HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-17-0071
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 1625
Revision: A
File Name: Refinance - Sidewalk Bonds
Requesting Dept: Department of Finance
File Type: Resolution Status: ADOPTED WITH
MODIFICATION(S)
Controlling Body: City Commission
Introduced: 1/6/2017
Final Action Date: 2/9/2017
Title: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF MIAMI, FLORIDA
("CITY"), WITH ATTACHMENT(S), RESCINDING RESOLUTION NO. 16-0374
ADOPTED BY THE CITY COMMISSION ON JULY 29, 2016 AND 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 $130,000,000.00, TO BE DESIGNATED CITY OF MIAMI, FLORIDA
SPECIAL OBLIGATION REFUNDING BONDS, SERIES 2017 (STREET AND SIDEWALK
IMPROVEMENT PROGRAM) ("SERIES 2017 BONDS"), FOR THE PRINCIPAL
PURPOSE OF REFUNDING CERTAIN OUTSTANDING OBLIGATIONS; PROVIDING
THAT THE SERIES 2017 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 AND
REDEMPTION PREMIUM, IF ANY, 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 2017 BONDS WITHIN
PRESCRIBED PARAMETERS; DESIGNATING A BOND REGISTRAR AND PAYING
AGENT FOR THE SERIES 2017 BONDS; AUTHORIZING THE CITY MANAGER TO
NEGOTIATE AND EXECUTE, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY,
BOND COUNSEL, DISCLOSURE COUNSEL, FINANCIAL ADVISOR, AND THE
FINANCE DIRECTOR, A PAYING AGENT AND BOND REGISTRAR AGREEMENT;
FINDING NECESSITY FORA NEGOTIATED SALE OF THE SERIES 2017 BONDS;
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, BOND COUNSEL, DISCLOSURE COUNSEL,
THE FINANCE DIRECTOR, AND THE FINANCIAL ADVISOR, A BOND PURCHASE
CONTRACT; APPROVING THE INITIAL DRAFT 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, BOND COUNSEL, AND THE FINANCIAL ADVISOR, A PRELIMINARY
LIMITED OFFERING MEMORANDUM AND A FINAL LIMITED OFFERING
MEMORANDUM RELATING TO THE SERIES 2017 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 2017 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
City of Miami Page 1 of 2 Printed on: 3/13/2025
City of Miami
Master Report
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Enactment Number: R-17-0071
SERIES 2017 BONDS; DESIGNATING AN ESCROWAGENT; AUTHORIZING THE CITY
MANAGER TO NEGOTIATE AND EXECUTE, IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY, THE FINANCE DIRECTOR, DISCLOSURE COUNSEL, AND BOND
COUNSEL, AN ESCROW DEPOSIT AGREEMENT; MAKING CERTAIN COVENANTS
AND AGREEMENTS FOR THE BENEFIT OF THE HOLDERS OF THE SERIES 2017
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 2017 BONDS, IN CONSULTATION WITH THE
CITY ATTORNEY, BOND COUNSEL, DISCLOSURE COUNSEL, AND THE FINANCIAL
ADVISOR; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.
Notes:
Links:
Attachments: 1625 Exhibit A (PDF)
1625-Exhibit B-SUB (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Jose M Fernandez 1/24/2017 Department Head Review Completed
Donovan Dawson 1/25/2017 Budget Analyst Review Completed
Christopher M Rose 1/26/2017 Budget Review Completed
Fernando Casamayor 1/30/2017 Assistant City Manager Review Completed
Daniel J. Alfonso 1/31/2017 City Manager Review Completed
City Commission 2/9/2017 Meeting Completed
City Commission 2/9/2017 ADOPTED WITH Passed
MODIFICATION(S)
A Mayor's Office 2/13/2017 Signed by the Mayor Completed
A Office of the City Clerk 2/13/2017 Signed and Attested by the City Completed
Clerk
A Victoria Mendez 6/23/2017 Approved Form and Completed
Correctness with Modification(s)
City of Miami Page 2 of 2 Printed on: 3/13/2025