HomeMy WebLinkAboutR-86-0759J-86-714
8/25/86
RESOLUTION NO. SG— 759'
A RESOLUTION APPROVING THE CITY ATTORNEY'S
SELECTION AND AUTHORIZING THE EMPLOYMENT OF
THE LAW FIRM OF GREENBERG, TRAURIG, ASKEW,
HOFFMAN, LIPOFF, ROSEN & QUENTEL, P.A. TO
SERVE AS SPECIAL TAX COUNSEL FOR THE ISSUANCE
OF CERTIFICATES OF PARTICIPATION, SERIES
1986, EVIDENCING AN UNDIVIDED PROPORTIONATE
INTEREST OF THE HOLDERS THEREOF IN BASIC RENT
PAYMENTS TO BE MADE BY THE CITY OF MIAMI,
FLORIDA, AS THE RENTAL AND PURCHASE PRICE OF
CERTAIN EQUIPMENT PURSUANT TO A LEASE -
PURCHASE AGREEMENT; SAID LAW FIRM TO RECEIVE
PAYMENT FOR SERVICES AT THE HOURLY RATES AS
SET FORTH IN ITS PROPOSAL TO THE CITY
ATTORNEY, SUBJECT TO A MAXIMUM PAYMENT OF
$50,000 TOGETHER WITH PAYMENT FOR COSTS
ADVANCED BY SAID FIRM WITH THE MONIES FOR
SAID FIRM TO BE PAID FROM THE PROCEEDS OF THE
SALE OF SAID CERTIFICATES OF PARTICIPATION.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA:
Section 1. The City Attorney is hereby authorized to
employ the law firm of Greenberg, Traurig, Askew, Hoffman,
Lipoff, Rosen & Quentel, P.A., which she has selected to serve as
special tax counsel for the issuance of Certificates of Partici-
pation, Series 1986, evidencing an undivided proportionate
interest of the holders thereof in basic rent payments to be made
by the City of Miami, Florida, as the rental and purchase price
of certain equipment pursuant to a Lease -Purchase Agreement; said
law firm to receive payment for services at the hourly rate as
set'forth in its proposal to the City Attorney, subject to a
maximum payment of $50,000 together with payment for costs
advanced by said firm with the monies for said firm to be paid
from the proceeds of the sale of said certificates of partici-
pation.
PASSED AND ADOPTED this 2.sth day..,Qf _, ptPm}sar , 1986.
R L.
ATT :
MKTTY HIRAI, CITY CLERK
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
To ZonaMayor and Members DATE September 4, 1986 PILE
y Commission
suoiczr Employment of Bond Counsel
Greenberg, Traurig, Askew,
Hoffman, Lipoff, Rosen &
Quentel, P.A.
FROM REFERENCES
oughety Commission Agenda 9/25/86
City Attorney ENCLOSURES.
(Resolution)
The City Attorney has negotiated with the law firm* of
Greenberg, Traurig, Askew, Hoffman, Lipoff, Rosen & Quentel, P.A.
to serve as special tax counsel for the issuance of Certificates
of Participation, Series 1986, in the amount of $160175,000. The
law firm will receive payment for its services at the hourly rate
as set forth in its proposal to the City Attorney, subject to a
maximum payment of $50,000. In addition, the law firm will be
reimbursed for costs advanced and the monies for said firm will
be paid from the proceeds from the sale of the certificates of
participation. The City Attorney has negotiated the fee based
upon the criteria of size, risk, contingency and complexity. In
light of the nature of the certificates of participation and the
utilization of the lease, and the consideration of additional tax
issues related to the issuance of the certificates of partici-
pation, the City Attorney recommends the above mentioned fee.
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