HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: (7-(,V} 97i
Date: 7/17/2007 Requesting Department: CIT
Commission Meeting Date: P/ / /2007 District Impacted: ALL
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Resolution amending Capital Projects Appropriations Resolution No.06-0730, adopted
December 14, 2006.
Purpose of Item:
To appropriate $50,969,201 of bond proceeds received from the sale of the Homeland
Defense/Neighborhood Improvement Bonds Series 2007B as approved per Resolution No. 07-0353
adopted June 14, 2007 into the following 5 capital funds: Public Safety, Public Facilities, Parks and
Recreation, Streets and Sidewalks and Storm Sewers. This item also amends the Capital
Improvements Appropriations Resolution No. 06-0730, as amended to reflect these funds,
Background Information:
On November 13, 2001, the voters of the City of Miami approved by referendum the City's issuance
of $255 million in limited ad valorem tax bonds for homeland security, neighborhood improvements,
capital projects and infrastructure improvements, known as the "Homeland Defense/Neighborhood
Improvement Bonds." In 2002, the City Commission authorized the issuance of the first series of the
bonds as a public offering. The resultant public sale brought in $155 million for the first series of
projects, and those funds (HD1) were initially appropriated in August 2002, On June 14, 2007, the
City Commission authorized the issuance of Series 2007B of these bonds which yielded bond
proceeds in the amount of $50,969,201. This item amends the Capital Improvements Appropriations
Resolution 06-0730 to reflect these funds.
Budget Impact Analysis
YES Is this item related to revenue?
Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
YES Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Im act:
C.I.P APPROVAL:
�1b0�
CIP
If using or receiv
Grants
Purchasin
Chief
Final Approvals
(SIGN AND DATE)
Budget ✓
anagement
ept. Director
City Manager
Page 1 of 1
wiCe
III1°1