HomeMy WebLinkAboutR-07-0586City of Miami
Legislation
Resolution: R-07-0586
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00913 Final Action Date: 10/11/2007
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
PROVIDING FOR THE ISSUANCE, IN ONE OR MORE SERIES, OF THE CITY'S
SPECIAL OBLIGATION BONDS; PROVIDING THAT SUCH BONDS SHALL NOT
CONSTITUTE AN INDEBTEDNESS OF THE CITY WITHIN THE MEANING OF ANY
CONSTITUTIONAL OR STATUTORY PROVISION OR LIMITATION, OR A PLEDGE
OF THE CITY'S FULL FAITH AND CREDIT, BUT SHALL BE PAYABLE AS TO
PRINCIPAL AND INTEREST SOLELY FROM THE PROCEEDS OF CERTAIN
DESIGNATED REVENUES NOT DERIVED FROM AD VALOREM TAXES;
PROVIDING FOR THE ISSUANCE OF THE FIRST SERIES OF SUCH BONDS IN
AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING $80,000,000, TO BE
DESIGNATED CITY OF MIAMI, FLORIDA SPECIAL OBLIGATION BONDS, SERIES
2007 (STREET AND SIDEWALK IMPROVEMENT PROGRAM) ("SERIES 2007
BONDS"), FOR THE PURPOSES OF (i) FINANCING THE COSTS OF
ACQUISITION, CONSTRUCTION AND IMPROVEMENTS TO CERTAIN ROADWAYS
AND STREETSCAPES AS DESCRIBED HEREIN (ii) FUNDING A DEPOSIT TO THE
RESERVE FUND FOR THE SERIES 2007 BONDS, AND (iii) PAYING THE COSTS
OF ISSUANCE OF THE SERIES 2007 BONDS; PROVIDING FOR THE ISSUANCE
OF ADDITIONAL SPECIAL OBLIGATION BONDS AND SPECIAL OBLIGATION
REFUNDING BONDS UNDER CERTAIN CONDITIONS; PROVIDING FOR THE
CREATION OF CERTAIN FUNDS AND ACCOUNTS; DELEGATING TO THE CITY
MANAGER AUTHORITY TO DETERMINE THE TERMS OF THE SERIES 2007
BONDS WITHIN PRESCRIBED PARAMETERS; DESIGNATING A BOND
REGISTRAR AND PAYING AGENT FOR THE SERIES 2007 BONDS; APPROVING
THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A
PAYING AGENT AND BOND REGISTRAR AGREEMENT; FINDING NECESSITY
FOR A NEGOTIATED SALE OF THE SERIES 2007 BONDS; APPROVING THE
FORM OF AND AUTHORIZING EXECUTION AND DELIVERY OF A BOND
PURCHASE CONTRACT; APPROVING THE FORM OF AND AUTHORIZING
DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND A FINAL
OFFICIAL STATEMENT RELATING TO THE SERIES 2007 BONDS; PROVIDING
FOR A BOOK ENTRY ONLY SYSTEM WITH RESPECT TO THE SERIES 2007
BONDS; AUTHORIZING THE CITY MANAGER TO NEGOTIATE FOR AND OBTAIN
CREDIT FACILITIES AND RESERVE ACCOUNT CREDIT FACILITIES AND TO
EXECUTE AGREEMENTS RELATING THERETO WITH RESPECT TO THE SERIES
2007 BONDS; PROVIDING FOR A CONTINUING DISCLOSURE AGREEMENT
WITH RESPECT TO THE SERIES 2007 BONDS; AUTHORIZING CITY OFFICIALS
TO DO ALL THINGS DEEMED NECESSARY IN CONNECTION WITH THE
ISSUANCE, SALE AND DELIVERY OF THE SERIES 2007 BONDS; PROVIDING
FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
SEE COMPLETE LEGISLATION AS AN ATTACHMENT. (72 PAGES)
City of Miami
Page 1 of 2 File Id: 07-00913 (Version: 1) Printed On: 4/17/2017
File Number: 07-00913 Enactment Number: R-07-0586
City of Miami Page 2 of 2 File Id: 07-00913 (Version: 1) Printed On: 4/17/2017