HomeMy WebLinkAboutExhibit CEXHIBIT C
DRAFT FORM OF DISCLOSURE LETTER
The undersigned, , as Lender, proposes to negotiate with the
City of Miami, Florida (the "City") on behalf of its Department of Off -Street Parking a/k/a
Miami Parking Authority ("MPA") for the private purchase of its total not to exceed
aggregate principal amount of Ten Million Dollars ($10,000,000.00) Tax -Exempt Parking
System Line of Credit Note, Series 2019A and Taxable Parking System Line of Credit
Note, Series 2019B (collectively, the "Notes"). Prior to the award of the Notes, the
following information is hereby furnished to the City and to MPA:
Set forth is an itemized list of the nature and estimated amounts of
expenses to be incurred for services rendered to us (the "Lender") in connection with the
issuance of the Notes:
Legal Fees
2. (a) No other fee, bonus or other compensation is estimated to be paid
by the Lender in connection with the issuance of the Notes to any person not regularly
employed or retained by the Lender (including any "finder" as defined in Section
218.386(1)(a), Florida Statutes), except as specifically enumerated as expenses to be
incurred by the Lender, as set forth in paragraph (1) above.
(b) No person has entered into an understanding with the Lender, or
to the knowledge of the Lender, with the City and/or with MPA, for any paid or promised
compensation or valuable consideration, directly or indirectly, expressly or implied, to act
solely as an intermediary between the City, MPA, and the Lender, or to exercise or
attempt to exercise any influence to effect any transaction in the purchase of the Notes.
3. The amount of the underwriting spread expected to be realized by the
Lender is Zero Dollars ($0.00).
4. The management fee to be charged by the Lender is Zero Dollars
($0.00).
5. Truth -in -Bonding Statement:
The Notes are being issued primarily to pay the costs of financing the Projects.
Unless earlier prepaid, the Series 2019A Note is expected to be repaid by
, 20_; at an assumed interest rate of %, total interest paid over the life
of the Series 2019A Note is estimated to be $
Unless earlier prepaid, the Series 2019B Note is expected to be repaid by
, 20_; at an assumed interest rate of %, total interest paid over the life
of the Series 2019B Note is estimated to be $
The Notes will be payable solely from the Pledged Revenues, in the manner and
to the extent described in Ordinance No. of the City enacted on
, 2019 (the "Ordinance"). See the Ordinance for a definition of Pledged
Revenues. Issuance of the Notes is estimated to result in an annual maximum of
approximately Dollars ($ ) of revenues of the City not being
available to finance the services of the City during the life of the Notes. This paragraph
is provided pursuant to Section 218.385, Florida Statutes.
6. The name and address of the Lender is as follows:
Attention:
IN WITNESS WHEREOF, the undersigned has executed this Disclosure Letter
on behalf of the Lender this _ day of '2019.
By:
Name:
Title:
Attest By:
Name: _
Title:
[BANK]