HomeMy WebLinkAboutR-05-0421City of Miami
Legislation
Resolution: R-05-0421
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 05-00612 Final Action Date: 7/7/2005
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING THE ISSUANCE OF CITY OF MIAMI, FLORIDA, HEALTH FACILITIES
AUTHORITY ("AUTHORITY") REVENUE REFUNDING BONDS (MIAMI JEWISH
HOME AND HOSPITAL FOR THE AGED, INC. PROJECT) SERIES 2005 ("SERIES
2005 BONDS"), IN THE AMOUNT NOT TO EXCEED $25,800,000, FOR PURPOSES
OF SECTION 147(F) OF THE INTERNAL REVENUE CODE OF 1986, AS
AMENDED ("IRS CODE"); FURTHER APPROVING THE MINUTES OF THE PUBLIC
HEARING HELD ON JUNE 3, 2005, BY THE AUTHORITY WITH RESPECT TO SAID
SERIES 2005 BONDS AND THE REFUNDING OF RELATED BONDS, IN
ACCORDANCE WITH THE IRS CODE, AS STATED HEREIN.
WHEREAS, the City of Miami, Florida Health Facilities Authority ("Authority") was created by
Resolution No. 79-93, February 22, 1979, as amended by Resolution No. 79-330, adopted May 22,
1979, all pursuant to the Florida Health Facilities Authorities Law, Chapter 154, Part III, Florida
Statutes; and
WHEREAS, on June 3, 2005, the Authority held a public hearing, notice of which hearing was
published on May 20, 2005, in The Miami Herald, a copy of which notice is attached and
incorporated, as "Exhibit A," for the purpose of giving all interested persons an opportunity to express
their views, either orally or in writing, as required by Section 147(f) of the Internal Revenue Code of
1986, as amended ("IRS Code"), in connection with the proposed issuance by the Authority of its
Health Facilities Revenue Refunding Bonds (Miami Jewish Home and Hospital for the Aged, Inc.
Project), Series 2005 ("Series 2005 Bonds"), in the aggregate principal amount not to exceed
$25,800,000, the proceeds of which will be used to: (a) refinance and refund the Authority's
outstanding (i) Health Facilities Revenue Bonds (Miami Jewish Home and Hospital for the Aged, Inc.
Project), Series 1992 (the "Series 1992 Bonds") and (ii) Health Facilities Revenue Bonds (Miami
Jewish Home and Hospital for the Aged, Inc. Project), Series 1996 (the "Series 1996 Bonds" and,
together with the Series 1992 Bonds, the "Refunded Bonds"); (b) capitalize a portion of the interest
on the Series 2005 Bonds; and (c) pay certain costs of issuance of the Series 2005 Bonds; and
WHEREAS, following the above described public hearing on June 3, 2005, the Authority adopted
Resolution No. 05-02, which, among other things, recommends that the City Commission approve the
issuance of the Series 2005 Bonds for purposes of Section 147(f) of the IRS Code, a copy of which is
attached and incorporated as "Exhibit B;" and
WHEREAS, after reviewing: (a) the minutes of the Authority's public hearing held on June 3,
2005, in respect of the issuance of the Series 2005 Bonds and the refunding of the Refunded Bonds,
a copy of which minutes is attached and incorporated, as "Exhibit C" and (b) the Authority's
Resolution No. 05-02, the City Commission desires to approve the Series 2005 Bonds and the
refunding of the Refunded Bonds for the purpose of complying with Section 147(f) of the IRS Code;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
City of Miami
Page 1 of 2 File Id: 05-00612 (Version: 11 Printed On: 11/21/2016
File Number: 05-00612 Enactment Number: R-05-0421
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted and
incorporated by reference as if fully set forth in this Section.
Section 2. The issuance of the Series 2005 Bonds in the maximum aggregate principal amount
not to exceed $25,800,000, for the purpose of refunding the Refunded Bonds, for purposes of
Section 147(f) of the IRS Code, is approved.
Section 3. The City Commission approves the minutes of the public hearing held on June 3, 2005
by the Authority with respect to the Series 2005 Bonds and the refunding of the Refunded Bonds, in
accordance with Section 147 (f) of the IRS Code, the transcript of which minutes was presented at
this meeting.
Section 4. This Resolution shall be effective immediately upon its adoption and signature of the
Mayor.{1}.
Footnotes:
{1} If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File Id: 05-00612 (Version: 11 Printed On: 11/21/2016