HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-20-0315
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 7798 File Type: Resolution
Revision: A
File Name: Amend Supplemental Resolution - Santander Bank
Requesting Dept: Department of Finance
Status: ADOPTED
Controlling Body: City Commission
Introduced: 8/21/2020
Final Action Date: 10/8/2020
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENTS, BY A
FOUR -FIFTHS (4/STHS) AFFIRMATIVE VOTE, AFTER A DULY ADVERTISED PUBLIC
HEARING, RATIFYING, APPROVING, AND CONFIRMING THE CITY MANAGER'S
WRITTEN RECOMMENDATIONS AND FINDINGS, ATTACHED AND INCORPORATED
AS EXHIBIT "A", PURSUANT TO SECTION 18-85(A) OF THE CODE OF THE CITY OF
MIAMI, FLORIDA, AS AMENDED ("CITY CODE"); WAIVING THE REQUIREMENTS
FOR ADDITIONAL COMPETITIVE SEALED BIDDING METHODS AND PROCEDURES
AS NOT BEING PRACTICABLE OR ADVANTAGEOUS TO THE CITY OF MIAMI
("CITY"); AMENDING AND SUPPLEMENTING THE PROVISIONS OF RESOLUTION
NO. R-19-0207 ADOPTED MAY 23, 2019, ATTACHED AND INCORPORATED AS
PART OF COMPOSITE EXHIBIT "A" ("MASTER RESOLUTION"), FOR THE CITY OF
MIAMI'S ("CITY") TAX-EXEMPT MASTER VEHICLE LEASE PURCHASE AGREEMENT,
ATTACHED AND INCORPORATED AS PART OF COMPOSITE EXHIBIT "A" ("MASTER
AGREEMENT"), WITH SANTANDER BANK FOR THE PROVISION OF CAPITAL
FINANCING FOR THE ACQUISITION OF POLICE VEHICLES, GENERAL LIGHT
FLEET VEHICLES, GENERAL HEAVY FLEET VEHICLES, AND FIRE APPARATUS
VEHICLES AND FOR PAYMENT OF THE FINANCING COSTS OF THE SAME IN AN
AMOUNT NOT TO EXCEED THIRTY-SIX MILLION DOLLARS ($36,000,000.00),
WHICH WAS ORIGINALLY ADVERTISED PURSUANT TO THE REQUEST FOR
PROPOSALS ISSUED APRIL 22, 2019 BY THE CITY'S FINANCIAL ADVISOR PUBLIC
FINANCIAL MANAGEMENT, INC. ("PFM") WITH THE ORIGINAL SELECTION OF THE
PROPOSAL SUBMITTED BY SANTANDER BANK; APPROVING THE CHANGES OF
MAXIMUM INTEREST RATE AND INTEREST RATE CALCULATION FORMULA AS
DESCRIBED IN EXHIBIT "B," ATTACHED AND INCORPORATED, FOR THE SECOND
DRAW NOT TO EXCEED SIXTEEN MILLION, THREE HUNDRED EIGHTEEN
THOUSAND, EIGHT HUNDRED SEVENTY-SEVEN DOLLARS AND NINETY-EIGHT
CENTS ("SECOND DRAW") AND ANY FUTURE DRAWS THEREAFTER UNDER THE
MASTER AGREEMENT THROUGH MARCH 30, 2021 FOR THE REMAINING TOTAL
AMOUNT UNDER THE MASTER RESOLUTION AND MASTER AGREEMENT NOT TO
EXCEED TWENTY-SIX MILLION, SEVEN HUNDRED FORTY-THREE THOUSAND,
SEVEN HUNDRED TWENTY-ONE DOLLARS AND FORTY-FOUR CENTS
($26,743,721.44); AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND
EXECUTE A SUPPLEMENT AND AMENDMENT TO THE MASTER AGREEMENT FOR
SAID CHANGES IN THE MAXIMUM INTEREST RATE AND INTEREST RATE
CALCULATION FORMULA FOR THE SECOND DRAW AND ANY FUTURE DRAWS
THEREAFTER, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY AND TAX-
EXEMPT LEASE/PURCHASE COUNSEL, AND ANY AND ALL OTHER AMENDMENTS
AND DOCUMENTS REQUIRED BY SAID MASTER AGREEMENT PROVIDED THAT
THE TERMS ARE CONSISTENT AND IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY AND TAX-EXEMPT LEASE/PURCHASE COUNSEL; FURTHER
AUTHORIZING THE CITY MANAGER TO TAKE ANY AND ALL ACTIONS NECESSARY
TO EFFECTUATE SAID LEASE/PURCHASE ACQUISITIONS OF THE CAPITAL
EQUIPMENT TO BE FUNDED BY THE SECOND DRAW AND ANY FUTURE DRAWS
UNDER THE MASTER AGREEMENT, AS AMENDED, THROUGH MARCH 30, 2021,
City of Miami Page 1 of 2 Printed on: 5/12/2025
City of Miami
Master Report
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Enactment Number: R-20-0315
SUBJECT TO THE AVAILABILITY OF FUNDS AND BUDGETARY APPROVAL AT THE
TIME OF NEED; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN
EFFECTIVE DATE.
Notes: Revision A has the Scriveners amendment made by law department, and per legal opinion ,
it may be certified instead of the original version.
Links:
Attachments: 7798 Scriveners Error Memo (PDF)
7798 Composite Exhibit A SUB (PDF)
7798 Exhibit B (PDF)
7798 Notice to the Public (PDF)
7798 Back -Up from Law Dept (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Erica T Paschal 9/2/2020 Department Head Review Completed
Annie Perez 9/3/2020 Department Head Review Completed
Donovan Dawson 9/11/2020 Budget Analyst Review Completed
Christopher M Rose 9/15/2020 Budget Review Completed
Sandra Bridgeman 9/15/2020 Assistant City Manager Review Completed
Arthur Noriega V 9/15/2020 City Manager Review Completed
Legislative Division 9/15/2020 Legislative Division Review Completed
Barnaby L. Min 9/15/2020 Deputy City Attorney Review Completed
Victoria Mendez 9/15/2020 Approved Form and Completed
Correctness
City Commission 9/24/2020 Meeting Completed
City Commission 9/24/2020 DEFERRED Passed
City Commission 10/8/2020 Meeting Completed
City Commission 10/8/2020 ADOPTED Passed
Mayor's Office 10/14/2020 Unsigned by the Mayor Completed
City Clerk's Office 10/14/2020 Signed and Attested by the City Completed
Clerk
City Clerk's Office 10/14/2020 Rendered Completed
A Legislative Division 10/23/2020 Legislative Division Review Completed
A Xavier Alban 10/23/2020 ACA Review Completed
A Barnaby L. Min 10/24/2020 Deputy Attorney Review Completed
A Victoria Mendez 10/26/2020 Approved Form and Completed
Correctness
City of Miami Page 2 of 2 Printed on: 5/12/2025