HomeMy WebLinkAboutR-77-0660rrrrrrr�
RESO t1TION N0. 7',
A RESOLU'f'I0N YIXINU UERTAI!1 I:C:TAILS COtIv.
C[3RNING $11,540)000 PIIL'I.,1C PI:Iit! AND Iil`.=
CREAT10NAI. A'ACILITIIE;. BONDS) S1,000,000
HOUSING B0NDS AND !;;; I , U00,OO'1 FIRE 'r1Gi!'ia
-ING, Pllil'E 1'ii' ;IEoTruo AND Re,:;;,..-, I'ACILTTIL -
I30NDS OP THE CI'i''a' FBOR1DA, k!?b
DIRECTING PUi3LICATION Uio MOTlCi: OP SALE
OF SAID 00000
WHEREAS) the Commission is sion of the City of
thereinafter sometimes calle,i the "Ci ty Commission
16th day of December, 1976, duly passed and adopt'
lowing resolution providing for the issuance
the City of Miami (hereinafter sometimes c
Resolution No. 76-1104, providing
`•of not exceeding $25,000,000 IlousinYBond.s
of the City of
Hiami, Florida, to consist of 5,000 s of the denomination
of $5,000 each, said bonds t• e issued one rc or from •
irne to time ar.i to be dated she ter provided
by resolution or reso ions o " _ ;:ission, and to',
mature as : o__ c,•:
cars Ye • Years
•After Afi' After
Da•Le or Principal Date or Ic y ul Da:.. or Principal
• Dates Amount Dates 'mount Dates Amount
2 $ 400,40 S 700,000 21 $ 900,000
-. 3 L00, 0 1 700,000 22 1,200,000
4 400,000 14 700,000 23 1,20C,000
400,000 15 • 700,005 24 1,200,000
r40v 000 16
7e0,0025 1,200,000
500,000 17 900,000 26 1,200,000
-500,000 18 • 900,000 27 1)500,000
500,000 19 • 900,000 28 1,5(0,000
500,000 20 900,000 29 1,700,000
)00,000 ,30 1,800,000
r;ROAS, the City Commission en tho 13th oaf of
everib.c t , 1976, duly passed and adopted thci-
solution providing for the issuance of bonds of the 0 t,y:
Repealed by R-77-0937
CITY COMMISSION
MEETING OF
JUL2 U 1977
REVcxurrori „07 7 - 6 6
11111111
Resolution Ho, 76-.10595 providing for the issuance
of txceedin( $103000,000 Fire Fighting) Fire Prevention
Rescue Facilities Bonds, to consist of 2,000 bond.. of the
denotni.nation of $5,000 each, said bonds to be issued at one
tite or from time to time and to be dated and sold as here-
after provided by resolution or resolutions of the City Cot -
'Mission, and to mature as follows:
Years After
bate or Dates
Principal Years After
Amount Date or Dates
1'ririci
Amount
2 $ 530,000 12 .$ 525,000'
3 530,000 13 525,000
4 530,000 14 525,000
5 530,000 15 525,000
6 530,000 16 525,000
7 525,000 17 525,000
8 525,000 18 525,00'"
9 525,000 19 525,000
10 525,000 20 525,000
11 525,000 ` "1,.
WHEREAS, the City
April, 1972 duly passed and
:providing for the
inafter so:ret_r:.
Resolution N '72-15�0`iding for the issuance of
creational Facilities Bonds, to
e denomination of $5,000 each,
sued at one or from time to time and
d as hereafter provided by resolution or
ons of e City Commission, and to mature as follows:
11
Repealed by R-77-0937
Principal
Amount
$1,665,000
1,665,000
1,665,000
1,665,000
1,665,000
1.,665,000
1.,665,000
1.,665,000
1,665,000
1,665,000
1,665,000
1.,665',00.0.
h day of
owing resolu
of the City of Miami (here -
Year After
Date or Date::
14
15
]6
17.
18
1.9
PO
21
Principal
_Amount
$1,665,000
1,665,000
1,665,000
1-,665,000
1,665,000
1,665,000
5,000
1,66 5,000
1,665,000
1,6655,000
1,665, 0;)0
1,665,000
1 , 505, 0,10
77-GG0
MM
111111111111111111111
t•
and prices and under such terms and
�i€ r AS, each of said r6861utioh5 provides that
0 any part of the bonds there!! authorized may be made
:'edeernablc prior to their re speetiv maturities at sbch tiro^S
conditions as the' City
Commission shall determine by resolution prior to the sale
of the bonds, and that both the principal of and the rote
on the bonds shall be payable at: a bank or trust compa
the Borough of Manhattan, City and State of New Yor
a bank or trust company in the City of Chica!
a bank or trust company in the City of Miami
option of the holder or registered owner; a
WHEREAS, none of the $25,000,000 Housi
authorized under Resolution No. 76-
a.nd
has been
WHEREAS, the City has heretofore
issued $28,350,000
:Public Part: and Recreational Facilities Bonds, dated as of the
lst day of Oc`n or 1972, and $5,000,000 :ire righting, Fire
Prevention Rescue Facilities .'.a, dated Gs of the 1st
day of May, 19.7, thereby reduc' authorized but
unissued portions of said bo u t'.::,r i ations i;o $11, 540, 000
and $5,4,000, respective ; an .
the City Commission has determined:
$11,540,000 in principal amount of said
:d $11,540,000 Public Park and Hecr•ea
Bonds shall con :ist of 2,308 bonds of the
of $5,000 each and :;hall bo :issued and sold at
said bond:; to be dated, to be number:;d anti to matur
inari.ui• provided;
Repealed by R-77-0937
77-660
(b) that $l1000)000 in principal amount of the
balance of $5000,000 in principal amount of said
horizod $10,000,000 principal amount oC Fire Fighting;
Pire Prevention and he5cue Facilities Bonds shall consiSt of
200 bonds of the denomination of V5,000 each and shall be
issued and sold at this time, said bonds to be dated, to be
numbered and to mature as hereinafter provided; and
(c) that $1,000,000 in principal aount o
.•:aUthorized but unissued $25,000,000 Housing Bonds
'sist of 200 bonds of the denomination of $5,00
be issued and sold at this time, said bonds
be numbered and to mature as hereinafter prov
(d) that none of said bo; 3 shall be
'prior to their respective maturities;
(e) that the prin 1 of anc
:rbonds shall be payable at th
and
notice thereof
n est on said
Id bonds shall be held and
provided; now, therefor,
OF THE CITY OF ..
. The e shall be issued and sold at. this
Park and Recreational Facilities Bondsin
ncipal amount of Eleven Million Five Hundred
Dollars ($11,540,000), being all of said
rid unissued Public Park and Recreational Facilities
lereinabove described. Said bonds s.ball b dated
_st day ofDecember, 19/7, shall consist of 2,308 bonds
the denomination 01. *5,000 00.311, rivabc!red :L to 2,105,
and shall mature, without ept]on of pries. redeOption,
''411'humeriortl order, lowest numbers •fir5t on the 15t day •of•.;:,
. .
1 Repealed bY R-77-0937
7 7 - 6 6
i
M
•
-pf+ ifl t;: lf' f o:(:.1oW it
ct:i.ve1:
Year of Principal
Ixiatur:i.ty Amount
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
$500,000
480,000
480,000
480,000
480,000
480,000
480,000
480,000
480,000
480,000
480,000
480,000
ih the following ttnout
Year of Principal
i aLurity Amount
1991 $480,000
1992 480,000
1993 480,000
1994 480,000
1995 480,000
1996 480,000
1997 480,00
1998 480,0
1999 480,00
2000 480,00
2001 480,000
2002 480,000
Section 2. There shall be issued and
time said Fire Fighting, Fire Prevention and
ties Bonds in the aggregate princip amount of 0
Dollars ($1,000,000), being a portion the $5,000,$00
principal amount of such bonds a thorize• t sued as
hereinabove described. Said bonds be ued the 1st
this
day of December, 1977,
'nomination of ,
and shall r:.a t,u:
numerical
December
h0 .ption
ov - nurnbe
resp .ati
ar of Principal
aturi v Amount
79 '50,000
98o 50,000
1981 50,000
98? 50,000
8 50,000
1984 50,000
1985 50,000
986 50,000
:1.98'( 50,000
198.. 55,000
or.d of the de -
to 200, inclusive,
for redemption, in
on lst day of
in the following amounts,
Year of Principal
.iaturity Amount
1989 $55,000
1990 55,000
1991 55,000
1992 55,000
1993 55,000
1994 55,000
1995 55,000
1996 55,000
1997 55,000
Repealed by R-77-0937
77-660
Ill1 11
Section 3 There shall. be issues] and soli:] at thin
ie ss,id Housing BOWLS 1n the, aCgrer ;te nriucipal amoint. oC
One Million Dollars ($1,000,000), be inF; a, portion of the
'$25,000,000 principal amount of said toads authori ed but
Unissued a5 hereinsbove described. Said bonds shall be dated
the lot day or December, 1977, `hall consist of 200 bonds
of the denomination or $5,000 each, numbered 1 to 200,
elusive, and shall nature, without option of prior
in numerical order, lowest numbers first; on the
December in the following years and in the foil
respectively:
Year of Principal Year of
Maturity Amount _ Maturity
1979 $15,000 '1994 $$30
1980 15,000 1995 3 ,0l10
1981 15,000 1996, 000
1982 15,000 1997 a,000
1983 15,000 1998 35,000
�984 20,000 999 50,000
1965 20,00 0 50,000
1986 20,00 _O01 50,000
1987 20,000 2002 50,000
1988 20,000 IE
50,000
0 000� 60,000
1990 30'OOQ 60,000
1990 , r: 65,000
1991 30,00 2007 70,000
1992 30,00
190,00
i st 0:] said Public Park and
ties Bonds, . is e : _f r :Lng, Fire Preven-
Faei lit;ies Bonds and Ho'Ising. Bends shn.11 be
semi -an ly on the 1st day of June and of December
acit year, and both the principal of and th<_• interest on
'said.:'r 1s shall be payable it. tho':ien1. lank :in the Y• u cunt
lir
Tani Ft.:i;m, City and State of fl:a York, or 1': Continental
inois National Bank and Trust Company of Chicago,
-lliinol:., of at Florida National
in tb:, 0 i .,y of
Bank and Trust Company , in the City oi" :._.,..., i., i' t.o ida , at
the option eV Lho holder oi: 1,
Repealed by R-77-0937
tez'ect owner.
77— 660
11111111
Section 5, The Dire
or
Finance is hereby
}hoi'ized and directed to pubii0h a notllintr, for biti
br said bonds: :in The Miami Herald and The hiialai. News:, daily
heWspaper':: of General circulation published in the City of
ami, and in The Daily Bond Buyer, a financial j ourna l
• published in New York City and devoted I
riarily to municipa
bonds, each of such publications to be made at least: ten
days before the date for the receipt of bids, which
shall be substantially in the followin1 form:
NOTICE OF SALE
$13,540,000 BONDS
THE CITY OF f1I[11' I, FLORIDA
540,000 Public Park and
Facilities Bonds
,000,000 Fire F:if;ht.irLE„ Fir
and Rescue Facilit
$ 1,000,000 louoi nC; Fonds
IlL
Sealed bads will be recc:_ .
he,City of ,.__I:.i, Florida, at i`;.
t 3500 Pan I:;- r'ican Drive, Digs;
tit 11 o'clock
which time and'pla
read, for the follo;:_inc,
a.11 dated December 1, 191
Co:inission of;
la., plaoe of meetiric
, .._ . , Florida; urn
.._11 be
Cit
'..` c1.;; opened and
:•:iami , Florida,
$11,540,000 PUBLIC PARK AND REORLATIONAI.,
FACILITIES I.r BONDS,
annually, December 1,without
ion of ~ _ : or redemption,
as follows:
1979
1980
1981
1.982
1983
1984
1935
1986
1981
1930
1989
1990
P iticipal
Amount
$500,000
480,000
48o,000
48o,cno
48o,ouo
4£i0,('U0
45,30,000
480,000
480,000
480,(i0U
li00, ii(1O
480,0lii'
Year of
Maturity
Prineipa
Amount
1991 S;480,000
1992 4P,0,000
1993 48o,000
1994 480,000
1995 4Bo,000
1996 480,000
1997 480,000
199: 480,000
1990 480,000
2000 480,000
2001 480,000
420,000
Repealed by R-77-0937
77-660
1111111111111111111111
t�3000 V7RE 11CiITTNd, FINE PHEVFi1TI0U
u RESC0i- I!1CILITTi s 13ONW, i;aturing
hnnually, becetn$er 1, e: iti-,Jut.. option
bC prior redmpt iu,,, as
follows:
Yca> or
aturity
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
Principal
Amount
$50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
50,000
55,000
Year o.f' Principal
Maturity Amount_.
19.89 '$55,000
1990 55,000
1991 55,00
1992 55,0
1993 55,
1994 00
1995 ,000
1996 5,000
1997 55, 0 0
$1, 000, 000 HOUSING BONDS,
aturing annually, Decembe 1, without
option or prior r-eno` on,
a.s follows:
Year bf Principal Year o 'r:incipal
Naturity Amount iRa;; uri Amount
$^ 000
995
1979 $15,000 l�or w3G'000
1980 15,000 135,
1981 15,000 1996 35,000
.982 15,000 1997
1983 � 15,000 935,000
,95 35,000
1984 20,000 1999 50,000
20 000 2000 50,000
1985 2001 50,000
19B6 20,000
,1987 20,0 2002 50,000
>1986 20,00 2003 50,000
1989 30,000 2004 60,000
0 000 2005 60,000
1990 3' , 2006 65,000
1991 30,000 2007'70,000
1992 30,000
1993 30,000
1)oror.; r._.tian $5,000; coupon bonds rogi.strable as -to
'. a lone or as to both pr niipal and .interest; princl.-
pa . i mi-annual interest (June 1 and December 1) payable
at cal Lank, :Ln the lia •ouiTh or '''tc. !a' t..:., City and State
of Ne.. York, or al. Continental Illinois National Bank and Trust Company of Chicago, in the r 11,;;
oo Cil ; cnt;“, i7:I iro' or :tt• Florida National Bank
and Trust Company An thy: c' . + ;; or i _' .:::': , F for 1ri:., at the
option of thc'' holder or r°c:t;I.;tot.od urrn. • f as:: °a.1 ob11.e;.itior,s,
unlimited tat: upon a"11 1%.nxnhl(• proper the City (e=-
clud Ln1; hu:r:c:at(r:d:•) •
`r'ho Piro F1Pn1 ilt ;, o t' ov nt r{tr! aril Wlsouo
11 c; , Bonds i:•,:re validato 1 by t"uri'rtuen oi' tit; t;aicrrrit,
Repealed b R-77-0937
•
•
t�our� of Dade County, Floridaort t4ai'ch 75 1977; the llous=
i1f; oncls were Validated by a ,judgment of said Circuit Cour
or1 Fehrua.ry :l 7 , 1977 and said Public .'urk and Recrcr:tional
Facilit._i.e:: Bond:; were validated by a ,judgment of said Ci.r=
cuit Court on May 23, 1972 which was affirmed by the Supreme
Court of tho Stato of Florida on October 31, 1972.
Bidders are requested to nape the interest rate
or rates, not exceeding 7-1/2% per annum, .in maltiples of
1/8 or 1/20 of 15. Each bidder must specify in his bid the
amount and the maturities of the bonds of each ate, and all
bonds mutnr1r:g on the same date must boar interest at thc-�
same rate. No rate may be more than two times the lowest
rate named in the bid. Ilo bond shall bear more than one
rate of interest which rate ;hall be uniform for the life
of the boncl, and the interest on any bond ~ a lble on any.
interest payment date shall be represented b;; a s1n le
_ pon. 110 bid of less than pal' and accrued interest or fa_
less than all of the bonds offered will be entertained.
bonds will be awarded to tho bidder offering to purchase
the bonds at the lowest interest cost to tho City, such cost
to be determined by deducting the total amount of any pr�...r
aggregate amount of interestu.:-)on all
mium bird from � the �
the bond: fro: December 1, 1977, until their ros•?
maturities.
Each bid must be submitted Ona form t be fur-
. nished by the undersigned and must be encvoor a sealed
�
envelope markedmarked"Bid for $13 5)10,'0 ; ` Bon- must be
,'`
accompanied
by certified or ban_: ca:.],
iv_ treasurer's
check for $270,':AC upon an incorporated bar. or trust company,
- payable alcc...._. onall.y to the _._.i' y
of
1
Florida,loron .... ` 1 . no interest ___ i
Award or t
rejection a1 .s will t1."' _..
:s ,ate d for r
the .. i, and the th:iiaer:will be r ur .a t _rii toa t successful
11 held uncashcd s, :r' oc performance
bidder 1:i ':'-• i)'- '` `l. ' .._ steal].
of his bid bur, in the eve:Lt .h bides
comply with the to the _ may then
c fail to iand for full
be cashed and _..� proceeds•
.: r� - . _ <ra.. e.i a_ f"
er::s have n complied
• 13oui,lated dar:. :•.. Whenever .} . _ _. . � been
may Gay�ri h16Q ` o1' the bonds,
with the Ci:c.c:: ...` _�.� �� 4' ..~
or f' it shall be =ouni .. iapo:_..__ to 1s:.e and deliver
bonds, the will be _ _. i_ ned.
approving opinion of Brown, ':rood, Ivey, Mitchell
City, will be furnished without cost to the
the bonds. There will also be furnished the
The
Fet , New
rC astir•;
cies
Dt _i•rg oi.' the bonds will b : hr:ad.� on or about
7 'i n rii New York City, against payment therefor
,rtificml or 1�'.nh .rite i.er' • or ... _ ...;nr '''' „ C1)a li drawn
York City brut or tru:., c0;;prat, .
Copies of the !!ot:'!.ec of .'sale, bid fo,.'m and the QJf.t-
Stat''ment imiy be obtr.r:ined lay rt2)p1.1eai;i.on to the under
0-at Miami City Hull, 3500 Pan American Drive, D.inn
•
Repealed by R-77-0937
77-6i60
MEM
MEM
MEM
MEM
Xey 1 Miami, Florida 33133 and from Brown, Wood, Ivey, Mitchell
& I'ett•y, One Liberty I'lasa., New Yo:ck, IL Y. 10006.
9'he right to reject any or all bide ire reser.'
Sal
''James 1?. Cunderuon
Director of Finance
City of Miami, Florida
ction 6 the form referred to in the Notice
1 In Section 5 above and
on which all bids
sted to be made shall be substantially as follow
BID FOR BONDS
mmission of the City.
of Miami
`City Hall
3500 Pan American Drive
Dinner Key
Miami, Florida 33133
Sirs:
We make
he followi
Floci
tdotice or Sale of
:fart of this bid,
not for 1e.
ue Faci
cntior.
5110,Goo Pu
c bonds of the
deocribed in the
I:otl..O is hereby made a
or an of said bonds and
000,000 Fire Fighting, Fire Prevention and
s Bonus and
earin , terest
c I'ark
$1,00j,000 Housing Bonds
as follows:
Yec. teere tional. Housing
0lat-n Faci13 tic:; Bonds Pont;
•1979 $ 500,000 $ 15,030
1980 480,0J0 15,000
198) ';8u,000 15,000
1982 480,000 )5,(100
1983 080,000 1.5,000
1980 11S0,000 20,1100
1985 480, 000 20,000 •
1986 0.'(1,(0')) ,'0,(1)0
. Fire i'r va:,:'.I.-n,
and Rosc_t In'
}' c 1 ' ie.s Ponds Rat,
50,00:0 7
50,000
50,001
50,000
50,000
50,000
j0,} ,0
50,000
50,000
Repealed by R:77:0937,
77-660
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ME
MM
Public Park Fire i+.i„ht.ttir
and ri.re Prevention,
Recreational Nou i.and k sae ltlt6f c'W
Wi Facilities Bonds Bonds 1' • ,i.].l *:i, iondFt 14_00
1988 $ 480,000 $ 20,000
1.989 480,000 30,000
1990 480,000 30,000
1991 480,000 30,000
1992 480,00o 30,000
1993 480,000 30,000
1994 480,000 30,000
1995 480,000 35,000
1996 480,000 35,000
1997 480,000 35,000
1998 480,000 35,000
1999 480,000 50,000
2000 480,000 50,000
2001 480,000 50,000
2002 480,000 50,00o
2003 50,000
2004 60,000
2005 60,000
2005 65,000
2007 70,00o
we will paythe following amounts:
55,000
55,000
55,000
55,000
55,000
55,000
55,000
55,000
55,000
55,000
.(1) $11,540,000 for -said Pubi`t' Park
Facilities Bonds,
(2) $ 1,000,000 for said 'ire Fi t;htint;, Fire Preven+-
tion _1d Rescue Facilities Bonds, and
(3) 3 1,000 for o.. 11,..:,_'i:,
in ace
d Recreational
:_11 o: said bond., We
frog, December 1,
u ., c' __fied orbani: Cash f'r's
for $270, 800 pa;: able 4o the order. of
Florida, which check is to be applied or
ice with the 'notice of Salo.
The ClosiIhg papers referred to 111 the Notice of
are to include certificntea, dated n; of the Gate of the-:
i*Gr of the bonds, with reference tG thu Qificlul Sta 6
rn ., as r•ov i d:d. therein, and o1;:1ting t bot i;h 1 is no 11ti4
gatlon hendlnr; or, to the knowledge of the signer. si.);11
:Ificatu, threatened affecting the validity •of tJlo 1)oudr,
epealed by_R-77-
■
77-660
Bidder
c� ition or alteration, except as pr• :e
above, is to be made to this bid an t
must not be detached from the
attached Notice of Sale.)
**3 *****
USED AND ADOPTED this 28 day of
MAURICE A. FERRE
MAURICE A. FERRE
MAYOR
ATTEST:
fJ? G
CITY CLERK
ASSISTANT CITY ATTORNEY
APUOVSIPAS TO FORM AND CORRECTNESS:
Repealed by, R-77-0937
eeN
68 4
Joseph It, Grassie
City Manager
.}
ik s,
f
aines t. Gunderson
Director of Finance
July 26, 1977
$13, 540, 000 Bond Issue
Attached is a maturity schedule within the resolution for the proposed
issuance of $13, 540, 000 General Obligation Bonds to include $11, 540, 000
Public Park and Recreational Facilities Bonds, $1, 000, 000 Housing
Bonds, and $1, 000, 000 Fire Fighting, Fire Prevention, and Rescue
Facilities Bonds.
It is intended to date the Bonds December 1, 1977, and sell them in
denominations of $5, 000. It is requested that this resolution be placed
upon the July 28, 1977 Commission Agenda in order to accomplish the
sale and delivery of the bonds by November 10, 1977, in New York City.
Bids will be opened November 10, 1977.
JEG/mh
•
•
i
Joseph R. Grassie
City Manager
es E. Gunderscon
Director of Finance
duty 22 1077
$13s540,000 Bond issue
Attached is a maturity schedule within the resolution for the
proposed issuance of $13,540,000 General Obligation Bonds to
include $11,540,000 Public Park and Recreational Facilities
Bonds, $1,000,000 Housing Bonds, and $1,000,000 Fire Fighting,
Fire Prevention, and Rescue Facilities Bonds,
It is intended to date the Bonds October 1, 1977 and sell them
in denominations of $5,000. It is requested that this resolu-
tion be placed upon the July 28, 1977 Commission Agenda in
order to accomplish the sale and delivery of the bonds by
October 19, 1977 in New York City.
As of the date of this memo, our bond counsel in New York had
not furnished us with the required resolution authorizing sale
of these bonds and showing maturity schedules. This resolution
should be in our hands on Tuesday, July 26.
r..
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