tiff for jape on the,charecs: service revolver and shoaung P ct.tiouti C:aSe Est o L tunes ,. arr F3 fiamr, et �rl.• i:.irs:uit Court C..:ts~ �� =asesulut�g from x1ie, were t c !t they ' F 'icC fflcer5 inclu 4s e center:; etc., �,vaP made .at Elie, crirriC lab: Tape 14. Bruce G. l� array and City �f. ti `ami and indivtdua: p mien the gists spent 53"days in of l _ claim F'Qustlnv.ttulina ". C:t • ritCv's office: The Plaintiff sp w , vt titian al the -I•hc ..#gym arose out ai a'rattiL inctucnL e State ►tto _ This claim for civil riShts - t9i .. ion ��f ;:ivil rights and negliz ,�cdly sevcrciy hcat�:n Because u5c t ibta�+en tb c ed: administrativedefendants far.vca�at } cn into ustody end site_ 000._ were- Eaintiffs. were taken - c t (� t'maL'Cl �c?tfli where;two motorcyclists; the p exposure forboth pEaintiffs is zst i rxvnrrt and'onald:L..A'ulcher, Circuit Court Case,o. - It st 11ti�natPr�lioe:Depa ca . ,e it La. - civil rights .claim n Ci aut `de the statutory Itrri to 35 s ; i66 C ,t at he w ircuit Court C P aanaff a `e s s 'h a'claim for wrongful death as a result�, . City oJ- :4liarrr+; C k by a City police vehicic #t �iaed certiorari -in this case. It is and aside in which a 5595;OOQ 1'crdict 15 Arthur Roby was strut ' rdecision vvas set as his vehicic when it s ff was driving The City', driver slate's that the p{dime€f was 'na disc nrt . c chase: "sower court r the P enses. �' lama when he was strueic ' .. 'de `' : akin a rop cr indicated -his intettLions Pla�ntit'f al{cecs a'terL fared oz`�' Fees :N„as:asscsscd. This case wili,be teed deno o to er.left turn ``� giiei�titixtorncYs e_a peal.is_being_'handicd_by outsi making P_ - ` foi ticaligencc. The P slit accident, as tMzli a ,this -6, ated met caI t c*t ' issue pf damages _ _ f - - r t 1' �fclrZflL cC - L stRnaled u improper U turn: and had no result of �itli CriUlr�y that he,requires surgery as a Ire Fs ate .i. t.; ' ckson. indiridualft resent�rte,z cjJ . - mi ':a municipal rvrporation; Clarence Dr rrt : istine Thomas Rt��ers, us pers � 1 h` i iE�€i6 00) e: a ` ;a $vred; individually 'and as,4ssista . 16. Christine r cr i', I `I t: by t�Fficcr Carlo- Fcr tnnd�i nnhv't)tt2}cr 'iQtni ft lice Department, Alfredo - k.n _,. _ _. ndetson,:indiaidual,vurrd..4ssistvntChief _ of ltitiami; et. al.•:Circuit C,�urt Casc n n'tt bPifitnt P1altce,De�7nrlment, Rerr_� r1 ' a r rti t}n ' � 'SInCt.fl. . - - � individuallyand crs Cornrnanau ly3_ Dc`ob w C a t, . � �.., ittQt ce meni~ CoI.ReltrredJ:t'ttul,flbo... Dunng the execution aC a search d I, ricer b ` at ' ' ''� 1°i 1 Place the e� —dent. ' °blr 'lfa yr E:B: Putman. individuaAr .and s Policc.Offic binson. Miami ° l li andall 1men1� ;and r 3 Fernandez: �, he E5Fi2t _ rr vfrth4 Stat r crl Fl�tri�f� tttni ,�°olrae Depttr c�� tr �1�c, the fat •-o Aliamt Police Case c�- ' - .. _ - r r'"'tiftittt' E)f r- L[PrST(a () , t -. on:r�nagcrnent Seaton f 3 f S a D' crtle C��trnty. a �<Jl� Cssc y-� � B Ireit Court _... cca tc call, r.r .:, ... r' ne b1Rrof1n Florida:Flr�rtdcr Ct11 _, 17 - Rebe liar as Pe n Ille $tQtl ! f n o 5toinz c earns. T aiiiciiesh'oT slit police'department, contains al.,.eg-at n'• „. Eastern ambulance Service ► nca� carfrorQtinn t'I ilwt3Y,aptain , n'S Bill of Rietlts}. rni; a man P > aii tndividuul suffcrin tr m �rhicli nllcgcc:ly Iailcci afisiiae'iinder F1a:.:SLat. Ch: 1121. (Po and City. of ,11ra r�rt conccrnin<<.'Ain ' as,"claims aI ini3iction t�f _ ves a telephone rep - v lti. re.t°erred to Randle-Enstcr r ocltancc n acontractual relationship; _intention ,rotoCol, 'orient dicer, alte2cdly a5'tI" ` »fli�v led bv�chlldren. taottalatcrficrcticc . ith. This case iiiv.ot ti mice: Plaintiff allcres that he has otbeen-promoted tfl.thc `ypiomiscd" positi4�tt according to the then ccis`4as no source of paymc`tt 1 Cabt�. "Elie p:it cnt I but :has: instead, beenransferi'cd to meaninelcss asstgntnc.it, " utd be held t 1aartment to respond because there Iaim oC.dzprivation of.ledLra. it alleged that the City cs negligent and'h • . oils b±r afite:dcfendanis.arethe basis for is c acts. t state 4elaiin5. - ..... . .... T g re.alury, 6uld bevcr�,SVOn befo -0. m4ht return a vel dent Jur—Y . 24 Co v�ntion Center Litigation n 0 tit Judiciat Circuit (Case NO, A n t Filed on: May. 24 984 in the Circuit Court f the Eleven 'Im :40diA complai �%Ams c o ot er things hi that the us S vings Bank sucd,*the City.and, Dade.County all ging am. ne h 847 18744), Centr t a i da f-giamiand Dade County'. County m dct*rmi ations, that the Parking Garage- complied with the South1lbn City and adc erroneous e n C suant P4 V4' OT V City has settled the ittgati oa with e ntrust. pur Buildin Coldc's-rcquircments 0 fire resistivity. here' I jifitiff, Shanreka: Perrv, Vd during the 11980 n. ots V V& -;oc certain improvements have been madc,ta ther�Parki ng 1 23, 19,86 and certain to a�sctticmcnt agreement da.tcd Ju Yum liability to, the City for expenses. is. F joint expense of,,thc City and CcntrusE.Thc maxim daragc�at the struck bY.,a runaway va ihe i=- -was stru c suttai ned serious arl;' mcnt agreement. In addition. the-.0ty.has filled a. Third: Party -$350,000 pursuant to the settle I I ... - I Capped at. with ode. On- the C . d !ges .1 Ali lh far tive *141 having -her leg arnputat-1-c. as �b n comply' complaint: against MCA for the failure ofa;ctivee,.thc: Parking Garage -to c filed heUnit dStatcsD'.triCE,Court for theSo thern District of Florida - c is Hyman t ali Avas tiAlyba.s edOulthtOrYO neg ligcrice forfailureto propc�r' y a - V an 140 ember 14,: 1.986 s, -1359) against -MCA, as ertine LhaE H%�nan is owed in ex ccss 0 f $5WOOG by N MCA for iL (Cak, No. 86 - s has filtda-Third -Party complaint in thaL.Taction against --City Aid'-fiot have pot"'Y its in -that the QU, Iva -120. . � - I ate the. -61CMAnd iti failurelto Proper Y anticip resui- c work in constructing the Parking Garag . MCA . I fS9a1,,000,.TheCit hasfilcd, the.CiEy alleging that the City has_ failed to pay a requisition in t he amount o y -motion e�i�Abe toult'dismisse.0 (an.. -in a parallel case upheld on app ca. a Modo Dismiss the Third Party complaint and that is currcnEty� pvcndin=t, -n to h I lights d still stands,and is sr e 'd U C gence�`.,Illecivll aim ,a �'y from workers' There are also various claims. an d lawsuits against -the City resulting principally 8,647308 (10i n above listed lawsuits was such laims, anti for the abo and casualty claims. Estimated liability for c �Comansn cas al Note 12 Fth Section,"FINAINCIAL be 30 1986 in-, 0 C of $30,196,050.00 as, of SO= r , �;[y anBauon. 1Cir&Uijourt -Case-.No. th 6nue and Flader Strcc-. i t f-S.E. 3rd Av ed inthe amount � recoliability t& t a xccpt as Hated above; the total heCi STATEMENTS of l Financial Statement. E. STATE -of the Annua. as, there been 1986, h th tiled -sid6vAlk-Plaintiff fractured tier M significantly Ouri ng the time that: haS clapsed since September 30, nor has not changed- sign he Bonds.d materially impact upon E that would m ti 4ftdftoW#rdSchdrWn1V. 00 of ffiami, Xavier L. Suare,�, 'Willer any subsequent litigation during this time period d 1.L'PJummer;AJ.S- ➢istnct Court C ase No 86-111 Sincerely, AbAppetleft.h6icA,t,yCommist�ioti'sdenial �ofib6r zoning;applicationi.- have a4'50 lligbway, 1n a'separatc a they , eatdW347-1:M= ctionI thev -h heir pro crty-In connection. tit t 3i�g iotdinance as applied lot p Lucia A. Dougherty f. the Cityl denial of Tczoninp. and 'land use 4wm1gts tesu tmS, rom s City Attorney mmercial-us- ity s 0(p ed at S4 milli -on ages,bowever"theC osTarc is estimat di *btell the Vtoperty,10 the -City for S6 million. This-.cascisbeing,han, led &N.Viami ph ins. Ltd... Joseph Bobbie, South Florida- S por,-, Do, =ict 000� case NO. _ 186-121 jollied Medical ed as d6fendant... Jury *crdict I-etumcd in favor of plaintiffs but the Courl ,#W-fitiffs leave appealed and the appeal for the City is being handed we f 1he tv&je of A� ed p4W��I&ti o lien PeterSOn ceas :JW Circuit court Caste. No. 8M5298 ( 09) 4l 0. V14 ladmon t4emonal liospital.T s pen 10�rrinjijriCS. PWnl:lff onal representative Okb timtft6veditthe -timeof-thc=.cstbvpolicc officers. Metro- n In t" C ity It 9 the defense of this tase,l compensalion-Lifigaliot? (M idaitrisin litigation Tegardin �t u I c. This issue deals g he pension offset iss i�ti go'atd frorn payment-iof Aisabilitypcn-sion for th6se cmplovces -Z-ittgulti6filaviti?.�beenitivolvtd,iii on the job accident.,The-offset -VAidb,y t cCA crs compensation bencf-its which are in the form ttiiata�tartaaYasabiliry.::W-c also ,have one lawsuit in Circuit Court. ItNift, Ab terfify atl;isS action but has not done so, yet. Of i* y four�4 cals.pend' app Ing in the First District Court of Appeals: C-5 -4, F, 5