HomeMy WebLinkAboutR-77-0347MOT-77- 04
RFC/rb
4/14/77
RESOLUTION NO. ,14._.. ._
A RESOLUTION AUTHORIt ING THE CITY MANAGER
TO CONTINUE HIS EFFORTS TO SECURE FUNDING
FOR THE TRADE FAIR of THE AMERICAS PROJECT,
SUBJECT TO THE APPROVAL OF THE CITY COM-
MISSION, AND FURTHER EXPRESSING THE INTENT
OF THE CITY COMMISSION TO APPROVE THE PROPOSED
BUDGET Fo1 THE SAID TRADE FAIR PROJECT AS
OUTLINED IN THE ATTACHED MEMORANDUM DATED
APRIL 1, 1977 FROM CHARLES L. CRUMPTON,
ASSISTANT CITY MANAGER, TO JOSEPH R. GRASSIE,
CITY MANAGER, AND MAKING CERTAIN RECOMMENDA-
TIONS WITH RESPECT TO GUARANTEES BY THE CITY
TO MAKE UP THE DIFFERENCE BETWEEN ESTIMATED
REVENUES OF THE PROJECT AND PROJECTED EXPENSES
THEREFOR, AND FURTHER RECOMMENDING THE ESTAB-
LISHMENT OF A $750,000 REIMBURSABLE FUND ?OR
THE PAYMENT OF IMMEDIATE AND ONGOING EXPENSES;
FURTHER RECOGNIZING THAT MONIES FOR THE AFORE-
SAID GUARANTEE ARE TO BE FUNDED IN PART FROM
1976-77 BUDGET FUNDS AND PARTLY FROM PROPOSED
1977-78 BUDGET FUNDS; AND FURTHER PROVIDING
THAT UNDER NO CIRCUMSTANCES SHALL CITY
EXPENDITURES FROM THE DATE HEREOF THROUGH
JUNE 15, 1977 EXCEED $75,000.
WHEREAS, the City Commission has received a copy
of the proposed budget of the TRADE FAIR OF THE AMERICAS
by means of a transmittal memorandum dated April 1, 1977
from Charles L. Crumpton, Assistant City Manager, to Joseph
R. Grassie, City Manager, a copy of which , Ogtac;hed he, etq,
:, . , .` G It
and trade a part hereof; ITEM NO.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION
OF THE CITY OF MIAMI, FLORIDA;
Section 1. The intent of the City Commission is
hereby expressed as follows;
A. The proposed budget for the TRADE FAIR OF
THE AMERICAS, as outlined in the April I, 1977 memorandum
from Charles L. Crumpton, Assistant City Manager, to
71
Joseph R. Crassie, City Manager, is considered reasonable
and satisfactory.
B. The following recommendations contained in
the aforesaid memorandum are also considered to be meritor-
ious, subject to the restrictions and limitations hereinafter
expressed:
"That the City guarantee up to $350,000.00
for this project which is the difference
between estimated revenues and projected
expenses;"further,
"That a reimbursable fund of $750,000.00
be established and funded at this time to
pay immediate and on -going expenses. It
is estimated that $400,000.00 of these
funds will be reimbursed to the City by
the end of March 1978."
C. (i) It is recognized that the guarantee of
$350,000 will be increased to $381,000 for the herein
trade fair project and the monies for said guarantee
are to be funded in part from 1976-77 budget funds
and partly from proposed 1977-78 budget funds.
(ii) It is understood that under no cir-
cumstances should expenditures from the date hereof
through June 15, 1977 exceed $75,000.
(iii) The City Manager is hereby authorized
to continue his efforts to secure funding for the herein
trade fair project, subject to the approval of the City
Commission.
PASSED AND ADOPTED this 14th day of APRIL. 1977.
MAYOR
ATTEST:
RALPR G' . ONOIE
C ITV` CLERK
PREPARED AND APPROVED Et:
RODERT P, CLARK
ASSISTANT CITY ATTORNEY
AFR•VED AS TO FORM AND CORRECTNESS:
GEORGE
CITY
. KNOX, JR.
TORNE'Y