HomeMy WebLinkAboutR-80-0293RESOLUTION NO. S 0- c 9 3
A RESOLUTION AWARDING $8,725,000 PARKING
FACILITIES REVENUE BONDS (SERIES 1980) OF
THE CITY OF MIAMI, FLORIDA; DESIGNATING
A CERTAIN BANK TO ACT AS PAYING AGENT;
AND DIRECTING THE DELIVERY OF SUCH BONDS
TO OR UPON THE ORDER OF THE PURCHASERS
HEREIN NAMED UPON PAYMENT OF THE PURCHASE
PRICE HEREIN SET FORTH; APPROVING THE
OFFICIAL STATEMENT AND RATIFYING AND APPROV-
ING THE DISTRIBUTION OF SUCH OFFICIAL
STATEMENT AND AUTHORIZING EMPLOYEES AND
OFFICIALS TO TAKE ACTION AS REQUIRED IN
CONNECTION WITH THE ISSUANCE OF THE BONDS.
WHEREAS, the Commission of the City of Miami, Florida
(the "Commission") has invited bids for the purchase of
$8,725,000 Parking Facilities Revenue Bonds (Series 1980)
of the City of Miami, Florida (the "Series 1980 Bonds"); and
WHEREAS, no bids were received by the Commission for the
purchase of the Series 1980 Bonds; and
WHEREAS, the Commission has authorized the Off -Street
Parking Board of the City of Miami to negotiate the sale of
the Series 1980 Bonds, pursuant to Resolution No. 80-235,
passed and adopted by the Commission on March 19, 1980; and
WHEREAS, William R. Hough & Co. and Dean Witter Reynolds,
Inc. have offered to pay Eight Million Four Hundred Nine
Thousand and Six Dollars and Sixty-seven Cents ($8,409,006.67)
for the Series 1980 Bonds maturing in the years and in the
amounts and bearing interest at the rates set forth in
Resolution No.80-292, passed and adopted by the Commission on
April 10, 1980 ("Resolution No. 80-292"); and
WHEREAS, the Commission has determined that the acceptance
of the bid of William R. Hough & Co. and Dean Witter Reynolds,
Inc. offering to purchase the Series 1980 Bonds at the price
and bearing interest at the rates set forth in Section 1 of
"DOCUJMENT, INDEX
ITEM NO. "
CITY COMMISSION
MEETING OF
APR 0 19,V
KNUMON la
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this Resolution, and that the award of the Series 1980 Bonds
to William R. Hough & Co. and Dean Witter Reynolds, Inc. is
in the best interests of the City and will effect the
purposes set forth in Ordinace No. 9060 adopted by the
Commission on January 24, 1980, as amended by Ordinance No.9092
adopted by the Commission on April 10, 1980 (said Ordinance
No. 9060 as so amended being hereinafter called the "Ordinance")
authorizing the issuance of not exceeding $8,725,000 Parking
Facilities Revenue Bonds of the City; and
WHEREAS, in conjunction with the sale and issuance of the
Series 1980 Bonds, it is necessary to approve the Official
Statement in connection with the issuance of such Bonds, to
ratify and to approve the distribution of such Official
Statement and to approve certain actions to be taken by or on
behalf of the City relating to the securing of the Series 1980
Bonds; now, therefore,
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The bid of William R. Hough & Co. and Dean
Witter Reynolds, Inc., offering to pay $8,409,006.67 plus
accrued interest on the Series 1980 Bonds from April 1, 1980
to the date of their delivery for the Series 1980 Bonds, maturing
in annual installments in the years and in the amounts and
bearing interest at the rates set forth in Resolution No.80-292 ,
has been determined to be and is hereby determined to be in
the best interests of the City and accordingly, such bid is
accepted, and the Series 1980 Bonds are hereby awarded to
William R. Hough & Co. and Dean Witter Reynolds, Inc. at the
price of $8,409,006.67, plus accrued interest on the Series
2
80-293
1980 Bonds from April 1, 1980 to the date of their delivery
for the Series 1980 Bonds bearing interest at the rates set forth
in Resolution No. 80-292.
Section 2. The Director of finance is hereby directed to
deliver the Series 1980 Bonds to or upon the order of William
R. Hough & Co. and Dean Witter Reynolds, Inc. upon payment
of the purchase price therefor together with accrued interest
from April 1, 1980 to the date of delivery of the Series
1980 Bonds.
Section 3. The Chase Manhattan Bank (National Associ-
ation), New York, New York, is hereby designated as the Paying
Agent for the Series 1980 Bonds, all for the purposes and within
the meaning of the Ordinance.
Section 4. The Official Statement in connection with the
issuance of the Series 1980 Bonds is hereby approved in the
form attached hereto as Appendix A, with such changes, omis-
sions and insertions as may be necessary to realize the purposes
of such statement, and the distribution and publication of such
Official Statement by City Officials, containing such additions,
modifications, and changes as they may deem necessary and desir-
able in connection with the sale and issuance of the Series
1980 Bonds, is hereby ratified, approved and confirmed. The
Director of Finance and the Director of the Department of Off -
Street Parking are hereby authorized to sign such Statement on
behalf of the City.
Section 5. The Mayor, the City Clerk or Deputy City Clerk,
the Director of Finance, the Director of the Department of Off -
Street Parking and all other employees and officials of the City
are hereby authorized and directed to take all action necessary
or desirable in connection with the issuance of the Series 1980
Bonds and the consummation of all transactions in connection
therewith.
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80-293
Section b. This resolution shall be in full force and
effect immediately upon its passage.
PASSED AND ADOPTED this loth day of April, 1980.
Maurice A. Ferre
MAURICE A. FERRE
M A Y O R
ATTEST:
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CITY CLERK
PREPARED AND APPROVED BY:
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ROBERT F. CLERK
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
j
.GEORGE F. KNOX, JR.
CITY ATTORNEY
80.293