HomeMy WebLinkAboutItem #42 - First Reading OrdinanceORDINANCE NO.
AN ORDINANCE AUTHORIZING THE ISSUANCE,
SUBJECT TO THE ELECTION HEREIN PROVIDED FOR
$7,000,000 GENERA4 OBLIGATION BONDS OF THE
CITY OF MIAMI, FLORIDA, FOR THE PURPOSE OF
PAYING THE COST OE,,—D8SIGNING, CONSTRUCTING,
DEVELOPING,EXTENDING, ENLARGING AND IMPROVING
THE BAYFRONT PARK OF11;;ITHE AMERICAS IN THE CITY
f OF MIAMI, INCLUDI,�JG FACILITIES PROPERLY
APPURTENANT THER AND THE IMPROVEMENT OF
LAND FOR SUCH PU POSES AND THE ACQUISITION OF
EQUIPMENT THEREFOR, ALL SUCH ACTIVITY
CONSTITUTING THE BAYFRONT PARK REDEVELOPMENT
PROJECT; PROVIDING FOR THE LEVY AND
COLLECTION OF �D VALOREM TAXES TO PAY SUCH
BONDS.
BE IT ORDAINED B THE COMMISSION OF THE CITY OF MIAMI,
! FLORIDA:
r
Section 1, For jthe
� purpose of paying, with any ether
available funds, th6-,,c�st of designing, constructing, developing,
extending, enlarging and improving the BAYFRONT PARK OF THE
AMERICAS in the 'City of Miami, Florida (the "City"), including
facilities prcperly appurtenant thereto, the design,
y
construction, dgvelopment, extension, enlargement or improvement
of such facilities, the improvement of land for such purposes,
and the acquisition of equipment therefor, all such activity
constituting the a4front Park Redevelopment Project, there shall
be issued, under the authority of the Constitution and laws of
the State, -of Fl Icr4a, including particularly the Charter of the
City and the Municipal
nicipal Home Rule Powers Act (Chapter 166 of the
Florida Statutes, as amended), and subject to the election
hereinafter providel for, bonds of the City in an aggregate
princip@l am cunt not exceeding Seven Million Dollars
($7,000,000)', such bonds to be issued at one time or from time to
k .
time and to matu�e in, annual installments two (2) to twenty five
(25) year , inclusive, after the issuance date of the respective
bonds, it being estimated and declared by the Commission of the
City (the "Commissicr,") that the probable life of said facilities
is more than twenty-five (25) years after the completion of
acquisition and construction of said facilities.
J
5/16/85
CM/IGA
ORDINANCE NO.
AN ORDINANCE AUTHORIZING THE ISSUANCE,
SUBJECT TO THE ELECTION HEREIN PROVIDED FOR
a7 060,O40 GENERAL OBLIGATION BONDS OF THE
CITY 0° MIAMI, FLORIDA, FOR THE PURPOSE OF
PAYING THE COST OF DFSIGNING, CONSTRUCTING,
DEVELOPING,EXTENDING, ENLARGING AND IMPROVING
THE BAYFRONT PARK OF THE AMERICAS IIJ THE CITY
OF MIAMI, INCLUDING FACILITIES PROPERLY
APPURTENANT THERETO, AND THE IMPROVEMENT OF
LAND FOR SUCH PURPOSES AND THE ACQUISITION OF
EQUIPMENT THEREFOR, ALL SUCH ACTIVITY
CONSTITUTING THE BAYFRONT PARK, REDEVELOPMENT
PROJECT; PROVIDING FOR THE LEVY AND
COLLECTION OF AD VALOREM TAXES TO PAY SUCH
BONDS.
BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI,
-FLORIDA:
Section 1. For the purpose of paying, with any other
available funds, the cost of designing,• con ucting, developing,
extending, enlarging and imprcving,ht BA RONT PARK OF THE
AMERICAS in the City of Mi•m,loda (the "City"), including
facilities properly app t n ht thereto, the design,
construction, development, e�tesion, enlargement or improvement
of such facilities, he impt- vement of land for such purposes,
and the acquisition/cf ;equipment therefor, all such activity
constituting the Bay art Park Redevelopment Project, there shall
be issued, under hI authority of the Constitution, and laws of
the State f Flr�ri4 including particularly the Charter of the
• t
City and t �. tfun1Vq pal Hcme Rule Powers Act ( Chapter 166 of the
Florida S at4tes� as amended), and subject to the election
�t
hereinafter /provided for, bonds of the City in an aggregate
principal amp- nt not exceeding Million Dollars
($ ), such bonds to be issued at one time or from time
to time and to mature in annual installments two (2) to twenty
five (25) years, inclusive, after the issuance date of the
respective bonds, it being estimated and declared by the
Commission cf the City (the "Commission") that the prcbable life
of said facilities is more than, twenty-five (25) years after the !
completion of acquisition and construction of said facilities. I
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