HomeMy WebLinkAboutR-77-0938RESOLUTION NO. 77- a a 8
A RESOLUTION APPROVING THE OFFICIAL STATE-
MENT FOR THE $14,040,000 BONDS OF THE CITY
OF MIAMI, DATED DECEMBER 1, 1977.
WHEREAS; the City of Miami Finance Department
has prepared and submitted to the Commission of the City
of Miami the Official Statement, dated January 11, 1978,
pertaining to the bonds of the City in the principal
amount of $14,040,000, dated December 1, 1977, consisting
of $11,540,000 Public Park and Recreational Facilities
Bonds, $1,500,000 Housing Bonds and $1,000,000 Fire Fighting,
Fire Prevention and Rescue Facilities Bonds, which Official
Statement provides information,in connection with the invi-
tation for bids for the purchase of such bonds,respecting
the bonds and t:;;_ City and its environs; and
WHEREAS, said Commission has examined and considered
1.1.1
>6 BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI , FLORIDA:
Section 1. Such Official Statement is hereby
0 approved in the form presented to and considered by the
Q Commission, and is ordered to be file s
D6C1SILN INDEX
the official records of the City.
said Official Statement; now, therefore,
ITEM NO.
Section 2. The Mayor of the City is hereby
authorized and directed to sign said Official Statement
for and on behalf of the City in such form, with such
minor changes, insertions and omissions as he may approve,
and thereupon cause such Official Statement to be delivered
by the Director of Finance for use by the prospective
purchasers of said bonds in connection with the public
sale of said bonds, and the signature of t'ie Mayor
on such Official Statement shall be conclusive evidence
CITY COMMISSION
MEETING OF
DEC i 5 1977
1112111.011014
11116411111* MMM Mom►. ...M.. N.
2,
cif his approval, as herein authorized, of any such changesj
insertions and omissions in said Official Statement.
PASSED AND ADOPTS` this 15th day of December,
1977.
MAURICE A. FERRE
MAURICE A. FERRE
MAY O R
ATTEST:
......,,,e ,(...e (
RALH G. ONGIE
CITY CLERK
PREPARED AND APPROVED BY:
ed 4//C
ASSISTANT CITY ATT^RNEY
APPR Vtf715.5 TO FORT AND CORRECTNESS:
G ORGE j KNOX, JF.
CITY A '' RNEY
"SUPPORTIVE
D n t._; i ..VN T S
17 7 :. ,
{) ."r �Y
yi
Joseph R. Grassie
City Manager
ames . Gun rson
irector of Finance
December 1, 1977
Resolution Approving the
Official Statement for the
$14,040,000 General Obligation
Bond Sale, January 11, 1978
Attached is a resolution approving the Official Statement regarding the
$14,040,000 General Obligation Bond sale, scheduled for January 11, 1978,
consisting of:
$11,540,000 Public Park and Recreational Facilities Bonds
$ 1,500,000 Housing Bonds
$ 1,000,000 Firefighting, Fire Prevention and Rescue Facilities Bonds.
Please place• the resolution on the agenda of the December 15, 1977 City
Commission meeting.
JEG:JP:jr
Attachment (1)
cc: George F. Knox, City Attorney (Attn: Robert F. Clark)
"SUPPORTIVE
DOCUMENTS
FOLLOW„
..� .-938
arnen.A.,....psyleNna4.ftersarrOvierwestaftldos
OFFICIAL STA TENIEN
Reiatim.rtc,..he tst.;.111t2t:
THE CITY OF MIAMI. FLORIDA
S14,040.0011
• GENERAL OBLIGATION FIONI)S
For Public improvements
Pavanie from unimittec.: tid vaioren- taxes tm till taxable prooertx xxithin the
ol Miami. excluding homesteads to the extent ol exemniton.
Scaled bids V. di h receixed h the Commission of The Ctof Miami. Florida. at
t'eguiar place of. meeting in the C it Hall, 3500 Pan .Atmeri:an Drixe. Dinner
ko. A.M.. N11;171-li Time. or. V% ednesciax
.iantitirk
Tilts official statement is made ay.tilabie n: the Con r.,1 connection
itr, its imitation For BiQ for the putt.ntSe the Bonds.
CO of Miami Finance Iltportmcnt
City Hal. :'5(!c; 1)ri‘c
Flo:Adt!
.1;:ru:ary 11. 147S DOCUPIENTS
FOLLOW"
,;` - 9 3 8
m1101111111111' 11111 1...^771119',111
1n tht' opinion of Bond Counsel. interest on the Bonds is etenipt
under existing statutes trans 1 e4i:r,li inuithe taxes.
S I-i.11a(i.I►I►II
1'ht' ('it1 of \1iatni. llnrida
General ()hlit,•atinn Bonds
Dated: i)et:enlher 1. 1977
Due- In Annual Installments
December 1. in the \ears
Io-n it, Anil'
Denomination S5.000: Coupon Bonds. registrable as to principal alone and also as to both principal and in-
terest: except as to Bonds fulls registered. principal and semi-annual interest t.lune l ;ind December 1. first
tnterest .tune 1. 197S1. nav-abie at Cher^ica Ranh. \e\\ York. Nev, 1 (irk. at ('+,ntlnen;al lihnots National
Bank and 'Trust (oninan\ t': 1_ hiCa L'''. (n:cag '. Illinois. or at 1 he f'I„rlt1:: National fianit and 1 rltsl (
pan\ at s1 IrIil. NI Ian f h'rlda-. at the ()i\tli,Tl 1)t tile t' 'Rlcr
The Bonds \\ili he dire„ ohtlt•atlons of the (It\ for \\loch it, lull faith and credit is *deed. and :ire
pa\ahle from unlimited ad valorem taxes levied on all ta\ahie f,ronert\ in the (it\ 'excluding certain
hornesteadst. The fiends shalt mature. vvittnnit ,,ration of prior redemption. on Dek:em ter 1 in each of the
Years, and it the Prin,:lna; ainllllnis, restiectt\et\. as follows
11110444111
k:,l, 117 1 cdr rat kale „r 1 ear of kale ;of
1 Arid \I:,titrn, 1n,uurl! livid \larllrn\ \111„ loll 1 it,Id
______
1,.).,... c 11141 )u" yC:c:,I1hl,
I'P1i. :',f111i _'(i(I(' (INiI
i 011 tile., _'(ifl, - `.,III''
i.u:: ; (q,1, :.('i :'.11(I(,
t,1,;_ .y; ,l111. .l)l: u•.(lihi
,h,- .yl, lfI. '21111- U`,(IUtl
u•41. •,1(1o(I,1 'lutt. 11N1.1111(,
-ui' i,,ltL :nr1- I ift,(1011
1 i1C 1,47ei 14,"111., .,.r ,sl ttlt series
SI 1 �i(1.(Iflil I'ilt�ll. i'art. ,Ill(; Bond
I,�(i(1,1►t111 I{„tl'Ii1 Bo,ri(ts
! l'1 Plc", c,'.:i: `•. t'Ifitl::. 134'r1tfs
1 Iit h"rltt' are' +',.;rai i+'r ...,1\� 1\!I::t .. ,STiti :! ,��IiCt'.. ,:!Il: ‘411hl,it It` the l'Plnil,Tl of Rt 'sn.
1111u. 1\t•v '1'(li�tlt'I! v� i'c'tt', 1.:+ �I,rt.. N.e'v( nrr. 14.1n(; ( l'llrhei. AAlit'.e ;lppr,+\iltt' lll'if111'fl Nlll ne
minted kW. t'. B ora:- I' espe.lCU lnai il'e ftt'llds Niii ile uellAe4eu orl „r
ics t iF .�i
t : s�
t
ti
THE CITY OF 11IAW'II
,1E\11-ti I( ()E Et() -%RI) ()F (I T1 (()\1\1ISSI()\F:KS
\1AURICI A I I.RRI. 11a'or
TH - OI)(.)RE. R GIHSO\ J. L. PLUM MFR. JR.
ROSE (iORUO1
NIA NOLO RE-I3OS()
CITY OFFICIALS
( hlanat.e: .I. R. (IRASSIE.
C I% Attorno (i. F. KNOX, JR
F)nancc I))rector I E Cil'1ERSO\
( R. Ci C)\(ill
BOND COI NSEL
�10Ul►. I\•l `.. \1l 1cirri -L & 1'E= FT1
CERTIFIED I'! Fil.I( aCCOUN A\Ts
. •'•.'r•:\ili I.. \ilI( HELL & CO.
•4. C1:. i107 ...'i � .'�t: . „.), U' tir.ii aril Ii)d
't)??, .). i (i C.,,?Cry I) .c..-i,. i i-l: d'r;_. I, O. Hr,. ':?'O • 11i..7.11.
i 1011C... ) :+r.. ')\ )(:. ll
1 {�
I e'. I)il neil
pen\ I iu).r,;. I' an: '.e,, 1 or 1 . it,.,,_,r . A: rr').)r: ! C,:...t,i ic. leic*)hone
2:
"SUPPORTIVE
DOCUMENTS
FOLLOW"
This Official Statement does not constitute an offer to sell Bonds in an\ jurisdiction to an> person to
Nhurn it is unia«ful to make such triter in such jurisdiction. '\t deaier. salesman. or an ether person has
been tutthrr'./eti to 121\e an Init,rrttati 'n trr make an> repre..ental!!>h. other than tho,,c contained herein, in
conne,tlon •sift the offering of these Bonds. and it Pi'en or nude. sifth info nlation or representation must
nut he relied upon I he information and e\nresslons of (Timor! herein ail' ,(!Intel' to change »ithutlt notice
and neither the deir.er, of this (..)ficial Staternent nor an> saie made hereunder shall. under .in> circum-
stances, create ate Irnrrh.:allun that there 'sill he nu chaneee in the aliairs of the ( Its from the date hereof to
the date of the delivery o! the }fonds
TAMA; OF ('Oti-hF:N1'S
Introduction
Securit\. Authuri,atiun and Validation .............
Applicrttion of Proceeds of bonds
General Information ............................ .
1mpio>ec. f?ei:itlt�n,�
Clt\ I'ens.!or, 1 Lind. ..........................
Budgeting. Accounting and Auditing ..............
Rctenues and I.\nendltures .......................
Ratio of Net Gent ...........................
Statement of Legal Ihht \lartnn .......
la\ Data ..... .. ...... ................._.
Uut..t,lrtd+t;e 13,,nd>
I et>u,rn;1, f ,t.tl,rr ..
( ttntingent 1 Iahii111es ..............
1 a \ I.\emption .........................
1 irtancia; Statements . ....... ...... .
('l,,.it, t• (eitii'{l.ite? ..........
Appttnai ,,f 1.cc>.I, Proceedings .................`..
11is:eflaneous .
•\ppent.ii>. 1
Icttel of .er;tiled Public Accountants.......'
Append'\ H
9
11
12-17
14-24
33
33
;z
?t,
93
144
O11'1(I\I SI 1i1 \1i \I
I2(latin,_ tt
THE CITY OF FLORIDA
S 1 4.11411.111111
( nmi�lin�' tit
S11.5.111.i0I111 Public 1'arh and Recreational Facilities bonds
1.51111.0IIIi 11 utiint_+
1.0110.01111 hire 1itihtimi. hire Proemial :end Rescue Facilities Bends
I\'1I2O1)1 (1IO\
the (fit\ of \Barn.',. Honda line (Il\ 1 \kill otter tot ,,:tit' On \\e(1ncsi1a\. .I;tflllar> 11. Its ttellerlll
obligation h(,tl(is in the tot,ii llflil:In;t amount of C14.(140,0I11!. being Inc halatlie of one issue:In(1 harts Ot too
other issues tit general obligation bonds tit the C tt\ authttrvcd h\ the (umnllssitn u( the (n\, approved h\
the electors and remaining unissued. as hcreinhei(mk mentioned.
The material in this Ot i icia; Statement is presented in ;id ance of the sate (,1 the S 14.(i1(l.11(I(t bonds (the
• Bond "t in order tnat ',nose interested in the purchase of the Ii(u1(1s ma hake :1\:Illahic inil,rn1.111(tn \\nil
Uh1ci1 to make Ifl\esiiiicnl Itl(14.'ITients re`peCilnc inn he+iii
1 tll' i 1 rn' cot,illt ()I:1;lai Si;liciilent. \\iltth Iflillltll'` the c+.+\er j\;,L'e and :Ij\felICiItcs IICrcrl,. I\ tO Set
tort',; IniorF11;i1Vt r, the ( iiA and the iiond, „meret: ;Or kale.
SF('1 I2111. \I1110121/.\IU)\ and \:\1.111.1'1'IO\
I hl' 1�+'flti` \kii, 11C' cci er;tl t+t711 ';flt:ln Oi :he & lf\ 101 Uhliii II 11111 1111111 :1I111 cil'(i l 1•• pledged. and are
Ita\able iron! unlimited all \ait'rcni I:f\e? on :111 \hie ('rt'Pert\ in the ( Ilk to\,ltldint.' homestead e\ellli'-
tit\rl\ for Ltria:n ern \\'no arc :nL'eti. oti1c \ c tlll;thiie? tin:retort
i ht. Bond r .11: (IC . C't? 011,1 nli',,;iu,,, 1,, 111'.' I.i\k. 01 inc1I.IiCto I 1,111(1.i. the ( ilarle1 l`l tnl' (it\
;rid ordin,:'RC :i'1+.. untdcr the
i'ro\isil'11`, Inc ( ;\ ( L..rl:. .Ilttl .C:.,II. ,'iii..,..'I:e a(t, ,led 11r '\1:1\ ?. . 1'! (1 :Ind other or-
(i111.1n1C. (. 1)', lilt ( �. id ltiret• tic ,'1 Iil�ll (l� Ini\C' ''....en .li-i\r(,\cd t�\
the ele:ll,r- ;li illret' t,on(1 electi n` held \lard-. 14. Ill \larcl; 1J. Ill (' trld September 2 . ltl (\.
i lie }'uhil: Par', and Recreattorinl }':1'.'ll ile» 13,1?itl` \k ete \aittlaic(1 h\ ltl(ienient t't the ( .fi (Ill ( t'l1rl O1
I)atic (0i1i11'. t�(', �1:1y Ill _ alld al:Irn)e(1 tt the SLpterne ( our?. tilt' State o: I iotida ''n O,...illher
1tI_1
bite !lousing finds \kere \nlni;tted h\ tudl_+nient tit life C ircult ( turf of Dade ( (,tint\ On f ebruar\ 17.
and no appeal was taken.
The l ire Fighting. Fire I'rcentlor, and 12e>che 1 aolitic` west \alidaled h\ judgment (tt the Cir-
cuit ( our', it Dade ( ot1f11\ ilr \laren lt) . :ind no appeal was taken
4 � ` l'...
F O).._J .0V'I„
APP1_1( VI ION OF PRO( I E. 1)4- Of it()\11C
1.5411.rolift Ibhc l'ark and Rt•urt...iti,,mil Facilirick
'ss, -7 e.7
( 1,‘ of v.-7 S..• '77" 711,, ',11;:ti
fi r rC. e o7. S' ,,.. :-..r.orq
the. Lis r t7q cle,ciorri,ent. cf.7";!71. :,174(44, rc.. (i1. eq.!
facililies art nt-riird
S 1 •51 .Uflf 1fiunds
..“1,TIt'd t,\ the Cr:17.;71!',\1;,fl
11ircBond,. (if the (itr tht: rri•\ trie
arid persons. Including the ciderl, of loy, or rmicicrate income, nor SVAii71; ;IL`ret.. bet70,ven the ( and
Dade Count, b inc I)arit: fintin-s;nr 'uch hoti‘,inc (r. h+ in...rt.;!!...thi: :ht.
of osTH.mtion; t na: sna! 11/4s:ive, irdrie ( a..mmrc. tind re•ca7,i•ilale suct
hol.isiric or. a ;•!i: ni• 11\ ,r ;!tt• C I heiru•
r„n1i 107 'sir it"
CI ed U 1 I (:47('• hvctn Inc \ ;ir'd ojr"1\ 7,-07,‘,t•ed-,i 1(1,, of the
CO' \Ail{ be deposited iri trust in a reserve fund to pro‘uiL7 additional securit% for self-hum:1min.: housing
revenue bonds to he issued h‘ Dade ( tunv‘
Virt Prt•%crtlwil kt•sltt. 1-3Utilitt.tt,
(.t7C:ir,ant.t. ' Iftt: —7, it,' \ t•
aric \knit... ,tniount
iiecn issued ()f Inc balance autnorireo and unissued. Ponds the prim:ma: arnouni of
Si.Otiti.;i0t.,, are to pe issued or the 'purpose ol incna‘Crit: cos; of- Fire Fire i'rc‘ent in and Rescue
constructior, Ili, reconkirti:tior, and in,r,ro\ int 0: firt: staiion.
;MC,
(,1-:MI? 11. 1\h)R11 1 I It)\
• 1111. (Ill l\I) I l s 1 \\ 11(0\.,
the ("it
-(he (ii\ or \tianhi in the ( +,ant\ t,l I)ade. being the largest eit\ In the State (it 1-llrrida. \\;1s first settled
in 1836 and \\a. Illiot'pt'raletl in 1 tit)!5 It is It'C;Itctt +,o tic ltt\\er cast coast t,l 1 iori(ia along the \\e iern shore
or lii.ea\ne Ka\ and i. the •oulheinnlu.t I;Irr,e eil\ in the ('nited Slates it comprises 3.1.3 square miles of
land ;incl 1O.' square miles ,+1 \\titer
1 he Climate
1 he temperature oI \Bali is essential!\ subtropical marine. Ie';Ilul—ed h\ long. \1ur111 stltlltllers. \\I(h
ahluulant rainfall. I 'llm\et1 h\ mild. LIr\ \\utter• 1 hi' d'e?.t'c Irnl;ker;',Hre in the summer i• s1.-1 :Ind (0.1
in the \\inter. \\ith .I \eail\ ,t.e ice ,)1
(,trterntnent of \liarni
11it ( It\ 01 \ll,l!Irl has t,peiated !!nt?.1 the (t,t1imis.1ot1-( It\ Manager :twin in government since I921.
the ( 1t\ ( tlr11t11I.'ioI1 i 'Il•1a• t'I to.e elected cltl/en., \\h', are Clu;t!;Ired \„ ter. in the ( It\• title of \\rot
serves a. \1:!\or. the (' IIIIl11.Voll ,lets ,I. ilit C'+ler'nlrlg I,o(1\ tll, the t Il\ \kith po\\er. to (,a•s ordinances.
adopt reL'\datit,ll.. ;;till appoint ;I chief ;It1i111111.tratlnrl olticer, kit+'\\11 a. the ( 11\ \1:Irl;tt_'er.
( It\ elections ail' held !!1 \11\el111'cr t'\C!\ (\\t, \C';II. ttu ,t null-1 ;11'iUlI1 hl•I. \t cach''I these e'Ie' lltt(1.,
a In;t\nl' I. eleeletl I,'I .I l\kI, \C,I'" ICIn1 ( Itltlla(r. It,r \1st\t,r Illll•l r!i'1 ;I.,�IcI;.Mid Ili,( tt'r the Commission
In general. \t e,t.11 cle:ion rail' inerlihcrs of the (. t'nlll?I..lon are elc\led ;,.r Nitlr \Cat terms. 1 hos. the ( It\
( 01111111.•I011ef. territ, ,t('C't.c'erCt1 .t, th,ll the c are a1\k:I\. t\t,i \'\perR'llct'tt members on the (oll,llll'.lon.
The (it\ (+'Innlis.it'n ,tt'pt'rnt. the (:t\ (lerk. (it\ \(lt,rnc\ and the nlci,ll':'r• of the ()l't-Street Parking
lit,ard. and the i'lanri'hc .trill
1 he ( It\ \l.ln;t 'er .iets as the atllnlni.trati\e head of the municipal 't„ t rninent ;Ind is responsible for
the proper administration ,,I all al lairs „1 the ('it\. 1 he ( barter t,1 the ( l\ of Miami places considerable
re•pt,n•Ihlllt\ upon the ( I(\ \i„t!a.'t'r ile 1, ;Illlhttrt/cd to appoint and .i ;Ill departmental directors.
prepare the ,I III1lI.tI hlld,'C( iil\e,t12.11,. he Altair. III the ( or tit .Irl' ( irk 1)epartnlent. retlrgani/e the
adnlini.trlti\e structure and re,t,ininend io the ( It\ Commission an\ pnIrc e' \\hieh \\ill henerit the health.
•stet, sir \\etlare ,( . •:rn1,.;l;t,.
Hack. round ni ( crtaill ( it \ I )ffieials
l:ltirice \. 1 err1. elected \1;l\t'! Irk \wt.:niher' ttr-1 111tt leetected in \,,,,ember lt)7S :Ind
\ovenlhcr 19for 1'\,,-\ear tem. rl'•pe "t" `'I\. \la\or I erre is-1i \,:I;. old. 1..1' fadllateoi l a\\rence\Ille
School In Nei .terse\ anti hold, ;1 11.!elielttr tit Science degree in \felltte rltr-,III i„glrleerinr' from the 1 Ill\er-
sit\ of \liarni. i le i. 1'rr.utcnt anti ;1 I) Ir'_t 'r , I \laute Industries, Inc. anti oI;ter atfili.ted corporations tenth
in the I. sited States ;Intl ( arlhhean are;,
ihendt,re 1(. (ilhwn Na..ippluntet1 \11:rin1 ( I'illrnl..l+,rler \prII i')- elc,-tell in \o\ethlher itl73 and
reeleele d In \,'\C'l11hCr I977Iwtir-\ear term. re'peLt15ei\• I .Itl.'r (r,1,., 11 I• I,,_ \ear. old :Ind ll;I.
graduated St. Alit'tl•(ine s( R,IiC)'ll. A„Iln ( ,ir011n;t;I!1t1 I!,� Iit,I �n 1,1A11C 1)l:Ilhll\ Set 1.
Ito\\ a hart nrthe Virginia I hcolol2iit Seminal\. i he Ile\ (,I11011 (ili,aili ll.r hell the Rector „1 the ( hri.l
i•pi.copal Church. \liarni. for that\ \car..
Rom: ( Il Ii! se!\cd \i arm ( ';lirlli..l„Ilei since \menthe; tt) I \li• (ii't'tt,,n 11:1. educated in
\c\\ ,(crse. and 1 luritl,t School.. and is it registered real estate hrokcr, appraise'. and consultant. She has
been the o\\rler of Ilii.e ( iordon Realt\, Ines, \ti:nlli, Ior over t\\ent\ \ears. \1! („trdon is Treasurer of the
South Florida Planning (,'uneli :In(i IN on the Steering ( mmmittee orthe National 1 eaeue of ( I mpl,)\-
nlent and Income SeLnrit\.
3
"SUPPORTIVE
rl Illintli, in I ,I',\ ,!nt! \:_.,'t;n ',+1 ' II
.1. 1.. PItititlller..l!' ,v.ts a1''Itrnte(I tit‘ (timnlissl(tner in O,:t1'14r 11)-11. and eleete(l (,,intrussltlner i(T
NClvemher 1971 ;Iritl `tl\'_•tither 1`) for iinir-\car terms ( I)it+t'?tlicr is 11 \ears itltl and a
Lrit(iltate of \11;11111 1e!il •' 11,10h •;.h111i1 and the: ( trictnnati ( „I \I•';'i.::'. le'i•,'e Ile is( h:tirlll;tn t,t
the Board tll \hern•1'iunl;ce; i !r.ler,l! Iilulic. Allarnl
\lanttltl Reh,lst' \\;Is , '�'Intetl ( ( . t!111!I,stt'?le( 11! I`) ele,.leti 111 \0,,elllher I') and reeleetet1 I!1
NllVel(lher 197- for lour-Ac,l�r 1er?'i, reslle.l1Ael\ (1(e1),!,,, !, -1-1 \car, ,rill ,!;1,1 I, ,1 !1r.ttitiate tit
lialtlnr •\ea(leniA , I i,fA JI%J. ( !:h•i and (ic1,rt2ra Institute ,11 I Cehli„ll+;!'. Aiiallt;I. (te1,r,2I,t Ile Is sell enipt11%et1
,ti (teneral (. t1nir,1Lt,1r 'inee 1`!h(+; and .I, ,1 I and ( Iltl,lilt,tllt 1;1 AI1a111i ,niet. lt)'2. lit' is Also 1 V-
et:liti\e \ Ile 11 re,1(Ic'lt ,tl I(ati11, til,ll1, i!) \\ ; 1(
.1. R il!e' \1!,ti'il f. ,1111111!„i,',t1 ,I, ( :i', \I.: �1,1,'Cr „1' IIII\ ?II i, Ile ser\et a�
( 111 \I,I I1aL'e! I'1 (1r.:ntl l{.!;'I.1,. \1'\`�IL'.: '.' 1,111 it, I,l-f, ,1!•,1 I, IiCi•;i". ( it\ \lariat er ttt (Irtntl 1(apitls
Irttlll lows 1,, I'1 11 ( !i\ \1,1 ; (t'.: C !, 1.1 \ears 11111 ,t;lU .1 Lt.l'. IJte ,tl the i no. erslt\ Itt ( (IIe,1120 itlth
I3ael1e11I1 01 \li, tIc !et I!
the Iniern.!!I„ i,!! l \1
'rifts le r .In aett\e member t t
)allies 1' (I)11Ct1t•l , ! l-".!'1:1' lt,l the ( ;lV A!'.ti'il. `.` !, l�[:Icla.:li•1 irtiltl the l tllAerstt\
tens' \t' e\periet!e ;II And g11\crnillella1 scelt)rs
l II1C Ce,lil,till\ i'ri,'r CI!ll'! '.Illl'l1I 1Cs iile t ni\ersll\ \\.I,; ::.:'tit!, 1{1lelill' \Irl'lane (r1n1(',111\.
itletet: ( ttl!rll\. \\.f,j"tl:"."! 1111i the ( It\ I'1 (tt,illii hard. Ile 1!.1, et'i' I,„'el,lleli \\till hl\k;lnls. I lhs. 1 ions
and the I;,r\ ti<'!•li(, IIC \t.l, ,t Iltlil!el i1'1111 I1'tarti illfe'ei: ai:ci 11s 1 •el\l'tl .Is .I ( ttlll 11lssltlllcr t111 the
(i+'\ell,lr s ( time ( 0n1!1,1,-,l ,II 101 'I!C' i.fIC . 1 \ilillli.IlY.
(tet,rJe I
Ili\e,11\ .t1,1 I li!\e','.
\nler{ean I
the ( !I\ \!1•'ii!C 11 the ( II\ ttl \It,tiltl.. '•\ ., !r,11!1 the \11Chl,e;tn State
'( \iI,t11?-. 11„r1,1,, yell, ), tl ttl I .IN P.:1 :i. its '`CCt11111!1!'. ( IIV \11111'ill'\. Air. Kn,t\
I 1\\ at the 1 :11eFVL\ ,+t \rl.;!tl,,l,. 11: .1 !!1ellit`t( t,i i'le \,st,eratitlll ,11
1 iiipin\el' IKe'latinm
I he ( It\ e11''t ','' 1.3- i l'e,`j)i t ; der the State ,)I I'lttilcla l;l\\ ii111t1,1\ees ,ti the ( ti\ t'i \it.tl ll Mile
,:ert I111 rl�ilis. I',!el1111111`_' the right to bargain et,lleLtl\el\ It\ re1'reseril,itt\<;, t11 Itteti ..h,1&IsI11L t111questions, t)t
a:It1 1'tHel te!1„ Rl e,ltitlltilrn, >i eniplI \111e11!. I!'' i.!\\ and llle State constitution
ltrttllih!t, ,.,!I e, ,\ i1'i:1'!.. '..!i •. 'V('I.I\CC, \l't'r',\Itll,tlel\ 2. it% el;'j'I,'_.ees are ltrt!aiti/ed1 in
i1AC �,IIICtt!\i i':lft`,lUI;1�!' „alas air lie iel'Iesc'I!lel hV A,Ill,tll, .tsst,elai:-'iri ,cad lull„lls.
he'e are
f't, vv.th I;,t, 1 t'...L I 111. and the
Illter'il,All„!l,tl \••„ _ ... i ,. _1,., i 14.11 ,‘,, I 'I' .., „:Arlie I l,.l„'t. I. 19's ( ;IL
rent1v .1 third I:il 1i ,i!. .. . . ' ,-':c ll' .l1 i' „ise 01 - r . . . !11e11',ite,1 tll , .i y,t-veat lah,,l
agreement :kill he doe', 'et1 e„'e!: le !i''.e S,tn!t.itl, . ,r1, •eti 11y oh: ( itv .II A11;n111. 11,01d i 1 he
Sanitation 1 1!11•I, •,:e-. \ssue;ai!0!1 ( , t!„,t. \\hen e\Cellte,i \\:II (.\rile I,!k Seltten et 'il 1,)-')
1 ,tl' 111e h,11J;1,e 'l U .' \l\'. :1`I,I\ t , a1t1'hllri iene,s t,1 lit,' I',!;'J 1!!1{!lt' unit has heel appr,t\etI h\
the I'I;I)II, I !!!'\l t\ee, I\C{,!t{tt!i, ( !' . ,11''1 ttl the State Ut I IU!;It. l !I I, ,!;rich ,tell the i'111t11C' 1 111-
1t10'.ee, Rel,lt!, „ ( !`:ill., 1111. •.\II. l!t;jt, ,.'1 ele,:I!,111 1,1r 1'11r1tt1,e, ,rl t!it'r{111111;1: ',\hl'Iher,I1 :PO the h;ll,lnee
t11 the el\)11,11) till.T .1,I!. 'or he ie1\re`entett t,tt h.lr!' nnti1L1.
(I t 1'F: sIO\ I 1 ♦I)5
\\(1 \l. 1) 1"I \ 1'Y)R 1'1 \'I(\ I'I \`s
( alcndar 1 car I nding "
I)reemher 31. I')'n
Miami I.n11\I,,\ees. Ike trement
S‘ stem
Miami 1 m111„\ee, Ileti euien', I'1,in
l)ecettther 11. 19'
Miami 1 ttmlo\ee,• Retirement
S‘ stem .. . .
N1iaini I tn1'!„\re, Ileiirement I'I,ut
101,11
1)eventher `1. 1')-4
Miami I n1111r,\ee, ltrlitrtuent
S‘ stew .. ......
\II,ont 1 ntlliovees. krtur,..ir., ni Non
I )c L111het t 1 . 19-.1
\11,iwi 1 n111i,1\t•e,• Iletirentent
ti\,tein
\kiwi I tnpl„\e,:,. I•t •Hrel'.1enl 1'1,1tt
(itt•
( nntrihuti,nt
lccrurd
!(errrlit lhnh.
Including
I rnpimcc•
\1 itlalrawal,
I rTi(drK ['t•
( nntrihurinn.
Init•rca
I.arnithp,'
'sh.52"•5t11 $ -. t ti`„i1V,'\c S`.9-4.713
S 5.1r,�`�(,1 `s4"of, sl.‘,{0."15 $2.215.597
51-I: NI-, i,?+r S,1 5ti2 (�! *.4•9(11•:,'0 S`.I')O,31()
$2.916•9S1 $ 56.101 :Iv,
S.x.I'1.6S1 S1.15.3'(I,in"
$4 '71.823 S 99,000.itt)O
' 99,110il.O1 11
$',11(I,.11)X S 65,00(0100
$4,0.1'.S(Ifl S 05,0011,(1(tll
1-1,-1 .r,1,.1 S1.191.?04 S1.555.9I07
*3.st1',-1(14 S',lf,?.1i" S2.t)IM.48'
\`.? 1.tth\ ';-1,(15' -;1 S4.'74, :' )
$4.481.32 , ti2,1*7.051 $4.571,531
r121 *-1.2i4.615 S4.571.`.1I
t i ")n $1,',\9.51 s S i.' 11,S09
$'.--19.s.t, $1.705.:2(,
r,1.� '• •495.I141 $i,? 12.sOt)
arni4, toi Plan ,S; ti,,t.tit \\ere Lotnhineti prior to 19'5. In 1975 all (ien.r,ti I mhlr,\ee, t\ere transferred to
flan
**The he lt'.<;.I year tr. er d Se1'ienlher .10, 11r;;
"SUPPORTIVE
DOCUMENTS
FOLLOW"
The (it\ has t\k,! separate Pension funds. Hamel: The Retirement ti\stein (Police and 1 iremen)ettec-
tiee I-•ehruar\ I. It) -II) the "ti\stern" or "Retirement ti\stenl") and the Retirement PI;In t(ieneral
I niplu\ee) eitect:,e Il:l\ I. lt)`h (the "Plan- or "Retirement Plan
life et,l?II,Illetl Ilnliithl;ti II.ti,1111\ f-ir the ti\stelll ;tlltl the PI.III de,.reascii Ir !I1! til-l`,_`11 •Ztr(1 !n it) (, tt,
$1 .-a, ,'ts" 111 1'I i i c ( it • in , ;Ilei 1„ reptile Ihi's rasa ser\Ice ll;ihllil\. is ,inl„III/It1L' s:Ilil :tlli„tlllt U\er;t
35 1e,tr period u'„n the i',tsl', .•! the ,lettt,lrles c,!liTut itt„(ls ill I I \ i 1\1\1,61 '.kJ Cs t„t' Ilte Pl.lil. ,lull
1\,1\ r„11 ',t aJis 101 Ilk: ti\ sil'lli
the !11„s( !e.e;t .!.:t I l!i.II \,Iltl,ti 1, ,l I,'r the Re'tirem n' Pl,!!1 :\,1•, l`erti,rniett I`\ I\i use. ()( nnnor 11
Lill:.'. kill.. \ctil,ties. Plantation. 1 ,Is „1 1)el'enihei 11. I his \;t1U,itI,�n disclosed there \kits an un-
funded :ileruetl II`,tst ser!feel indicated that the decrease in the past
set\ Ill' cost It i!l the pre". ions \ear \t,:s ,cue ti,:
t) �al,lrles hel!In :Here t t"t ''\ ille i,n\est r,ttl' 111 itl,in',
lli 1 he rate ''1 I'I' ,',I! It fll rliltrtl I• •! iIF;' \l',11 !,C!!1!'
c) 1'le 11111,1 C':Irni!n,•. . .'(;!'t111+„1 ':i n rlllseil 1101'1 .a
ti, the - asstillietl rate. arid
per \C'ar
I „r the Rliire!Ileiii `itsit.'II!. ! .I,,si t:lirrenl 'nei,aretl h\ \le\ailt.ier t, \le\antler.
I he :li,l,:ill ;_ Inhnuleii t e wilt\ as 01 I)ceenll\er 11. 1')76 \k,is
determined 1„ he 'is:.1.1 f,l, IIIe sl!i,t\ iiltl!l,tietl th„t ' _ ,• tr,lill ells pre ions \e;ir \kas title ttl
,I) I he iell!!!l e\Leediilt' the current imestillt'!!I asslllnl`tit,tt
ill I hi e;i,ilted :Inn11.11 lii\r'' Hint ,;llt1 :issunll\titnl Lime
\\ iesricH
1, [eased li,''I!t -1 ti! (I',
s,'the 1`rinellv,II ,Ic_,. iic
( 1 I \s („ i,i l}tlia!_ method
' \ `s1 i \1 I nil \ \.'r \„rin,ll ( \ieth,ul \kith 1 ri;.'t 1 Initial 1 !,tl,ittt\ m„tlitic;tliuti.
1 illy, (,!`l \leiht,tl, liit4tltll'tl !es!iit ill eel Ilt(itll!1' I\\ ( it\
01 1`,i\ roll t.ilti!1_' int,, aciitultt li,\kei ( il\ et,sts l,,i !iC\k ei111\Itt\ees atter ( )et„her I. 1974.
(21 \s t„ ;nterl',1 tr
ti1ti11 \i
{'I \\
til ti I 1 \1 .I \ :1htc
P1 \\
Market \,ily liken Intel :IC'eiilil}I let st,ll
14) \'• t„ retttcnte!It age
11sII \1 ;t
e degree (` \ear a\eraget
1'1 \\ r,,
\1e111hershit\ P1.111 Is i,!!ill\U1s`,r\ fur l'l,tss11.:1: l set'.,.'e, ,,1\tt„Ilal I„1 ttnel.tssihetl elm
pl,t\ecs and 11`'t ,''en 1,, tcnirtir:tr'. eltll\lttCC's.
I he ( It\'s contribution is determined .Ituluall\ h\ the •\ctu,tries 1 t\tt, \ctuaries determine pension
henet its to !ellect cost It life ,itfi,.'ttilents I,,r all retirees. \lso. ihe\ ,,ietil,lle separate (, st ltlllltes Nhen
tie' benefits .iti I''ilttt t,'ftsltleretl.
1 he Retireltlerll ti\slelit and PI;111 :tld reported on a calendar \e,1r I' ists- 1 he ( Ii\'s required eontrilmtion
Is made on .1 fiscal '.ear I,.tsis ._,,Itillleiletile October 1st. the untitrille,; l:. c'IIII\ iietleitell is determined tlhun
the h:tsls "1 data ,Is ,11 .I,tl}tl.tt\ Is'. 01 each \e.tr.
I III IIIIIIIIIIII 1I
•
Frit' I)ata fo7 P 1/4,211/4 fOr;}-i sur.....-.1ar foTrn Le
e•ser,t;ai cata e Retirement Plan and the Retr 1:r-en1 Ito; (.11 IL,74
itit-lut ‘ccnnntitn, :and Ntuhtint
T 11\ Tec.;;!e, tr.e ...-rr.att: not later than rior.th
-h '02,17 1 ad TICn 111/4 ov, r fklr 7C‘it:\k 1-,‘ the
,%larcaye.7 Fri Comrinssion hud pubic 'heal-int:5. on the honyet 'And aciopt the bitdpet TIO1
later than October 1.
he Cr.‘•.. or. a 1'o..i..11:,t
„dc:HIcci tn'11\ r;rm in.
accountants I :lc (Ipinion1/4 01:11/4t(1,2 ,ertifivci puhlLill:Lt,untitnt,. are Ineltitit!cl
tn the Annual Reports of the Director 01 FIT -lance
itts
.• 17: ,.."‘
t-
r-N
FL) Li_ UA
REVL\UF:s AND F\i'F:1I)I.11 RES
(;I:\ER•1I. F t 1I)
StIT('i.1I 1CA\ (.t v\ (1 11),
and
tIONI) A\I) I\ i FIII.S1 10.11M \11• \ I Ft \i)S
Fiscal 1 ear Faded 1cp(cnlhcr 1(►
Actual
(U77 '
Bodge'
14/8
Budkel
Re entie:
Ad 1 :Ilt+rein 1 I\es (tics )
General Operating S14.919.4S7 S18.313.454 S 10.457,556 $ 36,S72,992***
'pev'ial1a\ Low,- 10.hh0.921 10.111.50 1-1.070.583
Oeht Scrylee 6.952.8(10 ..621.525 S.318.S63 11.799.357
Other fnc,!rnc
Operatm): 42 293.1(L 47.242.576 59.755.701 57.991.077
1)cht Seri lee 8.661.697 4.591.3?-
Opera.in and i)eht Service.
tirid
SS 3.68s.()15
SS 7 . S fi O.400 51 O' .60' . 703 51 . ' 94.61'
l.Ahrnditurc.
General Oper;lti!In-• S60.1 7S.437 5(17.072.614 S 74.012.073 S 95.S64.069***
Special -11. 1 CV‘ I:und 11.938.0311.424.713 14.475.935
1)e'''.
}'ilnl,.lr,l: And lnt;le\•
Oi tie7
�urt'iu• +!r 7 1 )c1I.1C;1� A , i�l
Re\cl,ll: \ et 1 \t cndi?tares
1(174!1.' 1:
(,' 1.&)
5ti1.01O.5.0
)3.51r.195 15.030.543
t7� 5C)t)
S102.602,70.3 S110,894.612
799.65 i ;' S 1 :.140.1:;(l)' 5 _ 5
'1 it !.!t re en r\er e\enaittre' in )077 and 1976 acre ui('sct h1 limit balance tipprllpri iiions. A11
1'i . ,Ind i4 (; kien: v:'il�� p;tt111C1n, Here e ��??CtiU1C(1
INN. Lt ti.a' :': ,,t:.. e`. .; 1Litl,'1' I11 huli!eied e\pefdrttire..
.17
- \.ti:,, .f' .11,.iAl ,.,'1: li', -0l?1-.11:1,.
"' ltl� f;"ilil�l'; tit!!!"!IiIi,IICU the ('ei er.ti Oper.i(it11: Iiti&iec; arid the Speilal 1a\ Levies l3lll{Le(.
4
RATIO IO OF NET I)E;BI .10 ASSESSED I) \ 11 t .\ I ION
for ri.ca1 %car endimu September 30. 197" but includintt Ow S14.049.11(1(1 I;nndc.
17 \c'tu tl \ oblation
19'- \�ses.ed \ aluatittn
Rea1 Estate
Residential
Cominer;iai and industrial
Personal Propert\
1'uhhL I ttlttte
1'ri‘atel% Oc+ned
Total
7 otai Debt tntriuding this issue (it 13t1nds)
Cienerai (1hit_2,ttt,tr. Bond.
incinerator Revenue
'ere ice 1 at
Orange 1311\11 Re\enues
Orange K,mI \\;treilt'use Rental
Oft street I'ari•snv Re�enuc
1 ess !sell .0 ,;),,rttt
NFT I)1.1i'1
Ratio Net Debt to Assessed Valuation
*Preliniinar'fay. Roll. Final Valuation not available.
S137.945.0(ut
67h.000
1.650.0t10
775.000
267.000
6.315.000
3.54`:;
S3.S81.367.570*
1.426.257,492
1.701.11`4.9 7'
470.(00.265
S3.SS 1.367.f70
S 147.630.0(10
S 137,945.000
,
1977 Estimated Population — 356.000
.000
Per Capita Assessed \ alum ion — SI0.9(12.72
Per (_ antta Net I)eht — S 3S6.11S
"SUPPORTIVE
DOCU MENTS
FOLLOW"
R-1I10 01 \LI GI:11:k1I. IIO'I)I]) 1)113"I
ID NIA 1s'I'+`1:1) 1 11.1 1:. \I) NIA I30\111:1) DI !VI I'1:k (AI't-IA
Net
1 i.e•1Il \..e..ed I Innle.Lt•ad 1..e..ed
1 ear 1'npolatinni \ aloe I ‘enlptinn \ aloe
14i,- 320-I11 I.1' ".1"-•1"- '1h-f,-t, 10
1.4f,\ z'_;.(tlNl I. 11. 2- 59f, 2111,6:7,(1';
l4t,u 32.,(I(4. I. 1'.40:.1,,1, 2(9.41):4.0r,;
,<1-I t tine• :.Ill- -9i...., 'll. •:'. .<-
Iu- i, 1;4 st,1 .7:'`... "1 (1t,, 'n:4nn.y•
i' : ;100I(N'' _. . 1 1r,u .1- 2111 `(' t11-
1,7-.4 •.0011 ...•1 I.'il:,"f,l, 14(',4 1•
14 '156,00fI 1 '!t'.Aki. 1 .'1t' IOU e11 ...
14't• i'. »4l' : ut. ' It,; Itp. ;;. f;
.!‘'i--- 1;h,llIll' 4 0 -t, (•'t. _• '1' .'1-:, .11,t
katio of No
linnded Ileht
h, No
1..e••ed \ aloe
1.4
2
(14
174 2 Zi
{f1
h3
14
Net
Bonded I1eht
Per ( apita
79.0
S—
100.51
1(If1 It,
144 3(1
15II4t,
2 SO P4
216,13
265.51
2Q1.('=
14 (1-
*1 • lrnateei 1r i,aa• „ a I )t•,i ete:trrt, and ee.ue ,onne,:rn,n, ono !WV. ,?"ell:',_ unu, +,n..nu.reu. eere^ m tb,,.c %car. whiff: a I edera!
Cer1'11• teal• :I%:Illabie'
•' 1 ne t?`.f,10•4� ; increase Irl the ('tn.` net hi 'tided deht between the 1-ta.'al 1 ear. 1073 and 1971. wa• nnnlanik ctnl.ed he the sale of the 011-
leleemtt general Ilhhe:nrnn bond.
l'uhii: Par), ;Ind Recreation I AL lilt ..
Storrl, ~ewer Item eenlerlt,. -.
"'hLial tea; tndtnt �ctteulne 11 I', not ul.nuiin:: tiu. I..uc,+f 14unti
`•"l'rcitnnnar% tan Rol',
Mil (1111'
1000.0 E0
Li r} t f >r L:.
e
D J e i v; (-f f
_ \e� (\
F OL LG v"'
S'fA'I EME\'I OF I.F:GAI 1)F.13I \I AIt(:I\
September 311, li► -
1977 ♦',\I.l A110\S
101 AL ASS1_SS1-1) \ Al Al ION
HOMI'STI.Al) FA I \11'T VAtATION
,'\SSt SS1.1) \ Al 1 VI ION AFTER HOMESTEAD
F. \ 1 \i 1'-I I Oti
I.ECAI. DEBT MARGIN
DEBT LIMITATION FOR BONDS
ot S3.881.307.57U0'
Present Debt Applicable to Debt Limitation:
General Bonded I)ein
1 es,
\s.essnlenl 1 ien
1_E.(i.'\1. 1)1:131 \1 •\RGI\
860.191
$4.076,69( 520
195.3S.9s0
• 53.8S 1.3h7.5 70**
582.20 ,135
S 45').1 c,t1.32t+
*Section c:s of the ( Ciiarter innit• ct,ted Bonds ul the (it\ to 15', I)1 the assessed valuation ,)I all real
l r 1,� \\iillln tiie ,:it‘ lituil� a� st+1\\ii h\ the I:t 1 precediil!_' asse,,Vllent rt+ll t`� file (
anti r\'r�+i'�.1. �`I I eft\i
I3t)ndS t1)r street. se\+e Mlle\\,l11. a11U other ruilll(: llllprtl\elllents \\hICh are paid Irolin special assessments.
t(1 the amount tt+r \\ incr. the (It\ shall hold liens lot uncollected special :tssessinents. `halt not
lll)Il`suct '\I, me that
such limitation ul annnlnt nor he ,Ilnsideied \\hen eunlrutn12 the amount of enerai I }
ma\ he issued.
**l'reliminarn 1 a\, Izuii.
I
I ks% 1)41
pto-nt•et30.111--
aim 1'477--S
Re.6 . • . ...... • , .....
1 t.-ss 1 i ...-‘1.dF xc7r,ptions
R.00. I tr- -71+ Dpthir. pr Illoo;and of A, Value
al V;i1olettl Ta‘.
Le
" Prelirninitr 1 a). Roll.
Colit•Clitins:
3.150.466.130
A C7-7
4 A1760-36.5211
31.90 1,
A d \ ali.rem
"I 14% Vitllaer I a%. 1 et%
.... _ ..... _
I 0 ON' c31.•:.. 13.675,
'z.-200 1 2 .0..37(,
I Tz.-200 S51.234.0f,
I nrciliected at F tiel 111.1111ected Atidtql ( (tiler ted 1 ntidlecivd
tl itim id a Vt.cal 1 vAt Sententher All. 147(t 1 hi • 1 vat 1 Ito. \ ilir Sept intuit All. 14--
1 :4%. 1.1.t% A rimiin! l'ot vrital2( A moon! I'vrce•ifittet "I tt Dalt .1 o Initt *mount Pot oil avt
, .- -.- • t. 1, t. -r 1' , .... 4c,-. _ .
--
l''' .,ty I ..7.:
A t Z • - i • A : ' : ' 4' . , : ; ,.1.,...: -, .7.• .. 's 1 - ... :%4 ...1'", 2 (.1! ' 4,...: :.. ..„4•.
•
, ..,,:•-•, .: + ,„:,.. 4 Li.,•f,C,:..... , ....... 4.:i.
. 4, i‘.: I' - _ . '2;.:'t 1...''t• 1.3(1-.-22
:`;.
..).•:,...... (. ',..*:...%. ,-1,1*.:7..• lr.: l..) ....,',,o..te.. '.1..1':.. 71.'ot.1....! t `. ', ...:t:e'.it.'.. tIttl1lt:(. 1, the ( 11\ 1),)%.: to
:tc.:..:. CO ilornl.. Lql(1(In`.. IT, !"-'2. 1`171' .111(., Pt,--, illi.:0".i•:,..t.'li ti%1:7,.....lien;
":,,,..-;1'. %.:',i. cr-i(i..n SurIciwt!... ..114"—...
1:
"SUPPORTIVE
DOCUMENTS
FOLLOW"
•
. •
TIW AVt..RAGE iS24.0011 assessed value) pays City taxes as follmks:*
A‘ertige 1 owl Tio,
Specific Purposes
Administration
Public Works
Sanitation
Parks t nd Recreation
Police anal 1 ire Protection
Mist.'ellaneous . ..................... .
Pensions
Street 1 Tilting
Ptibliot and 1ourt•In
Debt Retirement .................... ..... .
*13ased upon 1971 tit \ le' ‘.
13
• • ......
$24.110ii
ith
moitead 1 ‘enition
5316.80
13.54
13.54
'7.34
1(1.()3
t)11. 54
30.10
'4.0S
5.02
3.26
33.35
524.01111
ithout llnrnu-
ctead ‘crtiption
17.11
17.11
34.53
12.67
114.37
38.02
30.41
6.33
4.12
42.13
"SUPPORTIVE
DOCUMENTS
FOLLOW"
ltitil F:l) 1 .11.I is OF ALL 'FAX 11111: I'ROI'F:R I1
Fiscal Nears 1965-(6 to 1977-7$
t(cal 1'tr.on. 1 (,rn.. 11nn1043.3d 'et
i'rnpertt I'rnperl% (nlai I.emptinnr 'Inhtl
$1.111 1.9n._1,1n s 1-;_1,) .wo1 $1.I',2.1,.1 ',,n $21,: 9`3.I:n $ 9(41.5(I14,.14o
1.;11.1)'.i.`11 _23.11:.10,J 1.')4,4,,)911 :0-,611.t,-5 1.3:6.`+22.2.5u
1.:05."6: 11- 11:.111.)0,0 I.n;., -- 1-- :11',.1,"6,inn I.432.3n1317-
1.11-.,•:1.9.1; 1"2,1.:-y _1c 1.--1:.a0).1,,0 :1);."n3.nhc 1.5ir,500.115
1.-=-.511.1os 3.0'7..ns3 2,10-,-91.4"I 2(3.s:°.':" I.903,465,s2.1
I,"t,n.ls: 'n: .iln it,,.." -..x=."! n)0, 202,9011.'3 2,079,65I1,11F4
I.'15".-.-rr.-(0) -14,a.-4,1,0.1 2,424.1nu,.,1-' '1)1.-5+I.9.1" 2..2_2.'18.905
2,1,,.,)•.,.0) •)3.4`)`.>-i ni 651100 I..l.(,,7h3 2.5I13,4(17.62S
:..•1.1rn).9',n (,•').',<,'n.l 1,541 :1r^.-00 10:-,l-,-Is 3.344.10x,14:
;.I: ;,1,;-.n:< (,-.7,r9- 044 -,:r,,;:.i nv) i9),.3:r).hni 3.59(013,-1tix
.1`,,,..1,41.1 10.1 .1'4.9-,, ,):. "n :)c 19• "s.t,C' .7 9.-11.-41
1.3:5.;0L1..0- '21.1'11.•1; a,n-n.t,v(,,_n 1'1;.3',:.'!'U 3.'tKl.367.570
1 1\ 12 1 l 1-a \\I) 11\ 1.1"111',
(I 11. "1 1\ I.I.1 II:'.
Fay Ralc I'cr `1.111111 t!I 1%sessed :dilations
1i.ea1 Gcocral Ii'sI(iue tltdrant 1)ri11
lcttr Operaiint _( ii‘ srnice I'ubtici(% I'cn.inn. I.ibrark% Strlicc 1i it
1'164.r.r, In,w, -n; '"1 1,1- 1:I.i 1 I -I) 1911 Is:1
I1,h_117 v 41,) 'i- - .13- _.:', 9d4 1 -3s 15 7s
19), -1,', v t.n 1 0 _:3 -!n ' 4r1) 05t, I .': 1' ''2
191.9--11 '! 41> <11 .1%1 405 2.4011 9-: 1 1,,s2 15 `(,-'
19-0.'1 '1 1,0) _ 114 42 2 •is: sl,5 1319 I4.1=5
l'1-1. . 1,<. 4O -n.• .420 21,6i 1II.1•• -t2 14 755
i,! -3 (, I5.: 14b, .n- .404 _."79 .O. 21)73 12.673
1!)-,),.-.1 .; 9.1 ` )3 .n- 43!) 2 s'): 4)- 3.7s1 1 3 44)
i,)-a.-< 4 9+U 23' .O. 311.1 ; 06.1 di. 2.311 I0.s\11
01-A 't, : ;4.1 ;-.1 Al- 171 :.`'1 -1). 2 311 I11.31)
l,,-t,--- - t,.1 :,1I -u. -;9 1 12,1 .n. 2. ;II 1 19n3
1,)-' -.••• 1,101)n .11 .n. .0. •1)- AI. 1 21111 11 200
*I Ittirant pert ice tuneti,nl became operatics through the \\ ater 1)it i.ion of the Department of \\ ater and
Setter. sffectite (Icloher I. i971.
**Operation of the 1 ihr.trt tit.tem 1ta. transferred to \1etrupolit.tn Dade Count t effective November I.
11)-\1IIIage Ordinance consolidated the Lighting City. 1'uhlicits. and Pensions into the (ieneral
Fund
i I.1:1 11:s
I i.r'nl (win r,11 I it;lttint.' II\dront
Stitt Opt rntui (it% `,t rtrrr hiblicil.
1 )tt` fd, 1I1•1,,;..,
IOW.. WI lat
-,,- r; ,) e 1 I1,1,
t�): - 1 I - �I-' t,' I :.f.
iu-It.'1 I'.,1 *1n1
Itt'I.-`
I, 1111,, ,ill WI,. .tt-'
C f
14.7.-t f, .1ii,t. 1.3-,.1ir,
11. 1.11!t,`
,vt
I'tu,intt, I ihtittic,
*jI\Irant Ser\ire I ill 1I to 1'et;tl1i ,1i-er,iti\e tllrt'u h the \\,t:er 1)1, t,itnl of the Department of \\ ater and
tie\\er,, ell t c Octtlher I. 19-1
**Operation ,11 the I II\rar\ \,tens \\.1`• tr.in•lerrctl to \leer„1,! ta'', I).ide (tnrilt\ cllet:ll%e \u\eniber I.
1') 1.
** I he 1')77-_, \linage Ordinance c•1,1,tIh,i Itet1 the I ( anti I'en>itlns into the General
hind.
Provcdurc for -I and la
Real and l'ersortal l'rorer-t% alualions are determined each %ear as. 1)% the I)epartrnent 01
l'rollert% .11)riraisai ,i1 ,11ll ‘atue :\ notice I, nimicti 1„ .,•)uer intift.itinil the
riropert% %alliatton I he r I rwitt to irk' ari arrea! i lerl, ot the
Hoard ('1 I,t% s\itirstinehr hhirocemi, ition iletermincd h.\ the \ itu,:onsistent
11 Ohl( .ts determstiol h\ ;:e; 1I-ret L 1eic..rainatioii, are heark1 hi% the
130,11(1 4)1 la% Alin) \linetit 1 lie Iiiiard NlIIc IY1,,k.'S‘,111‘11. the heaii )i ali
ski
\ II la‘e, are due and able on \ \ e react the asse‘synent roll is
certilwil and deliere,1 to the 1)aile , \ ( I hi.: 11,1( I a% Collector hhails t each ta \-
11,1% et on the asses,;iwnt e.s. le% wit I a • ‘, rhaidr rek..etpt iifsirdi notice. \)ilI)
disk:out-us at il 1l c ,i( ' !he ininth
• rth 01 I ehruar%
l)etahcr. ti.\
la \es raid dr,r n C,11 111/41 personal proi)ert
heoinie delinquent pri; IL„. \
11,r the ( t rc % • \ I lPciH Lil ;'perk
ta \es hear interest at the rate ; 1,er ir„n, \ .1 \ie ,...ertiticatt: i 01(1 it
auction trom \\111.11 tune the fl st kid •-„. • .,Vf k cert:Iteate
I1N I. kW,' sf 1 \\I'‘NlItS I\ 1111 (111 (11 \11 \\II
'southern Bell ILP I
lorida I wht,
I ust I ederal ;1'12, I hian AP
\11.11111
l'.1C,` 11.hine ( 11
)11C i;t: ••••01,..
\1.1 1,1111,CM, \1ti1,11 (
‘1t 1'11: P.11/1:1
I Oft
1 I ei 1 \ t : \ s. \ h , s
vaituvoirt,o..11,
cieph.)nt.: 1
I leviik,111
Bonk
\ev,,r,111:2r
Retail 1,tie,
(')Inec
Itetail
\lartril
I
0‘11,1 1 k i?‘ ‘,\}\II
1 1,,val ear (97.7-7S
I ot.,.ti
CNN. AM'T1.1.1it)P1 P cI l
rno,int
1)1(.1`11.fli•t,,t pt,:11•L 1 0! s!Ihn1111,1 rI
It .411
\ Rate, per
prokitwes
• ..
S14.4)11.5-13
3.231,1?s6
.15-4
.01111
SI I .794.357
SI I :79)057
1977
.011,
S2 1 -(1.346
16.911.Y/9
7.211.”
15.:.3(01)(1
'1,4/S5.32.5
21.469,549
1(i2
Amount a\ ailahle ittnieeting sitelt principal and interest requirements de, ett from NpeL.ial assessments.
inkestment earnings ,ind ,opices
16
4
\\ af,4 •1 (rF t Al.t. F OF 1477 C 11 akf.1. f'k(If'FFtt1
kt'al E;statt
ct. 1n(i1,stria!
(. .. A. 1-
Public t • itit a1 d ('rrwna(
nr.nL:c
owe
tor
i.t'a',.)aF.,drlrt 1�
LrIC ;:re .!}c,sl°_% :?\ !%,!C?L (. ourit Assessiii i f '
o rv;veri‘ at ball value. Ali
assessments raa:+ rt !1`i'Cdt.0 for re1lL'vs (if the I) i ( 01,1:i1 of f Qua iil allOri.
RI•: 'F �l'F: snn C.i.i.RF.
T t i irtl!(1\tji21' is i. ()' tr!f ( i1\ } 1 Set t '' : 1• 'i. .'-1C'. t` 1CSdJrC_. C.a�. ..L*li
'.�• ,. •C'lU_< l[1" 1l;C 1!�L., ‘Ca'
t.i•(it r:+i and ••••.nr(iai 1 ('v \ hind.
�(f \ atltrt'tr1 f C!CCUhere In this O ltc?LS S%iter11Lr1:
Fit!•!nr�• i lcrr?sr A. Permits .— T Pe 1, 1i\ J;:JCS :i,v. 11.1 t .:c:.ei:, \ii.L ?.e7s.cs
1.1% L; ,,...:1 C'. i �.. I,'. ll' •.. ..... .., _ ii' ,"i: (' ':: L'1� �._., :t�'; ir.
,. r. ., . �' .\' r _..�. I\ ^\ ,.., t .•t.': ( •....;\ 1 d\. ( t ilCCi07 T irC?:
\:... C, .1 ..?C t c.. i:. J; rl� 1f•?1!t is e' t!t
1 trill l._•. ••••, r.tt c f :!
f t'licral ke'v: MI; ",itarin
..,, `1,!11.t3
State Re%rnue•'haring -- 1he rc+enues distributed to the municipalities h+ the State of Florida are
derived from a t'.iLcntage tit Its Lollection of the Stale (nnarette Tay, the State 'Motor Fuel 1a‘. and the
State Road a‘ the t it\ h;i reLel+ed the folio++Inc. Re+enue Sharing funds from the State
Fiscal Scar
19'5-?(t
1976.77
C)ti•Ss(I,a(15
1 1.(17(1. 7 1 to
Fines and Forfeitures — The City has received as its pro rata share of line and forfeiture revenue from
Dade Count. since the courts are under the jurisdiction of the Count‘. the ttllov,ing:
Intergmernmental -- 1here are five intergovernmental funds that are self-supporting because of the
revenues derived from charges for seru•es to other (it' Departments. the+ are:
Cit.. (iaraee Purchases anti maintains all hea++ ectuipmeril used h+ the CO.
Motor Pool: Purchases and maintains the automobile flee;
\laintenanLe Division; I'ro\ides regular building maintenance. in ;addition to a limited amount of
huiltilrre :thermion, and ;tdditlnri
Pr1111 it tti the ( it+ s. bruiting needs
Stationer\ titrtLs fund Purchases atltl Stores tattle surpi\ items consumed in uuantit' in the (-in.'s
operations.
Enterprise Fund — Are sell -supporting activities ++high render services on a user charge basis to the
general puhhL. 1 he+ are the Orange ftot+l Stadium. the Marine Stadium. the Nli:uni Baseball Stadium,
\1arinas. Dinner f.c, ludtt;triun:. (it h i iLes. and the \\ alehouse f`ronert\ ++hl,..lt Is used to build and
store floats ittr Inc :Innu,l'; Ot:ni,2c fio,+i ;�:Iratic
1S
"SUPPORTIVE
DOCUMENTS
FOLLOW"
( 111 OF \MTh. ORI1) 1
pRIN(11, \ vs,i) IN FIfll RFQ1 IRI\iFsI s 0 \ 01 \ Dim; H0\I)
1\1) 1111 s14.040.iimi 11()N1p-,
Iota!
I o.• kettoircnivnt%
Fi.4.111 "nil- for
‘ ear 0mq:toiling Ilion!, I hi, • 1-1,1t4o,iiiiit 1..lit liranil Supporting to:tier:it
I titling -- loud Debt Obligation
900 Principal !Mil-v.4 I Mai Vrink ip,i1 Ink rcst !WA Romilirvillvtit, Rt.quirmunt• mid..
._....._ .._ ti-
1,),,; $ 6,1-4.1111(1 S •;.-13.‘‘.:1 $ 1:1)•s.u2i S S ;,..4 -. ' S I: 4-; 4,rs S ) !,/,1. I:it S 11 41,2.11,
tti-ki 10,-1,01,11011 1.4.4..02- 0,.SA.1/01- -11'1 ; -, 1- t,:`1.111: i 11.'•12.- (..' -A.212
1,/l11 111,1' :11,11110 i ‘1,1. • '. I, '.... ' ..' 111111 ..f`q.1 ..... , i,1 : . -.. 1 ,-..t191 1 iilh.,1-N 1 b.2,11.1142
i OS1 9.°1.1)11ii .,,t,,N z,",4 ;` '1'0 ".1 :','•it.illli1 '' - s.74 1,, 4.4 - -.1 -,1 1 04: to): 1 `-11 /4. - - '
.1 1..4,, Op 1 1.1 1,, .,p, •,-,,1011ii '.. . 1, 601 4/.,• ,,4,/ ..1,'2" 14.s41.q1S
6;411011 I 1 ' 4,,lo,' ''',1II'lt, : -
19s..i .1111,i ..,"4 oiti• 1, , ...i1t.(1112 --(toot] t...1-.1c.; , ; 1111-.,i-- (.,•;4.,;,: 12.1,2.1:2
',(11)11 1 ir, ; .7f, . i ! . Z:' :J.-. ed/ !Oil ',if, ‘: - 1M .,:', .:11: .061.: f,"1...'12 112,;(),•-ool
',,$)2-,111)ii : -,:-.,,.11- ;11, -,,,. ,0,- ,q,u, ii.iii ‘-‘1,.11:•-• .i.1f,1,:: 1 ,,,,iti,,,,,;:s 64r,.4:. I 1.2‘,A,-toll
1,),,- -..:;;otill :,1,..: 1/11 o -.,,, ;,11 ,•11.(ilio '"--.. 2:." .1 ..1:- 10.1101.-41
pi•o. 2,,oll1 : ()!' 6,711 , ,121,:t, ,.01(1(111 424 4.‘; 1),4 ..r:- ,I.12.114: h1-. 1.70 9.2,o4 ''A
19Sq '.-11,11111) 1 -1,; A4- ' -113 "4.- '^f,''. 11011 4011,2', 17, s f ....`• ‘,.-1-1.1: .4.1,l-
19,0 A ,12,1111 i.44-.,,-, f•.,),.u,-, 4-5.t11111 412 '••,t1 - ')11-.2224 .11-t1 ".!. 14 •,'.
iki9 I 3:41111.111)11 I :IN t,I1, 11.111.).f.111) '-5.01111 4 111.11:"..; 1,11',,,,:‘ -..!1;.': .4`",.11"
1,02 4.:1111.111111 ,i— ..1; ' 1 --.*4 A`.01111 ;91.11111 0-4 "(111 0 1,2.141 -41‘1,1ii-; 5,(,91.(11t,
1,111 ;,-.puittil 'rot,' -1st.:. •-•; (111(1 1ll 32.,,-.; .;4,),).::- 4:s.12::. s.(1.11,002
1114 1.4,.(lt ill —..:,.1,11,, 3 til's fdt! '-', 01111 :16.11-,1 "I 1,11•;11 .4.'Nol.f,,j 4((1.11-.; 3.3)t,
IOW. i .1(1111111 144 : .. ; ,/..s.1 2,, i 4,/i1.11,111 11,1.4.''' ,..,'. : .1...'` 3 • i s -11h -161) o':..; 4 1-:- -.1
Phu, :,,41).1)111) ..2t,:, -z,261,.::, •90.011() :-1 , .112,..1.1; 464 1,11 1.1,f‘4.03:
1,14- '2.(i).11(!tt :7;1.2', - 2.9111.2‘" .1•oil.nnil 2 zo,-.2.; ...:•;,;._,..-, ;•-;(1.,..1' 4i‘h.2-` t.264.
!‘11\ I 4,iiito LI •12 I .r,iit.,,, 1 : ••••911.1111111 211-,11- -17-,11-' 2..41);.!,S-
-F2.1"l(
1,1qo N11.111111 1,011 4- ,')-11 ..1..".111111 I -4.2' -09 1,:• 1.II,-' 4-1.1111
:11110 -11,,111111 f,11.'1111 .1"...-.1li .,,,41110 1.1A '1111 'or' :HI !.1-',.-(Iti -1-'•:;()(1 -(10,21iit
'onl 44•;pnii 4.,:'.h-, ...•:,:•-•.ii) 1 i -1.0,-'; 0toi f,-, 1.17.2.;'41 42.0-7'
21412 2-111mt it 1 I ;.2till 2..1,2oi1 •••••=,,,I)ol) `...4.1o( hlo 1,..,11 '0)::.1,"ol 2:1.:(10
41,,,,2,. Fop. f,l'^ hi),..r12,
PO) :".,II(Ii ,%, ' , ,a,, t(I ON.1111)
'11114., ,f ,It111) 1‘,.,1-; ; ; Z '..' 1 i 1.9-` Ii1.4-S
:0110 1!;.1)1111 i I:7in III', -S11 ;11‘,.-•,11 111,.."*;11
:00- .,11..tH11 lit, ',2-; 111 .2.-• irk.2--,
211(o, ; ittodli ; ;.c•-, '... ;.,1:-;
11
`•.j, 114,1,1//,1/
L2.,.1'12
1111 121.-11-
Note: Interest on the SI-1.040.0m lered t:or 11;ts been ,:aleulated at the rate of 5.5: for
purp1 se. of illuNti anon
The S14.040.000 bonds are to he dated December 1. 1977 and the tir.t mtere,,t coupon be due ,Itine 1.
1978 and eini-annutHr thereafter and the principal. till he due on Dek..entber I. 1979 through 1)ecenther I.
2007.
Of " f Si 1 1)I\G GFNF:R \I. °BIJG \T1O\ finyI)w
September 30. 107
(tt•m•hd (►lllie'arinn
Fire Fighting (urilitle.
Coconut (ir(ne Inetner,ltttr
Refunding tie1v,,2e I)).pn,al littni1
Ginner he\ \l,trin:t
(.and \t_qui.ltit+n Bond,
Iia\front I Cte:!tl+,n,ll 1 ,l-illtlt.
12eLreiitional l .t Illlle,
~lurid SC\ er In'i1r+ \enie !!
S;init,ir 1eUer
i e,realittndl I :ILI)I!le•
Storm tie\\er 1111t1r+`\e111C111
�inlltar\ Se\\er
( till \enOun ( enter
Similar\ Se\\er
1•1re 1 ichlin ` I .Irllitle.
i olic.e I ieat1yu.uter•
Pollution ( 1 ,t lll1 e
�ani!;Ir\ 1U\ er.
1ll'h\\,t\ InTr+'\entent
Storm tie\\er In!I'r+t\ellll'lll
1ltth\t•t\ Im1'rt+\relent
ti.mrt,lr\ Setter
l'!I1 1'n.!htme
tianit:!r\ tieltrr
Police I le.ttltlu,tiler.
Storm 1e\\er In1('fu\elllcr,i'
Street t� Ill!`h\\:1\ 1111111'++\einent.
Public I'i, t\ 1 .:Lilltie
til`trin Se\ter Ir'!t" +'.C! , 1!.
l'ttllt'e IIC.ttitil;,lrl.r
Stnrrll Se\\eI' 111111rtt\ell1Cf11•
Sitnitar\ Se\\er Inll'r+'\en1c.'I;t•
Police I Iea(Itltl:trtcr,
Street Lk: ili,'h\\;t\ initx,•\ernri!h
SAnit:rr\ Se(+er Bond.
1'('liec I lt.,(1t+ll.,rler.
tiann;tr\ Se\\er
Street t\ I I; i!\t;I\ lult'r++`.elllrn!•
1 ire
Pollee l le:tdqu:trter.
Sturm tie\er In11\r(,\(merit
I inat
\I:rlurit% \tnu+rn( \ IIIuttnt
11:itt•d 1 t•ar I.wcd (hrnr:mdin_
.1-1-5;., It)'s, S50.1100 .4-111,1)I)11
3-1-3S 19xs I.11(i.(uu c-;.n(iu
1-1-62 1990 14.S A-(H1117,6-0,(IIII)
(,-I-('1')..-(I(),(Htn '\rl.(1(11)
`<•I-(,7 i((- 2•7 tl,()nn 1.!-0•unO
4.1-h' i`)',- I.Illllt_1llitl 7-sI)S,111111
ti-141- 1+,,- ' I .t!nt),(Hul :Ils,lln!)
5-1-6' 197N 1.`11(1,111111 1G1).11111)
I-(,.,, I')•` 1.`'111.111111 >-(1,111)(1
-I-(,S 1'>". 1,'111),1)1111 .:11.111111
7-1-6
ti i')sS :,(m(i,1111(1 i.40
.0l)t
5-i-t+') 1`)\')-t.:1111,1)111) \'(Liiiiti
5-1-(rt) I•i.,l) :,11(II).111)() `)ill),IilIIi
10-1-71) I')')u I.l!nn.t!nn n-u,nntt
11)-1-71) logo I.int,nnii 1 ,(I"Ii,Illt(i
1(1-1-7(1 1t)')11 z,tlli(i.IHlli '.II-1(1,111111
I11-1- O I`1')'i-,IUI(i,(1(111 ;.;.iiriilii
2- 1 1 l'+` 2 ;Jul i,uui) , _ 7I II )_t 1i 111
2-1-71 I')')! 1 `(llt,lillli 1.1ii(1,Idit1
9-1.71 I')'ii _'•n!ili,niili 1.-150,(tuti
'1.1-71 it)t)i 3.Oiii).0Ili) z•li'`•Illll)
6-1-72 I')')' 1•lllt),(Ill(1 \-tl,llO(I
6-1-72 1')t)` S.1111(I,IHIIt .tllO,(Ilt(1
6-1-71 I'(r,: 1. 7(((I,I H (1 1 .1(1,1)t )i )
6-1-7' i' 1•III)0.011i) '„i(d1,11(I(1
6-1-72 It0)1 I1(10,0l(t 1,1VI1•(10(1
IO-I- ' 199- 2A,3-;I(.I)i!ti 't,It',l),illli)
4-1- 1•)`I( ',(il!liutli, I.hi-i-illlli)
9-1--1 1' 1.1(0.),(01) t,.t-0.thill
1.) It)'): 1,IIritof)(1 .s.4(0)10.1
1-1-75 I'iSo fs'.0m),)H)l) -1.-sllll,llttl)
1-I- i9t)", S.111111,t111!) '(1.01111
-I--5 1`)6 ,1,(11(tl,(11)t) _'.-li!I,III)II
11.1-1-75 it)')S 5.111)(1,(H)O-1,6-15,(11)0
I11-1-7 l')`); 1.(IO0,0iIO 1.n9u,(i111)
-1-77 ;nu- 1 ?,tll)O,(titi 1 t.(11)(I,Iili(1
;-1-77 I',,. 3.i ini i,(H H r ;.i ii ii it iun
,-i l')')7 rs,(ll((l,lttlli-,1)litl,(11111
3-1-77 Iy') 1 1•III111,(IIIII 1.'11Huitit)
71-7 7 1997 _',11O(I,0l)0 ',II(111•(1Otl
1 ',1.0 .(I011
O '1'fiT \\DI\(; I2F 1 FM r 1\I) SPECIAL ()BIM, I lug IUO\IS
Svptcmbtr MI. 1 t)17
5pcti,tl (IMi_itiutt Itnnd I,.u,
Itcrenuc Rand I.•uc
InLincratut Rect.nuc
l'tilitie. Scrc ICc 1 ,t\ times ,\
Orange Iiuccl ti1u;:1,11 Ohllz.ttnon
Or.tttt c Boyd \\;1rehou,c ILc:\enuc
(lratp4c Iitrccl \\ ireli ui"c Re\cnttc
( )(I Strccl I',1r1 nts ILc enuc
Scrlt:' \ II
ticric," (
I final ‘(tlutrnt
Is ti I Ilt(IHantline.
I,t, 1 t t 111.1111(i 67S.1)t1(1
'-I-(ri I'), 3.1'5,11(10 1,650.000
1.0n11.011) (1111)
1I1,,()1111 61.1)0(1
I,lv`I "5 lRil1 'O(()till
1-I.06 1`,`).1 4, 1)(1(min ;.1911,(NIO
1-I•-I 'oft' .1.0.t)tl(1 1.1'5.0tlO
Stims5.001
"Si( f
(,1•:\1:R 1I ORLIt, 1I iO\ li()\DI1) 1)1 111
I'RI\('11'11. ,111) I\ I I:RI S I \1' it Ill 1 11',
1 nrltial It 1 1 l'I'nn•nl
Iofal I'rincillal Inrcrr.t
'tieptentlwr '11, 1
113%lmnl 1 utnnnl
kctrcatinn:ll (,r'r, t Innlntinn I)iunor k'%
I:1t-i1i(i1. Intintraull (uucr \l;trin:r
. 1LW. `ll! V • '(d1,,(in ♦ r ,,,II, 1^' + .1 lgl(1
I•vllhll,"• 9.,4.,II11111 th{ IMd, l' 't, hull
14.'1'I.1(1' `7.'111(NUJ 1,1 vI, III/HI, 1 IN11! ••u101
1.1.116 0,-: ,I,;liItlnn 1.rf.'i,' "unnt 1t,tt, 1111,1 '"4 111114
1 i "t, It, 1 41 ',1J (NNI i ` it, ,I 11: ,NIII '11 'd1^ 1441'i , I11111
1'II'ft 01` •. 1'M1;1 4 11 f,1' 144 111111 ,11114 ,1t,11 O
1 i.l"ul- `.111111141 • 4 , • 1:1- 1." (401 Mal unit
1i11 - _ ,Inn " !1`1.1.1, - I! ,/• ;,111
111,11N ;' .,1111111 .11•1 , ' 1 A(„
5..(((,,1i, (A` `Ih111 ,1')1 1 .14((1 ,,,1 ',API iB,l,
hl :i111 r,.1:^ Ik111 ( _..1( 1,{t, nI1f6111 • r11111
,'1111"•111 .1h11!411i 1il '3.:0:1
'.hyI,J., 4 W1,11.111111 411 .j.`
IINIJ1' 1, In,-1h 1 •:: I11 !,,
1'''/'_4: -1114.•1 , ,i. fN111
1'19 3.91 ( c\\..'h ; 1 •" ' i(I 11 1 `'h
('t'1.l.4. 1..0,,4`t, •! ^.414111
14147..Itf4 .il' 1114\- Itiltt
I,Wt. v" ',-11 +1 - , .III, ,,,( D1i
.1
\1',.v`;,:I1 .'_ . 1 'MHI .1' •1It, ;I"• ", ,'ItiN to
1 i.c:11
'cat`
1
It' Innllnn
:1nt' It ('1 tt'at i,nl •••tI.1( Attu '.'11111ar1
1t•gnl.ilinu I .1t lilil. I )1.111.al ''e141r.
1`.10111 1 14 41,11) V -•11111110 . - 11,44.•11114
r 11111t'tt, II11 •'111 0Y1,1
tt ,N11' INlil a 1.1 ;,r!rt ,�II' ,XIt;
^.11,111 .., III 14u1 11,1,'4111
i i!III 111011 ,,, , • 'Ott I01(1
1�II, , 11,1,1 1ki,i
•
tit!, Ittott
_IhII{
4.11I 011 441,1.n .1 '414 ,411,
f.i_:•. 1111,4
'11 (4,l,
',tl11111:(
IRII,
*October I to September 30.
"form 1h:'l111:n l'1,1it,.
1t'l((f 1. In1111.1(1nn1 ►I1•adltnaricr.
\ 1431110111 \ ... 44411, . t I11,1
, 11:1'
1,411110
1, 4'",
N.1.1.':}u OHO '1 1 1 I 1 11'111 v tr,t 4.11.
titI„
I irrfiuliti,,
1.acililic.
\ h11NU1
1111 1 N 111
.3l(l 1N111
11`)NNI
14" 111111
3111111111
11 ",1Nul
11,,tll1l
1'I(/NH)
.1'11111111
, � Ilfhl
1-,.0111
1'11111111
1;(1,111N1
'Id 1.1101
'1tt1111111
'1,11,111(I 1
"(4111141
'!,i'' 11111
1'ullnlinu
( nnn'l1
I'lllllll' I':Ir 1,
K kccrc:uinn
I aciliii,•.
11, tt
".- 1 1' III 1: 1
'N1,11111111111 A'11.111111117 57.:,r, 111.111)11
•
11 1 I- !tin I( 11I-S %NI) ( 1%1 (IIII I(' 111()N. MINDS
I\ II Ill SI %ND \ I 111 Min 4,
l'arlsittu I
k 11
,-suptetIlbur 11), 1977
()ratiL1t, 1,1 `1,‘‘ 'IA i )1,11uali,111 hit int rAtot
l'rlilt ip.11 Ititt It -.( 1.,t II Pt f1iop.11 Ifirt-r(.r legal
SI411,11,o ,-..,.1 ' - • , - . .,•r- t , t' ', '7 -12'
01, •., ,I1,1 HI :III,
1" iiiiii l'i ••' ! ', .1,.I
,1010 i -. :I! :.',., ,.. III , — 11,1 '. 4,s t, "0 4,,
I,- tqut
:‘,- .1q1, S.": q ',.,11,, rs.,1 tt,u ,:-.1:1.(1••
I 4,
Uvlt./tile'NI it •
I ttlitit • 14% limit)._
(1 rani.- Ittos 1k% art•liot.t.
It el VII UV Bond.
Ilitt•rt•I I Ial Print iival hilt rc•I 1 'Oil l'Illuiiiiill Iliturt•I 111101 Principal Intero,I luta)
..... . _
.. it1,10 . . .- . :.-- .... ,..,: z7.,... . -11.1,,i, :: ,,,, ,.. -:,2 .1,,,, $ 1olui ', it.,--0 $,
.37 ,.'-, _ ,_ Immt. ', :.•:' !..'7..-7-, ',mitt', ., i-,:,... 2t,.01111 l''.',..,' 14.• t•
zh;t1•ii '"',• ,I•11 H, ,,11,1 ; : ;:' H2.12'. 4+, 't" ' 1. -4 ‘ '.!‘):: 11: .7/.11111) 14.20.7 1,•:f12
i'-'t .2..` 'Ai 0" ' . , . ...:1- 2t 'ill ...--2
.7;1111;1 7-..olii, itliiilt, l".,q2‘ I•ti,r:_•4 ,,,,,o, 1‘,..',(,...` :..r. nip' 11.212 10.212
,'• ..,-(t :•-, \ -.(1 i(),(00 •, 'i, ::---, 1.0).:2; •-•,,.;),1(1 29.lo 9,4,." 1,....1,-
Hp..-: pf ::',...--,(1 H),Iot, ',r.9-',::' 1-9 -:. •;111iti,. :-7 -:'.' I -2 -:.` j$,.11,1,1 - ,115
l3 1.... 4111101) 1- '1' --4 1-.0011 r, ,/22 2 1.`J22
:-- 1,31 i•-•-tudi iros 22.- 1'122' '11.1)(lik f .• 11,: -•-ii ; - (ito) •,. • i - ::.,...i-
....i , :, :-...1 : -.., '0,(10., i," ,.`• 1 •,-H2., -;),loi, i,- 1,111 1,., nun .1 •!An :: r.,01
:!).11111 l',0,1:` 1' 1- 1Sil II.11, i '''•'''''i :101011 1.44'; : ;.34`
{, N(II) 2-', ,s1/1I -211p111) 1 h4.02 1 ...4,,12-, '1.1101 2.112 2'.112
44.,..111 -,I) lt,:.‘:'^
14:\f) 7 -3,0 1 It, i .'...` i -.6.12'
2 ZAgtil ' ,7,1111 2:-.11111 1•,1.• 1•4;.,,:;
:o1.-•11 40,01/11 I ••. ;:.• 19,..i.:Y,
,:,}7-,• ,itlii 1-,.,1.7.: .:,,,,I 9:4
I,p 4f,.1.140
0)" i:'; .2--
t-11,11110 Orl'
‘3.19i1,111111 S1.4,11.",)(1 1f4,(1\
tol ^:11
!it' s' t."'r s"01`,q0 SI 11_04 Sz-N.,,,J
sr vitINILVt O1 1)IRI:(I As!) (A I N 1ItI'I\(. DI lit
September 311. 1977
`:1111 t•
\et 11t•1l'
(.its trf
I)at1c(
Consolidated tiLhultl I)i',trlt.l _0-
S.10s,(0)-1.s7a
"Net t)eht I i iure. ;ire as of tiehtenther t(i. i')?-.
*'PerLentage ;ipplIL:ahle 111 ( 11I' i)atle ( ,NIIt \ JI`t1 1,It,tt l
\ ain:it111r1.
I'rrccnl:l_v
�pplirahlt to ( it .hart•
itt • .111)(111
11111 (11I' ti ('. l,1)I1s.,11OII
(I. -11-
ti l `'.hht)•.1. 1
i,rt1 11`I .IaE1Uary
180\I)' 11 I ll(►ItI/.1'.I) lit I \()I I I)
I he SS I,-175.110H0 'muds .tuthurvetl And ,11�1 t11',ec1 h Ih
in hart and the amounts 01 such htlntl' ti!U'' ie,1 ,Ile .Is 1.'1i 1`` •.
':Itlir:llt 't rI11 IIII (Irn r
tirtta r, -••'cr, tllc III,
\who! i/cti
I'r'e\ illtt.l\ Issued .
\ tit hilrvetl but 1'nu,ttctl
: 7;,(1(111,INIII 10.000.000
_(1- _(1-
i'll•
1t1,111111.[111O
-1.17 ,111t11
1, I')'? assesret1
1 l'1'u heron lister[ ha\e heen issued
Tulin I it
4I .i;I 1 i�ht- I'nllutiutl
.111.1111.1, illg ( 1Ir1U111
f i'111,I IU11 � _ . I i ll i,l ll u l `•••••.1/111/.IIIIII
11 , .1 !11-i it ll l -I. 111 I,11O11 t,l ll ll l,l ll if l
-01110)00
I he'.`'.,.11(111.(1(11) '.'nd .ullh,111/et1 .fnd ;i1Trl"•ed h\ I IC illtel> on ti.'t4ut11her �`, 197f1 herein 11,1e11 ,tntl the
tnhiluuill' 01 slid( bonds IIIII'11ICt1 are as 1111111'
\ 111h11r1/et1 ..
I'retltlti>I\
Proposed Issue
:Atlthlirl/et1 hut 1 Ilt•,�".i
`.Illiim% 111c
til t%1 i• 1 It:Itli11_
S:,.1111111100 's111111111.1111(1
jiin•=•011,; ,:1111111
1 (11111 t1111)
4 ilil(1.(II(I
I't Ill I( I'111h \\I) RI ( RI 1 I1O\ 11 1 1( 11 1111 ` BONDS
At an cicct111n held on \larch I-1. I`1-2 :hi. qualified elet.tlln' aphro,s.,i `1'e issuance n1 j19,`t11I,1111(I 11t Public
Park untl Reercational I',Ii ilitie, litlnil, 1 h, ,e I;;,nti, Mere cah•11:1:e11 1 . iuent t , the lour( tll Dade
Count‘. Florida till \1a\ 2 111-2. I he Itit!ern. nt .1111rt11e(1 h\ tit•- ( 111.11' 01 the State 01 1 Morita on
(tetuher 31. 1()-2.
•
1110It,u•1\ I.•ul•1i
l'r11p ei1 I,•ce ........
\uthtlri/et1 but l ['issuer{
11(11 SIN( 11(1\1)S
the voters of 1tianii ‘)tell filvurahIs (20,731) for. I'L (tS ,!,last i. !!) the March t). 1976 election for the
authorization of S25,001000 (it•neral OhjIt.latnin I lousing flights 1he brill!, were vandatetl on I-ehruary 17.
1977 and ‘\ ill he sold from nine to time a. !iii\d, are needed I he h,nn1 alone\ is to he used as additional
security for Dade County re\t:nne i'nhhi 'i, ;: i!lt, plinth,
\uthorl/etl
i're\ tol!.I\ Issued
Proposed Issue
\uthori/ed hub ! r!„ueti
I ( ()\O\Il( 1 1( IOUs
the tollottine Itltor nn:ilion n i data tl" t,'CIf1;I!' 1),t;h: ( ..;,'y Ali,. l''_',Int 111 Inllieiilllie! factors vvhigh
siih,Ianthil1\ atlect, the ( II\ t,i \i;;nn 1)\ ! ,,..01 1)1 !1, ,1,M,:, !, the !i' C,l tllllittil(laill\ in i)ade Count, and
it, etnii etel\ urban eharattel
the I9'0 census i'i)1'iit ti,tii ,il \il;tllll Na, ) t1,ti59. repre,l'ilt!nn t, j of the total population I\ir i)ade
Count\
(:u\ernnu`nt of I)ade ( mint\
he I It+rill, 1 et'i,l hire ;tli! ro:etl and,uhnlitteil to ,i general cleLtion. a (on,titution;li .\nlend-
Iitent dc,i Ilei1 ti' :21, e :I Ile‘‘ t 'rill of C,,,,el niilt!It tit the ( •„till!I ),i k I he \111C!!tllnen( \1a' Illllr,t\ell ill a
,t,Itt' \lnle ;'e11t .II eliill \ i\:r:`er ,?! I)�!i \ Ii,ide ("t; "\ +. li,+;Irtl \+ .•In,111111et1 and in
\i1I'11, It)` It t,tl''ll'lcleil ,I titan Or ,i el!,ittet lilt file ( i1uuk I l!;` 141'1`i• t ;LIltt'I ..,1, .It1o111e'l1 I;l a ciiunt>
cleilt,in ill \1,1\ ,tl it)`-. and hei;tnie eilucii e till .111I\ _'l1, li)� I he !hell.'!, tt1 Dade ( ollill\ ;ire erantt'tl
1 'i,n\el to re Ise and amend the tll,!I!C! t!.0: t time t.t tittle 11\ ,.owl!.\-'•l It!e 'i ltitie It, at,1t:1)iliirl the Charter
ha.Ileen .inie!ltl:ti !, .t)r,;, 1'1(12• ,')(,' Itit,1,. It)r . li)tttt ,'titit It ! ,,\. II,+'lte R Hie,t!h!e.t otll\ to
the 1111111,1tli n. lit it'; I Ittr!di ( 1‘I1,Iitlit10:1 ,Hitt (telier,ii li,ilc I aN, 1i I,, ill elteet. ,I Illlilllcl(?;lllt\ \k11I1
t!ti\erntite!1t,ll rok\cI-, etil'tf+\c t11,0a the iNellt`, ,C\C'!t till:, In the ( gilt'(\ 1 r the intlilitti-ltttr;lted area. it has
not ill,(tl;tiel{ ,tl rej`I,I•-Ct! ll!C -ill h!i' ,III,('lCltierl(, tneftt I he ( .c II, el l\!!llilllar ae1111tie, ill
titOre! :tll,tn, 1 I 1 it the it )+t't,+tt ii'! ittn trot ,tan!ldartl,
the eltli,enl tt1 the t;i0v ri!,il„ it,tiiy ,+! r i' itv
Since ( i.;llll\ (hit t'!,t!!n:':,' -' 1 ' `.1+`, •tli .1( ,lull!\-Akith:
,erAice hash, i''I' ., lt!Ii'ter i'! iU!?:fi l!n! ( ttutit: v' t' 1U;1IC1;t;',',tllie 111C t11lIlllill1;11
(1t)ilit' ,tr)tel', \t it ltit1 Ili: !'t':'i!t ;l` !It',. '-kith till. et at, ',ii ( !!tile lC!•,rlli.li ton ( C!lle'r I11
\'1:UhIIn0itn, 1).( ,!n t 11C 1 In)tlti,t ( rli!:c i!t1,0r111,1it011 i. e!" !Ill ,\,tell' • . ,: 1)rittectii!Il, eiuti-
plementlnl! the mum...qv! t e j'I •tell:, i', eitlies \c;_ t'I. _`I,!t a !'Jlll!e, .l.lt1 t`r,'t!tll!1 Itll1 ,et\ice fire
protection for se\entcen I)ititik-1!',t ;i!t,'A}'!i.h 1.:1\e lth the ( titllit\ , lire
department: con,olld;ttetl t\\ti-tic! .. ,'• ,!cal eti(11t,tlTlinl lit the , :rt tit \riiile \ ,+t the I h+ritl;l
�tatule, \\Melt henilik rffeetl\t' ,u) I•!1 !1,I'i ! i')'.1: tre!li,tn \l:antl I);ttle \\,tier and Setker
;\tit lr'I(1 l\Ilh the re,111)I),Ih;lll\ Ittr 00.60111,ng ;Mid 011el itlll) a ( ,+tll•.' _ ,'e \k,ller and ,C\ker ,\steld !tullei
a single It id ei111111ii,ed tit ,c\ell IllcitthCI, aI1i)t)lnlrtl h\ the Iii`arti t,t t !'!Ill; ( IIi11ntissi inch,. etti,ritinat(tin
(tithe \.iri,ill, „lrt,sCC !I,. il,l` i; I•It ii.l l'., And e\t•"t i! L' 1 I :: I : t'. 'lc: ell j)"!tilt , 1 ,t unwed
i t ,+hill\ ( ,,;111111„I,tit ,ti' 1,11\Ili
rapid transit ,\ stein. il,l lil.l!'1111 'tl ;1 tett(i,ll llallii tt•litr,tl
tritttic management. !ntctcillc 01 .tli puhlic (r;1T1•ptirt;ittt''.n ,l,ielli, Ihti1 ' t'
to\icah, %kithltt the (!hill(\• ci;et!i':_ ,t>nihlne,! 1tl)hlle ithrJr\
'Ankh hill t,ttilt)Utetl/e the
writ\ ,\ stein: ref ulalion ill ,ill
( t , tint\ anti eighteen
nlltrtletlntlllle,. tt!t:eh tt(1e'r'ate, the til,!it) 1,11)r;tt\, ,e'lenleell htand)e .!' .! .,ith;le .!!;!, ,et ",lilt 1o:1\ •Ihill
( turn!\ -\Mlle locations: !entrap/atlon tt1 the proper!\ appraiser ;ttidl 1.!,. ,_iilleel,�; Huh l!o! s: turlil,hin`e (Lila
to tilunicipalities. Hoard of I'uhlic Instruction ;Ind ,etcr;tl ,late aeetlele, for the purpose t,i turdt'ct prepara-
tion and for their respeell\e Lt) erlliilental (peraltitus; collection h\ ille i), ;;, (,'Ulll`. 1,1\ (title l it tit all
"SUPPORTIVE
DOCUMENTS
,TS
FOLLOW
di8tribution ti% the restie,:ti‘e pokerntrient,i1 entitie, tc,i4kiint2 ki their re.pet.tt‘e ta le\ te:
and prok..rihm,„! minimum ,i,.,„ert,11,1e mforted the tio,IH ,it ContmiNsioners and
enfor,...cahle throti:flo;:t c ,I,intk in .in.h r3prnLnt in,iien. huilding anti
hun,tqc \+eitare
I he 1 8+ emus twure, tor l'!"9 ;Ho the \+ kinu lwr. kear,119.',.11!h•Igc h-lmilkes II
54 \Ictriirolitan Role ( :" I -I 1111:e11Hrt: "lied '.11.1te's II1t Put -
cent ol popuiatton .inti met e‘,..eol, the 1.„01,,I.,t; x.cr iL,c 1)%
‘t!).. (.1-tottp
5-9
10-14
15-19
20-'4
_10.34
z5.10
40-44
4R-49
"0 '4
(m.64
70.-4
-)5 and
tq;l1
I ottrimn
(;Rol sis 4.1 \ 1 4)1. 141 1. 1,01,1 L vi ioN
tillcd •••
\ It il,titttlitAtt
I IA(.. 1 \
IN
fr),N
'_it-
; .4
8.9
8.1
7 (I
(1.0
5.6
5
to,
(%
5 5
5.1
4 1)
4 (1
I out 1‘1,1 ,ittd ittc,t Ito ttLt t.tHt.. III 1111rittt.,111t '• I Ile
- the,ttie.. inphon
oftlieNtta,. 'Arnowenlei t,hhel "1,1ir10.
Ni1C, Ond Linti ati,;t s;it," too numerous to
detail - hi \Lon' „i to(tri,t \halm ,11,0 ot the tosei onion ,:enter,in the
I tilted State,
ihtsinc.,.. and Itulti..tr%
Dade t. ,iiht%in ft.'kelll ha, ht.',011n shut troin ,t tout i•t..,iicroc,1 econoin‘ to ;in econoin‘
uieI III‘CI•11101 1:1/4MI01111k: oast.. Industr‘ and manillacturin.! ,ire .CC., on the e,:o(1ornie -ent:
1),ide ilc ,1,1;;; , 1 1,.,1,1 ,Ht:t;t2 t IcItt.1111, ;he iIlr
L•eonorni,.. te•klent...ii Nkilied • -.e!,,..tion ttie .fte tor
.11111 \Mailer light Ind -1.t1 rtil (1)(IHNIII :C :I !III C1..4101 t.'it,lIt,W11:
Dade oiint‘. in ,R.11.iition :he tontiq eapital. kik')le._.:1'11.11 01 II/I ha\ MO
than t‘k• P.1.1'1\ eftiplli‘C(i dn\ itIIIC: Itt
the hIIiiiit;i111.1 1211(.'s the Jul!, 31. 19"- estimated empItt ment in titgrieliltural ey,tabliNhinent,itt
Dade ‘nitit‘. 1 iorida I hesc l'igures are compared \Nall the k..orre:pond',1! I,ptire. tor Sertembet 311. 197(1.
1975. 19-4 and 197.1.
i:5 I l�1 \ I i I) 1 \II'l O1 \I1.\ I I\ ♦o\ \(;RR 1 f t I( \I I `+I \/4L`-i4
11 \Jl1 ('()t \ 11 . I I ORMI► \
('rcpamd I \ the 'tat,, Ilt I Inritla 1)cp;+rinicnt nt (,n um, t in t turper:+lir+n
ttith the 1 •`'. Iiurc;lu (If (Allot -t:+ti,tit,
1 'l)1n.11„ I I „ I:rl I Mid"\ "u nl ,l„tl:
lit, ''.., pit in!.• r ."`,ph Milt r tit -111 M �cllh +Ohcr
\Iltjur Indic Iiir, I VI-- 1't"n Iv I't-i 1973
IQt -\1 `N-(,.Illt) -1,', ,t,,) ,.. [ nlul (t11M,31111 61)(,R1)11
\1 \\l l \( I t (2(\O ;r,•,�lul t,u,l ,a,,(II, )I.t)Un '15•_'11n
Our';1hle(ii,irll, l4.(IIO �.l,hl!vt :' ;1111 ill(Ill
1 Ilrllitllte t. I i\titre, • 3,(1111 r,lkl, 3.111111 1,SOII (3i.:7")
)I1f1
titn1Ic. ( I,t\ & (11,1„ I'r,tr111t1, `•(,11(I _ { IU, Ilfl 1.1n11 illn
1:11)rIi.11Ct1 \1r1;11 I'r,,t1u�1, .... ....-.•llll) n hilt ',�1111 `,•t)O(1 I11,111(I
\1;1LI11tler\ I'1 . . ... 11),4(1(1 )OII ti,lttlil \(I(i '•.+11(I
I1.m-1,j,0n:100n 1 tluipment +,t)(I(I 2,•00 a00 d,j110 t,t)(II)
()tiler I)ur;thIc ( '�1, --(1,- t)_�ItO " 1 )11 �,yOO t),h(NI
\untiur,ti�leOttttti, �I.'Utl `11,i,�+, `U, ('I) A` !on �1.5uU
1 thtrl tl kindred I'i tlu,t• h.(00 It., 'JIM 7.1(1(1 (OII
\(lji;rfe) ,� ()tiler 1 i \UIC 1'rtttlut'1, ... 1\.(tol) 1 •'.11tlll ' j,�li(1 ",111)11 ``,'llll
1'rintan.' ,� I'uhli,hlnc (.')OO (;•�(l() (,,Mill �.IOI) ',SIIU
Other AttntlUr,lhlc(nurtl, . (I- lS. l)tl I?.hill Ih.�110 16,?(1(1
( O\ I R \(1 I O\ I Il I (.1 I+ )\ 1.1(ut ' l.ODU 3?, tr)ti 1',r)OO-14•sl)u
tit\\ d'OIt1 \111l\
( ()\1 \I \ I' \ 11()\ 1') Hi I(
1 111 1111 ti ... 5S.'t)(1 5-.3111) :`.IOU 57.8(1(1 6',.100
,,,,tl ,\. Interurh.in I',1,\encer
1 r,tll,tt I.7(11) I.`111) '.lull ',`I)1) 2.1111)
Ir(Lhinc,\ \\.Irehnu,uie h.1110 h.ill)) (,3011 (0(111 (.(,(10
Air 1 r,ln,1,tlt;lh„l; ... '`•`110 0li1 . l.(11111 '.3,n(in 311,0110
()diet 1 r,ln,l,,,rt.ttl,trl 11--- -. 10(1 t,,4(11) (.'Intl 11,:;(11)
( tt11111111111,.ttl,tn,,k: 1'11h11•: I Hine... . 1(.300 1(t.'1111 1-.1111) 17.9(11) I ,=11(1
I It \I)I 1_('.• 1tli 1.1",(1IIt( .,'dill 1-;•1.•11)n 1,1. 1111
\\ 11,,ic,,11C (I.f& 1`.•11)I) i;'(i .-lii. .4.4.5(1O 41.91)1)
Ilet.ul 1 I,l,!e 1113.2(I() 1-. hill Ii)'),t)OI) 1U9•,:tl(1
lilti. \l;ttcrl,tl\,t 1.u1;1
quwmcnt
(i,nt:l,lj \1ercll,ult •L.
1 ttutl tittttt.',
\utttntuUt e I )e.tlei . tier, Iet.•
tit.t t j, ni, 12.410 11.500 1 I . sUO 12.7011 1 3. 300
\hlt;lrei & \,.,'c,,,,t_. lt,,l,.., 7..`O11 -.10(! ,.11111 7.S11(1 N.3110
Furniture. Home I Ilrtll,tllll!\
1 I )rinklit:' l'!..,L.
\li,,c11.ulrt,u, ket.n! N ,le\.
1 I\ \\( 1. I\tii It \\(l .\
Itf.\I f tit \Il
3.`OII '.VUIt a,`nt) -l.t11(1)
`Il•"(ill 2tt_9011 it to '4,1(Itt _'3.301)
j6.60tl Ih, itti !.......tot 1(t.'(11) 1(,(00
2(+.7(10 '5.6UI; .',.--ttn _'t.(O(I '-,t)(10
11.100 11.i011 i 1.St10 1'•1)01) 11.211u
-14.100 13.510 4Z.600 .17,0011
(( untinue(I)
s:
, nry I
ir- � 1 1 r T', V E
�'-) ) I v1 C.
FOLL OW ''))
;�
SI RVI(1 `1& \1I``;(1 1 1 \\l c)I
I Itltel> & Other I racing I'i Les
Personal ;rrt Iee
\ltttittn 1'ieture,
\tilll�'tllerlt t\. Ite,,re.itltt"1
\let11t:,11 tl ()ther I Ic.11th tier'.
Other Sre\ & \lI`erlLineuu
ndust rie
(IO\I Il\\lI \I .. .
(I 1 \II Industrie, ire t.las,i(ied ar::,trdmt
Misted to hrs., tlu.lrier It)-c 't:•ttthl'1'.,iri. ie\t.'k
(21 Includes both ri::etrli.+l and "'i eie,tt •_ ,' et\
11111 '-.1.J;llt
1-2.01
k \i111
1111)
"•3 41 11)
44,'(111
-1 3,t)11()
6',O(11)
to theStandard Industrial ( la..itieatinn \I;Inuul, It)tt \II data ;Ire ad-
t he t\\C111\ largest t1rl\ale CI1'.!`i
I astern \Ir I 'tic,
Southern {iel'' I rlet'hone l
Florida I'ttt.\er t\ I , Ifu t
National VI I Inc (
linrdine�
I
ti011111e,H; li,t"1,Int l .,rt)
Fut,d I air Store,
1Clter,tin Stott.
I) lnt \it I I•'e`
\Ii,tnu I Iet.ilti ........ .
Ii1:reer hlrti' .....
I'ai` \nit" Ie;iii \!" I ine.
(11.lrld 1 !non `0.0res
\„o.ttel. I ,.
( ;tulle! I
:Wiling to the ettr!tr' i ^It\ i?i\ t(t\'„ •:1t't-1 CL 'IiitlliC h,H . iti11(11 !1` the It'.•,Ilrttri Ittr tll;ltt\ national
and II1ternatitin;ll tittine 1tti,rnes» tit I ;ttin \ 11ntait' thew ;tie e•.tr'1,ttr'atitltls ;h 1)0rit � hentll;ll.
Gill ()II (ttrlt , O1\en,-( tt:-ill'ie I itit'r,': (,•!I' Miler:t',In Ilt1sj`rt;l1 SLtp"'i:'. ( oett-( ttla lntei,itllettc.trl
and Ocyan ( her111eals, lil:.. .I siih»lill,ti\
()they rl.tllt,nJl firths ?t•1'ttll l`1.:''Ittil!':tl I.':et' ,Itl.,n,ti ,'l t'r.l(I•t11. „tl, ': i `, ittttr il: Dade (aunt\ are \ltt!a
International. Ltd . \'_I•. ( 1'e' i 1 (. lit:. Int trl:;;. 1)\t-t 1 tet r ..I! II,"
\Lin% lit Irrtern,ltitur;tl. \1u1 c.- 1 \Il I i' Int I';,;,, I awl 1' _ I ><I,ttr. ,Ind l tilted I tort.
r
11
F
Financial Institutions
There .ire 11,inks loc,ited in I ),itie ( 'mut\ \kith ,i 101.11 oi .et ioti.tiint,(100in depomts.
\itruttcr
Sear Mott,.
1060 Ao
1065. (13
1070
1071
1072
19-1 t
19-4
1(175
197n
*12 IttontiP...1,
.11111e
1)etttarill Deposits and lank Debits
( 011111`. 1110 e,1,111g :1 • ...! Financial inc., tot the 1 ruled 'states. resulting 'nun
the locAtion ol northern alid 1,,ink. in the ( .iiwt it (fink in
1 ( ( \I ( ,Int1 • lir ( ;1‘, tr,111,,2
( , Vq1,1 c:111 1 • I \\l 1 ,110,,ftwk Hic 1 LI • L'S‘,slet»11,IN hrnd
office ( ,,unt‘ 1.4) ,t,•1,1 the \11,1;L, oHice \kith 11;1,114:1,11 ;he !‘“,tith 1 hii, re,t
inank.h re,coed iiwji t,ou, ou 1111\ 1. lc;
littildint; Permits
t \ timid ItAtIt t miith
1131 (IOW
_ —
I 97 I 146,1' :9
1971
1(174 !,(
)9'75 bl 4114
1976
*12 months aN 01 .1 ill l.1977
11,1k1C ,•161% ,i1e, t11.12 011), 0!: 1`:11‘;‘,..1: , and ;.011e le\
( olleges drn.1 1iicdted %kithin the dre d .ire
\1iditit-1).rde (
1 lorn1.1 Intern.itional t ni‘erstt‘
( ollege
Itiss.t\ ( llee
29
MR175§7ggrIll 1111111 pril 11
0
Mchnt I 1 nrnlimcnt
Public School ti\stcnl
19-1
19-.1 '44.frc5
19'5 241.141
1976
1977 1,;
\lcdical Facilities
ihere are 4' hospitals located in i)title ( ount\'
‘ericulturc
\ \ILnilicanl Factor or the ceononl\ oI I)J+le ( ,+nlit\ is its agriciilitir:' i`it+tltn„!t?li. I)atll• ( trllnt\ leads Florida
In the production oI Illlle�. ,t\oc;ulos. illali_'+t .Itoe, and pole ',eons i 't !..: !I market 1 he !Milli Jimate
crt11» to he 1:rtl\(!1 ;1111t lilt\c>tili ti!Iflili' t!CI 'l'')?lths. and the I {+i:!i f+t'.1f1 Ilene t:,lnnot Ili ern
else\\here in the countr• \iore tl),in 111U nl!ih,'ll dollar, o ,t !r :!i;!,!. rit„iu,t' are protlul•el1 ,ulnu.tll\. and the
tot;il retail ‘able or these protill:ts esti!11,152+l (1t,11,1r, ,ire
generated each \car in the marketing ;tnt1 li+•tri1 utlon of these It 1:,t' been e'tim ttetl th,lt Farmers
Purchase Lootds and ser\ Ill's III l'\iC ttt `!1 +iil !t!Il Boll;lt .
12cercalimi
l'he \li,imare,: 1 I.il?i +tl 1,+! It s:t! iat', sleep -ea I1 i':illi!'i: lip 1 \erCl,!de, \,Itton;tl I',irk.
\thlellcti tot' the sret'!Ilt,tt1! eHtll' ltf, il;tl i ,ot,tio,lll. l{.' ill and lia,ketoall 1/4:olllllel111ttn.
1 iu el'it\ eonlpetltioll i!i -spot ts. OI, ,till 1 t,w,11,ti1'ent, , .. !Illti„n-I :IrIIC'.
here ;Ire t\\ellt\ rui`Ile and eight pr!\;ite L''ll Wur,,C` in I)atle (+twn%
lller'e are 'l)^ rubht part.' and pIa\teround' \\itli t total +t1 •411�
Vliscellanentr.
7itt.ffit7,9t,t1t4:4t"tti,!tt'e.,1,1',1,,a.Y1V.t...17!.M14.M.,4.,19t0...immrteetwo
(;120‘1 1 11 1. ALI ORS NEL-it'll\ 1-1 10 I) \ 1)1. (Ill NT1 . 1.1.1)1211).A
%
r___ ......_. . .
\ timber ( sm,itimitimt h %\ t 1
(tt Minton,. of ‘,1)1(1
1 can iieterk (;:il.. ,111111.,,
19.7)0 50.ft i ` 1S.(1.:
1957 /0.29 20.290 2.3 1,. lil .
1u6U St‘.91, ::,:.• ...t...1 .'. -..1:.i Li •
191,5 tr2.t.'.- 51.311' 5 12' .5.5
I 9t,6 i4.5 It, ..1t-,u5"- .;.f,t..i','.
lutIS 07.17(t 50,i2- .15'..1,31
1q6o u!,. I so stiu-t .....1
19-1 104.22 I 5t,.1,--: 101
172 11.15.161. Att.:5,, 11.2
1973 I
1974 120.93h 69,020 ; 2.162.021
1975 122.'00 t'').417 1 2 ..1 1 6.”6.1
Ikru, 126.f•op -,T.1-If 1 2..1s,".60( ,
107-* 1:ziono 0,71,, 12.,01.7oi,
*12 month, oi June 30. 1u7"
Ft V ( RI( 111
( t.mmcrcial
(
I
:1 (WI
4 .tt
•,(,.(i
51.314
55.700
7.0111',
II I P11(1\i S
tinittur \ tutor Pom
(Ifficr
itr uut,t ration RetTi pt.
5.677.1173
• -.0t, u.sto..ft,t(•
12.1111.',25
Salo 1
0111'114in%
HOW% t
S 12.763
22.62:
32.61(
.11.66t,
.042
692.0)-
914.70;
110.241
1411.22-
15.5.(tol
2 :IA
S.147
214.1-1
Source ()I Statistical Data: Miami -Metro Puhlicity & Tounsin
Lcononne Soeiet‘ of South Horitia
A
(()\-11\(;F:ti"1 1.1.1Hi1.f
i'entiin Legal 1'rout'edin<p4.
The (.I11 is the condemnor lit certain eminent domain pf„Ceedine. to acquire hind for park purposes.
(General obligation bt'nd. \\ere \wed h\ the citi,C'ri. of Miami and issued h\ the (lt\ in a "Parks for People —
Bond issue to pio%i(ic (tends to acquire these lands for part•, purposes a11(1 tor the cttrlstruction of parks
thereon. \tonics usid for such acquisition and construction it'me either [row the "Parks for People" 13onci
Fund, state or ieder.tl grants. or softie Other >tltirCe 4)1 thin n:llhre.
\1 ith re•t,ect (t` t:ertarll tort actions for \ hllh the (-it 111;1\ ha\e lt;thiiitl (he ( fi\ 111;tlrltlin. a ,llldymcnt
and Loss I find 1lyy i,'il,t\\ill!' I llle e•sltl'i.11el! rltir'L'Crtt I irt• II•i''I+Ii\
/ftachc'r Y (tit of .t%lUIu; case has been In litigation since Pr( I and ill\ol\es art un-
unitorml\ pa‘ increase given to the Sanitation i)epartnlent. \t this time the estimated
liahiht\ is
1 he case is presentl\ on appeal
Rotor t ( ill r f ,t%;t!'7ir 1 his i;lse itin.e t\111 of ;1n automobile Accident Mitt a poke (Chicle.
The e.timareli h,ihiin a 4(10.000.(10
There are present l\ 1(17 claims pending int oft rng \ arious t\ pe. of automobile accidents. in-
cluding Sanitation I)ep;trtrllent and fire I)epartnlent etluiptllent. 1ileestimated li,lhiilt\ is 550.000.00
1 he ( il\ is also ;: ram \-tjete;n1;fnl in numerous other tor; ,cases Gil\t,l\Ili!' polite el'
11at'l111\; iliiltlenl II: nari.,s. on .itlett;tlks. .211\ hlnitinu ': \\it'ngtiii refusal to Issue eer-
t:llcale• tit uiilln;t(li\ atlei tt•C' h\ Inc tleensinL' (1111aon. (l;tlllfie' to boats o11 Lit 1 tl\lned
marinas. et(., lilt: iota; general hainllt\ in these cases is estimated ,it75.000.00
S 350.000.00
•I i,\l SI..;75.000,00
In the opinion of the (-it \ •\borne\. there ;ire no cases in litigation currenll\ ollt.tantilni` affecting the
F3oncis other than those a!lo\e. all of \\ hick ri;i\e Peen carried in the (;eneral Fund at:counts and frill\ acerued.
Risk �lanai:cnlent
It beagle apparent through past e\perlence that fne,l•tlre. had to he taken to halt the spiraling costs of
insuranet: ;iremiums. •\ .Carte: :intendment ttas suiee•stillt\ \itie(1 on i\\ tile electorate in lt' : I •Vtt..1 tor.
4.hs_ ;'g,llnst i. fili,tt(irie the (. it\ It, •el tic' ;: Sell-In.i r;tnee find ii'.su ;111cc i rust Fund. I ne ( it‘ (''rninisVon
created. nt orli!';;tole. •. Board of i r(1siee• composed of. the Cu\ \l;lnager. the I)Ireetor of Finance and the
Irlstirailie \1.i nteer 1, handle the •eiurit\ Ifi\Csin-lents of the tllnd Also created is a Self -Insurance Colima -
lee. api'utnted t'\ the < it\ Manager. to administer the plan.
l nC' ( It\ is sell' Irishrfed for ;ill .ells :i r1 'oil !
i,,. aciltil l�. 1 cr 1+ .� a1 li I ier? .e. 1 fall i(it\ up to *50.1100
per a:,;(1C'ilt .tell: ottiirren:C' tr ;t..+'flt;lii \\)t.-, l long.: Statutes.Section r(L. _s, N,ti\It11!
st1\C';l''grl Illliailt-:11\ Ir t,.•',
r\ll other Il;tniht\ anti •jig':i;lei\ e\posures are LoterLC1 IP. outside insurance
1 1\ lIXF.\11't IO\
In (tic '.rpinlotl o,' Ijofltl (oilll>C�. Intetc,1 t"'. lne CI4,0.111"010 c\Isting statutes is e\elllpt
troll' ;lei present Peder,t' Illiollie ,;1 \r. .
1:1\1\("11!. S'1 \111\11 \lS
1-he financial .l;dements or the (it', of \liafiir set forth IT: \;'nendl\ '\ lt, tills Oliiel;ii St;itetlient have
been C\ill?l!(ICd t1\ Pea;. \l::r lc „ \ilie el ct (t ,. Iritlecnilen: certified p,i('n accountants. tor the periods
and to the emery, •!;lied in their report
"SUPPORTIVE
DOCUMENTS
FOLLOW„
( OSt\(; (•1':1(1 It 1( 1 I i'.
Certificate of (it. 11anaucr and 1-in:Ince
iiirector ( nnccrninu' ()Iry i;11 tillrtetncnt
( Itneurrently „• i1,, ‘.I1 lI-lc h i ( itnt_I ,I (I!_�,I!'t'.1 i{•'ll�i�. !l?c (itv vlanaucr and the
t)irectt,r ttl I III,IIIeC';'•ill f iI I!'Cif . _. C ' '1'e el ict', that. it, t' e !'t'`t ''1 their knoit.ledi-'e. the ( )I11elal
i,t tl t. t 't t11C It tl�. �i�t ,t 'ttl tl,'e` not Ct'ilil!tl an untrueStatement. :1, �tl its d 11e 1 !tt .tom � ` "' � „+, writ `tat.,. .1 t ,Ilt t 1.11 ' 1,:f �t ! tt.t,i Hs'1!1\t!ILi C11 lhl'tl'lll It'r the purpose
statement „( ,+ nlattl i-tl t,+ _t ' � .,,
lift \\hleh the (1111�1. !tit ttrn:rn; 1, t�' (', u,e
1 111,11 'le.l.,,,Il\ • ,tLe the ,IIICiI?Cili, ittnt,tined
therein. in the IIe'ht tit the tfrtr!ti.t.lniC` �`
119'1“\ \I O1 I I (, \I f't O( 1 1 1)1\(,`
Certain lee;tl Mattel, Illeit!e 1 1. '.tie .i!!t.i 'r
the ;ihrru\ al tt( 1irti\, n. \\ ,'t'd. 1., t . \I
opinion \\ ill be al all,l!'le ii' the 11t1t1C1 L'• I'.' et „ :, ,l t'
Bonds and \\ill he printed on tiie �j (.nttl,l'll, lit,ittl.
\Ilti( 1 1.1.1\I-Ot
•\Ii\ ,t;ltCIllCili, 111 till, ( )!li. IA ltatenieni ,'11 1'1 e,t'•tll,lle,. Nhether or not e\-
llre„t\ ,ti ,tilted, lire intended a, anti !lt't It, reitrC ;!Il;t!I ' ! la.t \" lepieseillatlttll 1, Illade th;it an\
01 the statement, \\li1 he Icah/ed
Iletcrellee, herein to the ( ( II\ ( hatter. iiitllil,tli:es and alit\ Inlet out_
t l Certain 1'i!1\ I,I I '1 .I: i lit' : `'i i`i1rrt'ri t1 Ntli1111):1' I,": t,'` 'te ;!li 1`rt,l i,l0.1, tlleret'l
tt":C I Iil.itlle )e1\,Irilllellt
e1tt11l'IeleIle„ Or AC-
1 tle' 1111t!r111J(lt';i t,lil!Cd I11 .,tits ( �latC!11C�11 h,!` i`.'t'll
Irtlill t ltici l and tither sopries dee111etl it' he I'Ctl:II le. and \hilt' nt!!
e irae'. is believed to he rttrre,' .1. „i .,this ({site
I he e\Celltittll 1 this OIhftial 1l t'.:l1e 1t has heel., lll\
is1.1 1Lti thin I;iinii,ate ,uhieet ttt
t t'ftii,et. \\h,."t.' teeal
„t the defiler`,I4.11att,Ul111
it e (
II!tlll"I'�II ,,, the ( it tt1
1 11,1!111. 1•1t't'1lt;t
to `ti \t 1(1(1 \ 1 1 1(1(1
It., •t
"S�tPP.'DTJ'fE
DOCUMENTS
u1L -
� o \w l?
Y y�
•
•
APPENDIX A
CITY OF "I A'" i. • r' 7
Financial Statements
Year enr:et.' September 20, ':97€
Table of Content:
Part 2 - Financial Statements
Accountants' Report
Combined Balance a _et - All Funds a! - .ount ups
Combined Statement of ..-: rue-,, Expenditures, ansfers
and Operations - ...1 Funds Excluding p ,dg eta: Funds
and Trust. and Ai :: Funds
General Fund - Statement of Revenues, Expenditures,
Encumbrances and 'raps{ er' - Budget and ,1 'tual
Special. Revenue F'ir:''S •- L'tit_ ._:it C1.` 'V;?lt.t' penditures
Encumbrances and . I a? s t e : - budget u,!
Federal Revenue S`.lar_!n Fund - S'_ .tement o: ennes
,
!:xpend i t'..r-e , c:nr.u.. ...lnrt . a:r: . .:ns ers nd
Actual.
Trust and Agency Funds - Statement Ui P.eve:1!1f_:-, t: tdttures
and '_ ransfers
Combined_ Statement of .;:age, in Fund Balances, Ct:r;::clbuti!d
rap ttil .i;.. Earnings ning - All
Enterprise T'unu'• - `;f flit 1( Clt o: Cbarlge`>
Position
Notes to Financial. S'.:ttiitents
Part TI - Suppl.ementar, Schedules
Special Revenue. ...- , .
Combining a , i.ine `i'leet
Combining t...._,lt Revenues, Expenditures,
Encumbrances and .:*i rt-; t`rs - Budget and Actual
Co^:b biro` Sttement o' Changes ln hind
Debt Service Funds:
Combining Balance Sheet
Combining Statement o: Revenues, Expenditures, Transfers
and Changes in Fungi'. Balances
la
CITY OF MIAMI, FLOPTDA
Financial Statements
Table of ,:ontents Cont.
Intragovernm(.ntal Service Funds:
Combining Balance Shect
Combining StItement of OpiAtions
Combining Statement of C.langes in
Capital and Retained Farnings
C,ontributed
Enterprise Funds:
Combining Balance Sheet
Combining Statement of f.)perations
Combining Statement of Changes in Contributed
Capital and Retainefi un
General (.0J1Igatmn Fund;
Combining Baianoe Sheet
Combining SAatfrment of Revenues, Expenditure
and 'r;infers
Combining Statemen if Chnnge in Fnnd Bajan..es
Combined Statement of Long-Ter7, :)ebt Payab3e
111-1
111-2
IV-1
IV-2
IV-3
V-1
V-2
V-3
VI
Trust and AgenLy Funds:
Combining t' mci t VII -1
Composition o: rfnr,. Accounts' Balcince VII -2
-FIVE
66C, Lip, r:
I \! TS
[7-UL1`
L Vv"
*MOtLV-iNli
„VT 1?\VIcl: II CH V. r.i. Cc)
(iEtt-t-it 1-1.1) punt ,k(-( ():
tpo)
\ f j() it i t it it
The Honorable Members
of the City Commission
City of Miami, Florida:
We have examined the financial statements of the funds and account
groups of the of 1:17,rda for the -;eai endSeptember 30, 1976
as listed under the exhibits inthe accoml,anyin table of contents. Our
examination was made in accordance with generally accepted auditing stand-
ards, and accordingly inolipiee ,ach tests of the d:.-:ounting records and
such other auditing proeedure as we considere' necessary in the circum-
stances.
The Department of Ctf Street Parking and the Downtown Development Authori-
ty are autonomous units of the L:ty of Miami, Florida. The financial state-
ments of thee it ':car «Jna:ci 30, 1.976, whi(:h are
examined '7 0! cerLH:e(.1
im the accompanyinv, !inancial ::iLaLements.
As described more fully r note 1 to the financial 'atements, the City
does not provie d,rr.cI an prc,pery, pThrit_ an euipmunt ot the
Enterprise and intragovernmental Service Funds as recuired by generally
accepted accounting principles.
In our opinion, exiiept tor ihe ef"'ect on the 'ilinncial statements of the
failure to pruvld..2 p:-orty, plant ant'. t.q:uipment of the
Enterprise an2 '-Hrvice in the preceding
paragrah, te . f.i7-!.y the fi-
nancial position of the an! a at Septemter 30,
1976 and the re,iu7t..., of Qpe:-al.Hns o h. Jnd the chanes in financial
position of th:., Enterpris, or the yca, f:.eta ended, in culformity with
generally accepted accounting prrciples et; a basis ccnsistent with
that of the preceding yea: after .iving reLruactive .ftect to the change,
with which we concur, ffom the mueffied accrual of accounting to the
full accrual basis of a-icountin for the Enterpr, :11:! intragovernitental
Service Funds as explaind in nr:,Le 3 to the 'inan itatements. Supple-
mentary ..lata to the
same auditing pros2e,:.ures and, in our opinion, tne ette,.:t ot the
failure to recognize depreciation in the Enterprise ari Intragovernmental
Service Funds, are stated In ull materia1 respecLs considered
in conjunction with :he financial tatements taker
January 29, 1977
74-/
age Ltft:t ink
"SUPPORTIVE
DOCUMENTS
Assets and (Sher Debits
Gt>h mote 1 )
Investments. at cost, which approxi-
rn:nri, m:u ket 1 mite 1 1 .. ........ .
Receivable,:
1.t\es te...aav able delinquent 'less
all( for estimated tInC01-
Iv,1 !'t n1;;onnts of . , `toll, t4111
Iutete.t .,n.1 1oin.,111e, tc•.en'ahlc on
li„ Allowance tor esti-
mate,! un:olli:uhle Amounts of
(,encta! ALL -mint, !eielc:I1,1e
A„es,ntcni liens receivable
x.: t ur,l Income . .
(11hei
Irl%tub a:v.,. At cost 1 nO1e
Pruyet ri. pl.ln! :Ind equipment
note 11:
t .,rot
Nutl,luu , ... • . .
I' : u,c::.ql, n!her than building,
tit i. h.nei an.1 : i:upnteul
,\moron' ,,v.ul.th!c tor retirement of
bonds:
(ienen,l obligation
Special unhgatlon
Amount to he provided to retirement
of bonds:
General obligation
Special obligation ....
Due limn other funds 1 note 1)
Other ..
General
Fund
S. 11'1,894
2.500.111111
1.2-13.922
7,174
S5,035.173
CITY OF 11l:ANII. FLORIDA
Combined Balance Sheet —All Funds and :Account Groups
September 30. 1976
Special Revenue Funds
Special Federal
'ras Revenue
Levy tih:;ring
7'1 Sol I ; I.686
795,io•11
Intrt-
1)eht governmental Trust and
Service Service Agency
F Is Fundy Funds
-1.121) 119.826 196
1 .3011,5 . 1 55.000 112.550
5.15.643 --- —
71,529
14.573
20,898
3.329
7.777 1.511.689
279.623
Capital Projects Fund
General Special
Obligation Obligation
Enterprise Capital Capital
Funds Projects Improvements
512.085 196. , 7'_ 2.083
93,517
150.110
1,8211,10`I
21,1 0'_. 42'
75 4.95-i
-12.9.;72 5.0 (1,57l,
; 2.467
.142.291
609,523 441.717 9,762,589 1,130,685 — 126,000 1.185,308 2,980,0(10
12,363
—
2.131.328 7.992.354 11.749,885 9.956,794 3,624,435 24,563.201 45.216.210 8.855.135 145.038,945 110.662.000
General
Fixed
Assets
12.719.650
14,9115.787
I0,193.712
7,019, rot:
Exhibit A
General
Long -Term
Debt
;,920.71 1
1,285,889
95,259,21.19
5,196,111
inn uiln q ir',11Pip,lot''vope,ITFITP111!1111V4lt'If!'I'rjr1 ritt111!P1,19911IIII OiIIiIIPI^Ilt14711l11PIRllMllliP+9ii,111711111I'ili 11
1!,11,11!11i11i'
11111
Li
di
„MOTICA
S1N A nao(J
3Atlaocidns„
CITY OF NII.A111. FLORIDA
Combined Balance Sheet —All Fund+ and :Account Croups
Capital Projects Fund
Exhibit A
Special Rcvenne Funds Infra- General Special
Special Federal Debt governmental -trust and Obligation Obligation General General
General Tau Res eime Service Service Agency Enterprise Capital Capital Fixed Long -Perm
Liabilities _F 1 y— LevSharing Funds Funds Funds Funds Projects Improvements Assets Debt
A..l tted It.1h111tie', l princlp.tlly
sal-5 88-i•158 12.524 1'. ?+IS-3.?hrl - ?h.hi9 '_'.r•8;t ---
atlC, 1
Account, p.i able — S I.t u4 11 .193 Z.;_'v,) 2_;04.1 0-1
.\..unnt. p:t.ahle :Ind encumbrance.
tart.t.tntling ( note 1) 1.3'7.I 13 259.1)52 1 •h')5.171
Ueletred n:rnnir . - 1.445.191 ___
1a, .,n 1,..1,'non note. p.oahle. in.41(I,11(i0 —
clu,ltn,, ;ntere,t 1 note 71
Res emir hind, pat able t note h 1 . —
--- 285,1)01) --
1)ei',,,1t. rrluntlahle .. -- --- -- 174.553 ..... _ _ --
90.3111) 3.2_ 2_20.321 204.550 8.0511.107 2! )h2,701)
Doe to ,,;hut fund. toile I 1 ... .. {.714!)82 5)2,8l.I 2-
187,5011 —
305.000 _-.. _..
Loins p,1,.lhle t note 9 1 .. ___
(,en,•ra! ONo: n on bonds paeablr 25.01111 1114,18t1,000"
t not: t, 1
Spc.1.11 ohlie.ition burnt, pa,tblc — — T_ 6.482,(100
i„t.,l 11.11i11U1e, i h04,14i 864.437 I.711,.9v6-135,11111) "31.26•1 i 428.I67 84'.551 141 ;cnsin) 2'In2.7Ut1' 110.hh_.t1110
Fraud 8alante, Contributed Capital
and Retained Earnings
— i4"5(, — 3-1.85'1.311
I un.I h.tlan.e. appnlpliated —'
at 57i)721 1.266.891 6?8h.368 5,8 )_.7. —
I un,htl.tn.e, rdch.rtl-
un.tp':t,,nled 196268
( matihurcd cap11:11 and t't.ncd earn 5110,Ot10 d)•72i'
n-
ine.... aI I
no,r1.11cd -, — —
( onulhuted .apical and retuned earn 8,725.530 — 23,710,927 — _'
inc+ unappropriated _ — 145.018,945
1rnc•tmcnt in general ti\cd assets . . .
$3.015.173 2.131.328 794)2.354 11.749.885 9,956.794 3,624.435 24,563,21)1 45.2Ih.210 8.855.43i 145,038.945 110,662,000`
See accompanying notes to financial statements.
nm v v•ruinluie rltMiiiI!tPPOm.E,,64.'t 71 19t1"R t111'1l i�Iill@4�RIlIi�1�9 P!I '���t�Aiii�l����l��li�i� 111I' "1 t
rl
i191%
IIIIl�i�,��lll!'I
CITY OF MIA`I., FLORIDA
Cotbined Statement of Revenues, Expen-lits-es, Transfers and Operations All Funds Excluding Rndg• tarn Fund, and Trust and Artnc v Funds
Year ended Septc•r:'or 30, 197h
Revenues and other sources:
Sales of bonds
General property taxes
Franchise and utilities service taxes
Revenue from operations
Assessment liens collections
Interest
Total revenues
Transfers from other funds
Total revenue,. and transfer:;
Expenses and expenditures:
Bond principal
Bond interest
Tax anti<:ipation notes, including interest
Operating expenses
Administrative charges
Capital projects expenditures
Fiscal agents fees
Total expenses and expenditures
Transfers to other funds
Total exrenses, ex,>rnd tires and
transfers
Net income (loss)
Excess (deficiency) of revenues and transfers
over expenditures and transfers
See accompanying notes to financial staterents.
Debt tntragovernrcntal
Service Service Enterprise
• Fundo i,nd; Funds
$ 8,064,787
13,555,775
72,993
42 7, 689
305,431
22,426,675
-3,139,231
25,565,906
xntbit B
Capital Prolects Funds
General. Special
Obligation Obligation
Capital Capital .
Pro eels Im rovements
7,000,000
3,352,084
116,281
6,274,257 1,044,462 _9,954,930 3,589j282
7,197,000
5,650,183 -
420,000 - - -
- 6,457,127 2,805,961 -
105,000 - - - 55,000
- - 21,937,175 190,600
9 400 —- --.-_- -._. _ -. _-----
13,781,583 6,457,327 2,805,961 21,937,175 245,600
12,401,465 - - _2�937,568 17�500
26 181,048 6,457,127 2,805,961 24,874,743 _263,100
_i183,Q7Q) 218,501
(14,9)9 813) 1 326AQ2
E*hibit C
CITY OF MIAMI, FLORIDA
General Fund
Statement of Revenues, Expenditures, Encumbrances and Transfers
Budget and Actual
Year ended September 30, 1976
Revenues:
Taxes:
.General property taxes
Penalties and interest on delinquent taxes
Business and excise taxes
Licenses and permits:
Business licenses and permits
Construction permits
Intergovernmental
Federal grants
State grants
Other
revenue:
Inteagovernmental revenue (note 1):
Engineering services
Legal, financial and other
Charges for services:
Public safety
Recreation
Other
Miscellaneous revenues:
Interest
Rents
Other
Total revenues
Transfers from other funds
Total revenues and transfers
Expenditures and encumbrances:
General Luvernment:
Mayor and Commission
City Manager
City Clerk
Management Services
Finance
Budget
$ 19,031,184
60,000
.593,500
19,684,684
2,993,100
803,500
3,796,600
Actual
19,428,843
183,941
674,248
20,287,032
3,000,369
879,587
3,879,956
871,304
13,190,000 11,919,764
1,717,455 2,023,740.
14,907,455 14,814,808
1,077,000
375,503
1,452,503
367,500
197,720
137,500
702,720
1,200,000
225,296
464,000
1,889,296
42,433,258
22,210,864
1,256,720
325,940
1,582,660
410,834
90,321
56,436
557,591
993,965
238,262
726,525
1,958,752
43,080,799
22,697,400
64,644,122 65,778,199
204,316
546,413
112,093
387,748
1.102,252
198,067
566,102
127,985
310,279
1,032,874
(Continued)
Exhibit C, Cont.
OTT? OF MIAMI, FLORIDA
General Fund
Statement of Revenues, Expenditures, Encumbrances and Transfers
Budget and Actual
Legal
Employee services
Civil service
City hall operations
City physician
Elections
Public improvements:
Public works
Building
Planning and zoning
Public safety:
Police
Fire
Communications
Sanitation
Parks and recreation
Other:
Special programs
Alterations and improvements
Special community programs
Salary adjustments
Miscellaneous
Total expenditures and
encumbrances
Transfers to other funds
Total expenditures, encumbrances
and transfers
Deficiency of revenues and transfers
over expenditures, encumbrances
and transfers
See accompanying notes to financial statements.
Budget
643,471
1,471,675
326,893
146,799
146,994
85,895
5,174,549
3,955,834
1,260,462
439,127
5,655,423
20,001,410
13,246,849
1,628,996
34,877,255
10,477,104
4,001,752
81.7,000
267,599
160,011
2,362,300
3,931)808
7,538,718
Actual
596,332
2,001,701
329,026
173,322
132,731
67,938
5,536,357
4,089,950
1,152,292
435,401
5,677,643
18,759,930
13,132,421
1,699,808
33,592,159
10,400,131
4,117,516
631,674
90,755
151,91.2
2,549,209
4,376,981
7,800,531
67,724,801 67,124,337
184 ,1 62
184,162
67,908,963 67,308,499
$ 3.2 4,B 1
"SUPPORTIVE
DOCUMENTS
42 FOLLOW"
1.530,300
irt
f
Lxhibi D
CITY OF MIAMI, FLORIDA
Special Revenue Funds
8tetetnent of Revenues, Expenditures, Encumbrances and Transfers
B/I•l ,«.t and 1rtun'.
Year ended September 30, 1976
Revenues:
General property taxes
Metro Dade County publicity contribution
Other
Total revenues
Expenditures and encumbrances:
Pension expense (note 5)
Publicity and tourism
Street lighting
Other
Total expenditures and encumbrances
Transfers to other funds
Total expenditures, encumbrances and
transfers
Deficiency of revenues over expendi-
tures, encumbrances and trans tars
See accompanying notes to financial statements.
43
Budget
S 10,476,789
4.40,000
32 9' 1
L , .
10,948,789
8,383,798
1,228,005
1.,832,659
415,201
11,859,663
693
Actual
10,702,793
440,400
37,733
11,180,926
8,383,798
1,288,725
1,380,178
357 26
11,409,970
693
11,860,356 11,410,663
$ 911,567
"SUPPORTIVE
Q00UM
FOLn
rOViEN TS
229473.7
•
CITY OF MIAMI, FLORIDA
Federal Revenue Sharing Fund
Statettent of Revenues, Expenditures, Encumbrances and Transfers
!:udget and Actuia1.
Year ended September 30, 1976
Exhibit t
Revenues:
Revenue sharing entitlements
Interest and other
Total revenues
Transfers from other funds
Total revenues and transfers
Expenditures and encumbrances:
Public safety
Special programs
Recreation
Sanitation
Financial management system
Comprehensive master plan
Total expenditures and en-
cumbrances
Transfers to other funds
Total expenditures, encumbrances
and transfers
Excess (deficiency) of revenues
and transfers over expenditures,
encumbrances and transfers
Budget(A)
2,673,409
1,750,929
743,271
1.56,771
269,435
333,070
5,926,885
5,663,430
11,590,315
Actual
8,740,746
511,939
9,252,685
7,046,645
16,299,330
2,660,869
1,738,988
760,374
156,910
280,511
330,070
5,927,722
6,563,430
12,491,152
$ (11,590 315) 3.808.178
(A) The City's annual budget does not include revenues for this fund.
See accompanying notes to financial statements.
44
MF
El %WY
SM
N
CITY OF MIAMI, FLORIDA
Trust and Agency Fends
Statement of Revenues, Expenditures and Transfers
Year ended September 30, 1976
Revenues:
Comprehensive Employment and Training
Act grants
Community Development Bloc:: Grant
Other Federal, state and miscellaneous
grants
Total revenues
Expenditures:
Comprehensive Employment. and Training
Act grants
Community Development Block Grant
Other Federal, state and miscellaneous
grants
Total expenditures
Transfers to other funds
Total expenditures and transfers
Excess of •expenditures and
transfers over revenues
See accompanying notes to financial statements.
ExhibiE_.,'
5,904,687
866,216
1,357,320
8,128,223
5,903,910
863,475
1,398,107
8,165,492
10,187,926
18,353,418
$ 10.225.195
"SUPPORTIVE
DOCUMENTS
FOLLOW"
Exhibit G
CITY OF MIA1r, FLORIDA
Combined Statement of Changes in Fund Balances, Contributed Capital and Retained Earnings
All Funds
Year ended September 30, 1976
_Special Revenue Funds
Special Federal
General Tax Revenue
Fund Lev_ Sharing
Fund balances, October 1, 1975, as previously
reported $ 956,328 1,496,628 2,478,190
Contributed capital and retained earnings,
October 1, 1975, as previously reported
Restatements of beginning; fund balances and
contributed capital and retained earnings:
Change to full accrual basis of
accounting (note 3)
Unrecorded liabilities at September 30,
1975 (note 4)
Transfer of construction in progress
at September 30, 1975 to general
fixed assets (note µ)
Adjustment to fixed assets at
September 30, 1975 (note 4)
Contribution from general fund at
September 30, 1975 (note 4)
Liabilities misclassified as fund
balance (note 4)
Fund balances, October 1, 1975, as restated
Contributed capital and retained earnings,
October 1, 1975, as restated
Excess (deficiency) of revenues and trans-
fers over expenditures, encumbrances and
transfers
Net income (loss)
Transfer of fund balance to self insurance fund
Contributions (to) from other funds
Fund balances (deficit), September 30, 1976
Contributed capital and retained earnings,
September 30, 1976
See accompanying notes to financial statements.
46
Imo
956,328 1,496,628 2,478,190
(1,530,300) (229,737) 3,808,178
$ _j5731972) 1,266,891 6.286.368
Debt
Service
Fund
I.1,932,028
11,932,028
(617,142)
11,314,886
Intragovernmental
Service
Funds
8,145,174
8,488,899
(183,070)
919, 0_1
Trust and
Agency Funds
11., 079, 988
(158, 52.6)
10,921,462
(10,225,195)
(500,000)
196, 267
47
Enterprise
27,163,321
(3,208,011)
49,000
24,138,732
238,501
(656,583)
23 720,650
Capital Projects Funds
General
Obligation
Capital
Prp ects
84,655,735
(4,844,534)
Special
Obligation
Capital
Improvements_
5,016,729
(47,285)
(30,032,077) (2,402,891)
49,779,124 2,566,553
(14,919,813)
3,326,182
343859., 31 1 5,892,735
"SUPPORTIVE
CCUMENTS
FOLLOW"
tkhbif..H
CITY OF MIAMI, FLORIDA
Enterprise Funds
Statement of Changes in Financial Position
Year ended September 30, 1976
Funds provided:
Net income
Item not using funds - disposition of machinery and
equipment
Funds provided from operations
Sale of investments
Increase in amounts due to other funds
Decrease in cash
Funds used:
Retirement of revenue bonds
Increase in receivables
Decrease in accrued liabilities
Additions to property, plant and equipment
Contributions to other funds
Decrease in accounts payable and other liabilities
See accompanying notes to financial statements.
48
238,501.
192755
258,256
750,000
83,350
309,309
$ 1.400.9].5
16,000
58,636
47,653
616,214
656,583
5,829
$ 1.400.91.5
CITY OF MIAMI, FLORIDA
Notes to Financial. Statements
September 30, 1976
(1) Sutttnary of Significant Accounting Policies
The accounting policies of the City of Miami, Florida conform to generally
accepted accounting, principles as applicable to governmental units except
for the non-reconition of depreciation cn t;ie fixed assets of the Enter-
prise and '_ntrn ;overnmenta: 5,ervice funds. .he following is a summary of
the more significant of such policies:
Fund Accounting
The accounts of the City are organized on the basis of funds or groups of
accounts, each of which is considered to be a separate accounting entity.
The operations of each fund are accounted for by providing a separate set
of self -balancing accounts which comprise its assets, liabilities, fund
',,alance, revenue!, and expenditure. The various funds are grouped by
type i:: t` `_ _, ncia .“:ateme!.s (see note 2). The Department of Off -
Street Yar=.ins; and the Downtown Development Autority are autonomous
units of the City. The financial statements of these entities are not
included herein.
Basis of Accounting
The modified accrual basis of accounting, under w:lich expenditures, other
than interest on long -terra debt, are recorded when the liability is in-
curred and revenues arc roc rded when received in cash unless susceptible
to accru:_ . , , . ...;t.ra' ' e and ava_ la'. t;: finance the Ci.ty's operations,
or of a material amount and not receive-.: te nernal-time of receipt,
is followed for the budgetary ':unds (CerE -_. Special Revenue, and Debt
Service Funds). The accrual basis is utiii_zed (with minor exceptions) by
a.'_ other funds.
Encumbrances
Encumbrance accounting, under which purchase orders, contracts and other
commitments for the expenditure of funds are recorded in order to reserve
that portion of the applicable appropriation, is employed in the General
and Special Revenue Funds.
Investments
Investments are stated at cost, which approximates market, as indicated on
the respective balance sheets. 'nvestments consist of U.S. Government
obligations and time .2e:losft with commercial banks.
"SUPPORTIVE
DOCUMENTS
FOLLOW"
(Continued)
2
CITY OF MIAMI., FLORIDA
Notes to Financial Statements
Inventories
Inventories are priced at cost, on a first -in first -out basis. The
ventories recorded in the Intreeovernmentel fere!ce Fund consist prin-
cipally of expendable suppli,:s held fur internal consumption.
PrOpertv, Plant andLw
Property, plant and cetuipment the Enterri5e and :ntragovernmental Service
Funds is recorded at cost or, for donated assets, at fair market value at
time of donation.
The City does not provide depreciation on flroperty, plant and equipment in
the above mentioned funds as required by generally accepted accounting
principles. The amount of accumulated depreciation at September 30, 1976
and thu depreciation expense 'far the year then ended for these funds cannot
be reasonaly es!_rtec ot. th:, tjmQ.
General Fixe(! Assets
General fix.ef assets have 'efrl acquired for general .eovernmental purposes.
Assets are ro,' aH ex..-,enitnres tn c:eneral Fund, Capital
Projects inJi, etc. , and capitallzed at cot in LIW General Fixed Assets
Group of Aants. These aseet,, H:lrovemre,ts other than buildings,
such as roads, curbs and gutters, streets a:‘,1 and drainage and
lighting s7::,tems.
Donated asset:.; recded at :air market 1.t time nf receipt, except
for the 7 7t! rming Arts and the
Olympia r2,uilding. Thes,a prcpertiel, '.'ere recyed 3" the City as a gift
in duly of 1975. As of September 30, lj7e fee fair market value of these
properties hee not been dLtere:Ine, and thus had not been recorded.
No depreciation is provided on eneral fixed assets.
Pooled Cash and Interfend Accounts
To obtain fexi'..)ilty In Lath -f.n:Igerf:,:fnt, a ,clole.,1 :ad system is employed
by all fun,!s su:r.e resLricted :;.2 Cash Cash is provided to
user funds es needed through Joe to and due from accounts.
Allocation of Adminfstrattve
The General Fund incurs certain administrative expenses for other funds,
including accounting, legal and engineering service. An administrative
charge is levied against these funds to defray a lertion of these expenses.
(Continued)
U
11
3
CITY OF MIAMI , FLORIDA
Notes to Financial Statements
The General Fund also incurs certain costs of the Intragovernmental Service
Fund, including pension cost, social security and group insurance con=
tributions. These costs, approximating S400,000, are absorbed by the
General Fund.
(2) Description of Funds
General Fund
The General Fund is the general operating fund of the City. General tax
revenues and other receipts that are not allocated by law or contractual
agreement to some other fund are accounted for in this fund. From the
fund are paid the general operating expenses, the fixed charges and the
capital improvement costs that are not paid through other funds.
Special Revenue Funds
The Special Revenue Funds are utilized to account for revenues derived from
specific taxes or other earmarked revenue sources which are required by
law or regulation 'o finance particular functions or activities of govern-
ment.
Debt Service Funds
The Debt Service Funds are utilized to account for the payment of interest and
principal on the City's general '.ong-term debt.
Capital Pr ' ects Funds
The Capital Projects Funds are utilized to account for all resources used in
the acquisition and construction of capitaFacilities and other fixed
assets, with the exception of those that are financed by Enterprise or
Intragovernmental Service Fends and special assessments.
Enterprise Funds
The Enterprise Funds are utilized to finance and account for the acquisition,
operation and maintenance of governmental facilities and services that are
supported many by user charges to the general public.
Intragovernmental Service Funds
The Intragovernmental Service Funds are used to finance and account for certain
services and commodities furnished to other funds within the City.
51
lir•(iPPOf \ I Enued)
G.. CUM ENTS
(3)
4
CITY OF MIAMI, FLORIDA
Notes to Financial Statements
Trust and Agency Funds
The Trust and Agency Funds are utilized to account for monies and properties
received and held by the City in a trustee, custodial or agency capacity
for other entities, such as employees, other governments or nonpublic
organizations. These funds are used to r:ccouat for revenues and expendi-
tures relating to most Federal. an(! `'tote
General Fixed Assets Grotto of. Accounts
This group of accounts is established to account for all fixed assets of the
City, other than those accounted for in the Enterprise and Tntragovernmental
Service Funds.
General Long -Term Debt Group of Accounts
This group of accounts is established to account for long-term debt not
accounted for in Enterprise Funds.
Accounting Changes
Effective October 1, 1975, the: City changed its basis of accounting in the
Enterprise and Intragovernmenta'. Service Funds from the modified to the
full accrual basis, to conform with generally accepted accounting principles.
The effect of this change on retained earnings as of October 1, 1975 is re-
flected in the statements of the respective funds. The effect on the
operations of the prior year cannot be reaYcna1:'_; determined.
(4) Restatements
(a) Material unrecorded liabilities existed at September 30, 1975 due to a
misuse of facts relating to construction contracts accounted for in the
Capital Protect Funds. The amount of these liabilities has been re-
flected as an adjustment to fund balance at October 1, 1975. Beginning
fund balance has also been adjusted to reflect the transfer of construc-
tion in progress as of that date to the General Fixed Asset Group of
Accounts.
(b) The cost of certain property knovn as the Feinberg Tract was recorded
twice in the 1975 financial statements (see note 7). The correction has
been reflected in the Fpeoia_ Properties Fnterprise Fund as an adjust-
ment to beginning fund balance. Other ad;ustments to fixed assets at
September 30, 1975 have been reflected in the financial statements in
the same manner.
(Continued)
57
(5)
5
•CITY OF '•"_A'•'? , ?• :.0R 1>A
Notes to Financial Statements
(c) A transfer of funds made on September 30, 1975 from the General Fund to the
Marinas Enterprise Fund was only reflected at that date in the financial
statements of the General .Fund. "The correction has been reflected as
an adjustment to be inn'nr, retainer earnings of the Enterprise Fund.
(d) Certain lia':;illt:es existing, at Septe :er 3C, 1975 were misclassified as
fund balance. The correction .:ia:; ,.ected in the Trust and Agency
Funds :is an adjustment to fund
Retirement Plans
The City has contrfl utory pension plans cov ring substantially all employees.
Total pension expense for t:ie current- year, including amortization
of prior service costs over 35 year, :.1s approximately 58,500,000. 0f
this amount 58,3,c13,798 was funded by the Special Revenue Fund, and the re-
mainder by various; other .:rids principally Enterprise.
The actuarial_ comp'. teC value uf yeste.ir- andi. r the plans exceeded
the pen ion `rinds assets b'. appr.oximate..y :2,000 at January 1, 1976,
the date of the last valuation.
The pension: expense ':or tle year ended S.eptemher 30, 1976 and the .excess of
vested benefits over fund assets increased from the amounts (approximately
$7,500,..110 for pension expense ,nC :h'�,�.. !' )I" the excess of vested
benefits over fund assets! reflected at . . 30, 1975. These in-
creases were principally due to increases retirees' benefits, employee
salary .increases in exces of those anticipated, and recognition of realized
losses i.^..:urred on the sale of sccur. t. .._.
(6) Bonds Payable
(a) General ?long -Term Debt
General obligation sonds, 17; to 7 1/2%, maturing in
various :ears throe i 1997, current principal ma-
turities Oc approx..mate_. SS,375,000 bac'Ki'.0 by the
full faith and credit of the City and its '_-axing power.
Special obligation '.ponds 3 1./1(Y: to H i%' .,
maturing in various years through 1988, current
principal'. maturities of .ipprox_rately $1,0.b,000.
(b) Enterprise Funds
Revenue bonds, 6.5, maturingi in various years
through 1989, current principal maturities of
approximately Si f
�` ,�
"SUPPO,'` {t V
DOCUMENTS
$ 104,180 000
6.482,000
(Continued)
285.000
6
CITY OF MIAMI, FLOR: r?A
Notes to Financial Statements
(c) bebt Service Requirements
General Obligation Bonds
Debt service Is provided by an unlimited tax levy on non-exempt property
value and collections on assessment liens from projects financed by
the proceed or such bone'.:'.
pecial C`. lieation P.endT.
(1) Incinerator revenue bonds - Revenues from the operation of the incin-
erator are p ed ed to service these 5cnd.s. A reserve of $250,000
must •be maintained.
(2) Capital improvement bond - Debt service is provided by electric
franchise rtv•.:.ses the terms of the franchise agreement be-
tween the Cit • aye! .:C : _.•i _'over and 1, ght Company. A reserve equal
to the ma?:°r':'i::1 agerei;ate annual debt service requirement must be
maintained. Franchise revenues exceeding debt service and reserve
requirements area fort:Ier restricted to provide for debt service on
the Orange_. ; cese ;c�i.�:. e' lleation Bonds, :or bond redemption and
for capital improvements.
(3) Utilities service tax bonds - Debt service is provided by utilities
service taxes Imposed by the (. ty on each purchase of electricity,
gas, water and Lsell telephone and telegraph service. A reserve
must be :r.ainta!ne;'. eesa: te the max'.T un annual debt service require-
ment. .. : _ , eel-; _ tax reveneee exceeding debt service and
reserve req remeets can 1:e ueeu f r an: lawful purpose.
(4) Orange Bowl Special Obligation Bonds - Debt service is provided by
electric franchise revenues. A reserve equal to the maximum annual
debt service requirement :must be maintained.
Enterprise Revenue Bonds
Rental income for the lease of the warehouse facilities is pledged to
provide debt service on these bonds.
Land Transactions
At September 2.0, '974 the Inter -American Center Authority was indebted to
the City in the amount_ of 500, ^"0 for the original land sale of the
Graves Tract. The Aet.,ority had agreed to pay the amount of the indebted-
ness, tos'•_ther with 5'" anneal interest in equal semiannual installments
of $300,.e0 beginning January 1, 1977. In 1975 the Authority was dissolved.
Negotiations as to payment cf indebtedness are in process and the rights
of the various partiee the City have not been determined.
54
(Continued)
7
CITY OF MIA_MI, FLORIDA
Notes to Financial Statements
At September 30, 1976 Dade County was indebted to the City for approximately
$1,330,000 relating to the sale of the Dodge island site. Pursuant to
terms of the agreement, payments will commence after payment and cancella-
tion of the County's Seaport R. venue Bonds ::h!eh will currently mature in
2002.
The receivables relating to the a5ove tram--:c:. _.ns have not been recorded
due to the uncertainty o: t5eir co::.e_te.
In August 1975, the City purchased the Dallas Par-; !!i)tei and surrounding
land (known as t'. t Feinberg tract) for the purpose of constructing a con-
vention center. In the interim period, portions of the building are being
used for Cite offices and the remainder is operated as a hotel. The
operations of they hotel are accountec for in the Special Properties Enter-
prise Fund. The cost of the property is recorded in General Fixed Assets.
(8) Legal Compliance
(9)
Transactions not in Compliance with Le a= "rov!sione
During the current fiscal year the City issued $4e9,000 of tax anticipation
notes schedu_' ed to l:.a`.ure ticto')•'r I, 197,. :he City Charter, however,
requires these notes to mature within the year of issuance. These notes
were full.: paid on October 1, 3976.
During the year ended Septen°-eel: 39, 1975 $3,025,000 was transferred from
the Cap:t.i_ PrC)CCt5 Fete_, We'C-.re this amount was appropriated for the
convention center, te t::. anc: Ageeee ,. t....,:t approval by the
City Commission, _hie ,1^.:Cent wee ',:rani' ..'le General Fund in the
current fiscal year.
At September 30, 197e, certain expenditures for the General and Special
Revenue Funds exceede,: the air. ents on the revise, budget as shown in the
respective financial statements. 'these evertxpenditures, aggregating
$1, 608, 5'' 5 for the !:enerai Fund and S'30, ; 2.0 for the Spec i a • ''evenue Funds
were not approved 5y the Cite '.omisr_`.on. The fend balance of the Federal
Revenue Sharing Fund, ava :a'!:i.e for any perpoee upon commission approval,
is sufficient to cc ' r theee liver' xpend...,.: es alp- the General Fund deficit
existing at yeer end.
Commitments and Continaeneles
At December 31, 1976, the City had certain contingent liabilities for payment
of emn'oyee
governed by
liabilities
benefits. The amount of benefits earned and
Civil Service regulations and
are summarized below:
accumulated is
adR,inistrative policy.
These
DO e 1
l; � ` L•
�� F�; I��r ;�Il jN, Continued)
t✓v',
Type
Vacation
Earned time
Sick leave
8
CITY OF MIAMI, FLORIDA
Notes to Financial Stdtements
Description
Normal vacation earned
Additional time -off earned
by hourly employees for over-
time hours worked
$ 1,387,890
1,743,295
Normal. sick leave accumulated 9,552.051
The full amount of vacation and earned time, if not used by the employee, is
payable upon separation of service. Sick leave ,unable upon separation
is limited to a maximum of 960 'lours and is pa'.Hl only if the employee has
ten or more years of service.
Due to uncertainties relating to the timing and amount of payments to be made,
the above 1tahilities are not recorded.
Self Insurance Tut
In October of 1975 the City created a Self insurance Fund as part of the Intra-
governmental service Funds, o provide insurance against certain liability
risks. All re•:'enue-generating departments of the City are levied or charged
for 'insurance, which '. ecor.es revenue to the Self Insurance Fund. These charges
are not computed on an actuar: .: ::.1s and nc pro —en is made for possible
future 'losses. Fxeenditures cif the Self 'nsurance Yund consist of payments
of settlements, claims and prer.:`.u.a en insurance policies.
At present, the City does not carry umbrella eac
limit the Cityc s exposure in possible claims.
Litigation
liability coverage to
The City of Miami is defendant in a case alleging certain irregularities in
pay increases granted to certain City employees .in prior years. This case
has been in litigation for several nears. in the o7inion of the City Attorney,
the City will be liable fur $l?7,50U representing one year of back wages.
He is uncertain, however, as to :.hither the ,..sty w' ii i,t liable for back
wages d; t . D..._._ ;ears. ': ce S .87, 50J been recorded in the
General Fund at September 30, 1976.
The City is a defendant in a lawsuit arising from an automobile accident in-
volving a City employee which caused a fatality. This case is in the very
early stages of '.:`,1ation and the plaintiff has not vet made formal monetary
demands. In the opinion of City officials and the CLty Attorney, it is not
possible to estimate the final outcome of this litigation. The Sovereign
Immunity provision as prescribes by Florida Statutes may impose a liability
limit on this and similar claims.
56
(Continued)
CITY OF MTAMI, FLORIDA
EIRE
Notes to Financial Statements
There are also a number of claims and lawsuits against the City resulting
principally from personal_n'..ries incurred in City_ property. In the opinion
of the City officials and the itv Attorney, these claims will result in a
Liability to the City of a6pru}_irate,': ' . This amount, less approxi-
mately $245,0' O on deposit with an in-,urc,:,:.'e company in accordance with a
spread lob :nsur2: :e contract, was Ifs; "'.i':i in the Intragovernmental
Service Fund Se: -... uranc ' ..; I year ended September 30, 1976.
The City of `:ia::ii relies p: r':ari lv on their i t't+.,Il department acting under the
direction of the City A':L.?raey :or :egai advice. The foregoing opinions
are base_, solely on _h ..._on tit the Cfty A tornev.
(10) Transactions with _'.o_l Ltd Fdr_I^S
Revenues derived from the operations of the :•`.aurice Gusman Cultural Center
for the i'ertormint; Arts, the i'lvn:pia !iui'ding and certain other properties
owned b': the f.lity have `.:eon assigned to the r`enartment of Off -Street
Parking..
irq
"SUPPORTIVE
DOCUMENTS
F~
LL0W„
Assets
CITY OF dIAMI, FLORIDA
Spec1ai Tax Levy Funds
Combining Balance Sheet
September 30, 1976
Total
Schedule T-1
Publicity
and Street
Pension tourism lighting
Cash $ 713,801 587,996 . 10,958 114,847
Taxes receivable - delinquent (less
allowance for estimated un-
collectible amounts of $542,835) 795,641 666,205 57,031 72,405
Due from other funds 609,523 - 609,523
Other
Liabilities, Encumbrances
Outstanding; and Fund Balances
Accrued liabilities
Due to other funds
Accounts payable and encumbrances
outstanding
Fund balances (deficits)
12,369 - 12,363 -
$ 2,131„228 1,254,201 80,352 796,775
12,524
765 10,624 1,135
592,861 534,588 58,273
259,052
1,266,891
$ 2,131,928
1,188 53,539
717,660 (42,084)
19 `:.201 80352
204,325
591,315
796,775
nt ion ,1 I I I
• it 1 Ln".y.) T1 VE
.; LI ;
14.
HI II I9!!IIIIP! Ilnla!9111191e01RP!W!IRlRIE'
CITY OF
IAM1, FLoRIPA
Special lax Levy
Combining Statement of Revenu+ En,.umbranes and Transfers -
Budget ;t A,:tual
Revenues:
General property taxes
Metro Da,1e County publicity contribution
Other
Total revenues
Expero1ituros antl en,2u;Thrles:
Pension c
Publi,'ity am! t.eeH
Street liOlting
Othe/
Total exi'en,lit..:,res auu
Transfers to other
Total expendituree:., encumbrances
transfels
expelitureF2, encumbrances an
transfers =(914567) (229„737)
Total
Budget Actual
S 10,476,789 10,702,793
440,000 440,400
32,000 37,733
10,948 789 11 180 926
8,383,798 8,383,798
1,22,005 1,288,725
1,832,659 1,380,178
415,201 357 269
11,859,663 11,409,970
693 693
11 860 356 11 410 663
1111111 11'11 !I'll '1111111 111111111
Pension
Buck Ac t, z l_
8,614,476 8,800,868
3, 59f,
8,614,476 8,804464
8,383,798 8,383,798
415,201
357.269
8,798,999 8,741,067
8,798,999 8,741.,067
Publicity and
tourism
Budget Actual
584,322 597,539
440,000 440,400
32,000 33,137
Street
lighting
Budget Actual
1,277,991 1,304,386
1,000
1,056,322 1,071,076 1,277,991 1,305,386
1,228,005 1,288,7r,
1,228,005 1,288,725
693
693
1,228,698 1,289,418
1,832,659 1,380,178
1,832,659 1,380,178
1,832,659 1,380,178
_5,184 523) ___631397 _4172_,376) __(218.342) __1554_3.668) (74.792)
"SUPPORTIVE
OCU fil..N1 S
FOLLOW"
CITY OF MIAM.I, FLORIDA
Special Tax Levy Funds
Combining Statement of Changes in Fund Balance
Year ended September 30, 1976
Publicity
and Street
Total Pension tourism lighting
Fund balances, October 1, 1975 S 1,496,628 654,263 176,258 666,107
Excess (deficiency) of revenues
over expenditures, encumbrances
and transfers
Fund balances, September 30, 1976
(229,737) 63,397 (218,342) (74,792)
$ 1.266.891 717.660 (42,084) 591,315
fgroTri rrli urir1,vioviorli6RroiIiq'111iIPl61111011111Ing
Assets
Schedule Ii-1
CITY OF MIAMT, FLORIDA
Debt 3•rvice Fund:
Combining Balance Sheet
September 30, 1976
General Capi*11 Orange L'tilitiv.
obligation Improvement Bowl Incinerator se r.ir
Total bonds bonds bonds bonds tax h
Cash S 34,120 915 18,428 8,812 199 5,76+
Investments, at cost which approximates market 1,300,531 72d,855 348,949 230,72'
Receivables:
Delinquent taxes receivable (less allowance
for estimated uncollectible amounts of
$383,522) 545,645 545,645 -
Assessment liens receivable 71,529 71,529
Accrued income
14,573 3,553 5,721 - 5,299
Other
20,898 - - - 20,898 -
Due from other funds 9 762 589 9,154 989 - 229,600 378,0nn
Liabilities and Fund Balances
Tax anticipation notes payable, including
interest
General obligation bonds payable
Fund balances:
Appropriated
Unappropriated
Total fund balances
$11_,749 55 9477,3078 742-53._6- 30.482 250„6'77. 614,,7c?2
$ 410,000 410,000
25,000 25,000
2,342,256 417,3'7 690,918 363,482 250,697 619,792
8 972629 8,920,711 _51,918 - - -
11,314,885 9,338,078 742,836 363,482 250697 619,792
$111,749,885 9,,773,078 744836 4482 250.„697 619,792
5chrdule i1212
CITY OF `l1AMI, FLORIDA
Gorbining Statement of Revenues, Expendit uc,
and Oki in Far:'. ?,1�,,,
:-'• 1r.1, 1�
Revenues:
General property taxes
Interest
Assessment lien, collections
Revenue from operations
Franchise and utilities service tax
sni Capital Orange Utilities
,t : a ir•.cr, vcr.ent Bowl incinerator service
bdo bond bonds bonds tax bonds
8,064,787 R,:v..,,' 7 _ -
305,431 211,15. 47,324 22,865 - 23,892
427,689 42i,689 - - -
72,431 - - - 72,991 -
13,_555,7 :a ._.. - 599., 262 166_,1.19 __ - 12 790, '94
Total revenues 22,426,675 8,70i,926 646,586 188,984 72,991 12,814,286
Transfers fr t!, fi:..l- ;,11), S1 17,500 - 184,162
Total r•.3,.•de and transfe:s•' 25,»,5,4r6 ll,b'.!lt 66'.,OA6 1RA,984 257,155 12,814,286
Expenditures:
Rood principal
Bond interest
7,39;,00 s,41': 555,n00 110,000 147,000 150,000
5,8`03, 161 5,592,129 116,551 42,640 37,163 61,500
Fiscal ag,-nt-' fees 9,400 5,Q21 2,347 82 295 751
Administrative charges 105, 7'. 9::, 15,000 -
Tax anticipation notes, Including interest __ 420,000 4;,0,00 __ _____,_ _____ _
-
Tot: -al r:•.i., .:iit!:r' ., 11,781,56'i ,',: S,2 .2 688,898 172,722 184,458 212,253
Transfers to other funds 12,401,465 - 72,000 12,329 465
Total exper.ditotes and tran'=firs _ra,1S;,,7,4S 12,',23. 7:2 688,898 172,722 256,458 12,541,,i8
Excess (deficit-ncv) of revenues and transfers
over expenditures and transfers (617,142) (881,857) (24,812) 16,262. 697 272,568
1.1,933,02E 10,219,935 767,649 347L220 250,000 __ 347,224
S 11,1 ' ,F86 9,13h_,()'° 7..2,837 ).634482 2504.6,97 _ _.619,792
Fund balances, October 1, 1975
Fund balances, Septtr.ler 30, 1976
r
Assers
Cash
"SUPPORTIVE
DOCUMPAITS
FOLLOW"
(1 account
Accru(.d income
1:1:,•111
Pr , plant and CrIll 1:
r)try
and oluiprieut
Doe fr ot I:or fun I;
tJni1 it ies and
A: 4 (pr in. 'r .1 ty
A, c:,ont.: payal,le
Duo to other funds
C I, ims payable
Contributed capita 1 and retained earninv
(d,f i,iency) - unappropriated
Cone r ibuted capital and ret a i nod earnings -
,ii,ptc,pr iated
1110 MiA!:!1,
on11, r
Puh 1 ity
Tota1 prop, r t
11 ),8"26
I, Jli
2/7,671
1ff,
Schedule IT I-1
1otor Property Print Stationary Self-
po,,1 maint,ndric shop stock insurance
19,361 53,957 15,527 7,859 16! 650
1,317 1.21
76 70
307
105,5`,1 0 i,505 16,61!. -
121, 3'0,5:45 .2449 14
7,63 , 55,611 5,218,661 2,22V,770
81,604
290, IWO
30 000
1,09
65,801
I 006 -
- 850 685
906,3.35
, 311
, 012 18,140
1,404
14 ,
282,7no
1,183 601
2,255 4,631
- 7 , i00
- 305,000'
8,725,530 56,001 5,87.5,294 2,671,830 (62,60/) 79451.9, 4,754 100 ,J14
500 ono
- 500,000
,79:1 58, WI 5, .,', .157 16,004 90f, ,135
—Pan Ati,'
1
1
Revenue from operations
Tran ors f ror< other funds
Total revenue ; and transfer:,
Operating expenses
Net income (loss)
Cr lY OF. ;11 yM1,
rnrr''ntrl1 Serv..
For the yi:dr end, .! Se1;t• ,;11.r- 30, 1976
Yrl1�l is City
al pro,+, r
Motor
pool
t�_
Schedule TT['-2g
Print Stationery Self
c shop stock insurance
,157 ( 3_ ';<') , ,609 1,65,h()I`s:'!,,OM 124,5Or. 87,.?8h 1,0r1,404
- - - - - 116,:
6.274,257 132,859 2,178,609 I 65/4,666 898,056 124,596 87,;'O 2,197,685
6.457.327 91,326 2,285,244 1,653,765 1,131),566
112,041 87,431,096,951
$ _ (I83,070) _4I,5Z3 __(1C16,k35) 901 C212,'110) 12y555
P,1 in .<P,o1,1 ael.u,nnni +!P! l.nluAnIM n!lr !•pPI.P'u,luii.,.npua!ingglll!I.111914ApllnI191R,11! 1roi!Nr11'PI II II li II I 111
352
100,714
MIAAA"EWRR!II1+IMMII'RMITI TMIII! I'!@!!I!
III
fir)7 -1\ f
•
T
CITY OF ;MIAMI, FLORIDA
Intragovernment-i Service Funds
Combining Stattmeut of Changes in Contributed Capital and Retained Earnings
September 30, 1976
Public City
Total properties garage
Pto t o r
Schedule ltr-1
Property Print Stationery Self -
maintenance shop stock insurance
October 1, 1975, as previously reported $ 3,145,174 14,470 5,560,853 2,i
-4Contributed capital and retained earnings, F,f, '�42 I3s.66'+ 66,964 (2,019)
..
Restatement of beginning contributed
capital and retained earnings:
0 Change to full accrual basis of ,436 2,972 23,896 6,42Y
343, 725 - 31 _ - -- _
accounting ---- - ---- i'"
Contributed capital and retained earnings,
October 1, 1975, as restated
Net income (loss)
Contributions from other funds
8,488,899 14,470 5,871,289 2,369,214 162,560 66,964 4,402
i33,070) 41,533 (106,635) 901 (232,510) 12,555 352 100,734
-
919,701 __ -__ 110,640 301,715 - 7,346 500,000
- ____
Contributed capital and retained earnings 70 54 60y734
5 0 56.,003 5.575,294 2,671.,83n_ _02,604) 79�519' 4�
(deficit), September 30, 1976 ---_- _- -
ao ioe��uuiu,rraar;ea,�9 iI I II li I Iuiiiiiq�!!IIIII�iiiuiiiIijIPII! II upuuui�iiniupi 11111 II!!!f 104111111M011
!III1
414
IIII'!;IIp A, !
CITY OF 1IA'II, FLORIDA
Ent+ rprise
Combining Balance S1,2et
SeptP7:her 30, 1976
Assets
Cash
Receivables:
General accounts receivable
Accrued income
Property, plant and equipment:
Land
Buildings
Machinery
and equipment
Due from other funds
Liabilities, Contributed Capital and
Retained Earninf,s__________
Accounts payable
Accrued liabilities (principally salaries)
Deferred income
Due to other funds
Revenue bonds payable
Total liabilities
Total.
512,085
93,517
150,110
1,820,108
21,102,427
758,954
126,000
$ 24,563,201
$ 34,299
36,69
282,C43
204,550
285 000
842,551
Director's Marine Miami
office Stadium Stadium
1,508 1,832 94,908
1, 508
1,402
2,850
3,342 25,838
8,885 268
4,836
2,253,403
107,687
375,000
679,186
41,478
2,379,985 1,2.16 678
1,638
4,442
8,200
4,252 14,280
1,032
4,308
5,340
Contributed capital and retained
earnings (deficiency) - unappropriated 23,710,927 (2,744) 2,365,705 1,211,338
Contributed capital and retained
earnings - appropriated 9,723
$ 24..563,201 1508. 2,379.985 1,216,_678.
IIIINIMP11R'ill 1111111111I1
Orange Bowl
Stadium
184,217
21, 321
120,515
709,982
8,006,118
246,697
9,288, 870
12, 707
15, 638
214,621
242,966
9,045,904
Marinas
6,894
Dinner Key
Auditorium
297
26,836 8,996
16,054
120,290
3,339,972
28,475
3,.538_, 521
8,478
6,535
22,870
149,300
187,183
3,351,338
9_,__2R8,8.70 3 538, 521
781
10,0 4
215
1,262
1,700
Bay front
Au,i i tor i
39,562
2,898
1,328
500,000
3,802,928
112,125
126,000
4 584,84.1
3,082
3,058
4,540
3,177 10,680
6,897 4,574,161 1,341,008
Go;
9,252
2,279
15,000
1,156,406
222,492
1 405429
5,834
6,087
10,000
42,500
10,074
4584 841_
h9
(ja 4"
1,405�429
Warehouse
projerty
51,585
444,394
495,979
20,000
285_1000
305,_000
181,256
__ 917 2 3
495,979
Special
properties
122,030
4,286
95,000
1,420,000
1641„,37 6
4,198
1,054
5,252
1,636,064
1641,316
"SUPPORTIVE
DOCUMENTS
FOLLOW"
CITY OF MIAMI, FLORIDA
Funds
Coir1nStat,2mont of Operations
For the ycl!: endcd September 30, 1976
frr, op:r1tioft5
Opt.. rati 44 •
n 1
Director's
Total office
!I; 3,044,462
2 F,05 961
21P 501
85,713
103 257
11749
Schedule
Marine Miami
Stadium Stadium
141,513 182,730
207,703
126,256
S.61190) 5634_74
Orango
Bowl
St.id im
Dinn,r Key Bn `rout
``ariun Audiforits;:, _Audit;,riun
mk
I
Warehouse Special
Golf propertty properties
952,873 677.428 7;. 54,154 612,: 38,525 241,565
761,689 555,010 51,532 209,464 630,10-i 192045 141,902
11.q, 1.224.iS- 5909 (15`-_,2fiP) (i- i ii 19,4 Q 99.661
9, _
"SUPPORTIVE
DOCUMENTS
FOLLOW"
Enterpcicr, FkInd3
St4ttmt nf
.1tod 1 i t 1 ln(1 FArninE,s
Cer.tributt.d cnpitn1 nnd
Ocr 1, 1975, iprLvicil:,ly reported
Rt t • -n o I hr 1-T COnt c. i t
and ret,iint,(1
Ch.1,110_. to full accruil t-,!;1-, of accountin
Adjw;trnt to fixed at,;-,1 Septc71,cr 30,
19,5
Contrilviton fr F,n, 7.1J1,! rit
1
CY!: i 1 , 197.), a',
Netir (los)
Contrions from (to) other
H;Lk A and TlgS
(d'it 1, at Septemhor
Total
$ 27,P3,321
134,442
(:,
238,501
5g_3)
Scheduie IV-3
Director's
office
14,800
14,800
(17,544)
$ i_4744)
Marine
Stadium
2,546,496
31,183
2,577,679
(66,190)
(145,784)
2,365.,705
Assets
Cash
CITY OF MIAMI, FLORIDA
General Obligation Capital Projects Funds
Combining Balance Sheet
September 30, 1976
Investments, at cost which approximates
market
Receivables:
Assessment liens receivable
Accrued income
Due from other funds
Liabilities and Fund Balances
Accounts payable
Accrued liabilities
Due to other funds
Fund balances - appropriated
Storm Sanitary Pollution
Total sewers sewers control
196,572 1,398 134 1,335
42,559,572 2,975,097 12,693,811 1,869,866
32,467
442,291
4,345 121,734 26,221
1,985,308 452,591 816,000
$ 45,216,210 3433431 12815,679 2.713_,422
$ 2,304,104 213,231 566,512
2,688
8,050,1.07 - 4,359,1E7
77,951
34,859,311 3,220,200 7,889,980 2,635,471
$ 45y216210 3 433,431 12�815,679 2,71L422
p'illI11111i" 111,111I1111.11'1111
Police
;lities
1,940 61,639 1,889 7,670 S1,223 126 69,218
Parks and
recreation
facilities
H i ghw•iy
im ravar;t,nts
Convention
center
Revolving
faci1itft. Sidew:,i1s fund
Fire
722,229. 11,076,087 2,356,903 7,183,777 332,964 108,838 240,000
_ - - - 32,467
11,875 171,685
6,,044 11,_309,411
26,348 76,575 261 17 3,230
716,684 33
347101,824 7.,'68,012 3 '4,y81, 108 981. 344,91.5,
566,485 599,898 182,317 75 97,635 -
1,674 507 - 507 - - -
r,197,720 - - 2,186,900 - 6,300
1,6/0,165 10,709,006 2,919,507 5,080,540 286,846 102,681 344,915
, 7 36 044 11 309341 ]_ ,.001_224 7_, 2683022 384,481 10f3, 981 344_,915
t.
Cl 1 ;VA , 11)A
1 01.11 i vL 1 o i a 1 P jec t_ Fitnd
Y01,1"St.:t , li t.tir,..-;• <111(1
Year en(1-.1 5 3(), 1976
ic..!7a1 Jverities
t- rttres
;
Tc.,t.d i tut
and t et
I rt.“: v te tz 0 \lei'
• • t
Total
Sctle e - 2
Storm San i tary Pei Int: ion
1-41,1
sewers sewers t
7 ,00o , clip ) _ 5 , 00t) , 000 _
2.,95_4 , 9 3(..) 22 '.-; 1 10 867 278 1
9,954,930 22 5 , 1 70 586 7 2 7 S 11 , 668
21,937,175 3 ,174,!4P% 5,69, 561 .182
9 (3 i 561', 225,173 __
867 , 278 1.15,
$ (14,91°
3) (1 1
6 56't 839
297 676
' ( 6 9 56 1 ( 1
, 1E r <I t ion II i gliwav
i a) iliti t.31II itiE.s ir.,urovement:-.;
2 , I
P.)9,960
859,960
,=,98;39S
966
159 776
159 lb
1 , lit ,
358 I 4
/ / 0
2 , ) 398) (1 104 , ? '')9)
Convention
center
450 298
45G , 298
405,4P 6
/, 5G• 298
' •
• • ,
(A.(l':), 4.8_6)
Fire
facilities Sidewalks
19,95
19,957
275,4 31
19,957
6,780
6,780
12,689
6,280
390 19 469
2,589 )
Revolving
fund
17 362
17, 36.2
CIT'Y CTrt RDA
General O 1 tFrni,ls;
Gomarni: St in Fi Bal,,nces.
30, 197f)
b. :AC October 1, 19/5
as previously reported
h(ginnin find
:
TranQfcr: of construction
in pro,rc-,s of September 3:1,
19-i5 to Cioneral Fix'd
full accrl basir-.;
t .:tt. t r 1 ,
rtHstated
I. )of r-cvLinik
Hilantos at September 30,
S 814,65735
30,012,0/i
1
Stom
soors
Sanitary
st".ers
Schedule
Pollution
control
7,105,596 16,962,914 2,891,98/
2,358, '33S
6,762,164
352,7/ 612 ,209
4,394,6F4 8,588,541 2,817,479
'1 11:i
',•z"-)..1 311 3 ?20 ?nu
(698 iI8?
7 889
Parks and
Police recreation Highway Convention Fire Revolving Bavfront
fa�'ilitir�s facilities im�rov_ements center facilitit Sidewalks fund Recreation
13,957,022 25,026,56] 8,254,186 9,026,207 915,031 176,376 327,553 12,302
8,412,407 5,552,837 3,628,039 2,896,107 280,297 61,006
1,488,593
266, 320 402 , 381
644,074 72,455
4,056,022 19,207,404 4,223,766 5,486,026 562,279 115,370 327,553
(2,385,A57) (8,498,398) (1,304,259) (405,486) (275,433)
670,165
7Q9_,00 2 919Ai507 5,.0 9 S_y0 286,846
(12,689) 17,362
102
) 81 _3_4.4_,9.15
12, 302
"SUPPORTIVE
DOCUMENTS
FOLLOW"
CITY OF MIAMI, FLORIDA
Combined Statement of Long -Term Debt Payable
September 30, 1976
-h' i,t.,t iron bonds:
File f igbting facilities
af:is..
k ve incinerator
Re.',_,11dini!, sewage disposal
Marina
i ,itiOn
1Sa,' f ronw recreational facilities
facil ities
St.,t n•'er improvement
.: r ,eWe r
improvement
R•'c:re.iticnal facilities
i tr„ sower
alill:3'. sewer
Convention center
Interest
rates
1%;3 1/2%
1%; 3 1/2 n 3-1-58
1/10%;1%;3 1/10%; 1-1-62
3 2/ 10; 3T
3%;3 1/10%;; 6-1-65
3 2/10%;3 1/4%
3%;3 1/107 6-1-65
3 2/10%;3 lit
3 9/ 10.E ;47 8-1-67
3 9/10%';47, 8-1-67
3 9/10%;4" 8-1-67
3 9/ 10: 8-1-67
4 1/10'. ;4 1/4'% 7-1-68
4 4/107;4 1/2°'.
4 1./10'`;;4 1/4% 7-1-68
4 4/1O:1_;4 1/27,
4 1/10%=;4 1/4! 7-1-68
4 4/10%;;4 1/2%
4 9/10%;5% 5-1-69
4%;4 9/10%; 5-1-69
5%
Final
maturity
date
3-1-88 S
1-1-88
7-1-90
6-1-85
8-1-87
8-1-87
8-1-87
8-1-78
7-1-88
7-1-88
7-1-88
5-1-80
5-1-89
Annual
serill
uvmeit.,
35,0M(77-80)
140,000(S1-)
45,000(8e)
40,000i;
45,000(78-F0)
50,0600.
55,000(84-8)
60,000(S6-88)
590,000(7/-90)
125,00011-81
120,000(8))
35,00L,C;1-
1,7r, ,n01“ 7 7. 81)
115 S
55 ,(Hi) •
50,000(i9 -87)
55,000( :7 -78)
50,000(7(1-F7)
150,00)(7i-78)
80,0n(77-38
75,000(7i-i9i
80,000(S)-F)
395,000(ri-;9)
120,000(80-S5)
110,000(8()-28)
300,000i;/-0)
240,000(7/)
235,000(78-89)
Issurd
850,000
1,100,000
14,565,000
2, ii0,000
2,750,00(i
1,000,000
1,0c(,,rn
1,S00,00°
1 , 0 , H
1,00,000
5,000,000
3,000,000
4,500,000
4I
Bon,.!F.
Re t red Outstandina 1 1 10
375,000 475,000
485,000
6,105,000 8,260,000
, 250, 000
*385 , 0;
440,000
540,000
55',,000
2,76'1,(.0
1,860,000
615,000
1,120,000
31$,000
1,29C;,000
560,000
560,000
300,000
960,000
945,000
2,235,000
1,200,000
1,440,000 3,060,000
no
rio
no
no
no
no
no
110
no
no
no
no
no
no
"SUPPORTIVE
DOCUMENTS
FOLLOW"
E l �',i1ti n and rescue
,ci.1i.ties
;Id qu.irtcrs and
prevention faci.l it,i,,.
Font r,.;1 and iu-
cir,.,r,rtor facilities
sewer
114,h •;i', improvement
: improvement
iirpruvemcnt
Fire fighting and rescue
facilities
Sanitary sewer
i'olicc headquarters and
c.rime prevention facilitie
t,r•, 1E;' V1-2
Issue
dater
2/1W,;5 4/10'.'.;5 6r'10 ; 10--1--70
5 8/10 ;0';f5 2/10';
6 3 / 1 0 ;
4/ 10 ; ; 6/ 10 ; 10-1-70
5 8/10;6`;(: 2/10 ;
r 1.0 ;7'
l/2';;5 4/1(`:;5 6'10 ,
5 8/10 ;(,-;6 2/1r1 ;
6 3/10:;7:
a/'O: 6/1O
5 8I 1'i ; (; ;6 2.' 10
3/ 10 ; 7-:.
4'.' ; 4 l ,
10-1-70
10-1-70
2-1-71
2 1/2'.;4 ;4 1. 2-1-71
4 1/2-;; 3i
31';4-;- 1/4:; 9-1 71
1/r;4 4/10:i;4 6/10:.;
4 7/10 ;4 8/10' ;'
3 ;4 ;" 1/4 ; 9-1-71
r![4 .'10';,,6/10';
4 7/1 i' ; . 8! 1 0; ; 5;
3 ;4 1I10'2/10'; 6-1-72
3/ ; ; 4,'10'7;•4 1/2'
4 h% 1( ;4 1/ 10; ".
3,:;4 i/10";4 2/10 ; 6-1-72
4 1/10 ;4 4/1.0"'.;4 1/2-:;
4 6/10 ;4 7/10;;6'•
3;';4 1/10'/;4 2/107; 6-1-72
4 ,i/ 10';4 4/10;?;4 1/2°r.;
4 6/102;4 7/10;.;63,
Fina1
Maturity
date
10-1.-90 $
10-1--90
10-1-90
10-1-90
2-1-82
Anneal
serial
pa�:c, _its
55,000(77-81)
50,000(82-90) 1,000,000 275,000 725,000
1ssuccl
Bond
ire,1 futstandin' C,allahle
80,00()(77-5") -
75,000(87-90) 1,500,000 400,001) 1,100,000
160,000(77-82) - -
155,000(83-90) 3,000,000 800,000 2,200,000
570,000(77--$!')
565,000(`11 )
145,000(8:-90)
300,000(77--82)
2-1-9.1 80,000( 7- i6F
c{_91)
7,000,000
3,000,000
2,8)0,00O
1,200,000
7`,n(-!t!(. ,-H'fl j,50nscwn 3 0 0 o
9-1-91 395,00 0 ;-8,) _ -
120,000(83-8S) - -
110,000(8._91) .,090,0(10 1,S8t),(!O(l
c(
9-1-91 110,000(77-82,i - -
100,000(83-.91) 2,000,000 440,0c0
6-1-92 55,000(77-83)
60,000(S/.--92) 1,100,000
6-1-92 42`,000(77-82)
430,00001)
85,000(8'+-O',
80,000(89-921
6-1-92 80,000(77-88)
75,000(89-92) 1,500,00
5,000,000
83
4,1'80,000
1,800,000
1,180,000
3,420,000
1,560,000
1.75,000 925,000
1,275,000
240,000
3,725,000
no
no
no
no
no
no
no
no
- no
1,260,000
"SUPPORTIVE
DOCUMENTS
FOLLOW"
• Sri: Sevur
CITY OF •
Se!lefiute Vt-3
Combined Statement nf Lcal-Tetm r)eht rayable
improetMeig
Street and highway improvement
Pulic park and recreational
facilities
Storm scw-r improvement
Police hoadquarter:, And
cri:..e prevention faciliti,-3
Storn sowr imprt,vement
Street and hir)1'...;iv impr•-•vtrent
Sanitary sewer
Polico headquarters and
crim, prevention facilities
Sanitary sewer
Police headquarters ana
crirr' prevention facilities
Total general
obligations bonds
Inttres
r!ites
3;4 1/10';4 2,110;
4 111(1';:, L'10-;4 1'2";
4 A11:-1-:!., ;'Y
1110.;A 2/1r);
4 3/107., 4'10 ;4 1'2';
4 6/10';4 7i10';6'
Issue
date
6-1-72
3 1/2 ;'1;5 1:10 ; 10-1-72
5 2/Il
1,2';4 6.10'; 9-1-73
4 7/107;4 8/10'
4 9/10';5'.;1) 4/10 ;
J.
1!2:;:= h/10.; 9-1-73
4 7/10 S110.;
4 9/10".;V:;5 4/10'1;67
1!47;6-;6 1/1';
6 1/2;0 1/1T;6 2/10,;
;6 4/10..
6 1/2", 1-1-75
3-1-75
6 1/27' 3-1-75
3 1/,;67;6 1/4';
1110 2/101;
6 :6 4110';
3 3/4°..;i" 1710'.;6
6 411M6 ',/10 ;6 7/10'.;
6 8/10.H.6. 1/27.;7,;
7 1ii0;7 1/2:.
3-1-75
10-1-75
3 3/4-;‘:: 1/107;6 1/47,; 10-1-75
6 4/107;6 5/10;6 6/10r;
6 7/107;6 8/107.;7:/;7 1/21
10-1-95
10-1-95
Fir►a1
Maturity
cia to
6-1-92 $ 1.60,000(77-84)
155,000(85-92)
6-1-92
Annual
serial
avments
1.55,000 (77-831
55,000(84-85)
50,000(86-90)
45,000(91-92)
10-1-97 1,185,000(77-96)
1,115,000(97)
9-1-93 105 , O00 (7 7- 79 )
100,000(80-85)
110,000(86-92)
105,000(93)
9-1-93 210,000(77-84)
200,000 (85-89)
225,000(90-93)
3-1-95 160,000(77-87)
155,000t -95)
3-1-86
3-1-86
Issued
Bonds
RetFred 0utstandinz Callable
3,000,000 480,000 2,520,000
2,000,000 465,000 1,535,000
28,350,000 3,535,000 24,815,000
2,000,000 210,000 1,790,000
4,000,000 420,000
3,000,000
300,000(77-80) 3,000,000
500,000(77-86) 5,000,000
3-1-95 430,000(77-82)
425,000(83)
420,000(84-86)
415,000(87-95)
355,000(77-86)
160,000(87-94)
170,000(95)
110,000(77)
105,000(78-95) _2,000,000
8,000,000
5,000,000
3,580,000
3,000,000
3,000,000
5,000,000
8,000,000
5,000,000
2.000.000
$ 137,785 000 33,6(1.5,000 104,180000
85
no
no
no
no
no
no
no
no
no
no
no
"SUPPORTIVE
DOCUMENTS
r- r-. i
CITY OF "1An1, F1»F i1!A
Combined Statement of Long -Term Debt Payable
Cb1 if; tine hands:
aelator revenue bonds
ic',i•ro ement
1 i tn1 improvement
ritS
i t,i l improvement
��
rig°>, C
t: iitil improvement
tries "D"
Capital improvement
series 1
lice service tax, 3!•3 1/4732/10 2-1-63
i.5 "A�� 3 3/107;34/107
Interest Issue
rates date
3 3/4 7-1-51
3 1/107 9-1-54
3 1/1.0'. 9-1-55
3 6/10' 9-1-56
3 7/10"< 9-1-58
47 3-1-66
llge Bowl special
obligation bonds
Total special.
obligation bonds
4 1/107 3-1-67
Final
maturity
date
Annual
serial
tints
Issued
Bondi
Retired Outstanding Callable
_ - yes
7--1--81 $ 166,000(77-79) - 844,000
173,000(80-81) 3,300,000 2,456,000
- - yeS.
9-1-81 305,000(77) - _ --
325,000(78) - - - -
320,000(79) -
340,000(80-81) 6,000,000 4,370,000 1,630,000
9-1--81 50,000(77-81)
1,250,000 1,000,000 250,000 yes
_ - yes
9-1-81 35,000(77) - _
40,000(78)
45,000(79-80) - 215 000
50,000(81) 1,000,000 785,000
9-1 81 110,000(77)
78,000(78)
115,000(79)
75,000(80)
100,000(81)
1,800,000
_ yes
1,322,000 478,000
yes
9-1--81 65,000(77)
70,000(78-79) 355,000
75,000(80-81) 900,000 545,000
27.1-88 150,000(77-88) 3,125,000 1,325,000 1,800,000 yes
9--1-82
135,000(77)
140,000(78)
150,006(79)
155,000(80)
165,000(81-82)
1,900,000 ^ 990,000 910,000
$19,275.,000 12.,793_,000 6,4.8,000
87
yes
"SUPPORTIVE
DOCUMENTS
FOLLOW"
Orange Bowl warehouse
revenue bonds
Total enterprise fund
revenue bonds
Total long-term debt
CITY OF MIAMI, FLORIDA
Combine:St ltement of Long -Term Debt Payable
Final
Interest Issue maturity
mite date date
6 1/2:7. 12-1-69 12-1-8? S
6 1/27 12- 20- 7 4 12- 20- 89
Annual
serial
paimen t s
8,000(76-77)
9,000(78-79-)
10,000(80)
11,000(81)
14,000(82)
10,000(76-7 %)
11,000(73)
12,000(79)
13,000(80)
14,000(81)
1.5,000(32)
16 , 000 (8 '1)
17,000(84-85)
18,000(s0
20,000(r')
21,000(8)
22,000(89)
Schedule V'1-5
Bondi -_ -
Issue:i Retired Outst indincs Callable
105,000 36,000'
- yes
6:9 ,.000
225,000 9r000 216„000'
330,000 45,000 285,000
S 157,390,000
46,443,000 110,941J0P0
666
p1101111,11111
q i�llllll
1! 11111 gi MIlill! 140111 P IIIVPq'wilPlq"111'""'I'
TO
irl'j' h'i,il
I'Ais f'''.'e 1.t17t .in;enti.c al
"SUPPORTIVE
VE
DOCUMENTS
CITY OF M1AM1, FLORIDA
Trust and Agepcy Fund;
Comb i n i nF; Ba 1 an=•. e She e t
Sep tembt_r 30, 1976
a ,c is and Other Debi is
Cash
stmcnts
Accrued income
Intrafund receivables
Liabi11ties and Fund Balances
g 33, 293
Accounts payable
174,553
Deposit:; refundable
3,220,322
Due to othe. t funds
(453,µ1O)
I ntrafund pavables
1.96., 268 —
__..
Fundbalance
$ 3__(24,436 (453,_410)
Schedule Vt1 71
Adjustments
Total Dr. (Cr.)
196
112, 550
3,511,690
(453,410)
$ 3,.624,4.36 (453,41_Q) '
Community
De ,t iop ;ent
Street Sumer
Blue Dash Maintenance Bag Fiduciary
CETA EFA Program Tax Refund LEAA Lunch Accounts
196 - - -
112,550 -
560,524 2,822,991 -
- 68,142 - 60,033
20,702 26 329 81,016 - 44,491 280,872
811,,016 68,1.42 44.,491 )4Q,905
560, 3 2 9.3____ 7 20_, 707. . 6., 329
557,792
2t.732
560 524
2,584,172
351,307 - -
258 20,702 26.,329
2,_93],.737 20,702 261329
33,293
174,553
21,916 15,104 36,682 4,656
64,620
37,483
59_ 100 15, 555 7, 809 _ 63) 783
81,016 68_,.142 44_3491 14949 -
Schedule VIT4
CITY OF MIAMI , FLORIDA
Trust and Agency Funds
Composition of Fiduciary Accounts' Fund Balance
September 30, 1976
Police Towing Charges Fund
Bicentennial Park Sculpture Fund
Athletic Trust Fund
'.'nder Expressway Park Equipment Fund
Miami Management Improvement Program Fund
Japanese Tea House and Gardens Complex Fund
Folk Festiva'_ Parade - Pledge Monies Fund
Recreation Boxing Program Fund
New Citizens Parade Fund
U.S. Travel Service Advertising Grant Fund
Artists in Residence Program :12 Fund
Federal Reimbursement Public Law 92-500 Fund
Miscellaneous Funds
3,692
22,500
3,682
505
1,952
10,660
4,017
42
100
379
3,230
12,867
157
Total $ 63.783
STA-tF:A1FNT- OF ('I1 M(:F'S I1 FINANCIAL S"fi:1Tt'S
The firm of Peat. Marwick & Mitchell is now engaged in auditing the financial statements of the various
funds and account Eroups of The (Itof Miami for the period ()ctober 1. 1476 through September 30. 1977.
Such financial statements. prepared in accordance with the Notes to l naudited Financial Statements in-
cluded in this :Appendix H. shall he. in form and substance. substantiall\ the same as those in Appendi\ A for
the fiscal year ended September 30. 19't,. 1 \wept 1or the issuance of certain ponds for the fiscal ear ended
September 30. lil__ which are included to the statement i l I)eht Ser\ Ice Funds and (;eneral l ong- 1 coin Debt
on the next sucL-eeding page hereof. It is expected that such linan:iui statement for the fiscal \eitt ended
September 30. 197- \\ill show, that the financial wondttion and status of fhe (It\ of Miami has not changed
materially and adversely from the financial condition and status of the (n\ shown h\ the financial state-
ments in Appendix ,A
"SUPPORTIVE
DOCUMENTS
FOLLOW"
CIF) ()f. \11A4\11. f I (bP.11)
ofiper.
bt•ht Sru f j .ind rwral I floc- !trill 11e tit
ticr 111 P4
111(ht
t
jtintit.
N.-0s
i att., — dtimutient (less alloAance
of 3.5221
• ......................... . .. . ..
(1.• ...... , ................. . .. . . . ..
ahk for 1:1;reTTICT1: f n
ciencrai obliyatlor,
•. ot.711 1(. tv; nro\ 107 rcl:rt:171;:n1 c honds
.............
1 hAttmef
.. . ...... • •
.•. ("1, ".11.1,1• !) 1:.kile 3! .. . ... • . .
•••• ,te- 7,1% t101%. ...... , ........ „
t.................... . ... ............
i.......... . • •
t.rtivral
I i et
t)f ht
S. 4.376.750
1.t•f'9.537
"SUPPORTIvE
DOC'Lj 5 f;
IN FS
OL Low,'
('ITV OF MIAMI. F1.ORII) 1
Notes to Unaudited Financial Statements
September 5. I977
(1) MAIM 1R1 OF SIGNIFICANT 1('('01 \11\G I'c)I I(!Fs
The accounting policies of the ( rt1 nl \1lami. I-Iortda conform to generals\ accepted accounting princi-
ples as applicable to go\ernmental unit.. e\cept for the non -recognition of depreciation on the tied as-
sets of the Enterprise and Intragocernnlental Ser\ice Funds. The 'ling is a summar\ of the more
significant of such policies:
Fund 1ccnuntinU
1 he account. Or the ( It\ are organs/ed on the hash of funds or groups c'I accounts. each of \\inch is con-
sidered to he a separate accounting en1itl . The operations of each fund are accounted for h\ rim tiling ;1
separate set of sell -balancing accounts \,high comprise its assets. IiahiIitie.. fund balance, re%enues and
e\pendrtures. 1 he Department tit Oft -Street Parking and the I)t'\k rum+n I)e elopment \uthortt\ are
autonomous units of the ( It\. the financial statements of these entities are not included herein.
Basis (of' 1ccounting
1 he modified accrual basis of accounting. under \khich e\penditures. other than interest on bong -terns
debt. are recorded \+hen he liahilit\ is incurred and re\cnues are recorded \+hen recencd in cash unless
susceptible to accrual. i.e.. measurable and available to finance the (it\'s operations. or of a material
amount and not received at the normal -tittle of receipt, is follo\+ed for the hudgetark tunds t(iencral.
Special 1 e\enue. and Debt Ser\ ice Funds). The accrual basis is utilised (\kith minor e\ceptlons) h\ all
other fund..
Pooled Cash and Interfund -Accounts
To obtain Ile \ihiht\ in cash management. a pooled cash system is emplu}ed h\ all funds including some
\kith restricted assets. Gash is pro\ided to user funds us needed through etiuities in cash accounts.
Allocation of 1d►ninistrati+c penses
!he (ieneral fund incurs certain adminlartti\ee\penses for other funds. including accounting, legal and
engineering ser\ ices. \n adnlnlistratne charge is levied against the debt seek Ice funds to defra\ ;i portion
of these e\penses.
(2) I)I:(RI191O\ OF Ft \I)ti
I)eht Sur\icc Funds
The I)eht Service funds are utilised to account for the payment of interest and principal on the ('itv's
general long-term deht.
General Long -'term t)cht Group of Accounts
This group of accounts is established to account for long-term debt not accounted for in Fnterprise
l-unds.
(;1
Cit1 OF F•1.ORII)a
Notes to t naudited Financial Statements
September 39. 1977
(31 IF )1)S PAN .1131.F'
ta) Genera( Long -Term Debt
(ieneral obligation honds. I' to `:' maturing in
various \ears through 19t)!c, current principal
maturities of appro\imatct\ 5';,?61) (in(I hacked h\ the
full faith ;Ind credit of the.(it\ and its taking po\\er.
Special obligation bonds z I li . to 4 I . I(t`
maturing in various \ears through 19S. current
principal maturities of apprn\int atcly $45(. 0(I
S 17 ..9()3,O(1O
;.101.000
ill) Debt Service Requirements
General Obligation Bonds
Debt ser\ i:c is pro\ ided h\ an unlimited tan levy- on nun-c\empt property ‘clue and collections on as-
sessment liens Iron) projects financed by the proceeds of such hands.
Special Obligation iinnds
(I) Incinerator revenue hands—N1one\ from the General Fund are used to ser+ice these hands. ,\
reserve of S2 0,000 must he maintained.
121 ( 1lhlles ser\I:e tan hands—l)eht ser\ice Is provided h\ lltlht tes ',en ICe ttnt.'s tin p‘)sed h\ the ( It\
on each purchase of electricit\. gas. \\ater and local telephone and telegraph service. \ reser\e
must he maintained equal to the nta\tintnn annual deht service requirement. ( tihties serf ice la\
revenues e\ceeding deht service and rescue requirements can he used for art \ I;a\\ful purpose.
Orange lio\vl Special Obligation Bonds—I)eht service is provided I)v electric franchise revenue.
1 reserve equal to the nta arnunt annual debt service requirement must he maintained.
BM 1. OR 110 \ I)S
Cornmistiion +0ht ( ol
(. it Ihdl
1.7,00 Pin met
Itr• t
Dtnner Ke%
\limn'. 1101.1,11 ;11;;
Stlt,
.tanuar 11.1918
1kt: 111.11,t: the 6,11,,y.tr.r. t,tler hr the -the ( I 10n1.1.1., 11el1tiortet.1 heltrtt atRI
(le.rahett in the Sale (11 41,t.t t..ct i 4q On, thts offer beitt,t2
For .01 01 ',aid anti t k-
1 10 f . A I ,t'C Will rt.. 1)1C\ C11-
' it, •
th,.1 Anti . : '
1 Itt I it:twot1
l'utdit. P.!, k I it,
,tml Ptt tuitit,”1,
Ili i .1Ciiif it , III':: i .titililt • Hit, W.I..
\ 1.111161%
..iiMid. ){4,!,, ittoid,
%+ 1:110ii
. . — ..„
tinti Sf•ti.tgif:
Nslt 4s,(0100 2(1.(1im)
pp; 1 ..:;:•stukio ..,ti,i101, -til.tiolo ,:-tti,thtst
Itm.iwilt :+'!,(if.,•,
.1,11 1 oii "s,
H,.. .1 ..:...,.i?t;1? 'lit.o, i, I. t 41,i
4il,)ti '11.(!irt! 7,ii.i)irt
,
19St.) .1'0,000 41001{1
i'010 4,...i, !Win 4!),I.I.,tli :' •,,.0'..
y..14
l‘P.i7, 4 ,..,,,,.1t 7, • ,t v, ; ''.'`,.f.}i,,,
4!..tt 0,1,, ....'.,(ti
ititikl •-l't,i).i it ;( i ',7,tit III
"(11P1 -1S11.1)111)
'I It II .4'xtt.tiot
:.(ttti •I'qt,(ioti *--.Ittl,.1
21.'1).4
:lttlt-1
'rot, li.iti.t,t,i,
lt,h,,,..,,,,aig. 4ttiatInt,
(It S11.54t)mili) tor 'Aid futile l':+th .intl 1<e: icatiittv,t1 I :tolcle,
t:'i S1.0(()Pitii t;'. -,i O. I ire i ti_thliii.,.. I ire Pre--,:ttuon ;m(i f..,..,::.,.. I hilt:florid..
t I, S1.5r3d,(iird itir •„tki flutpsoll2 fiond..
pitr• .1 premium 01 1t)r ,i:! ,,,, ,.thi horitis \\ e ‘;', III als+1.! '.' i. ' s. '..; .i,..'t! ink, '.e.st On (lie ill'fi(IN frIlfi]
I . PC-. I.,' ihti 4,..'''.L! +1 O'er. ..il:!..'.1.3:,
Itittret.t
11
and
l'SUPPn.17 VE
r-, I* 0
I •.:\
We enclose here«ith a certified or hank cashier's or treasurer's check !or S:stt.st10 payable to the order
of The City of Miami. Florida. t+htch check is to he applied or returned in accordance \kith the Notice of
Sale.
The (losing papers referral to in the Notice 01 `sale are to include iertdated as of the date of the
deli% cry of the bonds. atth reference to the Official Statement. as pro\nled therein. and stating that there is
no litigation pending or. to the knokkledee of the signer of such certificate. threatened affecting the \ alidity oI
the bonds.
Bidder
Title ___
(Set addition or alteration. e\cept as pro\tded ahoke.
is to he made to this hid and it must not
he detached from the attached
\otice of Sale.t
The foilokking is our computation. not to he considered as a part of our hid. of the interest cost to the
Cite under the terms of our hid:
Aggregate interest on bonds computed from December 1. t97
5
S
Less premium
\et interest cost
Average interest cost rate (to four decimal places)
!171!IIiRI' W,l1Il1!II
NOTICE OF SA1.1.1
S14,040,001I BON I)ti
THE CITY OF VIIAN11 FLORIDA
l 1,54O,000 Puhlic• Park and RZecreatiunal I aLilltics
1,0OU,000 Fire Fighting, Fire Prc‘enti,In and Rescue Facilities Bonds
.500.0(4) 11uusing Bonds
!. Mill hr reLe ed ht the (. unurn.•1 n1 1 ! '.I ; ( !t 1han;l. ! I, r d,t. sit it• reeular',lace of
,'',lll I'arl :\Ilierllilrl I)ritc. Dinner hct Miami 1 I.,,I,i,1 anti; 11 \1. Miami -I-%me.
ionuitrt I I. t')'s.
t;t and duce all kids kill he puhlit.l. (Tined and read. lily the t,lli,li.i.lni bonus of I he I, it 1,t \halm.
iii dated December 1. 1977 and maturing annrtall\. I)eLelllher I. ttlthuut uhtlun i,fhnur redemption, in
. , ;'ttncipal amounts. a. Iollm+.•
$11,5410011 1'I131.I( 1'1RIk :1\I) Ill.( RE:AI IO\ 11. 1. 1( II 1II1•1S 11O\I)ti
Principal 1c:n 1,1 I'rin,ip:11
.nu•I- it %mount \1.lturit% %ninon'
VfIN),INIn iiisi i .4•(' IM 01
4sll,tli p,) I'l'1 ` 4.ri 1If i11
:..K ; 4!41,.IN 1(I ) yy 1 .1.I I,,Jt h 1
4FI1,(In11 I4v4 1.11 tnlo
4,-, + 4h0.0(Ill 1945 4I,nlltin
`•i•;? 4Kn,nnll t,),1(. 4A(l,(11111
r•., 4S0.111n) 144- 4'010110
i;)•,;: 4!ttl,n(U I'19S 4Nn1Nn1
,OS' 4?i4 i,01111 I'I'1'1 4su.l n l
iv!•ip 4sn,(10(I `ntl 4,01.ihnl
i •...,9 4srrini11 'uui 4'I)tnn)
•i"(;) 4st111111i ;111'' 4mi,Rnr
+I.r`t l.ttiiti FIRE: FIGHTING, FIRE: PREVENTION AND RESCUE FACILITIES II•:` H(1\I)S
artf
torn\
Principal
%mount
%car of
\Ian'ritt
I'rincgl;ll
%mount
1,0,4
I,,.
I
1441 . ^1NIll
I .)y4 `5,01111
j9o, 4 1NN1
1446 •;:, to
$1,500,1100 HOUSING BO\1)S
Principal % car of Principal
Amount Matto it% Amount
520,11111 1'04 `,".O1111
20.1110 I0.4; •••.(aai
20,11110 1990 "Jam
20,1110 1`)4' '- iltl0
20,(11(1 1491( '',0111)
311,(11(1 1949 75 INN I
30.001 21101 77.11(111
30.000 21101 - .11( 0
30,000 2001 7;,(111)
30,011 21111.t ?• 1N11)
40,000 211114 9 `.000
40.000 2011S 9`,0(111
40,0111 200o (I1(11(11(1
411,1110 211 u7 110.000
40.(11(1
I)enomination $5.0(10: coupon bonds registrable is to principal ah\ne or as to bath rrincira} ind in-
terest: principal and semi-annual interest (June 1 ;md December 1) pa\:thie rimless registered as to both
principal and interest) at Chemical Bank, in the Borough of Manhattan. ('it\ and State of tie\\ York. or at
Continental Illinois National Rank and Trust Colnpan\ of Chicago. in the (tt\ ,if Chicago. Illinois. or at
The Florida rational Rank and Trust ('ompan\ at \li;mlt. in the ('it\ of \hams. I l:trida. at the option of the
holder or registered owner; general obligations: unlimited ta upon ;di i.t\ahle propert_, \'itltln Ille ( 11\ to\•
eluding homesteads).
The Fire Fighting. Dire Pre\enton and Rescue I aciloles Bond. \, ereal;dated i + a inilenle'ht of the ( Ir-
tuit (-Dort ul I)ade Count\. Florida. on March 7. 1977; the Bousme Bonds ..\ere \,ihd.Ited h\ ;i inclement of
said Circuit Court on I ehruur\ 17. IU'-: And s,nti i'ubl.): Park and ltecreationai I dellltie• Boris's \\ere
validated h\ ;t inclement oI said Circuit Court on \1a\ �. i'l-" \\hi,:h .\,Is ;tfltrnied h\ the Supren;e ( ourt of
the State of Florida on ()ctoher 31. Itr_'
Bidders are requested to 11:1n c the interest rate or rate.. nit c\Let:ding rei annuin. in nlulliples of
or 1,20 of I' Lich Bidder must speed\ in his hid :he ;Inlount .surd tfhe inatt.ritirs I.ihr h, n\ls of r,!:I, Lite.
tnd all hand; maturing on the same date must hear interest at the same rite `,, r.tte nui\ he more th.!n t\+o
times the lowest rate named in the hid. No bond shall hear more than one rite of Interest \\bleb rile sh;111 he
uniform for the life of the hand. and the interest on an\ bond ra\ah}e on ;tn\ interest ra\inrnt dm:.hail he
represented h\' a single coupon. \o hid of less than par and accrued interest or for less than .Ili of the bonds
offered \\ill he entertained. The bonds \\ill he a\\.irded to the bidder oiler to purcli,rc the h,,nd, at the
Io\+est interest cost to the Cit. such cost to he determined h\ deducting the tom! ,unount ,,1 an\ premium hid
from the aggregate :mount of interest upon all of the bonds tri'i'1 l)e'ieniber I. t') ltlt;l ';Ie'II re,peiti+e
maturities.
Each hill ,'lust he submitted on a Corti' to he furnished h\ the tinder•ieneel and must I,r cih'losed in a
sealed envelope marked "Bid for S1.1,010.000 Bonds". and must he aeconTanied tt\ ;! certified or hank
cashier's or treasurer's check for S280.800 upon an incorporated hank or trust ,o iparlt. r;nahlC uncon-
ditionallk to the order of The (it\ ol.'+lianli. l•lor-ida. or, \\hieh 1 interest 1,111 he ,ti!,)v.eti \\\.IId of relc:-
tion of bids will he made on the date ahove stated for the receipt or tvIds and the: tiircks un•ucresslul
hid(iers will he returned immediate! \. I he check of the successful hitlder \\ill he held unea.ncd as .e:uiIt\ for
the performance of his hid. hut in the event that the successful bidder shah fail to e nlri\ \kith the terms i,f his
hid the check ma\ then he cashed and the proceeds thereof retained as ;Ind tt+r full Liquidated damages.
N henever such terms have heen complied \kith the cheek nla\ he applied to+.artis pa+ meat of the hinds. or it
It Judi t'e (,lurid rrllpossihie t,, issue and tie!'ACr the !Niels'.. till_' tie ;�!Ieltied
ll !ti anticipated 01,11 l I. SiI) it tII[:al1Un m1i111,e'l \\111 i e ; 1!I!lesl Oh Ilie' i' !!ll., l ,tt ri:(iiie !he Lute
to print such nutnhers un an bond lets all\ error \kith Respect thereto shall LI Ii.titlile cause for a t,iliure or
refusal hC the purchasers thereof to ac;:epl deliver\ of or pa\ for the bond• lil ace I'd,lil:e \kith the terms of
their hid. All e\pctlse, in relation to the printing ell (l SIP rairnhers said hoed- and the ( t SIP tier' i:e
Bureau charge for the assignment o1 .aid numbers .hall he paid 'on h\ the ( It'. of \11.Iii)I.
'I -he approking opinion tiI Bro\\n, 11,,.td. lees. s!i :h,.ii !'.'1%. `.c.,, 1 .11.. 'i . \' ill he tunlisiled
++ithout cost to the purchaser. of the bonds. !here \\i':I ::iso he furnished the u-u.d closing paper..
Deliver of the hinds \kill he made tun or ahoul .I,,nuat+ 11. le)-, it `e\+ l t,rk• \ 1' ,!eama pad liens
therefor h\ a ceriitied or hank cashier's or treasurers .heck dr;lk\h on a Net\ fork. N.1 hank or trust
company.
Copies of the Notice of Sale. hid form and the Official Statement nri\ he obtained by application to the
undersigned at '\lianli (it\ Bail. 3500 Pan ,\nler•ican Drive Dinner F.e\. \tianli. Florida 33133 t eel. No.
(305) 579-6350) or from Rro+kn. Wood. l\e\, Mitchell c4 Pett\. One l.ihert\ Pla,a, No+ York. N.Y. 1000()
(Tel. No. (212) 3,19-7500, I:vt. 352).
The right to reject any or all kids is reserved.
James L. Gunderson
Director of I inance
The City of Nliami, Florida