HomeMy WebLinkAboutResolutionCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 09-00511 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE CITY
MANAGER TO SOLICIT PROPOSALS FROM FINANCIAL INSTITUTIONS TO
FINANCE THE PURCHASE OF NEEDED EQUIPMENT FOR THE DEPARTMENT
OF SOLID WASTE, IN AN ESTIMATED AMOUNT NOT TO EXCEED $6.0 MILLION;
STIPULATING THAT SAID AMOUNT WILL BE REPAID AT AN ANNUAL INTEREST
RATE NOT TO EXCEED 5.5%; DIRECTING THE CITY MANAGER, UPON
COMPLETION OF THE SELECTION PROCESS, TO PRESENT A CONTRACT
WITH THE SELECTED PROPOSER TO THE CITY COMMISSION FOR ITS
CONSIDERATION.
WHEREAS, the Department of Solid Waste ("Department") is over 65 pieces of equipment behind
schedule for equipment replacement, as such, equipment needs are approaching a critical state; and
WHEREAS, the Commission approved $2.5 million for equipment replacement this fiscal year
which still leaves the department lacking equipment in order to efficiently and effectively manage the
Operations Division of the department; and
WHEREAS, after lengthy discussions, it has been decided that a possible solution would be to
authorize the solicitation of financing in the amount of $6.0 million to be used for the purchase of the
necessary solid waste equipment; and
WHEREAS, the Department will repay the loan utilizing a portion of future solid waste fee
collections; and
WHEREAS, this approach will save money by allowing the Department to purchase the
equipment at this year's prices and will allow the Director of the Department to fully complement the
fleet to its appropriate level and reduce overtime by 30% due to downtime of existing equipment;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
reference and incorporated as if fully set forth in this Section.
Section 2. The Miami City Commission hereby authorizes the City Manager to solicit proposals
from financial institutions to finance the purchase of needed equipment for the Department, in an
estimated amount not to exceed $6.0 million at an annual interest rate not to exceed 5.5%.
Section 3. The City Manager is hereby directed, upon completion of the selection process, to
present a contract with the selected proposer to the City Commission for its consideration.
City of Miami Page 1 of 2 File Id: 09-00511 (Version: 1) Printed On: 7/22/2024
File Number: 09-00511
Section 4. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{1}
Footnotes:
{1} If the Mayor does not sign this Resolution, it shall become effective at the end of the 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 2 of 2 File Id: 09-00511 (Version: 1) Printed On: 7/22/2024