HomeMy WebLinkAboutR-81-0004IMF
RESOLUTION 140, f
A RESOLUTION TRANSFERRING $1s150000
FROM THE CAPITAL IMPROVEMENT FUND TO
THE GENERAL OBLIGATION FIRE FIGHTING
FACILITIES BOND FUND FOR THE PURPOSE OF
PROVIDING FUNDS FOR THE CONSTRUCTION OF
THE FIRE FIGHTING TRAINING FACILITIES
AND CLOSED CIRCUIT TELEVISION SYSTEM
WITH PROCEEDS FROM THE ISSUANCE AND SALE
OF PREVIOUSLY AUTHORIZED FIRE FIGHTING
FACILITIES BONDS TO BE USED TO REIMBURSE
THE CAPITAL IMPROVEMENT FUND IN A LUMP
SUM PAYMENT INCLUSIVE OF INTEREST AT A
RATE OF 6% UPON THE SALE OF SAID BONDS,
WHEREAS, the City of Miami in 1976 passed a $10i000$000
General Obligation Fire Fighting Facilities Bond Issue to
provide funds for the development of such fire fighting facili=
ties; and
WHEREAS, the City intends to sell $1,750,000 in Fire
.
Fighting Facilities Bonds in 1981 to finance construction of
the Fire Fighting Training Facilities and Closed Circuit
'
Television System; and
WHEREAS, on an interim basis, the City will utilize
$1,750,000 from Capital Improvement Funds as a loan to fund
i
the construction of the Fire Fighting Training Facilities
and Closed Circuit Television System, with said proceeds
being from the Interama Land Sale to the General Obligation
Fire Fighting Facilities Bond Fund; and
_
WHEREAS, the City's Capital Improvement Fund will be
reimbursed in a lump sum payment inclusive of 6% interest
_
when bonds are sold;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF
THE CITY OF MIAMI, FLORIDA;
Section 1, The City Manager is hereby authorized to
transfer $1,750,000 from the Capital Improvement Fund to the
General Obligation Fire Fighting Facilities Bond Fund for the
purpose of constructing the Fire Fighting Trainining Facilities
and Closed Circuit Television System,
"DOCUMENT INDEX
ITEM EM NO
CITY
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A,
QN. NO.
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Section 2. the ptoceeds ftofn the issuance and sale
of pfeviously authotited Oebetal Obligation Fite Fighting �
Facilities Bonds ate to be used to teimbutse the Capital
lfiiprovefnent Fund in a lump sum payment Inclusive of ibtetest
at a torte of 6% upon the sale of said Bonds,
PASSED AND ADOPTED this day of Janiat.Y i 1981.
MAURICE A. FERRE —
M A Y 0 R
ATTEST:
/ (77/
CKAUPIFG. ONGIE
TY CLERK
PREPARED AND APPROVED BYt
.4)
/'
ROBERT F. C L A R K
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
GEORG F. KNOY., JR.�Y
CITY TORNEY