HomeMy WebLinkAboutR-12-0455City of Miami
Legislation
Resolution: R-12-0455
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 12-00908 Final Action Date: 11/19/2012
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $50,000,000 IN
AGGREGATE PRINCIPAL AMOUNT OF SPECIAL 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 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.
City of Miami
Page 1 of 2 File Id: 12-00908 (Version: 2) Printed On: 12/13/2017
File Number: 12-00908 Enactment Number: R-12-0455
See Complete Legislation, 12-00908 Complete Legislation Version 2. pdf (39 pages).
City of Miami Page 2 of 2 File Id: 12-00908 (Version: 2) Printed On: 12/13/2017