HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-18-0277
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 4210
Revision: C
File Type: Resolution
File Name: Refunding Outstanding Obligations & Financing
Capital Projects
Requesting Dept: Department of Finance
Status: ADOPTED WITH
MODIFICATION(S)
Controlling Body: City Commission
Introduced: 5/21/2018
Final Action Date: 6/28/2018
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
RESCINDING RESOLUTION NO. R-16-0374 ADOPTED ON JULY 29, 2016 RELATING
TO THE ISSUANCE BY THE CITY OF MIAMI 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 ADOPTED ON OCTOBER 11, 2007 AND
NOT DERIVED FROM AD VALOREM TAXES; PROVIDING FOR THE ISSUANCE OF
ONE (1) OR MORE ADDITIONAL SERIES OF SUCH SPECIAL OBLIGATION BONDS
IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING ONE HUNDRED
THIRTY SEVEN MILLION THREE HUNDRED THOUSAND DOLLARS
($137,300,000.00) TO BE DESIGNATED AS CITY OF MIAMI ("CITY") SPECIAL
OBLIGATION REFUNDING BONDS, SERIES 2018A (STREET AND SIDEWALK
IMPROVEMENT PROGRAM) AND CITY TAXABLE SPECIAL OBLIGATION
REFUNDING BONDS, SERIES 2018B AND CITY TAXABLE SPECIAL OBLIGATION
REVENUE BONDS, SERIES 2018C (STREET AND SIDEWALK IMPROVEMENT
PROGRAM) (COLLECTIVELY, "SERIES 2018 BONDS") FOR THE PRINCIPAL
PURPOSE OF REFUNDING CERTAIN OUTSTANDING OBLIGATIONS AND
FINANCING CAPITAL PROJECTS; PROVIDING THAT THE SERIES 2018 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 ADOPTED ON
OCTOBER 11, 2007 AND NOT DERIVED FROM AD VALOREM TAXES; DELEGATING
TO THE CITY MANAGER AUTHORITY TO DETERMINE THE TERMS OF THE SERIES
2018 BONDS WITHIN PRESCRIBED PARAMETERS; DESIGNATING A BOND
REGISTRAR AND PAYING AGENT FOR THE SERIES 2018 BONDS; AUTHORIZING
THE CITY MANAGER TO NEGOTIATE AND EXECUTE, IN A FORM ACCEPTABLE TO
THE CITY ATTORNEY, BOND COUNSEL, CHIEF FINANCIAL OFFICER, AND
FINANCE DIRECTOR, A PAYING AGENT AND BOND REGISTRAR AGREEMENT;
FINDING NECESSITY FOR A NEGOTIATED SALE OF THE SERIES 2018 BONDS;
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, BOND COUNSEL, CHIEF FINANCIAL
OFFICER, FINANCE DIRECTOR, AND FINANCIAL ADVISOR, A BOND PURCHASE
CONTRACT; APPROVING THE INITIAL DRAFT FORM AND AUTHORIZING THE CITY
MANAGER TO UPDATE, FINALIZE, AND DISTRIBUTE, IN A FORM ACCEPTABLE TO
THE CITY ATTORNEY, CHIEF FINANCIAL OFFICER, FINANCE DIRECTOR,
DISCLOSURE COUNSEL, AND FINANCIAL ADVISOR, OF A PRELIMINARY LIMITED
OFFERING MEMORANDUM AND A FINAL LIMITED OFFERING MEMORANDUM
RELATING TO THE SERIES 2018 BONDS; AUTHORIZING THE CITY MANAGER TO
NEGOTIATE FOR AND OBTAIN CREDIT FACILITIES AND RESERVE ACCOUNT
CREDIT FACILITIES AND TO EXECUTE AGREEMENTS RELATING THERETO WITH
City of Miami Page 1 of 2 Printed on: 4/2/2026
City of Miami
Master Report
Enactment Number: R-18-0277
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
RESPECT TO THE SERIES 2018 BONDS; AUTHORIZING THE CITY MANAGER TO
NEGOTIATE AND EXECUTE, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY,
CHIEF FINANCIAL OFFICER, FINANCE DIRECTOR, BOND COUNSEL, AND
DISCLOSURE COUNSEL, A CONTINUING DISCLOSURE AGREEMENT WITH
RESPECT TO THE SERIES 2018 BONDS; DESIGNATING AN ESCROW AGENT;
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, CHIEFFINANCIAL OFFICER, FINANCE
DIRECTOR, FINANCIAL ADVISOR, AND BOND COUNSEL, AN ESCROW DEPOSIT
AGREEMENT; MAKING CERTAIN COVENANTS AND AGREEMENTS FOR THE
BENEFIT OF THE HOLDERS OF THE SERIES 2018 BONDS; AUTHORIZING THE
CITY MANAGER AND ALL OTHER CITY OFFICIALS TO TAKE SUCH ACTIONS
DEEMED NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE, AND
DELIVERY OF THE SERIES 2018 BONDS, IN CONSULTATION WITH THE CITY
ATTORNEY, BOND COUNSEL, DISCLOSURE COUNSEL, CHIEF FINANCIAL
OFFICER, FINANCE DIRECTOR, AND FINANCIAL ADVISOR; PROVIDING FOR
SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE
Notes:
Links:
Attachments: 4210 Memo From City Manager (PDF)
4210 Exhibits A and B SUB (PDF)
4210 Exhibit C SUB (PDF)
4210 Pre -Legislation (PDF)
4210 File Correction Memo (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Erica T. Paschal 5/30/2018 Department Head Review Completed
Donovan Dawson 6/7/2018 Budget Analyst Review Completed
Christopher M Rose 6/7/2018 Budget Review Completed
Sandra Bridgeman 6/14/2018 Assistant City Manager Review Completed
Nikolas Pascual 6/15/2018 City Manager Review Completed
Legislative Division 6/18/2018 Legislative Division Review Completed
Barnaby L. Min 6/19/2018 Deputy City Attorney Review Completed
Barnaby L. Min 6/19/2018 Approved Form and Completed
Correctness
A Legislative Division 6/25/2018 Legislative Division Review Completed
A City Commission 6/28/2018 Meeting Completed
A City Commission 6/28/2018 ADOPTED WITH Passed
MODIFICATION(S)
B Mayor's Office 7/9/2018 Signed by the Mayor Completed
B City Clerk's Office 7/9/2018 Signed and Attested by the City Completed
Clerk
B Legislative Division 8/21/2018 Legislative Division Review Completed
B Barnaby L. Min 8/23/2018 Deputy Attorney Review Completed
C Victoria Mendez 8/31/2018 Approved Form and Completed
Correctness
C City Clerk's Office 8/31/2018 Rendered Completed
C Victoria Mendez 11/20/2018 Approved Form and Completed
Correctness with Modification(s)
City of Miami Page 2 of 2 Printed on: 4/2/2026