HomeMy WebLinkAboutResolution - Virginia Key Advisory BoardA RESOLUTION OF THE VIRGINIA KEY ADVISORY BOARD (`BOARD")
RECOMMENDING THAT THE MIAMI CITY COMMISSION ("CITY
COMMISSION") AUTHORIZE THE CITY MANAGER TO ISSUE TAX-EXEMPT
AND TAXABLE SPECIAL OBLIGATION BONDS IN THE EXPECTED TOTAL
MAXIMUM PRINCIPAL AMOUNT OF FORTY-FIVE MILLION DOLLARS
($45,000,000.00) FOR THE PURPOSE OF FUNDING THE RESTORATION OF THE
MIAMI MARINE STADIUM AND THE DEVELOPMENT OF THE SURROUNDING
AREAS CONSISTENT WITH THE ORIGINAL VIRGINIA KEY MASTER PLAN AS
PRESENTED TO THE CITY COMMISSION BY THE UEL ON JULY 22,20 10;
REQUESTING THAT PLANS FOR EXPENDITURES RELATED TO THE
RESTORATION OF THE MIAMI MARINE STADIUM AND THE DEVELOPMENT
OF THE SURROUNDING AREAS BE BROUGHT BEFORE THE BOARD FOR
RECOMMENDATIONS FROM THE BOARD AND THE PUBLIC; FURTHER
DIRECTING THE BOARD LIAISON TO FORWARD A COPY OF THIS
RESOLUTION TO THE OFFICIALS STATED HEREIN.
WHEREAS, the City of Miami ("City") will be presenting before the Miami City
Commission ("City Commission") at the October 27, 2016 City Commission meeting a
resolution declaring the official intent of the City to issue tax-exempt and taxable special
obligation bonds in the expected total maximum principal amount of forty-five million
dollars ($45,000,000.00) in order to, among other things, reimburse itself from the
proceeds of such special obligation bonds for funds advanced by the City for certain
expenses incurred with respect to certain capital improvements projects at the Miami
Marine Stadium and the associated welcome center and museum complex; and
WHEREAS, the same resolution being presented before the City Commission at
the October 27, 2016 City Commission meeting further authorizes certain further and
incidental action by the City Manager, in consultation with the City Attorney and Bond
Counsel, and such other appropriate officers, employees, and agents of the City as the
City Manager deems necessary; and
WHEREAS, the City Manager presented and discussed the purpose and effect of
the resolution before the Virginia Key Advisory Board ("Board") at the Board's regular
meeting on October 25, 2016;
NOW, THEREFORE, BE IT RESOLVED BY THE VIRGINIA KEY
ADVISORY BOARD 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 fully set forth in this Section.
Section 2. The Board recommends that the Miami City Commission authorize
the City Manager to issue tax-exempt and taxable special obligation bonds in the
expected total maximum principal amount of forty-five million dollars ($45,000,000.00)
for the purpose of funding the restoration of the Miami Marine Stadium and the
development of the surrounding areas consistent with the original Virginia Key Master
Plan as presented to the City Commission by the UEL on July 22, 2010.
Section 3. The Board further requests that plans for expenditures related to
the restoration of the Miami Marine Stadium and the development of the surrounding
areas be brought before the Board for recommendations from the Board and the public.
Section 4. The Board Liaison is directed to forward a copy of this Resolution
to the members of the City Commission, Mayor Tomas Regalado, City Manager Daniel J.
Alfonso, and the City Clerk.
Section 5. This Resolution shall become effective immediately upon its
adoption.
PASSED AND ADOPTED THIS 25th DAY OF OCTOBER, 2016.
Gregory W. Bush, Chairman Y
Esther Alonso Luft Y Blanca Mesa Y
T. Spencer Crowley
Absent for Vote
Gary Milano
Y
Guy Forchion
Y
Joe Rasco
Y
Kevin Kirwin
Ex -Officio
Vinson Richter
Y
Stephen Kneapler
Absent
Daniel Rotenberg
Ex -Officio (Absent)
Lynn B. Lewis
Y
Robert Vernon
Y