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HomeMy WebLinkAboutO-10272— �. r,;,n::,<,,, CyiefU+1tiSt�YL1u :ts>1E.7:i3%%i�:�S�1, 15kk5rof+t� atCLWtL.�'u.. - ', t - _ ''� if - e+ Iid- Miee with the terns bf,'', the 86hY �u�c� .iy A: r e tent end ifs the �sianiier p�.ovic6d ilz 8ectic��� 1 " 3,85, 'Il ; is - Staibutes, at an "a'9� -6 Ate ; p,.ii chase . Prue. t appl't� l . � bpi t��@_;City Man' .' - f .,h6t '' sse, . " thsn _b16 5 the di lgii�a pinipa amcs'ulit of 1_1.the dtid§ 87. 961i11 t�9 ( .ACC uain or glna� �,ssti4 aii , i�1 1tsj the �ifi i litnli l I I ..'case r, cej') end a't e ; true; interest oast ,rAte (►►TIC►, ,, i as ap�tPV.Od the ity ` tanac e�': nbt .. ,to :ak66ed .. 8 " .% (the irNta t� mu t, `'the erie ,i. 1 `7 S tias shall b- `i-umb0r�a c;onsectititel bti 1 .ripward p� eceaedy, .the letter.: II II prefaced, ° to .the, nt�tnl�er. 'he''principl d and. ec�etptin p'retniut i ariy, on the Sees 17 ' -6 8 Shall - oe 'pad'able.. upon.' pres�ntat,ion.:ah surer; 3 . render atthe prince al coYpoY`ate trust tiffi6 t�f the .,$ond.tegistraY and` haying Agent interest on` the 1987 Bonds sha11 be paid `she6 . car,. , .Series draft drawn upon 'the laying Anent and tai led tb the , registered owne3;s:: of the Seridt 19.1 '7 i3onas at .the addresses as they appear,:'on the registration b6ols_ by t RegostY- . at the close of triaintained "13'' business the 15th day (whether or nota business' .on : clay) .; of the mbiith ,next -_preceding the interest: p payment Bete (the ,Rec&rd bates)* irrespective of ,-i�i an transf i" . 6r _eXchange of such Series 1987 56nds y. ' '' ,���,. subsequent to such ., 1zecord late ;and. prior to .',such`. interest. payment' date, unless the''Issuer shall b,. in default ,in payment of interest due , such in- terest .payment date ;In- the ;event ,,of any such default; such defaulted _snterest shall be payable to the persons in whose names 'such Series 1987 Bonds are at the close,'; of ,business on a .registered" special record ,date. for the payment of ;such ,. defaulted interest as established by.''notice depot, sited in' the U S mails, postage prepaid,' by the __, ,'i­, Issuer to the registered owners o: the Series, 1987 :.i. Bonds not le,s's than fifteen ;:, (15 ): days Pr " . , ng uch' special record date Such notice `sha11 be ,mailed, to the persons; in whose names th`e Series l 'il ::. 1987-,Bonds .'are r.egistered at;the;cloae of business r; on the fifth .-day ;(whether: or not a business _day) �.,j*,,i preceding the date of ,ma ing:, The regsstration of �; " any,. Series 1=987 Bond:,may ;be _,;transferr,ed upon-. the zegistration books upon delivery thereof t4 the principal office 'of the Bond _Registrar, accompanied , i by ;.a written instrument,or instruments of transfer An. n. form': and with guaranty; of signature satisfactory _­-"�"m� -,to the.°. idind Registrar; duly executed by the Bondholder or;Yiis attorney iri-rac;t or "'legal ' .repre- .�� ` sentativ.e, containing written instructions as to l the _:details of the transf:ez of such Series . 1987 . ­, ` Bond', along via th :+the ``sock al security ,number or,; fed.- eral' empioerdetificatgniumbez of such ' ;. tra sfaree, In . a11cased 4f a transfer ,Of a Series :..: 1987 Bond, the Bond Regis,,rar' shall at the ear,� lest "terms te�'aof prasti_al tm� ''gin accordance: with the erte,r the txansf 4 4Werhp 1 tee�tr.at� Qn books aid si�a d l v r lip t#�a name - the near ''', t'?se'aa Q tnsfreeS a dewu'� ly rega:areci ;: a s 9�7 BQnc 4 ;Bpds o€:' tns'em matu;, end i Q£ auth� ie' s ama a aon c cx�4 n r At Qx s, �r 1 [: �-,�i4'; the s � � to . r n4 pad. t n aid payak3�� f1.iT isuand t#�� x4 t ai Q._ e� �'�ik: ongtae. 130nh4 t t ! 4� ::; 'fJ x s e © �' X,'4 ,, a .: s 4 7',: BAn aA': am4 n W* c a to y ,;,II :,,., ;,.. 7 ` "' t '_ 11 },t 1 i, ' ' ul5 mti - . �,:, .. „. r - - -� _ i i�d tt�itil sudil "t- A-rt1 ���at'e 0� i au�.i�'e�lt� cc�t� on Sh'AI hake beet, dtily es educed y the 6hd Regist At, ah J sttdh :certificate 6 the . otzd f egist tipoti afly sti")`l. :eries,;1� , I" shfl1. b ddflY Ili. i e idei c that,, sU'dh, Se"ties :`1 87: oiicl "his been daily, acitllent3 ic Gated aril deiiverect uxdtt, this c►rei�nno�4 'theoisd ' fit, to ,if authent�.cati6lft, 01 h any teci'sti'af s c eta Bet I4is 1�87 ,�dt�, shall �e deemed ; to hate beetriI, du �r executed; �t signed by' an �uth�t-i��d t�'��i�er off'; the c�Yii� �i�glstra�`� : hilt it sha1� `Yidt ,be rieeeesary that the f9ame ,d -icbr si i, the dertificate `off authe iti eatonn aid of theeies d th At:tray be issued Y�ereunder at an orte t'itne , 1E: any Series 1987 Sgnd is thuti'lated;. , desttoy6e1, st6leti dt lost", the Issuer :dits scent mar, ; �n its discretion. i.) delitfer a dttplCate - relaeeriient series 1987 $end, ` ott (i�) 'pay >a Series 1, 867A that ;has ittatu'red br i"s sboUt tb mature . ' ,thud P,'tttil:aced ,,Serifs l9'87�'_'on$ shal',l b su.rr.etidered to and' cancelled=, by the clerk or his duly authb fitted agjerl ,: The o,ndh'older .must futhith:. the T ss�ter or .t ,agent :,proof of `o,�net ship, of any desk troyed,:stolen or lost S 4' 1987 fond; post sa, i, f c.tor -_ indemnity, comply w th- `ny. �'easonabl_e con'itibns the I'ssuei or its `agent may prescribe„ and; pay th;e rs;sUer or; its agent.' s reasonable ex' eases : . P Any. such duplicate Series 19:87 Bond shall' Geri,- stitute.;an:original contractual obligation. on the part'. of the - Issuer whether;;or riot,;the"destroyed; r lost .Series 1987 Bond , be at ".:any ;- tithe stolen or-1 st found, by anyone, and such,duplicate Series,1987 Bond:shall1be entitled to equal and 1proportonate benefits': acid rl.ghts as to `lien': on,. and :source of ` payrnent of and Security ­for payment from, 'the ,fund pledged to , ,: the `,payment 'of the `Series 1987 Bond so mutilated, destroyed; or ;stolen or lost, ,, F The Series; 1987 Bonds shall ,.be subs ect to redemption prior ;: o `their maturity at such times and ` in such`'manner as is set` forth or incorporated by ,reference;:. in he Preliminary Official ` ;Statement _ ,and%or the .Bond Purchase Agreement or as ;shall be -subsequently provided' in the final Official ,Statement and/or the Bond, Pu'chase'::Agreement ap., . ;proved ;by the City Manager pursuant to the authority and gudel';irles ;descr> bed herein;,or as e t a}j lashed b sub;se eat r.esoluti,on or: ordinance o:f y., ,: the Issuer ;adopted on or before 'the time';of deliv- ery, -of the 'Series 19;87 Bonds :' ` Notice of ,redemption shaii b:e � given : by deposa:t 'in the U S mails of:a , copy of;a_redemption,noticP, postage prepaid, at least thirty:. (30) ` hd riot more than sixty ; ( 'O.) da`ys' H before the redempti'o�i date to al 'reg stered owner-s ;of the .Series 1987 8oncls; or ptor�s of .t1ae Series �,',� 1987 B61i4' to e'redeemed at their .addresses a_s ,they a �ea�r on_. the, reviStratIQ;'i: 61 o: to be man- ta ned ° in .a Qi� ' z �e' iwiih tie pro, $ onS harePf' { Fal Vre ` o mail ''any.-sudh notice .to a . egg '�e;r d oW n@'; s�f :a' Sea se I _8 'Bs�n�< or: ,���' defect tkrein, } sh4 l not fs. - 40 v lid ty ,a proceed nc�s fog x-s mkt °'gin of Any ' - 0 �s._ �,88?. Bans p.c�rt n thOrP,Qf ` w3 t r pot t� : C no: `o sf t F, CI �.�,­ yp QM l t +tdt -- - ., - 1 7 4;- - _ '�' - - - - R{ ..: _ _, - - - - - f t' _ . i a� . . ! , �i `I :, 1 .1 �.t, ,7�,L,�', ,��t _�.o l �, �--_,, -� : �t :�11 "" — , ­ I , , * , , , �, ." , , - � , ., , :�� , � , l - - � ___­_­ , �,�.1,�i-�*�:"-,�;,�i�.�.�-*,,�L�'..��,�, .�. ,��,�,:�., -1 ,- - .: - , I - � , � - , � . � . , , � - 1, � � , : z �1, , � " �,T .� �,� ,� , Z_ _.. . � � , -, , �, � , , , " .., , .�,� . :I, �:, I �;� , . 1. .! l'' , �. , , , � , l - �­, , , � i. I ­l, ­ I�Z�� �l.` � �,.­,i, i �,:� -1 , ,�� - , � ­ ', �, , �, , " , '' � '��:� : ,, � � � �:,-,� , , � ,� . , � , �� �:,-1 � . �j , �,�1�::_!,. - ­­1 I, l� :!`�, 1, .- � � w, �-, � 4 OZ% � �� — 7i ,, �- � ` . --�:�,l `��. � 7, ��:� � i" 1 _. - , ,:�� ", ' ." I � I , � , . I I . � I � � , . , .� . , � ,j , , " , , . : , I ­ � ,� ; ". ­ � l . ;� �, -, ,., � . , I . � 1 : � � - � I - F 1 �,��:­ : , I ; , . � . - - I i. ��� �,�_��_,!!. �-�,.:���,'�;.�` - -#09 - -. .. - � � � � � �� y , 1iI -. - tttoh, niee..,shali set fotth the date ;ides .. �.,�� �.1-1A,­�,,�":,�� edetptio i, .the irate ; of . interest boft�e by eadi e e 8 o id eiric i`edeemed, t ye date of piab .; atioil, air o a Ylti,tJc4 fit i'ede1'ptii5ti,. t)e fume tioYi nel, end add'`es 6 the ,gz nd e�%stray, the ,. e to, e p .d I i leis khan aii o the p ,and11 eiee i$ Sonds then ottstnciii 'sham be c.ai ed end eta r5 .;dtptacn, .-tie date niettbra ter 'y ho U'Uht} , iluftibe s, i any, o stx Yi „; 5eiesi sonde to he'edeied arid, .in the deee o :5e i;es �`� $onrls t6` be tedeerned its pai=t _ohl . t%e,'_ c i~t on df the I. c pal .a�tiottrit there a to b .t-� edeecned'f am Ser.i:es 19$7 Sdxid to be cf , edeetri�d �ri part only, the notice Yedeptio t)hlcYi , tc euleries8` $oriel sail ; a1eo � , ,elates Mate thaten t5 after the YedettiptioYi date, ::, txp�h 5er�es strrride ti= such ;seri„'es�g�l.°Bond,: a. new 1�8 L Bonds . I a ' _]. 19 3'�: oriel off' Se°ties ; .ptih, ameunt :'equal to tie unredeemed potioh off' sttoh ,, `se ri es ' 15 ', fond �t 11` be .' � stied . Any° notice mailed as provided ri this sec-, been. dui shall be`coclt�siveLy presumed to-'- have g �ti h, Whether off' not the. owner of s:IT series 198'7 �IM� " boner receitt.es :such .notic ,. Yn.,addition to the marling o the notice and described abaVe, each notice of redemption payment o '; the, redemption ;: price shall meet tie ,'- li and (ii') regtza rements' set. forth .' in ( i) ,:: („ ) r that, notwithstanding ay - ' below, provided howeVer,' other provision o,f this,Ordinance'to the coritrar;y., failure „ of such notYce or,. payment ;to comply With .' ` , : th{e`, terms of; this 'paragraph: shall not: in ,any' manner , ' defeat' the:. effectiveness o:f a,call,'for redemption otherwise prescrsbed � if',notice thereof is'given as above in :-thi's Section 6F'1 - f,< 1�- ' i Each notice of redemption shall ( ) ',,I�_ , ... be'sent at least thirty five: ;(,35) days ;, before' the redemption date by registered n t g elivery or; certified,mail or o,yerni ht °; d -', -' servi'c'e or. telecopy to all registered s'ecurities:depositories:then in ahe::busi- `{ Hess."of holding substantial amaurits"of -. obligations of;,types comprising, the , 1987 Bonds (such depositories now being The :_'0'. Depository.Trust,Company, New York,: New ij lII�-�!1 ' York, ,,: I�Ildwest-: Securities.Trust Company, Pacific Securit i s , ,_- , Chicago, Illinois,, ,e Depository. ,Trust Company, San Francesco, Y Ca`lifornia and Philadelphia Depository -.I�I"::L'_­', ��­" Trust Company, Ehila,d , P _,;a, 1e4nsyl' - van1 )-and'to-one or more national 'nfor ,;' ,I matiox> serV1 es that'disseminate xtot - es , off. redemption .of obligaton_s such as the r Bonds;: ,�-iL., �., , (i ) each nQtiGe o.f redem to 0n; shall . je ub� ih� ppe t ate The BQx1CL l.Pr, �, i ,, �leW Q k,, NSW XQ k Ax, su puk�larqa- taQn : mp acts �a Q n a.. 1 1. tQ � ,, s ,': AsubSta t �-: Tp4m)5ex' Qf ;tl�o ._,,, 'i a Qf Ito , 'en s�am� ; q � qr�-.,�qi ..1Yq�1 'e^R '�. WCc q� pa* n n Y�p�#e. � GWA, ''pM 1�yM.. _(.- ,-. 4t+k Matq�r 1C,!.et �%ciC Yn�,}-���aq'R ipp { � ", {, * }t._�q�� �;:r_ /!��*M yr, fi1t�e+, {Y�L�O'�tr QtlrY !' _:. 7(P� 'T.;""^ ... ,. h++d�'t'.�+klr'M-:.'t ke 3r'Xs c Q Via=e, i..9 T Ppndsf 5 �h p4k� I. s � e. m i - ',, 3 ,. .. - i --•:, i,. _ � } t { r,�,- iX.V - -c _ i," 't "i < i.is ., ..� C --..._ , . S I': 777 , f 4 -,, - - - - - s. - 'i� ,. _ .. , ., . ... ;. .. _, , :, �y ��..yy ' � �y y7� ,a i,. y. the at G t',, thli rty �'_ - ayd . yil L�i- t4hG I I .. . ., 1.fp .a�'(36) - 'd-a 4e�<;fi�ed .�o �� 1�dGlil�t��11,1. ,,, ._ - . ,_ _ �. -�, _ _ -:.'�i l i i �: upon the pay teAt b£ the I:Odd' — ' icon, price of Series 1987 S hdg� be h receeedj:._ esen ched oi' ogleriaiser :off uhds issued ;Ebr each-:ptz 6S6 'shall bear the 0 2 riuMber ident. , Yl' < , by I'SStie end tit- t tY.-,' the �erie0 1.,�7 .8at'ids bei��g .< rede'et et with th - p,rc ceec S b£ SUc- - d ieCi o'Y i7tler traieer'' 'the ,-8ond'„ Regastrar , 'shal,l not be. tdquired tb trans e ` or e Ghari;ce ahy 8 ries. 1,987 fond after .the t�bli4atfZJf1 aYlt� maiiir�j of a tlotice of redetdptI ; ribr dllriri the perk bd of i Mean 5:) days next precee ing _, publication; end f ei 1nc� of a Ylbtict . of : ,, ` redetnptien. .i. . Notice ha Ling been,, gIVen in the- manner l. afid under -the- conditions heYeihabovte 16r.Vided, the , Series 1i Bonds: or por `ions. of sere es 19g7 $dnde .;' - so cad led :for< redemption shall, on the i'edemptibn date deeignated "in;`'such"riotice,`become and be due - - and pa fable at the redemption ;:price , ,.p�6iit3ed _ for recietnpt , ,forsuch Series l g87 fonds "'or portions o Series;,1987 Bonds on such "date. ,. bn ` the_!t3ate so designated for sedeript`ion, moneys for payment of red:emptibn price:e ng: held in ,separate accounts by the Paying Agent i 1 trust ,for the r'egisI er ,' d owners of the Series,. 19.87 Bonds or. portions thereof to be:; redeemed, a1'1 as. provided in this Ordinance; In . terest on;`,the:_,Series 1987 Bonds :or portions' ­of ,' Series 1987 Bonds so called',for,'redemption s ha11.; cease ` to°'accrue, such- Series 1987 Bonds ' and por' ' tions,..OfSeries'. 1987 Bonds shall cease to be; en , ., titled to;:any`' lien°, -benefit or security under this" Ordinance; and the,,registered owners o'f such Series' ' - 1987'Bonds or'portions of~Series 1987 Bonds shall: have no P P right in;res ect thereof exce t to.receave payment of the redemption price thereof and, to the: extent provided': in the next subparagraph,: to' receive ,Series 1987 Bonds 'for ;_any unredeemed por tions of he`; Series' 1987 ':Bonds. H In case part but not all of ,an outstand` ng ;fully. registered ,: Series 1987: Bond shall; be selected :: for redetn tion, the re istered owners; P. g thereof shall present and surrender -;such Series 1987 ".Bond to the Issuer; or'its designated Paying' Agent for payment of .,the principal. amount thereof so 'galled' for:': redemption, and:,ahe -,Issuer shad Z':' exe-.. },-' cute, and''` deliver:to.or,upon tie order o£'such: reg° , istered.owner, without charge therefor; for the un` redeemed.Aalanceof the 'pry cspal amount ', of the: ; Series 8T. Bonds: so surrendered, a Series 1987: , - . ond1 p .S. ev es' 1987 5;onds' fu11y registered c?s to: pr3nci,a1r and _est. I " Series 1 8i Bond'S QL port Qn- Q£ Sera es 19�7'"fonds tk a k aue been ;duly eal`led for, r - I'MP- ` ton,., under' the p ou s 44hereof,; and; with -,spec , o w1 Je „amounts $a Ef cie t o the pay nc e QT, premlu, m, `. f , re5l ttie s�ate �l 9d .-And�,.,��t. ;fc?es.mpt'dnh, ;k6e deluec `:tod :: hd ar a oouW , . e cr9w' egert, e I�.e �2 s t ry I t r t ro t tie:twne .teo$ Pd I i r .+'" I .: ,- I -04 i CJ x p i Atl6h a ai d 3ritef,t ifth 6� s 6196f t; 'Ad�tu d ;.: nt '�st, i arid, sf l I be ept� itec .`'i3fti 1 tb `,g�3it, �ht3 Thal i PaY in tie the Iti ;' P3ett�st cif t tie 6 iie, tintbti' $7: $tsn is fit; thek5��tltYt�s.`.$i��, it i3i�*sstent". amdtt wih, tb t br► iereori : i s e l'; tt�;,t ie` iY�tg '. r3 ; rich the st. Ah'- ' re em tYbn t it�tt , i t5i the, Re£u i ond� clue iri cta d ce i ztY�;; C1t�� a tci. attap ed tb the:,,,Ed`t5t �eibs�it c etn�i t; shad b6 ttarisfer eri tt� tie`SCrt5' cw if"V Ile re e d. h any} Pa., q yf p { r i' _:m "1' 4 i -. _ _ i,' . .. __ -, - -, - .. . -, :. - _ }� Jy y EC' 6N II Ap rc��A1 cf' "ot�l bf $trb t'-i', I, ;All hi r ,e is i cif , b Y1t foYi .' C� ,.. �`C� ... , A f Air �`L eee f`6tft"i .ref 'the �bbt6� 't)epb�i �cj�'e`eifttht ,atteched hekdtc5' fts ExYlif� t ti 'i. i e %let I I )3rc3 'eG , St1I� �` suc)1 haYi( ea, t I ' .ec ". s-6rt1.I6hs ::;`arid oMiiss cane ,eiLd, �i- 1 ,h .'b , ' 'b1 hi s; .t196td-ih Ag � i`y' '` be ,apprsved aYld:l►ade Sri:' stihoLt ': bfserbWetsit I.. ��t' , , b Ag�eerie y die 6f itdraa _b6t th'e Sauer `e.teo�itih th; s�ttte, j. ih ' d ''s�Ahh ' •'GCS u ute It Wi'th,':.-, the ., p�t5Vi �,i-t"3�15" '1 O'f this ...,' t5rdinahce, such etectitlon tc be cotclusvo e4Videhce of'ttch approval. 'the:ty �tseger is ..ieraby authzri ocl And iir6bte;d t ppw ht Ah gidr�W :Ace t tb aet: under the term " 2s ePt�e, t A ree t nt, prier t6: the isatianee„ of the e� .the `� of de., t the i� ybr ar t Ma iac er en the Series y Clerk ire hereby. authori�et: to e'xeoiite the`'ecrt�W Z�o:sit 3 Ag eem rit .; t5ri': behalf bf .'':the. Issuer With: the s rt�t '. g�nt� :c pdn apbiitmerit bf the .,Escriw Agent by . the:: ,City Nlahacler, tl e a br y` Mana ydr hereby.authoried and ciirebted to n6t SbrbNt erit os i the E g its ap pbil ent as,such° prior ` - to' the', issu n. bf the Se es 19$`7 :voi ds. Iri no.' v siiali the City Manage appoint aril bank ss:-Scow Agent �f st�bh - bank shall' have prei�itzsly' reused to fund prof ec is in the ;. ; . OvertgWri�+'ark.Weet area of the City , ,... , .. -': SrlC'IION 14. Author`i�ation cif Appoir tmerit of'' PaY rig ._ Agent and onc.':Zegistrar, " The City Manager is'_hereby ;: ' authorized and': directed to. appioint an. initial P'ayincq Agent E and initaai Bond RegistraL (Which can ­be` the same .;entity) for the Series 1987 Bonds prior to'.,theissuance, of the Series '19$`7 Bonds The Mayor or the. City Ntanager and the Clerk are ,hereby authorized to ;,execute -an agreement.or Ir agreemen, t lo' r and :'on ,behalf of .,the ' I suer with the ' , Paying and- Bond Re istrar.a ointed.by the City Manager g pp " hereunder i`thennection.;,.with suc n co h services, , In no;" event , shall -;the :.City Manager appoYnt'any'bank as Paying Agent,or Bond Regi stray i f ,: such ,`:bank:''sha1-1 have p,revioushy refused•;: to t fund ro ects iri the Overtown/Pa p rk West area of -the City t, SECTIO N 15: Official Statement. The Issuer:hereby i approves the form and content of the Preliminary Official S. .. tatement 'attached ` hereto '''as Exhibit "C " The ;'use.. of such :' ;: ent i Preliminary` Official Sfatem =' n c, nec.tion ':witl .the mark r . ., eting .,of the Series 1987;B6nds is,,hereby authorized. The Mayor is hereby authoriz"ed to approve and execute', on behalf � of : the, Issuer,:, an 'Official :,Statement relating to the_ Series l ' t g -y .. 1987 Bonds with'. such chap es, from the Prel'imiriar Off�c;ial 1. ..- Statement, Within : the, authoxi'zations con ,and..l,imitatior�s taped herein, as .the Mayor .and' -the .City Manager, i.n,� th"eir ., - - . di ma a ro sole scretion, y,,, pp 've, : such . executi'on to: be conclu : :,,., E sive evidence of such approval � ,:ii.�,- ,, S4CTION 16. Election to Call Refunded Bonds, ', Publscation:of Notice oft Refunding The Issuer hereby elects to ca l and redeem tie;Re unded;Bonds ari accordance t,_� , w th ;.tl e calf schedule to ­be', set` forth z n the Escrow':'Deposs t ,Kgreement `as approved', by the ;Mayor or <t e _Ca ty l aria ., or I ' e then ''p� them or As e�stabl � shed' by 'subseguient ,resQl ut *. Qr : a' ' Q 4 a sae of tho l 6! , 4i pted °'on or .be€o e :,the a ►e:;; Q !I- t ds 1ve ' + 9 tk, P- 8eries ` 9$- ,. onds Wi n n .Q days after :tie' del ,vory Qf t1 e aerieS I 87 . BQnsls, the Iesue'r wj:1l, and ere aorzes. `d drags tie .crow _Aet to, cage ;;try eDUD l shed one tme7 ' n a ;}ews�garulee�l .,end o£1�gn pp:` ' x� s,�`. �r 4�,G�Op.ays .:�ade �rQV� IL ♦--. n}d� `-'Md-,y��j.�iCw}+�t{g. . y�+�,�b'}Q�+}��, a'f;�+- Q £ �IDt iY! £ ', X �rr� k �eln tt �s�4�s duo er �i� Re' � ,, 4'{ #tb, �t F � I' �r�t ;rd't sew .'� a nit€.adngh ,,-j"., �Itt fade Qe apde,a.1 `eche.de :wtkee�t; t.eee It�� .,, ., ... .. - ... . : .. .. : is ., :1: - ., i 11, �­_:.: ���I,Z!., "!L'�Il-I : 1"- ,­3�- -{ �*_",, * �.1,� - , � '�-�; ; 1��lt,,­ - ,�, ,�LAt,,"�',���l""I;", , , ,- :�l,""­�.L" ��,: o"�-i'"],��,_�'f�,�:: ��- ,,,r 2 -qI - - F FR 4 _� _ _.tz -:i_',,'_�'-'*',;!* 'L�,-__3:j';�..�,_�:'.,'. t,�� �f�I,,'­", '�.� �'li'­,l"��,",.""t�' �_l.7",,..��l, �,,,� ,. ��F i': " �,",�-,-, �,- �-1,�i: :�.,,i,�-:� �,, .i�. ,- -,L-.-"iI-..,, � S, t,' - - .I: .tom - 'e z::���'ast,.,sSak. l-1Y)4r,,�i& �f'";rar,� e s fs' � q•, __----- f! ., - !(i I,. 4 - - - '- :I: - i,-„i, r - ,. ., . ., .. - - - ` stSt o �t i ifs tlie ecrc5 ire osxt Agi"ee tefit t , to rdw e t i hey attheie�. at directed,' in the, name . cs the ,, suer, 'to cduse hot, - 6 of stad-h cad i ta be'4iew� as .�°edil3fec "' !' , by taW and by ;the ':t tms o thy' :Refunded nds r 1 ` a C�" bN l� , iut ,wtitat��sals, A, 'the,;.air e3�d '.the,�ty fifiariacerµ cat either t E theta and the :'clerk. of 'thessuet are hereby authori,ed, sub' ct tc3 the: ter�ls here I �i tip gh tha cYic1 ' , 'U `c lase _ Ag ree meat at the hates provided there r and the .Mayor car , rty Mariner ,is her�b.y-_ auti�oriiee and directed to ihitiai or' othetwiee, a rt6V such chani es to the Lod tirchase tie e I Aejtee�ient`.' aS .. he r AY, c eel 'r' i aci�tiseble ,.. Thy s�'.t�nattlre t�f ';. May ' _ c,r City ;Manacler and ';'o the ,1erk,'.on the Bond �urchaso . Aerernent, shall „ 'be conclusive ', evide5nce `of the ai;ceptance ' thetea and :the s of` the Me. r,,' or ;',ity' MaYiager at '`* ,initial eny c?ance shall be cbnctzs1ve eVidence that -such change had C ", been duly authorized;i Th Mayor or city Manager is hereby E authori,t6d and directed to; deliver the 8'ond , Purchase P,greeinent fol owing exectit3. thereof'', in : accordance +pith ; this , brrlinani e to the represonte Ives of the .Original , :PUrc ,a$er', t°' b U, .. - - ;: A B The Mayor and the Clerk are heraby authorised 't : and .directed. on beha of ,the suer 'to execute' , the Series bonds) 1987 Bonds (inc lulling ." airy temporary .or` as k°' r office provided herein such rs is hereby and 'either. of authorized and ,directed upon the execution :of the Series 'I9$7.Bonds in. the' form and ,manner set forth herein to ' A `, deliv.,er the; --Series 1987 Bonds iri the amounts authorized to .. be issued hereunder tq orthe order of ;.the Original `o Purchaser pursuant to .the :Bond` Purchase Agreement, upon ' payment of:the purchase price, and upon compliance by the ! _' Original.>; Purchaser with;; the terms of the ,Bond; Purc. a'L7 c Agreement The ;City Attorney i hereby authorized and directed ' to execute: the S'eries,;198,7 Bonds (incl,uding any r temporary bond'or,bonds) to signify approval of the form and ,: correctness thereof , The,.Ma or and, the'City Manager or either o:: , y ' them:and the clerk are hereb authorized to', execute` and "r deliver the beposit Agreement, with such changes'; Iy ,Escrow sertions'Andom1s'si6ns and the filling of blanks therein as 1 . may . 'be approved and made in such ;;form . of Escrow Deposit „ u Agreement by ;`the officers executing the same, in a manner w � `consi ste'nt with�� `the,'provi lions. o;f thi:s: Ordinance, ;such e e�- e.. - :cation, ,to be_= :conclusive:. evi'd'erice o f ,suchapproval , '; ,.t' D The' Mayor ' and, the City Manager or, esI her of ' E them' and the .Cierk aiid such other officers and; employees o;f the "Issuer as may,be'designat.e by theMayorend the City Mann, gex `or :either of them are each desgna:ted .,as agents o;f the Lssuer in conneCtioi� with' the issuance and delivery, of , f..:", ,' - - : : - the,.,Series 1987 Bands; and:are';autYioz i2ed aid empowered; cQl . 1ecti.vely or individually, t, take a1,1 acts ori, and steps acid to -execute all n truments,. docu,eTkts 'and contracts h behalf of the Issuer, I.ncludsngI but notlimited t4, the ;�recuremex�t of a ,municipal bAnd insurance, PO , IC'y to secure the ., Sergi es 1987c40s., that.. are necessary Zrdesk rabble in cs�nriect� s? ► w :th t. e 'sxscut Qn anc de'j- , cf , k tL series �t%--C�dSe,.:d, W $4.'-4'��'r1�LIAr��d ;'4� t@ 3��? consistent: wil #fie.k'rm€ 'andx ei,s ox�s: 'of. the e : Qrdi naps off` .any ct � 1e ng tQ t + ertte 1467 B'onas e 'e talon by t e ,s14er car the govern ng Badyt S G Q i e :s , ,: . , ! .. . A - .__ - — -- - -_ 1 F, a . ,. .. :, „s ;.,: ... F ;'" - . .:. 1 . j I � : � .� - . . � , � � , ::. �� . . , � l i S C�' t� Se e bi it : It any ohe, dr `ti�ore df the oo eft htsi `a ree eats et Sr i i�s� ons of thi (S c�a is i e s-isii be he�:d. iontviAty to''ai9I e���'ess ���ttisid,A,s c5, ia� dr 10litYary t6 the pc�i c� of e�Pte:ts 1aW, th6d4 h6t expret�iy pt6)6 l i o ': a aihs pttbZic pol. Y,- er sha I , ariy s11 'dy' reasciii Whatsoet�ti' be held'' �na�ldy' thencovenants; 1.uh.. acr�`eet�ehts` o 'po�iaoiis shall be hu` 1 acid void and shah. be dee ted sepa, ate, ft6m the z°61 C h3't"1c ot3et7ahtS �'at�Ye�i�lentg :' oY pig �t�.s�.mie :-6f this OrdiYiafjoe of ,:.of I.`t�Ye 8ei`ie� ; tlMll 8 rit s `ism ' sued hereunae.t:,> 2 l ON �' N , Third Party 8enefic3arie9y kept as herein otherwise'; expressly protrided:; nnthi.ng i`1i this -` ,. ordinancce expressed ar �mpi� ed is inteided or siail 'be cones st�`ued 'to cohfr Lion aiy porson, firm or corporation other j thin the parties ' hereto ,and ;'the owners a�it3 ho.Iter,e` of the Series Y9$" Bonds issued `under .:'and sectired by this Ordnance, :: any right, ''zemedy or claim, legal or, equitab'ie, tinder. or by r;asoil o 'this Ordinance : or'= any potr� son `_ E he,ree £, : phis ordinance' snd a'11 .'i:ts p otti s�oris` be'ing ntenclecl to.,be and being.' for the, sole and,, exclusive ,''belie fit of the parties` heeto.and''the owners and holders from time ,to time of 'the `Series 1987 8ond'e issued'heretander SECTION 22,E Controlling' Law;'Member of Governing Body of Issuer Not .'Liable All covenants; stipulations, obligations' and agreements of,:the Issuer contained: in, this Ordinance' shall., be deemed to be .;`coVena'nts stipulatioris, obligations; and agreein hts _,of the .Issues to the' full`:ext.ent authorized by the Act aril provided by the Constitution and . law's of . the State of Florida. N'o covenant, s`tipu'lati'on, ob ;or agreement contained ,herein ..:shall be.: deemed to - 7' .tion be _ a 'covenant- stipulation, obligation 'or agreement ;of any pre:sent,or..future member; agent or employee, of the'Governing•". Body or the Issuer �n his ,indiVidual ;c'apacity, 'and, neither' '' the members"of .the Governing Body no:r any official,e iitu ing the,; Series 1987' Bonds. shall be 'liable personally,on the Series `1987 Bonds orthis Ordinance 'r shall be . 'subJ;ect ; to any personal liability' or acc,ountabil'ty by reason.,of the issuance or':the execution by the;`.Governlrig Body or such mem .... bees.thereof .: ., — ,- , . SECTION 23: V:alidation: ;The City Attorney."zs hereby ,authorized, in ,her discretYon', to,institute appropri Circui - - ate= proceedings in the " t Court of; the Eleventh Judicial Circuit for the v,.alidation of the Series 1987 Bonds, and the appropriate officers of the Issuer,arel;hereby authorized to verify` pn,: behalf of the Issuer any pleadsngs in such `proceeding S. '. i SECTION 24;' Effective Date This Ordinance shall be effective Immediately,upon its adoption' _. . !;�): . ,, ... t,. ' .. '. -. . .. - - - Y'. .Ii'. - - , t , , , : I ": I I I I �, , : , � � F . � � : ; , i � � i , : : � � 7 , �, � � I , � 1 � . ! � . � , t � , I " : � � 4 , ..", " � I � � � I-P - ' l- - - - _ ' ,r _.. , r„' , — , - `` I'' `�W ��%iJ .. I7-V-ViL4Y't�Qt luk �yiy�i9�7p yy''. yip. g��7g y`..�: :t�lll�Lll �.l4�7�i L¢�q'�yQy ��y-�i sy,�,�.7 I I w.+x..... 1-i rl if L U) J - iVi '� , gyp, {��py y('pt .yy :7 '' N Yi ­11,ur o� '° , ifi the �: ft" on et Sella �uneel ar�d and ours el0 ,ttdat d ,ire g 'u� , :ill 1.�o - roiialldt?:,'tj bil dirt it't 9ohedu:i, ier ltietttjr a etted tC3 cln Coh ;, `...� .,,. - i`tib ttd.:' Upon CbMPliandt : Vita l'dttAItt. tb.itt,age re%at� Ahd oth1.er — ti tad ':.tebquit ffi tts ;tefet1.ted to herein .unz > etc tit�g iaWs r i tt ' �° �lt" °•1 d . %§' :dn the Sot�:es 1.08 86h, s Yg ; OxId tt6m §fbgt ;�n�°btt1C tdr .•- _ d income tart piir ie5 � a`rit till not } 'e tt: eted ao. are'. item .of �, ,' ta)t bra ersncl , m uting the ,altEl.rnAt3v+e mini to i t k SOY indite ,: vId ais. and corp6rations, intote­11st can the SerlL �§51;�. Sends It *°' •ft - a .� .� tl4 ,, u wi11 howeVbt o be taken :' n- to aectit�nt - �n 'ly6mp iting an ad�ust�ient ': . -teritining 'td�t� a- made1 in ta ,ro p�rati n's lte n tIvo mirri�t�i, =;i" i �, �. hold'er ,off thr3 ;S`eries 19$7 ;Mbnds could tie stib�oit to:, the 'coneo� it U 6u -,.. C i ue beg of other o, , sicsnS of the tntei�nal ReVelft0e of 1.I . � - '., `. o O o�Li 1.,ode s'-ametndi1, , as turthet 'desoribed herein. ln::the opinion of fond Aib c Counsel and Cc� BOnd noun°sel� ,'under e�tistinz� law, :the Series "19.87 ,:t'� ; ,E N �. on8s aYe also a tefipt trdm present intangible peYsonal pr:opert r ;. ;,i° E� y taxes irripsed 6' ,the $fate ' ofill �1orida, See ''.1'a c BXorwo ion; a t ,.N " z­l, 1� ,11 i�noone 1'affot's rierein. ` ;:: n: L O�1 M', L :, i,ie O,� ,_ ,O �­ I 1, ,. � �. �, � . � I., � 1. 7� .,�4 -,.; 1, ; .��, ,.. �, _� �., 3 40�bOb�000* "d t '� z � °� „ ro oil` is t - i The City of:. Miami, ' Florida' .}r A,„a „. General�,Obligation Refunding Bondsi ,.Series 1987 ` o�:o : J. Dated] , 19871�1-1111-1i Due April 1, as shown below' <�Ua ' Interest on'the,Series 1987 Bonds i payable semi annual y , a; '° on April l and October 1 `in each; year,: commencing 1, 198: } o a sro The `" 5eries 1987 ,Bond" ar _ s e issuable as fully .registered bonds in i '_: -: �, -. '� j " the `denomination '`of . $5, 000 or. integral multi lee tfiere"of Inter _= w ., .�.� r� d est on the Series 1987 Bonds, will be payable to ,the 'registered >_ ��o ys' 10-'r ." 10 � N ''owners shown', on; the:"registration books :of The City`of Miami,, } y E o c Florida (the, �rClty��) ::held by , as :Regis o� o., Y., g 9 Y pr , g f,E�, w trar. and Pa in A ent. on the fifteenth da of :the month reced1n 10 ° ° an interest; payment date,; by check or r:draft mailed<.;by fixst class }o,_ € } : •, ::i mail;: to such registered owners;. by the,'; Registrar and Paying o.o :,Agent The principal of,+: and premium; if .any,„ on the Series 19'87 "} c} s} b o �' Bonds are, payable upon ,presentation and urrender. of ;the ISeri`es +Y'` z: ' " 1987:Bonds at the principal corporate tr',ust office of th"e Bond ',- ; d.2 Regis'tra'r aril Paying ,Agent. , - m w:L =o r t The Series 1987 Bonds are sub�eet to ogt�onal,redempton and' u ;* ."o Z: ,' scheduled mandatory redemption as�,=provided heze�n. ; "" ,I` E O ..I'N t N , " .'_Ir " - :, -�t:8 y_* Preliminary, sub3eck to' change. �_' 1-iI , f,":; ­,,. O.�; l- L. O ..-,z -'"�, r --", 1 �rI� �� 1�r,-, l:�,. ,' �,.I 1,L ',_ .v,', "�:,I �Ir �c 1 ' .. ., ,'+-- ��-, —�I �ILIr, , " -_ ... .. .. ., .. .. a - ;:.� -,�,-,,�*-.:: �.�":,�, ��f �'; �: � t � : � � , : L i ��; � : : � : 1 � , I , � � � � :- � . I : 0�7-1::!-�:-��.,�- - -, ,. ." � m , I : ": .. - - , - .. '. ,,; 'p� �e y y� Ip� p y �iggyy ��yy �y�y C'�. %�' }!.. . , . - �4g} ggy y� p. �p t ''L1 L 111 ll',j :'1J l,W L� ,IC 4;J C. 11 i .,., WGII 61C toy, {� {� _ is a. , _' - �t - , G �' n •. - p.�:yO� yy� �+�� yy`�y V L 1- da j� - , ' U , U, C ,G t P1dl�r, i a f1 ' j I, 4 "i :j - %D,q' i ',- ll�d t !�� ;�t� � b ' i�if. tit t3 �6ft . ,% `� t�kW �l��u't =� .Ll j y : �i 60 t �r tN� t �� MINI �►� � ��t� � ��� y j� '_ § IN I1t7V[V J.)L'ICVllaY - 1: -: - q- 11 dl , It.''il.Wtt�''.'��t Malt 197 ,. 7 , � � � ' �: z i � 4 I. � � � . - I, � : � , I , - - . + , - - . � � �,� - �- , — � ..,. , ,. ... . : - , - - - - : - , � �T - , � - - 1:� � -� r , '+ ' ' , t , � , -, , � � L I o , � 1� �. - _ : - }t r : � �' * Preliminary# subject to change. :1 �t , _ rr iG j' - _ - I _ ��' .'+ - If i !,,• - - 1 - I il, • _"' _ 4 f.jj, — �. '. - 'I II- - f � - ': I _. I '. '. „ '. }- 1-.� 1 t-,_ }I - 1 ': ._ '.. - ..1 - - f ,i 1 j - r 7 i { a ' 1�02'7 ,. 2 — f'I �:1 T, 1 r- 1 _ _ .. _ p � �� . - - .1i i �.�., I , �. ,� , , � :� 1:��, ,��.,��T' ,� :i il:: It . �l I � _';� i,� i _;� I ,�, I . � , , � , "!i�� . � : � - i �''. _* _�_ � - �;_�-�t ,�' i,�-I�ql �!�-. -�; `�!:��,.,',�,".,,,�,�� �.,� I - ,, I .;-. :., 1. .,r ' - :. .'i . µy}r�me �spi �i y� }y p" {r iW_ - �y �i p.�� �Y .Sr 'pu a.Tz ,y� '({ (may` j � y� ,pd' ,ypQ}� iftr ',yp. Mf:.: 4ll � CL w1 YGi ,- b ��hrrif .'. C,6u`;`r�4 � � �r 'j,', I }�r :'' : Vt G1'r�1 Ti p Ii A ga, , t'', , p� i 'f� h" t1 i'1 � .; A�'r1- 1111 _ 1_ if I OIN t ;,ill:. `t1 i 'i i f i rt� , t,il� ' h I,E-��. ��� ���r����� �,t� t��V: , � �MA14S 6 ' tiIT, Ai ,5: ,� N I r. �J " i, - - - - _ I� . - �It - ,_- - - { p.�iJ► , .i.11; ' , ti tl .. - A ' � �JF2 � I ,� t . - Yr i ,, ,. ;, „.... . ., .. .; ;lzMay :,.: " ,. ... j .. .. . . 19 $'� ,. . .. ,, ,.,.. ,; ii =1 * ." ,. Vi � t to 'change. Preliminar sub �c ;.1 ' _` - " ., , , �,:� 111. .: �: : � � 1 � :�iL":,� - ,"m ,I , I, 11 �3, it L 1 " a,", ' - ', - - ',{ - , , '., , �� , ", �� , �: I :: I � p I , I , , I , . - , � . � '__ I , , :. . 4 . � ��. . , ll� I" i w - , -1.1 . � - . - , 1. . , - - - -1 ,: .� - � . . - L 1, t !• 1 _ ;, -, I ,.. 1. . � I I . :w�*, , , , ! , . ,. ,. , '!.�:", _.� *,��� i" t 1� � � % � i � ; ""�� 7 - t-: - I -,: , ;�":1 _' ::, _-j m "I-', ll _"i , ii,-�_' 7 �:�,� ! � I i ,� , ; .. �� ,,17.:.� ,! i�D2'72 1 1 t m� '; -t- { - { -u ': - t m-17 a � — z,� - i�, � f:`i��,� , t. ", � . , . -, , p , : � I I � ,f ­ [ i,. " �� 7 1 , � , -:1 � � ,� ,�� I- — -, - -"� :!"', ` -�,i, ";"i �::: I , . — r11 - , " � -,� .:. , , , -, i*:, �. -� --" � , � , , - I ''; '���,—— �� —,7," �i:e`—m :I , I ,--- lj� — -- 11 . �i�.� � . '' Fs;' ,IY _ - ,:, -''MMyy . pig {�`�•�g {��{ �(y� .1ymmy�aYp{.j� - -:, .� iilt� C by i-1'1 C11'11L f L -Y , }G. - - - - £-_ t - . .. { , _• ,. - _ - SAt �ptA�iQy� �, - :' , _ j :.,yY.�� jY] y��,yyl �'pI. (�1,�,j j��(( �{y�{' a' ,:' y:,,\y�I�- rryy'yyll��y` (�p`�y�yy y �:: 1\�V[71\1V A, _;-l♦LN Li .. - r 2, ri. yMyM♦�Yt +�yy{��.``y�{�+"��y w{�(♦,W1,i �{yq: - V:, .- .L �'ll'�LL� ,. f jY ', j, ., _. - i , V11YIL 1\iY i `i 11., ..: '. 1 '. ? k'"J M tiagtY Aid y bl��(� 1 `'` �11111_t City At btlft-ay i, , i A A .' b: ,,,, I Y i:t Clerk �'ITY.IBAi *;: :,. ", r #`, .. �� B0 d :courts�l , ,. ,; I rg f. � � i0t,�,ANb & "t{NI�Fi � � Mia i.>'lorice m �� u_ Co Bond Counsel tx. - - J -, t �, _ - INCENT I?. MCGE; P.A. Miami, Florida 1. Is , �: '1 .. .- ' 4, `, 5 - Financial Advisor . -. '' J . IO Y & ' CO. INCORPORATED " JAMES WRE ;: . New York, New York ,. ` I Independent Certified;Public Accountants a' = COOPERS &:LYBRAND ' Miami, Florida 0,, �- �r'{� a,{. ' f i Q, ,- "J " ,, -,. " �, , ;� f -I �I" 555555 `' 3A .::. - : Z.: I: ;�,. ' � ,,.',��"I '-,, ! , J:�L!:" _,�i !l� i�1��: �!-� :-i,� 'f - ';� F 1027:.��7 k t- i- , .- �!, -' ,, _{ - -, f7 { t �S_ J�'i r, 2,.:L,:- ti -. -. t-mj i J E .. -. I. '. 0771-0 II q;I:,._,:I, 7777 � I �, �: _,�!_� , ,� - , 1; �. : .- I _ �_ *�_:-�_�� �i.�, i�,.:..�,-11 .1 _.�� t'J --L­�,,;�,�_ - - .Ivl , !,. � ',:,:-":;! , 1. - ­ .- - - �'. I 1._­,'�,­��­,�,!1?':,�, '' ;I��.�:.::�l.,�l;l�,�.!.�."il��,.!:,]-,-,� _ . '___._:��'. I . _ _�:_, _11_ - -1 7-1- , m; - ,: � , �, � 1: - - - ,, I . i ,� �!!,. '']. !_ � .�, - I , '�_I'.. I , . :4,1,; ;i_, ,1,:� � �;, ,.�I:t:��.t, � .. I I t..��:�':'��­�:",�. `-t�, . 1. ,: .. '. :�;� 1: - . . , � .1, - - . t:, . t � I I � ­ I ­ I" I.- 1.11: I'— - ,�. :, :i�i �, .. ''. ,. _ * ,� � ... � �. ,., �: ;, I;, � , '' 7� 1: � _. I �_ , ,, - 1� , , , , - , , ; � � t.'' �:� . ...,� ,;� � - .­:: �_ C_ - , � - :.-�� .� -�, :t�; �,�, � �: . � ;. , �1� � : 1 �J . ; z .i, , I 11 I " I �� � . , , - ; � i 1 41 , . '� I � � , I i � I '' _­ I.,_., - 1. , __�t. ­­ , ­ � , -, - , -7: ii_­%.��. 'i I I - �,_ ,"", _."�_: :: .. .1 I �_ . . , ... .,-, ,, :: . -• �, t 1 -. " y�y�7yuy'� yy/�y� �`y7. yr`�, /}�yr ramI y�y`yQy yy` - , 1. . ., - rPtiethit lA.l lJl'1i1 - ^+ dry, - - �.' V - ;p - U ,'� y yyk g.�,y7 . , {g yp q{ �'y{ p _ yyy"� , - .. - ,� tef 1 1 ati�t " e i 9 6h86 P ies ;1 , j , ' The p'urp6se 6f" this 'Ofi6iei stat`eftent a -Iht City "Mi'er i and , �1� � i (the�� it ") Which i d�t�d a the ft`Vtt'. pa e ppe -' 4 tt het ; he tor, "i t e b h t� t �ti in h ' hi .the �,� ,.,�' r pity end tS gene a bligation re t�hding'_bettds t6' b+s ,.is ue in ►►Series 1 $1 ; the total i5t ate 1. Noun ►bb ,'bb�,* the t_ e refund cet. r general `t�h ig t6-ft : . c', anc", taiYl ation' bbtlds I ,,:.1 .,.) r �t< c�u tI' i`sgute : iy . I Erie City t g6h9ist ih9 t�f $ . ►`t of 60b l e 'ightii�t r'. 'i e''�tevetItien and " t+esoue 'a ilities ;Bbt�c- , '' ., tlbb �""eiitiesrnds;` ,-__�Ii:"1 t�lie ',eadcuartes and Cfimeevet�ticti $8►b0.n►bib unitary Suet c8y6tern 8'' 'as, $'9►bbb'►b�b Storm' ewer ;,,, itn rb oment aonds, 1 at�d 6, 0 0.` O( $trek"t atiid t ighws r�prd�retnent �. Snndsi ell dated �;pril;l► .1985 ;;(the "�teutcled Sdnd_":) ► and td pay _­, costs 'ot asunoe ::off the 'Sera es 1g5 Bonds. Theeunded fonds :oh of the City ­_ the 1�� v Caere prey ousiy Approved _:by the ' toMm ss "Gomtnissron")> by..'the *qua.lified eecto,rs �f the CYt�r►, 'and,'�ere 'Court � ,-;M raiousl validated .,by judgments 'cif .the Circuit of .bade p : y. ­�,� �.� Counter, F. is a. ,, :.I; ., . "' I PLAN OF' (FUNDING �: The Series 19.87 Bonds_are'';;being issuetvto enable the City to Bonds, Refbnded 1: effect the advance: refunding of the: Refunded ;'such' Bonc]s`: being currently outstanding in` the aggregate principal l t-t- ', amount `of ' $ �-,_ The advance refunding-is,being undertaken for the :purpose of 1 � -i effectuating ,debt :ser.v.ice 'cost savings to ,.the .City, The monie be.,derived.from the required:.to refund the Refunded Bonds: will proceeds the sale of the Series : 1987 Bonds.. Such monies will ,7. ,of: be irrevocably deposited with I. _aS e_scrow 1 -,��,­ agent' fo,r' - the:` Refunded Bonds, ,(:the ."Escrow Agent") pursuant to an Escrow Deposit Agreement dated as of (the ":E_croti Deposit`Agreement"),::byand ,between the .City and the :-i't _l;, Escrow Agent The Escrow,, Deposit;, Agreement requires the Escrow .., ��:.", Agent to .use ;certain ',of the `amounts escrowed •hereunder to' pur: chase; direct o'lig ions.,,of the United States of °Amer:ica .(such 11, � _ r _ _ -- - a - - - - -._1!t�_.�,��:I����"-.�",��� - d } , ; 9 * Pre iminary, subject to cha n e ' I'- :,��, �t_�:- W' fie} 1 1 . . � �, ;. I - i i -., t _.._ .,. -... _ ,.. ,� ,4, ,,5I. ..,} - 41 i t- - i i:.- �. - 1 - - I. - :. .,, �,.- ,I _ - ., .. . - t.;* i it t t5t �i0Ati hs the nit at'at s. it@ iLa t 5 put chased K +. tKe �§c�`C Ageht ,w th such �lotiies :shah be f .rted to - - .. I' '.: d� , 1tS .1�, I' the '�C vef i it Ist', obff4atio ts�' : ►e ern ei�t ,f j 6bl"i at i §"TwII atU]fe :a such ti ter 16h1a in suc% a a fit1.s s� Kat icient iohi s Wi r 9 tih ip y. .1 be e�3ai abie f,6� ,.such, mattifIn t6"6,htr 3`th i`hte st tic a tE�r � eri ont bl atioh , each bar�bg, . i, t� `n�aic teht , o �h ; the ` TI.ihtetet: 6fuhd,6 oKda ;`. ' it bec as ue> ;and to, to eem the Ro u ded ;. b h'i s n A rii i� � ,'' a'', a tL hmp,tion �ri��'.'e.�ua tc .���� of Y the;..pt ;hpipai a 'it of t th rY66t - „litbVi ed► .: :�wc,'vat �:. that Y '. at .'ate . timt6 at�6urtt Kit ". i tYhe Agent 'un11-:t et the s t t be��ibit ` I'llcte� A ,e Ih . ate i is tffihiorit , tci . t�iake:h such PaYtf tht9 i1. acdcrdance Stith the to-ttia o.f the :Eacfow i ept s t Ag eatn nt r the hcidars' ct , I.itwer.of ti1�'tuf�si �t�i�s: shah b entitl t�7; tEive ,�ayilailt t t Ph thle Ci`t" tote the" :tart .teVenue8' appropriates to :the:' a1. Client of '.the S:1��7 'fonds. (8es "Aiitho`,.and:.. Secut�tyr') I. Iet'ies I.ia't�cn she CoVetr�tttent ions W,iii riot be available, -to Pad ttie pr:in�- , IT'�bl.ii - ci pa .f � fes empti.s ti ,premiuti, at i, br interest 6i1 the Series i buy } ] y� }y� j. ` The eYies,`I98°7 86hds shaiY, be ,i'ssu d at a iower':net :;avef6g ' interest ct�st -Pate' than 'the 'net avd'ra e %nter.est cost rate of :the : , Refunded 13bads` and i :, as : a result: of the advance 'refunding of :the„ `' tefunded fonds, TtN City. v�iil reaii'z, ecoinom c b�nefi°ts. - STIM4TED SOURCES, ,AND :USES' OF FtMt)S - �, The foilocai'ng table'. sets forth estimated. sources :_' and; uses of funds for the Series i987 Bonds :_(exclulsive of- accrued interest). % ' ,. Sour.'ces ```= Principal Amount of Series 1987 Bonds. .`...... $ ,:.; :.: E'. , flee 1 G ' Deposit_to Escrow Fund for Purchase - ,.:. } of ;Governcaent 0 11gatioris (1'j ............: $ ;, f p :. [OrigitiaT Issue'D,iscount. .. ) ` Costs of Bond 3ssuance [r - ] ... ...'... `....'. . ' Underwr1:ters � Discount'. ,`...::...:. � .. � � � ' .� , 1, n. `Total .. '. ......0..,' ,,... .. ••.•.-. $ $ 'Ti' 11 (1). See '"'Plan of Refunding ,. : f`A; [(Z): Includes;premaum'on the municipal ,bondI.;insuranc,e policy:), ;F.T, , , * , —, * : � : m TT , : �; �� ,, : ! . : i . -, , - . _ I - � ., � . .. : , , : �, �� � , �i � �; o' ,� �: 7,� , �- 11 . ., '. - - Aw. + g - 1 . ' A i fi 5 ,.i, the eties87hs a'te bei issuers in the atetJat ' ` p iPi i a1 armufi -6f �4�10�lf�,ri�(i�� a�,� �at�� r..���'�i.,anr� ate isuablat1iy .teitete bins . Ott the ehf atioYtI6 of iit.egrautipes .thee' , oh ;,:the et.ssbttcts . ,'.lhtetes't + iii 'be a stile tc the.' t60 tttei OWhbt t o h ch :;the to i trali ?tl bh b6ok ;the eit by ': .hb1d. r T' , a§eiattat and pad ng agent fa% tie Series 1987 f PtSrids ; (the "leiattat,'+ andaytg Agent") .1btt tl�eifteettEi c]ay (Wt tit 6f a h6� i �a . bu- i-riea. , ds ) of the mc�tith ' text �r6, C6 iihig ah ii�tetest Payne t. date tt " tecotd byte.'',) r by �h:eck .fit t� 6 t '' ,: it 1"lI : by fitat 1 ss: mai'3 to stfCh tegi.ster 'd c ne e by the t6gi trar ttd, p y t c g nt'i ittespecti to .' of ;any' ttang p' 'i of eehange ahytles:1961 8otidubse uent tb,'such 12ecotd;'bata d 1 arid prior to such nteY.e t p ant mate', unless 'the��.Cxty, deEau�.ts. `, �. - - ft the payment ;off ntetest c ue� tin such intetest :payment.; rates 1ri, ttie event ;off a�iy .surrh `c3eat�lt► euh c�efaii� tech ,:interestti'11 b: payabi`e. ,to the person in 'hose game . 'such Series_ i9$7 fond is t.ec�isteted, at the close ot:-bus'iness;` on a special ire:cord ._date; for the -payment. of such deatilted interest established by not1rre mailed; by .the'.City. to the ` registered , owners .of the Seri es 1987 �ottcis :not -less than 15 days preceding =°such special `record date., such :: not-�`ce ,shall- be ;mailed to ,the .person in whose name'; the Series. 198.'Z Bonds 'are `regstete,d at: the;, close of busihess on tYie firth day ;(whethet, br :not, .a busine y) p g da tececiirl the. date of marlin of such notice. The ri'ncss g p Ypa1`of,°andpremium, if any, on` the: Series 1987.'; Bonds are payable upon presentation -Nand :sur render of ;the Series 1387J Bonds at' the °:principal corporate trust office of the Registtat.and;Paying-Agent. u Interest Payment Dates - ,: ,- ,- _ - .. �{ The Series 19.87 Bonds.:beAr interest,at the rates per annum' set forth on the cover' .page of', this Official Stat.ement,, payable: semi annually on April'' 1 and :October 1 of each year,-; commenc -'': in;g ; + and mature. on, -April 1 in ,,the years and , ptincipal amounts set forth on; the cover page of ,this 'Official' S.tat,ement . - r - '. t , - - �; :!l� ;,i ._ � - 1 1 li,1 � : 4 .:'I "', : ��. . 1 �' '. -, , � I I�,1 ,� ,� �I� ;.�: �I ,�,;- ,��- �'t i11 ' �',�7�l;: 1_ 1' ","4i.I,,,It ; : :"-,r. .� - r����;-,-T -! _i�,rI :'_ "*� - �� t�:,.I�, - � * Preliminary, subject;to,change � ,: � -­�1M �,.� �,, ,"� "�:, _,';-,1� 1 I - ;', `,FI��- .I� ,, :; �, '..:�'I_ Il.I, ., . - . ", � 4,�,�:,' 1, ,.,� .. �- � � , .� 3 I F ,: �,, i:, z�,�-­. ''..., ,-,; :� l. �-!;l.­ ,,� �,;� �t_­�I : 'l ., "_,1t, - � , ,A, , 4) I 1, i „ !1it ,, IY :{ , . . ,., ._ _ , . rit .I - - ._ - - : C �,' end t�1e vetn rent in I .� �,icet6, As c�+ ratibtl . toteiitet `Mates tad Canada ii,� ty�b�rt fs'` the.t+ AttI.tybr tf1 it r Mi' t i :: '1 #`t e� artd the eft e i.ty l ttd e +,; r ttie �r'. , I.e degree I : ' rl : :}— M3;al i h r oriole � ,'the c ,hey � ,.. _' . ' .,tse � Tyve�ygy� eygL t r6} i�t ;i t5 r tfY t` issty bye ,�iyY.11 ythe� f � �s ym pyl y1� ��i{y :s ,grs J��► is`�Mi�� y�i ith ', 'i 1J/'e Gt_`ee L1Vlttikh VlllQ City ..lJ nl Y/,e1.71;1.t .a.nd p,,,,Li1J '�,Cli �eree 111, the a' d can ;and d , tal i.aw froth t , ii fiver ,ity. b� Miati i ;"is bal. b the : pi6r i . a ar�d t�k"1`ahb i4. . a, , had ee, cted' as a ;. tt%tet 'and ��d�u .t p ofessb_ ' _l ,'at ry a U i�t 'sit, an,r:47 hae confeteltce a sei�irles i d­lte d as': a ictie't '::attutrierb.us _, fiat y. �#i a� Maas appointed City tletk can S6pt6m er . r ,,���a',: Clerkoteptetitbe i�'`6 tb fie wa; the pity a,ssiat`nt City A gush S. 'the fie : a fir- dudte of, tdisoh 4i,gn ��hbb1'` anc�. has opieted �cblieeuYs,ea a't pasadeia �i`tyb1 e,ge, t�ttiv.ersitiy b bliege i New yo'rk , the Calif rt�� .: at' tlbs . Atsg les' and ..Hunter : a:ttenoed speCaied Cbures atyrcuse t�ri'iversity', and.` tbtained rt`hehree�yeat_ Ceftiied Munropai';lprlt Certificate 1.1.extenaed by; ';lnive,Sity. $ a member -b the 'Inte,rnetor�al ; that Ms.1.:ir,ai 1hstittut$ •6 Municipal 'Clerks. .. ,,. 6bop+ ' off . , le and 14l.genoy" Ft�tict16, fihe City: provides Certain services as authorized by; it`s fire) ' hart,er. Thb.se se:rcti es include ,public; safety (police anc arks trash and garbage ca,llecti. 'I ,'I .. . and'__'rec;Yeational,'fac'iiitiesr street mainteilance,r constructibn and 'maintenance of stbrm drain lannin - attc� development functions;:, conatructio,n of systems] p g` m ro - P and enforce- ital i p vementsr and'building.code, ins ectsort':, ca p` � ment°sere , 'ces., i .A The Police Department provides a full ;range of'pol'ace eery= ; 1'ces,: has uniformed; force. of 1,,060 and a full t.ime,,, permanent ,a civilian component of 424.: The Fire Department is rated as Class ' I and provides a,; fu11 r'a'nge ,' of ,'f ire ;: protection 'and ''emergency , ,,,��J,t services. ,as well a"s pr,oviding a full range of medical and rescue �-.,,,":,, ,:. services. a ,, The City`, provides garbage and trash pickup' and enforces `tj; �,.,!�_,�­`"�.,,..-r�""f",,l_ sanitation requirements Disposal of'_trash and garbage is per- formed by, the' County_;under contract with ;the City, The Depart- maintains certain; streets .and., evalksan_ , l. �Y anent `of Public Works manages construction .of:.,sewers and :`other capital faciaities :.�!�� - req ui'red� b the `Cit The St;ate.,� of F.lori'da and the .County ar,e q y Y "•; �- r P aining most arterial 'streets and. all`major ,I res onsible for maint hi the City The Department' of ' Pub11c` Faci lines �i�--, :7 *,� �,L�:._'7;,,�',� hwa s within g y " imalntain and:.operates'all City owned parks and administers var, r `ous recreational ''dj cultur-.al programs associated with°_these . .facilities, ,,:-- ,. - 12 I. :� ,. 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JZV0bVO k°Stbrm tpwer Iniprbvi;ment,i iYYi, :.64i,.i4.9iY::4 .4..i13 HfghwaY:.IT6pPbvemerifi,'.; ..j+::s,6s4`: ..:,+..i.:s,.i.ai 9-1'-�i 1991 - 2�bab,ObO 5'OOIObO y.. -" i. ii i. ,.'.... i,Yi - :,i '3 sintnary Sewe1"'a,i1,j,a, /� 9 jtr7t -, •1991;. -" y J�h 5;bbo,bbp i j� /,b i001J-' ' i,,Y.�'ia.,.:=ii1i j : ' 6 1 72 1992 t 00,a66 60,600 dire Fi'ghfiing r .,ax ...,:ii:...v, i":: i. .Y.,i:- _.it,' ,.. ":. 6 t 72 1992 5;b00,000 490ibb0 ,.'anitarry Sewe't.. :x''., +;:.:iii.,.A;'.44:iY., . Headquarters s..a, ;. 6 r . � i i .'6 L' :: i i.:`.,'i,. 6.1 7� .- 9- i ;SOO,ObO 456,Oa0 ;`aSot lee Stotln Sewer -1 inprovemt5tlfs, y r i : < <.: "i . i `, , i i . :. i L , x . 6-1 ,2 1992 _ 3 �000 i0b0 93d,Obt� ' Streefi and Highway fmprovetnehts „�`....,.> ..s.,,i :,.., 6 '1. 72 1992 2,0001600 29b,000 ;`Kb'i ii: pack and Reci eat;,1. J Facia ides:. x x ,.. i i .: ... a : 10-.1 72 1997 78`,350,000 12,96$,ObO . S ohm Sewer Improvements `.:. ,i i. : ,:,i +''i : x i 9 :1 73 I ,!t 2,;,000,baO 4,000,000 765,000,. 1,5,Ob,000 Yi?oI'i,ie.,HeadgUrters ;. ".;:,..,:.. ":, ..:, .. ., .- ,, ' ,. 'Sewer 9 i 73 3 - 75 1993 1995 3,00O,OOb i,24,0iOn0 „StormImprovements ...,i ..i. ..>. i.. pollce'Headqu,arters:: . .: i :.. .i 3 . 75 1995 8;b0,,,000 3,3 0,000 x.:.. rSenitacy Sewe,r'.Bonds .... x.. ., . Y •+ 10=1 7, 1995 5,,000,Ob6 1,450,000>: 1Poirce Headquarters: .. :: . , .:, '' 10 1 75 1995 2,000,000 9d5,000 7,17b,000; ji- San I Lary Sewer .' ,`. ; . :. 5 7 77 , 77 1997 i988 i3#ObO,000 5;OOb,boo 1,000,000 `'Street,and Highway A mprovements 5-i 77 1997 5` OOa,bOb 2,88 ='Fire F l,ght l ng :.. .. i i :. i i 5-,177 1997 3,000,000 1 -- I 1,790,000', ;.Eollce Headquarters. •. ,,,,,;,'. _ —'.`' 5`1 77 1997 2,000 000 160 000 ip , yStorm Sewer improvement i Fighting: , 12-1 77 1998 ; 1,000,000 600,000 =Fire VPub)Ic,Park and Recreat(on';Fbclli,tlee :, 12-1 77 2003 11,,540,000 7,680,000 !:" r,. 12'1 77 2008 1`,'S00,000 i,3{10,000? �.- ous j ng . . I.W t —i`,Stri6t and Highway Improvements 12 .:1 78 1998 � 5,,000,0001 2,93,5070, , ' Sanitary Sewer . .: .,• 12-1 78 1998 1998 bit '0, IrO 3,735,000 , 2,250,000 L,410,000; Fire Figh`#ing, Prevention and Rescue Facilities 12=1 78 �i'Storm Sewer lmprovemen# :• 12,,.i 78 1998 5;000,000 3,7,60,000: 1 3701000. t,;, : , _nFire,F'itghting, Prevention and Rescue'Facliiti'es 8 1 81 '1 B1 2001 - ;20012000,000 T,750,000 ,, 2,610',a00. Storm Sewer Improvement ... 8 2011 4,400,000 4,120,000. € Housing.. .. :. ., Rescue Facilities 8,.`1 81 5-;1 83 2003 ;` 8,000,000 7,650,OOp;f,, �uflre Fi"ghting., Prevention.and 5"=1 83,:" 2003 :.' 4`,000,0,00 3,755,000, tStorm Sewer lmprovemenf , f , .. 5-1 83 '2003 "•; 6;000,000 5,3,50,000 f,SararLary Sewer s,. 4; . " HI, . 5-1 83 2003 `. 5,000,000 5,825,OOt) r z,Street .and ghway .Improvements;;, . ..,.f�. �. ,, 5'1 83 " 2013 1',OOa,000 9 70, . 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I TAT5;PoO 6�67r Zt ---��: r��66�,27 .�� �--- '---1-, 2004 005 ' -2,215,000 - 2,410,000 ' � rI' .-,. -� I0045r000 970 000 I - -- IP556'00 - 4r93Qto0a �- (.,T�rP6 165j - r.6. , I - ' �- Ff.66 - �- �. -I--,k �-- -- ""6,-- 1006 . ?626000 - I- 14 vdo �, � - 1 "04OL,000,. -� J,655,009 5,3t5,000 & 5 5-57 J. .-4�-- - I , , .,- - -- �-'- .-r*-- -. 100 -�_ - 2 8 0 V00 --I 26U. rrTi 5 666 -- - � 7-1 775�000 I 900!000 iI,65�,66 167�05 f, (w ! �- .',"- I 095 006 I.;380, 00b T20.Po- 1"290 000 2 030'-00 6r6600 5v06Z'Tr -,1 J'- - � ll �-- I*: 15% 200 - - � ,-3�5,66 .' 1 _ I75-000 -,_ I 22POb 3.��47 -- 5- ;" �bio�� -3' O�000--.: ,390I006 - 2 325.POOG &36-000 7, 642�0!�-5�0* " 2.1495 600 P355oAO.&P1,A , ,,87% - - �- 2012 4;050,000 1 - 66 070,'PQO�,V , '-2,3� .8&5.55a ,- '- 6j 4IAI0�000" ­ f00D - Tr570 .066 J.;o r 77� -_ &OAFf 7 - 2014 - - - 4-720I000 � .8 ,00O 3,045 -00 7�3%5OB& --62WP-� 5 5 - .7.. -"S60006'O ! �"$lW,00 tQ:00 S 3,2- 000-SI6 185 000 M'000-0 . S40.000do& r�� v,do&it0n06 .'- -1 -t ' ,- : :� � I . � . '� , - , Al I . " �� 41 4 1 .t' I ]' � ' ' : ­7�� ' � - -- �� : � ` �7 - I - '0- ,'.I 4 - .P� � � - - L� '- � - , , �" -- �; " �L ' � - _, I., - 44 - I ; , . -: ':� .-� 4 * ,.-''- � .�- ." I . �� I , -11; , '- " ,I '- L � � � ,'__ - 1. - - , - ... � � - �' , - I � . 4 4 r '. - - - , , _ i; I o :� �� � . - - � �, � - - -� -r i - ' � i Z.-- I � - , - � - -1- �. " . , 4 �' � . 41 - . r - 9� - � � �� I . . . _ - :. :� .11 _ ;'I _ ted, I eta .0 a - �T ,on., -. . 44 4 bads, :!� � :�.j I - � I , .Amounts. � '.- - . . - �-- - . Y� Z�- - - ­ ' � - ' -! �- ' ' - - - -: � ' � - - - ' � L � ". � L !� ' .,-_ , :'-' , r ­-, -,'_ r�_ _ _� r. ,�. - � 7 � I r.' -0 -thbf�-06yjhe�6fS- dua.,.:on ;� ctober:4 - , , � � ,� �� ` - �� - ' - - . - � 4 1 - ,. I - � -- ' - -- - - - - - - --'- .. � . � --r ­ � � ' � �'.', j, �- r I - 7 � ' o ... , -, ' ' -- - - . ' - .1 � I - , . . - i � ry " .. . --. v '6re� unc. � � . �� --_*� s! -��ca-:ve 'je u - r�Tei� - 6 H .t , ar .'r -1 - f,;, 9,7 - i , , ��: , _ i- - _ I . � � . _ - - - - , � -- m ...,..., . .._...: ,. :'' _ ; .:..: ..,. -,. . ,' {- ; :. _ '= '-' 2 f'i.nal :five months.'.o-f;f-isca(=.year'endingSeptember 3d, 196T _: .i - - ::Re resents:,i.nformation.,for;'the .,.. "'-' _ , _• umd i n ..Bonds Ser.I " I Fgf3T. rw an, amour f� nat . _�o= t'3J:'•fln ri l 30 ;the_Cit'y- Commission:: authorized sate of Speci.af:. Revenue Ref= 4 ..1987, _the P --.. 1- .,. - ... - , 7.,.::'- '::;-_-:=exceed._570 000;000=to,,advance,,refund.•the, outstandin Convention Center and; ParkH_ng Garage Revenue nds ., 1he's lethese g _ _,- . . _ .< .. .. Special'RevenUe Refunding Bonds is -expected to, close in , f9.' . :: r : i ntere5t at; a varralsl a rate > ryas beam as§umed at .fhe rate' oP t4 The- interest, r.,ate:_ w i th respect to th i s obJ i gat on which ,bea s . _ , ) , - per annum _ -- I j __ - . _ - - .- - - .. - - --- .. .. - - ,., - - _ _ _ - .' _ _ 3 ._„-.. ... .._-. - - _ - - - ;- --- -,., :. - - I_,.. - - -... .._ ..-_ _ _ _ - - _ :-_ - - ..--.,.. -- - -. .- -' '- - - - - _ , - - - - - - - -.- ~ - _. .r-, .. - :_ _ - - - r-..' ., -, - - - - - ,-- -: 1. 1. _ - - _ - - - - _, - - - - - r- - - -,- -„ ,- r- _ ,. _ - - - - - `.'. _ '. _ - - - - - _ - - v- _ '' _ - - - - - ,- N, ; 2i T � , , iii q '� I II : i f,, - � . � - - .1.. i, '�-- ...-, ., •{;j{ y� y� �y yg� y�.y.�6 y7 .i� �y y� y{. p yy +, ,yy yc e� 11, g� ( q�jy - - „ (YC tJ;11�Vi., Alll'i V'C.L 1'CS 11�:.,�. G l:.'. Cl ,,.:Vt t L� 1l1 C, JV� I'll, -. .. _ .I. - {; t, L' ;, -. .ram: �§ yg y. - � �y i , , .. V{pu�11}j1�yy, " .. -; (y-��j�CiLQ♦�jj•y'I� j��yy'��yy' ¢�'yy I1t7t Li5fi'i',_I. Ob11��t l�fi - .' LlVlIl��I1G� ' -(. - ..' ,. +btti b't ' �t�t ).fi00 t r,-.61tt ',o'j �I`It $�11-„����l�xrr�.,iciy���:+- $196���fy�bb _,$11-�,���9� ��-$�b�i4�6�bbb ". ,, fSada":C6�iiit� C��4).'.ry�r,gs4f660 bi$lsb0b 116.6�$�6$�b�0 , r., 421�081yb0b , I I �—, I I -1 LL � - �- �,355O�OI , " , � , 11 - - I ` , , 1 � I I -1 -!F—,.-w�.�.��<� � , � :+:� I I . �� � L . �$; ; , .2, . . ,90,531�; ,b00� , i '! � : . I . I ,:$181, � , ,� � .� I. i " . , ,ot�l's�", � . -b� I0: . " � � , - : -� ; � � � I$ , � , - I - � � . � . � . I 7 , , , , , I �� , . i , , ,-�, : : , . � ,, I . :. I � � I � 1 : � � ' 1 . .o .I � t �. — 1 � .- -, , � � , � , . ;. , , , -:; � � T � ". , � ,-L �t--Xlw ( � excludes the City's sp' ttisl kevert ie Rettindirig 'iohdterrs 19$ autho k. `'t '' ed Eiy the: bi.., 6t��tiissi6� oh '';April 30g `1981; to be is,s'ued• iti ,air amount M, not 0 exc668 $�'O�b603bb0, to : at4 *VAhce refund the Cit, "s outstandi�,'g $6biO;Odf600C(ticteritii�h: Gents ahie At king`Ga�-age peVet�uc ''$onds'+ :,- I .. .., , . i (.} Special obligation debt is payable from; revehue sources other than ad valorem taxes acid` ittIud�s special obl Lgatbn bonds and :revenue bonds. ��) �atcludes $ 1,15O.';O00 6a't taorks System Bonds uthlch ire oUtstsnding and ::,' ate' secured: by ,Tvenues bf, the.Miam'i ISade Water arid, Sevier Authority'as tae11 ..,es a ' led 11 ;, , f the Coi ht to make a" enta from: ad valorem texes, > f p g y P Ym -,,. z-_u. - necessary 6) As o September 30, 19$6,'b'ade'Gounty`s total Ceneral Obl,igatron Debt was ' !1, $529�64b9000, its totaI-sp'ecia1'Obligatio1n bebt7was':$335 900>000, and 1[s total'Combined Debt,was $865,54;Oi000: 'Figures shown; are the City`5 share 19 of the r=. 5;,1,. o tied:e County. s' Debt based on': a'tsessed : valuation; which is'. ,,, County` total. x, - 1 - - - - :i 11 Y ,- .}� .• - .,,t ` :� ..` '. --' . I _ - t- ` ,. -,. - ;,. F",, k : i .. ' d I • ,' ,LI� j -: - :• , �., {ri 4 iun - ' ..� F'E �� 3„ , ( ', ';f lA2'2 am "-,: K 1 .' f „ ,,,> .. ,�_ .l 1,.., k ,-..:x ,� .,.. ,. , . .. . , �' . , ., ... .. 1 ..! i , . ,_..-, .... ,..-.. .. ... a ._..� „f,` . rv,.-.,,4, ,._ i,.11 s, .aW.f 4 - I' ... i - �' i. ' Obt tot, btle a � a . � fi t , I ,. , 'I4' '1i�t� t'1�i� t% Git�bt �ttist I ,Its, Cit *j , Ls �At1)5P I t t� M:,:,� �� 01 t .t ,, ,'., tt5 t'1� :: I `� � CAt t � : �Agi: '; t��bt ��t � ttt it f�i ii ;�; 'be `i ; !. l . ( -'. ':� ... _, - ..- .",., ., ..., ., 4, .- -. �. - C Hli 1�L�a7 Aese';:Valuetic�t `�e�tablieeett(1),i. i i. i i 3i�� 184 y ��3 .hf {{y �i i�yi i, et ;y �s p pp 7� S iV111GJtei� Eyerfi''ptil'Oh§ '+"iiiii'ii'3f,-1 �q Sy r yy y� - - .7.; {v'�-VV�y -,:biiducti ,2%i-3i'i'i3-i3 y a q p a`q jy� W.,�+ i�. #{�y Nat". AS eyed ', 'alliatlVn of la it� � t ►_ i i i:3 T , i, i':3 3 i i gy23ij4�6y..�51 c I I ' - -, .i _ Cs' ty of Mianr bebt y Net Ca��ali'ed �teserve' Fuhds , j� �^ ,,$ g i i i i i,i i i i'i,4 i i i i i,3 3 6.4 i i i i i i ". ` general bbli atiuhii..ii p 1�7 6 y 6§" I L' t' -, ,' Be1Gia1�,btigat,i'nh(.'rltiii'ii3i.Yiiii�►.►i:i3ii�'+„ii�i. y yjp j 111,/tOy47�f %� )} �}/� ::� �,; _'C(S�Il1'ne 8:�:Net �b1�6t.t �_beb t`{ i3,311i i-i ii, ., i', i .-i.i i ii Y i ii 1:;•'$-708 j•fL6y,776' Ove 1a in bebty N t`rif Capitalised iteserve Fu, (4.) ,, =S ',!et1e.Y,a� ' Obl;i gat i Q l t.3 i ii i 1 3 i 3..-i s . is 11 3 i-i i__� ♦ i .,i l 3 .. .- �i . i .. . -- ',.�9 �834 f V00 -_Jpec lal' O6il ga t,i on(3:/�.i�, , i 3, i i i�.i i i i :.. i 3 i 6 i i. i i i i i i- ; iy ':: t ` Combined Net Overla lh bebtiiiii.iii.i pP I, ;: $ 163y655yC00 li - ,,, i PP 8:.i.. 3is.. Tote1`Com-, ed Net Direct'and.Net O:verla in ,i. `.. $ 472y086y996 , :' Population of Miami(S)i.ii..'.•...�i...;�i.• .ii.ii... 371,975 ;:i. 27'' 380 $ , Assessed VaIu't, n,Per.Capitai i.iii.i".....:i.....i..:' Capita... • • $ 24,$17 !. Net: Taxable ',As`sessed Valuation pe; i .::. • . ., : ' bEBT RkiOS. M Net_ Direct Obligation Debt �as a Percent of _General, ._ Net Taxable Assessed:Valuation..'..... ....•••• •', 2.07%: ' Combined Net'Di,rect and Overlapping General. Obligation 3 1X , Debt as Percent;o£ Net Taxable 'Assessed Valuation ;, :. .' $ 51., ,'� Ne.t...Direct General Obligation Debt Per.: Capita .. 11 "; I Combined Net:Direct General and Special Obligation II f Debt.t.Per Capita:.. .. ... .......': ..;.. ... $ 829.00 At` _s Combined Net ,Direct and Overlapping General; Obligation $ 781.05 Debt per Capita.1, .. .... .... ..I ... ... . 16 , ,� - - -, t,; ,,. -I -. tY L ' Combined Net `,Direct and Overlapping General and Special 1,269.12:. FU4 Obligation`Debt Per Capita ....••�•�• i '•••• $ I: .. : i r ;;, 1f f 1 „ - jUt t ; 'Assessed.valuation:of fiscal ended Septerber - - : -I t�4 30 198.6 using 1OOX of assessed (1) year ', ,` values as mandated by the laws of the State o;f.Florida`' .1 F ..-,.:... i i ',tP1, 23 rs, -1 3 it ,' _ U 2 tt.: -- � ffi6_5 dA ` L', f idffipt jbh �fo- 'ids , I �- 15 'ty t � 6F `I!�'t` � ,1i 1 � if 1 l ,,,1p�1 tad t n p ti h t6 :age s. - ''I ' nth i�i u l � if i a tt� � ^: Y`16�"-it��y i i1.UiL� �5 t�l �$Ed , � � �7� ,1 � b�5i � �ti8tt'..t�@fit � �' I -' �I ,�Ut � �� C1" � b�1� 1 '�,t`l�111'„i� ft�8,' � til � S V�f�ti , i11 i�iiEilY�ftv�tiu, ��u� 'dt�r. th��, ad v1,c�rei .t��t. -` (4} i t� ii�w � of Ctsuntyi t�et�t b���a tstt � ee tip: t n, { i�ytFgy� � /�t�t (�yJ yt(� (�1 :.. �Yhs�i p�{ .`'V$lUG tl �ll�i.' Wl'11°�\t 1.7'!-Vl��GV�UIl�tV ti11.1 - " 3 f:.. ', :`Y. "' , . § t ' d6d � _ the ' StAt@ 6f �i . �) fih� $� I ;ts§tItHAtI 11 bivi' it�tt � rspul ti��1. u -w 1 -fddu 0 i bus `he tia. oti6Px11 Res l ,tdhi hivdf;- ity 0f ', .br. r .,, -: ...r -, — -,- .- . , , 1 .r.. -. .- .. .. ., - ..., ...', .: - ,j.- :. ,'i ; ,. „ �,,_J i., I. •-I . O .. - ., .. -.. -.,- - _. .' �.' i.. • .� ':1'� .. _ ,�. _ I .'If' - �'t 1 f _,)� {. II. {- - ! .. I� i i, " - t±. 'i ..' r { - f { , , r. ;. 1 i? .t,; f, %::; �r, J lE _ _ _ _ .1� a - , _ _ - . 1; 24 i P, 2 �, - _ __ _ r1 3,, t- - f - i- _ 1 i. - ",- r- 'stiff ., _.. T. ... -. - - - -. -f 1 - va+.psn»rc! R�dso was��er ss»�mv :...��. _ :... - -' i, - . . � ..8 .. . ,-tI � 1 � "11 � " � ,� I �, . 6 ,, �,;I I � I �" -. i.I., 1 1, �:�! ;�,�- �:I ,:I.i .- �� I��.� .,1I� ���I1.��, I--4� 1.,� .,-'-­I .,l -II, . �,L;,� - r - -` -i�I, , -� : "z,. � I .. � , . .'��i'_ li�:lU- �yy,'CIJ t ►7CLLLt�. G' - i9' ,'i.­ ,I,." .,�l .I,I- �,p_.��,­ ., �I 7'I'�.,� ,�:­11��I,,.-. ,� .i.,, ,." �,�,�tI�-, �'1- b,�-'1I" '��:. ��!-, ,.`.I��,� �. , _} { " d i- . 111G,� �FVllllll �'`Jl�llCi .7'.1311t11:17GC� t�Li �a /. .`5l.�Ci1/C t�CY.91'�l�l ,�,,.,, :. l,I,.;..�: tit ping t6 dg � 7 i ► art fi u t . t t t6 Ci � ;'tb Adv ficbrbruf�t4. the 61 ,i'' ,'sutstaf�l tip ', 6i�Y t ►6" D �. ,. Lgj itI , f� f�f� i f9 ' f'1t rI-ih� P"f+;lA g tligt R6v6tu6.86�►' t Th .s l -f d is t t >sl r� .- .i� --' ,. thy' ' i, u f ut�'dlbg ,' t6f ��_�i,,�- i► ► .%s � �.. :.1 1.Z, ,.��i' I, _1 , , fhb. Gif ► i ipatf6C3 the iig,bu-A -b 0i ► b6ftt s i 6f t.h i: ,_.,.� .I�_ 1l':.�,� dui" , gt , 6 :pr6v -Ihg Pa>• , . . LfMe ht9 Ahd' 1nat Irit d��rel��tn� I .1 I-, ­,.z" . �! Ch° b f s -a'r x - 6le ,=to i u <ii m 1_ ,-,:wf�I . gi�a11t t �1`.��, . �c .i � I` d $1,5 � ,�� � O� y 'rasp@stiv II I , I -: �I- -_ �1 ­,'�,_:.�.1.�- ,._i_�,:,-­� { r, -­'.i�,l :.�.,�,,1_I , � :'. � ­ � z��I- .., bits ' mpr6vpf l�eflt ' P.�ah ���L:_.:. 1�: __"�0 :: ,, -� iI—,l.'� .i_,, ',i .,.: --� �., ,I-f;,:.,:: 1 ,. The City `s i Y eaf- , p tal t�ffiptovefnent program, (198'S ig92 } -j �.­f-T.:, ,,t, I, Il, ,. .,�1 l,1 I�,� I, ,` i I, IS,,,taiu d at: 5t 3i 61' ;60,d. M jbt: amphasi ' 3 s pi ed ort� maintein '_,�I,. ing aftd,. sstp ,ftrliri the City I'a in f�astriictif 6. The :c3toatost ' nuft�b r, l,�-1 l,�, '., t�f pf'o�e'ts,,.are ,diieectsd :'to housi .prtig attts, street itnprbvement� .,��I' I4�, 1��:,:1�,`:-, ;_,�l.ii�I_ � paf-k faeiYtis� storm Sewra`f and traf�spo.tation reiated �,�. a>'e c�esignec to :. ;.I-' ��'. ,-1 T..'!, -'�, efi opts' the cbmmtnity`_,edet�eiopt�tat�t projects _ assist nteigYiborhoodevitalizatioh and tepansoi7 of fhe braaltdowf o>± -. 1.'.i I,.,�, rrit'S .economic ':base. Shown Belo i i5 a fuhctiotIa , I l_ __�, .i-.��, r. ­;:-..,, the,`SixYear;�aital improvementrdgram:` „ ! �L I_l-,� -.�,�1:, ,�:0;; _1 7� -.. �- '' � ' - Furtrrtional Category Amount per,certtage -_�- -_ �­� �� ­I'-� 7j1:,. I,,, ,'Q��.: , ' Str et Programs.`•.. :...: ,i0i... •,': $ 88,600,,.00 15.71 � . `87,900,400 15 6% ­':I,':L,." 1, "-., '- �: 1. ,' ,�: �; ­i :��! �II� '��� �`.f �;' _"i Hotisin programs...:..,.:-.!. ..I.1", g'.;; �I 56+855tl00 10.0; �. .i �.:��, } ��,,',_ Pa rks 1±`acil,ties..:.....: .: ..:... ; Coftimunty Re.cevelopment :. • ... • ..,,... 54, 472,,400 $; �, :i,�* ��,I',�'.,'�, :,,,� ,iI,_"i1' 54 � 363 ,.000 9 .6' Auc itor.iums.', .. .... , I:.. .; ..... . - :. 369' 000 9.6 54► I. .�,.�::, .'�.,� ��. Storm Sewers ... ...ce. ... 0.,.° ,. � Pa'rking;, Facal�ties.... .:..... ...' 49,, , ,,,, 0 8 6 . Ii i, l:��i ,;­-i ` Sanitar:y Sewers.°. .. .' •:... 36'159;000 6.4 , ' : 20,.298;;700 35 I� !� ,", ,I,, :: ,7�iI- Fire::... ... ....:- ,.. . :... 17,006",000 3 0. 't ��i,� I Rolice. .... .:.`:. ...... 14-,, 635 , 200 2,. 5. ' Ecoxiomic Development :. .;:. .: j . General ;Government .. • - . • . • • • `'` 12,:037 ,.400 2 .11 � ,� 8 .145 '000 1 •,4' ;,��" s Mardnas' s'.,. .. . ...........: ,:1.2 .. ...: 7,. �� ,-i:.i Transit°.. Systems: ...::I:.. ,,, i. _ I . 449 700 7, Stadiums...:.. .' .. ...: .... 4► �. ' .� �-A :�:� 'L� ':1L" ,­11.I '- 1 Solid Waste' 2,:`302,500 .4 . ...., ..., ...., . lj,�, � Total Capital Improvement Programs__ $563157600 100.0.% !, - , I, "�-� � � . .�_ �3 �- �". �,1i' i:i�,�- - ' ,. 3.-' �,� L 2iI ,��!���:i:I�:�;. a. ..* � - L`3 �I: I,7_1I ,,-. ���_ ,t:� .,,, '�,-.. _I� �:;': -i,�, �-'� �'-,,i.,' ��,"I �*�!1'. �,. 1 ��_ I ��l_:i ; , ,, I" I , �.�Z �!�, :. -, ,., .,.,, .,,_ _� ,' �7 �- :,,,, _l,I,"� �,I,�1 � : ; ;i �:� �I� -� I�- l ;; ��1 I�� f �� f �_1j- �,I. ��:_,, ",�,;'- -1:-; �I�. ,; ";1�I4 ", .',- L2 6 ,,,; ��.- 'r "I, 'I1�I, -I- l�­Il, _, -i .� �� .- _�- l 1 y .- 10'72 l- e, __._ ;:,:. ', : ttYCitt►� L1. ,, , !� t 3 t � stun' a1 � fLottt�t tt hi 1.tg', uhti l d�P'Vi gI: bf fo ssi tg ', i f the 1e, ,_ f0fi6has� �f ivii1.ii pus 1.gg�� i t S trt '. �it'� yiCt Pl t s ,'a fiou.�l t , ' .i .,' . . 'tltI:'wilu� .t y i = tie ah� datarhg :tj , i'tig`:t � f Stitt ly $S mill i� t �s `' which � �1 ii�fi p y Abl within �n , h 1 Ely �ta1, al is a' Ski I.Insurat de sTYc abi .ri ist 'unit t� and a ad riiatsr i.ns .. , I, -e a t'"I Iivitles r6latiri ;to eftaIh 13f, � ty h at ttt ahri 3orkets ` i tpah a� , 1.i i liil.it finks r g up i� rit':an tidh� `tt� pfti;ipatihe� :<tpetatitc� d.patmets aft'11, bAt ec1 k 4 � I.t�a.rea 1.�tpon a nouttte tletart ihL!, -b tiara g merit, to :ba n e ssaffi o�stimated -the f isciar _' '°: i regcird ; at�t�ua1 aytuts ,dui ing 1 lability furl i't sutattoe. i a t s i'rtd bcla the e$tim tee future1. lsia ;and anI ,: bii`ty `btu e �etiyas`a ba�sa all pand'iinlpr1a'�2.fie fob b1 aitn' , iricut red but not ` acti�aria11 I't detet•mitiecl.: aie�unt . unfunded lot�g-tein.Pl.rtibfi of the,,total esti�nateci i r-pbr;tc1►'he' t hiclz ,is " ' -e ed 'to tie fumed, from future : ope: ,at" I:- " r i` bit sty and r Term, bebt account group 111. is irefl`ect 1g6► d ih the eater l Lohg ember ; 30, $ 0 � 9I as; of epti.o A r r afnduTtteii t' alp, y11 ro�tiiI , t 11 I' CRtblT RAI NGS i ' ,, 9 �! �� ._ i ._ 1 [The 5erie i98 Bbnds; have r`eCeLved °the faun, s of i 11; " from - A t ' '�, ,,"� fro anon and :Moody', m Standerd door`s Cotpor of the polity'. Investors 5ert�ice based on the, issua rice .1 Certain information and materials not i. ,�;, ' ..,l.1-II-1"-i�I�z��,`_,,� included in `this Official 5ts.tement;were: furnished to the ruing rating ag.encies..base their ratings on tha' 1� agencies. Generally, materials so furnished, and on; investigations, ,,-_�' s - _,_�---:�I-�� �;�:- information and Such credit .. .. .. - .. studies and assumptions by-, the rating agencies - suc rag 'agencies, and an.: ,-k -( { i ��,� :l*,—a, ratings reflect, onT,y the views :; of ,;!y the s gnif„icanc'. of such credit; ratings ., : t expl nation of ,respective may be;: obtained from the credit 'ra'ting agencies. There is no: for any given;' ... ,. ,. assurance that:'such credit'ratings'willcontinue that they willnot `be.`redi,sed or withdrawn: - " ; , I �f �-t,1 :", ,��t;I ,;,,:.1, "€ 2 „ J pe.i , time of in: en irely by either, or both `o." such credit rating agencies, , } j' ,.�:�i�.-:,�,!. their' respective` Jud' :ts circumstances so ::warr`ant.', Al revision rating ;may 'have: an„ adverse' 11 r or: withdrawal .: of . any ,:such'' :cr.edit effect; on the -" price of the Series; 1987 Bonds. j ,; , . .41 ,:1,:�I1, -�,,.�I- `��,-,`,., {3 ;:. ,, �9­ :�-',,�-.t"i` 1r,i91';��1:�� -I' i . ,. �I-��,1 :T`.--.-�:i" h' - ri .�i I - a - - '6,*_ ,;-,1) ' - ,,, -. ., - ,. " ' t{I , ^/ R ` V l. :"- t : 3 ! _ 1 - -. �-�;::�-: �"�'..�l,, -,,:.� � ,'�d ��-,, '-': �:-:. ,­:��.� .,I �i�,11 l"A , t, i` i E` -�9,-I r. '' ,:, .� s.�.__,.�..,�...w._ W , ;_ ;' � :, �i ':�, 1:,� . TIC ,;. , �:. ,,, ' ��: ),i1� ,:: .,��-` I, ,-t�,,��',� t dirt iit atih ir�iv,liis - aga ht t.t it i ­": i' :, :d,1. . ,� .i,..'� I .i -�,' ,*,��: .. .!. �% c is tis '..i tit ttor l6ttef a tadh, rig. ta A .- t: ��:�.t�, :��1_--, 1;�' -.- ,,-'_ �]Ir .the, .r` l. i �, i ! ili b date y tt e i`t AEI., y i tt_ , , " !�,, ,." 3�::,:-',�: .: A'I-. 1,� �-._�:�, ,�_I" ,�l.,,i,� � etb�tittM as ­&tci §i-ig 6'dUththt� thbf'. 49 #got how 3efitI.itl _. i i ' �,! ,1� .I,,l �;1�l, ,li ,:, �, gird t6ti t Ah itf tip i fe tfait"iih ct art tSit, h thL i rat e � , � ,I ;,:­.� �.� i.`�. jj� �iie;f cf the.ie`,ohia �5f. the 'iey fir. cit'it�i�f ,; 6,,1';,1,1­ � . ` �:� .�:"]t _ 'tikes to ay th '. -, Pal of , 6t• the interest h the series ` ti � �j(:� IL, ��j� ���t * : �tld , t f ti-' I ''li:fizz ti9e p ° iced %f1"gs t�,Y aii,tht i ati8ti tt%i e �� ; ' '' ., ,: !_-, ,,,-I� whiph th;e.. tie ;` i �6nd 6h�e;'.to ;be issuea ;, t��_ �f��ctTn`, tie :: ;, ,; �- . :L ,1�-�,Il� ; j vl�,it:."tha-5si's 1hdsl; '!-',, s' -,:, :.1 k ;�,4 ;�­'l� r :� ;���" , �:. :1'­ -­��",�� �-", �� :,Il,�iL��-�, '� �_';1.,­,,- .��.�_"!-- .:-, !"��1L- _ - -�1�:':,11. :! .�-:�I �; :­� _,,�I�,� , PfMANClSTATR"N�T`S �,- .,'i�� ,I..:., ;1�.. j.,.�,� I,�:i�t,� , ;i L­., ,,i.I: � `ef ,.'1--,�,�_ hr4 -'1,'z1�,�li'i,1i, �:`I; I1,.� �,��i:,: . -�Il'. %: -t �"�I �! ..".-i-.� ,. �:,L.� i�,- ..,�:I-: -ttie City setortti in this bf 'the :financial etatein`erits I r - - ': :!!!,� _I' ,,�.i— -., - coal 5tatetnetit hate been e�catttin�' : by Coopers Lybrand, �ri�eperi ,'i�t�.'* :" +a^ Ai'�, ���!,I ",�l ',t,! , ,: ,,1 Merit 'cet tiid public accoull.tants, 'for the fiscal year ended ,­i, 1I7 �:�,'_�_�' �, I, -::­ .",�, �!-:�., ,:�I�,t`!�'� -; t�� 9eptmher019$,6 as:,stated ;its th+�it= `report tc tti City CotnmisL �t, ��Z ;: ����i�. :��� ti �:.�C ,;- .' ' `,." ,_:- ,.,: , .soon' dated January', . 198, anc�; are an'. -:integral part of this I the 'i , Vinancial Section of 6ffi.ciai lea Appendix A, .��,�,, �,��,� �� -,:, -.1,i�, :,; ,­ ���, ,ISta_temetl .: bi6prehe save annual".'inetlCial Report (Financial Statements;]" I_.'�,�.:i �1�1�_� ,,�. ,; , ,, ::, �"��I�I"�! ��6 � 1 ��i � -.' yr-r I .� - '.'. t1C t'R�VAL �F_-:'LL.l7AL PtbCBDlNL7A _ . h Certain'.ie al matters incident to,the'val.dity of the Series 9 i,_; 1987 Bonds anc the ssua`rice thereof. by the City,_are subject to - - ., the approval , of Holland & Knight; Miami,-!Flor'ida, Bond Counsel, ;;I i and Vindent:.'P+ Mchee, PEA.,irami,'.Florida, Co-Borid Counsel, -whose approving opinion (in the form: attached. .:hereto as Appendix ?`` g . E), will be ,printed on.. the Series 1, 'Bonds Certain le al matters �'�ill;;`be..passed on for the City by Lucia A. Dougherty, 1, ^' City::' Attorney and for `:` the Underwriters' by their Counse'1, °, Ls off, ; Rosen & Quep. t. _ Greenberg, Traurig, Askew, Hoffman,:; p P.A.; Miami, Florida and Jesse J.,'ft racy, Jr Es_q. ,.: I' Y.49 Bond Counsel and Co Bond Counsel have nglt undertaken: rode pendently to' verify and therefore express no<opinion as.to,t;; ��iii".'"AI,�: f accuracy,, completeness', fairness or`sufficiency of any of the ` statements in thin '_Statement, ' A, r: information or contained :Official any exhibits, schedules or`attachments hereto, except port.., ,:or hereof ­cap tioned_."Taa Exemption, Income Tax Effects"',=';Auth,oriza L tion and, Security" and "Descr. ption of theSeries 1987 Bonds" to "' �, the extent such sections '`„purport '.to ,,summarize' the Ordinance and t ,, `theNo opinion is expressed by Bond ,Counsel :or Co Bond I .:law Counse'1 as; to any financ al 'or statistical information or data ; included': in any of 'such sections. r ppc t H Q - { J i ,' - - -� - lf + so22 E 1'1�1,4111 el ,. 1p :'`, .: . ,. 6i:6 �dofte hte st oil tYte sibf s 1 8 tb 11 s a .. iiid ti # su1t'o;f° t�t,pott i5tio'tet W .no'Fei3et � , t " �5flt %t `5� ' " :, 4:d j jd t; d� , � 66k( i i:Lit�l 5t ;tii' ,_, . t�stL-1 .u' r i1 Sarhfn s i i to e'b) e yea bie,gi t iYi , .i't� ai '"i 1�t`ott1� itfiati.re.nimB ttab i�iome . feet ` 111 fl eas=eta ;ley t�r�'���ti f 6 "t . " �a��c�fati+�t�'s, �djt�i;te�l. i�idlii et i� its a�ter#�ati7e ..t i ii trti t " 'I c .k ii t3t e hit itliervti e :: , ta'�b1t 'ir tbie ears ,'beiit�i see bd+tber 31, : ".. Ar; Q, ,. 1 9 iC� S ::i 5 tiO'ti ` e ) to .ilati e t13ni tl�1 taxable in o me-.,�S11. „ bo s _- ihre�d 'by . ;ee"n'tyivetent ��'�') bf th:eif�rtie� fiot tied.; i i is „altetfia M a6�uate'c durrtnt e`arnih s 6'tK6�v�iee. ,itlo lntere -t -tin, -h'e 9 rie'� 1 ,I � �bhs titre" fi'i"i�tu'i t'ab e iiont , : d . �: - ra ei ae) by:; a r rate ' 0 1�old r l be bludi�d i:n s e''' a.ldet curt! t eer"niI,ga for ",taxable eat'e` bei�irit in . "- h !_s at lue_ted: af'tet eeenber 1y`:�985'" - . EnVitbnMental'. t� erf�in.c) Tad, 8eotion .59� of the bode innix after bbcefinber 31y 1 85, and ," imposes for taxable -ears ,be ': 1. -t'' e.,.' �a uar 1, 1' 9 a.: additi'o al tax .b l oorpo anon, at a ": t'ate o ] erGeitt on ,:thy ��tCeas over $2 ► b:bO r;OQb of a corpora p, ,� interest' t, i;n�mtr t tasteb e ;income. tion s " t id1"f iec) alttthi ative i bn, the.Series"98 Bonds"":received bpi a corporation will, be "modif included ' i'n ttie detertninstion of . i I - .onI ,'' .,c.er''s i,, - . altetriativs minimum ta'xa e, income, "` ; , 3,' Financial tns"titutions and'-?ropert`y and Casualty Incur ence Ctimpa * es :: Section 26.5." bf the Code provides that ► for tax 3"1, I986, a ,financial ,institu able years`; ending ;aft'er be°cefiber tion verses 1987 Bonds',wi11 be. deni;ed...any d"eduotion, fora ..holdrrig its irit"e`t,e'st a tpense allocable ::to such Series 198 1 fonds.'. Under and casualty insur'anoe Section 832(b)(5)(B) of the`Code, p,roper:ty companies will' be,,requir:ed for taxable years: beginning after ,: ; December 81, 1986` to' reduce ` the amount :'of their deductible' by`, 15 the 'amo'tint of tax exempt ;inte'rest� r underwriting losses ,of received .from :lr-tme.nts." ma ,.e, after August7►` 1 , 6-, including i'n,vestment's �n :`the:, Series 1987 Bondsa 4. Social Securit : and Railroad Reti"rement Benef.its.° , .: �:,�, �!,�. ��� Uai"der ,Section 86 ,of the. Code,: reciFT. , s of ;eertain _social secur may b'e required to 'f ty benefits and railroad retirement benefits such benefits within gross income by reason :- ,�1;:O ,a �,: r 4 i;nclud e a:;poxtion:of �;��� " i : of re"ceip,t., of":inte_resE'on the Series 1987 Bonds. �_:.-`.. ��" � ,i1'.,,1�',",_:� b". iS Corporations Section 1375-of the Code imposes a tax `, _, on the income" of '.an $ c,'rporatiom'having :Subchapter C, earnings -:�, taxable °, if 'greater th,ari �-' i_ year, .�I_ and profits a;t, tte close. of :a ross ;receipts of such;: S corpo :. ; _,�i r twenty five percent (25%) of the gross, ���,�1,'�! -.�, , ; I,, .., Interest on the Series 1987 ,t, ration is",passive:investment income", S ri's 'passive investment Bonds- wild be a.nc.luded in,,an corp _11:_ i ,l:I� 9 income _ -N -,i',�.:� 31 _ .,., .; - c, art,,. 'Y.` )♦ - - 1027 - Y}' -- - I Fu - - ---. , ; , � . -� , . - - a *"-",�":,.� �- , T, , ''. ,; ---,.m� � 0- - -, � : . -;' i �,-,,- ---� ! - �::, � � - . 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' I1 ;ir-,f:��;� 1�­',�'��,._,,�,��,�.,- ­ , ,�I'. p W, I " � 0--",,.2te11 � " I I -I :­ -,'- !!�jtP,,11,-, ,..,,.� �. it-;...... 4_-.. ", .__ 1 ; Nb 1 ,. _ - _ {,�, '�1y, {r�{,jw;.[jj, ((' yy yg• - '��g){�� �($,). `y7�{uy'1g '1y, ,y1�,, (yy •��y�y�.ry�y{�y; (yam` �lj�yr .' {��[• ■py r� Lam/ 1 V1\L1 PIN"C -✓ IINVIMA V 1\LLATIRV V9 1�.1'L {SYt l rl b l"1 T 1 - y11�r 'i11 L�r l tiV 'r 11���b i4' ": ,i {t1lift �,! - 41 ' h r it �la t`' �r uir a ` ee It Ah&g- �` ,tc ,, ,'- - 'bid ht': hth be t��e. pte nb 5 ba h .'}r �t �'t17Rt t iPl t fat r tt�$t� ,r f l .— Yle t.. ,�abk� ; a sa t t nt 'e ra' 'as, its bin bird t t t st .for ; r vIetAi by "°the >Cit�.: Ma�al�r i1. Tht City;; �c�ttu�hi����iri ht��ds �itik�l �', ,'41$ :Yai and..uat apt the ''budget r►bt ltr L. ha.iy�ga _ gq�,qqudt `; the ,17". LJ� 1 Y 'i 'n '., . 11 . " yy. q1 % . '„ y ' ri_t'.! p; p� j } . y� �G yy yy �t i i �y yy . % 1 y y t y� hG,+�,ti_' IJoG-111I1C1lt.L C.,uU-' �Gl/Cl �lj_' �7pGWla1VCIIuG%'_ , -tg! " bebt. - , and :Ca itai •.�r��_e is u `a� at�d �t ndab a test. s ui�r a' � 1b�t Lodi i6 acetual ; bads bt a t�uritit 11 j utif �"11 .the whic-Ith ktp�ehdituras� at'her than iftttt0,' l do llo to m de1. bt, see 1iab� ity �nou t :'a ►d i, 6vi nu1.es` ;' I - _� generally .,'recorded; , , ,n' the �s...;. are r corded when iaastirable and IaVailaY�le r tb f tla'ice the City, s o rat�.�ri 'lhe acer "1 basis is iit�li 'ecl by aid �roprietaY- anc .� {gypp p y� ys. jam. i �q {� y -�, ...h ibf1- �L Lu.7t : rll dS,i - . C C, 'the financial statements of. th'e. City a�r,e audited annual 1S by } a `firtti of. independentI'll cettifed pt�bii'c aC.cr�untants, pr�sent�y: bopees & b ndr `' The • bpinion; of the ' independo'nt e+eYtified ;pub -;: ,L- lic coiit5tants is one udecl in P,- ' - a' ' A+ '-"C.q mprehens� � Annual'1. �'nancal.,tept�'rt "(Financial Statements)"� , ., ,, El ''�' <,. r i, im'��*'-'�_ ..:11 ., 11 - - _ } I! L. 1 .. _ _ ,, { - ! ' �: 1. } ''' - - 1, , ";iI. -. { a 1' " " ": . i,; ;, s' ;, � III., " �" - R r; - n:` _' ", � .,. t" � ..-�,ra Y �}I`;tI - - r - I - i -�B 1 I, J',ls. , s i-- I - ._ 102'L - �. i5� h, I bt ! �i - I 1 K `(� t I -1 41181 i65 t9 i9, i' ces!'::' .' : b ty `f'�t� ii,ii:. iiii i. $ 8$0 � ,._ 844 � + �-1 -$ ,: -.�8i� ,' . 61',,�865 tf5t'I! t�iog I air we i l�jl ij 1y�}5��� � i1-1 bi�6ji4y ,9,0-tv' ;, C'i��idI,i9, ,'i f�319tii'i't►4,iliy ,,,iO,�9J Ut�WI�' 4; � �1�63j4�1� .J�/UJ 4+��7 7' 124, i48 117�845 106j:154 9 .j970 7,�„458 Litr3ses �tia@tit. tttl�ti�tt iy�ess.ii.i. tiw(l]1.9 3�982y874 4��5 �f3,9yy�4 ifii t ,._-� S_►„i,%ii, Y i'T iii.�'i i i i-i.i."'�;y g,i9_ `...:. _..".i.0 O.� �1,0,1 --„�4,4 (�-,, 6i015 b)041 5g853 ,..: .... 5�288 1. 5i452 -... n ttgojjet+n ental: r: ,l,,2� ,' Pedeedi eVenie 5hatIt & ... i 7 449 8, 021 9 ) 987 "��Im,z,1- ­;,I 9 � 267 -, 9 i 281 , -�,-! State kev nue BhaYi.ng...' .. 11yt5 lii;962 11)I15 :. I* 2' 8 1i�684 ' 8a1es 'T�kes.i.Y.i.....i.i.. 1b,:941,355 : 10y684 9,478 thee Grant,.►.,.ii ,,+.:.. 3 1'S3 -5 952 878 ... 5 442 4 ,1 :,�.I�j � 4,-- : 1�� 3?,,395 �38�1,;O 353514 �, 35I'2$5 25) 84 14-,,I�, .*,1..�,l.,: � F,:,, Itit6i&verhmdntal'.►,.{..►.... ' 3,1713 2,,799 2i687 ,-i.tII�: 2;4,83 ' 2'15`11 Ch�fges fox' Seat%Ges::: solid Waste 'Fees. i.._.. 4.-.. 1i"_47 12t994: 7,7_i5 7y8fi7 6,$4i [--._ , ,:Other Fees.. i.; i 6',;.:... i."i:. i 4;663 4�6�+b 4,412 3i '2T 3,�.50 , �-1 ��� �.i-i2 , 18 410 17;634� 12;1.47 J 11:494 10 791 , l.-, Other`,�tevenues a:nd Financing I9,;,��.-�-��!�,.,�,1i�I-,1�.,"��1�-�i,.-11,,�.�.j ` Sources .:. ....' .�... 4i621 4,'371 S;fill : 4;446 6`,14$ E{ Total ..:....:....:....... $1$9,'1-03 $186_W $167;966 : . „. $.153,966 $.1373744 ._ , a,� Spec1a1Revenue-Funds ,.,--�,� , ,I:Downtown :Development` Au't:hority °. Thi's Authority assesses-, a ji,' '_ separate: milla{ge rate' to property in the- Central Business -District. In 1986, t_he Department of Off Street Parking contri , ,,,�,*.,;,,.,�` buted in,excess of{$302;559 to operation. �,,I , r - Rescue _Services :. This fund:,:accounts' or,a -,�I1:�-.,, ^portion of the telephone,; :..franchise tax ,especially designated !by the electorateI t to provide additional rescue services.' �:ffl! r: ,, I,Federal Revenue Shar-in g,,andGrant Funds Federal Revenue .. passed th Sharing, entitlement ;funds are rough It a'o the General y! p, and Economic D Fund`: ' Communit Deq.eTo menu Block Grants:' evelop " 1., `11,�.I- . ;:; -, - I�:��-,�.%!' ,"- �f-�,,,1 x - B 5° =,, 142'7 r -. {.: .' - { '! .i : , , { ' 1 Ta�c Lev 1.es`and 'C , * ecN. onsr F.iscaf:,Years:,F` d6 September 30• _- , .�,_, ,�" I- ' _7 I, ''-- Total ,.. , - iI ---I - ., _� �.:1R Adjuste-d. -.,Co,lIectlons .:Percent Collection Colfectcons .u+� Taxe , ," __.-.-,- _I-,.�I. .I*-- * -,- .I �� ',­'f"�_�-�`,I_' ;'­.��' Tax of. Current _ of of Tataf es Plercenf sfenrEkrtc Ats.lercen` 'F- MtFs er :,_ .-_ '_ FiscaI Lev ' Y „, .. ' Year s. Ley Y 0etin went q Ta of Current' t1e[fnquer�t_:-:_ :ort-CurreriE.- G6ae rP ° ...f7ef5*R . Year. All Funds(1) Taxes Col'fected Taxes .: Cbf feettuns Lev}r: Taxed ( ~:' rev- :. - urF .. ;S,4 i&� _" 986.,. ., S109 938;000 8105,457,000 '. 95.92� -:944;000 Sj06;401.,000 9fi 83 S3 3.t�`OOa .ak 1985 ..- 104 135,000 - 100;9.76_,000 ., 96 97' :.:_ 7.- ,'' (3) ldi 691i,000:. 97 6G;:, 3,97Q;OOf 3� 1 .t35Tt .: . 1984 .. 93;340,000 88 982,000 95 33 3 036;000 97,018;000 98 5rt`, 3;36T 00�.:: M— 71 9� 1 5�770 ` 1983 .. .. 83',025`0,00. -78,815,000 - 96.38 j!209 000 _. 8d;024 000: -:.94 93 2 925;OOQY:52 9� 0C1 1'.66 .: 19132'; 76903,000 74,040,000 : 96:28 - 1-067000 _ 75;107,000. �F.66 = 2,489r00(Y..: 3: 8"3 F TF7 1981 ,. 72:619;000 70,288.,000 96.:79 43T,000 _;170 725,000'. =97 3 7,Q2T,000 2N79� 9�;036r __'` ggl°: 1980c 60.,983;826 58,789,796' '` 96.:40 =' 30T,659 Sg;097 455 -:96 91 -- F , 439�3f1� 2 ,. t C�.O©f> - 96 ': 1979'.... 58389;375 -57,325,287 98:18 -_. 430;947. 57,T56,234; 9g 47 i-5�59;36C 2.6T ta_(It7 .4 1 1078.'. 50532,016 49,095,263 97.16 523,373 49,6T8,636:.. 98' T9.. 3,T95�9T9J - 6«!t9F iOFwOQO .: 3.20( :' .` .1977=: - 43 854 070 '. . - ... -- - ..- :.__ - ,. - -._--' _,.: -. :42,969,232 `. ,-- . . -.. _ _..., _. , . . 97 98 _ 650,775 - ;. 43;:620,007.: 99.47,: -: . 2 282 i39r , . µ " 5.20 - - III a'. 3, .r -1 - i (U _: Includes levies for,geneeaI operations:and _. , _ debt service._': - - (2 ),-_, .: Nt t, -" -. e o reserve fora- early;payment.discounts aril uncoLtectable tax of-approxfmately---5, of total tam levy .. . ,• -._ . _:, (3) Starti n.;jiscaI,year 1985,;current;year's:"deli-nquent. .-.- - ax.col_J:ect,tons'are ircfuded W4th::coC-fectiorx of cucrenk Y. ear's taiees ,-'For ears r.Fo for R. -. 1965 coll�c tron of,;.delrnquenttaxes included .both:curcent __ year_and:pr.ror-years" _ defrn'uent_ta>F coa:t`ettionssf. q _Y, - N _-­,-"q � ,. � , L ..� �,7 :� , ,��.,�, ...,._, .,_�-_,,- : -,-� -�-:-� ,; �_., �, - ,I. - I I . 1-,. �- ....,z. ,. . �i , ., - -,�-_,-� ,I, B= i 1 . --_ - -� N - , ,.. _ __ ;.. - .,-� -__, -�,-. I - ,-� , �- I- _: - � -�.M.,-- - � � � ,, - , . 1 � - - = _ . -. - - _ .., ., ,' 6 �y 3 , c K ,y� ,3 .. y� �y p y �t , a� #� ¢ �E, . ; 7���gy,tC Cs1�'y�y(.t- Dy'y I, tr l h aIly�x ., j�j -1Cl :L3 §W I �'h it�1 '1�6f1 19t1611n:., ��; . yC �y {�pr 1yetyJ t �y`uf1d4 y -- �' i- '_ 1 1',u-.7 t t'' :1: l'u lJ'111 G Q lt/ f', t h e -ls I t y' ;l'1, 1 1 Ci, ,G 1 t 1 I C Jw; l- tic V L, . r l [,ii l l lai G �. h tatge to hafidle the seluf itytt�eStiefts o thetWu�rne the ur�d. ,� t G t`6 iFta 'a . el . st,risurande '36f".1ttee, appo ited`° _I :, by; trig City Maftageftodr ,tistt the Mari 'he Sty ie 961ffitieuted for frtoet` casualtY eXpc5autIs with the:,,e pt ot� that :06votieW alitside:.iii urance ig seoufaed Sheri � it is avl,a abl at �d6eptable ate i?urchaset poi i tclt�de o, ec vetihe all, f�ity p opeft ; 'bYoa 1, -k o erty.. pt�l ,, etira 1ibilit in�ifai�be• firt. its expoatiea at the �tiattti .bites' s r p a w t3enti ifl i dbtb Lo ''I ter ' 0 ; Marina, ° alb , ar,l� r p, a g rids 0 :.- the: C- tyr tad fidelity bonds Ott.: ail itY e ip �yeee. O b'u _life, incur tide and ,' ao dental .,death ati� d .. ..mberfinent insuYahoe ate-a°1so:,666tci illy purchased. the Oity self 'irisu�a all ecposuree not.'omrriercially insured, g.. inelUi In ehiotilaf' aecidente► oiice tort, and general l abile; ls ity, 'he.0it 's ibiility- for damages in` moot tort clams is- limited to $1tl,0 Otl,0 per, cl.eimant, and '$200, 000' per occur;renee itt accordance pith the'lori-da Statutes Sectioto 768 s 28 j3hich" �. such i . , . tent of �tives 96yereig► immunity �n torts claims tz� the ex amounts.. See 'Appendix ::A,Annual Financial , Report , -'Tomprehefttt. 1 �� i ` (it�atic>alStat'ements) :r Note for a diect�ssiori relating to: the - f City's.self�-insurance program , _.,. ..- , Grou health benefits are `selr;-insured `'for employees repre p.. and Municipal:; tibn seated by,.the'Amer:ican Federaof'State,_Coun y, ' 1907, aE n ,Ma. . al confidential employees; Emp'loyees, focal .,.:c''.` .. !not repre'setlted, by the labor unibri, ,and retirees of .these two , , groups.. i.The City.,also.off'e.rs these two groups;.of employees: the the`,; indemnity group benefit ,and, a pre paid health• choice' between maintenance organization. The City 'has `'purchase:d a ' specific ;stop ', . , loss' policy for self insured health' .insurance claims that limits the C tIy s; liability to $97:; 500 per.:occurrerice. ;: m to ees, Association has a; self fu The Sanitation' E p y nded health' berief ". , _ 1 a. s,s sole health :benefit' op :1 ni ,1_` In ,July; ;, F' 1, l_ , of 19184, _;'the Order ;,of Police and the- `Inte:rnat ona'1 1; ,_Fra.t:erna1 Association of; Fire Fighters established separate group benefits plans 'for both active :'employee_s represented by-; those bargaining f,,- units :ret;'rees;formerly represented' by .those bar,gairiing units .and as their sole ,health benefit option. The Cit-,s!contr buteon to P. y js de r`ou health' benefits: fora these bargaining unit employees Pr1 9 p - .- . ., , _ is liited,.by the labor agreements. The limitation for group Y`eal`th benefias is, an :'amount similar that which ;the City has _% .,to ' been co ntr:ibuting,,for these employees tb'i s self funded;lplan. , 3 1 ,, ;; j - - - ,: i= P; _ r,"''c _, �ii s. p - ._ B- l 3 - TT �ii q-, 102'72' t„1.�ilis, i4 ..._ : - .. . _ , . _ ,.. �� -, - �"�.. �� � - .'�.: _, �� �,, I: _�'� : "�. ., -'1� ,�"!�. h 7 ', '�-� :­��'�:��� '� V, ,.I &" "�, � :� ,� �1:- �' , :._�. � � ,I . .�, .-�';� . ' � �.I ::!� . ::, , : , :�, �'� � , ��. :',:'-.::":!- �t� '' �_ j <(:tf �� �'.:Z��'� � 'i.�-�'z7 '' .-'��- �—_:'I � _� n��. ­. '-' �� :j.1, __�-�� �' � ��::�''.- ,, �' '-'I � Iv: - .. ., ' r 1,. _ _ „I � .. ,.'_ .. _ � , - 40'' �, i � ',C� ... ,[,': : -, :.' ��-."'��.`.."-,�:�;; :� i � !ttol��!0;1 i .. .-,.wvw_+ ,. �. - - � , :' , , � � I � , ! ., � I - - � �' . o . .�' � � � �- , : A � , , , : � �!� - ;: - , . : - ­ � , ;';_� �: " !�'-' I : � _�'�' ,.:: �r �� i � I � � , ��! � - - :"� 1� � -! � "�'� - ., ! 'l. i L+ ._ �' .. - �1 .- i. :.,ri 1, -., , :- r .Ei. - - - . li'' cif _PIT : ,. - --, :, r .. ,,, .,, . -. .. :t'. it+' - ."1,. - - _ - t-jI• I; "n ;, '� r' .::- :. ., .�,r,. .. .. _. . - . . a' 11 .: . .- :• . . . I - .,t- -, p. 'I..f��i .- - �,i:. - �yyy,y� 1ii1 yyuu�,;, �j yy���y-.y�.�Y• - p ,, L(� y1 ry11., „' .. _ �,�`f'cI I - r -I - -_1 n Y �'' t ..,: sm - . Y - 0 Kv '��: ��,' ;. -��. � i _' I ! � " � 1 r - '� , � :� , ' `�'.�� �"�'��''�.'­:" r I . lo�" .­'�'_' ;. �' . �'� � �' ��. � � I . t :.:� ';� � � r � .,. �.':.r, , .," , '' .� WAR ��'��'!� ��'.�" xj, g! I,I. -,,, S' -�' ',t �,: I ", INTMEI:ti - . - I C, ` !- bu 7r y , { 1 t- Wing to 1 - - I' 1 _ 1 j i t - . 1 {1 - i ';{+ - rI i 1 j - - t h - :, ,,, - v..r i ..': 9 .. t ., ''; t it t 1 A - �,1 t t i - - 142'72 i` f rt it '� '' -_ �. .. ... s: y- '' - .� ��pp�yyyy ��yy yy�� .�y jG iRG t­71 f rat-� _ _ - - Y :��i i _ ' t�ew � fiiie�s� r Mi�6 0ttb %ba l� r r� it yste i `- iai :fug z�ti3 ��t1 ii �� i� :88 *!itiei s1ta� �t,: nei`ibb'iried; ttat�s'3:"ati�s�is , ; .: 1. aet ?icxitt 1'iie :. pitt ma jit i9rtta� tb i3�a►taWh'. teibiiit is t1.he :: ., redbnti, �n d Mti�c Ase a�°i1.' I tlateI l 9 61ii e,er�tt� i eity - � 'mevet :aY4 t0ft ��ihhtdted. tc Mettbra`i1 , .:.:: �:: , ai - ,, "t1ecuaa`hyf 1reaint� bt�ildet:: o:edaltyiarketpla fee. In ' do wnt6wn water tint settings, has developed _ .the' :i 'ti, ide" p ialt eh :dr ah'`twenty „: rea .. , Ity tSwlne� �ropart alc ng,;'the ater1 , in 'owt�tbwn 'Ms aMi ► Th :. ;.` t , pro��ct eur.rerit feat:tires.' . "5', i - - s ►.,i ft '� ti�w ret Yl :apace :: �'otal pr,oy et eclat :1s 128 , rt�ila�n with Citrf3rtieiptibn limited ; tb a `64 1milli�h investment in iarattuctut ' . improv etnents'.: ;'he �aysit3e .par,king Garage, toe ted :;at��acerit to :.the,' sps el j _- to ,:: f ce on.t,ai' 1 t �0 ': panting 'spaees and a stirace lot. 1 ay r6h-t park " Pa front ' Park y -1adjacent to the Bayside project area, is =z - currently being; redetteloped at,. a total oject ,; cost bf $2 ;;.million. Seve-nty percent of ahe projecnaiicing his been .b the :Cit throu h variety LI .Y ` , : ,. y, .secured a of :Fral, state ,and pri vate-tun 1hqsources'.. A , ,. , Sodtheast Overtown/Parkwest r The Southeast`' Over town Parkwest �Redevelopmen`t Program y entails the redevelopment of , 200 acres ,, of ;:prime real ,estate, ;adjacent to the'central`business di:strict, foit new 'residential °and commercial activity The general redevelopment concept `;for the t;; project area is the;: provision of a -;wide range of :housing oppor .1il ie`s, with I ;supporting commercial uses,: to serve :ahe area "s future popi�la'tion By the erid of the century ahe..'prolect 11-' areais;'envisioned ,..to' have the -capacity. to support :over. 9,000 residential and units over one million square feet of commercial , space. The 'City of `Miami ha;s been delegated _limited - ,-redevelop ,_ i-I pocaers ;for :thee implementation of the redevelopment: plan' Public sector `focus � -, , `<< , involvement we'll 1 on land . acquisition,: res,i dent"-relocation, n demolit'io ,, pr,o0ect marketing,_:infrastructure , ;; improvements ��and, conitructic i and`, in. some instances, ':the .:prove lion of gap financing. Tt estimated ;;is ;that .. over $1.0 :b11Ti4on 1n private, investment will occur during 'the next 20 years. Phase ,s I land `acquisition is neariFng completion and ': he . firs`t new pr vate construction _ is expected;, to c'ommer�ce on ,up fo fIve:.separate deve;lo meet p parcels: by, the end of 19,86'- Pu, blLhf ras,tructuze ;- `, - - C 2 A _ `; lU2'72 3: f ,. r : -, n ,. , . , -,,I ..,. � - :. . - . .. h'e to i t f i a l `, bItvb . Att h t � t � i ) ' .e t ' ' ' t th, 't � I t �� hi � at 14ia ti a i ,. t i ttiiinW`t� thiir1'ite h., u: iiu t l i 'Oal� ii1�tli Iltl .y M1d 11 , ppa e� t du t . • tii a gent ih ,,the :' `i't,iiduos Cl�}ty�yCT� ►y.'y� �c j {y u��q y��y yg yt } } y y� ;.. �py�f1 y�9bs � ►G l{l.� 'd : C � : ,q1. Vc i l i f �;cl.'L �yj.`ugh�y ,icy {1� y ,y1,.. _ A eLs; ply'l l l �,'i �i'L Q µ r�l ,r�L it i tWj{ �y,1i. T.t e a r iL• � Z. CI R a r - �. , � a./ � -,, � 7' :, .,' CiLGL,\rJ,1Ceti, W':..�G�'+�j✓'V �'LllQtl llCi �r,t UL G1.7'i - the trt anti. s-�ipi9 � il� t ist wl i h' eft ted :,fin �: l i '� n t ,Y h Yi i§ ill ,' i .� r 1�.. i5e' O t t i fi € o 1. 1 �1 : L i.0 �'e I uth : � r�rid tsh� o t1� f st�st o�ti 1 i , r i6t delis t ' ; i eters in the, ne;ti�ii�iv i� deaigii ta'att busit�eses prd $ 5 tfiii id 1 ftto tli i'i e r��Db" n ,i i y cab t gthbtate Ibal ee�n6tny� Mte thah 1$1T'n11;lYon in .`hew :'nstrution ,has' AM1 playa, . tai sn , p1a e in the' past ii e..pears at,. the li, Dias g _ " It, area within a 14�-block area in tidtoWtl Mums . .,,l...." -�. 1bCated on � ` is: sfit ci at d 'tha't p bximatell�. i �;llicn tno e wtiil t+e its.,." � p -, tech in Erie `aistrict, �n the immer�iate. `futu�e6.' --I �1'�i;4: _,` 'itanc'ia1neti,tiitibns ,. ' bade County ,is growing as 'an inte�natiorlal finahcia:l center: :ddit;iona,ily► with 5] foreign barks operating: in .the cc�mmunity� 'are 7 Act :Banks that' hate :moped to the' Miami area i.J �,,, -..._____-��-i' there -Bilge These nClu$e: `ankhmerica . lnt:ert�ationai, Bn}t of Boston Triter ' ,1' -.,,,,,,,, i national South; Bankers Trust ;lnter;national, Bancb,de .Santaridr' tnternet o,naL, Ci;ti:- International,' 1,i1 '"....LZI:, �����,! International, ;:Chaste- Bank' Irving; Trust, . Chemcal.Bank In'ternational,;Mariufacturer's Hano�ter: 7���������. L Irternational,:and_°Morgan Guar'anty._Internatiorial. The, Federal; i''' Act Amendment`, adopted, in, 1979, permitae6 banks to I1-.-,' ,!.� .h L Reserve Edge open internat;iond.l banking subsidiaries outside, their home branch r'��,., `-- states The Federal'Reser e:SyStem has located a office Dade;.Count'to;assis,t the Atlanta office with; financial trans. _��" .-I�I�,2� "�in Y. actions in the So. -h:. orida area . -��.;��,! ; There are.73 local banks in'bade County which together,:, :Z: a -,total of $23.8 billion:; deposits A ten year summary is `pre ,��L_� T,, �;��� ; sentea below , - I i ' , R ft Ir :.f I 4 _: ;�;i'L:, { '-, M J. a ,� : fir, 4 ,� !" �i ' ,- N: 6.:,�";, 5 7-' � W!!: .:­_ ,' � ..- -, , ,4,, r'*.'�z f i, 4�� I:,,—T ;1'i� � r�- ,�-. ,�'C-'4 ;'; 1 ,----I1. `,:I�1,,�� ;" �_*�:;-:�,:��.:��_��,� ­- ;ii �_ >�.:� . �­,.-`T�I' 1 � i� i ��d" -�`'1�!! 1Q2'72 , ,� ,,'��_-­ 'C�.� ,-� 1 —1 �,�, t'��..� _ _-i", i1��_�.�.,:, , �.. : , ,, .� , �:�1,�.-� "!,, -*,`' �� '�, .1_. ," ';,�,� . 1�I '', 2! �_�: 'L..LI ��-_7, ,,-�'�:: ___.-� �,�c, �1 '��: ",`L' ,�I­:��! __ �,. - _ �,_L ��;,� * . ,' "Li _, .- p, `�PT ��.�; ;i1��1-_., '-�-:�',::,-;;-�� �,"�i":L..,: -.­,i : i - �� ',,�� ' -`,r; �I"i im� 7 d .,. ,�i., -�i, ..�L,: .:I, �;,_­I�:- ­.t�1._ �`.: ,�, , " ,­�I .�� ,,:,.� .�',,.. ��, .. ..,. r.. t .�.� . -� - - m __1� — .. vssM age .:aw:s m j, w } - 1 - .,.., ,� .I -tI :I- II. ,:,,-,, - >. � 1 l . : � � . . �v �t t �I !� . ,:, I .:,L ,..;' %_ ��_I1 I. :t ," �"t1 ,':l ,'t�,, :,1.�1�,;. �III�:�, I-�.,� ,,'" j_ ::' � I,",�i�,-,�-A - - �' .. - - , - - . - (. �� � y' q .j,, y �q gay # y y Mr J1� yp y - G ; , I i d ��._,_ ".,�l .:I� ,-i�"'� I.,,�",T'- . : , 'ti' i a�C1 a Ah axtttt�titid llbrg' y ��9O , t 4 a1 :. l *I I',, '1�, -� : � t� um : Ait°. old , ii8`tbry aid , k �.'' i ��# A �n i .� 'I, t 6 � 11 h iri -I"l ,I.�,��1,- {fit f;''ht i t by � tint t - 6 , •� t 3 t M '- 1 inh i ��XI c it tt i a s� t t' h� '. �jI',-���,,. *' � tt i',68ibr,ih-atht�n h�ti E 6� �,� _ - yy� -yy�pp�t, pt�� , ; , 1 ''' _ Sulu r`1Gull1#. - _ ,: - , --. i ' "t l �, 41 + $1' y��,Iy� 1�,.,z y��j pnY jYj �{ /��'y�; �{ y`. yp, 'j�j{� aT� _t _ i� �4)1.GchT''yil lg� i!{��:.. tti %1.{jV.�„..4^NL t.Y1}f��'F' Cr LLLTs /'yO'��i. 1j�fL(4LYL4�'{GAjj1� ,�y,I��- 13.;��iY�act . -- - .}..�1 _� -. ., '. � A: V VI `�1{�Y L . L V/.yuy{.1�q h t �{ �,iy -, d, y. .t -��.�.-,,, ,' .i '6:. .,-.;- -��.,� Y.: *' y,�1q'�i i' 3. �.y,yryyt'h - ti l __ 1,i W L i f.. 1L i 3Vy y�l�{ sty yfyrt j�.{`yy .h� �{ jy _ �q�,g {� y� 3.y y� -- l,/ GL'Q a? ��,LG- .G_i fbt ht6: by UV th ;: C7lllGl t.0 111 �7:' WlI�� t' t „' Gl -6g i '. t� ,�, -�, J,x. '�.. : corn a:ni69: 6i tt A li n2i p -6 mg§i6nA 1z ��dnt ash , 1,, ­�'�, . . of 6� 6ts ilt �: _, , I . h6�r c1ut�iui,; EestiVla a,rid aaiia aplinr to va , i' ,,, l, A u 1 " t,i'V6Is ae f �ti�t the;' Cc�cbtlut i�u +thti g6up bhor �T,�,, `bte Acts `,tiV1t�d Ohg 8til'eatt�al :: toal� a .i �,-", !�.�1��, G66mb an' the til'.iasan66 Fait a , -­�� ki ���Q'4:�,.. ., dtib t O Tfstit­utioh5 ,_-- ': � ��,!,. ��,:��:., , ,, bl , .,:, t public- schools 'pro tideI cdu6ati6nal ci iti on . �' , Sitnrt�c s�bndaty�tes� , ,l : � � public `,school en o lment'j i`ncluc ing ` b ,th ptim ry anti II�:' ,:1i,!, -L �-�I- ;; , ecor►cl ry ;;1evels, since` 1'980 is' s 6llov�s: , :� :�,, TI:,,�:� . _ - _ I. _ - �, -, '. _ .. - '. .. .. . School Enrollment �, .��, -1 :r : iPublic School System � i, ". t,���.I:�,I., LTiI �'� ._�t a: �­91�:_ 1.1�-t;� 1T . , :Dade ".:� �l'�� I��,., :,-; ,,,' :. � ,�,,�_,County �'" ':I :"l� ,::p:. :,� �-! : , . ;Year Miami Total . ,,, ��i.,��" ,T-� �,,,i�: .�,7, . � :,- �: 19$7; ...... ..; ,: 36,994 . 244,734 , ... 8.3 3 45 236:,127 "�:l '� �,,,,".1: ,��' :t "� :19,86::..::,, , 19$5";'.:::-..... :.':. 37".093::' 227,906. .�,T i:i�: �,­,�_I ; , !. ":. , .:.. 36 ►;992 : ,. 223, 88'4' 1984 ' ,- �-:4�M:l .:. F :7, .. ,.. . 1983 °:...:`.:. ..5 394 223, 948 ' ,l­ ;, i,,� ,!1_ 1982; ..... ...,:.. 35►662 226,324' ; �:dl, i,% 1981 , .' ..'% .:'....... 36430 : 1233, 886 ,:i :- -.l ,,, 1980 35 093 226, 576 �: ::' :.:. Ft -,',�I-�,� - z,� i 'r- ,I� .�,.,. ­Ir ,i, l- "-�: � �,,, ,"1:i: ',� -.�_ .�, ,,�� �,��l � ; "�" �i�,­� , � , -.. , ;i, Source. . �i � :t.2 " E i_,: ,,,',, - , .�, "iI i: :-, ," ,�, ��, �",�, -..,.i� , I , ��,: - _ - - - - - 5 tr li ! - - ,.. - _- l . ,.. 2: -"Ii ,-I,..`'1 ,i�­- 4 -:I _i L ! .�, :'I' §," 9� .i1 - `, ., t 4 e L "�,T, �.� ,, i C 7 , ��. ,,, r i '- t j �:-: �;, ,,:�,, "I..�1t ,,,� � I:, 11,I � , ., , � i Z�z'72 �l'1 i 1-ii. Y.. , , , "n t-� ��.I -, �, �" ,, .. .--T� -,17l ; , - ' - f i � Y , i ,.F- -1-F.' �--77�---- - 1. ': ... ., S, i - .f1. - _f - . ! '. .; % , " ri , . , � I � , , : :1 , .i ,. �! " ; � . �, " - , , . �- 1 7, 1 . ,. � . , I � :. � �: , . . -,. ,. � � I �: � I . , �� . 7 � ,� � - -, -''L ; � 1 , .-� : :i­, ' . : i� ��--I �1.: ,-%,.��i-I.; ` :�:;. *:�',,..iI � I � I �, .I , 1� �! - � I ,' I ,,, �..II , : , ,I: � 11:, - : �-I - � .y� y� p"!y{ I,. - , :II .',, .��i,- i,-i �:�; ry j p] .. �({� ,p q �.y y y� ,{y �y y�, �y t� ��yg y - } .},{ �y �y �j y� y 3 g ,1-,�, ��- '; tR6 ' 'l l' l.oWilri i 1'J��.l,C :.:,Cill4 '. .I l:.,�i:.- �; V �ty�13U�1I�t ltg .1, ' Cl1,L Vlt'yG�I�Gft:y ,:,,I��I I' �' ,,,I1��. ,L-,, i:�I �I.,1 �!1'1� -4- ,, ' ;.I. ,�.� 'i� ' . ,�,� jl`.pIVCiw, ytl:�ll �.�� � .�,: , �{I yV}� �7yW,�y p. �IIr},.i -��,,_" .,,�.; . ;.� '­�l"1 I -VC L,�dl ,16i7 'I�l , 4x 'Vf%,'l:'!ll' .t ,'11L CiQ'i t.::,: -I�,. '" �'",`. �,.1 �:l: ,�-�� .,�0.. ,-.`�i iI� ._�, ,, -,'�,, , :I'. i� ", '� - � , `iofit�g ftt chat# ia� vtii fsit ' i Mtcir'i`air1 �. i'ttei�rtaiinahe',rt oli+ ali[ 1 Y: t i t 0., L -- fttuy Cei� i e i a ti{�#{ yyaqq $: i►yiq }t,Y' ,ti �ll�llla-UVCL.7,l t--„' �r,- ifr►1tPsit,. M•�atni f , � _ _ , - " �j y t�. y� y� y� g�y .�, . ,. .. _ LEi�.�t t.rt�dtl` tion n` i , �';�" I'da is: third itt tea"tibrial r` i. g �(behin Mew o,rk nA iibs 4h�gei s) and `beached_ n i� tine high :in ih 5, ; ac ortif-g to figures reloas d' by the Mate's s oti�rttetoeI MbtiZ�n- �'iC;tur�,: anc- �oieviti�if� :,>gu eau. ,bepatud1b, ,:t� 5'tste , n - i'ocai: o f.icials esti'ttiate 'that between ' 0 tb fib., 5eroet�t ;'°` r 1 of L%o'tida'.,t ti'li ,�iusit ess i condo t c1 in youth ..�''I, is /fade .. . ` anz 9: ".ja- & liti'es� ► fihe 1§ 6`' i1">tt prodtigt bn;; totals -'for 'iot.ic�a wp�e ,:'mijlion;.of �tn�oh $80 .million .was .spent' iti: ,,�jj, Greater, Miami'1 *grtioulture , ;. 1 y° Th' l '; d�:area ;bf Greater Miami includes lar,ge egricultural on which limes, aVocacloes,:mangoesf tomatoes', a- :pole ,.expanses ', beans .aregroWtri, for; the fresh produce `mar *et. , ,,-Du rng th'e sunny: F and warm 'wln, tei months, the" mild climate enables these, crops to ; `i begrown a'nd harvested. Many of the vegetables are shipped to. the northern United States :;during the winter. Exotic ;tropical fruits such, as'plaritains, lychee fruit, papaya, sugar apples.. and, persian limeis.growin"the area and cannot be grown anywhere else° in this country.. ;t ,, ` Export ,n`! ;; l More. than fifty five percent .of Florida's foreign trade,' X which according to;,._ S. Commerce Depar.tmen s 1986 rgures , ," 22' 3' bi1'lion' flows. thro totalled in excess of $ , ` ugh the ports of j ' ' Miami . .'.: -.: ' � Further stimulation in the' investment climate has -:resulted , ' from the implementation -of the 12 ye'ar Caribbean:Basin Initiative: ti program, designed to boost the economies of 27 countries of Cen , ,t,! tl,I tr, America and the Caribbean islands. The new`: law,' which; - _ grants,. duty, free entry: nto` the Ut`8,. o:f material goods produced- }i in:. the° re ion, ;as also :ex ected o brin reater 'economic stabll 9 p 9 9 ;' :,: ,t ity to ;,those countries. "a nI{L C=8 A i _ ,. k 1 -�/y A/ , !. ," r, - ii O2 / 2 'l T E f, 21 11 . t �q�.....``1. ' '.,�,,. ,.., .,.'.1. + ... .., . t .. .. ♦ t .. : �.. Y - .. ,. ...,. ,,.,. ,. ., ., .t�:.. , .. .!,. { , ...- _7- I � � .:, , , " , I r -7 1.4 .771 � 6`�'.' I 4 I . � i ; �i� , ,: .. 1 :�� - 't �ti , ", �!� . pg�"" - �,� ,,,�, t. a +tEi'­11� h' , bto eetab��eh ': .u'ti'� in 'iitit'bt9 to ei�tlit� 'i "'tr: ,b e " the 7 >torp 1 � .%ottelulatt t�Late iii:'the M trig dear !li i � tE ia,� �. iee6 i1►dltt e tii - e e tabiish"e8 by: e 9 Ufft . i f tI�'t41. t li;t�i' an i � llatel�le � i ,. fj �, -' of i�a�," . 1, �1 I; . ; ,- .fi'f . - ; 8PA'i d t;t�e ii"t i 1, . s ► li t�z} , z 1. ml�itI� tint Ait 't bid ' i t r p itat t 6d .,. , inty is the e 'f i e 3af ate ' a . p6tta wi ti h its b �t r a . Th, a s, n �b�i:it�es .,.1;1 ,t, . e a t�'l ( e et 6 ��� t"9 .ghte :- t2i the ..lade �15U A�iati ._ . p ent ► ' Im alti f,�tt'tr►at `6fai Air--brt tahkkg nth fl nati1.�r�::and J. Ii tI.t in< I i.t11�he the tad its theti�tfibet cj.', pa96eK6e`rL.s u8it; its:aeilit'iea� : It �" t ks '� h fti ttte n t�t5ti h in the :Wofl. �h the imbue Brit b t d�m�a id "eiA it "tL.Oa . 0nai Alt CAYt � . : ( „j b�lriiitj 1� aitptiit e r riees here ,ptb�ldec, tb bier ifii� 'the �. liori do t stir aril iriterriat` e�nal- s�heci�led ia9s "I i.er,s. air ,. i lin�s,aervi ,h the iiatni: rite natibtl t7�tl e iabr� d gild '` ;': r " a d X o to ebn'veni Ent .for ifti brte.ts 'aItt, utea ,I? P.. .1he �;irpb�t's 'fae%� ities irl�Yiide three " ru.11, 6 r a 7.� 000: ear ' patk n e� 1.mplek i approk' -laE. l two ;million :square feet . b ware .. acid APPIt rciX,imately ; ht�%use: 'and ,office spaeej maintenanceY�ops. 30,�_tl00 I d ic�uals A ;employed `at the airport.- 9 ` ,' 1[ri 19 p, ed 21.4.' milli©Ci passengers : and 86 the Air brt' sera ; �.. ous`yeats statistics ha I ei.1 '� b�lliori pounds of Car o. Prev„ are-esented .Ee'low• Passengers Year (000' s ) Cargo (^ d - A . ) - - �" f; _ 1986; ... 21,357 1,200►270 1. :. L985: , ..,. , 19, 8,53 1, 031, 700 1984:...'. 19�328 1,130,184 1983: ,, 19,322 1,189',526 1982' . • `... �.19, 388 1,.246,'700 t, 1981; ... 19,849 1,1Z0,009 ,; r{ i' 20 507 1,10,;800 1980 : ..'...i. I r. 1979 ..:. r19,628 1,,066,313ift , 1978 .. 16:►.501 1,026,593 �i 1977` ..;, 13;736 987.9:98 :; z, 5 j�.�' 1, I ­­' "' 'I 'I 4 * I � �. � , , � , , � . , � � � � :�!� ; - .,. i� � : .1 , . , , I H -,,, a 5ourcee. Dade Coanty Aviation Department. 1.., , 1. ; " ` :.�i , ,I r-, 11 ;t x' C 9 �! -, ;, �," 6:. ,, :r , I i t ,, �., ��.�,w,. _�...... ......._. _- -. -� ,.. , EY,C v, 11", ", ,yT�vg^s '�pg'��j{i J�,j,'(y�� -.pp� j} ST 1�i'',� spy �■y vy},'pi f. t.. .:- ,. ". - '. i;:,' -I - y�, 71�� yy�� �ty� y� y�yi j� �y �y fIt.67 Y'C�(y11 bC1C' Ji' yiyy�yy� py�y y�y �yii 1u7814sCi1LCS-C- a _� '+j ?, ',!1o/WG,i-Vt�r.l�r 11�,C1'.l Y'i i i i iY Y Y �iL1-J v,,', 4 ,�,j ! �4 ' 1 f,'0 }: p�y� p �p y�ypj�,p� ,�y /�ryryg S ''1SC1t,G�sbUl.G�iH Y i Y'Y i'Y iY' ais .'�34 O�6 �dV 1 !� 1�p' p�{y{ a r�'� t: Cli 1"�''Y,i Y'Y:.► Y ff-ii 'ii iL0,393- �. I: - , . >tiF ;.. St3u e. �9 aYtzl l0�p,'ti�9. ebsus t1 the POpL11A , An�i --, ., - H 11 i + . -, .' LLl, ing" dull § _ ,, the t8l ar * aiut � l�uil inc e,rmit "isue� 1n. the city 'aid ;.1 . N ' t non, rporated :bat e''Ct5U n ,y in ,' 19 $ i s c�1i ISI , , ati .lair Pe wit to-$Ue : fit tnincorprt�� . i mi : a C+�t�ht�+ -: ear 19 2 418 $._ N/A Q. - _-1',9O 6��`''i _i i'i i i i i-'� . Y;i i i-i.i i i i L-- .�y1,- -%'-^, 22 �.785 �'', -- $6 /CJ 6I _ '-19,8'Jiiit:'.i i'i !i ..-i..i:1i .'.:Y' 345,252 95,p55 108'4 .,�..a'ii.,,.i.i:i,.: 299 '' 9p3,05 �;941 1 198`3 ,.i.ii, 358,.67'6: -'' 659+160: :: 1982.i:�..�:.i....i.6'. .i' - ' ;'532 `'265 - �01, 676 I , . , : i _...'.....-.:.:. . h 350�054 ;', -1,020,840 198.0 .... i •''. . ... .. : "201, 667 - 96`3,144 1979 • • i ... i . i i i'. 10 64 55,482 .�,.�...• _: 1978. !: ., II,i. .:,,",-", _;' City of:Miami;'s Fi're, Rescue and,: Inspect ion Services Department ah-- Source:"'' Dade'County Department of Building and'Zoningi ut `I � ' � Vij'i, , .j - ` _ ..f I _ _ 4 „1 1 �ti, 1 i - _' _' 1 } Y ,k,' t ,_ 1 - , j :,�,�.- S } ,,, : 1 _ ti -1 - '- _ -I _. - ._ _ '_. _ rr .. -.,: - : .. _ �, _ '- .1- j C 14 �:, 3 ' "' j:: - '-, -- f --` , - ,z m., ,q. i...,,. ,.,,,,................_._.,.... __... . ­ __ � - ", !-,, � :, � :: � ,� .� ­: ,,,i,,:� ��,,,�.;�, � :� , - , , � � ��: ­ , �_, i_, , �: � �� - - - _�. �tl - L­,�� . � ­ f"'. -t � I i:, z, � , I � : � - � , t� � t ! -, : ; 1: - , . , t�, . 'I, I , ­ - , , - - , -� �,._ :, , - � , , ,,.,, ," :�, *� `1 ,..-,...,-,,, , � :, , ,:- I iv i b h b 7: h,: I , �g b��' k4 h o.:t,, - AfjttrM tI6flt I I I tId011 ,;�.., �§ILJ1at :. D.t.1 - L . , j1.;. , " ` I 6 s,; : .II , j j Zi t 1I, , -6� 6- � � �-, ,I :�I ;iti �&;4i,,t c,4,1Ii 10 9 t O8 I # I 4 4 4 i,- 6,i ,� �, i ,I.I 4 t * i 8 3, I�I I , , I �I 9882i� �- i-& 4 6�.%&4'a �6 1T 3p,884-:�I 6 , � t i 1I i 46 , ",-4,s:4� i�1 2IfI�� , ., -,. I , . I i " .., '1. 6b i i.66b,iJW j 6 ,. * . I1,II. ', 6 4 I ,. , , , t0tvI I bepAfhd�� nd .� . 6urcob ire fescue andIbgpect10n [6ItY0f mI I S .rand: ftu. ijahg,'. 't zofitn961- !'. t �a-1 I , tn'b bdt C(imty0 A , �I . , " .. ';. i :" , - ! ,- :., '.; , i Y'' � ,- , , , C �o f . , ,- , I; it ?IX **I_ 1�. ,4 5, , ,. . � �. .I 7.t z !,,1 � ; T,, , ; `I�. , , - , .- i ­- ,JI�j��Im�,,PA-,�,Z.��"1 , , IN1, .-- I..j I 1ti jS 13;) !- Ii ­•- � I. , t jr i ; , * jC_15 , . - t �. , S,),`,`, i,.,� - -, . � ""f' 't' I' � ' "I )­ ,- , , �, �� - � ". , ", ",,, .- � , , . i 1,4, I I � . I . . �­ `­ . - - . - ., , �.. 1� ,� ;. �:�,t", :�� . " : � ,� ,�� ��, � , :,� � I ,!; , -. -�.:t � � ,:, : :� � � I , � ,., , � - ! .,,,: : �,, � �� ,� ,,,:��: � � �, , , , �, * - * , , - , , , � '" ,.,* , , � I I � 11 IL 11 I I I - - - I - - , , . __ `___ - .. I - - .. - 11 ­ - I I �111111 I. � -1 I 11 �111_ ". "I ` ` 'I. -1 I � - . , , I 1.' - - � , � , � ., ; ,� : ; :LL ;.,,, j �, � - ;I,:1 t , ,..,?, .,.�, �,, �,: �� ;. �; � ,,,.. � , ':�:� - - - � � , �:�� I 7 - � _". � � ­.: � .. ,. , , ` , , , _�,,, , �� L' . I q , - I I I I 1 .4 I, I t I I � . - ,,,", ,,,,� . , � 1 , ., �� ! � I � , ,.�, , . ": - I , ,! ,��. , , � , � �: �� ,: 1. � a � - I � - I . . , F � , . ,,� - :4 ':: I , ��_ �­ � t:,: 4; (.,:.!i ,;,. :; ., , ,. , � . ,. . Q*,i,,� "I �! � . ,� tI, 1w, .1M,I*, , � , , � ! � -, - � �,.A,�: �,,.,�,--,!��,�,��'ii""I-',,��� �,jiwxi; ,Mitv. , � , : , : 1-i , ,� � �: , i � - � �!i , , . , "I j I " - , , , . 1�1 � �11; t I 777- � _­ 1- . , I � 1 4' 1 j�; rI j��� bit I� , Id - � WOIA- l�k mT t .,:e,� !' 1� Al­..t .his agt6pbt Agt.6 �-tN6d b I .- 19 7, by �i�d �dtwd6i THt �T AN1 ,& FaItl1ti i`bu i 1soon,f t he Mate :6fz16tIaA 't,; the 496ubI -,abd:, _ � �. 'Vlbrii_;_A 0hM6t ciA-bAh : 11_VibC_ttueft pbwrtOra 1 �, ghend.6i8tjhgUhdett itI44 6t A1-6AnSited tit49 _6A ,l1 , etiban hAV,i,h ' its 6ffi6b in wili_il.ftb,auti6s Iereuncet Are to:lbPei bJ�h6, f� 1oI,1d_al a.s ttusteand bctow-- qoht(,the;IV dtOIAcitht!-') �: I .; � , WI'r NE88EI ;, ' -: ,- ;; , E,A tse t 8iI r 6 8 p uL '­ W.,;H�,��1't, t::I�--lz1V1i l. e�_�-�v tI e, r� :liars I­l,;. A'issued ut'.L­ �.I ,It.'I�-;�,--;t� h,re2I�L,� !I, tij�t . ?i�61rev6ti6hali8 kestde ,aCYitIertbn� i t , , wl�itil $ih Ag rdcit6principal atn'ount tknibuts : btAhd.Ihcj,I tS . P'O .Ice <Headquarte�Sand. 6rIme preventi bh '-s.:_ Each `t6;tbhd: .E,whiCi� In.'aq rpcj4te:princpal - atouht;- em.ain,� oUtian incqttStorm bewer ,Improvement I B6nds" Oi Which $inaq4teq4te,tipa �amount :� Irin ,:remain ,: 6ut6tandin itsSdnit�r—S1wet� , I ,tbm toso �-J�y y. -��t: Wiiic$ in aggregate Pri ciipmpufttremain ,! at'an, ihq and is Street :and 4i'g i Iraptovemeh , onat'0f­' -�. - id $ a atIqbeq4t - out"principal iIamoul remaIn ' standing, allfWhichwere datedApr11I, 1985 - l_. (j��IIectiV�e ] [: tJ��portion .;thp'ieof. 'heteinafter ; futtl16r �1 describe ­beincl:referred:' t6;i� hereasthe : !i�efuh ed .�1 'l ,j t� t63id8 At1"an,� _ .T :i WHEREAS, len i"nJ'. a.iv.:,­o'.ir�,��­11­.I o the, a nd6,,.,d E4§"t"_,.,Ih e� RI.'Z,'ef',!u i --� : Bondsand the covenants.' bf-the ,!Tssue rwith rospectt2lereto l,.lL. ­may?b6- t6feasd`,byirrevoca2�ly -depositing ,Ih .'trust.moneys- in '-:, �- an�:amountLWhich1toqeth6r:with -investment "earnings thereen, .�. ,* ­, W3, be,sufficient: o pay'tne-princip of, interest_ on,and I: �. redemption'premluns/ifany; with respect`t&�,t e Refuhded ' � Bonds1,as the ,, same mature or ";are :'called Ior-reePtion_,as . L _7cr�- II:­ herin provided; and ,- , ­Wktktks,in order'todeposit ,su c�h a'm.F;o�u_." nt, 6 � _ ­ -t.1,' ":has 1v"-,_ k.1.m��6`.-��',-h ,j,in, _trus $ an forother, :purposes, the issuer., auor e'.d,' i �. jandissued $ inaggregatq_;-princlal amount of,The �. 'o �' 1-qity ofMiamilFlorida, en­eral',lObli9aton1Refunding­,­,lBonaSP 4"'. ,. I L-,aI:, series187 (t �"Refunding:,Bonds"),- and' , ! , . S:,.I,t­6�,.�,. ! � po!. Hproceeds roce6dsderived W� Ek,., l,,.,� :o8,1_,.,,I, I rie c m i:_ , �.'� � !� thesale ,the undin9Bo#dS�: Wl �D� ap�fi6aicaetrt1. 6 r " - iMinditedtly�­ �- . - . "­:tAi:. - ,�eteirequ1r lI t.th6rp r haOf .certain ,!, ,�.,_ . 1 1:r--'.t_l--, �- ._E1':R %o the United States �aI -he l;Xe;tobligations Ametic, ' ,'. principal`of,V i6h'together; withinvestmentearnings �1 , � ";,: ,- !T-� , ,� ' I ,,- -r-,,. - , ­ 1 ,.- ----,-­-�I�, � '1� ,, � :... -.., — - — " , , -, , ,,�7 �j�tll - ,tt - ...... , t*l: � , , � ,;, , I , . , � �,fl lf� � � I I � 'li�' �tt` i­ �.jz " :":-. - f� � , �t_ 'lt�­ , -, 1, -- -; 1�'I% t - ri:� ;:� -� ,I -1 .. _­ � ,4t,� - 1: _l_`,�tt, ` , , I e ,__�,­ ,!- ,­, .:" , - - I . ,. ; . l:�_ - I I I I , � I _` I '. t . , ; ; , ,�,'� ;� � , �­ - �1 . .1 . . , '. , , , ;� ­_ � .* I � . I : ';� , - .l , � � - �;t �;:�]� � , . _t'_ , " ": _ ,:" _ ., 1, ,. , . t-I . ,� ,.: � I - ; � I : :� . . .-Il, - - I _,� - '' - , i I I - ­­, � I . I .. .1 ; L , , , , � �. � , , .1t­ � - - .. 7—1 , - 0 ,., ­,,'�,�-`I,t : . _ -� „_(I ,� -1 .: :, ,., .. ',1. „,. . lle tbt' 'lie 6Se Aet< hey �b t iI sett cably �iasti�i t , :t t _," eW to tit tlt the aatte -fN•a ' `'tiit acidiae isc1 oGt:4cJefit atjiees tiaasfe taf'ti�ads p ;gent that Bali Clled b otlaea snail meal ' : tl�e'; CUB-� d I sta l . 1 ii" at,I ecl6M ,3pll Rdfith, - tl1C', E?'�t'' aha4 t�atil 1t"y, lth , i s i issue , h i�b61;:' %', -adseiiig redeemed. Thal l ieimbd sei :the �ya1Yg A,g tat fci3 its `11e s.stie l�:;t i] . 4, b,. .4: $3tpeilses -ill- c6nnecti611 WitI . 11: ' ii-ci I 6tit �? , Cj f 1. C t, 'liti ll: Lt phb1,is ti it of: 'sttdii nat ce ' publicatltih of N6 ice isf befaas�t�ce> The ICON,1 i s bttt an ac�el i .scl ohs' �1c ent slagll,: as+'sot�ta lle, eaftda� Sasa:ft. orp �eY of 'the 3�f ",AnyI.'dent Within tl1il ty t o,p t.iie natlee :.attaciYed'; hereto ; `I R21.ellaiici�ric '1 odds, t;sUse :a oti1. be publi ailed one `the . tLIsxiibi t.w� : to atoti117pILIIablislieci1in ile�t'spapef` of netiol�al ci'cui„ ..and a tit o, Newotk, .riIl. o£, 33oiot1;g11 0£ ' I�1a11hatt�n" City of Newpik, Miami; - The enei'al Ciz Cu'latoll in ;.C3ty, nevispez° of �J. f a I st` c1a$s postage piiepaid ta' ; Mal led, Florida, :°a1­1nd .: to , be s of the i, ... iedo $heasegistra'r d t�, t21e ec i ete .ed owtaei :I. " f t71e reg�st. ation books -cl ess_es do `1 i2e£utided Bands - `. _: _:. j ''ART I C;LE III #: ` ` CONCERNING THE ESCROW AGENT ;;_. n ,, I �g I t Ol App ointment of Escrow Agent The tsstter J `` SECTION .3 . g - hereby appo�iits --��. " as Escrow Agent_ urldel this P.c�reemellt : ;Florida, ..andfoi �eim- >, _'; s I ; , a ment,' Agent 'shall be entitled' top Y rendered , The Escrow . its;'seivices bursement foi seasonable fees and' foz al1d ot]ier eXp_enses fees,: ` iieieulade"i aiid a1L advances, counsel a21e Escl ow of "ancuz red . by ,. N made Leas'onably and necessarily hoW- :such.: see vices I_il no , event, ; % :lien', secul lt,y sn- '' Agent iii' co;e section With the EscL ow:' Ag ent have :ally f, 1', 1. ever, shall:' y : : terest or xight of setoff. whatsoever qs°t :Tiustf Fuhd for hs e Dep or Investments` ;' 11' the ,:: scLow s. . :its duties hez,eundel payment ,of c:ompensat�on ,for ;' CTION 3 02 Acceptance by Escrow Agent By eXeCu- duties .r: a a SE ent:.aGce is t-., : tion of tlls Agi:eelnelt, the Escz ow Ag. P EsczoH► Agent hey euli- and llel eby ;, and obis„gallons as ',,r;-, i' is — —;!— iii" I — �' 11 — �H 4, Y -- — '" '!� - - ! - - 'I �. _tE III 'cCirlk ��i �tiosf tt�t� ��I#t the ksct�ow� - Acjeiit at t}fie t'i e', 161 i g" 1z'�)�eitn� a l' ttla� 'at �tiy tiiiie iesitI . i�d be `di e6h, :'3 ged fi din the ' gt s'` �Yel ebb e t`ad try e � t t� � n�5t :ides °tn fi1. s� sty c6t d e" of it en otr e to the i sailer . f. a b tlbiis�iifltj iaotice theileo ejiecify,i �j tie Clete bJ2ief1 : p ;U; util .reei.c�t at otl �i: te7ke::effect, ':at 1. once Y3 I t 1 e5s: 1�1,{ t)lai� sit ('i) d`a5 bet�`e Sc�i:es i4jYi�t'it�.tis,. toa}a e ' feet .iti a i�et�spape ,i:31ted )'�, `:t ie f�glisl 1a c}tiac e :` etld:: of .:; ge35e a, oir�dttl ti'ot� i� the xty,'t f Miami.; I±lo ida; btlt 310 ,. su i :res�gnatiotz shall taste unless A:.sticsessn� EsCfow , a 1.e£kect Agent : aliall 1ta�t been 'appointed by the holders of:' the e uncied :�ohds or `by stye tsstte as lze�o 4iafter pro+�ided , :atYd,, such: sttccesso: scf:oi Agent, s11a 1 fi°ave accepted 'sulllicli'ap� oiiitnient; rri;'t�hich e t nt such resi�fia , , I aliali tape e feCt ifnfite11 di atelY upon tie appointment aiyd aooeptat�e ,of a` suces� ;. sot Esc bW Agent, a31a the transfef�1. ;.to Stich attccessoi t - :, �t , Ac ei-it{; of ` the ttrids:.' and :.accounts held by' tlZe"'Esc ow Ac�erit I_: { g h ,I eund1:7ei to , th With an acc'ottritin tlyeteof : `;'. , 1 ACT ION �,06Y - t��mov�l of �f croW Agentk LI:t a The .EecibGi A ent ;;ma be removed at' an time 'if`; ( )L. Y - ;:11 m I: , thel Holders of a trim orit in .ac�gtegate" _itiYps'1 amotitit of :: Y p __ :; the _Refunded.; Bonds then: outstandij £�1e a zequest oi'` -F° k removal ,Yn writing Ithe rsuer , but the E,s1.ci o.w Agent . _11Stith 'I shall' remain, in o'ffide uritxl the appoiiztmeit and takan1.g. b£ ; ., . face 'of a: successor Escf ow Agent � in accof. rdaric.e , iith11 ":' the - provi'sions of thus Agi eement A copi ;of such equest shall dei",''ed:by the Issuer to the Escrow Agent ,:lj�be „ !.. ?` - , (b)I. The : IEsciow Agent may be ;iemoved by the Issuer ' _ at any time for any breach'of bust or £or any violation Hof,:: u jII this,',. Agreement, but suc1. h :':removal .shall' not":be effective. un F '� t.rl the appointment and taking office of a` successo1. r,_, Escrow ,': Agent in accor ance with the p ovi'sions,.of this°;Agreement j , f ; (c ) The - E sc'i ow ;,Agent may also be removed at' any, ,., time for any breach of trust o'r for,- any; lyiolation rof this.; �i" A'greement bys.,.a court of "c'ompetent..=-�urilsdi tion upon the': ap, ,; ;; paicatYon;of the lioI.lde,is o:f not less than five `percent (5%): in aggz egate ' pr lncipal I. ,amou1.nt of 'tlie Feftinded Bonds .then I outstanding - (d) The " ESci ow Agent shall be deemed ., to liaise :been ; �! , removed if it.is dissolved; becomes incapable of exercising such powers or Iss .,taken over by any gov,ernmenta'i' actlotl ' _ .__ , � _ _ -_ -.- 1. iim _ Y: " 3 I V _ 1- h _( + - _ 1, 1 t �1, 1 ` 1 t �2'72 II + ". _ . , , __ _- -- k { , ` - ,�:...1"':' ''. , :�i; :�i, I � I I _::W�.­ - - '! - i: �­'i ­- — � - �Fi::,:�--,�!:�_-7. � ,.�,.,!'��,". 9 i. r .. :.. - _ _ - .: „' .. - ( ) Whini. tl'e ptis tiziii of', the :l,jscrtow Ai4oih't becoffds I 1.of i s "al�btlt to' hecmeacat�t, tae. ssttet sfial L' ap?c�ityt a l s� `o ltjent' to £'i] l sUdli �1 aYicy ; : io " ss�iez slYal l ptibl sl1 ' : tiotIG� i. o� "$�iG1.l�' o ilttYleh OI�Ce', a w,eele' f:02 - t1+%�7 p (,) ., SLiCC�'� a ,, sive �I - �n a t et�spaper:"' of . fit�and al: �otirt al' of ftat,i'onai : e,� i` ,b :,C tloli p t'�l idl ed itf . l`le+� e. 1 , , fltew Ybik. ;t; -. . , ". 11.i.I'L �_ �;b) ff toopoihttnetZt o .atrcce'soY. :lJscroW AcetYt s` sha�'1 . be ttiade pui stYatyt 'to the poi ecb� ncj `p� o�tis� crt�i'T of tlt� s : - ,. S ct1oY9, the hblde��,: - o airy ,ettfilded 13ot�d .•t1�en otit'stat7c�it�g s ttiay, o.i , atZyso3xoW Agtit' i catl t :tag o' IJi`ncmedeht ;'a =' ' dice sha11, apply tb any court bf .tompetetit uz' sdittioi to ::11 ppdatzt a °'sticcessdt lill", I� , I.,o41 is .nt Upbti, the cie osit , ,b p y .the ', it3i1'Y1gscY'd agent `of ali ftitels 'and .sectir.ites 1�eld by �t uY de__ the prowi s 6ns, her eb int tlae i egY str.y of . such �otY1 t=� ,' - stick `,'Esc ,oc� ;Agent elZa ""'1.., be":iel.i'eveci'.of 'ali :' , ,lr:'e di:ities ": ,11 ,11 -. :. , r ,I�r,. .; hereittider:- . , . „ ... `_ -, I , . ­ :;�i ,"� , , �� �'," , SECTI!�IJ `.d$� Rpeipt off. Pt4�6eedings l.ece,ipt o£ txLie " ii, � , ,., , , F: � . . - aticl correct copies r.of the pY oaeedincs etitjlotZziig the s� r: nuance of the Refunded Bonds are li- eby, aC"knowL;edged � by .the :_ ;; Escrot Agent, and teferetice lier:e1n -`to or Citation herein of ,, any provision„ of :: said documeizts':'sham be 'deemed to inCoi poi ate, the same as 'a part thereof 'in' t'he same maniiet :`:and .- Sri th t1e s'attie r'effedt a if`:they' wei;e frilly set fort}i" IiereiYi 11]- ,. ARTICLE IV 1 MISCELLANEOUS ; 4 1 SECTION 4 01 Amendments to this Agreement Tl�s Agieement.ismade for the b'ene£it-.of the Issuer -and the ,' holders from time to time of the Refunded Bonds 'and it slim l ,,i not be. repealed, ievok:ed, alter:"ed or::.ameYided without ahe " written conseiit of ali' such holders, ,tie"Escrow Agent;'and fl'! the Issuer, provided, the Issuer and the .howeyer,''that Escrow; Agent may, w� tlzout then consent of", ox.: Y�ot'ice r':to, .such;, ': r holders enter into such agreements supplemerYtal to this ,:, Agreement as,`,. shall not adversely "affect ,the iichts",,o£ such `' `, hglder and as ;shall."not be,, inconsi,steiit Wlt2i,. the terms : and provI,sions." of`. this Age eeinent, for airy one oY . more of '-'the ' folly ng `purp'oses (a) to cure anX ambiguity ,aY formal defect or om,1s5ion i•Y this A"gY Bement, ,= , ' f i 3 _ 1 --,, A 1, i- f v rD; "i :1 r ,1 - i�J2. (, 2 _ It t ; h 1 r{., ,.,, .. ... !. !:r .. ,.. .�.?,': ,..:.i .. ,. �':,l -�.. .1. . .... r..l 1 -- ...l.r ... r .,,.- ... .(., -_r '!1 .., _-� r. .I ..,,- t ..r_,._. 1 .... tt f ' i - .! �. , i, I li'icjep'efldefit del tifled ptili:lac accbtfitatYc iafn acceptable,; to t , the tsct6W Alt'lit t6fioett�linc , tiye ac-let�uety . ptiol� ;`'slit s 1, u, : sotii ltiel3 wi-th- i;espeet te7,.,511i'1pa1,'. aftd t1i'e ihtei'eSt' ' tht t6lt arts) afivotliet i�toiieyS car. sco;t�i sties h�1d fo.z , _6 .1 „ .— piii^pos try meet the pt°iticipal,`. acid 'antetssl �t}ieil due of the : l e u 11 - �3�si�ds as eoz temp aced .bar tie' sc. I ,d I l es here a; I ai, ( 2.1 A 6p,'h yti , ftof 1. 0iid Cotzflse: to: the 'Isstiiei .o tli0 effect , t)lat the dispo`sit aii afld stikist ttit1bil o�, ptttch�se of suc)i `regal sectir ti a`, wi 11 i�c5t, 111 e'r t11 t:atLztes, ,i ale ; aiid ai ti:03is.;then":`h:, biC_@ a3It applicable to i�k)1 4ati,6ils ISSU d:°; on . ,:. - tie mate '. of issuance.. of the Refttticliri .Bozlds, _oause'::the: ins . . tetest oft. sucI1 k6ftitidxl' 5dnds riot to lie e�tcludLd fi`.citri c t`oss :"` - - ihd:otiie' for: fedaral ;.iiYcome tak ptitposes ,! - - 4n� _ ! �.— .. .. .., If ` a:. Schedu, .e "Cl, has beeiz attaelied �ietetn at the t ime t�f ekectltioii lief eof , : then ': t11e Go�ret ilmetlt; s�bl,i,gat.ioris =: described _ in Sc}zedile 'rAr' hereto (tla'e 'iC}Iec7ttle "A'r eoti itYes�r Dave beeli,'prdvade'dto the T,ssuel by the sups-' , pl Ie, , tliei~eof (the It18a"ppI ekijI ) .`par si$ ant .,-to an at i eemerlt that - , (i) t1le Supply et may at„ any. take Lequest tlye stibstatutiotl o£ :,: the Dove {nment Olila`gat1ozis listud 3 nSchea rle ".C" ('tlie '�''Scl eutlle ►'C�' .' Seeur�ties!') .. fot:'. tlie. Sclledtzle 'rA"r.. 5ecuti taes ,. Without cost .. or ,',q tx , , = td . ;, eit! e6 petty aiid , ,_(aa) he A Supplier :s entatled 'to amounts teceiwed on the Scliedtile ,f _it, _ Securities, in:; e�t`cess; of",., t}ze' amounts .:.that �tottld limeieen ,, ,.: . received on the Schedule "C" Sectitities, to,:'.t}ie .extent not needed to- pa,y principal and i`izterest on the Refunded Bo ,: a,t the tune and the raannei cbntemp1lated °_by the, "terms- of this ., E:scroV AgI Bement , ;: I f Sch'ecltil.e 'r C" i s", attached. he i:eto , ::,the ,: _' Escrola Agent' 'slZall'; have z ec_eivecl at :the ., time of execd)ta. n ;; ­�".:�7 r: hereof a ,_'vex ificat.iozi of the type descrbed`;in a:lause (1',) of the recedin aia ra li of .this sec tion..as,,tothe cash ,flow.,; p.. g P g p ;; y theJ securities descz-ibed:. in both 'Sclzedtile, "A" s.iffi:ciezic of ' arld "C "' I£ ".Schedule "C" _has been . attached finder '�>. ,.Schedule such circumstances,:the Eserow,Agezt shall upon": -receipt of a K sr Written Request of the ::Issuer (i) Bold' :amouzits received : on '. ;,:< ,, . a t the " " .< uL aties on a d e earl::er than .:such :' Schedule'. A -Sec - ,� a', r amounts would; have been j re..eiVed :on the Schedule;:. "C" �`- vj;: Securities unarzvested until' the ;: dates t11e coxrespondizag -;; amounts would' have been._1:eceaved on such Schedule,"C" :.; ' Securities, oi, 'if appxoVed by air: opirzian°=of Bond Counsel, " ., g. inv6st-sucvamounts­in,I4other ;legally'' perziiissble ',anvest i ;,, menu; iiicltiding,: but:. not `limited .- SLGS with coupons of ,;` 0: Of to matu on,dates t1� corLesp,ond ng amounts would have;` T..; been recezve'd on stick Schedu'1e , , ,: Becht hies, 1 and' >' + s (:1Y) shall deliver to .the SupplxeL amounts .received'; on the"' " `; is i,i n -+� Schedule A Secu'Y ties ii, excess ;of the amounts that would i s: ' have been ;' received:, on the .Schedule Secixi sties, to ,the : ' k; ,"C" ". extent Iiot 2leeded t'o pay pr.zlclpal of and interest OI1'. the k', Refunded: Bozids at :.the � me_s an an 'tlze ,:; manner contemplated F �:. �. I' " '' by, pz ov' ded, . however, that the Escl ow ,Agent :.shall be'" t _ ;n rf -.; „t Ii ;,- i:V .i,-; h i x i .' - i i IeY- '� .�t.,•:. ,— ll ... .i: ', .'., .? .. '. -. ... .: . - r.+ ...,.. 1, �_- ..t i ;, ....-.. _ .. .. ... r.ej, �e : ..:, -u .,, .. .. ..i .. _... It . „r.... .�. i. 1r..... i�.. .i Ij' .. .. - - 'r:: 1. .,, .., ' , :"' ,'. - - - - - -- eyititled t:c� igtie.tb£1ttttiC7f1 £icm t}1e fssu:: of d�ttoti#ltta ':.'' , t'�ie i#rested :pUf sli'aht to clat#ee . (� )' 6f this SezYtefice a#ic1 . A ihts to be deb i'Vete'r� to.' the " SLi'pp] ei piz# seta#it.: tti , elattse' `i j i f t'I'' setI.itetsce �n adds 1.ioii, : if ''the Sizp ii ie, ; a its #°e ' t� the e, 'c� °A ei� pos8— , of } brsok e't�tl o at�d ,- ie t:. tit e .ILLto . 1, or a putt cif tie Scheddib ''Off ecttt ides `.. �f Aff a fi1. atitbsi tt#titi6 a 11 of a part of the Sc�iedLtl'e 5;ectii~itie1.s, tie: sci-cf t A eiit ,s1i�Ll p� ompt deliVe toIT L the ': S'lt9p:iet :��� O't:h tf�ttiiie'd pot ti`ni1 1£ tht'�1e(iLtle:,,,wAff il L� it Le,:,po' t�oti of , S iia e-:.change for all of the rei ua ze : W. the S lieclule � L � Seca : ties witjlout z{ecsard'-:, tb tie _ tin ket t V ltte,` th eof at tlye t o of stibstitutfoili '. . ded ;,that the cbadi;tiotis set fot'tli Uzi Se25edul.eIt,f�'f�ei e tb . _sltali L et ; be s'atisfiedfiited'iati tipt�3i ;a sLtk�st�ttttion of all sec.tiiz� _ ties: bii Shcieritile �i�f' fot .. 11 secttrrt�es oti Sehediile ,rf�� u ''1 5chedtille<'ff�,ii shal'1 be sLtbtatltt#tea if1, : SChE'C�L#1e rr�lt; f�r �. I '�titf: purp+ses' `hereof I f ` ozyly' fat t : nf;. the 'SchI.edule., "A" ffAff, l` be ecui.it�es a :1- s,�is ituted, a, beta Sche8ttl Will pz e1 .. pai ed by . t�ie..ve1 ifier. desc'ribetl iti Sc2iet3ule.` f'b,r ai1d` follow _ "A'f s .iYj! iig .such 'stiibstitiltion; .:; shall becottie;' Schedule £a'r.,: a11: v ,` ,' ;. purposes : 2lereof y" Yf securYt�es ate substituted ptilsuaiZt .' to tlii s.` ect�:dit'gi�p the manzez contemplated �n , the agraplhanan� sut' ltrs moneys resin _L t fzciitl tlZe,, - t ece -. p ` , sale.;' tiarisf.er, other d�sposYtioti or:' re,dempt�ozl- of ;.` t#Ze'' GoVerzlmerit Obligations held: lien. e'und`et ,and ;the substitu.t'iT�Lons. r,, therefor of direct obllgatiaz11 is of the United 5'tates of i:,z America, sIA be released £rom ;the TI_ust Estate `and sh1.all _hall 'ill, be tratZsfeiied to ;the1. Issuer �oz the payment principal of �: 1.of and i1.nte.rest., on: t11 he,;i2efunc3ing Bonds £ any refunding: Bonds remain otztsfaizding at such time, acid if iZo such f2eftinding` 7 Bond=s ,.remain outsta idxng.- fo> ;any ;lawful purpose autl�ai i ed' by t he opinion of Bond Counsel'. —� ' ,f The .'' Issuer covenant that Zt will not .' request any, °° substi;tutioia" "of Government' Oblagat;ions, nor; will it consent , _ -I l­ to «ny other.: aznaridment of this Agreement, _d as a `iesult of ' such_'.,subs;tittition oz amezidment;, interest on the Refunding Bonds might :become .: to :' fedei al: 'lncoine tax or the :,'L_ ' ,subject ' defeasazice o'f the Refunded :: Bonds would be adverse y ��.��I.: r' N affected :.. .�.� SECTION '4 03.: Notices A iy ziotic'e, demand, diiec V tion requests or: otllex iiYstrument:s authorized of Lequired „` by : : Agreement to be 'cJiven shall .be deemed suffzcl,en. y —� _"this ga ven on :the day' sent by , .Leg stet ed maa l ; , retuz zi z ecea pt Y+ ' __ ;requested, addz es_sed as follows ' - r t � , ! �� : �'j;�.` _"",�� L ,_' - , , :, .- , L, , , ...... � M, - , ., . , - , 102lli , ]i n _. _.T. ..,. -. ;41.` - , ..- `l ��",.,.i,--!Ii� ".���' -,,-`_: �. i; - -` :. _ _ - - _ - �, s� ,.t.. _ - _ '. , ., �� -�*�,.�! _ .. _ ,; antitled `to`eetietbillatioiY flbfft thessttsr ref amt5iiito `: to 3e i }osl=,ec tttsU nt . to clattr;e: (1 )' of lriz ; :seiat tYc, e atI of alYiciuiit to >bs delieijed to the Supplerulsuaiyt tcs o'latla (3i> r f this 'soijttijce, - Ii1,.addition; if .:tfie tip iA � tYtdelYs lti t11 escrow Acsirt �iosesion by boolx etttiy, o and � �_�,-,%,�:� 1eatti=t1 toil o i i t o e S f t�dti.� e �'G�� cttY�3 i- , rtAii i i s't bst tut, , A'l l o� a, t If t11e .- Sc . e,clttls _. .f; ostti=' tioa, lie 4dr6 �,c�oi-V shaI1 Ptbmt tl delivo to. thr tlye Sohac3ttls iy rr 5` 8U 1 61, old cit .t ie ie u� i`ed poi t oti o£ t. ect1 iti I ,, iri Rdil-ice o 'all oi° tie required —poi t1b 1 of the �hedtlle _ _ I" 5`ettt,IAtiet w3 tltc ttt_ z ec and .: tb .: tl►e; ter L ket': ; ^' " , .; tllei'eof ,at . the ti ' 0 : of sttbsti ttitiOnI provided :first', tlYe: .alu coriditi otis set £c�;th a'11 Scliedu] e "tj" lzet eto;. sail et, be satisfied: rji m6diately tt�oiz' a sttbstitLttlori of all 'sec'ttz i� ties t�tY schedule ' "Ci'. foie all ,;; seC r'li s an ohedUle i'H, " 3 - ,. chedtt. I shall be sU�stl,ttiteci for' Scltsdule "H�' foi' all ;., purpo Es ''lei eof 'f oii"l r ;pai_t., d ti,e Schedule. �� ��, i, 5eCUbitl s ire sLil�st auto; a' neW Schedule "Ar' . WI 11 be ,p� e a psi`ed by the vef ifs er :descr ed ii:' 8' 'h' l,le r'D" .aid,: follow , _`: ing sticli stibstittyticn, shall become Sclleduie "Arr fo all _: , s "�,",—, purposes llei eof ;. £ secUritles ai'eubstltuted .pttzsu nt to ,:this, ''t Section'. ,02 othe tli, in the manner coiztethplAted : 1n ' the" "_,_.i-�4� pi'eceding paragrapli� :; and: sUrpltts imotieys resulting £Lm the' sale., ti ansfer; othez di sposltloti or n edemtiai� . of ' the; Government 0 11gat1onS Held: lzei eunde2..: and „_the substitution ` ' therefor ;of dii e:ct obliga -ions , -he United �.tatI of '",': ;jI� 'Atiter ca;. shall "be released, nosh tlze'Ti. st Estate, and shall° of ' . be ti^arisfen red to the ;Issuer for tie payment of; principal` and interesf' ` ort. the',Refund1h -Bon' E if afiy Refunding ,bonds ;.remain outstandI at - such titrie, and i`f no such Fefiitzdlnic lawful purpose aixthoi 1`ed ; Bonds r,emaii outstandin�yt fo.r; a7�y' by the opinion of;; L o Cotinseli, -, :: - .- . --. -., :- .,, The Issuer ,covenants that it w1`11 not request any � i ,-"�, substitution of Government Obligations:; nor W3. it: tonsentI , ,���i,,f to ­any other amendment of this Agreement, 1fas a result of'' _' _such;. substitution', of amendment, liiterest on the Refuizdlric� ` Bonds might become. subject, to;'fedeLal:.income t°ax of the ,"r-`" �� :.,a,,i�i defe:asanceof the Refunded: Bonds would be adversely 14 a :affected ,'":,L, — M1 i -, SECTION `4 03. Notices ' Any notice, demGtl;-. , di =., tion`' re: nests or other; iizstrumeiits autlzor,ized of re�-urred q 1 ' by 'this' Agreement a;o be given shall 'be deemed stuff1cl°entry ;given on:> the `day '.sent by <' registered mall ; return n ecelpi y r requested, addressed as follows f, .. ,, s . :1:...,� -�I R d �, 17 1 02'7 i. 'i ` , 03 r -, , - I ­ .: � ' ' . � " , :� ' " - _� . :. I � � I 1" � -' �' *- , , , - � , ��:, iNi�fi11 WH f 00, :11� ie ei i d the s ioW -, e t a �lu�YP t� this A44 `aM�t011 as of t��e �:�w_ d - :ttitbd f I i _� -'Y , Ntl�A i`Hi"y N� A 1,L ., t City M1iae (5 AL, . Attest6d ali t Utite,r�igi ed .. i, - . . . GYt�t Clef�k I .- . Aprotted es to "om:1.atzc . . ' Co'r,reCtnes $ j�. ,_ Ludo A' ::Dougherty - ;'. :. Cit°'. Attorney, Attested . , I: By' ,. :..- . ...., L. :. C1eik ,, 1 -; AgeYit _. Florida, a�.Esci..oW it �t 1.By - ` - :� -! Authorized .Officer 'I (SEAL) _ Y ,t�' 1I. �S i.,> 1 I - I '.1 -I - i L Vi S 3 IS -.' m - I -, - f a: �� , . II - 1 I ' 7 _% - : ` �! _ 2'73$7O005eda 1`l3 (- , 11 02, ��*': "1;4 .. -� gm ! . ll i� ,.,:': - - - 1 to - - 11 . . .. -- .. � . - .:' ., '. .. - „ got t b ac�tra ;f�� f�c�ia ft�y £eele�1,�� .) MI. ;;: Si cAl-,ti ty.c yaftge obs - tits i1 �;ti h o (�) I -Ill A Secttfl i'6sO1' '3i o-', t�lE' aft`. ��f�-,-5ci�tttil� el�eelttle . "Cr' Se ti it es ,yt5t� sI1a11 f�.i st f'e4c0- Ve h ihdepen - send ttt :� i�1.t., e f e_tj6h by , 18 , a1 : + co t ad atic3e 1, s t „ Yti i ,: t U1i�„ I d�c�itt ti icy fitt � acce�t'af�1 o r - , 1 i I. It,'.ti i�l�: _ rr�rr f e 1 tii c srxch substittitioli atici £��t a W clie �bvclig: v�iidt''lon bf tip s>ifflietic bf, the ;aslj f1aW t t a'g2 r'i �1 etl1.t+ to l tad ] li c1'altse;, ( , ,j of t21E' f1.3 p'c 'tire scfoW Aq eein �l ; :.tc�c et er. Wltli ate Bpi 4 e t�oi =b .r5£ : ;ib 't�f Cott 15e1 c £the t e deed;flied . i� c�a�ase ( ,.)- off; t Ye IllsttoW AgreeMeht tp : f�i � �i argi a sh' cif ,:Sept 10�1 �2- O£ 'the- E'+ :.; tie l�t�re it �fect teat st1c11 ati eit�ltatlt�e gill; Clot cause be c1tt ff'q c�iosa iglcoriI dd '.:.'the.: ftif�ditiq �otids, not to e 1.ed poi°. fec e�al tart. ;pu posed ..: Sli �ors1,: , krl�'� .�:, �­* � , ". ��, 4 -, , - , - � , � i � THE ` C"Ti�F ,NitAMI , ��,bRIDA :. i q .. �y ,Dlrectoi. of~Fiiaailce ,I �m1p 27387,o005schD 'l13 ; I; F f r l 4 1� I tI .'1 l {: 1 i �, ;iI -: :��.--�� ,, I ':�,! �--,,� d i I a i 1j -, -^I 1 1- - - 'f'y; ,��, �-,",, ':.� -, ; l; I' 1 � �.,, , , 1 .1 h E ti 1Q2`Z ,- .,; . -..+. ..:.. : , n;.a , „ rvrrq.'r. t 77777777 on !polq i Amm EATON VMS :tisiiiilsNOV CoaplbL' _ y MYic V i Hfibat "oh City Att+:t2 ey sgnt.;, I sci _f�Writ Cbiiilse� WON ` naticia� :pophsor, G'losi3ico_sts ih gaii pWiht lMOON&ohc�s - k e �! rich :.GostS in Mal AMA t I ' I I - WON f I , of loon W� i t I I i 1 1' zg 27387.0005sch� =113, �F�N.,. �,,... 't.:., I I, "I � , k �� , - i ­'_,�� , , , �, : � , � ���. � ; �, . I , n- , - �; ��l _1 . I , ; -��! � r , , . � � � i� - . ,. , I t - . � .. : : , _� � � ���. � I ; `� ' __ r" , .1 ,l �_ � i , , . � � � , , ,.. . .. 1, ____­1 I, : 1 , ,: ;7 , � I � ";� � � � t ; � , ..: - . the s rc W.(5epos t Agtwhen � tine Ott' It iai Late' tent afid the t�, hdf : 16h tlrsdut eats, : , ), he 3 lh full `I 6 ' ",` ' '' e e t al i onehtsw appttais'i pit or ether"tic�is by o ,iiina t I . , anyg"�tet6�entaI authof ty tequire'd for tti"e e��oution , :: And 86_ ive,y th.e Clty c� thl� �o�sd .,�urohase. Agf6eent 0 .,.by thea'otdt11 Depbs ti'eeitlent idti the ot11et` �b�nc3 �c+uiCient9 i _�"!, ' and it tie .ptf r aI e y the G'ity ` i� tyke transsetions `. 06nteftpIate thereby; (',M) represe`n s: that ffI the '=t11, o accept"anC�e; by the pity hereof° through the date o� the - C. I661.: 4'i 'et xis pt as contemplates by "the :C� ciai.' tateritent i the �i't Will 6t ut any MAt`dtial 1, I ties`,r` direet or ; r _n et�itigett+. bt e'nter i1t6ally trati5act.oh that ct�ld iF adversely e��eet t'rie transa;ctibns bonteriiplated hereby ar by ` th`esihd pbuients r. a'td there shall ..nbt have' oeen any , a ittatatiai adverse chairje in .°the eOnditio�n, financial or > physical, o the City`.ot°er t°han changes in the ordinary �i:II'..:'�:-T bourse. cat business, br in the normal oper.at `ion of the, faC1,! hies operated ,by the City that bovld adtter`sely aftect .`the' p r:eb (iv re resents'that <the.. tra'nsacti"ona cont.em fated die y . ) p' eebution and ,`del'�tery`' by the , City. of ,thus Bondurctiase A6t6i6ient;` the-k9crow lleposit ,Agreement,, the series 1;987 fonds and the :other 136nd 'b66umen,8 th'e Compliance' by the ''out, Clay with `the :provisions theref,.":and thecarrying 'and consummation by the_`City of its',oblipatons under such dci-cu`' meats and instruments t�i11_'notCbnlact.'wlth Or constltUt:e d``. .,.; ' breach of or a default under any law, ac�ministrative;.regul,a tion, court decree`, instrument; or agreement to which the ` Cit is sub ect or b wh` Y 7 Y; ibh the -City: is.or any, of its properties are.bound. ,1�L'"-�., ` (h) If 'between '.the date of this',Bond Purchase Agree meat and ,ahe date of Closing any event .shal,l' occurhrch,, in- the opinion of 'the`=City; would ;cause' the Official Statement-, ,,"::i as then supplemented or amended, to, contain ',:any; untiue ` statement ,:of a' material fact or'; to omit to „state a material' . ,_ fact necessary;, to."make:the°stat'ements-therein, in the bight ' ­:a�.;��_­'. bf the circumstances under wh ch they', were made, not,'mis le'adi,ng, -City shall, notify ;the Representative, and if in ,the the opinion of the City and, ttie Representative, lsuch event re uir;es the re aration and ublic'ation of a su lemerit or ';. q, P. P P PP ". amendment to the "Official 'Statement, the City ;will' at =its ." 'ficial,�, Ip xpgnseSUPp1 merit , r amend-; the O tatement i'n a 'fora :: !,��t' : aria in -a manner approved by;the,Repre'sentati, - Sf i Exceptas disclosed ( ) p in the ;'Official Statement, I ;i to; the- best knowledge ;of the:: City,. �as of the'date ;hereof, ` there: 'is rio action; suit, : proceeding, - inquiry � or �:nvestiga.-`1 , " _ :, ,. ti:on, ;:at law or iri equity,.: before ;.or by an;y court, .'.govern . meat agency, public board.: or :body;,` pending o`r' threat'ened ' ,' a must th-e City, affecting or' -.'seeking ;to Pr,,ohibit,` restrain; 9 - -- _ U2'2 , :; A - „ is - "li - - - - - : . , I, " F�� ,�% I I :: ,I I � 1, , i - . 1 � . . � - , : . . :, �! i ,i I � � 11 ., 1 ,, , !I �, . � I � -, % *, , t , , , , '� � ,-i � ,v,ti �;,, .i�,,*,.�, : �,i.'I'113 , ,1I , - , .� 'It � , - . :. �t "I. 'I . : I I P � . I , . I I � ,i, 1'�ll � !,� I I ,� I i -,- . , . � -.� 5, -!'�, " - j , I I " I � , -, I � � - - I : ,t j i I , I 1 ,i � - � , _ , . � , � � � I ­ - - I I � -,,� t':, I I - � I .,- ._: I I i .I 1`.. .-, 1; ,": __ilI 4 _ , I It ;6fide'tlliA,6h6,I60- �C t5 I 4 86dhbuIw.t1 , ; 1_'.ffg 'A --. h �1lthi:' ..! g 6tt*6j6 b ,P b��b6FUt8- -kiltgg, wh 6pV 1lbK ..Ir 6.,Ih_t 66� § t Abit6fIti6�r t t1. 4. L,. �hadtd )_at �, MtAd,, ,i iIii6t,I tf ihL A64 d14".., -1,i�,_A�l Iudid..h, , oI dOitAblt�iftI4Ppt.I 1. , 64aA,iA le_t �to,�6C ,6.L tb_f,f�l t ftt f gtit' effibt� , A hYdAi,t''1AIlbt I.. �- getld ihA lb!.&u,; 1.7'.i ! .,.: (, .8 C f kt t 6 O.:t:Wb M�Is:n '. 6,._, Ot.I, b.�liI,, �" i..:�,,��1; Ve l�id61�ut' I # eXe:CUbdAh8 diIvbrtd- I .t:!;�: th,ty-A[IdasgUtihgdU6 AUthqri ato?�0, - ;­1 eUt1Ob-aia A, lv`6iyby thy, §Lrbw,.ALhtj 6 tttil- � bites aAld Andbinding:, agreement6 n the, attf66t br Wt6Wf0 fcea 16 in 6CCbt affi6 with it `:.,,: ; ,A-qtens y au6jacto;as- iO ehfOtcCmeht t6 l applicable ah 'tupt6yj th rotIz,m!of oter .�;A,1'�I:,"1',l�l',i i_ simiIa lasl iel�1I to the t1htbicomLhEOf ,: -: . cte it6tb-:tights; and ' i. '. 1, I' ,1.�-,: �e,�,I 1"�,� � ;; ,­ (l1i)� -c6rtiIidatLortertificates, -­:8at6d the ,I II :i it ate Iof CogtSignt8y the_ Mayor or166 Mayotp - ! ;: th0"Cty%Manager�and e Director_9fhanctofthe o­"­ �, Cyjin form'Fand "substance` -saitfattory:,t o "B6hd C6d,h !1­ ii� �a­ . Sej the iePresent ten counsel t6e bndee -' � writergtiwhoh suchotficia s?to theb6stof., theij ""­I .4I1 �- , knowledge, state I , , what ns d (A) t : i- t_h.aI. a: x7,_*e­�'p�'�.4�,�.,-,,­',­:.����� a­t._- t�i.,,�.tZfi"1,'­-.,, 6- t,; rt­-�'­: e-"_t!,�­s. , wa rant*i"esofthe; Cityheein contained are true ; �.. 'l and :i,cortec 1nall material .respea .of the-"I: .1e_-.I..'-:. Ci6slnj tthat,t e 1yhas satd_fied, & i con I- ' I �o !.tibns, ��,pp itspartto eperformed orsans , .'.� fle *,hereund6rat of "prior to the Closing, and - that,theLinforma t�ion,and statemeitslwithFresect .� to the 1 itycontained in ::0ff1cal',Sta6emeh-i' -- , are tre��correctand complete in all maeri&, ,- : respec sfor th'e purposes for which: such I .-- Official SatOmentis to,;. 1�_e;used, andnot 1ng � -- ,:`hasas cpmei.,.to-tnelatt6ntibnIiatVIoul&ei�-, hei t6b61I Vethat such�Antorma information' 1n theOfricia "1 ;! !Statement includes-Ay,untrue ­,'lofa �,-. l- *I ,,men � Jtmate matey' fA&Eor ;Omi S``state ma�erialfact 4 necessary t -." tfie,_statements ih,reipiinEh1 light of ,,the `circumstances .uAde­4 which; theywere M;made; dn'-�1, notmisleading; i , I o aI s -­;1 t�t,.�h6t;no � ' e,'��nt"t,__,'"--Af.�`,, fOb*.t��i.li.h��.:_,',�.g,-_­t- t, i.',,,C.t"it: , ,­j,,,'�!.I � occurred �slne- the date otheOffidiAl-'State -��,1n.-F)�,,-' .�,,'.. ,.; 'll `Ai' I­th.,: which rsh6ul "be,;"disclosed kii"�t ment, �ev:FhrI ,tr,tyI,.i.1 : � ,Vl7.,'- .�.-,.t. !�;_ �,, j!n i�!l,'t - ,�­* 1 I (2 t7 � Z I: I : 1.1_ 7_,:, �--,':,�­�-�­�.,�__­ 11 1, ,� : _� t­.% 11 ��;_ �; , 1�." I �,� . � � .� ,�: � - - , - _ ,_ . �,:�`1�i I " � . I �. , * �, I � � -- - . - - - ; � � :1 :��.­ I I �, ,; - I � � 1 � _:, - � . � , � � .. . : i . , .� �� I ,:� � , " , . � I ,� _� - �, .�:, � , '. � � � . - � � : - : : , ,� � I , , . : , , , , � � � , I , i . 7�`--`,.,�,`� . I I - . , . w� - I i � I - , -. :�, Ih., .:­ i� . V, , " ��, � - t Y t C o 1�� 6vt, ot-bIA -A 0 ,. 1 0'.11p1C1066Ai h� e,,hI,d._z,, t,- f:;!_1ft:-­1ft,�,; h:,:_---.. iI,i , 6t,ai , � ,*t, d­,q i� I"6 tidtIhbiffil t,tf d gnt,OA yd I11,�4i i-� I _ I - ,bo�h 0UMtIi:,. t' ptitjbfj I11 @.­� Iat1 ftt 6 :Mih A ,()Eti6f�1 St t6it� � 'ftdfidi:� ,! . � t6tb�& t �iaI tbt.@ City Ihada66,.l t . _h' , ,, ,, UtUe lei tUth I1h6itI6donEh� f ' Ata actbt­ftil, t`� tAt I 6tao�tht 16 A :I I, ; ftaIifactrquItb. t&t th 'tL h;Cbi '1" 1 1,1 i tAaCagtbemk the g atft6 h Made thb�iP,, 66twhothaV ,didt u9tAC�t Ai ih;6 tffil166Ih� 0#; j . war n6t � (D) ;the: statetfthAg baeftdu1 jf - ' 1� i: AUtho'il a5t6cu ,I7 Am,a.6ietedby"tie Cit :- ! I Adth, I t h, s&hge�ttdtoI,,th6" use , .:the - f.dlaI:, 1 ii- Life] f,ihatybt1ClAd16Stat66ht:an8�; .the P. �I .�:.- l S .bmo�t�a rwrl6is tatt:�. j., a! � (!E)the ;cd6pt,O of�t 6Bb 6 6rilhanqp � ctito `,ah II`d01iVeI of and tha author lat1oni::axe , -" thetohbodUmant an the 96ies,987 86h6§ i � * and _­ anti-6OmplanceWiththe ro191 ons'�hbred thereof,wiII>notconflict, , br:Coh9t U a raa6h'7bf or_failit�1LianyIa #-a8mnlstra ,' decree, Or,41an e -. tive ragu1ation!consent - re1s611tib!or, :'any ,agreement' or 'other 't, . instrument I ,1 ­ case �b� Eo:-wichthe, City w!as or is'SUDject0as tha -ba-i­no-rwill such adoption,�i6iI -, -1 may ,;enactment, `I i,tion,da1iva�y"-,,au�oriza ion orcoMPI1ance Im, �Id � result: in th6 creation ­or 6 t,ioft, of any. lien, c arge; or bthr security interest or any- 0 f `C"nature whatsoever upon­y , %�-�- �..ptl F eUMD,ranCe,of .any za­1'Prpo - ssetIso the:.City, except as i ,'property � set ..,forth in the Off dial-stat6m6-tr0runder o_anyfa a6mlistr'ativeyegu1A:i5e', ;­ _I­.­ the termst ordlnanc6!, res1ution. oiinst_ru,,men except �6na r�lnancej :; 6 .,,;. !� ­�, 6ipress1roV.ided t��, yp,-7:�. - 'roNajp,'.:consent, auhor1lzA (7al app ionsand ord!rsc„,anygovernmental authority` j t-;�t o-r agency aving-J r,_d1ctionin any mat� ijconstitu eaco I�1pn,rec dafttto -.-f whiciwould -�r z,. theperformance yth &­City0�its blIga lonsI;;!!; and the _6 ,. '­",�I,,�' .;§ heeunder,:8"uh&er the :Bond Or inapqle o ondDocuments have been obtained n are . , �� in :full fforce`'and­'effect, - .. �. 1 ,� , � (GtheCitysaWful y empowered to .; pledge its u11faith, credit and, taxing power `1987`B'n s;j­an3 ' to repayment' of the Series 1., _i * ,. -!� y;J." , I�I - ­! ,� , .., �I 0, -­I,-"27iZ i� A, 1- , : 31,, .. J i � id h it t 6 Aim % LI4 Y, b6n LA The t it nd"i htuf W hi6n rb id f A tl. J, yn P 't and t"h`6 I ed 'Pa. . iifv�� h s6: d 'oft t; With d tie 9 ta tttbtsh t LS r t�jpt, o F'dated , bf, t I h Md t it ILA f it _h bn. 4n,Ty i"6t 6e:A L Mg. Vt t t" he th ia, g�d6t t abe ct fit,, -a ft 6f L t6 the tjn W t ualitjed gur r. ut6t the, "T. U in 1: t 1� potC end auth o' �6 for e tA e Son u t 'b. en il 1Y t d6 a ceT,7 S. 0% _�6 On aft ntu t o, L u th6 tl t b t ibb, -a , I I d %, L I , t va n C 0 n rm, I u t pl!�: 'd th . 'b, __ r e eA Statement ;,the h d I nt u t 0 f f Aal the 0 e t,g Ce� 86 h �, � In s u t'6 r a n the, 'BO jhgUt'an t no e h' -i i an 0 t r a r c e i a r e. 0 correct C, d hic h OUI , 0 IC 7 inc t eteottlit statement. t fe any t ely d: b s, fairly c s a t e'ftl t ft an&.. _ Bind 8Ure: -�sa �7 t csubstance t,., �n-ce 9f report -, tiveand counsel to the 'Under .0 - I I . , i. to theepresent , toxy from .COOpers writer the; aat"e ofthc oubgaccountants, . 1 "independent, . ybrAnddependen1pe-ma the' m -it h'' t fof verifying he ;accuracy.c ncip& i� the,�l ma cl t 0, e,: a eq�4.acy 0 G vernmep,, P. 10 u n ite d States fr. --., " . .'.. .. .. :. ., ::� .. .i ... : : �, i 4, r i - :, ,-, I. ', 1, ��i,1. 'I. - : yl��ylyyy7� �yy'. 7I�.'�pl (. y1 7{ - "" . , ,. :L �1L -1'J. V/1 M:LL'11'l li �.��� ', .± i, - -iJCl1L - is " - ,%x i - ✓ '. - ' I ;, . s .,rc At't� t, C% Lack . My�i . �.I 'i. r'b MM ,- `kI-Abv�13�.yA�{�s}q �q0y��y PIW lalJI[GI�L�7►7 .. _ .. - , +, .. - - - '� ., - I City. Atttrney . . i . . , . .. I: .... . , . i; ,, ,F, i' i - ;; r>: Y i,. 1 - JI— 1 ` - �� l" 4 � - ,- I - 'li ,'� I - :. - ! ,: — I _ i - f 1 jtu �. s 'u - -i' iF tiffs1 - ,i1 r,:a , +} r� �. . r ti 'v, t s j,, _ l hi, k`,,i 1 - - i YF s -'I -_ - _ _ _1,,, - i 'r!.— 'jai �,+ { - I.' t { ! 1 �1' `I- , _ 2 0 -} - h t F i :�, y� + i ' t '� �z ::, -1 - ,1 _ . .::.. _ t I` can AGOORE 1. , I : Y H sag �+ --,i MCA bGl Ilr� :O[i Illlb .: - i 4� iy ric3�ic & ,nc� SF }� yy,. Mc k"litc i I �1904 PoYlt�r Wc ,, a F r I { MAT t I J it t I I 9 I town sm I- i T now o i I - ISN WAY sox q oil :i SAWS My - I I °+ A I. F % � I t fillip 1p I' ' t s . t ' I WIN I 3( t'-mYTHM" Was I S { pp h PIT W R VVQQ f s' I _ r .: - A C,� i; I' .,� �� �� -, 0�ti - _ 1: �a--',.il�y,lilLGC�,'a4C F �, _ . e�ff1 _ y,y 9��y �yy� �y1_iG0I, ..,Ill.l ., .. _ i ;{ i 4 if _ "� .. 1p ,t. - .- - - - - H! V r ,- . .. .s. - :-.. . .- -l., .: - - - - - - - t . .. L _{ { 1:". x�� 1 _- . i tir 1 ,7;r - �: 1- -'. �. - r _' - r �F1 5 7 'i _ ul1 1 1 1 i r J { i - _- i� I' - } .. t1' L t Nrrl i 1' g4 yr` (r a,;tt! - .. 1' _ _ rr 1 -o _ -t. _ 1i' `.. 1 qL.t_. i i I: 1 1- - 1 1 ill, - It : - a ,n i,i 1 _ 1 1Q2'7 2 -,. ,,.: ...:_7 1 �J ,- C i 1' 1 1 i ! _ 4 4' { i I{mwi"3nr.�:"Pt "rT'i�'+'�' 4 ' 1 J 1 .,..,, v.,, i..,. i r<r, .. ,-.r"�.t - , ;. -,S . - - F Miscellaneous I. } 1 I s TOTAL I- h' I{ 1 , I I I Ii I , l - - ;� � , ,,, I � . : i�. ;,: ,, �.� " i: �� , , z,i- -i It ,� � � ", � �, il I ::rl'. .. I I , ll� - -1 .... * n_. . � , , I I I , , , . � - ;, �, I , - � , , , *, , , t�! I I 1111VIT777 _7 , . I � 't, � -� �; , -1, f i t 1.- 'i� ��,ii - - - - ,�N , ; , i:, � : : . F, :It _4 -, .,, , , : � .� , , _, ._.: : :,, .i jbff 1.b� 0 � L' �, IS b , , . . !i:. : � , , 7 �: . .� L. ;- ': . : �, �� � I - , ,��", ,�,, .,:�:-.:,�,- " � 1 - B. 11 .- h. - I k �,. -.. �� : _ .. 1 _ 4, 1 - , - - _- - 1;' — - - 1 t i , -• ir.'. i' .. - r..; - ,,.L '.:� _ .. I .'-. .- - ,- _: ,, - ., i',. '1 t,� - 1 f• 1 _ 1 t I . , , �!� , � � :' .", :: � I," t - !I , ,. � ,',� : ! , � , . 9 � ,��- I' , '_., i, � : :_��- I� _ �.� �I �t � :�' �� ' t', � _ _ i i �-,i��� Ii�1 :�L� � 9; ,, : ,- It F,.,., �-' .i;'. ;it't 1F': " 1 Ct t, 1, Ji 1 I- ':II ��., �_�I :I! 1 � F- �- �::I :� - '� -�:,�-- ,I� 'j,, � . ,- , f 7 � . f ! r, t I -�, :� t� 1 -. 1 r ��L _ y - 1 _1 1'I G ,L1 t � '- - � :.,,F� - ', , .�IL �i s.`ifir{- . : ;�- -f,� �:�: is ,;. �, .�..;: , -.. d r ,' - t {Q:.` b i ` _ - - ` t�t� f9:If ; L7� :t 4J f I. i I: M jl T ll-`�*`l -.1. f 1. ri. .I {.. I t4w."O. ol j TOO, th6tflybifh i6§166 bf M161111 PI&IdS' 66016-8 tht fd!16%vint tillo 6d CAAA66 61PIMAN 141"1 966 i AN EMEFiG NdYA60 AWE 'A! tN IN6 'iiO 16N flbft 4bINA ENO :Ab'bPttb btdtMb ji ii '6 :'WO. tHt C t M &NN'Ti A0060A W01' A J NAN t­u AWNbOI INOW4b NtApof I Ac; K't*" PMAX w 0 to N , JI-K NWY- 00 6 ��M 6 b It btViLdOWNt" ipt 44; A' OK, W646- IW`tH '9901 t AMOUR !§,`6P-18A'66:ANb 0 b bb 'MNEA L'�'- Ll 0A AM AND ht0tXTi6N: A 9 iGATIO N j 66NbO Nb '6 TAININdi A 110MEA 0146VI9614-Mb FU C' N b.; A,gt kt R0 I SPECIALAtV NUti' AN 0 NANCE WMWSHINOWN if H *UNbL'ENfl%tb1 E J MNitkL PAIA 2:'FUNDS F6hTHE bPEAATION:OP A INH ..XM6UNt 6P 3 4,Sl 0,� t AtCOVEb 4AL ANb StAtt' Pm6w'Ht I M I b" TM' OP,,;HEA'LtH:'Af 6,�,F�00 k be'O'Ah EN U5,06.'PP FISCAL YEAR' 6 EC 1980-818k -IALP146 tih,XMiANEA T CCOLIN, t, b d apt 8atut ay, Sunday. published Ally except F NOS POI -AND 53l50 PkOM,I'H , t, U 'AANTS' t GARRYOVER Leqal Hb i,dtiys r. :r'PUND:bANCE� LA PROM -tHt * 'FittREAtION Miami; bade PoUhty, Flbttda. �,IN TH81CITY ,MANAGEWTO' 'AdbtPT GRANT AWARb tTA�t'60 PWAII)A­ .."AND' tb-� ARY El -i00UNT-Y0,r,DA0L- am t(S) R A M Ar, Akbittik Adh 013 bt L .4 8616teAhe Utidersigned,:aUthorilY personally 600eated ATTORNEY, R TH 'A PTAN 0 C F IE b ITY ATT F;tHE GRANT, NO A'13E ALE SON D A PN6 j I AN 'SO Sookie.Williams;,who oh 'oath sayt that she is the 'a ITYCLAUS­ ewv,daily except. Saturday,: Sunday and Legal 'Holidays)' newspaper publishid4l Miami in bade'County, Florida; that We Attached NO, iD2'70:;: Copy di advertisement; being4legai Advertiseffient,of Notice . I � i - I . - in the mallet o - " )40�, N ORDINANCEAMtNDINd:8U8S8CTION(C SECTION J; 62:64OFTHtCODE bF,THt CITY 1OF�:MIAMI,,F LbRibA'At CITY MIA)4i�;-� PROV41blNG"STAOGERED TERMS OP. 6PFICE`,�,', 2: 72 bA-THE V&IN O;M�MBE`FS OF THE-MIAMSPORTS�AN,' i.:. W0RD. 1 EXHIBITION AUTHOMTY-CONTAINING:A REPEALER VISION'AN16k EVtAAbILITYCLA USE. AADINAN10271 NOi ANir-mr-MurNUrORUINANCE ESTABLISHING ANEW SPlF-: A MER E�CY-,,:ORDINANI E �;;Q F:`TH E CITY,: �!�*A'Ml ws publication of, the attached -copy o advertisement, an rther says 0 afA _ � i.. . � - ' FLORIDA iit:ihe has neither paid nor promised any L H commission,,• Or ,corporation -securing -,this : advertisement.AMOUNT"." : p son I for." EXC ED,$4( AGGREGATIE� PRIN61PAL"," fern iration any, discount: rebate, A;VAUT 0131ZIN,G�J, E-:�:ISSUANCE ;�`,'OFOT!J-O!;; E ip t d. for thejiu At ,p lion :in':.the i inev4spaper-.��-:OFGEN& ONDSj':SERIES" 1987ir'OFTHt'.,CITY L A VOR A P j JNU,� t ORTION1,6F z. �:THEPTY!S'fiRE,.FJGH �.j PREVENTION. A -'r",N D.;RESdUE, FACILITIE&; BONDS;POLICEHEAD VARTFEF3S�A D`CFIME1PREVE TIOWTACILITIESJ�.� Q N' STOI3 ad: b A BO D$, --SANIT M S­ J S c i6 efore.me t i N ' ` &W V M -PRO � EMENT-BONDS"