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tSR$Ti�ANGE No � '� � "� � . •
NANCV, AlmNON Ci f NAN AN C3 I CE .NO. 9291,
ADOPTED �Y
.T�iE
9,/ 19glr ENTITLES "AN ADINANCE AUTHoktING
THE ISSUANCE OP 40t =E=NG $2 yO8bp000
pA xzNG REVENUE t6n nioNALLY SE-
,(AO
CtInD " EY NbN AE VALOREM REVENUES) ., Off'- THE
'CITY.OF..MIAMI# .16RIDAFOR THE PURPOSE 8F
®_
y PROVIDING FUNDS_ FOR, PAYING :THE COST Or
!
AC�UYRtNG AND CONSTRUCTING, AN.bFF�sT)tEET
PARHING FACILITY; PROVIDING FOR THE PAYS
MENT OF'SUCH BONDS tsb THE INTEREST THEREON
THE' NET REVEN�IE5 .0' ,THE OF" STREET
PARKING FACILITY SO FINANCED AND CERTAIN
P
DESIGNATED NON "�,D' tIALOREM REVENUE; SOU CES
OF -, THE CITY; DESCRIBING THE TERMS,' SECURITY
AND OTHER PROVISIONS ,SUCH BONDS; SETTZI�G
FORTH'THE RIGHTS AND REMEbIES OF THE'HOLDtAS
OF SUCH BONDS;'PROVIDING,SEVERABILITY;.DE.
CLARING THE ORDINANCE'AN.EMERGtNCY MEASURE;.
AND DISPENSING WITH.:THE READING:"OF:THE
ORDINANCE'ON TWO„SEPARATE DAYS"'T0,ADD:A„
1 I
STATEMENT CONCERNING COMPLIANCE WITH SECTION,:_
218.3'85,.'FLORIDA- STATUTES, IN''THE %BOND„FORM;.
TO PROVIDE"THAT BOND 'DETAILS MAY BE FIXED
BY',RESOLUTION; TO ADD TO,THE REQUIREMENTS
1,,
FOR THE ISSUANCE',OF..,COMPLETION,BONDS; TO
•— PROVIDE THATI THE'_.C.ITY WILL '.ISSUE.-,N0.ADDI-,`
—
TIONAL'BONDS'.PURSUANT TO ,ORDINANCE N6:'7066,
ADOPTED ON;:NOVEMBER.21, 1962; TO`CLARIFY'.
THAT THE,PLEDGE.OF DES IGNATED`.REVENUES'-IS'
SUBJECT TO;, THE PRIOR CLAIM •.OF THE " CITY,' S
OUTSTANDING SPECIAL OBLIGATION UTILITIES
SERVICE TAX 'BONDS oJSERIES A): DATED,;FEBRUARY
_
1, 1963; TO'CORRECT CERTAIN:MINOR.ERRORS IN:
•TEXT;;,DECLAR ING-THE.ORDINANCE'AN EMERGENCY
-
DISPENSING,WITH:,THE READING
MEASURE;:AND OF
HE ORDINANCEON TWO SEPARATE'DAYS.
WHEREAS, the City Commission has determined that the
amendments to Ordinance No. 9291 (the ",Bond Ordinance',)' described
in the tit le hereto are necessary to be adopted' at this'; tune
for, among other,reasons'#"the obtaining of bondinsurance and
f Bndsuccessful marketiiionthe tAil,
...
authorized by the. Bond Ordinance;
NOW, THEREFORE ► BE IT ORDAINED aY THE : COMMISS10N, OF,
THE CITY OF MIAMI FLORIDA:
M imp
_- - -
. i ' v{.. w'�i'S �l.r'O Si4- r ...xl+••jl;RlxiSMT•z-
BkF,:
saction� Ordinance No. 929ill, do ida by `tha i�y
co ii0sion 'On %Tiny 9, 1991 Is hetaby, , mended as 10116ws
—
(a) In Sectit�n .'fob 'o�niint the "Statement_ f
Validation" add the fallowing new statement:
'istatefinent of Compliance with
—
Section:2- Florida Statute
This Bond iS one of a series of bonds which.
were'. issued. in cofipiiance Stith the provisions
of Section Florida Statutes."
(b). In Section 207 amend `the second; third and
fourth paragraphs ,to .read as follows:
"Before the Bonds'shall,be issued under
the provisions of this Section the City;',
Commission shall'adopt_a resolution, .fixing
the amount and the details:of.such Bonds, :and
providing for:the capitalization'of' nterest
on the Bonds. ,The Bonds 'issued tinder :the .
provisions'of thin Section:shall be,''dated,
shall be stated to mature (subject; to the,
right of prior redemption as hereinafter set
forth)" on the lst' day ' of .August, in such ` year
or.years.not more than `.forty years after' -the
date of the Bonds, shall have such -Paying
-
Agents,..`and any Term Bonds,shall;have such
Am en ortization Requirem is and„may be -made
re -such
times 'and prices (subject to'
'
the provisions of Article III of. this 'Ordinance),."
all.., as may be provided bythe resolution men-.
;.
tioned above. S Bonds shall`beexe'cut'ed in
hereinaboveyset fthwith
the form' and ;manner _
,.
such changes as may,. be:necessar or aPprop riate
to.conform;to the provisions of the resolution
mentioned above and shall be deposited: with
the Fiscal Agent for.delivery, but.before such
Bonds shall be delivered by the'. Fiscal Agent,:
they ha led with the Fscal'Agent'th e s11 be fie .`_
following:= , ,
_
-. (a) a coPy.f.certified by. the City
Clerk, of . th�:s ordi nance;:
(b) a Copy', certified by the City
• Clerk, of'the, respluta.on mn.oned",above;
copy, .'. certifed-by the City
Cleric, of the resolution adePtec by the
- City COmmis�i� ' vWarding such Bonds:,
- a
�s
E
��
'such nondt;snd directing`the delivery of
such Bonds ta or upon the order ,of the
pure a thee n natrisdspn pay�nr�t of
the purchese'price,�thsrein get forth: and
(d)npan3oh of.the it Attorney
Mating that, the issuance o:the.�onds
has been duly, authori2ed arid, that 'all
conditions prec6dent to the,.deiivery of
the �onds'have been fulfilled..
then the 'documents mentioned above in' this -
•
Section shall` , have been 'filed +:ith the Fiscal
Agent and' then the Bonds described : in the;
ordinance and resolutions'mentioned,in olsuses,
(a), (b) and (c) - of this .Section shall have
been executed ,as required by this ordinance,
the Fiscal Agent.shall.'deliver such Bonds at
'
'one time to;or uponthe 'order.of the purchasers'
named in the' resolution 'mentioned in said,lclause
(a;) r but only uponpayment to -.the Fiscal,�gent; "-
-
of the purchase price, of such Bonds. The:'Fiscal
Agent shall be entitled to rely upon. such,
-
resolution. as' to all matters statedtherein.
-1
Simultaneously with :de
livery, d r o the he a ve y f
Bonds the Fiscal Agent shall apply, the.proceeds
of the Bonds'as'follows:'
(a) deposit the accrued interest. and'
any premium receive in the BonService
Account,
(b). deposit"'in the Bond Service`Account
an amount ;equal to the interest to be.'-
capitalized -on the Bonds pursuant`:`to the,
resolution', described in the second paragraph' `
„
of`this Section,
he Reserve -Account
(c) deposit in t count an
amount equal to the Reserve`: Account :Require
ment'following.',the issuance'';of, the Bonds,.:
and
(d).deposit the ,balance Of such proceeds
in the Construction Fun' d"
In..Se paragrap
et ion 208 amend the :second
to read as follows:
_
"Before ah fonds shall be issued;4ndar
>
Ithe proviiions' ofthis �Sgctionth-e.
shall: adept ' oirdinn,ce atthoriirg
c uhondoad fi�in tii there�� aid
.'
zncrsasinMP inat�d RovanQunt
sues,:ncc�y�
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H
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i
za
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i such th t the pro rtiqft of, Designated ' kavo-hues
ar. bh6%4n >iff the certific&td iletit,iched ' itl , 6iause,
,•
We) I below `to Makiyhui ann4U` A . , Pkingi I Arid An i
-
terest Requira te)it.s iaYiy1i'Sdal, Year' 6h- ababunt
of all Dond 6ut9t ` ,� j
ands ng r�lud�n thechirl s to
. t
be issued ' - ursuah - to: this .,eotioh► ra ► s the
same as the prertion of�Yesignatedeveue
to a i tiur -annual priricip l,.erid interest egt�ir
Merits ofallBond's theretbore issued.
as �'ori,secount
i
the day': such Bends ws
�r� rssu the B
ed. bnds y
—
issued under the provision �s.section shall
of th r
be, stated tb mature on,Auqust l'in.such year or..
ye'ars::not more than forty years after the date.
of the Bonds The Bonds may be made redeemable
at such times and. rices �sub`eot fo, the ,
p pi6v1'.sions
of Article`I�I'of this'Ordinance)'and any Term
Bonds shall have such Amoitization Requirements,
all As may be provided, by resolution adopted by
the City. Commission piior..to the issuance of.such
Bonds. Such completion -Bonds shall be executed
substantially in`the`form and manner hereinabove
set forth, with such changes as maybe. necessary
or appropriate to -'conform to,the'provisions of
the ordinance authorizing the issuance of such
Bonds';.and shall be deposited with the Fiscal
—
Agent for deliver-y,.but prior to or simultaneously.:',
with the delivery of such Bonds by `the; Fiscal
Agent there shall be filed with the Fiscal,:Agent
the following:."
In coon 208 add
Section a new, clause 'Ce) . to read `
as follows:
-
(e) a certi si ned b the Fin'an
Y-:
-
,.
etting . forth,' a
Director s .the,'.;amount of 'Designated
venues received by:the,City, during any'con-
Recutive 12 month period in the preceding 18
months."
(e) In Section 509 amend the Section hea di n9 to
read as follows: :
Section 509. Application of Designated
Revenues; Covenant Against Issuance of Additional
Bonds:Under Ordinance No. 7066, Adopted Novembers
-
f
Section 509,amend'the second. sentence
thereof to read as follows:
Such budgeted amount sal k�e, irst
:..
charge against the Desidnatid kaven'uez
I
i
:
r-
reoaivad in Ouoh,next ensuing p��ca Year
and upon the redaipt by the:' City, of
be6ignated;AeVdnuea i' s h next eniqu n
Fiscal Year euoh.�ignsedevenueahal1,
=_
ub�ect to, the .g5r16r
g on ; Utslitiea ,
1
�er1��3 T�i�btnb� ��e����ed)' dated��ebrudry
-
+-�
.
1 ► p _ as r,eceiv6d 14ith
the, rise agent, for the eredt of thete
account:Until.the &mount.so depbs tad
ett�ai such budgeted amount'."
„Cg) In Sectionb9 add a new sentence at; the
`. end of said Section to read as follows:
"The city covenants for'the.be'nefit of the
holders;of the Bonds that:it wild issue no bonds,
:.
in addition to_.the presentl outs g
tandin Spec„ial
,g, i Bonds (Series
obligation Utilities Service Tax
A), of the::City, dated February l,,1963,
ursuant o the.aut y by Ar
p authority conferred ticle
;II of,: Ordinance No...7066, adopted>by~the
City Commission on November, 21, 1962,.either
to municipal projects or
to ref.undetheaoutstal
anding Series: A Bonds
(h) In Section 510 in the second _line of the
proviso delete the word!."Resolution" and insert the: word
(i) In Section 701.in the second:sentence of the
ara
second 'r p lowing.t for , i
o p g a h"thereof.fol he word "there ", nsert,
he words othert t . " han.Designated Revenues,".
(j) In Section 1001 in the first `sentence of the
second, paragraphthereof, delete the word,' resolution"and: insert
-
the word .. " ordin -
ance'."
(k) In Section 1210 in the first; sentence. there'
of, delete the word " "= word "Ordi e."
Resolution and. insert' nanc
Section 2. This Ordinance is hereby declared to'be.'
= an emergency measure on the ground of urgent` ,pubI;L6 need for the
ME
preservation of peace, health, safety or property: and tha.s` Qrdi�
nanoe, upon being passed by s Vote of not less than.foux�f�f�h�
o.
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