HomeMy WebLinkAboutR-82-0011RESOLUTION NO. 824_4
A RESOLUTION RATIFYING APPROVING AND
CONFIRMING PAYMENT IN THE AMOUNT OF
$31,551.36 TO THE FIRM OF BROWN, WOOD,
IVEY, MITCHELL & PETTY FOR LEGAL SERVICES
PROVIDED TO THE CITY FROM OCTOBER, 1979,
AND EXTENDING TO APRIL, 1980, RELATED TO THE
COMPLAINT FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION, A14D FOR LEGAL SERVICES
RENDERED THE CITY IN CONNECTION WITH
THREE ISSUES OF BONDS FOR PUBLIC IMPROVE-
MENTS IN THE AMOUNT OF $9,150,000. WHICH
WERE SOLD IN AUGUST, 1981.
WHEREAS, the City retained the firm of Brown, Wood,
Ivey, Mitchell and Petty, as bond counsel for the defense of a
complaint filed with the Securities and Exchange Commission in
1979; and
WHEREAS, the City was able to successfully sell
general obligation bonds in the amount of $9,150,000, in August,
1981; and
WHEREAS, payment for these legal services was delayed
for approximately two years;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION
OF THE CITY OF MIAMI, FLORIDA:
Section 1. Payment in the amount of $31,551.36, to
the firm of Brown, Wood, Ivey, Mitchell & Petty, for legal services
provided to the City from October, 1979, and extending to April,
1980, related to a 1979 Securities and Exchange Commission complaint,
and in connection with three issues of Bonds for public improvements
leading to sale of the General Obligation Bonds in the amount of
$9,150,000 in August, 1981, is hereby ratified, approved and
confirmed.
PASSED AND ADOPTED this 14 day of January , 198 Z.
7
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H . ONGIE , CITY CLERK
PREPARED AND APPROVED BY:
- 'e'&z
R B RT F. CLARK
DEPUTY CITY ATTORNEY
APPI1 ' 7D ASS T� FORM�,(�ND CORF CTNESS
Maurice A. Ferre
MAURICE A. FERRE, MAYOR
cITY cOMM1QQ1V11q
MEETING OF
JAN14 =2
Ma . 8 2
...........................
KIJOX,R, , CITY
CItY OF MIAMI, FLORIDA
INTER•0FFICE MEMORANDU"81 t?oi, 13 _ A'A 8 CL�
°o Howard V . Gary
City Manager
���• Carlos E. Garcia
Acting Director
Finance Departmen
DATE November 10, 1981 FILE.
SU9JE';T Agenda Item
REFERENCES
ENCLOSURES.
It is recommended that the enclosed
Resolution be passed by the City
Commission ratifying payment to the
firm of Brown, Wood, Mitchell, Ivey,
& Petty, in the amount of $31,551.38
for legal services rendered in con-
nection with the S.E.C. Complaint
and the sale of General Obligation
Bonds in August, 1981.
The firm of Brown, Wood, Ivey, Mitchell & Petty, was hired in
1979 to provide legal services for bonds to be sold during that
year. This sale had to be cancelled due to a complaint filed
with the S.E.C. The firm has been representing the City since
1979, on this issue and they have assisted in preparing several
Official Statments due to change in the issue size. The City
successfully sold $9,150,000 General Obligation Bonds in August,
1981.
Due to the lenghty time period involved, the firm has been paid
$31,551.36. We are now requesting that the City ratify this
payment.
82-11