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Home My WebLink AboutR-23-0484City of Miami Resolution R-23-0484 Legislation City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 14810 Final Action Date: 10/26/2023 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), REALLOCATING FUNDS, IN THE TOTAL AMOUNT OF TWO MILLION AND 00/100 DOLLARS ($2,000,000.00) ("FUNDS") FROM THE SW23 TERRACE FROM SW 27 AVENUE TO SW 32 AVENUE PROJECT, PROJECT NO. 40- B50412, IN THE CITY OF MIAMI'S ("CITY") FISCAL YEAR 2023-24 MULTI- YEAR CAPITAL PLAN ADOPTED ON SEPTEMBER 9, 2023 PURSUANT TO RESOLUTION NO. R-23-0376 AS AMENDED ("CAPITAL PLAN"), AND RE - APPROPRIATING SAID FUNDS TO THE TAMIAMI BOULEVARD RECONSTRUCTION AND DRAINAGE IMPROVEMENTS PROJECT, PROJECT NO. 40-B243600 ("TAMIAMI DRAINAGE IMPROVEMENTS"); DECLARING THE CITY'S OFFICIAL INTENT TO ISSUE TAX-EXEMPT MIAMI FOREVER LIMITED AD VALOREM BONDS ("MIAMI FOREVER BONDS"), IN ONE OR MORE SERIES, TO THE EXTENT PERMISSIBLE UNDER APPLICABLE LAWS, RULES, AND REGULATIONS REGARDING THE MIAMI FOREVER BONDS, AND USE A PORTION OF THE MIAMI FOREVER BONDS FOR SEA -LEVEL RISE MITIGATION AND FLOOD PREVENTION ("SLRMFP") PROJECTS IN THE TOTAL AMOUNT OF TWO MILLION AND 00/100 DOLLARS ($2,000,000.00) TO REIMBURSE THE CITY FOR FUNDS ADVANCED BY IT FOR EXPENDITURES INCURRED AND TO BE INCURRED WITH RESPECT TO THE TAMIAMI DRAINAGE IMPROVEMENTS AND THE PURPOSES STATED HEREIN; THE USE, ALLOCATION, AND APPROPRIATION OF THE MIAMI FOREVER BONDS SLRMFP FUNDS ARE SUBJECT TO ALL FEDERAL, STATE, AND LOCAL LAWS THAT REGULATE THE USE OF SUCH FUNDS AND THE RECEIPT OF ALL NECESSARY APPROVALS, INCLUDING, BUT NOT LIMITED TO THE CITY ATTORNEY AND BOND COUNSEL APPROVAL; RATIFYING, APPROVING, AND CONFIRMING CERTAIN NECESSARY ACTIONS BY THE CITY MANAGER AND DESIGNATED CITY DEPARTMENTS IN ORDER TO UPDATE THE CAPITAL PLAN, RELEVANT FINANCIAL CONTROLS AND COMPUTER SYSTEMS IN CONNECTION THEREWITH, FOR PROJECT CLOSE-OUTS, AND FOR GRANTS AND OTHER FUNDING SOURCES IN PROGRESS IN CONNECTION HEREWITH; AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE, ANY AND ALL DOCUMENTS, INCLUDING, BUT NOT LIMITED TO, AGREEMENTS, AMENDMENTS, MODIFICATIONS, AND MEMORANDUM OF UNDERSTANDING, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, NECESSARY FOR THE PURPOSES STATED HEREIN. SPONSOR(S): Commissioner Manolo Reyes WHEREAS, except for such changes as set forth herein, all previous appropriations remain authorized to continue as previously approved City of Miami ("City") capital projects (new, revised, and continued projects collectively, "Projects") according to the Fiscal Year 2023- 2024 Multi -Year Capital Plan adopted on September 9, 2023, pursuant to Resolution No. R-23- 0376 ("Capital Plan"), as may be amended from time to time; and City of Miami Page 1 of 3 File ID: 14810 (Revision: A) Printed On: 6/6/2024 File ID: 14810 Enactment Number: R-23-0484 WHEREAS, the City is proposing a new capital project titled Tamiami Boulevard Reconstruction and Drainage Improvements Project, Project No. 40-B243600 ("Tamiami Drainage Improvements"), for rights -of -way improvements, drainage improvements, and water main extensions along three (3) adjacent City -owned roads that include Tamiami Boulevard, Southwest 71 st Avenue, and Southwest 3rd Street; and WHEREAS, it is now necessary and in the best interest of the City to reallocate funds in the total not to exceed amount of Two Million and 00/100 Dollars ($2,000,000.00) ("Funds") previously allocated to the Southwest 23 Terrace from Southwest 27 Avenue to Southwest 32 Avenue Project, Project No. 40-B50412 ("SW 23 Terrace Project"), and re -appropriate the Funds to the Tamiami Drainage Improvements, all as set forth in Exhibit "A," attached and incorporated; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: s Section 1. The recitals and findings contained in the Preamble of this Resolution are adopted by reference thereto and incorporated herein as if fully set forth in this Section. Section 2. The City Commission hereby approves and authorizes' the City Manager to reallocate funds in the total not to exceed amount of Two Million and 00/100 ($2,000,000.00) previously allocated to the Southwest 23 Terrace Project and re -appropriate said funds to the Tamiami Drainage Improvements, all as set forth in Exhibit "A," attached and incorporated. Section 3. The City Commission hereby declares the City's official intent to issue tax- exempt Miami Forever Limited Ad Valorem bonds ("Miami Forever Bonds"), in one or more series, to the extent permissible under applicable laws, rules, and regulations regarding the Miami Forever Bonds, and use a portion of the Miami Forever Bonds for Sea -Level Rise Mitigation and Flood Prevention ("SLRMFP") projects in the total amount of Two Million and 00/100 Dollars ($2,000,000.00) to reimburse the City for funds advanced by it for expenditures incurred and to be incurred with respect to the Tamiami Drainage Improvements and the purposes stated herein. Section 4. The use, allocation, and appropriation of the Miami Forever Bonds SLRMFP funds are subject to all federal, State, and local laws that regulate the use of such funds and the receipt of all necessary approvals, including, but not limited to the City Attorney and Bond Counsel approval. Section 5. The City Manager is authorized' to make any changes to adjust, amend, and appropriate the City's Operating Budget, Five -Year Financial Plan, Strategic Plan, and Multi - Year Capital Plan, as necessary and applicable, pursuant to the provisions of this Resolution. Section 6. Certain necessary actions by the City Manager and designated City officials and departments made in order to update the Capital Plan, relevant financial controls and computer systems in connection therewith, for project close-outs, and for grants and other funding sources in progress in connection herewith are ratified, approved, and confirmed. 1 The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to, those prescribed by applicable City Charter and City Code provisions. City of Miami Page 2 of 3 File ID: 14810 (Revision: A) Printed on: 6/6/2024 File ID: 14810 Enactment Number: R-23-0484 Section 7. The City Manager is authorized' to negotiate and execute any and all documents, including, but not limited to, agreements, amendments, modifications, and memorandum of understanding, all in forms acceptable to the City Attorney, necessary for the purposes stated herein. Section 8. The City Manager in consultation with the City Attorney, Bond Counsel, Disclosure Counsel, Financial Advisor, Chief Financial Officer, Finance Director, Budget Director, and such other appropriate officers, employees, and agents of the City as the City Manager deems necessary are hereby authorized' to take such actions as may be necessary to carry out the purposes of this Resolution. Section 9. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: "ndez, City Attor 4/4/2024 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) 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 3 of 3 File ID: 14810 (Revision: A) Printed on: 6/6/2024