HomeMy WebLinkAboutR-79-0744A RESOLUTION APPROVING THE ATTACHED PREMIUM FUNDING
PROPOSAL FOR IMPLEMENTING THE FULL SYSTEM OF THE
DOWNTOWN PEOPLE MOVER PROJECT WITH FUNDS THEREFOR
FROM THE FLORIDA POWER AND LIGHT FRANCHISE TAX, WITH
THE CITY'S FUNDING SHARE NOT TO. EXCEED 9.9 MILLION
DOLLARS.
WHEREAS, the City of Miami desires to construct
Downtown People Mover System to serve the transportation
of the Downtown area and the region; and
WHEREAS, the premium funding proposal has been developed
to secure full funding of the Downtown People Mover project by;
the Urban Mass Transit
Administration;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The City Commission approves and endorses the,
funding plan outlined in the attached Premium Funding Proposal.
Section 2. The City Commission hereby commits the use of
funds from the Florida Power and Light Franchise tax in the
amount specified in the said Proposal to ensure that the City'
funding share in the funding plan delineated in the 'said Pro-
posal not exceed 9.9 Million Dollars.
PASSED AND ADOPTED' this 31st day of October , 1979.
Pi G. ONGIE, CI CLERK
PREPARED AND APPROVED
ROBERT F. CL"ARK
ASSISTANT CITY ATTORNEY
l= E O
%V Maurice A. Ferre
MAYOR
'D AS TO FORM AND CORRECTNESS:
E F.
KNOY ATTORNEY
"DOCUMENT NDEXft
ITEM NO.
CITY COMMISSION
MEETING OF
OCT 31 1979
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