HomeMy WebLinkAboutO-10141ORDINANCE NO. ,
AN EMERGENCY ORDINANCE AUTHORIZING THE ACQUISITION BY
THE CITY OF MIAMI OF CERTAIN PROPERTY BY LEASE-
PURCHASE; AUTHORIZING THE PREPARATION, EXECUTION AND
DELIVERY OF A LEASE -PURCHASE AGREEMENT 9ETWEEN AN
8OUIPMENT LESSOR AND THE CITY, AS LESSEE, PURSUANT TO
WHICH SUCH ACQUISITION SHALL $E ACCOMPLISHED; AUTHORIZ-
ING THE PREPARATION, EXECUTION AND DELIVERY OF AN
AGENCY AGREEMENT BETWEEN THE EQUIPMENT -LESSOR AND AN
AGENT, PURSUANT TO WHICH THE EQUIPMENT LESSOR WILL
ISSUE CERTIFICATES OF PARTICIPATION IN SAID LEASE--
PURCHASE AGREEMENT; AUTHORIZING THE PREPARATION OF A
CERTIFICATE PURCHASE AGREEMENT BETWEEN THE EQUIPMENT
LESSOR AND CERTAIN UNDERWRITERS, PURSUANT TO WHICH THE
LESSOR WILL SELL SUCH CERTIFICATES OF PARTICIPATION TO
SUCH UNDERWRITERS, WHO IN TURN, WILL MAKE A PUBLIC
OFFERING OF SUCH CERTIFICATES; AUTHORIZING THE PREPARA-
TION OF A PRELIMINARY OFFICIAL STATEMENT AND A FINAL
OFFICIAL STATEMENT, EACH TO BE USED IN CONNECTION WITH
OFFERING SAID CERTIFICATES OF PARTICIPATION TO INVEST-
ORS; RATIFYING AND CONFIRMING THE SELECTION OF UNDER-
WRITERS; APPROVING THE NEGOTIATED SALE OF THE CERTIFI-
CATES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED
$25,000,000 TO THE UNDERWRITERS AT AN EFFECTIVE INTER-
EST RATE NOT TO EXCEED NINE AND ONE-HALF PERCENT (9-
1/2%) IN ONE OR MORE MATURITIES, NONE OF WHICH SHALL
EXCEED TWENTY (20) YEARS; AUTHORIZING APPROPRIATE
OFFICERS OF THE CITY TO TAKE SUCH INCIDENTAL ACTIONS AS
SHALL BE NECESSARY AND APPROPRIATE TO ACCOMPLISH THE
LEASE -PURCHASE FINANCING OF SUCH PROPERTY, INCLUDING
BUT NOT LIMITED TO THE ESTABLISHMENT OF RESERVE FUNDS
OR THE PROCUREMENT OF CREDIT ENHANCEMENT TO SECURE SUCH
CERTIFICATES OF PARTICIPATION; REPEALING INCONSISTENT
ORDINANCES; PROVIDING THAT THIS ORDINANCE SHALL GO INTO
EFFECT IMMEDIATELY UPON ITS ENACTMENT; AND DISPENSING
WITH THE READING OF THIS ORDINANCE ON TWO SEPARATE DAYS
BY A FOUR -FIFTHS VOTE OF THE COMMISSION.
WHEREAS, the Commission (hereinafter referred to as the
"Commission") of the City of Miami, Florida (the "City") desires
to authorize the lease -purchase acquisition by the City of any
items of personal property or equipment to be acquired by the
City prior to September 1, 1990, including, but not limited to,
the items of equipment identified in Exhibit A to this Ordinance
(the "Equipment"), said Exhibit A being hereby adopted by refer-
ence thereto and incorporated herein; and
WHEREAS, it is anticipated that Fiscal Funding Co., Inc. or
a subsidiary thereof (the "Lessor") will enter into a lease -
purchase agreement with the City pursuant to which the City will
lease the Equipment; and
s
WHEREAS$ it is also anticipated that the Lessor will sell
certificates of participation evidencing undivided interests in
such lease purchase ag reemo nt,, and
W48R8A8# the Commission desires to set forth the basic
financial terns to be incorporated into Such lease -purchase
agreement and such certificates of participation and to authorize
the preparation, execution and delivery of such lease -purchase
agreement and to authorize officers of the City to approve the
forms of such certificates of participation and other documents
and agreements to be used in connection with the issuance thereof
to the public; and
WHEREAS, by its Resolution No. 86-560 adopted on July 10#
1986, the Commission authorized the City Manager of the City (the
"City Manager") to select underwriters to 'work with the City to
accomplish the sale of such certificates of participation; and
WHEREAS, the Commission desires to ratify and confirm the
selection of the underwriters chosen by the City Manager pursuant
to such resolution and to authorize the negotiated sale of such
certificates of participation to such underwriters pursuant to
the terms of a certificate purchase agreement; and
WHEREAS, in order to permit the marketing of such certifi-
cates of participation prior to the next scheduled meeting of the
Commission, it is necessary that the Commission dispense with two
readings of this Ordinance and that this Ordinance take effect
immediately upon its enactment;
NOW, THEREFORE, BE IT ORDAINED by the Commission of the City
of Miami:
Section 1. The recitals, findings and exhibits contained in
the preamble of this Ordinance are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
section.
a 2 s
t
10141
bectlbh ids The L;bMfh1I§§I6h hereby auth6tig6st the lease -
purchase aequil§itibm of the Equiptteht, Such authorization is
subject in all respects to the further terms of this Ordinance
and to all requirements of law Otherwise pertaining to the acqui-
sition of equipment , by the City. Such authorization is not
intended to preclude the City from using other means to acquire
the Equipment- With respect to items of the Equipment identified
in exhibit A, title to which resides in the City as of this date,
the commission hereby authorizes the conveyance of such items to
the Lessor or such other action as shall make such items subject
to the terms of the Lease Purchase Agreement described in Section
3 of this Ordinance.
Section 3. The Commission hereby authorizes the prepara-
tion, execution and delivery of a lease purchase agreement (the
"Lease Purchase Agreement") between the Lessor and the City, as
lessee, pursuant to which the lease -purchase acquisition of the
Equipment by the City shall be accomplished. Payments due under
the Lease Purchase Agreement as rent or otherwise shall be made
only from funds appropriated by the City for that purpose.
Neither thd City nor any agency or department thereof shall be
obligated to pay any sum to the Lessor under the Lease Purchase
Agreement from any taxing source and the full faith and credit of
the City or any department or agency thereof shall not be pledged
for the payment of any sums under the Lease Purchase Agreement.
The obligations of the City under the Lease Purchase Agreement
shall not constitute an indebtedness of the City or any depart-
ment or agency thereof within the meaning of any constitutional,
statutory or charter provision or limitation. The Lease Purchase
Agreement shall set forth the term of the lease -purchase acquisi-
tion by the City of the Equipment and shall set forth the rental
rate to be paid by the City in respect thereof and the dates on
which rents shall be due and payable, The Lease,Purchase Agree-
ment shall be in such form as shall be approved by the City
Manager, after consultation with the Director of Finance of the
10141
City the "bisector of Pinanct" ), and approved as to form by the
City Attorney o'f the City (the "City Attorney"), such approvals
to be evidenced by the execution of the Lease Purchase Agreement
by the City Manager and by the execution of an acknowledgment
thereoh by the City Attorney that the City Attorney has approved
the Lease Purchase Agreement as to form. in all respects, the
Lease purchase Agreement shall be consistent with the terms of
this Ordinance. The Commission ratifies and confirms the selec-
tion Of Fiscal Funding CO,# Inc. or a subsidiary thereof to serve
as Lessor.
Section 4. The Commission hereby authorizes the preparation
of an agency agreement (the "Agency Agreement") between the
Lessor and an agent (the "Agent"), pursuant to which the Lessor
will issue certificates of participation (the "Certificates of
Participation") representing undivided ownership interests in its
interest in the Lease Purchase Agreement. The Agency Agreement
shall set forth a form or forms of the Certificates of Participa-
tion. The Agency Agreement shall be in such form as shall be
approved by the City Manager, after consultation with the Direc-
tor of Finance, and approved as to form by the City Attorney,
such approvals to be evidenced by the execution of a certificate
by the City Manager and by the execution of an acknowledgment on
such certificate by the City Attorney that the City Attorney has
approved the Agency Agreement as to form. In all respects, the
Agency Agreement shall be consistent with the terms of this Ordi-
nance. The Commission authorizes the City Manager to approve the
selection of a bank or trust company to serve as the Agent.
Section 5. The Commission hereby authorizes the preparation
of a Certificate Purchase Agreement (the "Certificate Purchase
Agreement") between the Lessor and the underwriters hereafter
mentioned (the "Underwriters")► pursuant to which the Lessor will
sell the Certificates of Participation to the Underwriters, who
in turn Will make a public offering thereof. The Certificate
Purchase Agreement shall be in such form as shall be approved by
4
10141 ,
the City Mahaoert after Consultation With the Director of
FihahC6, and approved as to fort, by the City Attorney, such
approvals to be evidenced by the execution of a certificate by
the City Manager and by the execution of an acknowledgment on
such certificate by the City Attorney that the City Attorney has
approved the Certificate Purchase Agreement as to form. in all
respects, the Certificate Purchase Agreement shall be consistent
with the terms of this ordinance.
Section 6, The Commission hereby authorizes the preparation
and distribution of a preliminary official statement or offering
memorandum (the "Preliminary official Statement") relating to the
public offering of the Certificates of Participation by the
Lessor. The Preliminary official Statement shall be in such form
as shall be approved by the City Manager, after consultation with
the Director of Finance# and approved as to form by the City
Attorney, such approvals to be evidenced by the execution of a
certificate by the City Manager and by the execution of an
acknowledgement on such certificate by the City Attorney that the
City Attorney has approved the Preliminary official Statement as
to form. The Commission hereby further authorizes the prepara-
tion, execution and distribution of a final official statement or
offering memorandum (the "Final Official Statement") substan-
tially in the form of the Preliminary official Statement, but
with such additions, changes or deletions as shall be necessary
and appropriate to reflect the terms of the sale of the Certifi-
cates of Participation by the Lessor to the Underwriters and the
terms of the resale thereof by the Underwriters to the public.
The Final official Statement shall be approved by the City
Manager and the City Attorney in the manner set forth above with
respect to the Preliminary official Statement.
Section 7. The Commission hereby ratifies and confirms the
selection as Underwriters of: Shearson Lehman Brothers Inc.,
L,F. Pothschild, Unterberg, Towbin, Inc., Grigsby, Brandford &
Co., Inc., A113C Investment Services Corporation, Bear, Stearns &
Co. Inc. and M Securities Inc,
- 5
4 1
8ecti6m 8, The Cottmisigiw) hereby appr6Ve§ the negotiated
sale by the Lessor of the Certificates of Participation to the
Underwriters pursuant to the terms of the Certificate Purchase
Ag re otne n t The Certificates of Participation are hereby approved
to be so gold in an acIgregate principal amount not to exceed
$25tOOOtOOO. The precise aggregate principal amount of the Cer-
tificates of Participation to be so sold by the Lessor shall be
approved by the City Manager; after consultation with the
Director of Finance and the financial advisor to the City and
shall be such aggregate principal amount as the City Manager
shall determine will be sufficient for the purposes set forth in
the next two succeeding sentences. Proceeds of the sale of the
Certificates of Participation shall be applied to (i) acquire the
Equipment; (ii) pay costs of issuance associated with the Certi-
ficates of Participation; and (iii) pay accrued interest on the
Certificates of Participation, if any. A portion of the proceeds
of the Certificates of Participation may be applied to establish
a reserve fund in respect of the Certificates of Participation or
to procure credit enhancement to secure the Certificates of Par-
ticipation. The effective interest rate of the Certificates of
Participation shall not exceed nine and one-half percent (9-
1/2%). For purposes of the preceding sentence, the effective
interest rate shall be determined in accordance with the
"Canadian" or "true" interest cost method of calculation by
doubling the semi-annual interest rate (compounded semi-annually)
necessary to discount the debt service payments from the payment.
dates to the date of the Certificates of Participation and to the
purchase price thereof set forth in the Certificate Purchase
Agreement, not including interest accrued to the date of deliv-
ery. The effective interest rate to be borne by the Certificates
of Participation shall be determined at the time of execution of
the Certificate Purchase Agreement by the City Manager, after
consultation with the Director of Finance and the financial
advisor to the City, and shall be, subject to the maximum rate
- 6 -
10141
limitati6h set forth above, the lowest rate available to the 'City
under then current financial conditions taking into consideration
the maturities and mandatory prepayment dates, if any, estab-
lished for the Certificates of patticipationi The Certificates
of participation may be subject to optional or mandatory prepay-
ment, as approved by the City Manager, after consultation with
the Director of Finance and the financial advisor to the City,
The Certificates of participation shall be sold at an underwrit-
ing discount or fee not to exceed four percent (4%) of the aggre=
gate principal amount thereof and may be sold at a premium or at
an original issue discount not to exceed five percent (5%) of the
aggregate principal amount thereof, The Certificates of Partici-
pation may be issued in one or more series and may mature on one
or more dates, provided that the final maturity of any of the
Certificates of Participation issued shall not exceed twenty (20)
years, and provided further that the average life of all Certifi-
cates of Participation issued shall not exceed fifteen (15)
years.
Section 9. The City Manager, the Director of Finance, the
City Attorney, the Mayor, the City Clerk of the City and other
officials and officers of the City are hereby authorized and
directed to execute and deliver such other documents and to take
such other actions (including, but not limited to, the establish-
ment of reserve funds or the procurement of credit enhancement to
secure the Certificates of Participation) as shall be necessary
and appropriate to accomplish the lease. -purchase financing of the
Equipment pursuant to the terms of this Ordinance and pursuant to
the terms of the agreements and instruments authorized to be
prepared hereby and to accomplish the performance of the obliga-
tions of the City in respect thereof. The City Manager, after
consultation with the Director of Finance and the financial
advisor to the City, is hereby authorized to agree to such
requirements as may be imposed by the issuer of any credit
enhancement or rating with respect to the Certificates of Rarti-
- 7 �.
ipation 68 a condition of the issuando of suon credit enhancd-
gent or eating,
Section 10. Any Ordinance inconaistent with this Ordinance
is hereby repealed to the extent of such inconsistency. _
Section 11, This Ordinance shall take effect immediately
upon its adoption.
Section 12. This Ordinance is hereby declared to be an _
emergency treasure on the grounds of urgent public need for the
preservation of peace, health, safety and property of the City
and for the further reason set forth in the last recital of this
Ordinance. The requirement of reading this Ordinance on two
separate days is hereby dispensed with by a vote of not less than
four -fifths of the members of the Commission.
PASSED AND ADOPTED THIS 24TH DAY OF DULY, 1986.
XAVIER L. suKREz, Mayor
ATTEST:
:M TY HI A , City Clerk
PREP D AND A P
R RE Y:
ROBERT F. CLARK,
Chief Deputy City Attorney
APPROVED AX TO FORM AND
CORREC .N S :
C A A. DOUGHER Y,
City Attorney
Hirai, Clerk of the City of Mi%r * Ftoridn,
Q:*64r,' tll;a on thc_L_da� of «%[
i otQ_a `c li, trtiv: id correct:
' ►.+' tilt!' )rdin:llice was paste' , � ;• l ,r
a i i.4-milt • (.C,i;trt fl;)usc ;a ,r . i .,ed
f l' n, t.:s IfflId Imblu:rttions by ;tt�ailt " ;,l ,i>� to
U11c plstce pruvidcd therefor.
tiVITN'ESS my luaus _ a the ofti iul seal of said
Cih' t!:i5 ._>i�;!•,� of � _... � -� r•a
R 8
I
■
■
iLI:U .R T'IVE LIST OF
HEAVY EQUIPMENT MAINTENANCE DIVISION
EQUIPMENT REPLACEMENT SCHEbULE
FOE FISCAL YEAR 1957
gym:,
Attathmant A
ESTIMATED REPLACE -
CATEGORY EQUIPMENT DESCRIPTION MENT COST FEE UNIT TOTAL
..Truck
17 1081 Garbage Truck (401A - 417A) $79,500 $i,351,500
22 Tractor
2 1977 Tractor (M673, M674) $14,400 $ 28,800
23F Throw -Away Mower
6 1986 Throw -Away Mower $ 270 $ 1,620
26B Front End Loader w/Backhoe
1 1977 Massey -Ferguson Front End $44,300 $ 44,300'
Loader (M672)
GGarage Service Vehicle
1 1971 Wrecker (1997) $85,000 $ 85,000
1 1971 Tank Truck (1952) $53,400 $ 53,400
TOTAL ESTIMATED COST TO REPLACE 28 HEAVY EQUIPMENT UNITS
DURING FISCAL YEAR 1987........................................ $1,564,620
10141
�STtMA��O RLACRMEt3fi +'�
�A�'�GORY � � 11tRMEt�T 0R6GR1RT16N
1 1078 Robuilt Rubbish 0rOb (491/M468) $ 660560 $ 660500
0313 10 'Yd,_Dump, Trick
3 1978 bUMp Truck (1862A, 1863A, 1864A) $ 64,700 194j100
06 Miscellaneous Automotive Equipment
�1 1978 Tree Crane (19938) $ 38,100 38,100
08 Garbage Truck
12 1981 Garbage Truck (1931A - 1942A) $ 87,400 1,0480800
16 Road Maintainer
1 1978 Road Maintainer (M680) $ 56,600 56,600
20 Utility or Pick -Up Truck
2 1978 Utility or Pick -Up Truck (1865A, 1866A) $ 19,300 38,600
11l IW_ 41
ili;AW �tENT_ MAiH'i'ENAt���, tf�V�$�ft�
()tjt�i t.4 M.P.i�1
�STMA'�Eb f�:�t,AC�NtEi�T
CA' lrt ik1' tftPM N t' �t SC t '1 N Cif ' R UMtM TOTAL
23F 'Throw-Awey Mbw r „
6 1081 Throw -Away Mower $ 290 lj740
(
230 pbw0r Mger Mower
12 1087 power Edger Mower $ 270 �,240
25 ` Roller
1 1978 Dyna Pack Roller (M676) $ 49,500 49,500
26B Front End Loader w/Backhoe
1 1978 Case Front End Loader (M677) $ 48,600 48,600
27A Compressor (Under 200 CFM)
1 1978 Air Compressor (M678) $ 13,200 13,200
TOTAL ESTIMATED COST TO REPLACE 43 HEAVY
EQUIPMENT UNITS DURING FISCAL YEAR 1988 $ 1,663,380'
i
i
i .
�'OR F1St`AL Y�A�t 1�8�
C�'►�'�GbRY � �0ti�pMEM�' D�S0�11�TYbN
Truck
1979 Dump Truck (1 00 W 1997a)
0A.... 1_0 _Yd.._bump..firurk
1 1979 Dump Truck (1867A)
08 Wirbege_Truck
16 1582 Garbage Truck
C
0913 pen Rubbish Dump
8 11,79 Open Rubbish Dump Truck (1900A - 1907A)
11 School Bus
1 1979 School Bus (1868A)
r.Sfi1M M MIUMMU'T
SSTR1" 'DOTAL
420200 $ 168o800
71, 300 71000
$ 96,200 1,5390200
$ 46,600 172,800
$ 45,000 45,000
Mona- OOLa_MA N.1` tAt�C 2 510N
VSN�CL R LAC tZNT_ SCHtljt t
�C�. FtSCAL �F� i997
J�Sfi1MAgPb KheLACbIFNT
CA'Y'FCnItY_.� VtI#iCLi 051'FEtt.,VWCU .
43 1981 Chevrolet Chevette (1100-1142)
2 1981 Ford Escort (41960 4197)
45 Subs-Cftpacte
G2_ ._, Cotopacts
5 1981 Plymouth Reliant
(4193-4195, 4198, 4199)
G3 Full Site d Intermediates
4 1981 Grand Fury (2296 - 2299)
1 1981 Ford IND (4100)
5 Full Size & Intermediates
G4 Station Wagons
3 1981 Chrysler LeBaron (4175-4177)
G5 Pick Up Trucks
1 1981 GMC Wrecker (1145)
G7 Panel Trucks (Passenger)
7 1981 Dodge Sportsman (3192-3196, 3199,
Stad. 6 Mar.).
2 1981 PlAouth Voyager (3197, 3198)
1 1981 Chevrolet Suburban. (1193)
10 Panel Trucks (Passenger)
$ 9,300
$ 10,200
$ 11,800
$ 12,300
$ 14,400
$ 12,900
TOTAL
$ 418,500
$ 51,000
$ 59,000
$ 36,900
$ 14,400
I
$ 129,000
$ 708,806
10141
11 A 1
MOT
kk P00L MAAIN ENAN DIVNMN
V�H2L1,� ���LACEM�fvT 5��1:�1bUL
t9TIMAM RMAC' ENT
IL.- V NiCL" u COSH` 15'tt. WRTM �'�'�AL
27 1983 Patrol Cars $ 14,200 $ 383,400;
P2 Unt�arked Compaots,__6 _Fail_. Sizes
1 1981 Grand Fury (100)
15 1981 Chrysler LeBaron (200-214)
16 Unmarked Compacts & Pull Sizes
SUB -TOTAL FOR 43 POLICE VEHICLES
TOTAL ESTIMATED COST TO REPLACE 112
VEHICLES DURIN( FISCAL YEAR 1987
$ 11,250
$ 180,000
$ 563,400
$ 1,272,200
1 0141
um"%R amp w1tvMkyft. �Dtytst0i�
{fi iG �rAMWENT 8MAMMA
�0� PiSCAf, Y�AR�87/88,
POLICE PATROL •4 YAS OR 70,000 MILES (1982 & 19831 1984)
OTHER POLICE & POOL -6 YR8 OR 70,000 MILES (1981 & 1982)
P4TRGORY & "91et"
23 1981 Ford LTD
(500,502,503,504,522,525,532,
535,536,537,539,542,543,544,
545,546,547,548,550,55i,579,
580,582)
1 1982 ply Grand Fury
(236)
18 1983 Ply Grand Fury
(249,250,251,252,253,254,255,
1561257t258i259,260,261,2620265,
264,265,267)
2 1983 Ford LTD
(583-584)
ESTIMATED REPLACEMENT
OAST ERR V�)#1CLR
$100500,00, i
44 1984 Dodge Diplomat
(600,601,602,603,604,665,606,607,608,6099
610,611,612,613,614,615,616,617,
618,619,620,621,622,623,624,625,
626,627,628,629,630,631,632,634
635,636,637,638,639,640,641,642,
643644)
88 PATROL CARS
9
TOTAL
$924,000,00
P2 Unmarked Compacts & Full Sizes 10,500.00 399,000.00
3 1982 Ford LTD
(501,505,506)
19 1982 Ply Gran Fury
(215,216,217,218,219,220,221,222,
223,224,225,226,227,228,229,230,
231,232,234)
14 1981 Chrysler Lebaron
(200,201,202,203,204,206,207,208
209,2100211,212,213,214)
1 1983 Ford LTD CROWN VICTORIA
(590)
1 1981 Ply Gran Fury
(100)
38 Unmarked Compacts 6 Full Sizes 1 0 14 �.
11 A 1 ��
i9$2 Dodge M50 Ttaddh Man Van
(496,498)
i 1982 'Dodge spottsman Wagon Van
(480)
4 otber (Police) Vehicles
P4 Motorcycles (i,000__ _c_,c. &. Over)
8 1982 Marley Davidson Motorcycle
(M-55, M-56, M-57, M-58, M-59
M-60, M-61, M-62)
4 1982 Kawasaki Motorcylce
(M-631 M-64, M-65,M-66)
12 Motorcycles (1,000 c.c. & Over)
P5
31 1982 Honda CM250 Motorcycles
(H-10 H-21 H-3, H-4, H-5, H-6, H-7,
H-8, H-9, H-10, H-11, H-12, H-13, H-14,
H-15, H-16, H-17, H-18, H-19, H-20, H-21,
H-22, H-23, H-24, H-25, H-26, H-27, H-28,
H-29, H-30, H-31.
P6
6 1982 Dodge SportsmanWagon (Van)
(486,487,488,489,490,491)
6
P7
15 1982 Ply Horizon
(283, 284, 285, 286, 287, 288, 289, 2919
292, 293, 2941 295, 296, 297, 298) -
' 10;800.00
1
6j200.00
10600.00
10,800.00
6,500.00
10,800.00
U,400.00
49,600.00
64,800.00
97,500.00
TOTAL $1,641,300.00
10141
Ll 81500,00 487,500,00
32 1982 Ply 140ritor
(3111-3142)
2 i98'l pond Rowt
(4196-4197) 1
41 1981 Chevrolet Chevette
(1100,1101,1102,1104 thur 1141
75
02 7,600.00 g8,80Q.00
8 1982 Ply Reliant
(4185-4102)
5 1981 Ply Reliant
(41931 4104, 41951 4198, 4199)
13
G3 10,500.00 42,000.00
4 1981 Ply Gran Fury
(2296-2299)
G4 11,800.00 35,400.00
3 1982 LTD Crown Victoria Sta. Wagon
(4178-4180) 11,800.00 23,600.00
2 1981 Chrysler Lebaron Sta Wagon
(4175,4177) 11,300.00 11,300.00
1 1981 Chevrolet Suburban
_ 6 -
10141
110141 '''
„ r
�
Vpt�y dye p�app� �y�R+,��c�iW; pt�jlp+p�y# �t /�i�t�t r� +�
ERtCLG R�.pLACGi7tH acHtLULG 006L/
G6
9,400.00
i12,8o0►(�0
12
1982 Dodge Tradesman Vbh
,
-.
(1146-1157
07
4
1982 Dodge Sporitsman Wagan Vats
1
10,800,00
431200,00
(1158-1161)
1982 Dodge Maxi Van (15 Pass)
14,900,00
i4,90000
6
(4181)
1981 Dodge Sportsman Vain (15 Pass)
14,900�00
89,400.00
2
(3192-31961 & 3199
1081 Ply Voyager Wagon (15 Pass)
14,900600
29,800400
(3197 & 3198)
13
7
1982 Cushman Truckster
4,200.00
29,400.00
(S-30 thur S-36)
Motor
Pool Wrecker
8900.00
8.900.00
1145
1981 GMC 1 Ton Chassis
,
TOTAL $1,027,000,00
GRAND
TOTAL =$2,668,300.00
10141
i tLAA RT
!D8 liSCALL�Y� 88/89
POLICE PATROL-4 YRS -
OTHER POLICE & FOOL 6 YRS -OR 70,006 Mile (1983)
CATE�t�RY_ b. VgHICL'ES FSTIMATEi� �PLAC�t�t��'
COST__PER._,Y"ICLE ` 0, ZAL
1
P1 PATROL CARS
33 1985 Dodge Diplomat $11,000.00 $363,000.00
000 To 334)
P2
UNMARKED COMPACTS & FULL SIZES
4
1983 Chev. Impala (162
15
1983 Ply Gran Fury
-
(23812391240,241,242,243,244,245,246,
247,248,268,269,270,270
4
1983 Ply Reliant
(2790280,281,282)
7
1983 Ford LTD
(585,586,587,588,589,591,592)
27
UNMARKED COMPACTS & FULL SIZES 11,000.00
297,000.00
P3
OTHER (POLICE) VEHICLES
1
1983 Ply Wagon (485)
1
1983 Dodge Wagon (495)
1
1983 Dodge Ram Van (497)
_
1
1983 Dodge Ram Panel Van (498) 11,300.00
45,200.00
4
OTHER (POLICE) VEHICLES
P6
OTHER (POLICE) VEHICLES
-'' 5
1983 Dodge Wagon (186,188,189,190,191)
— 8
1983 Dodge Ram Wagon (192,193,194,195,
196,197,198,199)
4
1983 Dodge Ram Van Wagon
(481,482,4831485)
17
OTHER (POLICE) VEHICLES 11,300.00-
192,100.00
10141
t
s .
VtHICLE
RIPLAORMM A"C1{R$ U
21
1083 'Pantiat I#atthbatk
(220b�2220)
02
it
1983 Ply Reliant
(4108-4117o& 4148)
G3
2
1983 8uitk Laebra
(4102.4103)
04
i
61900.00
8,000.00
144,900.00
88,000.00
5
1983 Pord LTD Stationvagbn
12,300.00
61,500.Od
(3153,3154,4147,4183,4184)
G5
0
G6
3
1983 Dodge Ram Van
(1162-1164)
9,900.00
29,700.00
G7
3
1983 Ply Wagon
(315193152 6 3155)
15,600.00
461800.00
G8
4
1983 E-Z-GO GT7 Trucketer
(S1-S4)
4,400.00
17,600.00
TOTAL
$1.285,800.00
T
_-
1 014 1
DAtt, July' 170 1986 FILE:
to �oaorable Mayor and_
Members of the City SUBJECT Certificates of
Commission participation in a lease"
Purchase Agreement
REFERENCES:
XpOM.
Cesar H- Odio
city Manager ENCLOSURES
It is recommended, that the attached Fmergenge !
Ordinance approvng the acquisition by the
Cit of Miami of ..certain Government Services
minst.ra ion hPavv eout�inen t roug e
sale of Certii
Lease -Purchase
terms thereof
connection the
exceed,
appropriate ofi
incidental act
to accomplish
approved.
-
---
Cates of Participation in e-
Agreement; providing for the
and certain matters in
ewith; in an amount no 0
and aut orizinj
Ccers of the City to take suc
ons necessary and appropriate
he Lease Purchase financing be
Attached is an emergency ordinance which approves certain terms and
conditions of the financing of the future acquisition of General
Services Administration heavy equipment through a tax-exempt
for lease -purchase and
Certificates of Participation program
authorizes the City Manager and the Finance Director to negotiate and
approve the final form of certain particulars in regards to this
transaction.
At the July 10; 1986 Commission meeting the City Commission
authorized and directed the City Manager to select, negotiate and
execute an agreement for managing underwriter services in connection
with the purchase agreement eement offering of for Certificates
City f Particivehiclesand in a
heavy
lease g
equipment financing.
After receiving and reviewing responses to a request for proposals,
the City Manager has selected and negotiated with the underwriters
whose submitted proposals were the most responsive to the City's
needs. The underwriting group selected is headed by Shearson Lehman
Brothers, Inc./Bear Sterns with the participation of Grigsby
Brandford & Co. (a Black owned underwriting firm), 17 Securities of
Florida, Inc. (a local Hispanic firm) and AIBC Financial Corporation
(a local Hispanic firm).
a
e
Honorable Mayor and
Members of the City
commission
Page 2
p attached Emergency Ordinance will allow the use
of this r tax xempte fnancing mechanism to allow the City to spread
the cost of heavy equipment purchases over a number of years as
opposed to the one time large outlays of cash at the time of
purchase. The program will provide funds available for equipment
acquisition; however, the actual appropriations for expenditures will
till be controlled by the City Commission through the annual budget
process.
I
10141
Motor Pool Purchases
of
Automobiles in FY-85
$ 632,233
Motor Pool Purchases
of
Automobiles in FY-86
$
City Garage Purchases
of
Heavy Equipment in PY-85
$2o685t640
City Garage Purchases
of
Heavy Lquipment in rY-86
$ 254s019
Total
$3,8610785
0141
to Hbhotable Mayor and
Members of the City
Commission
FROM
Cesar M• Odio /V
City Manager 4t
GALE July
uiy 23, 1986 PILE
SUBJECT Certificates of
Participation in a Lease—
Purchase Agreement keplacetaet
REFERENCES Ordinance
ENCLOSURES
It is recommended that the attached gmergency
Ordinance_ approving the, acquisition. by the
City, of Miami of certain Government Services
Administration heavy_ equipment through the
sale of Certificates of Participation in a
Lease —Purchase Agreement; providing for the
terms thereof and certain matters in
connection therewith; in an amount not to
exceed _$25,000,,000_; and authorizing
appropriate officers of the City to take such
incidental actions necessary and appropriate
to accomplish the Lease Purchase financing be
approved.
Attached is a revised emergency ordinance replacing agenda item 25
distributed with the agenda package. The revision to this ordinance
consist of additional information regarding the maximum principal
amount, the effective interest rate limitation and the maximum length
of maturity of twenty years.
The emergency ordinance approves certain terms and conditions of the
financing of the future acquisition of General Services
Administration heavy equipment through a tax-exempt Certificates of
Participation program for lease -purchase and authorizes the City
Manager and the Finance Director to negotiate and approve the final
form of certain particulars in regards to this transaction.
At the July 10, 1986 Commission meeting the City Commission
authorized and directed the City Manager to select, negotiate and
execute an agreement for managing underwriter services in connection
with the proposed offering of Certificates of Participation in a
lease purchase agreement for certain City vehicles and heavy
equipment financing.
4 0141
Honorable Mayor and
Members of the City
commission
Page 2
After receiving and reviewing responses to a request for proposals,
the City Manager has selected and negotiated with the underwriters
whose submitted proposals were the most responsive to the City's
needs. The underwriting group selected is headed by Shearson Lehman
Brothers Inc./Bear Sterns with the participation of Grigsby
Brandford & Co. (a Black owned underwriting firm), M Securities of
Florida, Inc. (a local Hispanic firm) AIBC Financial Corporation (a
local Hispanic firm) and L.F, Rothchild, Uterberg, rowbin, Inc.
The approval of the attached Emergency Ordinance will allow the use
of this tax—exempt financing mechanism to allow the City to spread
the cost of heavy equipment purchases over a number of years as
opposed to the one time large outlays of cash at the time of
purchase. The program will provide funds available for equipment
acquisition; however, the actual appropriations for expenditures will
till be controlled by the City Commission through the annual budget
process.
OfTY Of MIAMI
DADE 0OIJNTX*r*,tc&1t1A
MIAMI REVIEW
AND DAILY RECORD
Published Daily except Saturday, Sunday and
Legal Holidays'
Miami, Dade County, Florida.
STATE OF FLORIDA
COUNTY OF BADE:
Before the undersigned authority personally appeared
Octdma V. herbeyrs, who on oath says that she Is the Supervisor
of Legal Adverilsing of the Miami Review and Daily Record, a
daily (except Saturday, Sunday and Legal Holidays) nswspaper,
published at Miami In Dads County, Floridr, that the attached
copy of advertisement, being a Legal Advertisement of Notice
In the matter of
CITY OF MIAMI
ORDINANCE NO. 10141
In the ...... , ..... X X X ....................... Court,
was published In said newspaper In the Issues of
July 31, 1986
Afflant further says that the said Miami Review and Daily
Record is s MwsPaPerr published at Miami in said Dade County,
Florida, and that the said newspaper has heretofore been
continuously published In said Dade County, Florida. each day
(except Saturday, Sunday and Legal Holidays) and has been
entered as second class mail matter at the post office in
Miami in said Dads County, Florida, for a period of one year
next preceding the first publication of the attached copy of
adnrtlwment, and alflant further says that she has neither
Paid nor Promised Dry person, firm corporatlon any discount,
rebat co
m
m
isalon or refu a urposs of securing this
adv merit for publicati the id news spar,
GJ
� c
�me this
r�
3.1.st of;. ' �6.
(SEAL)
My Commisaf41, /07�/
All lhlerested pefsonS Will take notice that on the Nth de_y of July,
1986, the Oily 0oh1fith16h of Milani. Fltftida, adopted the following
tilted ofdinance(s):
f91�#biPlAf+f�E Nt�l, �f118A
AN EMERGENCY ORDINANCE OF THE CITY OF MIAMI,
FLORIDA, AUTHORIZING THE ISSUANCE OF NOT TO
EXCEED $40,000,006 PRINCIPAL AMOUNT OF GENERAL
OBLIGATION REFUNDING BONDS. SERIES 1986, OF THE
CITY FOR THE PURPOSE OF REFUNDING CERTAIN OF THE
CITY'S FIRE FIGHTING, FIRE PREVENTION AND RESCUE
FACILITIES BONDS, HOUSING BONDS, STORM SEWER
IMPROVEMENT BONDS AND STREET AND HIGHWAY
IMPROVEMENT BONDS, ALL DATED JUNE 1, 1984: DECLAR-
ING AN EMERGENCY TO EXIST; PROVIDING THAT SUCH
GENERAL OBLIGATION REFUNDING BONDS SHALL;
SUBJECT TO CERTAIN LIMITATIONS, CONSTITUTE GEN,
ERAL OBLIGATIONS OF THE CITY; AND THAT, SUBJECT TO
SUCH LIMITATIONS, THE:rULL FAITH, CREDIT AND TAXING
POWER OF THE CITY SHALL BE IRREVOCABLY PLEDGED
FOR THE PAYMENT OF THE PRINCIPAL OF AND THE INTER-
EST ON SUCH GENERAL OBLIGATION REFUNDING BONDS;
MAKING CERTAIN COVENANTS AND AGREEMENTS IN
CONNECTION THEREWITH: APPROVING THE FORM OF
AN ESCROW DEPOSIT AGREEMENT; AUTHORIZING THE
NEGOTIATED SALE OF SUCH GENERAL OBLIGATION
REFUNDING BONDS, ,APPROVING THE FORM OF AND
AUTHORIZING THE EXECUTION OF A BOND PURCHASE
AGREEMENT;- AUTHORIZING THE CITY MANAGER TO
AWARD THE SALE OF THE BONDS AND APPROVING THE
CONDITIONS AND CRITERIA OF SUCH SALE: APPROVING
THE FORM OF A PRELIMINARY OFFICIAL STATEMENT;
APPOINTING A.PAYING AGENT, CO -PAYING AGENT, AND
BOND REGISTRAR: AUTHORIZING CERTAIN OFFICIALS AND.
EMPLOYEES OF THE CITY TO TAKE ALL ACTIONS
REQUIRED IN CONNECTION WITH THE ISSUANCE OF SAID
BONDS: AND PROVIDING AN EFFECTIVE DATE,
ORDINANCE NO. 10135
AN EMERGENCY ORDINANCE ESTABLISHING A NEW SPE-
CIAL REVENUE FUND ENTITLED: "OVERTOWN JOB TRAIN-
ING AND DEVELOPMENT PROGRAM" APPROPRIATING
FUNDS FOR ITS OPERATION IN THE AMOUNT OF $24,000
FROM THE UNITED STATES DEPARTMENT OF LABOR, AND
AUTHORIZING THE CITY MANAGER TO ACCEPT THE GRANT
AWARD FROM THE UNITED STATES DEPARTMENT OF
LABOR AND TO ENTER INTO THE NECESSARY AGREE-
MENT WITH THE SOUTH FLORIDA EMPLOYMENT AND
TRAINING CONSORTIUM TO ACCEPT THE GRANT AND
IMPLEMENT SAID PROGRAM. CONTAINING A REPEALER
PROVISION AND A SEVERABILITY CLAUSE,
ORDINANCE NO. 10136
AN EMERGENCY ORDINANCE PROVIDING THAT, COM-
MENCING EFFECTIVE OCTOBER 1. 1986. AN ANNUAL FEE
SHALL BE ASSESSED AGAINST ALL COMMERCIAL ESTAB-
LISHMENTS; SAID FEE TO OFFSET THE COST OF TRASH
AND STREET CLEANING SERVICES PROVIDED BY THE CITY;
CONTAINING A REPEALER PROVISION AND A
SEVERABILITY CLAUSE.
ORDINANCE NO. 10137
AN ORDINANCE AMENDING ORDINANCE 9939, ADOPTED
DECEMBER 20, 1984, AS AMENDED, THE CAPITAL
IMPROVEMENT APPROPRIATIONS ORDINANCE, BY
ESTABLISHING A NEW PROJECT ENTITLED: "PRELIMINARY
BOND EXPENSE" AND APPROPRIATING FUNDS FOR IT'S
OPERATION 1N THE AMOUNT OF $110,000 FROM GENERA L
OBLIGATION BONDS-1986 ISSUES; CONTAINING A
REPEALER PROVISION AND A SEVERABILITY CLAUSE.
ORDINANCE NO, 10138
`AN ORDINANCE AMENDING ORDINANCE NO. 9939,
ADOPTED DECEMBER 20,-1984, AS AMENDED, THE CAPI-
-.TAL IMPROVEMENT APPROPRIATIONS ORDINANCE, BY
ESTABLISHING A NEW PROJECT ENTITLED; "MIAMI.
STADIUM`*'AOOF REPAIRS", AND APPROPRIATING FUNDS
FOIi THIS PROJECT IN THE'AMOUNT OF $475,000 FROM
CAPJTALI�JMPROVEMENT FUND: -'FUND: BALANCE;
d,C?;61�'.AIId r. A REPEALER PROVISION AND A
F--:SE.V�ROR!! ITVila et tec y -
_ ORDiN
•
AN ORDINANCE AMENDING ORDINANCE NO, 9939..
ADOPTED DECEMBER 20, 1984, AS AMENDED. THE CAPI
TAL IMPROVEMENT APPROPRIATIONS ORDINANCE. By
ESTABLISHING A NEW CAPITAL IMPROVEMENT PROJECT
ENTITLED: ,COCONUT GROVE EXHIBITION CENTER
TELESCOPIC SEATING". APPROPRIATING FUNDS FOR THIS
PROJECt.IN THE AMOUNT OF gf71?.000 FROM CAPITAL
ImprioVLMLNT t'LOM FUND Fr.)REItY_ G(,t1YAINING A
tIETPF_ALL" I'llt- VISION AND A t LVEEiAtRIE.i t'Y (A AW f-,
ORDINANCE NO. 1040
AN OkbiNANCE AMENbING SECTIONS 1, 2, 4 AND 5 OF
bRCINANCE NO. 10086, AbOPTED MARCH 1$, 1986 WHICH
trltAftb fHS "CITY OF MIAMI YOUTH Ab SORY COUN•
G-`t'1�v1 PAOVlbt THAT SUCH COUNCIL MAY BE
11 itvi rAb kihmlImeCiI. to 15146VIbINOt HAT COUNCIL
TREASURER AND THE OFFICE OF SERGEANT At ARM'
WHO SHALL ALSO SERVE AS PARLIAMENTARIAN, AUTHOR
(ZING THE CITY COMMISSION TO APPROPRIATE FUNDS
FOR COUNCIL EXPENSES AND THAT STRICT FISCAL.
ACCOUNTABILITY BE MAINTAINED AS MAY BE CONTAINED
IN CITY ADMINISTRATIVE DIRECTIVES OR POLICIES AS
ESTABLISHED BY THE CITY MANAGER OR THE FINANCE
DIRECTOR; CONTAINING A REPEALER PROVISION AND A
SEVERABILITY CLAUSE.
ORDINANCE NO, 10141
AN EMERGENCY ORDINANCE AUTHORIZING THE ACOUI-
SITION BY THE CITY OF MIAMI OF CERTAIN PROPERTY BY
LEASE -PURCHASE; AUTHORIZING THE PREPARATION,.
EXECUTION AND DELIVERY OF A LEASE -PURCHASE
AGREEMENT BETWEEN AN EQUIPMENT LESSOR AND THE
CITY, AS LESSEE, PURSUANT TO WHICH SUCH ACQUISI-
TION SHALL BE ACCOMPLISHED: AUTHORIZING THE
PREPARATION, EXECUTION AND DELIVERY OF AN AGENCY
AGREEMENT BETWEEN THE EQUIPMENT -LESSOR AND AN
AGENT, PURSUANT TO WHICH THE EQUIPMENT' LESSOR
WILL ISSUE CERTIFICATES OF PARTICIPATION IN SAID
LEASE -PURCHASE AGREEMENT; AUTHORIZING THE PREP-
ARATION OF A CERTIFICATE PURCHASE AGREEMENT
BETWEEN THE EQUIPMENT LESSOR AND CERTAIN
UNDERWRITERS, PURSUANT TO WHICH THE LESSOR WILL
SELL SUCH CERTIFICATES OF PARTICIPATION TO SUCH
UNDERWRITERS, WHO IN TURN, WILL MAKE A PUBLIC
OFFERING OF SUCH CERTIFICATES; AUTHORIZING THE
PREPARATION OF A PRELIMINARY OFFICIAL STATEMENT
AND A FINAL OFFICIAL STATEMENT, EACH TO BE USED IN
CONNECTION WITH OFFERING SAID CERTIFICATES OF
PARTICIPATION TO INVESTORS; RATIFYING AND
CONFIRMING THE SELECTION OF UNDERWRITERS;
APPROVING THE NEGOTIATED SALE OF THE CERTIFICATES
IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED
$25,000,000 TO THE UNDERWRITERS AT AN EFFECTIVE
INTEREST RATE NOT TO EXCEED NINE AND ONE-HALF
PERCENT (9•E/2%) IN ONE OR MORE MATURITIES, NONE
OF WHICH SHALL EXCEED TWENTY (20) YEARS; AUTHOR-
IZING APPROPRIATE OFFICERS OF THE CITY TO TAKE
SUCH INCIDENTAL ACTIONS AS SHALL BE NECESSARY
AND APPROPRIATE TO ACCOMPLISH THE LEASE -
PURCHASE FINANCING OF SUCH PROPERTY,INCLUDING
BUT NOT LIMITED TO THE ESTABLISHMENT OF RESERVE
FUNDS OR THE PROCUREMENT OF CREDIT ENHANCE
MENT TO SECURE SUCH CERTIFICATES OF PARTICIPATION;
REPEALING INCONSISTENT ORDINANCES: PROVIDING
THAT THIS ORDINANCE SHALL GO INTO EFFECT IMMEDI-
ATELY UPON ITS ENACTMENT; AND DISPENSING WITH
THE READING OF THIS ORDINANCE ON TWO SEPARATE
DAYS BY A FOUR -FIFTHS VOTE OF THE COMMISSION.
ORDINANCE NO. 10142
AN ORDINANCE AMENDING THE ZONING ATLAS OF ORDI.
NANCE NO. 9500, THE ZONING ORDINANCE OF THE CITY
OF MIAMI, FLORIDA, BY CHANGING THE ZONING CLASSI-
FICATION OF APPROXIMATELY 190.240 NORTHWEST 20TH
STREET AND APPROXIMATELY 1920.1990 NORTHWEST 1ST
PLACE (BOTH SIDES OF 1ST PLACE), MIAMI, FLORIDA,
(MORE PARTICULARLY DESCRIBED HEREIN) FROM CG•2/7
GENERAL COMMERCIAL TO RG•215 GENERALRESIDEN•
TIAL; MAKING FINDINGS; AND BY MAKING ALL THE NEC-
ESSARY CHANGES ON PAGES 21 AND 23 OF SAID ZONING
ATLAS MADE A PART OF ORDINANCE NO.. 9500, BY REF-
ERENCE AND DESCRIPTION IN ARTICLE 3, SECTION 300,
THEREOF; CONTAINING A REPEALER PROVISION AND A
SEVERABIUTY CLAUSE,
(#4056) op
MATTY HIRAI
CITY CLERK
CITY OF MIAMI, FLORIDA