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Text File Report
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File ID: 07-00913 Type: Resolution Status: Passed
Enactment #: R-07-0586 Enactment Date: 10/11/07
Version: 1 Introduced: 7/3/07 Controlling Body: Office of the City
Clerk
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), PROVIDING
FOR THE ISSUANCE, IN ONE OR MORE SERIES, OF THE CITY'S SPECIAL OBLIGATION
BONDS; PROVIDING THAT SUCH 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 NOT DERIVED FROM AD VALOREM TAXES; PROVIDING FOR THE
ISSUANCE OF THE FIRST SERIES OF SUCH BONDS IN AN AGGREGATE PRINCIPAL
AMOUNT NOT EXCEEDING $80,000,000, TO BE DESIGNATED CITY OF MIAMI, FLORIDA
SPECIAL OBLIGATION BONDS, SERIES 2007 (STREET AND SIDEWALK IMPROVEMENT
PROGRAM) ("SERIES 2007 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 FUND
FOR THE SERIES 2007 BONDS, AND (iii) PAYING THE COSTS OF ISSUANCE OF THE SERIES
2007 BONDS; PROVIDING FOR THE ISSUANCE OF ADDITIONAL SPECIAL OBLIGATION
BONDS AND SPECIAL OBLIGATION REFUNDING BONDS UNDER CERTAIN CONDITIONS;
PROVIDING FOR THE CREATION OF CERTAIN FUNDS AND ACCOUNTS; DELEGATING TO
THE CITY MANAGER AUTHORITY TO DETERMINE THE TERMS OF THE SERIES 2007 BONDS
WITHIN PRESCRIBED PARAMETERS; DESIGNATING A BOND REGISTRAR AND PAYING
AGENT FOR THE SERIES 2007 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 2007 BONDS; APPROVING
THE FORM OF AND AUTHORIZING EXECUTION AND DELIVERY OF A BOND PURCHASE
CONTRACT; APPROVING THE FORM OF AND AUTHORIZING DISTRIBUTION OF A
PRELIMINARY OFFICIAL STATEMENT AND A FINAL OFFICIAL STATEMENT RELATING TO
THE SERIES 2007 BONDS; PROVIDING FOR A BOOK ENTRY ONLY SYSTEM WITH RESPECT
TO THE SERIES 2007 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 2007 BONDS;
PROVIDING FOR A CONTINUING DISCLOSURE AGREEMENT WITH RESPECT TO THE
City of Miami Page I Printed on 9/29/2009
SERIES 2007 BONDS; AUTHORIZING CITY OFFICIALS TO DO ALL THINGS DEEMED
NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE SERIES
2007 BONDS; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
SEE COMPLETE LEGISLATION AS AN ATTACHMENT. (72 PAGES)
City of Miami Page 2 Printed on 9/29/2009