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MIAMI PARKING AUTHORITY
INTER -OFFICE MEMORANDUM
TO: Honorable Mayor and Members DATE:October 2, 2003
Of the City of Miami Commission
FROM: Art Norieg
Executive irector
Miami Parking Authority
SUBJECT:Series 2003 Parking
Revenue Bonds
The Department of Off -Street Parking (DOSP) of the City of
Miami has identified a number of parking facilities which
are needed to meet the increasing parking demand in the
City. It is the Department's intention to finance these
costs by issuing parking revenue bonds. The total cost of
these facilities, including issuance costs and capitalized
interest during construction is not expected to exceed $45
million.
The attached ordinance has been prepared by bond counsel to
authorize the issuance of these bonds.
We respectfully request your approval of this ordinance at
your meeting scheduled for October 23, 2003.
Enclosure
cc:
Maria Chiaro/Angela Smith
Beverly Solomon
Albert M. Manduca