HomeMy WebLinkAboutR-86-1009J-86-1054
12/2/86
RESOLUTION NO. 86:100"'.}
A RESOLUTION AFFIRMING THE PAYMENT OF
$14,170.12 TO REVIEW FINANCIAL PRINTERS FOR
EMERGENCY PRINTING SERVICES PROVIDED IN
CONNECTION WITH THE PRINTING AND DISTRIBUTION
OF CITY OF MIAMI OFFICIAL STATEMENTS FOR THE
SALE OF GENERAL OBLIGATION BONDS, AS PROVIDED
FOR IN THE 14ASTER BOND RESOLUTIONS, TO BE
PAID FROM FUNDS AVAILABLE FROM THE PROCEEDS
OF THE BOND SALE.
WHEREAS, as a condition of the sale of City of Miami
General Obl i gati on Bon ds, the Ci ty i f required to p r i n t an d
distribute Official Statements in conjunction with the offering
of the bonds; and
WHEREAS, Review Financial Printers are the only local,
full service financial printers with on -site printing operations
in the City of Miami; and
WHEREAS, Review Financial Printers have provided the
above -mentioned printing services at a low cost to the City since
these documents were an update of prior City Official Statements
previously printed by Review Financial Printers; and
WHEREAS, the incurring of printing expenses associated
with the sale of City of Miami Bonds authorized under the Master
Bond Resolutions and the funds for the payment of these printing
expenses are provided form the proceeds of the bond sale; and
WHEREAS, the emergency nature of the City Manager's
approval for printing services was required by the short
ti mef rame between the Commission approval of the bond sales and
the required distribution of the Official Statements;.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section. 1 That the City Commission of the City of
Miami affirms the emergency approval by the City Manager for the
printing of the City of Miami General Obligation Bonds Official
Statements by Review Financial Printers at a cost of $14,170.12,
to be paid from the proceeds of the sale of said Bonds.
CITY COMMISSIt)1V
MEETING OF
t
DEC 11 19w
86-1009
RESOLUTION No.
REMARKS:
PASSED AND ADOPTED this 11th day of December , 1986.
MATTY HIRAI,
CITY CLERK
PREPARED AND APPROVED BY:
KUUtKi t. LLAKK,
CHIEF DEPUTY CITY ATTORNEY
I ER L . TJAREZ
M A Y O R
TO FORM AND
LUCgA A. DOUG
CITY ATTORNEY
86-1009
2
CITY OF MIAMI. FLORIDA ��
INTER -OFFICE MEMORANDUM
TO Honorable Mayor and Members DATE OEC 51986 VILE
of the City Commission
SUBJECT Affirming Emergency
Approval for Printing
Services
FROM REFERENCES
Cesar H. Odi o
City Manager Mana '
1 ENCLOSURES
RECOMMENDATION
It is respectfully recommended that the City Commission adopt the
attached resolution affirming the City Manager's emergency
approval for printing services provided by Review Financial
Printers for the City of Miami, Florida, General Obligation
Bonds, Official Statements at a cost of $14,170.12, to be paid
from available bond proceeds.
BACKGROUND
The Finance Department has conducted the sale of two City of
Miami General Obligation Bond issues in FY-1986. The Master Bond
Resolutions authorized the incurring of printing costs and other
costs associated with the sale of the bonds to be paid from the
bond proceeds.
Review Financial Printers provided printing services for the
production of the Official Statements offered in conjunction with
offering of the bonds. Review Financial Printers are the only
local financial printers with full service on -site printing
capacity and have provided the City with high quality, low cost
printing services, as they have produced the City's annual
financial report an d previous official statements which were
updated for these bond sales. The expense of $14,170.12 incurred
for these printing services are payable from the proceeds of the
bonds.
Attachment:
Proposed Resolution
86-i009