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File ID: #19183
Resolution
Sponsored by: Mayor Eileen Higgins, Commissioner Rolando Escalona
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE ISSUANCE, SUBJECT TO THE ELECTION HEREIN PROVIDED
FOR, IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING FOUR HUNDRED
FIFTY MILLION AND 00/100 DOLLARS ($450,000,000.00) OF GENERAL
OBLIGATION BONDS ("BONDS") OF THE CITY OF MIAMI, FLORIDA ("CITY"), IN
ONE OR MORE SEPARATE SERIES, TO REPAIR AND REPLACE CRITICALLY
DETERIORATING FIRE AND POLICE FACILITIES, INCLUDING CONSTRUCTING
NEW FIRE STATIONS AND A NEW PUBLIC SAFETY HEADQUARTERS FOR POLICE
AND FIRST RESPONDERS, WITH INTEREST PAYABLE AT RATES NOT EXCEEDING
THE MAXIMUM RATE ALLOWED BY LAW; PROVIDING FOR THE LEVY AND
COLLECTION OF AD VALOREM TAXES TO PAY SUCH BONDS, PROVIDED THAT
THE DEBT MILLAGE NOT EXCEED THE RATE OF 0.5935 MILLS, WITH SAID
BONDS TO BE INCLUDED IN THE CITY'S INDEPENDENT ANNUAL AUDIT
CONDUCTED BY THE CITY'S EXTERNAL AUDITOR; CALLING FORA BOND
REFERENDUM SPECIAL ELECTION AND MAKING PROVISIONS FOR PUBLIC
NOTICES AND HOLDING A BOND REFERENDUM SPECIAL ELECTION ON
NOVEMBER 3, 2026, FOR THE PURPOSE OF SUBMITTING TO THE ELECTORATE
AT SAID ELECTION, WITH RESPECT TO THE ISSUANCE OF SUCH BONDS;
DESCRIBING THE REGISTRATION BOOKS AND RECORDS MAINTAINED UNDER
THE PROVISIONS OF THE GENERAL LAWS OF FLORIDAAND OF THE CHARTER
AND CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, WHICH THE CITY
HAS ADOPTED AND DESIRES TO USE FOR HOLDING SUCH BOND REFERENDUM
SPECIAL ELECTION; DESIGNATING AND APPOINTING THE CITY CLERK AS THE
OFFICIAL REPRESENTATIVE OF THE CITY COMMISSION WITH RESPECT TO THE
USE OF VOTER REGISTRATION BOOKS AND RECORDS; AUTHORIZING AND
DIRECTING THE CITY CLERK TO PUBLISH NOTICE OF THE ADOPTION OF THIS
RESOLUTION AND THE PROVISIONS HEREOF PURSUANT TO APPLICABLE LAW;
AND DIRECTING THE CITY CLERK TO CAUSE A CERTIFIED COPY OF THE
HEREIN RESOLUTION TO BE DELIVERED TO THE SUPERVISOR OF ELECTIONS
FOR MIAMI-DADE COUNTY, FLORIDA, PURSUANT TO APPLICABLE LAW NOT
LESS THAN FORTY-FIVE (45) DAYS PRIOR TO THE DATE OF SUCH BOND
REFERENDUM SPECIAL ELECTION; CONTAINING A REPEALER PROVISION AND
A SEVERABILITY CLAUSE; PROVIDING FOR AN IMMEDIATE EFFECTIVE DATE
FOR THIS RESOLUTION.
City of Miami
Legislation
Resolution
Enactment Number: R-26-0297
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 19183 Final Action Date:7/9/2026
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE ISSUANCE, SUBJECT TO THE ELECTION HEREIN PROVIDED
FOR, IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING FOUR HUNDRED
FIFTY MILLION AND 00/100 DOLLARS ($450,000,000.00) OF GENERAL
OBLIGATION BONDS ("BONDS") OF THE CITY OF MIAMI, FLORIDA ("CITY"), IN
ONE OR MORE SEPARATE SERIES, TO REPAIR AND REPLACE CRITICALLY
DETERIORATING FIRE AND POLICE FACILITIES, INCLUDING CONSTRUCTING
NEW FIRE STATIONS AND A NEW PUBLIC SAFETY HEADQUARTERS FOR POLICE
AND FIRST RESPONDERS, WITH INTEREST PAYABLE AT RATES NOT EXCEEDING
THE MAXIMUM RATE ALLOWED BY LAW; PROVIDING FOR THE LEVY AND
COLLECTION OF AD VALOREM TAXES TO PAY SUCH BONDS, PROVIDED THAT
THE DEBT MILLAGE NOT EXCEED THE RATE OF 0.5935 MILLS, WITH SAID
BONDS TO BE INCLUDED IN THE CITY'S INDEPENDENT ANNUAL AUDIT
CONDUCTED BY THE CITY'S EXTERNAL AUDITOR; CALLING FORA BOND
REFERENDUM SPECIAL ELECTION AND MAKING PROVISIONS FOR PUBLIC
NOTICES AND HOLDING A BOND REFERENDUM SPECIAL ELECTION ON
NOVEMBER 3, 2026, FOR THE PURPOSE OF SUBMITTING TO THE ELECTORATE
AT SAID ELECTION, WITH RESPECT TO THE ISSUANCE OF SUCH BONDS;
DESCRIBING THE REGISTRATION BOOKS AND RECORDS MAINTAINED UNDER
THE PROVISIONS OF THE GENERAL LAWS OF FLORIDAAND OF THE CHARTER
AND CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, WHICH THE CITY
HAS ADOPTED AND DESIRES TO USE FOR HOLDING SUCH BOND REFERENDUM
SPECIAL ELECTION; DESIGNATING AND APPOINTING THE CITY CLERK AS THE
OFFICIAL REPRESENTATIVE OF THE CITY COMMISSION WITH RESPECT TO THE
USE OF VOTER REGISTRATION BOOKS AND RECORDS; AUTHORIZING AND
DIRECTING THE CITY CLERK TO PUBLISH NOTICE OF THE ADOPTION OF THIS
RESOLUTION AND THE PROVISIONS HEREOF PURSUANT TO APPLICABLE LAW;
AND DIRECTING THE CITY CLERK TO CAUSE A CERTIFIED COPY OF THE
HEREIN RESOLUTION TO BE DELIVERED TO THE SUPERVISOR OF ELECTIONS
FOR MIAMI-DADE COUNTY, FLORIDA, PURSUANT TO APPLICABLE LAW NOT
LESS THAN FORTY-FIVE (45) DAYS PRIOR TO THE DATE OF SUCH BOND
REFERENDUM SPECIAL ELECTION; CONTAINING A REPEALER PROVISION AND
A SEVERABILITY CLAUSE; PROVIDING FOR AN IMMEDIATE EFFECTIVE DATE
FOR THIS RESOLUTION.
WHEREAS, the City of Miami ("City") is a modern and diverse city that is a global
leader in technology, innovation, and resiliency; and
WHEREAS, the City is committed to elevating the quality of life of its residents by
improving public safety, housing, mobility, diverse shared spaces that foster community,
an efficient and transparent government; and
WHEREAS, the City of Miami Police Department ("Miami Police Department")
and City of Miami Department of Fire -Rescue ("Miami Fire -Rescue") serve nearly half a
million residents and millions of visitors each year, placing themselves in harm's way
daily to ensure public safety; and
WHEREAS, the Miami Police Department maintains public order and provides
essential public safety services, including crime prevention, emergency response,
criminal investigations, and traffic enforcement; and
WHEREAS, Miami Police officers serve as first responders and community
partners, providing assistance during critical incidents, natural disasters, and medical
emergencies, while building trust through community outreach and sustained
collaboration with residents, businesses, and other government agencies; and
WHEREAS, the Miami Police Department has consistently delivered measurable
public safety gains, including sustained and significant reductions in violent crime in
recent years; and
WHEREAS, in 2025, the Miami Police Department achieved an additional 20%
reduction in violent crime, contributing to the lowest homicide rate per capita in the City
since 1956; and
WHEREAS, these outcomes have solidified the Miami Police Department's
standing as one of the nation's premier high -performing urban police agencies; and
WHEREAS, Miami Fire -Rescue provides critical, life-saving emergency response
services across the City, including fire suppression, emergency medical services,
disaster preparedness, and the operation of specialized units including technical rescue,
dive rescue, fireboats, and hazardous materials response; and
WHEREAS, in 2025, Miami paramedics and firefighters responded to over
99,197 calls citywide, of which 75,596 were for emergency medical services; and
WHEREAS, Miami Fire -Rescue conducts citywide public safety functions
including fire inspections and coordination with local, regional, and statewide partners
during large-scale events and emergencies, while maintaining 24-hour, 7-day
operational readiness throughout the City; and
WHEREAS, Miami Fire -Rescue holds an Insurance Services Office (ISO) Class
1 Public Protection Classification, the highest rating achievable, reflecting a department
that consistently delivers excellence in emergency response under demanding
conditions; and
WHEREAS, Miami's first responders represent the City at its best, and the quality
of the facilities they work from should reflect that; and
WHEREAS, despite the Miami Police Department's and Miami Fire -Rescue's
reputation for exemplary service, professionalism, and results, their ability to carry out
their respective duties at the highest level is limited by outdated, undersized, and
deteriorating facilities; and
WHEREAS, many Miami Police Department and Miami Fire -Rescue facilities are
approaching, have reached, or have exceeded their useful life; and
WHEREAS, the current Miami Police Headquarters, opened in 1976 and
designed to house approximately 560 officers, now serves nearly 1,390 sworn
personnel and nearly 400 professional staff, far exceeding its intended capacity and
limiting its ability to support and expand modern policing operations; and
WHEREAS, decades of deferred maintenance have left the facility in conditions
that are unfit for the City's first responders and incompatible with the demands of a
modern police department; and
WHEREAS, the Miami Police Headquarters has experienced and will continue to
experience significant infrastructure failures, including widespread plumbing
breakdowns resulting in leaks, flooding, and inoperable restrooms, as well as outdated
electrical systems; and
WHEREAS, recurring roof leaks have damaged equipment, disrupted daily
activities, and adversely impacted the working conditions of Miami's first responders;
and
WHEREAS, these leaks result in a cycle of frequent and costly emergency
repairs in a 50-year building that has exceeded its useful life; and
WHEREAS, multiple Miami Fire -Rescue stations across the City are undersized
and in deteriorating condition due to years of deferred maintenance, which limits their
ability to support personnel, modern equipment, and efficient emergency response in a
growing city; and
WHEREAS, a comprehensive assessment of every City fire station has been
conducted, with findings indicating that some stations can be rehabilitated, some require
expansion, and others must be fully rebuilt; and
WHEREAS, of the City's 17 operating fire stations, eight (8) were built more than
50 years ago and two (2) are more than 60 years old and were not designed to meet the
demands of contemporary emergency response operations; and
WHEREAS, advances in firefighting equipment and technology have resulted in
substantially larger vehicles and apparatus than were in use when many of these
stations were constructed, and current stations are too small to safely and efficiently
accommodate them; and
WHEREAS, because some stations cannot house modern emergency response
vehicles, Miami Fire -Rescue is forced to store equipment outside or at distant stations
away from the areas they are intended to serve, impacting readiness and response
times; and
WHEREAS, expansion, modernization and the addition of new stations will lower
call volumes at neighboring stations and shorten response times for residents; and
WHEREAS, the City's firefighters, who live at stations during their 24-hour shifts,
are dealing with inadequate living quarters and restroom facilities, and in some cases,
forced to operate with fewer functional restrooms than necessary due to failed or
insufficient plumbing; and
WHEREAS, the firefighter training center, an essential facility for preparing
firefighters to effectively respond to emergencies, is a 100 year old building that has
experienced such severe and persistent plumbing failures that it has required the use of
portable bathrooms in order to remain operational; and
WHEREAS, investment in modern, safe, and fully functional facilities is
necessary to protect Miami's first responders so that they can continue to protect the
public; and
WHEREAS, new and upgraded facilities will support modern policing and
emergency response technologies, enabling Miami's first responders to address
evolving public safety challenges; and
WHEREAS, the market for top police and firefighting talent is highly competitive,
and modern, well-equipped facilities are a meaningful factor in a department's ability to
attract and retain the skilled professionals who sustain a high level of service; and
WHEREAS, modernized facilities will strengthen the City's ability to recruit and
retain top first responders, ensuring Miami maintains the personnel necessary to meet
any and all demands; and
WHEREAS, the long-term benefits of this investment include facilities built to
current operational standards, expanded capacity to accommodate workforce growth
and service demands, integrated technology to enhance public safety outcomes,
reduced long-term maintenance costs, and increased public trust through a visible
commitment to those who serve; and
WHEREAS, the City Commission, at its July 9, 2026 City Commission meeting,
determined it is in the best interests of residents for the City to pledge the proceeds of
the sale of current Miami Police Headquarters located at 400 Northwest 2nd Avenue,
Miami, FL 33128 ("MPD Sale Proceeds"), for either the repayment of any outstanding
Bonds proposed to be issued pursuant to this Resolution, or for the MPD Sale Proceeds
to be used to fund the capital projects contemplated herein in lieu of issuing or using
Bond funds; and
WHEREAS, the City Commission, at its July 9, 2026 City Commission meeting,
determined it is in the best interests of residents for the City to apply for and use any
grants that may be awarded to the City for the capital projects contemplated herein for
either the repayment of any outstanding Bonds proposed to be issued pursuant to this
Resolution, or to be used to fund the capital projects contemplated herein in lieu of
issuing or using Bond funds, subject at all times to any terms or requirements imposed
by the grantor and any applicable law, rules and regulations that govern any potential
grant programs and awards; and
WHEREAS, the City Commission, at its July 9, 2026 City Commission meeting,
determined it is in the best interests of residents for the City, to the extent feasible, to
negotiate any public or community benefits with third -parties ("Public Benefits") for the
capital projects contemplated herein for either the repayment of any outstanding Bonds
proposed to be issued pursuant to this Resolution, or to be used to fund the capital
projects contemplated herein in lieu of issuing or using Bond funds; and
WHEREAS, the City Commission, at its July 9, 2026 City Commission meeting,
determined it is in the best interests of residents for the City, to the extent feasible, to
identify and consider public -private partnership opportunities ("P3") for the construction
of the capital projects contemplated herein in lieu of issuing or using Bond funds; and
WHEREAS, the City of Miami wishes to seek the approval of the electors for the
issuance of general obligation bonds in an amount not to exceed $450 million for the
purpose of repairing and replacing critically deteriorating fire -rescue and police facilities,
including constructing new fire rescue stations and a new public safety headquarters;
and
WHEREAS, the Constitution of the State of Florida, Article VI I, Section 12, as
well as Section 100.211, Florida Statutes, authorize and require a voter referendum for
the approval of the issuance of general obligation bonds by a municipality;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution
are adopted by reference and incorporated as if fully set forth in this Section.
Section 2. In accordance with the provisions of the Constitution, Statutes, and
other applicable Laws of the State of Florida, particularly the Municipal Home Rule
Powers Act (Chapter 166 of the Florida Statutes, as amended), Chapter 100, Florida
Statues, as amended, the Charter of the City of Miami, as amended ("Charter"), the
Code of the City of Miami, as amended ("City Code"),a Bond Referendum Special
Election is being called and directed to be held in the City of Miami, Florida ("City"), from
7:00 A.M. until 7:00 P.M., on Tuesday, November 3, 2026, including for the purpose of
submitting to the qualified electors of the City for their approval or disapproval the
proposed issuance of an aggregate principal amount not exceeding Four Hundred Fifty
Million and 00/100 Dollars ($450,000,000.00) of the City's general obligation bonds
("Bonds"), in one or more separate series, for capital projects and improvements to
repair and replace critically deteriorating fire and police facilities, including constructing
new fire stations and a new public safety headquarters for police and first responders,
with interest payable at rates not exceeding the maximum allowed by law and providing
for the levy and collection of ad valorem taxes to pay such Bonds provided that the debt
millage not exceed the rate of 0.5935 mills, with said bonds to be included in the City's
independent annual audit conducted by the City's external auditor.
Section 3. The Bond Referendum Special Election shall be held at the polling
places in the precincts designated, all as shown on the list attached hereto and made a
part hereof and referred to as Exhibit "A" or as may be designated by the Supervisor of
Elections for Miami -Dade County, Florida ("Supervisor"), in conformity with the
provisions of the general laws of the State of Florida ("State"). The Precinct Election
Clerks and Inspectors to serve at said polling places on said Bond Referendum Special
Election date shall be those designated by the Supervisor of Elections for Miami -Dade
County, Florida, for such purpose in accordance with the general laws of the State. A
description of the registration books and records which pertain to Special Election
precincts wholly or partly within the City and which the City is adopting and desires to
use for holding such Bond Referendum Special Election is all voter information cards,
registration books, records and certificates pertaining to electors of the City and
established and maintained as official by the Supervisor of Elections for Miami -Dade
County, Florida, in conformity with the provisions of the general laws of the State, are
hereby adopted and declared to be, and shall hereafter be recognized and accepted as,
official registration cards, books, records and certificates of the City.
Section 4. In compliance with Section 100.341, Florida Statutes, regarding
ballots used in bond referenda, the ballot shall include a printed description of the
issuance of bonds to be voted on as prescribed by the City Commission calling for the
Bond Referendum, with the amount of the bonds, the interest rate thereon, and other
details necessary to inform the electors to be printed on the ballot in connection with the
question "For Bonds" and "Against Bonds". In compliance with Sections 100.211 and
100.342, Florida Statutes, regarding any bond referendum not otherwise provided for,
there shall be at least thirty (30) days' notice of the Bond Referendum Special Election
by publication in a newspaper of general circulation in the City. The City Clerk is
authorized and directed to publish notice of the adoption of the herein resolution and of
the provisions hereof, at least twice, once in the fifth week and once in the third week
prior to the week in which the aforesaid Bond Referendum Special Election is to be
held, in newspaper(s) of general circulation in the City, which notice shall be
substantially in the following form:
NOTICE OF BOND REFERENDUM SPECIAL ELECTION
TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS TO BE HELD
ON
TUESDAY, NOVEMBER 3, 2026
IN THE CITY OF MIAMI, FLORIDA
PURSUANT TO RESOLUTION NO. 26-0297
Notice is hereby given that a Bond Referendum Special Election will be held on
Tuesday, November 3, 2026, from 7:00 A.M. until 7:00 P.M. in the City of Miami,
Florida, at the polling places in the several election precincts designated by the
Supervisor of Elections for Miami -Dade County, Florida, as set forth herein, unless
otherwise provided by law, and submitting to the qualified electors of the City of Miami,
Florida, the following question, as set forth herein, unless otherwise provided by law, for
the purpose of submitting to the qualified electors of the City of Miami, Florida, the
following question:
"To enhance citywide public safety by improving critically deteriorating facilities for
firefighters and paramedics through renovations, modernizations, and new construction,
and by building a modern, mission -ready public safety headquarters for police and first
responders, shall the City of Miami issue $450 million in General Obligation Bonds,
within maximum lawful interest rates, payable from ad valorem taxes, with no increase
to the current capital projects debt millage rate (0.5935), and an independent annual
audit?"
FOR BONDS
AGAINST BONDS
Section 5. The official ballot to be used at said Bond Referendum Special
Election shall be in full compliance with the laws of the State with respect to vote -by -
mail ballots and to the use of the mechanical voting machines or the Computer Election
System, and shall be in substantially the following form:
Official Ballot for Bond Referendum Special Election
Tuesday, November 3, 2026,
in the City of Miami, Florida
for Approval or Disapproval of
the Following Question:
Safe and Ready Miami: General Obligation
Bonds for Police/Fire Facilities without
Increasing Millage Rate
To enhance citywide public safety by improving
critically deteriorating facilities for firefighters
and paramedics through renovations, modernizations,
and new construction, and by building a modern,
mission -ready public safety headquarters for police
and first responders, shall the City of Miami issue
$450 million in General Obligation Bonds, within
maximum lawful interest rates, payable from ad
valorem taxes, with no increase to the current capital
projects debt millage rate (0.5935), and an
independent annual audit?
FOR BONDS
AGAINST BONDS
Section 6. The form of the ballot shall be in accordance with the requirements of
general election laws. Electors desiring to vote in approval of the Question described
above, shall be instructed to vote their selection next to the words "FOR BONDS" within
the ballot containing the statement relating to the Question. Electors desiring to vote to
disapprove the Question, shall be instructed to vote their selection next to the words
"AGAINST BONDS" within the ballot containing the statement relating to the Question.
Once individuals are satisfied with their choice, they shall press the "Vote" button and
the ballot shall be cast.
Section 7. The City Clerk shall cause to be prepared vote -by -mail ballots
containing the Question set forth in Section 5 above for the use of vote -by -mail electors
entitled to cast such ballots in said Bond Referendum Special Election.
Section 8. All qualified electors of said City shall be permitted to vote in said
Bond Referendum Special Election and the Supervisor of Elections for Miami -Dade
County, Florida, is hereby requested, authorized, and directed to furnish, at the cost and
expense of the City, a list of all qualified electors residing in the City as shown by the
registration books and records of the Office of said Supervisor of Elections and duly
certify the same for delivery to and for use by the election officials designated to serve
at the respective polling places in said election precincts.
Section 9. For the purpose of enabling persons to register who are qualified to
vote in the Bond Referendum Special Election to be held on Tuesday, November 3,
2026, and who have not registered under the provisions of the general laws of Florida
and Chapter 16 of the Code of the City of Miami, Florida, or who have transferred their
legal residence from one voting precinct to another in the City, they may register
Monday through Friday, from 8:00 AM. to 5:00 P.M. at the Office of the Supervisor of
Elections for Miami -Dade County located at 2700 Northwest 87th Avenue, Miami,
Florida, 33172 within such period of time as may be designated by the Supervisor of
Elections for Miami -Dade County, Florida. In addition to the above place and times,
qualified persons may register at such branch offices and may also use any mobile
registration van for the purpose of registration in order to vote in the herein described
Bond Referendum Special Election during such times and on such dates as may be
designated by the Supervisor of Elections for Miami -Dade County, Florida.
Section 10. Todd B. Hannon, the City Clerk of the City, or his duly appointed
successor, is hereby designated and appointed as the official representative of the City
Commission in all transactions with the Supervisor of Elections for Miami -Dade County,
Florida, in relation to matters pertaining to the use of the registration books and the
holding of said Bond Referendum Special Election.
Section 11. For the purposes of paying for repairs and replacing critically
deteriorating fire and police facilities, including constructing new fire stations and a new
public safety headquarters for police and first responders, with interest payable at rates
not to exceed the maximum rate allowed by law, to be payable from ad valorem taxes to
be levied on all taxable property in the City, provided that the debt millage not exceed
the rate of 0.5935, there shall be issued, under the authority of the Constitution and
laws of the State, including particularly the Charter, the City Code, the Municipal Home
Rule Powers Act (Chapter 166 of the Florida Statutes, as amended), Chapter 100 of the
Florida Statutes, as amended, and subject to the election hereinbefore provided for,
general obligation bonds of the City, in one or more separate series of such Bonds at
such time(s) as determined by the City Commission, in an aggregate principal amount
not exceeding Four Hundred Fifty Million and 00/100 Dollars ($450,000,000.00), with
said Bonds to be included in the City's independent annual audit conducted by the
City's external auditor. Such Bonds shall be subordinate to all other previously issued
general obligation bonds, including other limited ad valorem bonds, of the City then
outstanding at the time of issuance of such series of Bonds.
Section 12. Such Bonds shall be issued as fully registered bonds in the
denomination of Five Thousand and 00/100 Dollars ($5,000.00) each or any integral
multiple thereof, shall bear interest at a rate or rates not exceeding the maximum rate
provided for by Florida Statutes at such time of issuance, shall be in such form(s), and
shall be executed by such officers of the City or any financial institution and in such
manner, as the City Commission shall provide by series resolution(s) adopted prior to
the issuance of such series of Bonds.
The principal of such Bonds shall mature and is to be due and payable at such time or
times, not exceeding thirty (30) years from the date of each respective series at the
date(s) of issuance thereof, but shall not mature at any time longer than the probable
useful lives (in accordance with Generally Accepted Accounting Principles) of any
capital improvement assets for which such Bonds are issued.
Section 13. For the prompt payment of the principal of, interest on, and any
discount or premium related thereto, if any, for such Bonds, the City shall levy and
collect annually an ad valorem tax upon all taxable property within the City, over and
above all taxes authorized to be levied by the City, sufficient to pay such principal,
interest, and premium if any and in accordance with any discount, if any, as the same
respectively become due and payable, provided that the debt millage not exceed the
rate of 0.5935.
Section 14. Further details of such Bonds shall be determined by the City
Commission in one or more separate series resolution(s) for such Bonds. The City
Commission may by resolution consolidate into a single issue or separate into two or
more series, all or any part of the Bonds hereby authorized.
Section 15. If any one or more of the covenants, agreements or provisions of
this Resolution should be held contrary to any express provision of law, or contrary to
the policy of express law, though not expressly prohibited, or against public policy, or
shall for any reason whatsoever be held invalid, then such covenants, agreements or
provisions shall be null and void and shall be deemed separate from the remaining
covenants, agreements or provisions, and shall in no way affect the validity of any of the
other provisions of this Resolution or of the Bonds issued hereunder.
Section 16. The City Clerk shall deliver a certified copy of this Resolution to the
Supervisor of Elections for Miami -Dade County, Florida, not later than forty-five (45)
days prior to the date of the herein Bond Referendum Special Election.
Section 17. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.'
APPROVED AS TO FORM AND CORRECTNESS:
1 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.