HomeMy WebLinkAboutcover memoDEC-22--2004 13 s 30
CITY MRNAGERS OFF I CE
305 416 1019 P.01
CIYYOF MIAMI, P1.ORIt A
INTER-OFFHHE MEMORANDUM
To. The Honorable Mayor and
Members of the City Commission
FRO Q = Arrlola
Manager
bATE: , faL.t�i 4e. OD/ anorFILE:
suaJEcT: Resolution approving the Is,auanoe of
Mg to exceed $4,000,O00 City of Tampa, Florida
Variable Rate Revenue Sonde (Volunteers of
America Project) (a portion of the proceeds in
the amount of not to exceed $1,600,000 will be
spent in the City of Miaaml) and TEFRA hearing
REFERENCES:
ENCLOSURES: Resolution with etteohments
, QMMENDATlON:
it is recommended that the Miami City Commission adopt the attached Resolution approving the issuance
of not to exceed $4,0oo,000 City of Tampa, Florida Variable Rate Revenue Bonds (Volunteers of America
Project) (the "Sonde").
PACfSitRaVNDI
The Volunteers of Arnerloaa, ino., a Florida not for profit{ corporation and quelled 501(0(3) organization,
has requested that the City of Temps, Florlde Issue tax-exempt revenue bonds on their bsheif. Such
bond proceeds wiJ be used to finance cr refinance the costs of constructing, relocating, acquiring end
equipping certain social service feallltiea, Including facilities located in the City of Miami. The amount of
not to exceed $1,600.000 will be altooatted to the facilities located in the City of Miami. The City of Miami,
Florida has been asked to enter into en Interlocal Agreement with the City of Tempe end hold a TEFRA
hearing in order to ecoomplish that.
The Volunteers of America provide housing, health and social service programs to support military
vetenana, the elderly, the mentally lil and developmentally dleebled et its facilities. Services Include
behavioral, mental health and substance abuse counseling, health services and employment support
services.
The snitched Resolution would approve the issuance of the Bonds, the projects and the Inteiiocal
Agreement,
The Clty would not be responsible for any undertaking in connection with the Bonds. There would be no
obligation of the City and the City would not be liable for the costs of the Bonds.