HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: 01—QaBC1
Date: 1 / 16/2008
Commission Meeting Date: 2/14/2008
RE.4
Requesting Department: Finance Department
District Impacted:
Type: ® Resolution n Ordinance n Emergency Ordinance [] Discussion Item
Other
Subject: The Sunshine State Governmental Financing Commission Loan in the amount of $15,000,000.
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
$15,000,000, for the purpose of making improvements to and financing the contruction of the projects
listed on Exhibit A attached hereto. SSGFC provides efficiencies for borrowers by decreasing
issuance costs and expediency of obtaining funds. The City has received previously 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:
Final Approvals
(SIGN AND DATE)
CIP Budget
If using or receiving capital funds
Grants Risk Manageme�
Purchasing
4
Chief
Dept. Director
t 1 u $ City Manager
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