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HomeMy WebLinkAboutMaster ReportTitle: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF MIAMI, FLORIDA, WITH ATTACHMENT(S), SUPPLEMENTING RESOLUTION NO. 07-0586, ADOPTED BY THE CITY COMMISSION ON OCTOBER 11, 2007, RELATING TO THE ISSUANCE BY THE CITY FROM TIME TO TIME OF CERTAIN SPECIAL OBLIGATION BONDS PAYABLE AS TO PRINCIPAL AND INTEREST SOLELY FROM THE PROCEEDS OF CERTAIN DESIGNATED REVENUES DESCRIBED IN RESOLUTION NO. 07-0586 AND NOT DERIVED FROM AD VALOREM TAXES; PROVIDING FOR THE ISSUANCE OF AN ADDITIONAL SERIES OF SUCH SPECIAL OBLIGATION BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING $65,000,000, TO BE DESIGNATED CITY OF MIAMI, FLORIDA SPECIAL OBLIGATION BONDS, SERIES 2009 (STREET AND SIDEWALK IMPROVEMENT PROGRAM) ("SERIES 2009 BONDS"), FOR THE PURPOSES OF (I) FINANCING THE COSTS OF ACQUISITION, CONSTRUCTION AND IMPROVEMENTS TO CERTAIN ROADWAYS AND STREETSCAPES AS DESCRIBED HEREIN, (II) FUNDING A DEPOSIT TO THE RESERVE ACCOUNT FOR THE SERIES 2009 BONDS, AND (III) PAYING THE COSTS OF ISSUANCE OF THE SERIES 2009 BONDS; PROVIDING THAT THE SERIES 2009 BONDS SHALL NOT CONSTITUTE AN INDEBTEDNESS OF THE CITY WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION OR LIMITATION, OR A PLEDGE OF THE CITY'S FULL FAITH AND CREDIT, BUT SHALL BE PAYABLE AS TO PRINCIPAL AND INTEREST SOLELY FROM THE PROCEEDS OF CERTAIN DESIGNATED REVENUES DESCRIBED IN RESOLUTION NO. 07-0586 AND NOT DERIVED FROM AD VALOREM TAXES; PROVIDING THAT THE SERIES 2009 BONDS MAY BE ISSUED IN ONE OR MORE TAX-EXEMPT OR TAXABLE SUBSERIES; DELEGATING TO THE CITY MANAGER AUTHORITY TO DETERMINE THE TERMS OF THE SERIES 2009 BONDS WITHIN PRESCRIBED PARAMETERS; DESIGNATING A SERIES 2009 BOND REGISTRAR AND PAYING AGENT FOR THE SERIES 2009 BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A PAYING AGENT AND BOND REGISTRAR AGREEMENT; FINDING NECESSITY FOR A NEGOTIATED SALE OF THE SERIES 2009 BONDS; APPROVING THE FORM OF AND AUTHORIZING EXECUTION AND DELIVERY OF A SERIES 2009 BOND PURCHASE CONTRACT; APPROVING THE FORM OF AND AUTHORIZING DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND A FINAL OFFICIAL STATEMENT RELATING TO THE SERIES 2009 BONDS; AUTHORIZING THE CITY MANAGER TO NEGOTIATE FOR AND OBTAIN CREDIT FACILITIES AND RESERVE ACCOUNT CREDIT FACILITIES AND TO EXECUTE AGREEMENTS RELATING THERETO WITH RESPECT TO THE SERIES 2009 BONDS; PROVIDING FOR A CONTINUING DISCLOSURE AGREEMENT WITH RESPECT TO THE SERIES 2009 BONDS; MAKING CERTAIN COVENANTS AND AGREEMENTS FOR THE BENEFIT OF THE HOLDERS OF THE SERIES 2009 BONDS; AUTHORIZING CITY OFFICIALS TO DO ALL THINGS DEEMED NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE SERIES 2009 BONDS; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE. Sponsors: Notes: City of Miami Page I Printed on 6/3012017 T,y op.y City of Miami City Hall 3500 Pan American Drive F Miami, FL 33133 Fwln < � R 1 O Master Report vuww.miamigov.com Enactment Number: R-09-0470 File Number: 09-00992 File Type: Resolution Status: Passed Version: 2 Reference: Controlling Body: Office of the City Clerk File Name: City's Special Obligation Bonds Series 2009 Introduced: 8/31/2009 Requester: Department of Finance Cost: Final Action: 10/8/2009 Title: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF MIAMI, FLORIDA, WITH ATTACHMENT(S), SUPPLEMENTING RESOLUTION NO. 07-0586, ADOPTED BY THE CITY COMMISSION ON OCTOBER 11, 2007, RELATING TO THE ISSUANCE BY THE CITY FROM TIME TO TIME OF CERTAIN SPECIAL OBLIGATION BONDS PAYABLE AS TO PRINCIPAL AND INTEREST SOLELY FROM THE PROCEEDS OF CERTAIN DESIGNATED REVENUES DESCRIBED IN RESOLUTION NO. 07-0586 AND NOT DERIVED FROM AD VALOREM TAXES; PROVIDING FOR THE ISSUANCE OF AN ADDITIONAL SERIES OF SUCH SPECIAL OBLIGATION BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING $65,000,000, TO BE DESIGNATED CITY OF MIAMI, FLORIDA SPECIAL OBLIGATION BONDS, SERIES 2009 (STREET AND SIDEWALK IMPROVEMENT PROGRAM) ("SERIES 2009 BONDS"), FOR THE PURPOSES OF (I) FINANCING THE COSTS OF ACQUISITION, CONSTRUCTION AND IMPROVEMENTS TO CERTAIN ROADWAYS AND STREETSCAPES AS DESCRIBED HEREIN, (II) FUNDING A DEPOSIT TO THE RESERVE ACCOUNT FOR THE SERIES 2009 BONDS, AND (III) PAYING THE COSTS OF ISSUANCE OF THE SERIES 2009 BONDS; PROVIDING THAT THE SERIES 2009 BONDS SHALL NOT CONSTITUTE AN INDEBTEDNESS OF THE CITY WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION OR LIMITATION, OR A PLEDGE OF THE CITY'S FULL FAITH AND CREDIT, BUT SHALL BE PAYABLE AS TO PRINCIPAL AND INTEREST SOLELY FROM THE PROCEEDS OF CERTAIN DESIGNATED REVENUES DESCRIBED IN RESOLUTION NO. 07-0586 AND NOT DERIVED FROM AD VALOREM TAXES; PROVIDING THAT THE SERIES 2009 BONDS MAY BE ISSUED IN ONE OR MORE TAX-EXEMPT OR TAXABLE SUBSERIES; DELEGATING TO THE CITY MANAGER AUTHORITY TO DETERMINE THE TERMS OF THE SERIES 2009 BONDS WITHIN PRESCRIBED PARAMETERS; DESIGNATING A SERIES 2009 BOND REGISTRAR AND PAYING AGENT FOR THE SERIES 2009 BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A PAYING AGENT AND BOND REGISTRAR AGREEMENT; FINDING NECESSITY FOR A NEGOTIATED SALE OF THE SERIES 2009 BONDS; APPROVING THE FORM OF AND AUTHORIZING EXECUTION AND DELIVERY OF A SERIES 2009 BOND PURCHASE CONTRACT; APPROVING THE FORM OF AND AUTHORIZING DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND A FINAL OFFICIAL STATEMENT RELATING TO THE SERIES 2009 BONDS; AUTHORIZING THE CITY MANAGER TO NEGOTIATE FOR AND OBTAIN CREDIT FACILITIES AND RESERVE ACCOUNT CREDIT FACILITIES AND TO EXECUTE AGREEMENTS RELATING THERETO WITH RESPECT TO THE SERIES 2009 BONDS; PROVIDING FOR A CONTINUING DISCLOSURE AGREEMENT WITH RESPECT TO THE SERIES 2009 BONDS; MAKING CERTAIN COVENANTS AND AGREEMENTS FOR THE BENEFIT OF THE HOLDERS OF THE SERIES 2009 BONDS; AUTHORIZING CITY OFFICIALS TO DO ALL THINGS DEEMED NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE SERIES 2009 BONDS; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE. Sponsors: Notes: City of Miami Page I Printed on 6/3012017 City of Miami Page 2 Printed on 6/3012017 'sY op.tt City Hall City of Miami 3500 Pan American Drive F Miami, FL 33133 Fwln < � R 1 O vuww.miamigov.com Master Report Enactment Number: R-09-0470 Indexes: Attachments: 09-00992 Legislation.pdf,09-00992 Exhibit 1.pdf,09-00992-Exhibit 2-SUB.pdf,09-00992 Exhibit 3.pdf,09-00992 Exhibit 4.pdf,09-00992 Exhibit 5.pdf,09-00992 Exhibit 6.pdf,09-00992 Summary Form.pdf,09-00992 Master Report.pdf,09-00992 Text File Report.pdf,09-00992 Pre-Legislation.pdf,09-00992 Exhibits to Resolution 07-0586.pdf, History of Legislative File Version: Acting Body: Date: Action: Sent To: Due Date: Return Date: Result: 1 Office of the City 10/7/2009 Reviewed and Attorney Approved 2 City Commission 10/8/2009 ADOPTED WITH Pass MODIFICATIONS 2 Office of the Mayor 10/14/2009 Signed by the Mayor Office of the City Clerk 2 Office of the City 10/14/2009 Reviewed and Attorney Approved Action Note: MODIFICATIONS MADE 2 Office of the City Clerk 10/15/2009 Signed and Attested by City Clerk City of Miami Page 2 Printed on 6/3012017