HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: C'7- clog '7. 1
Date: 7/17/2007 Requesting Department: Finance Department
Commission Meeting Date: 8/1/2007 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: The Sunshine State Governmental Financing Commission Loan in the amount of $6,6000,000.
Purpose of Item:
It is respectfully recommended that the attached resolution authorizing the execution and delivery of a
loan agreement entered between the Sunshine State Governmental Financing Commission and the
City of Miami; providing certain other matters in connection with the making of the loan be adopted.
Background Information:
The Sunshine State Governmental Financing Commission ("SSGFC") is an interlocal agency, of
which the. City of Miami is a member, organized in 1986 for the purpose of making loans to public
agencies. SSGFC has approved making of a loan to the City of Miami, initally in the amount of
$6,600,000. SSGFC provides efficiencies for borrowers by decreasing issuance costs and expediency
of obtaining funds. The City has received five loans from SSGFC since 1986.
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
If using or receiving capita! funds
Grants
Purchasin
Chief
Final Approvals
(SIGN AND DATE)
Budget
Risk Managem t�i
Dept. Directs
City Manager
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