HomeMy WebLinkAboutSummary FormDate: 11/24/2008
AGENDA ITEM SUMMARY FORM
FILE ID: 0g H0 iLI5)
RE.13
Requesting Department: Finance Department
Commission Meeting Date: 12/11/2008 District Impacted: ALL
Type: ® Resolution [1 Ordinance n Emergency Ordinance [1 Discussion Item
n Other
Subject: The Sunshine State Governmental Financing Commission Loan in the amount of $20,000,000.
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 be approved; providing for certain other matters in connection with the making of the
loan be adopted in connection with the Enterprise Resource Planning Systems, Land Management
Systems, and other technology improvements projects on Exhibit A attached hereto.
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
$20,000,000, for the purposes of making improvements to and financing, among other things, the
construction, development, creation, equipping, purchase, implementation, and installation of various
projects. SSGFC provides efficiencies for borrowers by decreasing issuance costs and expediency of
obtaining funds. The City has received previously seven loans from SSGFC since 1986.
Budget Impact Analysis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No: 13640.162000.891000
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 capital funds
Grants
Final Approvals
(SIGN AND DATE)
Budget
Purchasing
Chie
Risk Manageme
Dept. Director
City Manager_