HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-15-0545
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 15-01485
Version: 1
File Type: Resolution Status: Passed
Reference: Controlling Body: Office of the City
Clerk
File Name: Appr. Issuance of Ad Valorem Tax Bonds Introduced: 11/3/2015
Requester: Department of Finance Cost:
Final Action: 12/10/2015
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), PROVIDING
FOR THE ISSUANCE OF NOT TO EXCEED SIXTY-TWO MILLION DOLLARS ($62,000,000.00)
IN AGGREGATE PRINCIPAL AMOUNT OF A CITY OF MIAMI, FLORIDA ("CITY") LIMITED
AD -VALOREM TAX REFUNDING BOND, SERIES 2015 ("BOND") AND THE COSTS OF
ISSUANCE THEREOF; APPROVING THE SELECTION OF THE PRIVATE PLACEMENT
PROPOSAL FROM PINNACLE PUBLIC FINANCE, INC., A BANKUNITED COMPANY
("PINNACLE") AND PROVIDING FOR THE PRIVATE PLACEMENT WITH AND NEGOTIATED
SALE OF SAID BOND TO PINNACLE; SETTING CERTAIN BASIC PARAMETERS OF THE
TERMS AND CONDITIONS OF A LOAN AGREEMENT AND THE BOND AND AUTHORIZING
THE NEGOTIATION, EXECUTION AND DELIVERY OF A LOAN AGREEMENT, THE BOND,
AND ALL OTHER NECESSARY AGREEMENTS, DOCUMENTS, AND INSTRUMENTS IN
CONNECTION THEREWITH; MAKING CERTAIN FINDINGS AND DETERMINATIONS;
AUTHORIZING ALL REQUIRED ACTIONS BY THE CITY MANAGER, THE CITY ATTORNEY,
BOND COUNSEL, FINANCIAL ADVISOR, AND ALL OTHER CITY OFFICIALS IN
CONNECTION THEREWITH; FURTHER AUTHORIZING THE CITY MANAGER, CITY
ATTORNEY, FINANCIAL ADVISOR, BOND COUNSEL, BOND REGISTRARS AND PAYING
AGENTS AND ALL OTHER NECESSARY CITY OFFICIALS TO UNDERTAKE THE NECESSARY
STEPS AND TO NEGOTIATE, EXECUTE, AND DELIVER ALL NECESSARY ESCROW DEPOSIT
AGREEMENTS, NOTICES, DOCUMENTS, AND INSTRUMENTS IN CONNECTION WITH THE
REDEMPTION OF THE CITY'S SEVEN MILLION, ONE HUNDRED EIGHTY-FIVE THOUSAND
DOLLARS ($7,185,000.00) OUTSTANDING PRINCIPAL AMOUNT OF THE CITY'S LIMITED
AD -VALOREM TAX BONDS SERIES 2002 (HOMELAND DEFENSE/NEIGHBORHOOD CAPITAL
IMPROVEMENT PROJECTS) ("SERIES 2002 BONDS") AND FIFTY MILLION ONE HUNDRED
SEVENTY-FIVE MILLION DOLLARS ($50,175,000.00) OUTSTANDING PRINCIPAL AMOUNT
OF THE CITY'S LIMITED AD -VALOREM TAX BONDS, SERIES 2007B (HOMELAND
DEFENSE/NEIGHBORHOOD CAPITAL IMPROVEMENT PROJECTS) ("SERIES 2007B");
AUTHORIZING THE TRANSFER OF ALL REMAINING PROCEEDS AND INTEREST ON THE
SERIES 2002 BONDS AND THE SERIES 2007B BONDS FOR RESPECTIVE REDEMPTIONS IN
ACCORDANCE WITH THE AUTHORIZING RESOLUTIONS (AS DEFINED BELOW) AND TAX
COMPLIANCE CERTIFICATES (AS DEFINED BELOW) FOR CONTINUING COMPLIANCE FOR
THE SERIES 2002 BONDS AND SERIES 2007B BONDS; RATIFYING, APPROVING, AND
CONFIRMING CERTAIN NECESSARY ACTIONS BY THE CITY MANAGER AND DESIGNATED
DEPARTMENTS IN ORDER TO UPDATE THE RELEVANT FINANCIAL CONTROLS AND
COMPUTER SYSTEMS IN CONNECTION THEREWITH; AND PROVIDING APPLICABLE
EFFECTIVE DATES.
Sponsors:
Notes:
Indexes:
Attachments: 15-01485 Summary Form.pdf,15-01485 Legislation.pdf,15-01485 Exhibit Pinnacle
City ofMiami Page 1 Printed on 4/13/2018
City of Miami
Master Report
Enactment Number: R-15-0545
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Proposal.pdf,15-01485 Exhibit - PFM Memorandum.pdf,15-01485 Exhibit - Ordinance
12137.pdf,15-01485 Exhibit - FL Statue 218.385.pdf,15-01485 Memo -New Resolution Number
1-4-16.pdf,
History of Legislative File
Version: Acting Body:
Date:
Action:
Sent To:
Due Date: Return Date: Result:
1 Office of the City
Attorney
1 Office of the City
Attorney
1 City Commission
1 Office of the Mayor
1 Office of the City Clerk
12/9/2015 Review Pending
12/10/2015 Reviewed and
Approved
12/10/2015 ADOPTED
12/14/2015 Signed by the Mayor Office of the City
Clerk
12/14/2015 Signed and Attested
by City Clerk
Pass
City of Miami Page 2 Printed on 4/13/2018