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HomeMy WebLinkAboutMaster ReportCity of Miami Master Report Enactment Number: R-17-0542 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 3121 Revision: B File Name: Issuance - Special Obligation Bond 2009 Requesting Dept: Department of Finance File Type: Resolution Status: ADOPTED WITH MODIFICATION(S) Controlling Body: City Commission Introduced: 10/16/2017 Final Action Date: 11/16/2017 Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($7,500,000.00) IN AGGREGATE PRINCIPAL AMOUNT OF A CITY OF MIAMI ("CITY") SPECIAL OBLIGATION NON -AD VALOREM REVENUE REFUNDING NOTE, TAXABLE PENSION SERIES 2017 ("NOTE") AND THE COSTS OF ISSUANCE THEREOF; APPROVING THE SELECTION OF THE PRIVATE PLACEMENT PROPOSAL FROM PNC BANK, NATIONAL ASSOCIATION ("PURCHASER" AND "LENDER") AND PROVIDING FOR THE PRIVATE PLACEMENT WITH AND NEGOTIATED SALE OF SAID NOTE TO THE LENDER; SETTING CERTAIN BASIC PARAMETERS OF THE TERMS AND CONDITIONS OF A LOAN AGREEMENT AND THE NOTE AND AUTHORIZING THE NEGOTIATION, EXECUTION, AND DELIVERY OF A LOAN AGREEMENT, THE NOTE, AND ANY AND ALL OTHER NECESSARY AGREEMENTS, DOCUMENTS, AND INSTRUMENTS IN CONNECTION THEREWITH; MAKING CERTAIN FINDINGS AND DETERMINATIONS; AUTHORIZING ALL REQUIRED ACTIONS BY THE CITY MANAGER, CITY ATTORNEY, BOND COUNSEL, CHIEF FINANCIAL OFFICER, FINANCE DIRECTOR, FINANCIAL ADVISOR, AND ALL OTHER CITY OFFICIALS IN CONNECTION THEREWITH; FURTHER AUTHORIZING THE CITY MANAGER, CITY ATTORNEY, CHIEF FINANCIAL OFFICER, FINANCE DIRECTOR, FINANCIAL ADVISOR, BOND COUNSEL, BOND REGISTRARS, NOTE REGISTRAR, ESCROW AGENT, PAYING AGENTS, AND ALL OTHER NECESSARY CITY OFFICIALS TO UNDERTAKE THE NECESSARY STEPS AND TO NEGOTIATE, EXECUTE, AND DELIVER ANY AND ALL NECESSARY ESCROW DEPOSIT AGREEMENTS, NOTICES, DOCUMENTS, AND INSTRUMENTS IN CONNECTION WITH THE REDEMPTION OF SIX MILLION THREE HUNDRED EIGHTY-FIVE THOUSAND DOLLARS ($6,385,000.00) OF THE CITY'S OUTSTANDING PRINCIPAL AMOUNT OF THE CITY'S NON -AD VALOREM REFUNDING REVENUE BONDS, TAXABLE PENSION SERIES 2009 ("SERIES 2009 BONDS"); AUTHORIZING THE TRANSFER OF ALL REMAINING PROCEEDS AND INTEREST ON THE SERIES 2009 BONDS, IF ANY, FOR REDEMPTION IN ACCORDANCE WITH THE AUTHORIZING RESOLUTION (AS DEFINED BELOW) AND CONTINUING DISCLOSURE AGREEMENT (AS DEFINED BELOW) FOR CONTINUING COMPLIANCE FOR THE SERIES 2009 BONDS; DELEGATING AUTHORITY TO THE CITY MANAGER TO SELECT AND APPOINT THE ESCROW AGENT AND THE VERIFICATION AGENT; 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. Notes: Revision B has the Scrivener's amendment by law department and per legal opinion, it may be certified instead of revision A. City of Miami Page 1 of 2 Printed on: 3/19/2026 City of Miami Master Report Enactment Number: R-17-0542 Links: Attachments: 3121 Back -Up Documents (PDF) 3121-Legislation-Sub Memo From City Manager (PDF) 3121-Legislation-Sub (PDF) 3121-Scrivener's Error Memo (PDF) 3121 Composite Exhibit A (PDF) History of Legislative File: City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Revision: Acting Body: Date: Action: Result: Erica T. Paschal 10/19/2017 Department Head Review Completed Pedro Lacret 10/20/2017 Budget Analyst Review Completed Christopher M Rose 11/3/2017 Budget Review Completed Fernando Casamayor 11/3/2017 Assistant City Manager Review Completed Daniel J. Alfonso 11/3/2017 City Manager Review Completed A City Commission 11/16/2017 Meeting Completed A City Commission 11/16/2017 ADOPTED WITH Passed MODIFICATION(S) B Mayor's Office 11/27/2017 Signed by the Mayor Completed B City Clerk's Office 11/27/2017 Signed and Attested by the City Completed Clerk B Legislative Division 12/1/2017 Legislative Division Review Completed B Victoria Mendez 12/1/2017 Approved Form and Completed Correctness with Modification(s) B City Clerk's Office 12/1/2017 Rendered Completed City of Miami Page 2 of 2 Printed on: 3/19/2026