HomeMy WebLinkAboutNotice to the PublicCITY OF MIAMI, FLORIDA
ENTER -OFFICE MEMORANDUM
TO: Todd B. Hannon
City Clerk
DATE: May 27, 2021
FROM: Erica Paschal -Darling, CPA SUBJECT: FP&L Undergrounding
Finance Director Paschal, Erica `;„,3D71z371T3x
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Enclosed you will find -an ad for notice of a public hearing to be held by the City
Commission on June 10, 2021 for the purpose of authorizing the issuance of tax-exempt
non -ad valorem special obligation revenue bonds for the purposes of financing the City's
portion of a capital project in an amount not to exceed twenty-seven million dollars.
Please, place the ad in accordance with public hearing requirements of the City
Commission.
Thank you for your assistance in this matter_
APPROVED:
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Miriam M. Santana, Agenda Coordinator
CITY OF MIAMI, FLORIDA
NOTICE OF PUBLIC HEARING
A public hearing will be held by the City Commission of the City of Miami, Florida on Thursday,
June 10, 2021, at 9:00 A.M. at City Hall, located at 3500 Pan American Drive, Miami, Florida,
33133, for the purpose of granting the following:
A RESOLUTION OF THE MIAMI CITY COMMISSION ("CITY COMMISSION") OF THE CITY OF
MIAMI, FLORIDA ("CITY"), WITH ATTACHMENT(S), AUTHORIZING THE ISSUANCE OF THE
NOT TO EXCEED TWENTY SEVEN MILLION DOLLARS ($27,000,000) TAX EXEMPT NON -AD
VALOREM SPECIAL OBLIGATION REVENUE BOND, SERIES 2021 (FP&L
UNDERGROUNDING PROJECT) ("BOND") FOR THE PURPOSES OF FINANCING THE
CITY'S PORTION OF A CERTAIN CAPITAL PROJECT AND PAYING COSTS OF ISSUANCE
AND OTHER COSTS RELATED THERETO; PROVIDING THAT THE BOND SHALL BE A
LIMITED OBLIGATION OF THE CITY PAYABLE FROM PLEDGED REVENUES, AS PROVIDED
HEREIN; PROVIDING FOR THE RIGHTS, SECURITY, AND REMEDIES FOR THE OWNER OF
THE BOND; APPROVING THE SELECTION OF THE PROPOSAL FROM AND AUTHORIZING
THE PRIVATE NEGOTIATED SALE OF SUCH BOND TO STERLING NATIONAL BANK, AS
THE LENDER ("LENDER"), PURSUANT TO THE TERMS AND CONDITIONS DESCRIBED
HEREIN; AUTHORIZING THE CITY MANAGER TO DETERMINE THE INTEREST RATE FOR
THE BOND WITHIN SUCH PARAMETERS AS SET FORTH HEREIN, SETTING CERTAIN
BASIC PARAMETERS OF THE TERMS AND CONDITIONS OF THE LOAN AGREEMENT AND
THE BOND, AND AUTHORIZING THE CITY MANAGER TO NEGOTIATE, EXECUTE, AND
DELIVER, AFTER CONSULTATION WITH THE CHIEF FINANCIAL OFFICER, FINANCE
DIRECTOR, FINANCIAL ADVISOR, CITY CLERK, RISK MANAGEMENT DIRECTOR, CITY
ATTORNEY, AND BOND COUNSEL, A LOAN AGREEMENT, THE BOND, AND ANY AND ALL
NECESSARY OTHER DOCUMENTS, CERTIFICATES, AND INSTRUMENTS, INCLUDING
MODIFICATIONS, EXTENSIONS, RENEWALS, AND AMENDMENTS THERETO, ALL FOR
THE CITY TO FINANCE THE CITY'S PORTION OF FUNDING FOR THE FP&L
UNDERGROUNDING PROJECT WITHIN THE DESIGNATED CITY AREAS DESCRIBED
BELOW ("PROJECT"); AUTHORIZING OTHER REQUIRED ACTIONS BY THE CITY
MANAGER, CITY CLERK, CHIEF FINANCIAL OFFICER, FINANCE DIRECTOR, RISK
MANAGEMENT DIRECTOR, FINANCIAL ADVISORS, CITY ATTORNEY, BOND COUNSEL,
AND ANY OTHER NECESSARY CITY OFFICIALS; RATIFYING, APPROVING, AND
CONFIRMING CERTAIN NECESSARY ACTIONS OF THE CITY MANAGER AND
DESIGNATED CITY OFFICIALS IN ORDER TO UPDATE THE RELEVANT CAPITAL
PROJECTS, FINANCIAL CONTROLS, PROJECT CLOSE-OUTS, COMPLETED PROJECTS,
ACCOUNTING ENTRIES, AND COMPUTER SYSTEMS IN CONNECTION WITH THE CITY
FUNDING FOR THE PROJECT AND WITH ONGOING COMPLIANCE FOR THE BOND;
FURTHER AUTHORIZING THE CITY MANAGER, CITY CLERK, CHIEF FINANCIAL OFFICER,
FINANCE DIRECTOR, RISK MANAGEMENT DIRECTOR, FINANCIAL ADVISOR, CITY
ATTORNEY, BOND COUNSEL, AND ALL OTHER NECESSARY CITY OFFICIALS TO
UNDERTAKE AND TO PROVIDE FOR EXECUTIONS AND DELIVERIES OF ALL NECESSARY
DOCUMENTS, DISCLOSURES, CERTIFICATIONS, AND NOTICES FOR CONTINUING
COMPLIANCE FOR THE LOAN AND THE BOND IN ACCORDANCE WITH U.S. INTERNAL
REVENUE SERVICE, U.S. SECURITIES AND EXCHANGE COMMISSION, CHARTER OF THE
CITY OF MIAMI, AS AMENDED, CODE OF THE CITY OF MIAMI, AS AMENDED, THE INTENT
TO REIMBURSE RESOLUTION (AS DEFINED BELOW), AND OTHER FEDERAL, STATE OF
FLORIDA, AND LOCAL LAWS, RULES, REGULATIONS, AND REQUIREMENTS; AND
PROVIDING AN EFFECTIVE DATE.
Said proposed resolution may be inspected by the public at the Office of the City Clerk, 3500 Pan
American Drive, Miami, Florida 33133, Monday through Friday, excluding holidays, between the
hours of 8 a.m. and 5 p.m., or http://miamifl.iqm2.com five days before the date of the Commission
Meeting.
The Miami City Commission requests all interested parties be present or represented at the
meeting and may be heard with respect to any proposition before the City Commission in which
the City Commission may take action. Should any person desire to appeal any decision of the
City Commission with respect to any matter to be considered at this meeting, that person shall
ensure that a verbatim record of the proceedings is made including all testimony and evidence
upon which any appeal may be based (F.S. 286.0105).
In accordance with the Americans with Disabilities Act of 1990, persons needing special
accommodations to participate in this proceeding may contact the Office of the City Clerk at (305)
250-5361 (Voice) no later than five (5) business days prior to the proceeding. TTY users may call
via 711 (Florida Relay Service) no later than five (5) business days prior to the proceeding.
(City Seal)
Ad No. 36412
Todd B. Hannon
City Clerk