HomeMy WebLinkAboutR-22-0367City of Miami
Resolution R-22-0367
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 12562 Final Action Date: 9/22/2022
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPORTIONING THE REMAINING MIAMI FOREVER BOND LIMITED AD
VALOREM ("MIAMI FOREVER BOND") FUNDS ALLOCATED TO PARKS AND
CULTURAL FACILITIES IN THE TOTAL NOT TO EXCEED OF AMOUNT OF
FIFTY-TWO MILLION, SIX HUNDRED FIFTY-ONE THOUSAND, SEVEN
HUNDRED SEVENTY-ONE DOLLARS ($52,651,771.00), MINUS THE COST
OF ISSUANCE, TO EACH COMMISSION DISTRICT AS INDICATED IN
EXHIBIT "A," ATTACHED AND INCORPORATED, FOR THE COMMISSIONER
OF EACH DISTRICT TO ALLOCATE AND APPROPRIATE BY FUTURE
RESOLUTION(S) TO ELIGIBLE PROJECTS; ALL ALLOCATIONS OF MIAMI
FOREVER BOND FUNDS BY THE CITY COMMISSION TO ELIGIBLE
PROJECTS ARE SUBJECT TO THE CITY OF MIAMI TAKING ANY AND ALL
NECESSARY ACTIONS TO AMEND THE MULTI -YEAR CAPITAL PLAN AND
COMPLIANCE WITH ALL APPLICABLE LAWS, RULES, REGULATIONS, AND
AUTHORIZATIONS, INCLUDING BUT NOT LIMITED TO, FEDERAL LAWS,
STATE LAWS, THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS
AMENDED, THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED,
AND THE MIAMI FOREVER BOND VALIDATION ORDER.
SPONSOR(S): Commissioner Manolo Reyes
WHEREAS, on November 7, 2017, the registered voters of the City of Miami ("City")
approved by referendum ballot for the City to issue General Obligation Bonds in an aggregate
principal amount not to exceed Four Hundred Million Dollars ($400,000,000.00) with interest
payable at or below the maximum rate allowed by law payable from ad valorem taxes levied on
all taxable property in the City, provided that the capital projects' debt millage not exceed the
current rate of 0.5935, for capital projects to reduce flooding risks; improve stormwater
infrastructure; enhance public safety; and improve affordable housing, economic development,
parks, cultural facilities, streets, and infrastructure ("Miami Forever Bond"); and
WHEREAS, Seventy -Eight Million Dollars ($78,000,000.00) of the Miami Forever Bond
funds were allocated for Parks and Cultural Facilities projects intended to provide world -class
parks and cultural facilities to the residents of the City ("Parks and Cultural Facilities Funds");
and
WHEREAS, the City's objectives for the use of the Parks and Cultural Facilities Funds
are to replace capital assets that are past their useful life; replace and renovate park elements
and facilities; improve the safety and accessibility of all parks and cultural facilities; and to
reduce future maintenance costs; and
WHEREAS, Twenty -Five Million, Three Hundred Forty -Eight Thousand, Two Hundred
Twenty -Nine Dollars ($25,348,229.00) of the Parks and Cultural Facilities Funds have already
been allocated by the City Commission for eligible projects; and
City of Miami Page 1 of 2 File ID: 12562 (Revision: A) Printed On: 6/20/2025
File ID: 12562 Enactment Number: R-22-0367
WHEREAS, one of the themes that the City has developed and implemented for the
Miami Forever Bond is Equity with the purpose of ensuring that the benefits of the Miami
Forever Bond are fairly distributed across the City and all income levels, maintaining the
cohesiveness of the City's social fabric and diversity; and
WHEREAS, the Commissioner for each City Commission District is best situated to
know and understand the needs of his or her respective District; and
WHEREAS, the City Commission believes it is in the best interest of the City to
apportion the remaining Fifty -Two Million, Six Hundred Fifty -One Thousand, Seven Hundred
Seventy -One Dollars ($52,651,771.00), minus cost of issuance, of Parks and Cultural Facilities
Funds to the five (5) Commission Districts as indicated in Exhibit "A," attached and incorporated;
and
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA.
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated as if fully set forth in this Section.
Section 2. The City Commission hereby apportions the remaining Miami Forever Bond
Parks and Cultural Facilities Funds in an amount not to exceed Fifty -Two Million, Six Hundred
Fifty -One Thousand, Seven Hundred Seventy -One Dollars ($52,651,771.00), minus the cost of
issuance, equally between the five (5) Commission Districts as indicated in Exhibit "A," attached
and incorporated, for the Commissioner of each District to allocate and appropriate by future
resolution(s) to eligible projects, subject to the City taking any and all necessary actions to
amend the Multi -Year Capital Plan and to comply with all applicable laws, rules, regulations, and
authorizations, including but not limited to, federal laws, State laws, the Charter of the City of
Miami, Florida, as amended ("City Charter"), the Code of the City of Miami, Florida, as amended
("City Code"), and the Miami Forever Bond Validation Order.
Section 3. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
end ez, pity Httor ey 10/25/2022
City of Miami Page 2 of 2 File ID: 12562 (Revision: A) Printed on: 6/20/2025