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Resolution
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Miami, FL 33133
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File Number: 09-00771 Final Action Date:
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF MIAMI,
FLORIDA, WITH ATTACHMENT(S), SUPPLEMENTING RESOLUTION NO.
07-0586, ADOPTED BY THE CITY COMMISSION ON OCTOBER 11, 2007,
RELATING TO THE ISSUANCE BY THE CITY FROM TIME TO TIME OF
CERTAIN SPECIAL OBLIGATION BONDS PAYABLE AS TO PRINCIPAL AND
INTEREST SOLELY FROM THE PROCEEDS OF CERTAIN DESIGNATED
REVENUES DESCRIBED IN RESOLUTION NO. 07-
0586 AND NOT DERIVED FROM AD VALOREM TAXES; PROVIDING FOR THE
ISSUANCE OF AN ADDITIONAL SERIES OF SUCH SPECIAL OBLIGATION
BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING
$65,000,000, TO BE DESIGNATED CITY OF MIAMI, FLORIDA SPECIAL
OBLIGATION 07-BONDS, SERIES 2009 (STREET AND SIDEWALK
IMPROVEMENT PROGRAM) ("SERIES 2009 BONDS"), FOR THE PURPOSES
OF (i) FINANCING THE COSTS OF ACQUISITION, CONSTRUCTION AND
IMPROVEMENTS TO CERTAIN ROADWAYS AND STREETSCAPES AS
DESCRIBED HEREIN, (ii) FUNDING A DEPOSIT TO THE RESERVE ACCOUNT
FOR THE SERIES 2009 BONDS, AND (iii) PAYING THE COSTS OF ISSUANCE
OF THE SERIES 2009 BONDS; PROVIDING THAT THE SERIES 2009 BONDS
SHALL NOT CONSTITUTE AN INDEBTEDNESS OF THE CITY WITHIN THE
MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION OR
LIMITATION, OR A PLEDGE OF THE CITY'S FULL FAITH AND CREDIT, BUT
SHALL BE PAYABLE AS TO PRINCIPAL AND INTEREST SOLELY FROM THE
PROCEEDS OF CERTAIN DESIGNATED REVENUES DESCRIBED IN
RESOLUTION NO. 07-0586 AND NOT DERIVED FROM AD VALOREM TAXES;
PROVIDING THAT THE SERIES 2009 BONDS MAY BE ISSUED IN ONE OR
MORE TAX-EXEMPT OR TAXABLE SUBSERIES; DELEGATING TO THE CITY
MANAGER AUTHORITY TO DETERMINE THE TERMS OF THE SERIES 2009
BONDS WITHIN PRESCRIBED PARAMETERS; DESIGNATING A SERIES 2009
BOND REGISTRAR AND PAYING AGENT FOR THE SERIES 2009 BONDS;
APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND
DELIVERY OF A PAYING AGENT AND BOND REGISTRAR AGREEMENT;
FINDING NECESSITY FOR A NEGOTIATED SALE OF THE SERIES 2009
BONDS; APPROVING THE FORM OF AND AUTHORIZING EXECUTION AND
DELIVERY OF A SERIES 2009 BOND PURCHASE CONTRACT; APPROVING
THE FORM OF AND AUTHORIZING DISTRIBUTION OF A PRELIMINARY
OFFICIAL STATEMENT AND A FINAL OFFICIAL STATEMENT RELATING TO
THE SERIES 2009 BONDS; AUTHORIZING THE CITY MANAGER TO
NEGOTIATE FOR AND OBTAIN CREDIT FACILITIES AND RESERVE
ACCOUNT CREDIT FACILITIES AND TO EXECUTE AGREEMENTS RELATING
THERETO WITH RESPECT TO THE SERIES 2009 BONDS; PROVIDING FOR A
City of Miami Page I of 2 File Id: 09-00771 (Version: 11 Printed On: 7/22/2024
File Number: 09-00771
CONTINUING DISCLOSURE AGREEMENT WITH RESPECT TO THE SERIES
2009 BONDS; MAKING CERTAIN COVENANTS AND AGREEMENTS FOR THE
BENEFIT OF THE HOLDERS OF THE SERIES 2009 BONDS; AUTHORIZING
CITY OFFICIALS TO DO ALL THINGS DEEMED NECESSARY IN
CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE SERIES
2009 BONDS; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE
DATE.
City of Miami Page 2 of 2 File Id: 09-00771 (Version: 11 Printed On: 7/22/2024