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HomeMy WebLinkAboutR-76-0612AEC/rb 6/15/76 "SUPPORTIVE 1 JR V t r RESOLUTION NO. 76-612 A RESOLUTION AUTHORIZING AND DIRECTING THE CITY MANAGER TO EXECUTE AN AGREEMENT WITH DADE COUNTY, FLORIDA, FOR THE DEVELOPMENT OF HOUSING FOR FAMILIES AND PERSONS OF LOW OR MODERATE INCOME WITHIN THE CITY OF MIAMI, FLORIDA, UNDER THE TERMS AND CONDITIONS CONTAINED IN THE ATTACHED COPY OF THE SAID AGREEMENT. BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The City Manager is hereby authorized and directed to execute an Agreement with Dade County, Florida, for the development of housing for families and persons of low or moderate income within the City of Miami, Florida, under the terms and conditions as contained in the attached copy of the said Agreement. PASSED AND ADOPTED this 17 day of DUNE 1976. MAURICE A, FERRE -F!' --- � _ ' H , D) , OUTHERN CITY CLERK PREPARED AND APPROVED BY: / '� . ROBERT F. CLARK Assistant City Attorney APPROVED AS TO FORII AND CORRECTNESS: 7 . 1 JOHN S. LLOYD ity Attorney tJ 1 MAYOR "DOC .! .,1E 1 INDEX `• AGREEMENT FOR FINANCING HOUSING IN THE CITY OF MIAMI BY AND BETWEEN DADE COUNTY AND THE CITY OF MIAMI THIS AGREEMENT, made this day of , 1976, by and between DADE COUNTY, FLORIDA, a political subdivision of • the State of Florida (hereinafter called the "County") and the CITY OF MIAMI, FLORIDA, a Municipal corporation of the State of Florida (hereinafter called the "City"); ,. at /DOM-WVEE DC"L'UM L`\ TS W I T N E S S E T H: FOLLOW" WHEREAS, the Commission of the City on the 4th day of February, 1976, adopted Ordinance No. 8514 (a true copy of which is attached hereto and marked Exhibit "A"), authorizing the issu- ance of $25,000,000 housing bonds of the City for the purpose of providing housing in the City for families and persons, including the elderly, of low or moderate income, by assisting the County in financing the cost thereof; and WHEREAS, the Commission of the City on the 4th day of Feb- ruary, 1976, adopted Ordinance No. 8515 (a true copy of which is attached hereto and marked Exhibit "B"), providing for the holding of a special bond election in the City on March 9, 1976 upon the question of issuing $25,000,000 housing bonds of the City as authorized under Ordinance No. 8514, and the qualified electors of the City, at such election held on March 9, 1976, approved the issuance of $25,000,000 housing bonds of the City, as deter- mined by resolution of the Commission of the City, being Resolution No. 76-339, adopted on the 25th day of March, 1976 (a true copy of which is attached hereto and marked Exhibit "C"); and WHEREAS, Ordinance No. 8514 (hereinafter referred to as the "Ordinance") provides, among other things, that the City shall enter into one or more agreements with the County respecting the application of the proceeds of said bonds in accordance with the WAW 2 Provisions of the Ordinance, and the County desires to enter into such agreement or agreements with the City for the purpose of providing housing in the City of. Miami pursuant to applicable law and the provisions of the Ordinance; NOW, THEREFORE, in consideration of the covenants and agreements herein contained to be performed by the City and the County and other good and valuable consideration paid by each of the parties to the other, the receipt of which is hereby acknowledged, it is hereby agreed by and between the City of Miami and Dade County, as follows: Section 1. In addition to the words and terms elsewhere defined in this Agreement, the following words and terms as used in this Agreement shall have the following meanings unless some other meaning is plainly intended: "City Bonus" shall mean all or any part of the $25,000,000 of bonds authorized to be issued by the City of Miami under the Ordinance; "County Obligations" shall mean the bonds, notes or other obligations that shall be issued or incurred by the County for financing any Housing in cooperation with the City, pursuant to this Agreement; "Families and persons, including the elderly, of low or moderate income" shall mean families and persons having incomes which, under applicable law then in force, make them legally eligible for the housing that may be assisted with proceeds of the City Bonds under the provisions of the Ordinance; "Housing" shall mean the dwelling accommodations made available within the corporate boundaries of the City, at rents and costs which families and persons, including the elderly, of low or moderate income can afford, that is authorized under the applicable law then in force and is financed by the County and with City Assistance under the provision: of the Ordinance and this Agri?e.wmt; 3 "City Assistance" shall mean the assistance which the City shall agree to provide to the County in connection with any Housing Project, pursuant to applicable law, the Ordinance, this Agreement and any Project Contract entered into between the City and the County, as provided in this Agreement; "Housing Project" shall mean any such Housing financed and provided by the County with City Assistance, pursuant to the Ordinance and this Agreement and as described in any Project Contract; "Project Contract" shall mean a contract, as provided in Section 12 of this Agreement, by and between the City and the County, providing for the undertaking and financing by the County, with City Assistance, of a Housing Project. Section 2. The City and the County hereby agree to cooper- ate in the provision of Housing in the City in conformity, with the Ordinance and this Agreement and to proceed with all due diligence in undertaking and financing such Housing. Section 3. The City and the County agree that with respect to each Housing Project to be undertaken, they shall enter into a Project Contract which shall describe such Housing Project and shall provide for the financing of such Housing Project by the County, the manner of such financing and the particular City Assistance that shall be provided therefor, and which shall contain such other provisions, consistent with this Agreement, substanti- ally in conformity with the draft form of Project Contract, which is attached hereto and marked Exhibit "D". Section 4. The City and the County hereby agree that no Housing Project shall be undertaken unless they have obtained and given dui:.' consideration to the opinion of counsel for the City and the County, respectively, upon the legality of such Housing{ Project under applicable law, tho Ordinance• and this Agreement. 4 Section 5. The County and the City hereby agree that each Housing Project shall be financed by the County, with City Assistance, through County Obligations which shall be self-liquidating in that the payment of the principal of and the interest on such County Obligations can be paid in full from rents, charges and fees collected by the County therefor, together with such federal, state and private grants, contribu- tions and other income and money which may be made available therefor (exclusive of any proceeds of City Bonds). Section 6. The City, by its CityManager, may from time to time submit to the County Manager a recommendation for under- taking a Housing Project, and the County Manager shall give con- sideration to such recommended Project. The County Manager shall from time to time recommend to the City Manager such Housing Project for City Assistance as the consideration to any Housing Project recommended consideration by the City Manager, shall deem to in conformity with applicable law, the Ordinance County Manager, after giving for the County's be advisable and and this Agree- ment. The City Manager shall promptly inform the County Manager whether or not the particular Housing Project so recommended is tentatively acceptable to the City for further development by the County. Section 7. The County Manager shall prepare or cause to be prepared, for any Housing Project thus tentatively approved by the City Manager, plans, specifications, contracts and other documents necessary in connection with the provision of such Housing Project, and the County Manager shall submit such documents to the City Manager for prompt review .and consideration. The County Manager shall give consideration to any comments and su_ gestions respecting such documents which may be made by the City Manager and shall then prepare or cau,;e "SUPPORTIVE re)..�l ' J .. ►._1 . • !1 to be prepared final drafts of such documents. Such final documents shall be referred to the City Manager as soon as they are completed and shall be used by the County Manager in connection with soliciting and receiving bids for the provision of the respective Housing Project. Section 8. The County Manager, after appropriate consulta- tion with the City Manager, may select and designate a financial consultant, for such period of time as the County Manager deems desirable, to give financial advice and guidance respecting the issuance of County Obligations or the incurring of any obligations constituting County Obligations for Project. Such financial consultant respect to the City Assistance that the provision of any Housing may also provide advice with may be necessary in connection with the financing of the respective Housing Project, such advice and guidance of the financial consultant to be in conformity with the provisions of applicable law, the Ordinance and this Agreement. Section 9. As soon as practicable following a tentative approval by the City Manager of a Housing Project, as provided in Section 6 hereof, the County Manager shall prepare a Plan (herein- after called the "Financial Plan") for financing such Housing Project. The Financial Plan shall include at least the following: (a) All pertinent information with respect to the financing of the Housing Project, including data and supporting materials showing the estimated Section 7 of this Agreement; (b) A statement of the cost thereof, as provided in status of the documents pertain- ing to the Housing Project referred to in (c) A statement of the estimated Section 7 hereof; aggregate amount of revenue bonds to be issued or other obligations (i.e., the County Obligations) by the County in such Housing Project; to be incurred connection with 6 (d) A statement showing the amount, type and manner Of obtaining of any Federal or other assistance in connection with the Housing Project, as mentioned in Section 1 (f) of the Ordinance, including citations to the applicable statutes and regulations pursuant to which such assistance is expected to be made available; (e) A statement of the amount and type of any City Assistance and the time and manner of providing the same which the County shall deem necessary or desirable in connection with the financing of such Housing Project; (f) Estimates of the expenses of operating and main- taining the Housing Project; estimates of the rents, fees and other gross income to be derived from the operation of the Housing Project; (g) Estimates of the annual amounts required for the payment of the revenue bonds to be issued by the County or other obligations to be incurred by the County (i.e., the "County Obligations") in connection with the financing of the Housing Project; (h) A full description of such County Obligations, to the extent that may reasonably be possible at such time, including but not limited to estimated maturity dates and interest rates; (i) A statement as to the estimated maximum amount to be paid by the County for the provision of such Housing Project and the maximum net interest cost to be incurred by the County on the County Obligations; and (j) A statement that a Project Contract for the Housing Project consistent with the Financial Plan, as approved by the City and the County, shall be prepared and submitted for approval and execution for and on behalf of the City and the County. DOC F. N TS 7 .(k) A statement of the basis of computation and the tanner of payment or payments to be made by the County to the City in lieu of taxes. Each such Financial Plan shall, in addition, provide expressly that after every County Obligation issued or incurred, pursuant to the Ordinance and this Agreement, has been paid in full or otherwise satisfied, or that sufficient funds for such payment are held in trust (or in an otherwise earmarked account or fund) therefor, any monies then remaining in the hands of the County or in any fund theretofore established by the County, or in the hands of any agent or depositary of the County, con- sisting of or derived from a fund or funds representing City Assistance, shall be repaid to the City or to the trust fund or other fund from which such City Assistance was originally made available to the County, together with accrued interest or other income, if any. Section 10. The Financial Plan shall be submitted to the Board of County Commissioners of the County for approval and upon the rendition of such approval by such Board, to the City for approval by the City Commission. Any such approval by the City Commission shall be subject to the cost and income (revenue) estimates set forth in the Financial Plan, as required by Section 9 hereof. Section 11. As promptly as practicable after the City Com- mission shall have approved the Financial Plan, the County shall advertise for competitive bids for the provision of the Housing Project and upon the receipt of bids therefor shall open and examine the same, and shall either award the contract or contracts, or reject all bids and re -advertise for new bids. Section 12. When the Financial Plan shall have been approved as above provided, and a contract or contracts for such Housing Project awarded, the County shall promptly prepare and • ; r . if) submit to the City a proposed Project Contract respecting the Housing Project which shall be in form and substance substanti- ally as the blank form of Project Contract attached hereto as Exhibit "D", and which shall be in conformity with applicable law, the Ordinance and this Agreement. If the City approves such Project Contract, it shall btu duly execntPd by the City Manager for and on behalf of the City, and submitted to the County for approval and execution by the County Manager for and on behalf of the County. IN WITNESS WHEREOF, the CITY OF MIAMI, FLORIDA, has caused this Agreement to be executed in its name and behalf by its City Manager and its official seal to be hereunto affixed and attested by its City Clerk or a Deputy City Clerk thereunto duly authorized; and DADE' COUNTY, FLORIDA, has caused this agreement to be executed in its nape and behalf by its City Manager and the official seal of the Board of County Commissioners to be hereunto affixed and attested by the Clerk or a Deputy Clerk of said Board thereunto duly authorized, as of the day of CITY OF MIAMI, FLORIDA ATTEST: By City Clerk City Manager (CITY SEAL) ATTEST: Clerk of the Board of County Commissioners (COUNTY SEAL) DADE COUNTY, FLORIDA , 1976. By •ir . EXHIBIT A OI:DINA";CE NO, 85.4 1N EMERGENCY ORDIN:ANCI': I\1.1TIiORIZT:.0 T ri•: 'ISSUANCE SUBJECT TO APPROVAL OF THE ELECTORS AT THE 7;Lr;CT tON IIE:i:EIN PROV:f i) 7D FOR, OF $ 2 5 , 000 , 000 IIC)US 1 :::I BONDS O1' THE CITY OF MIAr4I, FLORIDA, FOR THE PURPOSE OF PROVIDING HOUSING IN THE CITY OP MIAMI FOE FA'1ILIyS :.';D PERSONS, INCLUD- ING TILE ELDERLY, OF LO,•i OR i:OI)i:RA'i'.. INCOME, BY ASSIST- ING I):\DE COUNTY IN FINANCING THE CC:I'i' THEREOF; PROVIDING TU/VI' 'PII1S ORDINANCE SIIALL GC) INTO EFFECT Ifi' 11)IATELY UPON ITS PASSAGE; DECLARING AN E::1Ei-,,.IENCY AND DISPENSING WITH THE READING OF THIS ORDINANCE ON TWO SEPARATE DAYS BY A VOTE OF NOT LESS THAN FOUR -FIFTHS OF THE COMMISSION AND RI::PKALING ORDINANCE NO. 8511. BE IT ORDAINED BY TIIE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The Commission of The City of Miami has determined and does hereby find and declare that: (a) there exists in The City of Miami a serious shortage of safe and sanitary dwelling accommodations available at rents and costs which fani.1.i.2s and persons, incLudir.g the elderly, of low or moderate inc=cr car; afford and that the shortage of such dwell- ing accommodations canr,ot i'c relieved t1,rc.;gh Fecic!ra1 housing pro- grams as prC'Cen. ac:-. i ni sterC d or tl;roug . existing public or private house programs without the assistance pro'. ided herein and such shortage of dwelling accommodations constitutes a menace to the health, safety, morals and welfare of the people of the City, impairs economic values and imposes excessive burdens upon the City's financing of public works and facilities; (b) the term "families and persons, including the elderly of low or moderate income!" a.; used in this Ordi Jr rneo is intended to embrace families and persons having i nco: which under applicable law then in force m:tl;c' ; them legally cl i t i ?:l e for the housing that shall be assisted with proceod:; of such l'o::dn under the provi:.i.onn of this Ordinance; (c) since adt Cu . t c' federal, state and private resources aro presently not available to relieve such s'hortacre, it is necessary "SUP7DRTIVE DO'L,u;,iLi\J rs FOLLOW" 10 and in the public interest for. The City of Miar:.i to issue its bonds to ret'ive such shortage of safe and sanitary de.;ell ing accommoda- tions by providing financial assistance which shall result in the production within the City of the greatest feasible volume of housing for families and persons, including the elderly, of loz or moderate income, as promptly as practicable; • 11 (d) bade County (the "County") is organized, empowered and capable of providing such housing for families and persons Of low or moderate income, and The City of Miami (the "City") and the County are authorized under applicable law to enter into agreements :whereby the County shall agree to finance such housing and the City shall agree to provide financial and other assistance with respect to such housing; (e) The City, pursuant to any such agreement and within the limitations of this ordinance and applicable law, shall provide such assistance by using the proceeds of said bonds and otherwise as will enable the County to finance such housing in the City for families and persons, including the elderly, of low or moderate income ;:'_io shall be legally qualified for such housing under the applicable law in force at the time such assistance is provided by the City to the County; (f) In acicilLion to any other assistance that the City may provide under anv r_grec: iunt with the County, the City ray use the proceeds of any such bonds to increase the security and marketability of any revenue bonds or other obligations (the "County Obligations") that may be issued by the County to finance such housing; provided that the County shall determine and the City shall concur in such determination, that the County Obligations shall be self liquidating in that the payment of the principal of and the interest on the County Obligations issued for financing such housing call bn }raid in full fro:.i rents, charges and fees collected by the County therefor and fret federal., state and private grants, contributions and other incoe Lnci Ii!:.:i y made available therefor (exclusive of any pruce ds of said 1ynnds of th,) City); (g) the :il!C)t't ctC(C' or such safe and sanitary c1 :c'l.l i n;j aeco:1!wo- datiOns constitutes on emergency Iilit:: i ?tij this [ )rctl.Il::nce on emergency Ordinance within the n!canituj of Srnct ion 166,0:1 (3) (i) , Florida fitatut_es, 12 Section 2, For the purpose of providing housing in The City of Miami for families and persons, including the elderly, of low or moderate income, as such term is defined in Sec- tion 3 of this Ordinance, by using the proceeds of such bonds to assist the County in financing such housing in the City as herein provided, including increasing the security and market- ability of County Obligations that shall be issued by Dade County to acquire, construct and rehabilitate such housing, on a self-liquidating basis as provided in this Ordinance, there shall be issued under the Constitution and laws of the State of Florida and pursuant to the provisions of the Charter of the City of Miami, as amended, and the Code of The City of Miami, as amended, subject to the approval of the electors at the election hereinafter provided for, bonds of The City of Miami in an aggregate principal amount: not exceeding Twenty -Five Million Dollars ($75,0f0,C L) , such bond:; to be issued at one time or from time to tir:.e and to mature in annual installments not exceed- ing thirty (30) years from their respective date or dates, it being estimated and declared by the Commission of the City of Miami that the probable life of said housing is more than thirty (30) years after the completion of construction or rehabilitation of said housing. Such bonds; shall b3 issuable as coupon bonds in denomi- nations of $ 000 each and as registered bonds without coupons in dci om i rin t i c,nr of $ 5 , 000 c'rrch or any r•:si 1 t i pl e thereof and shall bear interest at a rate or rates not. exceeding the maximum um lawful rate its shall 1 •e dc: t * rt i ned at the time of sale thereof, such int.c'r.c st being payable semi-annually. The Con;ai.:�•_i.on of. the City reserver; the right to make All . or any part of such bonds redeemable prior tcI their 1. e pact iv 13 :: a maturities at such times and prices and u-:des such terms and conditions as may be fired by resolution prior to the sale of the bonds. Section 3. The term "families and persons, including the elderly, of low or moderate income", as used herein shall mean and include families or persons whoe income is not sufficient to enable them, without financial assistance, to live in decent, safe and sanitary dwellings without overcrowding in The City of Miami. Such term, for the purposes of this Ordinance and with respect to any housing assisted by the City hereunder, is in- tended (i) to include only such families and persons whose annual income with any rent supplements, grants or other assistance provided by any federal, state or private agencies shall be at least sufficient to enable them to pay the rent or other costs for such housing and (ii) to exclude any families or persons whose annual income shall be at so high a level that the City cannot under the 1c:•:: then in force assist the financing of housing which is available for occupancy by such families or persons. It is presently estimated, upon the basis of housing costs and rents and family and personal incomes, that a substantial segment of the families and the persons in The City of Miami are families and persons of low or moderate income as such term is used herein. Section 4. The City of Miami shall enter into one or more agreements with the Coutit.y providing for the application of the proceeds of such bonds in accordance with the provisions of this Or.d.i nines'. Such n(Jrecmc'.ltt or agreements shall provide that such proceeds eha11_ be held in a trust_ fund end invented and reinvested by the City and the eerni ncjs and 1 owes shall be credited or charged to such trustfund and shell further provide that .r1l. or any portion of the money in such t rust. fund may be used to assist. the County in f i tianci ng such housing in the City and nizty "SUPPORTIVE DOCU M``ENTS 14 // ON also be used to increase the security a:._'. ra '.etal,ility of such County Obligations", as shall_ be mutually agreed upon which are issued by the County from time to time to acquire, cons'..ruct and rehabilitate housing in thc' City of Mi i for families and persons, including the elderly, of low or moderate income. Money in such trust fund shall be transferred by the City to the County in accordance with such agreement or agree -tints. Any of such motley in such trust fund pledged to increase the security of the County Obligations shall be deposited to the credit of one or more debt service or similar reserve funds which shall be established under the proceedings for the issuance of, or the trust agreement, if any, securing, such County Obligations. Section 5. For the prompt payment of the principal of and the interest on such bonds, there shall be levied and collected annually a general tax upon all taxable property within The City of Mi.arni, over and above a] 1 other taxes authorized to be levied by the Ci t.y, suffi ci cnt to pay such principal and interest as the same resj cti.vely become due rinc1 payable. Section 6 . A special election is Lereby called to be held on the 9th dal of :'arch, 1976, for the purpose of submitting to the electors of the City authorized by law to participate in such election the question whether such bonds shall be issued. Section 7. Pursuant to Section 58 of the Charter of. the City, this Ordinance shallgo into effect immediately upon its passage and shall. not 1:<' subject to the right of reforcndem. Section f,. The re:juir'c•ii nt. of rea'f.incj thi: Ordinance on two separate d ly;: is here y titdispensed IT a vote of not ) c:s;ft than four -fifths ctf. the tr: tlt1,; l :; of the Co!In i s:;.ion and this Ordinance, hei IIg an C`!ili'rgc'ncy ord l n.:nco :as dctcrm i ni •d hol ei J1:1bo e, sho1 1 not be subject to the requirements of Section 1C (, 041 (3) (al) , E l `:.. r TORT, VVF 15 FloridaStatutes (such four -fifths vote 1"H_n,J more. than the two-thirds vote required for the enactr", nt of emergency ordi- nances by Section 166.041 (3) (b) , Florida Statutes) . Section 9. Ordinance No. 8511 passed and adopted on January 22, 1976 is hereby repealed. PASSED AND ADOPTED this 4th day of February 1976. ATTEST: CITY CLERK MAURICE A. FERRE APPROVED AS TO FOR'. AND CORRECTNESS : _,I__/_ ( l 1C-, j - ." /-/'./ (OIIN S . L,IiOYD - C A :61: EY 'SUPPORTIVE ..; _ . . - 4 i f. EXHIBIT B ORDINAtlCE NO. 8515 AN: EMERGENCY ORDINANCE PROVIDING FOR THE MOLDING OF A SPECIAL BOND ELECTION IN TEIE CITY OF MIAMI, FLORIDA, ON MARCH 9, 1976, UPON THE QUESTION OF ISSUING $25, 000, 000 HOUSING BO;II)S OF SAID CITY; REPEALING ORDINANCE NO. 3512; AND DISPENSING WITH THE READING OF TIIIS ORDINANCE ON TWO SEPARATE DAYS BY A VOLE OF NOT LESS THAN FOUR -FIFTHS OF THE COiLNISSION. WHEREAS, the Commission of the City of Miami in Ordinance No. 8514 has determined, found and declared that there exists in the City of Miami a serious shortage of safe and sanitary dwelling accommodations available at rents and costs which families and persons, including the elderly, of or moderate low/income, can afford and that the shortage of such dwelling acco.-:-.odatiois cannot be relieved through Federal housing progrc.--.,i as presa�^tly administered or through existing public or private housing programs without the assistance provided herein and such shortage of dwelling accommodations constitutes a menace to the health, safety, morals and welfare of the people of the City, impairs economic values and imposes exces- sive burdens upon the City's financing of public works and facilities; and WHEREAS, such finding and declaration by the Commission constitutes an emergency which creates a need for a special bond election at the earliest possible date; and WEE!~:RFAS, there wi11. he .in election scheduled on March 9, 1976, on which ele•cLi.on the qqution of issuing the proposed $25, 000, 000 housing pond issue is to be presented to the voters of the City of Miami; NOW, THEREFORE, BE IT OI D: NEE BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA; DOrtjiL" I F L. 17 Section 1. Notice of the special bond election hereto- fore called by Ordinance No. 8514 to be held on Tuesday, March 9, 1976, shall be officially published in The Miami News and The Miami Herald, and shall be published for informational purposes only, in Spanish, in D.iario Las Americas (newspapers of general circulation published in the City of Miami, Florida), at least once each week for four consecutive weeks before said election, the date of the first publication in each of said newspapers to be at least thirty (30) days before said election, which notice shall be substantially in the following fora; NOTICE OF SPECIAL BOND ELECTION To Be Held On TUESDAY, r:...RcH 9, 1976 in THE CITY OF MIA.•MI, FLORIDA As provided by Ordinance to. 8514 duly adopted by the Commission of the City of Miami., Florida, a special election will be held on Tuesday, March 9, 1976 for the purpose of submitting to the qualified electors of the City of Miami, Florida, the following question: Shall bonds of the City of Miami in an amount not exceeding $25,000,000 be issued under Ordinance No. 8514 to provide housing in the City of f•tiami for families and persons of low or moderate income qu.ilif_yinq therefor under the then applicable law, by using the proceeds of the bovde to assist Dade County in financincj such houincj in the City of Miami or to increase the security of any Dads' County Obligations issued for such housin•; in the City of Miami, such bonds to rl.iturc in annual inst:lll- ments not exceeding thirty (30) y::l!-s fro:A their respective dates, to h. ,.r interest at a gate or rate; not o::cocd i r j t h_, maximum 1 a: f u l rate .it the time of sale, and to be payable from ad valorem taxes? The Ordinance authorizing the issuance of the bonds Men- tinned above provides that for the prompt payment of the principal of and the interest on the bonds there shall be levied and collected annually a general tax upon all taxable property within the City of Miami, over and above all other taxes authorized to be levied by the City of Miami, sufficient to pay such principal and interest as the same respectively become due and payable. The Commission of the City of Miami reserves the right to make all or a part of the bonds redeemable prior to their respective maturities at such times and prices and under such terms and conditions as may be fixed by resolution prior to the sale of the bonds. The polls at said election will be open from 7:00 o'clock A.M. until 7:00 P.M. on said date, and the polling places to be used in said special bond election shall be those designated by Metropolitan Dade County for such purpose. In accordan::2 with the Constitution and election laws of the State of Florida, the Charter of the City of Miami and the decisions of the Florida Supreme Court in State v. City of Miami Beach, 245 So. 2d 863 (Fla. 1971) and State v. City of M•Miami, 260 So. 2d 497 (Fla. 1972) , the Commission of the City of Miami has determined to ho1:3 a special bond election at which all qualified electors of the City shall be entitled to vote. Accordingly, there shill be entitled to vote in the special bond election to which this notice pertains all qualified electors of the City of Miami, Florida. The City of Miami shall he authorised to issues the bonds covered by the question horei.n.tbo o sot forth if such issuance 19 V.v./ shall have been approved by vote of a majority of the qualified electors of the City of Miami voting thereon. By order of the Commission of the City of Miami, Florida. City Clerk Section 2. A description of the registration books and reoords which pertain to election precincts wholly or partly within the City and which the City is adopting and desires to use for holding such special bond election is as follows: All registration cards, books, records and certificates pertaining to electors of the City and established and maintained as official by the Supervisor of Elections of Dade County, in conformity with the provisions of the general laws of the state, - .i and h> hereafter be are hereby �.Cl�_�� ,:r:-? declared to be, shall he L er � recognized arel. accepted as, official registration cards, books, records and certificates of the City. Section 3. Said special bond election shall be held at the voting places in the several precincts, respectively, in the City as set forth in the foregoing NOTICE OF SPECIAL BOND ELECTION. The inspectors and clerks of election appointed for each precinct in the City by the Board of Commissioners for Dade County for the presidential preference primary to be hold on March 9, 1976, shall be the election officers who shall conduct said special bond election. Section 4. The Supervisor of Elections of Dade County is hereby requ' :ted, authorized and directed to furnish, at the cost and expenne of the City of Miami, a list of all qualified o eet•or;.: "SUPPORTIVE S DOCUMENTS Flit! LO 20 ire the City of Miami as shown by the registration books and "records of his office and to duly certify the same for delivery to and use of the election officers designated to serve at the respective polling places in said election precincts. Section 5. The City Clerk of the City of Miami, Florida, is hereby designated and appointed as the official representative of the Commission in all transactions with the Supervisor of Elections of Dade County in relation to matters pertaining to the use of the registration books and the holding of said special bond election. Section 6. The ballot used in said special bond election for voting on the question submitted shall be that portion of the cardboard or paper or other material within the ballot frames of the voting machines which will contain a statement of the question submitted substantially in the following fora: Shall bonds of the City of Miami in an amount not e::ceec in j $25,000,000 be issued under Ordinance No. 8514 to provide housing in the City of 'r'iaii for families and persons of lo-.; or moderate income qualifying therefor under the then applicable law, by us'ng the proceeds of the bonds to assist Dade County in financing such housing in the City of Miami or to increase the security of any Dade County Obligations issued for such housing in the City of Miami, such bonds to mature in annual install- ments not exceeding thirty (30) years from their respective dates, to bear interest at a rate or rates not exceeding the maximum lawful rate at the time of sale, and to be payable from ad valorem to:•:cs? Section 7. Electors desiring to vote for the issuance of said bonds shall be instructed to turn down the pointer or over the word "FOR" within the ballot frame containing the statement: of the question relating Lo such boncin, and electors desiring to vote aLjil irlst the issuance Of said bond shall bo instructed to turn down the pointer or lever over the word lever 21 "AGAINST" within the ballot frame containing the statement of the question relating to such bonds. Section 8. The City Clerk shall cause to be prepared absentee ballots containing the questions set forth in Section 6 above for the use of absent electors entitled to cast such ballots in said election. Section 9. Ordinance No. 8512, passed and adopted January 22, 1976, be and is hereby repealed. Section 10. This Ordinance shall go into effect immediately upon its passage and shall not be subject to the right of refer- endum as an ordinance. Section 11. The requirement of reading this Ordinance on two separate days is dispensed with by a vote of not less than four -fifths of the members of the Commission. This Ordinance is an emergency ordinance for the reasons stated in said Ordinance No. 851 and this Ordinance shall not be subject to the require- ments of Sectio-: 166.041(3)(a), Florida Statutes (such four -fifths vote being more than the two-thirds vote required for the enactment of emergency ordinances by Section 166.011(3)(b), Florida Statutes). PASSED AND ADOPTED this 1976. ATTEST: a CITY CLERK 4th APPROVED AS 'ro F'Of7.1 AND CORP,ECTN►.SS: r/ (1/ ,/ • Oii:1 S. LLOYI) �_-.T �ii'Y h1"►0it5: ,'i i 22 day of February MAURT_CE A. FE2RE MAYO R "SUPPORTIVE DOCUMENTS FOLLOW" EYEE1.l CT C: RFC/rb 3/19/76 RESOLUTION i;o. 76-33g RESOLUTION CERTIFYING AND DECLARING THE RESULTS OP 'TIC; SPECIAL PO::') ELECTIN HELD) MARCH r), 1976 AS BEING AN ElPPROVA1, 0[' THE CITY' S ISSUAN:CE: OP THE BOND;_; THEREUNDER; R; ?URTEIER AUTHORIZING AND DIRECTING T;1:: PROPER CITY OFFICERS TO PERE'OR:•; ANY AND ALL INCIDEN- TAL DUTIES AND TO TAKE APPRC)PRIATE: PROCEEDINGS IN CONNECTION WITH THE ISSUANCE OF SAID BONDS AS REOUIRID BY LAW. BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MI 1MI, FLORIDA: Section 1. The returns of the special bond election held on March 9, 1976, having been received from the election officials of each of the voting precincts within the City of ,Miami and the Co.mission having duly canvassed such returns hereby declares: (a) Said clectior was duly and properly held and notice thereof ,.as d•a ly given it accordance with law and Ordi.r.ancr� No. 8515 massed and adopted February 4, 1976, and entitled: AN EMERGENCY ORDINANCE PROVIDING FOR THE HOLDING OF A SPECIAL BOND ELECTION IN THE CITY OF MIAMI, FLORIDA, ON MARCH 9, 1976, UPON THE QUESTION OF ISSUING $ 25, 000, 000 HOUSIN:, Bo :DS GF SAID CITY; REPEALING ORDINANCE NO. 85127 AND DISPENSI::G WI:TH THE: RE:.D I ':r: Ci' THIS ORDINANCE O" 'i'::O SEE .' i:ATE DAYS PY A. VOTE OP r:oT LES:i THAN FOUR-FIFTE:S OF THE CO'.::•EISS IoN (b) All steps in conr,c'rtion with (And leading up to said spacial c'lcctiun ::< rc duly, rcgul.:rly and law- fully tal;r:n and 11:t:1; .ntci all appl ic;:� lc' prow it- i.ottt of the Constitution and Statutes of tho St::tc! of. Florida and of said ord initrtce 1t:t':. 1.0t.. t fully c•ot;'pl i ecl with. (c) '1.Ite+ cl carl: of each olect• ion precinct in the City h.ct duly return:1 td1 i Yt.C':v'�'?3};:-N MEETING OF 23 • RFC/r'r 3/19/76 i YIt1.Ei 11' C C 7 RESOLUTION ;O. v-33 A RESOLUTION CERTIFYING A::) I)!X:LAf.T';t: THE RESULTS or 'I'E11 SPECIAL f O:.r) EL,E:C`I'1():. HELD MARCH ^, 1976 AS BEING AN APPROVAL OF THE CITY' S ISSUANCE OF THE BOND:; THEREUNDER; FURTHER AUTHORIZING AND DIR CTIEO THE PROPER CITY OFFICERS TO PERFOP ANY AND AI,U. INCIDEZ:- TAL DUTIES AND TO TAP:E APPROPRIATE PROCEEDINGS IN CONNECTION WITH THE ISSUANCE OF SAID BONDS AS REOUIRI'D BY LAW. BE IT RESOLVED BY THE COMMISSION OF THE CITY OE MtAMT, FLORIDA: Section 1. The returns of the special bond election held on March 9, 1976, having been received from the election officials of each of the voting precincts within the City of Miami and the Cor..m15sion having duly canvassed such returns hereby declares: (a) Said electior ::as duly and properly held and notice tr:erHof ::as duly given in accordance with law and Ordinance No. 8515 passed and adopted February 4, 1976, and entitled: AN EMERGENCY ORDINANCE PROVIDING FOR THE HOLDING OF A SPECIAL BOND ELECTION IN THE CITY OF i•MIAMI, FLORIDA, ON MARCII 9, 1976, UPON THE QUESTION OF ISSUING $25,000,000 HODS IY'. BONDS OF S:':ID CITY; REPEALING ORDI:: ACE NO. 8512; AND DISPENSING WITH TUl: RE..D I .:': CE THIS Ci.Di ` ANCE ON TWO SE.E' F:AT E DAYS EY A VOTE OF NOT LE:S:; THAN FOUR--FIFT:iS OF THE CU''.:•I I SS IoN (b) All step:; in conr,ction with and loading up o said Sl'1C'Cldl bur:: election werc. duly, regularly and law- fully talr:fl and 11.1d; and all appl ic.:° l . provision LAC the Constitution and Statuto:i of tht' ;;t.tt.c' of Florida and of said ordinance have 1,et.n fully cot.'c;l ii'cl with, (c) Thert` r» ct.(•,r :; and of each ota.'CI ion precinct ill the City h.i', t.• duly n;,,d. 93 rc'tul u t►s t d to i Y(. O,44 :*; Tf.) N MMEETING Oi= MAR 25 r of the results of the election in e•:ch such precinct o: the question submitted at said election. (d) At said election there was submitted to the qualified electors of the City of Miami, Florida the following questions Shall bonds of the City of Miami, in an amount not exceeding $25,000,000 be issued under Ordinances No. 8514 to provide housing in the City of. Miami for families and per- sons of low or moderate income qualifying therefor under the then applicable law, by using the proceeds of thebonds to assist Dade County in financing such housing in the City of Miami or to increase the security of any Dade County obligations issued for such housing in the City of Miami, such bonds to mature in annual installments not exceed- ing thirty (30) years from their respective dates, to hear interest at a rate or rates not exceeding the maximum lawful rate at the time of sale, and to re payable from ad valorem taxes? (e) Each qualified elector of the City of Miami Was given the opportunity of voting for or against the issuance of said eonds. Section 2. It is hereby found and determined (a) that 20,739 votes were cast by qualified electors in favor of the issuance of said bonds; (b) that 18,268 votes were cast by qualified electors against the issuance of said bonds; (c) that the Commission hereby declares and certifies that the issuance of said $25,000,000 housing bonds of the City of Miami was approved by the qualified electors of the City of Miarni at said special bend election; (d) that the total number of ballots east at said special bond election in the 87 voting precincts was 33,007 ; and (e) that a majority of the votes cat in said tvac1 ol.c';: t i on wore in favor of approving the issuance of said honds . Section 3. The proper oCEicer, of the City. of Miamiatre hereby author i::c•c1 and directed to perform any art i 24 its IPPfRTIVE -14 • all incidental duties and to take appropriate Proceedings ih connection herewith as required by law. PASSED AND ADOPTED tthi.::25d��y of MARCH 1.976. qT H, D, •UTHERN CITY CLERK PREPARED AND APPROVED BY: ROBERT F. CLERK Assistant City Attorney MAURICE A, FERRE MAYOR ,_,,,,,, APPROVED AS TO FORM AND CORRECTNESS: JO N S . LLOYD cy Attorney "SUPPORTIVE DOCUMENTS 25 EXHIBIT D PROJECT CONTRACT RELATING TO HOUSING PROJECT IN THE CITY OF MIAMI DESIGNATED " THIS PROJECT CONTRACT, dated as of 197 , by and between THE CITY OF MIAMI, a municipal corpora- tion (hereinafter called the "City") and DADE COUNTY, FLORIDA, a county (hereinafter called the "County"), in the State of Florida; ITNESSETH In consideration of the covenants and agreements herein contained to be performed by the City and the County and other good and valuable consideration paid by each of the parties to the other, tho receipt of which is hereby severally acknowledged, THE CITY OF MIA4i, FLORIDA, and DADE COUNTY, FLORIDA, hereby agree as follows: Section 1. This Contract is executed and delivered pursuant to that certain Agreement designated, AGREEMENT FOR FINANCING HOUSING IN THE CITY OF MIAMI BY AND BETWEEN DADE COUNTY AND THE CITY OF MIAMI, by and between the City and the County, dated as of 197 (herein called the "Basic Agreement"). This Contract supplements the Basic Agreement and it is intended that the Basic Agreement and this Contract shall be part of an overall agreement between the City and the County. Words and terms used in this Contract which are defined in the Basic Agreement shall have the same meanings as in the Basic Agreement. If any provision of this Contract shall be in conflict with the Basic Agreement, the Basic Agreement shall be controlling unless this Contract expressly provides to tht.! contrary. «SU P�0fni\1E: , -ap 26 Section 2. The County and the City hereby covenant and represent that each of them is authorized to enter into and to be bound by this Project Contract and to do all of the acts and things and to perform all of the obligations undertaken by each of them pursuant to this Project Contract and the Basic Agreement. Section 3. The County and the City hereby agree to cooper- ate in providing and financing a certain Housing Project located within the corporate boundaries of the City at and described as follows: [Here include a description of the Housing Project sufficient to indicate its general scope, nature and size in terms of housing units, etc.] (herein called the "Housing Project"). Section 4. It is estimated that the total cost to the County of providing the Housing Project, including financing costs, shall be DOLLARS ($ ). The County agrees to undertake, carry out and complete such Housing Project in accordance with the plans, specifications, contracts and other contract documents approved by the City, as expeditiously as practicable. The County further agrees that it shall issue its revenue bonds (herein called the "County Obligations") in the principal amount of $ to pay, with other funds available therefor, the entire cost of the Housing Project. [If other means of financing are utilized, make appropriate reference thereto.] [This paragraph should, in addition, describe the typo and amount of state and/or federal aid to be obtained in connection with the Housing Project to be provided pursuant to the Project Contract, including reference to statutory or other authority, including agency regulations.] DC'( ' 1 1 T FOLLOKV 27 Section 5. In order to assist the County in financing the Housing Project and to increase the security and market- ability of the County Obligations, the City, pursuant to the Basic Agreement and this Contract, hereby covenants and agrees to provide City Assistance for financing the Housing Project through the use of proceeds of City Bonds as herein provided. As City Bonds are issued and sold by the City from time to time, the net proceeds thereof remaining after deducting all costs and expenses of or attributable to such issuance and sale shall be paid into a trust fund or other earmarked account established in a bank or other depositary by the City and shall be held, admini- stered, invested and re -invested by the City for the purposes provided in the Ordinance, the Basic Agreement and this Project Contract. Earnings and profits derived from such investments shall be credited and losses shall be charged to such fund. Section 6. From the monies paid into such fund, the sum of $ shall be made available by the City as City Assistance to assist the County in financing the Housing Project. Such sum shall be transferred by the City to the County contem- poraneously with the delivery by the County of its County Obliga- tions and/or the receipt by the County of the proceeds of such obligations. Such transfer shall be effected by the payment or deposit to the credit of a County debt service or similar reserve fund to be established by the County, with a trustee or other fiscal agent to be appointed by the County, pursuant to a trust agreement, ordinance or resolution,exccut`d or adopted by the County, securing the County Obligations issued for the Housing Project. Such fund shall be held and administered by the trustee or fiscal agent as additional security for the County Obligations issued or incurred for the purpose of financing the Housing Project and shall be held, administered, applied or otherwise used for the Housing Project in the manner and for the purposes provided in the Basic • • 28 Agreement, in this Project Contract and in the aforesaid trust agreement, ordinance or resolution authorizing the use of such funds to assist in the provision of the Housing Project. IN WITNESS WHEREOF, the CITY OF MIAMI, FLORIDA, has caused this Contract to be executed in its name and behalf by its Mayor or Vice Mayor and its official seal to be hereunto affixed and attested by its City Clerk or a Deputy City Clerk thereunto duly authorized; and DADE COUNTY, FLORIDA, has caused this Contract to be executed in its name and behalf by its Mayor or Vice Mayor and the official seal of the Board of County Commissioners to be hereunto affixed and attested by the Clerk or a Deputy Clerk of said Board thereunto duly authorized as of the day of , 1976. CITY OF MIAMI, FLORIDA ATTEST: By City Clerk Mayor (CITY SEAL) ATTEST: Clerk of the Board of County Commissioners (COUNTY SEAL) DADE COUNTY, FLORIDA By 29