HomeMy WebLinkAboutR-80-0377RESOLUTION NO. 8 O- 3 7 7
A RESOLUTION GUARANTEEING PAYMENT BY THE CITY OF MIAMI
TO THE OFF-STREET PARKING AUTHORITY THE AVERAGE DAILY
RENTAL FOR PARKING, LOTS 38 AND 39 PLUS PAYMENT OF AN
ANNUAL INCREASE UP TO 7" IN SUCH RENTAL, BASED ON THE
AVERAGE DAILY RENTAL ESTABLISHED IN THE CALENDAR YEAR
OF 1981, SUCH PAYMENTS TO CONTINUE DURING THE TERM OF
A FUTURE. AGREEMENT BETWEEN THE CITY AND SAID AUTHORITY
AND WITH THE OPERATION OF SAID LOTS TO BE IN ACCORDANCE
WITH SAID AGREEMENT.
WHEREAS, the Off -Street Parking Authority has agreed with
the City for use on demand of Lots 38 and 39 operated by said Authority
for the City of Miami/University of Miami James L. Knight International
Center; and
WHEREAS, the use of these lots by said Center is essential
to guarantee the Center adequate parking and financing; and
WHEREAS, the Off -Street Parking Authority is dependent
on revenue from parking facilities to amortize its bonds; and
WHEREAS, it is anticipated that the additional use of
the parking facilities will in fact have to be a gain in revenue to
the Off -Street Parking Authority and not a loss;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
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-IT INDEX
CITY OF MIAMI, FLORIDA: �� � „
Section 1. The City of Miami heYe`b�i� uarantees the following
payment to the Off -Street Parking Authority during the term of an
agreement to be entered into between the City of Miami and the Off -
Street Parking Authority: (a) the average daily rental for Authority
Lots 38 and 39 as determined in 1981 for those days that the parking
in Lots 38 and 39 is reserved for conferees attending the City of
Miami/University of Miami James L. Knight International Center;
(b) the amount of an annual increase in such rental not to exceed
7e 0.
Section 2. The operation of said parking Lots 38 and 39
will be in accordance with the operation agreement to be entered into
by the City of Miami and the Off -Street Parking Authority.
PASSED AND ADOPTED this 22 day of May
ACTT ST \ -�� MAURICE A. FERRE
\\\,.� RICE A. FERRE, MAYOR
RALPH G. ONGIE, CITY CLERK.
PREPARED AND APPROVED BY: PR VED AS Tb FORM -AND CORRECTNESS:
ROBERT F. CLARK EO GE F. KNGX, r.ITY ATTORNEY
ASSISTANT CITY ATTORNEY v - 3 7 7
. 1980.