HomeMy WebLinkAboutpre resolution 1RESOLUTION NO. 28/04
A RESOLUTION OF THE BOARD OF DIRECTORS OF
THE DOWNTOWN DEVELOPMENT AUTHORITY
("DDA") OF THE CITY OF MIAMI, FLORIDA,
APPROVING THE ANNUAL BUDGET OF THE MIAMI
DOWNTOWN DEVELOPMENT AUTHORITY FOR THE
FISCAL YEAR BEGINNING OCTOBER 1, 2004 AND
ENDING SEPTEMBER 30, 2005, REQUESTING THAT
THE MIAMI CITY COMMISSION ESTABLISH THE
MILLAGE AND ALLOCATE OTHER FUNDS TO
SUPPORT THE FINANCIAL REQUIREMENTS OF THE
BUDGET; AUTHORIZING THE EXECUTIVE DIRECTOR
AND TREASURER OF THE DOWNTOWN
DEVELOPMENT AUTHORITY TO EXPEND FUNDS
UNDER THE NEW BUDGET; DIRECTING THE
EXECUTIVE DIRECTOR TO FILE A DETAILED
STATEMENT OF THE PROPOSED EXPENDITURES
AND ESTIMATED REVENUES FOR THE FISCAL YEAR
BEGINNING OCTOBER 1, 2004 AND ENDING
SEPTEMBER 30, 2005 WITH THE CITY CLERK OF THE
CITY OF MIAMI AFTER ADOPTION AND
ESTABLISHMENT OF THE MILLAGE BY THE MIAMI
CITY COMMISSION; AND FURTHER PROVIDING
THAT A COPY OF THIS RESOLUTION BE FILED WITH
THE CITY CLERK OF THE CITY OF MIAMI.
WHEREAS, the Downtown Development Authority of the City of Miami, Florida
has prepared a budget for the Fiscal Year beginning October 1, 2004 and ending
September 30, 2005; and
WHEREAS, the Board of Directors of the DDA has reviewed said budget, said
budget being based on the Estimated Tax Roll provided by Miami -Dade County; and
WHEREAS, the Board of Directors of the DDA finds that the proposed budget is
necessary in order to further the objectives of the Downtown Development Authority, as
authorized by City Ordinance.
1
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI,
FLORIDA.
Section 1. The budget of the DDA, as submitted by the Executive Director, is
made part of this Resolution and is hereby approved as shall be known as the "Annual
Budget of the Downtown Development Authority: Fiscal Year October 1, 2004 through
September 30, 2005".
Section 2. The following appropriations for the Fiscal Year beginning
October 1, 2004 and ending September 30, 2005 are hereby made for the maintenance
and for the purpose of financing the operation and other legal and proper purposes of the
Downtown Development Authority of the City of Miami, Florida, to wit:
PERSONAL SERVICES $1,582,388.56
PROFESSIONAL SERVICES AND SPECIAL PROJECTS $887,111.44
OPERATING EXPENSES $599,000.00
TOTAL REQUIRED FUNDS $3,068,500.00
CONTINGENCIES $50,000
SOURCE OF REVENUE
AD VALOREM TAX LEVY WITHIN THE
DOWNTOWN DEVELOPMENT DISTRICT $3,118,500.00
TOTAL REVENUE FOR BUDGET $3,118,500.00
Section 3. The Commission of the City of Miami is requested to adopt said
budget and establish the millage, authorized by law, to support the financial requirements
of this budget.
Section 4. The Executive Director and the Treasurer of the Downtown
Development Authority are authorized to expend funds, including new salary rates, as
provided in said budget, after adoption and establishment of the millage by the Miami
City Commission, upon the first day of the 2004-2005 Fiscal Year, October 1, 2005.
Section 5. The Executive Director of the DDA is directed to prepare and file
with the City Clerk of the City Miami, Florida detailed statement of the proposed
expenditures and estimated revenues for the Fiscal Year 2004-2005 which shall be
entitled "Annual Budget of the Downtown Development Authority: Fiscal Year October
1, 2004 through September 30, 2005".
Section 6. A copy of this Resolution and the attachment shall be filed with the
City Clerk of the City of Miami, Florida after adoption of the millage by the City of
Miami Commission.
PASSED AND ADOPTED this 18th day of June, 2004.
nssioner Johnny L. Winton
irman
a A. Noiingh
Executive Directo
ATTEST:
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—Sandra Hernandez`
Secretary to the Board of the Directors