HomeMy WebLinkAboutR-17-0350opCity of Miami
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Legislation
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Resolution R-17-0350
File Number: 2184
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 7/27/2017
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 MILLION DOLLARS ($400,000,000.00) OF GENERAL
OBLIGATION BONDS ("BONDS") OF THE CITY OF MIAMI, FLORIDA ("CITY") IN
ONE OR MORE SEPARATE SERIES FOR CAPITAL PROJECTS AND
IMPROVEMENTS TO REDUCE FLOODING RISKS AND IMPROVE
STORMWATER INFRASTRUCTURE,TO IMPROVE AFFORDABLE HOUSING,
ECONOMIC DEVELOPMENT, PARKS, CULTURAL FACILITIES, STREETS AND
INFRASTRUCTURE, AND TO ENHANCE PUBLIC SAFETY, 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; CALLING FOR A BOND REFERENDUM
SPECIAL ELECTION AND MAKING PROVISIONS FOR PUBLIC NOTICES AND
HOLDING A BOND REFERENDUM SPECIAL ELECTION CONCURRENTLY
WITH THE GENERAL MUNICIPAL ELECTION ON NOVEMBER 7, 2017, 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 FLORIDA AND 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 OF
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, Florida ("City") has aging infrastructure which affects the
quality of life of residents and visitors, and the City has identified capital projects of significant
magnitude that need to be addressed for public safety, parks, roadways, and drainage upgrades
that are among the priority areas that require immediate attention; and
City of Miami Page 1 of 7 File ID: 2184 (Revision: A) Printed On: 11/21/2017
File ID: 2184 Enactment Number: R-17-0350
WHEREAS, the City has undertaken multiple community and district meetings to access
input from residents, elected officials, community organizations, and local businesses regarding
their views on needed and priority capital projects potentially to be funded by general obligation
bonds; and
WHEREAS, on May 19, 2017, the Board of Directors of the Miami Downtown
Development Authority of the City of Miami, Florida ("Miami DDA") passed Resolution No.
016/2017 attached and incorporated ("Miami DDA Resolution") (a) urging the Miami City
Commission ("City Commission") to place for voter approval a bond referendum ballot question
for the issuance of general obligation bonds for the funding of capital projects, (b) establishing
specific capital projects and identifying the priorities of those projects, and (c) requesting the
Miami DDA's involvement and consultation for procurement and oversight of the capital projects
specified by the Miami DDA; and
WHEREAS, the City's Parks and Recreation Advisory Board at multiple 2016 and 2017
meetings also has favorably recommended that the City Commission place for voter approval a
bond referendum ballot question for the issuance of general obligation bonds for the funding of
capital projects for the City's parks and recreation facilities; and
WHEREAS, on June 26, 2017, the Sea Level Rise Committee favorably recommended
that the City Commission place for voter approval a bond referendum ballot question for the
issuance of general obligation bonds to fund particular capital projects intended to significantly
increase the City's resilience to flooding, sea level rise, and associated impacts on emergency
services, and requesting the Sea Level Rise Committee's involvement and consultation in the
procurement processes for the capital projects requested by the Sea Level Rise Committee;
and
WHEREAS, at today's meeting, the City Commission (1) has directed the City Manager
to include in the legislation package for this resolution proposed lists of capital projects and
improvements, and (2) has adopted the following modified broad categories of capital projects
and improvements proposed to be funded by such general obligation bonds and proposed
funding amounts by categories: Public Safety $7,000,000.00, Affordable Housing and Economic
Development $100,000,000.00, Flood Prevention $191,962,000.00, Parks and Cultural Facilities
$78,200,000.00, and Roadway Improvements $22,838,000.00, thereby modifying the original
Agenda Summary Form Background Item; and
WHEREAS, also at today's meeting, the City Commission directed that the proposed
general obligation bonds ballot language specifically identify that the proposed Fiscal Year
2017-2018 debt millage would then be at the rate of 0.5935, which in November 2017 would be
the then "current" millage rate; and
WHEREAS, the City has determined that it is in the best interests of the public to
issue general obligation bonds to finance such capital projects and improvements in an
aggregate principal amount not exceeding four hundred million dollars ($400,000,000.00) with interest
payable at or below the maximum rate allowed by law, payable from ad valorem taxes levied on all
taxable property in the City provided that the debt millage not exceed the rate of 0.5935 for capital
projects in order to reduce flooding risks and improve stormwater infrastructure, to improve affordable
housing, economic development, parks, cultural facilities, streets, and infrastructure, and to enhance
public safety;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
City of Miami Page 2 of 7 File ID: 2184 (Revision: A) Printed on: 11/21/2017
File ID: 2184 Enactment Number: R-17-0350
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"), and §6.03 of the Miami -Dade County Home Rule Charter, 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 7, 2017, 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 million dollars
($400,000,000.00) of the City's general obligation bonds ("Bonds") in one or more separate
series for capital projects and improvements to reduce flooding risks and improve stormwater
infrastructure, to improve affordable housing, economic development, parks, cultural facilities,
streets, and infrastructure, and to enhance public safety, 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,
known as Resolution No. R-17-0350.
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 No.1 or as may be designated by the Supervisor of Elections of Miami -
Dade County, Florida, 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 election date shall be those designated by the Supervisor of Elections of 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 election precincts wholly or
partly within the City, and which the City is hereby adopting and desires to use for holding such
election is as follows: 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 of Miami -Dade County, Florida, in conformity with the provisions of the general laws of
the State of Florida, are hereby adopted and declared to be, and shall hereafter be recognized
and accepted as, official voter information cards, registration books, records and certificates of
the City.
Section 4. In compliance with Section 100.341, Florida Statutes (2016), 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 Section 100.342, Florida Statutes (2016), 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
City of Miami Page 3 of 7 File ID: 2184 (Revision: A) Printed on: 11/21/2017
File ID: 2184
Enactment Number: R-17-0350
TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS TO BE HELD ON
TUESDAY, NOVEMBER 7, 2017
IN THE CITY OF MIAMI, FLORIDA
PURSUANT TO RESOLUTION NO. 17-0350
A Bond Referendum Special Election will be held on Tuesday, November
7, 2017 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 Board of
County Commissioners of Miami -Dade County, Florida, 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:
"Shall the City issue General Obligation Bonds in an aggregate principal amount
not exceeding $400,000,000.00 with interest payable at or below the maximum
rate allowed by law, payable from ad valorem taxes levied on all taxable property
in the City, provided that the capital projects debt millage not exceed the current
rate of 0.5935, to:
❑ Reduce Flooding Risks; Improve Stormwater Infrastructure;
❑ Improve Affordable Housing, Economic Development, Parks, Cultural
Facilities, Streets, and Infrastructure;
❑ Enhance Public Safety?"
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 of Florida with respect to absentee ballots and to the
use of the mechanical voting machines or the Computer Election System, and shall be in
substantially the following form, to wit:
"Official Ballot for Bond Referendum Special Election
Tuesday, November 7, 2017,
In the City of Miami, Florida
for Approval or Disapproval of
the Following Question:
----------------------------------------------------------
Authorizing General Obligation Bonds for
Capital Projects in an aggregate principal
amount not exceeding $400,000,000.00
-----------------------------------------------------------
Shall the City issue General Obligation Bonds in an
aggregate principal amount not exceeding
$400,000,000.00 with interest payable at or below the
City of Miami Page 4 of 7 File ID: 2184 (Revision: A) Printed on: 11/21/2017
File ID: 2184 Enactment Number: R-17-0350
maximum rate allowed by law, payable from ad
valorem taxes levied on all taxable property in the
City, provided that the capital projects debt millage not
exceed the current rate of 0.5935, to:
F- Reduce Flooding Risks; Improve Stormwater
Infrastructure;
F- Improve Affordable Housing, Economic
Development, Parks, Cultural Facilities, Streets,
and Infrastructure;
F Enhance Public Safety?
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 absentee ballots containing the
Question set forth in Section 5 above for the use of absentee 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 of 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 concurrently with the General Municipal
Election to be held on November 7, 2017, 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 Miami -Dade County
Elections Department located at 2700 Northwest 87th Avenue, Doral, Florida, within such period
of time as may be designated by the Supervisor of Elections of 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 of 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
City of Miami Page 5 of 7 File ID: 2184 (Revision: A) Printed on: 11/21/2017
File ID: 2184 Enactment Number: R-17-0350
transactions with the Supervisor of Elections of 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 capital projects and improvements in order
to reduce flooding risks and improve stormwater infrastructure, to improve affordable housing,
economic development, parks, cultural facilities, streets, and infrastructure, and to enhance
public safety, 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 million dollars ($400,000,000.00). 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 $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 twenty-five (25) 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.
City of Miami Page 6 of 7 File ID: 2184 (Revision: A) Printed on: 11/21/2017
File ID: 2184
Enactment Number: R-17-0350
Section 16. The City Clerk shall deliver a certified copy of this Resolution to the
Supervisor of Elections of 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
i ria i ndez, City Attor iey 9/5/2017
' 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.
City of Miami Page 7 of 7 File ID: 2184 (Revision: A) Printed on: 1112112017