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HomeMy WebLinkAboutR-07-0704City of Miami Legislation Resolution: R-07-0704 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 07-01306 Final Action Date: 12/13/2007 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING THE ISSUANCE OF NOT TO EXCEED AN AGGREGATE PRINCIPAL AMOUNT OF $120,000,000, CITY OF MIAMI, FLORIDA, HEALTH FACILITIES AUTHORITY, HEALTH SYSTEM REVENUE BONDS, CATHOLIC HEALTH EAST ISSUE, IN ONE OR MORE SERIES, FOR PURPOSES OF SECTION 147(F) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED; APPROVING THE MINUTES OF THE PUBLIC HEARING HELD ON AUGUST 23, 2007, BY THE AUTHORITY WITH RESPECT TO THE BONDS, THE REFUNDING OF THE REFUNDED BONDS AND THE FINANCING OF THE PROJECT, IN ACCORDANCE WITH SECTION 147 (F) OF THE CODE, THE TRANSCRIPT OF WHICH MINUTES WAS PRESENTED AT THIS MEETING; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Miami, Florida Health Facilities Authority (the "Authority") was created by Resolution No. 79-93, as amended, adopted by the City Commission of the City of Miami, Florida (the "City Commission") on February 22, 1979, all pursuant to the Florida Health Facilities Authorities Law, Chapter 154, Part III, Florida Statutes; and WHEREAS, on August 23, 2007, the Authority held a public hearing, notice of which hearing was published on August 8, 2007 in The Miami Herald and on August 11, 2007 in the Sun -Sentinel (copies of which notices are attached hereto as Exhibit "A" and incorporated herein), 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 (the "Code"), in connection with the proposed issuance by the Authority of its Health System Revenue Bonds, Catholic Health East Issue, in one or more series (the "Bonds"), in the aggregate principal amount not to exceed $120,000,000, the proceeds of which will be used (a) to refund (i) the Authority's outstanding Health System Revenue Bonds, Catholic Health East Issue, Series 2003B and Series 2003C, the proceeds of which bonds financed the cost of health care facilities for Mercy Hospital in Miami and Holy Cross Hospital in Fort Lauderdale, both of which hospitals are owned and operated by affiliates of Catholic Health East, and (ii) the City of Tampa, Florida, Health System Revenue Bonds, Catholic Health East Issue, Series 1998, the proceeds of which bonds financed the cost of other health care facilities for Holy Cross Hospital, (collectively, the "Refunded Bonds"), (b) finance the cost of certain capital improvements more particularly described below (the "Project") and (c) to pay issuance costs with respect to the Bonds; and WHEREAS, prior to the issuance of any Bonds for Holy Cross Hospital, the Authority will enter into an Interlocal Agreement with the City of Fort Lauderdale, Florida with respect to the financing of facilities for Holy Cross Hospital, pursuant to which agreement, the City of Fort Lauderdale will approve the issuance of the Bonds by the Authority for such purpose; and WHEREAS, following the above described public hearing on August 23, 2007 the Authority adopted Resolutions No. 07-01 and 07-02 which, among other things, recommend that the City Commission approve the issuance of the Bonds for purposes of Section 147(f) of the Code, a copy of City of Miami Page 1 of 3 File Id: 07-01306 (Version: 1) Printed On: 4/20/2017 File Number: 07-01306 Enactment Number: R-07-0704 each of which is attached hereto as composite Exhibit "B;" and WHEREAS, after reviewing (a) the minutes of the Authority's public hearing held on August 23, 2007 with respect of the issuance of the Bonds, the refunding of the Refunded Bonds and the financing of the Project, a copy of which minutes is attached hereto as Exhibit "C" and incorporated herein and (b) the Authority's resolutions, the City Commission desires to approve the Bonds, the refunding of the Refunded Bonds and the financing of the Project for the purpose of complying with Section 147(f) of the Code; and WHEREAS, neither City nor the State of Florida or any political subdivision or agency thereof shall in any way be obligated to pay the principal, premium, if any, or interest on the Bonds as the same shall become due, and the issuance of the Bonds shall not directly, indirectly, or contingently obligate the Authority, the City of Miami, Miami -Dade County, the State of Florida, or any political subdivision or agency thereof to levy or pledge any form of taxation whatsoever therefore or to make any appropriation from ad valorem taxation revenues for their payment; NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CITY COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are hereby adopted and incorporated herein by reference as if fully set forth in this Section. Section 2. The issuance of the Bonds, in one or more series, in the maximum aggregate principal amount of $120,000,000 for the purpose of refunding the Refunded Bonds and financing the Project is hereby in all respects approved for purposes of Section 147(f) of the Code. Section 3. The City Commission hereby approves the minutes of the public hearing held on August 23, 2007 by the Authority with respect to the Bonds, the refunding of the Refunded Bonds and the financing of the Project, in accordance with Section 147 (f) of the Code, the transcript of which minutes was presented at this meeting. Section 4. This Resolution shall be effective upon its adoption and signature of the Mayor.{1} PASSED AND ADOPTED by a vote of the City Commission of the City of Miami, Florida, this day of , 2007. MAYOR ATTEST: CITY CLERK A City of Miami Page 2 of 3 File Id: 07-01306 (Version: 1) Printed On: 4/20/2017 File Number: 07-01306 Enactment Number: R-07-0704 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 3 of 3 File Id: 07-01306 (Version: 1) Printed On: 4/20/2017