HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-16-0374
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 16-00936
Version: 1
File Type: Resolution Status: Passed
Reference: Controlling Body: Office of the City
Clerk
File Name: Special Obligation Bonds - Street & Sidewalk Prgm. Introduced: 6/24/2016
Requester: Department of Finance Cost: Final Action: 7/29/2016
Title: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF MIAMI, FLORIDA,
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 $130,000,000, TO BE DESIGNATED
CITY OF MIAMI, FLORIDA SPECIAL OBLIGATION REFUNDING BONDS, SERIES 2016
(STREET AND SIDEWALK IMPROVEMENT PROGRAM), FOR THE PRINCIPAL PURPOSE OF
REFUNDING CERTAIN OUTSTANDING OBLIGATIONS; PROVIDING THAT THE SERIES 2016
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;
DELEGATING TO THE CITY MANAGER AUTHORITY TO DETERMINE THE TERMS OF THE
SERIES 2016 BONDS WITHIN PRESCRIBED PARAMETERS; DESIGNATING A BOND
REGISTRAR AND PAYING AGENT FOR THE SERIES 2016 BONDS; AUTHORIZING THE CITY
MANAGER TO NEGOTIATE AND EXECUTE, IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY, BOND COUNSEL, AND THE FINANCE DIRECTOR, A PAYING AGENT AND BOND
REGISTRAR AGREEMENT; FINDING NECESSITY FOR A NEGOTIATED SALE OF THE SERIES
2016 BONDS; AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE, IN A
FORM ACCEPTABLE TO THE CITY ATTORNEY, BOND COUNSEL, THE FINANCE DIRECTOR,
AND THE FINANCIAL ADVISOR, A BOND PURCHASE CONTRACT; APPROVING THE
INITIAL FORM OF AND AUTHORIZING THE CITY MANAGER TO UPDATE, FINALIZE, AND
DISTRIBUTE, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, THE FINANCE DIRECTOR,
DISCLOSURE COUNSEL, AND THE FINANCIAL ADVISOR, A PRELIMINARY LIMITED
OFFERING MEMORANDUM AND A FINAL LIMITED OFFERING MEMORANDUM RELATING
TO THE SERIES 2016 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 2016 BONDS;
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, THE FINANCE DIRECTOR, BOND COUNSEL, AND
DISCLOSURE COUNSEL, A CONTINUING DISCLOSURE AGREEMENT WITH RESPECT TO
THE SERIES 2016 BONDS; DESIGNATING AN ESCROW AGENT; AUTHORIZING THE CITY
MANAGER TO NEGOTIATE AND EXECUTE, IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY, THE FINANCE DIRECTOR, AND BOND COUNSEL, AN ESCROW DEPOSIT
AGREEMENT; MAKING CERTAIN COVENANTS AND AGREEMENTS FOR THE BENEFIT OF
THE HOLDERS OF THE SERIES 2016 BONDS; AUTHORIZING THE CITY MANAGER AND ALL
OTHER CITY OFFICIALS TO DO ALL THINGS DEEMED NECESSARY IN CONNECTION WITH
THE ISSUANCE, SALE AND DELIVERY OF THE SERIES 2016 BONDS, IN CONSULTATION
City ofMiami Page 1 Printed on 5/17/2018
City of Miami
Master Report
Enactment Number: R-16-0374
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
WITH THE CITY ATTORNEY, BOND COUNSEL, DISCLOSURE COUNSEL, AND THE
FINANCIAL ADVISOR; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE
DATE.
Sponsors:
Notes:
Indexes:
Attachments: 16-00936 Summary Form.pdf,16-00936 Back -Up Documents.pdf,16-00936 Legislation.pdf,16-00936
Exhibit A.pdf,16-00936 Exhibit B.pdf,
History of Legislative File
Version: Acting Body:
Date:
Action:
Sent To:
Due Date: Return Date: Result:
1
1
1
1
1
Office of the City
Attorney
City Commission
Office of the Mayor
7/27/2016 Review Pending
7/29/2016 ADOPTED
8/8/2016 Signed by the Mayor Office of the City
Clerk
Office of the City Clerk 8/8/2016
Office of the City
Attorney
Signed and Attested
by City Clerk
8/30/2016 Reviewed and
Approved
Pass
City of Miami Page 2 Printed on 5/17/2018