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OMNI CRA Resolution: CRA-R-26-0010
OMNI CRA
1401 N. Miami Avenue
Miami, FL 33136
www.omnicra.com
File Number: 19002 Final Action Date:3/12/2026
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
SUPPLEMENTING RESOLUTION CRA-R-25-0076 ADOPTED ON DECEMBER
11, 2025 ENTITLED "A RESOLUTION OF THE BOARD OF COMMISSIONERS
OF THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT
AGENCY, WITH ATTACHMENT(S), AUTHORIZING THE ISSUANCE OF NOT TO
EXCEED AGGREGATE PRINCIPAL AMOUNT OF $150,000,000
REDEVELOPMENT REVENUE BONDS, SERIES 2026 FOR THE PRINCIPAL
PURPOSE OF FINANCING CERTAIN REDEVELOPMENT PROJECTS;
PROVIDING THAT THE SERIES 2026 BONDS SHALL BE LIMITED
OBLIGATIONS OF THE ISSUER PAYABLE FROM TAX INCREMENT
REVENUES AS PROVIDED HEREIN AND MAY BE ISSUED AS TAX-EXEMPT
OR TAXABLE BONDS; PLEDGING SUCH TAX INCREMENT REVENUES AND
PROCEEDS OF CERTAIN FUNDS AND ACCOUNTS CREATED HEREIN TO
SECURE PAYMENT OF THE PRINCIPAL AND INTEREST ON THE SERIES
2026 BONDS; DELEGATING THE AWARD OF THE SALE OF THE SERIES 2026
BONDS TO THE CHAIRMAN; APPOINTING A REGISTRAR AND PAYING
AGENT; APPROVING THE EXECUTION AND DELIVERY OF A BOND
PURCHASE AGREEMENT; APPROVING THE EXECUTION AND DELIVERY OF
A CONTINUING DISCLOSURE AGREEMENT; PROVIDING FOR THE RIGHTS,
SECURITIES AND REMEDIES FOR THE OWNERS OF THE SERIES 2026
BONDS; MAKING CERTAIN COVENANTS AND AGREEMENTS IN
CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE.";
MAKING CERTAIN COVENANTS AND AGREEMENTS IN CONNECTION
THEREWITH; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Omni Redevelopment District Community Redevelopment Agency (the
"Issuer") previously adopted Omni CRA Resolution CRA-R-25-0076 on December 11, 2025 (the
"Authorizing Resolution") which authorized the issuance of not to exceed aggregate principal
amount of $150,000,000 Redevelopment Bonds, Series 2026 for the principal purpose of
financing certain redevelopment projects; and
WHEREAS, the Issuer desires to supplement the Authorizing Resolution to clarify the
status of the payment of the Interlocal Agreement Obligations (as defined herein); and
WHEREAS, all other provisions of the Authorizing Resolution will remain the same;
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF MIAMI, FLORIDA:
SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted
pursuant to Chapter 163, Part III, Florida Statutes, and other applicable provisions of law.
City of Miami Page 1 of 3 File ID: 19002 (Revision:) Printed On: 4/6/2026
File ID: 19002 Enactment Number: CRA-R-26-0010
SECTION 2. SUPPLEMENTS. (a) Section 2. Definitions of the Authorizing Resolution
is hereby supplemented and amended as follows:
"Interlocal Agreement" means the Interlocal Cooperation Agreement dated June
24, 1996, by and between the City, the County and the Agency, as may be amended
from time to time, as specifically amended by the Second Amendment to the Interlocal
Agreement dated May 8, 2025, by and between the City, the County and the Agency,
which provided for the exercise of redevelopment powers by the City in the
redevelopment area of the Agency (the "Redevelopment Area").
"Interlocal Agreement Obligations" means the payments required to be made by
the Issuer under the Interlocal Agreement.
(b) Section 16. Special Obligation of Issuer of the Authorizing Resolution is hereby
supplemented and amended as follows:
SECTION 16. SPECIAL OBLIGATIONS OF ISSUER. The Series 2026 Bonds
shall not be or constitute general obligations or indebtedness of the Issuer as "bonds"
within the meaning of the Constitution of the State, but shall be payable solely from and
secured by a lien upon and a pledge of the Pledged Revenues as herein provided,
subject only to the prior payment of the Interlocal Agreement Obligations and to the
payment on parity therewith of the Parity Debt. No Owner or Owners of any Series
2026 Bonds issued hereunder shall ever have the right to compel the exercise of the ad
valorem taxing power of the Issuer or taxation in any form of any real or personal
property therein, or to compel the Issuer to pay such principal and interest from any
other funds of the Issuer.
The payment of principal of and interest on the Series 2026 Bonds shall be
secured forthwith equally and ratably by, and the Issuer hereby grants to the Owners an
irrevocable lien on the Pledged Revenues on such Pledged Revenues and the Issuer
does hereby irrevocably pledge such Pledged Revenues to the payment of the principal
of, redemption premium, if any, and interest on the Series 2026 Bonds, for the reserves
therefor and for all other payments required hereunder, subject only to the prior payment
of the Interlocal Agreement Obligations and to the payment on parity therewith of the
Parity Debt. Such amounts hereby pledged and assigned shall immediately be subject
to the lien of this pledge without any further physical delivery thereof or any further act,
and the lien of this pledge shall be valid and binding as against all parties having claims
of any kind in tort, contract or otherwise against the Issuer, irrespective of whether such
parties have notice thereof.
SECTION 3. CONFLICTS REPEALED. All Resolutions in conflict or inconsistent with
this Resolution are to the extent of such conflict or inconsistency hereby modified or repealed.
All other provisions of the Authorizing Resolution remain the same.
SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon
approval.
City of Miami Page 2 of 3 File ID: 19002 (Revision:) Printed on: 4/6/2026
File ID: 19002 Enactment Number: CRA-R-26-0010
APPROVED AS TO FORM AND CORRECTNESS:
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City of Miami Page 3 of 3 File ID: 19002 (Revision:) Printed on: 4/6/2026