HomeMy WebLinkAboutCC 2012-11-15 Marked AgendaCity of Miami
Marked Agenda
City Commission
Tomas Regalado, Mayor
Francis Suarez, Chairman
Marc David Sarnoff, Vice -Chairman
Wifredo (Willy) Gort, Commissioner District One
Frank Carollo, Commissioner District Three
Michelle Spence -Jones, Commissioner District Five
Johnny Martinez, City Manager
Julie O. Bru, City Attorney
Dwight S. Danie, City Clerk
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Thursday, November 15, 2012
9:00 AM City Hall Commission Chambers
Present:
Commissioner Gort, Vice Chair Sarnoff, Commissioner Carollo, Chair
Suarez and Commissioner Spence -Jones
On the 15th day of November 2012, the City Commission of the City of Miami, Florida,
met at its regular meeting place in City Hall, 3500 Pan American Drive, Miami, Florida, in
regular session. The Regular Commission Meeting was called to order by Chair Suarez
at 9:00 a.m., recessed at 11:58 a.m., reconvened at 2:00 p.m., recessed at 2:01 p.m.,
reconvened at 2:53 p.m., recessed at 4:28 p.m., reconvened at 5:17 p.m., and recessed
the meeting at 6:38 p.m. on Thursday, November 15, 2012; the meeting reconvened on
Monday, November 19, 2012, at 6:00 p.m. and adjourned at 6:21 p.m.
Note for the Record:
On Thursday, November 15, 2012, Commissioner Carollo entered the Commission
chambers at 9:03 a.m., Commissioner Gort entered the Commission chambers at 9:04
a.m., Vice Chair Sarnoff entered the Commission chambers at 9:09 a.m., and
Commissioner Spence -Jones entered the Commission chambers at 9:26 a.m.
On Monday, November 19, 2012, Commissioner Carollo and Commissioner Gort entered
the Commission chambers at 6:02 p.m., and Commissioner Spence -Jones entered the
Commission chambers at 6:03 p.m.
ALSO PRESENT:
Julie O. Bru, City Attorney
Johnny Martinez, P.E., City Manager
Dwight S. Danie, City Clerk
SI.1 RESOLUTION
12-00908 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH
ATTACHMENT(S), AUTHORIZING THE ISSUANCE OF NOT TO EXCEED
Department of $50,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF SPECIAL
Finance OBLIGATION NON -AD VALOREM REVENUE REFUNDING BONDS,
SERIES 2012 (PORT OF MIAMI TUNNEL PROJECT), FOR THE PURPOSE
OF, TOGETHER WITH ANY OTHER AVAILABLE MONIES, REFUNDING
THE CITY'S REVENUE NOTE, SERIES 2010 (PORT OF MIAMI TUNNEL
AND ACCESS IMPROVEMENT PROJECT) OUTSTANDING IN THE
AGGREGATE PRINCIPAL AMOUNT OF $45,000,000 (THE "NOTE");
PROVIDING FOR THE RIGHTS AND SECURITY OF ALL HOLDERS OF
BONDS ISSUED PURSUANT TO THIS RESOLUTION; PROVIDING
CERTAIN DETAILS OF THE BONDS; DELEGATING OTHER DETAILS AND
City of Miami
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City Commission
Marked Agenda November 15, 2012
ADJOURNMENT
MATTERS IN CONNECTION WITH THE ISSUANCE OF THE BONDS TO
THE CITY MANAGER, WITHIN THE LIMITATIONS AND RESTRICTIONS
STATED HEREIN; PROVIDING FOR THE PAYMENT OF SUCH BONDS
FROM LEGALLY AVAILABLE NON -AD VALOREM REVENUES BUDGETED
AND APPROPRIATED BY THE CITY FOR SUCH PURPOSE; APPOINTING
A BOND REGISTRAR; AUTHORIZING A BOOK -ENTRY REGISTRATION
SYSTEM FOR THE BONDS; AUTHORIZING THE NEGOTIATED SALE AND
AWARD BY THE CITY MANAGER OF THE BONDS TO THE
UNDERWRITER, WITHIN THE LIMITATIONS AND RESTRICTIONS STATED
HEREIN; APPROVING THE FORM OF AND AUTHORIZING THE
EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT;
APPROVING THE FORM OF AND DISTRIBUTION OF A PRELIMINARY
LIMITED OFFERING MEMORANDUM AND A LIMITED OFFERING
MEMORANDUM AND AUTHORIZING THE EXECUTION AND DELIVERY OF
THE LIMITED OFFERING MEMORANDUM; COVENANTING TO PROVIDE
CONTINUING DISCLOSURE IN CONNECTION WITH THE BONDS AND
AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING
DISCLOSURE AGREEMENT WITH RESPECT THERETO AND
APPOINTING A DISCLOSURE DISSEMINATION AGENT THEREUNDER;
CREATING A BOND FUND AND CERTAIN ACCOUNTS AND
SUBACCOUNTS AND PROVIDING FOR THE APPLICATION OF THE
PROCEEDS OF THE BONDS; DELEGATING TO THE CITY MANAGER
AUTHORITY TO NEGOTIATE AND OBTAIN A BOND INSURANCE POLICY
AS CREDIT ENHANCEMENT FOR THE BONDS AND/OR A RESERVE
ACCOUNT INSURANCE POLICY FOR DEPOSIT TO THE CREDIT OF THE
DEBT SERVICE RESERVE ACCOUNT AND AUTHORIZING THE
EXECUTION AND DELIVERY OF AGREEMENTS WITH THE PROVIDER(S)
THEREOF; PROVIDING COVENANTS FOR THE PROVIDER(S) OF SUCH
BOND INSURANCE POLICY AND/OR RESERVE ACCOUNT INSURANCE
POLICY; AUTHORIZING THE CITY MANAGER, THE CITY ATTORNEY AND
CERTAIN OTHER OFFICIALS AND EMPLOYEES OF THE CITY TO TAKE
ALL ACTIONS REQUIRED IN CONNECTION WITH THE ISSUANCE OF
THE BONDS; AND PROVIDING FOR AN EFFECTIVE DATE.
12-00908 Summary Form.pdf
12-00908 Legislation- Version 1.pdf
12-00908 Complete Legislation Version 2.pdf
12-00908 Exhibit 1- SUB.pdf
12-00908 - Memo- Additional Back-up.pdf
MOVED: Marc David Sarnoff
SECONDED:
UNANIMOUS
Wifredo (Willy) Gort
Motion that this matter be ADOPTED WITH MODIFICATIONS PASSED by the following
vote.
AYES: Commissioner(s) Gort, Sarnoff, Carollo, Suarez and Spence -Jones
Direction by Commissioner Gort to the Administration for the Budget Director to provide
a monthly report to the City Commission on the budget status of City departments for
the purpose of correcting deficiencies as they come up.
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City Commission
Marked Agenda November 15, 2012
The meeting adjourned at 6:21 p.m. on Monday, November 19, 2012.
City of Miami
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