File Ref. #146
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. ; .
.l\mended
Amended
Agenda Item No. ~ (a)
4-4-78
ORDINANCE NO.
78-20
ORDINANCE DELEGATING AUTHORITY CONFERRED
UPON DADE COUNTY TO ESTABLISH A REDEVELOPMENT
TRUST FUND UPON THE CITY OF MIAMI BEACH FOR
THE ACQUISITION AND REDEVELOPMENT OF THE
SOUTH BEACH AREA WITHIN MIAMI BEACH SUBJECT
TO THE IMPLEMENTATION OF THE PLAN WITH
MODIFICATIONS THAT WAS PREVIOUSLY PRESENTED
TO THE BOARD OF COUNTY COMMISSIONERS;
PROVIDING FOR APPROPRI]\'!'Im: OF FUNDS AND
CALCULATION OF INCro:;-tENT FOR DEPOSIT INTO
FUND; SETTING FORTH OBLIGATION TO APPROP. :ATE
TO FUND AND DURATION OF OBLIGATION; PROVIDING
FOR REVIEW AND APPROVAL OF BOND INDENTURE,
OTHER FINANCING INSTRUMENTS OR ORDINANCES
OR RESOLUTIONS AUTHORIZING A FINANCING
INSTRUMENT: PROVIDING FOR REVIEW OF FINANCIAL
RECORDS AND RIGHT OF AUDIT; PROVIDING A
FINDING OF PUBLIC PURPOSE; PROVIDING
SEVERABLILITY; PROVIDING INCLUSION IN THE
CODE; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, the Legislature of Florida enacted the Community
Redevelopment Act of 1969 during the legislative session held during
1969; and
WHEREAS, all powers arising through the aforesaid enact-
ment were conferred by that enactment upon counties with home rule
charters, which counties in turn are authorized to delegate such
powers to municipalities wi thin their bounouI ies when such munici-
palities wish to undertake redevelopment projects within their
respective municipal boundaries; and
WHER~AS, such authorization for counties to delegate
such powers to municipalities is contained in Section 163.410,
Florida Statutes, which states:
"163.1110 Exercise of powers i:1 counties
~Ii th home rule charters. --In counties Which
have adoptrJd home rule charters, t.he powers
conferred by this part sholl be exercised
exclusively by the governing body of such
county. 1l0000l(Jver, the governing body of any
such county \~htch has adopted a home rule
chartcr may, in its discretion, by resolution
delegate the exercise of the powers conferred
upon said county by this P;Il't within the
boundaries of n municipality to the governing
body of nuch a municipality. Such a delegation
to a fnunicip<1lity shall confur only ~lllCh powers
upon a rr.urdcipl1lity a~ shall be specifically
CllIIrnerilLecl in t.he delegilting l'c501ution. ^ny
rOI-/(:r not ~pccificnlly delegater! shi1U be
I'C:1crvl'c1 c).o] 1J~;i vuly t.o t.he flovcrni 1\(1, botly of
t.he cOlJnt.y."; and
fAJ
. .,
. I . .,~
...v.... \
. 7 PG1205
17, I'iCe <t
78
.
20
Amend(;d
Amended
Agenda Item No. 2(a)
Page No. 2
WHEREAS, the City of Miami. Beach, acting through its own
community redevelopment agency indicated its wish to undertake a
project which will involve the acquisition and redevelopment in
accordance with a plan for redevelopment of that portion of
Miami Beach known as South Beach and extending from Sixth Street
on the north to Government Cut on t.:le South and from the Atlantic
Ocean on the east to Biscayne Bay on the west; and
'-1iIEREAS, the redevelopment trust fund will provide payment
for the construction, reconstruction or relocation of county
facilities made necessilry by the redevelopment project; and
WHEREAS, the City ot Miami Beach on February 1, 1977, re-
quested the County to adopt a resolution pursuant to the provisio'- s
of Section 163.410, Florida Statutes, delegating to the City of Miami
Beach all powers then conferred by the statute upon Dade County,
but only with regard to that portion of Miami Beach described in
the preceding whereas clause so that the said municipality could
procee~to adopt its plan for redevelopment, and acquire and arrange
for the redevelopment of the above described portion of the said
City; and
WHEREAS, the Board of County Commissioners of Dade County
passed on February 1, 1977, Resolution No. R-88-77, entitled:
"RESOLUTION DELEGATING ALL POWERS CON-
FERRED UPON DADE COUNTY UNDER THE
COMMUNITY REDEVELOPMENT ACT OF 1969
UPON THE CITY OF MIAMI BEACH FOR THE
ACQUISITION AND REDEVELOPMENT OF THE
SOUTH BEACH AREA WITHIN MIAMI BEACH
SUBJECT TO THE IMPLEMENTATION OF THE
PLAN PRESENTED TO THE BOARD OF COUNTY
COMMISSIONERS": and
WHEREAS, the delegation of authoLitv was expressly made
subject to the implementation of the redevelopment plan presented that
date to the Board of County Commissioners, with any substantial
deviation being subject to the subsequent approval of the Board of
County Commissioners; and
WHEREAS, a substantial modification of the plan was presented
BOCt<
2.-
'1 PG1Z0fi
78- 20
Amendcc'l
Amended
Agenda Item No. 2 (a)
Page No. 3
to the Board of County Commis:,: oners ~m January 17, 1978, and approved
by the Board through Resolution NU. R-52-78; and
WHEREAS, the 1977 Florida Legislature enacted Chapter 77-391,
Laws of Florida, amending the Community Development Act of 1969, which
is codified as Part III of Chapter 163, Florida Statutes, also known
as Sections 163.330 through 163.450, Florida Statutes; and
WHEREAS, the City of.Miami Beach approved Resolutions
Nos. 77-15283, 77-15291 and 77-':~1~, adopted on March 2nd, March
30th and August 17th, 1977, respect~/e1y, approvin~ ~odifications
to the redevelopment plan of South B,~achl and
WHEREAS, Chapter 77-391, r,,,"W9 ')f Florida, created Saction
163.387, Florida Statutes, permitti~0 the establishment of redevelop-
ment trust funds and the funding of the funds through the deposit
in the funds of the increment in the income, proceeds, revenues,
and funds of the County and municipality derived from or held in
connection with its undertaking and carrying out of community re-
development projectsl and
WHEREAS, the additional redevelopment powers established by
Chapter 77-391, Laws of Florida, including the authority to es~ablis~
and fund a redevelopment trust fund were not delegated to the City of
Miami Beach in Resolution No. R-88-77, passed on February 1st, 1977,
or in Resolution No. R-52-78, passed on January 17th, 1978; and
WHEREAS, the establishment and funding of the redevelop-
ment trust fund by such tax increment can only be effectuated through
an ordinance of the Board of County Commissioners delegating the
authority to establish a redevelopment trust fund to the City of
Miami Beach; and
WHEREAS, the County is sympathetic ~o the project envisaged
and proposed by the City of Miami Beach which will ultimately involve
the expenditure of several hundreds of millions of dollars, which will
be financed in part through Rev~nue Bonds to be issued by the City of
Miami Beach and which is presently to be secured by such revenue sources
as are provided by law including: the rents and revenues that individual
projects and properties within the area of redevelopment will generate,
the sale of properties by the City to individual enterpreneurs for re-
. ~'~f(
~ ~uu
7 pc1207
. .
78 20
Amende~
Jl.menne
Agenaa tern No. 2 (a)
Page No. 4
development, the lease of a number of properties retained in owner-
ship by the City and revenues generated by increased assessed valuation
of property resulting from the completed project; and
WHEREAS, the County desires to increase the viability of
the project by delegating the authority to establish a redevelopment
trust iund and funding it by the ilnnl1<1.. tax in':rementi and
WHEREAS, this Boa~d desires to accomplish the purpose out-
lined in the memorandum from the County Manager, a copy of which is
attached to this ordinance, for the reasons delineated therein; and
WHEREAS, the Board hereby finds that this delegation 0-: power
and ensuing appropriation of funds serves a public purpose,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY
COMMISSIONERS OF DADE COUNTY, FLORIDA:
Section 1. Incorporation of foregoing recitations. The
foregoing recitations are hereby incorporated as a part of this
ordinance.
Section 2. Delegation of authority to est.ablish a re-
development trust fund to the City of Miami Beach. -- The authority
to create a redevelopment trust fund ("the Fund") as defined in
Section 11 of Chapter 77-391, LJWS of Florida [Section 163.387,
Florida Statutes (1977)] is hereby delegated to the City of Miami
Beach pursuant to the provi~ions of Section 163.410, Florida Statutes,
..~, solely with respect to the area KrlOWn as South Beach, which is
bounded by Sixth Street on the north, Government Cut on the south,
the Atlantic Ocean on the east and Biscayne Bay on the west ("the
Community Redevelopment Project Area"). This delegation is made sub-
ject to the provisions of Resolution n-88-77, passed on February 1st,
1977, and Resolution No. R-52-78, passed on January 17th, 1978, and
to the implementation of the redevelopment plan presented to the
Board at those times. This delegation is made so that the said
City may proceed with the adoption of a plan for redevelopment,
and the acquisition of property and redevelopment of the aforesaid
area through its municipally created commlmity redevelopment agency.
:o."~' .i
...\I...T\-r
7 rt120B
...- ----.-
18' - 20
"mended
Amended
Agenda Item No. 2 1a)
Page No. 5
Section 3. Appropriation of funds; calculation of in-
crement.
The County shall annually pay into the Fund, a sum
equal to the increment in the income, proceeds, revenues and funds
of the County derived from, or held in connection with the community
redevelopment project area, and the City's undertaking and carrying
out of the community redevelopmt;!n'.:. fJt."ject plan. The increment shall
be determined anr.ually and shall be that amount equ..l to the difference
between:
(a) That amount of ad valorem taxes levied each
year by the County on taxable real property contained
within the geographic boundaries of the community
redevelopment project area; and
(bl That amount of ad valorem taxes which would
have been produced by the rate upon which the tax is
levied each year by or for the County upon the total of
the assessed value of the taxable real property in the
community redevelopment project area, as shown upon
the assessment rolls used in connection '~ith the taxation
of such property by the County, last equalized p:ior to
the effective date of the City's resolutions Nos.
77-15283, 77-15291 and 77-15413, adopted on March 2nd,
March 30th and August 17th, 1977, respectively, ap-
proving the community redevelopment plan with modlfi-
cations.
In calculating the increment, the amount of the ad valorem taxes levied
based on the county-wide debt service on County bonds shall be totally
. -. .~)
excluded from the ;;'atbulation. All increment in this amount shall
L'ontinuc to be used for its voter approved purpose and shall not be
appropriated in any part to the Fund.
~OCK
~-
1 pc120n
..... " '-
-
78 20
Amended
Amended
Agenda Item No. 2(a)
Page No. 6
Section 4. Obligation to appropriate: duration of
obligation; limitations on obligation, bond sales and refundings;
accounting requirements for County increment. -- The County shall
annually appropriate to the Fund the tax increment due the Fund at
the beginning of the County's fiscal year. However, the Fund shall
receive the tax increment only as, if and when such taxes are
collected by the County. The ~ounty's obligation to appropriate to
the Fund shall be rescindable at the discretion of the County if a
period of six years passes from the date of the initial bonding
or indebtedness described below without a new sale of bonds or
other new commitment of County tax increment dollars to the payment
of debt service for capital improvement or land acquisition bonds,
except that the rights of existing bondholders shall be protected.
The County's obligation to annually appropriate to the Fund shall
commence immediately upon the effective date of this ordinance
and continue until all loans, advances and indebtedness incurred
as a result of the community redevelopment project have been paid
or for two years' from the effective date of this ordinam:e, if
there has not been at the end of that two year period, a pledge
of the tax increment funding granted by this ordinance through
the issuance, sale and delivery of an instrument of indebtedness
such as bonds or tax unticipation notes described in Section 163.385,
Florida Statutes (1977). In no year shall the County's obligation
to the Fund exceed th~ amount of that year's tax increment as
d~termined in Section 2 of this ordinance. Beginning with the
twentieth year after t.he date of sale of the initial bonding or
indebtedness and in every year thereafter, the County's annual
appropriation to the Fund shall not exceed the amount which is
deposited in the nineteenth year. Beginning with the twentieth
year after the date of sale of the initial bonding or indebtedness
no new sale of bonds or indebtedness supported by the County's
~IY:/,
7 rc1210
78 -20
AmcnulJu
Agenda Item No. 2(a)
Page No. 7
tax increment may occur nor may existing indebtedness so supported
be refunded without approval of the Board of County Commissioners.
The County's inurement contributions are to be accounted for as
a separate revenue within the Fund but may be combined with other
reven~~s for the purpose of paying debt service.
Section 5. Review and approval of master ~ond indenture
or other financing instrument or ordinance or resolution authorizing
financi ;\() instruments; review of subsequent financing instruments
to assure compliance with master indenture. -- The County Commi~s~on
shall review and approve the initial master bond indenture and
ordinance or resolution authorizing financing instruments and
instruments of indebtedness such as bonds or tax anticipation
notes as described in Section 163.385, Florida Statutes (1977),
as to its provisions relating to refunding, prepayment and
red~mption, other provisions relating to the governance of
financing instruments and instruments of indebtedness, the
application of funds necessary to pay costs of necessary residential
property acquisition, moving expenses and relocation benefits
as provided under the Redevelopment Plan. Subsequent financing
instruments or instruments of indebtedness prepared pursuant
to the master indenture shall be reviewed by the County Manager
and shall be approved unless he determines that the instruments
do not conform with the terms of the approved initial master in-
denture and ordinance or resolution authorizing financing in-
struments.
Section 6. Relocation assistance trust fund. -- Out
of the proceeds of each bond sale, there shall be withdrawn,
placed in trust, and separately accounted for, such sums as are
prescribed in the Redevelopment Plan to pay the costs of moving
expenses and relocation benefits.
,~
~DCK 7 pc1211
7
. I
78 20
t\mendC'o
t\lnonoC'd
Agenda Itom No. 2 (a)
Pago No. 8
Section 7.. Review of 'financial records; right of audit.
-- The financial records for tr.e Fund shall be available for County
inspection and the County reserves the right of audit.
Section 8. Public Purpose. -- This ordinance being for
a public purpose and for the welfare of the ci~izens of Dade County,
Florida, shall be liberally construed to effectuatp the purposes
thereof.
Section 9. If any section, subsection, sentence, clause
or provision of this ordinance is held invalid, the remainder of
this ordinance shall not be affected by such invalidity.
Section 10. It is the intention of the Board of County
Commissioners, and it is hereby ordained that the provisions of this
ordinance shall beco~e and be m4de a part of the Code of Metropolitan
Dade County, Florida. The sections of this ordinance may be
renumbered or relettered to accomplish such intention, and the word
"ordinance" may be changed to "section", "article", or other appro-
priate word.
Section 11. This ordinance shall become effective ten
(10) days after the date of its enactment.
PASSED AND ADOPTED: April 4, 1978
Approved by County Attorney
as to form and legal sufficiency.
SL~
~1Jc-
Prepared by:
MCK
. 7 pt1212
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HCllllll'nld c r~nyop :.111,3" ~ljcmll(')':;
)\o:u'd (I f" Count.y C:I'I!1!1I i ::;;; i (lllel'f,
I !<.".1 1-1. H. ::t..i~!'lw.illl
C;Ol~).t:x .~):II1.~~I';~I'
-----_____..l~ ,:'~~~~: ,<:U::....__r._. ".;, .
m;cor.j['1l':!'I.!2J\'l'ION :
.~: ;i~~t:~, ~. '.
- . ..,_.. :",,: .:'~..t..,,~t:.--::". " ,:--,,:__,-, ',,' ',__:' ," ',' __ .,",,-;- _'.:~
Plll'llll:1nl to the Boar.]':; dil'ccUt'nof..J.iarcil' 2I/'197B,:'."wc. havc#~iI1 '~,.-:-;:.;"
l'cvie~lcd t;he propof,0.J ordlnnnc.~ ';"lld :thc:CO'..tnt.Yl1nd':C1ty:appr:qvcdi~<~>,':
Hl!dcve] 0 pmcnt Plan P!l1't:t c ulo.r:(~' I1S", i t:relatcp\:to' r'c!loca t10n .:,: It>;;.'"
i:; reCCrl1tlh;ncJed that. till(' [\o:1T'd ,ucld.t!le lanr;uar.e, 5ci,,",:forthlJclo,...~to
t.1I0. alllc'1Il1rncnt.:.; PI'c:;C.'rll.cc1 on ~r.al'ch 21, und':ldClpt. thc;:r~y1,se'd7nmond-.""
mc'nt.=:; nnd t.he ol'd:i II:lI1ce. '. ,,,.: ~,'."\':,'."...,:~;,,"):L.' ..,;,,:,
.':, ~'.;':;':~:.i:;,4 "'~:',~~:/
t~l!l}.Y~] 0.
. . , .:;'::'<,~( ,.~'.,')'i;:(:::~~,;:~::~~~,~'::>{~;:::':;:
']'110 l:o~'I'd l'eC]uc~;tctl f'Ul'1..II'~ l' :i II f'ormnt.i on on 'l;('vcraJ ". pOin\;r.lmd';e'x':"{~"':..6;
pl'en:";('c, <In j 11 Icl'o:; 1.. in a ::pecificrequ"i rf.rncnt.;;.that.;r;elocnt;loi1:~o~n:';;':,-;0;,
c:':i 1..:; be Guaranteed t.hrough the' tax lncremcn.t'\oE~;t;;;?~'?5~~~;c:;;}fB;!r~~:%.~;j:
He oCO-ill rcvjc:,.1t~O th;~ reloco.t.ionpl:m 1dttl f,r.ericf':,~tarr:'arid;pr~.!i.e'..;,.
tile: 1'0] 10\"1111r; lunp;uagc in l'eGpo:r:-:e 'to; til.c Bonrc1'G':l'cqucst.:~,,/'.;:~,~I;~j;;",~/"7t'r.
.. ," '~-- ,,'-:-:"''',,<..'':':~J'''~'~:: "";':"""'-'.'-".'~-J''''~''.:':':;'.,~~;;~'~'.''''-..
, ' "': - ,'~" . .' <.., ' '," '.. "';' ;::
the 1':D.I'ch 2l at~endincnts,on;the.<:
Section, j'(lllowlngtheco:nmaaftt;:!,'
fo] 10.~JnG: '. .
III the new Section ~ pre~;c'nt.ecl in
:;.i,xth 1 illC up 1'1'011: t~lC cnd of the
the \':01'0 "rcc1cmp\;:l.on," 1m;c'I't the,
ab: ~ ~ ~ ~f: ; ~t" [~E ~ ~ ~~ e ~ ;d'.;: rd f~ ;n~ ~d'l~ 6 ~ Fh^ ~:; :d~,l:~~~~o>~~:enn'.'.~t.i': .:,:'..,...>.:..'.'.'. :.i~,',..'."..'..""'....'.,.~,.'...'>."""...c..:..">.....,:........,....~;,.-..:,,.~.,;..':...:......;....~:.,..;...........:....."...::...:,',.'....'...::...:.'.",':...".,...::..,:ig
r.nn .1. S U3 prov~ t:: II or;,:.;, ,:-,.;.",:.$~,';"": .r:b;. .,.;;:\/:. '<;~ "
Plan," "".;";;':'~;.~;~:6J;:,i~~:~(~}~:J')"?#~j;'I;/g;:..:.~'i:.y,::.!i:'~.
Followj n[: Section I) tnthc arncndmcnt:.\.~rcseri.~:~'d on rlj~l'chn,li.dii:'.3.',
1ll:~1 Sect.:l on G as fol10l~S: .... .'''' .....
.'
"Section 6. Helclcntion as::;btnnce trust. fUnd.~-
Out of the proceed:; or each bonds~le, there sball
be ~lithdl'.:t\.o'Il, pl~cccl in trust, and scpnl.~!tely ac-
counted i'ol', :-l"r.h mlms tiS nr0.pl'c:lcrlbed in the
R(~develorm;'llt Plan to pay t.ile co:)t~\ of moving
expense~ Dnd r~lQcn~lon benefits.
AUdition of this lan(';uar;e ~Iill require that the master indcnture~'
whi ch the Board \-lill I'ev:! ow andnpprovc, must ho.ve a requirement,:::::,,:
that each bond sDlo Include adequate funds to covel' acquisition~:;:",..,
movIng expenses and relocation benefits. In'addHion tothat.:.'v.:,,;.\
rcqul re;ment, tile Ar;CllCY. fl'om indi vidun 1 bondiGsu,t.~s. mus.t wi th-..\;j;,..:;~;;
draw and place in trust thc amount. required '.t.omcel..:thoseexpenocs'.;,:,,:
for the qualified re:>idcnt5 lmp3.cted hy ~lork undertake'nthrough that",;'W/J:~.:..J,{2
bond i::sue. "': .'
\~e hnve also examined or:ain the question of cert.ain holdback riGht:;
by the County with respect t.o the increment. It is still our con-
clusjon that holdbaci{s for increase~ in cost or livine;(or :;erv~ce
ddivel'~') <lnc1 for potential service tr~nsfern\oiill h,wcthe general
effect of cliscourac:inc:prozpectivedcvclopcrs,and;o,Limpairing: bond .,'
rr.nrkct:lb:i 11 ty. . 'l'he llC;ency..\o/lllJ prcisent':;-a~c16t~iled ".. statement;<: "\th-t;/';;
effect \olith the,.conc.!.Irrriric~"""h' :.~;i'lnanM;ii>'adVrtl6~':<:['
" .~.,;''';::.(i-~,:;",,/~:,:;:,~,~;p . ~~,j:'~
In adcllt ion, :J.s'w~"sttt1;ci 1'.': . '. ".. . . .?f~;iat
1mpa c tor . ~ uch .' ho ld ~.~Cl<t. }t~r~~ji~~~~B'~P~1~t~~~0(~~;~f~>":;'1@~~~'::;':::t:I":.~.
'. . "'\;~ ....." ?', ''-.'''::)~;
''':;';:;':;.'',:'
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.....'_...
78-20
Honorable M3yor and ~'.,~mbcI'3
lJonr'u of County COllllnl slllonel'B -2-
the:le pl'ovl::;iom; included, \.:e 1>(:1:1ev0 tJv\t the ^f,:cnc.:y \dU ha'J.c
every opportunity to proce,"u l'I.ltll the l'cdevclopmcllt proJect. wh11e
the County retnillf: th..) i"lllJl \(,y \.0 cxcl'clr.c npPl'opl'iate discretion
on matters involvinG tile cCJI1ti.nLtcd Vinb.ll.lt:,' of tile project and
its long-term fi:1cal I~ffcct,l.
In addition to the amendments to the ordinance, I hnve also
attached a general report on the service impnct of the project.
'1'110. report is self-explanatory nnd Generally (:oncludes that the
impact will be omall.
f,tt.achm(ontn
30CK 7 pc1215
"
78 20
r[wpo~u) r\,\\r:Nn,\;i:~TS
-----------..-
AMENI)/,II:NT I:
COUNl Y FACILITIES
-_._._~-
Amendment 1 adds the folk)l\'ing WIll"rL'.:IS ,1.:I11S<' 011 paGe' 4 "fter the first complete
"WHERE/IS" cliJuse' on tlMt p"gc.
"WHER.EAS, the rcdc','clopm('nt tn:~t fund will provide' j):1yrne'nl for the
construction, re'constrUC\iO'l or relocdtioll of county f;leilitie's In;:d(' ncc('ssary
by the rC'developmcnl project; and"
AMEr'\f).:\\ENI.1: NEW SL".CTION I
Arnendmell t 2 ildds il new Section I as f..Jl j,)WS alld rt'I1lJlrllJcrs subS\'qucnt sections
accordinl::ly.
Section I. Illcorpor.:tion of foregoing recitations. The forC'going recitations
arc ht:r(:iJy inco-rpor<lt(~d as a I'art of this ordinilnce.
A \1f.'\' I )1\\ EI';."I:2:.
DIIR/~1!2~OF 5!.I~.0j TI~'iL.~J\I1T,\ TIONS, SE: 'ER An.
AC<"OI.'\in~c 1'01, Ji~C:Ri:,\\Ei~T
--. '---
IImt'lldernnt 3 hil~' two p;lrt...
A. [\()IW
5e("(;0') 3 (rC'll.lIllllt'r<',! hI heCl"IlI' SCo"tiOlll1 by ..\rn('IHlrncnt 2) h subst"I,liall~'
revised dS f()llows. ;o.:.,w 1.1I1gll.lgv i, ulldcrlirH'd.
Section 4. ObligidiC'!l to iJpproj"lI';'ll('l duro1tion of ob!iUltior" lirnitiltions
on oblTgiltioTl."hono s;lIC's .1n'J rdu2'.!!!.:.!.;s: .Iccollnl illg rC'<1~it~H'llt I.' -'Co:mty incrc-
ment. - - The County ~h.t11 .:nlll:"lly ;,pi'I()priiltc to th~' l'ullo the t.'l( in..:rcmcnt
diJz.tfle FUlld ilt the bq;inni:lg of t!)c' COlJnty's fi~Ci I YCilr. Ho\\cI'N, the Fund
sha 11 ree,'i vc ti\(" t.:lX incr<:llI('1i t _'Illy d'., i r ill Id wh(:;' such tax,,~ .HC coll';'cted by
the COllnty. Thc COI:::..!t?.~'~gatiol~L:.~:,;roprE~~..!9.. the Fund SI1::\l!.- be rescin~~c:
~~ the dbcrt.tion of lhe COI..'2..1~:_~_I'Ni'.?_d~f six ~...lrs pitS~CS fn':tr_~:~~ date of
~J~itial bonding or 2!.~:2.!(~;:!.~2:~s"...~iC",nj:)('d b('lol\' \\'Ithollt it new sal..' 01 bonos
~.E.l.~~~"nrllitlr1..':!:..:",,<:'f-.S.~~\~.~~~!~~el!":.5.!~!1!!J' to tll(" 1'i1~~
dp!)t ~l'rvis.~'J.2~11.i,,!~'~:('mc'rlt~cJ011d aCC]ld:;l~~)on(~:,c"'i't III<\t the
righb..of cXl5ting h~::tdhol~~::~~:!..!~~.2!_"_~~:..t.~~ Th:' CI)lInty's obl1giltion to
<l11I1U..1IIy ;Ippropri,\ti~ to the FUlld Sh.ll! co> ,:'I1t..I'<:C irnl11(,:~I.ltely upo:\ t!le cfic:ctive
dilte of this orcJinclw'c .1no (.olltinuC' until ~r1llo;1I1S, ildvi\l:ces {.nd indcLt('dn('~s
incurred ilS a result of thc (ornmunity r"tfC'vclopmC'llt plajcct have bt'.'n p1lid or
for two yeMs from thC' effer:tivc d,Hc of this ordln.:mC'e, if there has Ilot been
at the end of th1lt :11'0 year pedoo, a pledge of the' tax increnlent funding granted
by this oldin.mcc through tllC' iSSUilllC(', Sill" ilnd delil"NY of .11l Instrument of in-
debteoness such as bOllds or t..l:-t i\lllinp,1tion notes dt>scribed in Section 163.385,
Florida Statutes (1977). In ')0 yt'dr shall tht> Coullty's obligation to till) Fund exceed
the 1ll11ount ()f that yeur's t;:x increment il~ dctcrmilleo in Section 2 of this ordinance.
Bcginnilll: with the twcnti<:~~!r dft'~r the d;l:t~ of :<lle of the initial bonding
or indebtednC'ss .:Ind In C',-\l~r:.v~')('r~1.!.!.1.:.!:L1l2.::.S"lm:y'~ ""nuil1 <lp['ropriatio~
to the Fund sh.dl not ('x,:t'e'-' tile ..lflh.lUIlI which is d('po~itcrl in tht' ni.wte('ntr. Yt'ilr.
Beginnin!< with the twentiC'\;1 YCdr ..lftcr the date.- of s,\IC' of the initial bonding
cr indebtedno:ss no new sale of banns or mdebtednt'ss supportC'd bv the' County's
tilX incr~rn"nt may or:cur TH'r mil' C'xIstin' inoebtedness so SU;) ortcd be refunded
without il['provol( of the ['("IiII'd of County CommissIOners. he ounty's increment
contributions .:Ire to be iICC(.unted lor ilS il St' crate revenue within the Fund but
may be cambJne'd wi th other revenues for the purpose (If paymg e t service.
AMENDMENT 4: REVIEW ANn APPROVAL OF MASTER BOND INDENTURE
Amendment four strikes thE' present section four and replaces it with the following
New Section .5:
~,1~K 7 pc1216
/~
'-.. .,
'"78 - 20
"Section ~. Rev:"w and approv.11 of rnast~r bond Ind"nture or other
fin.)ncing instrument or ordinnnce or resolution allthorizlng financing instruments;
review of subsequent financing instrume"ts to assure compliance with master
indenture. - - The County Commission ~hal1 review and approve the initial master
bond Indenture and ordinance or resolution authori?i')g financing instrumel'fs and
instruments of Indebtedness such as bonds or tax ilnticlpation notes as described
in Section 163.38.5, Florida Statllt~s (t 977), as to it s provisions relating to refunding,
prepayment and redemption, ilnd other provisions relating to the governance of
financing instruments and instruments of indebtedness. Subsequent financing
Instruments or instrumC'nts of indC'betedness prepared pursuant to the master
indenture shall be rc',:iewed by the County Man.1gcr and shall be approved unless
he determines that the instruments do not conform with the terms of the approved
initial master indenture and ordinance or resoluti.on authorizing financing instruments."
~~:,~ 7 pc1217
~
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_..__._________._----1';!l!:l~:!.sll:rit...t(J r~ I1'Clll ?(b)
ll,\1E
~:"lI'ch ~l, ].9"18
1101101',,1110 !'!nynl' nTh' t'cmUC:l':;
ilO:1l7t". of' (:(:\:n\;,:,o CO,,;:I1.i:;:,Jonc:I'::
/ll! , ,;." //' ,/: -
, f I (" " "t' .~;
I. ;/ l .."., ,,:,,- \.._.._..~,.___..~
~i./fI.(;~l."I.l:l'!J".lIl1
Cr;\m I..y r'bl1:tn~ l'
~ hI ".,
Que" t.l all:; Ra:l :.;ed Hceo.!'d:j 11[~
p!'opu:-,ed 'I'nx 1ncl'\.:11I0nl..
l-'JlI;lIH:.iII'.~ 1'01' the South
Hench Hcdeyclol'l1Icl1t
SLJLJ.IL("1
On ~i:.\rcll 7 whei1 dcfcl'l'ill of the subject ord:lnance was requested,
repl'esenl..,d;:i.ves of seve!'al orf,an.!.zations appeared to present
thejr vlev:s and quc,,\,ion~; on till: f,ubjcp.t.
A cuod deal of the m~:t.erial pI ,.;(:'nt<.:d relates to the redevelop-
ment plan nlrendy npi'l'ovccl b:,' \,ilc C()mr~l::;sion and t. :' effect of
the project on the C:i ty of j\l:i.ar:1i Ileach.
OUI' rc.:;pon:,,'s Idll [.lC" confined to the issue of County Tax Incre-
ment contri['utjons ~;~llrc that .i;; the ~:ulJject. of the ordinance to
be deo.lt \'Iith on ~lur("h 21.
Other que:'tlon:; re01l'din[; the plan and t;/lC' relationship bet,'wen t!1C
C:l ty and t)11.' r,r,cncy. have ho.d QI,:plc oppo:-'tuni ty for' discussions
in many hearincs pri0r to this dute. In fact, the dele~atlon
of r'cdevc]Orl~(mt autl.orit:,' made In February of 197"f and suhse-
qu(!nt npp'ovnJ. of am':'nd;~';':it~, \.0 ..he redcvelcp:nent pl nfl bo';;h
r!'~}vjcl,:,ct opp(,)l't:J.l1j ti('~~ fOl' Lh...-:~ j nput to the BO.:lrd of County
CO!;11:11['.r,:,oncl'~: .
Follo~l:i.nc; 31'(' our re;.pon:;cr, to 'luesti':>ll:"; ra:l.:;ed 0:1 :';arch 7
;~hich arc p':1'tiner1t to the orcllnancc to be he:3.rd on r-:arch ?l.
Questi~~--!
Dnde County Af,f,oC j a t 'i.S'.!!-0'_!}EJ:J.~C'orporn t:!'..1.. Are~
Lenctl1 of increment oulie':lt1on.
Re S~',_c:
Question 2
Response
9uestion 3
Rese..~
] t is the intent of t.he propose:] ord:lnance
that the increment ~Inl be continued lone
c.nouC:;h to repay inc.iebtednc:;s 1:1curred by
the ar;ency. One Pl'upo$ed amend:r.ent \~ill
provide tl1nt o.ftel' 20 yco.rs the increment
will be frozen leavln~ the a~cncy little
c.pt:l.on to \;iJat of r ~tirement of existinG
~onds. No new i~sue:.; or refundin~ of
pr:lor Issue~ may occur beyond that point
without Commission approval.
]n addition, the same amendment provides
the County Commission o.n 3.utomatic "sunset
review" aftor 6 yearn with the proviSion
that existing bondholderD be protected.
Assurance that cost of services will not
increase astronomically in the area.
Jt is our opinion that the development
itself will not increase service demands
slgnificantJy in those service areas
where Dade County has responsibi+ity. A
report on service impact will be included
in the agenda kit together with amendments
to the ordinance.
Increasing deficits due to inflation.
We obviously cannot control inflation.
However, it 1s clear that the tax roll
from the arealn question shows no sign
7 pc1218
.&.~-"..-
"'-':
. .
...
,
Ilonorabll: rmyor o.nd l.iember::
B0<ll'd of County COnlm.i ssionerr.
-2-
~Je~tion II
Responze
Que:'lU;)n 5
RcsponsL'
Question 6
I\cspon~e_
Question 7
Response
(,f kecpin[': up with inflation on 1t~ o~m.
In fact, the current taxable roll in the
Cirea can be l'xpccteLl to decreo.~1e if
C'Ul'1'ellt. con,lit1on:: continue. Any contention
\.hot the Sout.h Beach area will produce r;rowinc;
1,mount::; of o.d valorem revenue without redevel-
c'pment is :::imply not sound. The economic:? of
the area have in fact "fro~en" tax revenues
[: ll'eady aile! thn t 1 s one 0 f t he reasons for
the use of tax Increm~nt financing.
Attorneys' fees in condemnation procedures.
~e are not o.ble to enact legislation locally
to control Attorneys' fees. We have been
authorlzccl by the Commins 10n to seel< similar
state ler,islation for several y~ars and have
been unsuccessful.
Cont.rol over "~"1eC'thc~rt. deal:;" reC;ardinG
lea:'lcz.
1his issu0 is addrLssed in the Florida
Statutes. In addition, the a~ency's
success will depend on utilizinG 0.11
revenue sources fully includinc maxi-
rr;izinr:. lease' revenue \1hile at the same
time proviclinc: sound OPPol'tunitles for
developeI's.
'I'he propose<i conzti tut10n cJ<)c~ !mve lan-
c:uoG<' ;':111 ch \':ould clarify the zt,atus of
t.ax inCI'Cli:el.t. bonds as revenue I;ond.,.
'j'!1<: SVltutc ;':ili ch creotes tax i:lcrement
f tnanC' .:.nr; :.1) r'L':..ldy vi el';s inCreJ;lc'~lt bonds
in Lha~ l1GllL. Any disputes on this issue
wIll be put to rest in the a~ency's first
bond v:1l idn t..ton.
The <lrplicability of :lttaml Beach' z $250,000
bond referendum requil'C'ment is not an issue
thn L the Count:; Commi8sion need:, to address.
Ti1c bond vaU dat ton Pl'OCt.'c!ure w: 11 provide
a forum for that question,
Analysis of income from public Jand versus
income from land yet to be> acqu:'.red.
It; is difficult to distinr;uish t.hi~ question
from the earlier one regardinG improper lease
a~raneements. However, we arc ~dvised by the
Redevelopment Agency that separate income
analyses have been done and wlllbe submitted
for the Commission's review. The more general
question which we need to be concerned with is
not whether the agency's income is from land
currently owned versu~ land to be acquired.
R~ther our concern in this area should be to
insure that the aeency has sufficient freedom
to maximize its revenues to insure the earliest
possible completion of the project while at the
same time providine adequate safeguards from
the County's perspective. Ibelleve that the
ordrnance as we propose to amend it does both.
IS
7 pc121D
c.-.o:_.... .
I
18
Ilol1ol':ll,lc, :,1ayoT' :ll1/.\ r':0Il1bl'1'~~
1\o:II'd 0 [' COlll1ty Cnmmi f,~;1()11C'1'~1 -3-
~~u.~J:!._B_S'~"1S:..I~J}s:~;.i.-,~~~:,_^:; !:~ r:.L!!.t} (;'11.
We hUVl~ I'c~vlt'~lcc1 the popeT' :,Ublllittcd by the ^,;r.oci:ILion and
find that :It r.I'Nlk:,; ctltlr'cly to the H('dovclop;lIcll1t Plan which
the CClmrni~~don h:I:' III rC'ady nppl'oved. 1 undct','tand thnt the
^f",cncy J r. pl'c)nr\ nr, r r(~Gpon;;)(' to tile quection:1 l'ai ::led by
tile JI.:;:,'llcJation :,:0 tk"lt: thl~ Corn',l.l;,:~Jon l'1ay !'c\'lc\~ it prior to
the r':~ll lc hcul'illC 01, the tax l:lcrl~ml'll\. ot'(11n1I1c0.
BOCK
/6
7 PG1220
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M E MOil" II n lJ M
.__.~Ul'!~~~'!?t \".(~!\I: :nd:\ :r~:.2..;~~~)_____
IIonor';\olc r'lnyo:" and r.ll :nber:;
nO~Il/\\1,/9r .c:,O\l~lt.)-1 Cormni: :;i (llIcr':;
/. /1,' (1 /l ,Ii
,...., . ,.
I, 1 .) ....(" ~...._,~_..._..,---...
I) . ~ ' ,,' ,
1-1./ R~ St,i"cl'tlCim
Cfounty r.lannccl'
r'':.:llcll :'], 19"18
C,^, t
!ot In It ('1
Sc:r'v i(:c lrnpilc:t Ikpol'l.
:~--..:;,.~ '~~~l:'
--- -- ._-_._._._-_.._---~-_.._--'_.._----_._-----_.__._,--_.
. This repol't if, iI' re:;pon~e to a reqlle:.t rnadCl by Commissioner
/led t"or'll at tile Jnnll;\I'Y 1"1, 19'ff\ mC'ct i nr. of the /loard of County
Comrnif,~ion~r5, At thi:t time Hr'. Bedford inquired Cl3 to the impact
the PI'oposed l',~developrr.('nt plan for thc South Sho~e area ~lould ,
have 0.1 Dade County, (,:;peci.1lly a:\ it related to increased serVices.
After' an;"\lyzing t.he propo~;cd plan, :\nd meetinr; with the.Rede-
velopment Ar,ency staf:"; we believe that any increa~.~ in serVlCe
levels to the South Sllore area would be minimnl. All affected
County Depnr'tr:lents wet'e contacted to insu:"c thAt any and all
services h;ld been accounted for and that thcrl~ would not be major
incr'case::! 'in expcnditllre~l and ::!crviee levels.
The only implica~.ion for increased service we foresee is
maintennnee of arteri:ll roadways, traffic sienals, and street-
liGhtinG of ~;ame. 1I000:ever, it should be noted that the hard\.l<lre
and totnl cost of any ncw const.ruction of these ronds and other
capital constvuction will be borne by the Redcvelop~ent Agency,
and in essence, should not require R hi8h level of maintenance
in the near futur'e. He e<'ln accomplish the above conditions with
the provision include.! in the propo~ed Ordinance, whinh stipulates
that capitill improvcm'~llt:; required by the project arc to be funded
by the Redevclopm0nt AGency.
It should also b,~ noted, thnt. in apPI'oxirr.ateJy 20 years,
when level debt scrvi'.~e is established, t.hc County would reCtlptul'C
over and abovc any mOllics expencled for incre<l:"Jed sc~:"vices by funds
received from Laxe::! <It. that. limp. The Propert.y Appraiser indicates
that. t.he to\..'\l il::se~;s,~d v.llue of the South Shore area at the
pr'(!~;ent t.ime i~; appt'o:-:im:lt.ely $'/9 million. After redevelopment
the assessed va111c is estimated by tho A~ency to be $439 million.
One of the major r'casons that we did not feel that any in-
ct'ease in so..:rvices wOII1C: be necessal'y is the fact. that the total
populntion ot" the arc:; is not expected to incrcase substantially.
ThouSh it is anticipat.ed that the number of tourists will increase,
this should not hilve :1 direct impact on sel'vices provided by Dnde
County, with the exception of puulic transpol'tntion. The level
_of transit service wOllld bc diet.ated by Lhe needs or the area
but because thi~ area has a henvy reliance on public transportation
it would probably be ;, cost. effective scrvice where the additional
revenues would offset Cost3 of increased services.
~ ~:r. 7 FG1221
17
8 i
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Illlil!l:
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ME M 0 RAN 0 U M Amended
Ar:end'l Item No.2 (;!)
---~~~;;---II\;hll(' Ill''','lll/':)
,,,'" ,1:11111:1!"':-; I',. Iq7B
".
i!()nn,,;d)]e :'1:!,Vo:'" :1nd J\1,'mbC'r':-:
72;oAI!i ?71.'1"""" 1 ,<, Ion.' ':
l~ fI.//fh.:.'nelm
fOunty ~la,n.1f,el'
.~t;H II, I I''''.~ll():-''.('d t)r'd tnanL'0. t1Vb:Ul
Heuc'vclopi1lent Trust Fund
,- I.' " ~
FEcm1:V:END.\TION
7hC' ~',i..c.ched ordinanc!' pertains to the annual transfpr of Dade
County ad valorem tax increment YeVc~ue to the Miami Beach
Redeve10rr,e"t Agency. This ordinance 1s presented fop review
.1!1d consideration at the recuest of the Ci tv of Mian..1 3each
ane the Redevelopment AGenc~. It is recomm~nded that the Board
::1dr'::)~ the .1ttachect ordinance which includes certain limitations
anc' :1.ccountability as:'urances. '
r=,A C }.:~~ ~O:j ~i J
c':~ f.'ecY'u2Y",' 1, 1977, : he Boarct ndopted Resolution Nur:ber R-88-77
',::,! ch dclcr;ated to th,' City of ~1inmi Bcath certain rcdevelopr.lent
pOWCY's whi8h by State law are reserved to Metropolitan Dade County
un}cs;~ spc~ifIcally ct,:legated to n r.1Unicipal1ty.
In \'hC' !nt-'ivcr.:nf, r:1o::ths, durin."', the 1977 se:.3ion o~' the Florida
LcC;isl,'ltur'C', 3. new ur~'nn iedevelopmentpo\\'er, that 0" tax incre-
~:cr.t finandnt;, '.-JilS !lllthorizcd by the E!nactmen-c of Chapter 77-391,
Ijc;','s 0 [" li'l (q'l loa.
C'b\'iously :;ivei, that .'equence of events, the d,~leGation of powers
2ml authority cont::in"d in the F'~bruary resolution d 1d not include
(" ~o:n;ni tment to tran:;"er the proceeds of' Dade County ad valore::1
tax incY'ement revenue.: to the Ag0~CY'S redevelopment trust fund.
~'h~s ordinance \dll c;'r:1mIt those y'cvenues to the AGency's trust
:'Ulld for use PUl'"". uan t to Charter 77- 391, La\~s 0 f Florida.
OVERVIEW OF CONCEPT
As you may know, apnllcatlon of the tax increment concept does not
r'\'(:ucp. the taxes paid by proper.ty OImers \d thi:"l theUstrict. !\or
will it reduce, from 'he current level, taxes ~eeeiv~d by the County.
~'h() increment accrues \~tl(>r. tax roll value incr'?3.ses 'lnd or mills!;:'
Jn~reas~s ~enerate ad valorem revenues in excess of those generated
prIo:' to the stc\r't of a t2X increrr.ent./llrb2n rejevelo~ment project.
~'!1ilS, all of the t:lxe.~ are paid ,'md only that !,orti 0'1 described as
the tax Increment is let !l~lde and transferred to th] redevelop~ent
fund.
An important General 1ssurnvtion in this concept is t~at the portion
of the' cit:: dcsil~natel as U,O l'ed0vclorment area \~ould not exoerience
tax role growth (and ~hus have an increment) without the develoornent
oncouY'aged by the nV:lllabllity of tax increment financing and the
urban redevelopment errort itself. In the absence of tax increment
l'ccjevelop~ent, the ta:< role \~o\lld continue to decline or pE:rhaps re-
main somewhat stable 1nd there would he no general gain in ad valorem
~cvenuc from the area.
~nNn[710~S OP PROPOSED ORnrN^~CE
With that overview of the con~ept the following sUr.l~ary of provisions
in the ordinance Is presented. These "conditions" represent what we
~onsider to be adequate assurance that the transfer ~f funds from
County-levied ad valorem taxes is properly limited and provides ac-
countabi 11 ty.
~~--J .r.:._n.
78-20
-2-
(ifO~..~.L'll Obligatie'n !"1!.1]~.ll.~
1'h(' "rdJ.:laI1CC !'l'ovid",; t.h"1 l:'llcul~ttton" to determine
:1rlnual increment,~ fohnll not. lncl;;tie vote)' 8!'nr"vt>d
mll laf~e:~. 'l'iw l,rb::\T1 r','(J(>v,'J (\["\m"r:t d 1 str'} r.t will
cont [nue to pl'o<!lICe It:1 p,', 'pOl't \ ("'T1nt(' SI1:1I'C of ad
valol'em r'('v"nUf' 1'0<11.1: l'l.d f"'l' fjC!ler'al obl'lf'atlor; dc.bt.
gt'rvice.
Roundaries . !.lmilatJ 01]
'1'h(' I ncrernent w; 11 Rccruc only fr'om pro!wrty \~; thin
t.he lloundaries (f the redevelopmE.nt ",rea as it is now
(..ms'.:.ltut('ti. Any future cxrnnsi'-'r of tht? area will
not ,~nrl'y wi th ~ t a c0mml"''',t.'nt c1' incremlmtal I:ounty
'HI vl1orc:n revcl:uP '.dt.hout ,?Xrr(;f,~: authol'1zatllln by
0I'[j1118nc0..
o r[) !:'2 V a l-0.E...l'.onl:. T'1rlc.!.1JJ.!!.:-~~.2.!:-~~ce't.
'i'h" ':,I'd.l n;H1ce r"'lu\ I',_.~: Flppl'oval by thl" C,Junty :ommissi0n
01' Uw Agency t s bond Indentures or c l. ty bond o:'dinances.
This pl'ov\ [:1011 ':~ n :t1Pchan ism by which the County may have
~,tomc involvement in prudent financial pl::\nninr; ror the use
Ill' COllnty a.:l Vll orer.\ 1'0Venue. Through this me,:hanism the
(;,l:ltlty mil,\" hnvc:'l V0j('0. In f-uch jssu,,~ n.) tt1(' return of the
\,,'lX I nr.f'c'mi'r1t tl tt1t' Count.'! r.;encr'al funti when the redeve:op-
mt;nt; plnn J ~1 co: ,plett' and debt. service 1;; met, prepayment
of lkbt ,"111:1 r'c!"nnncJni'. of <kbt.
!:.;'o.G.r..'.~~!"~~2...~__.!~~.1 C'C t~
;'.:wuld the, Red0.;clo;-O:;icnt I\.",('ncy n0t 1ll'r,1"l t.he :'r().Jf!c~.
1.::1:'<::11:".11 Ul<.' 1:,~:',n!1C" n!' f'l:1ilncin: illstr'.l"nents "or the
1n1t\."1.1 n::'.,;c ..:'thin \".',':0 y(~ars, tile County !'l~t'lins the
rlr;ht. to ;dtll'jl':V; tn" commttment of t.ax lncrc:~:'nt proceed:;.
,,'1'1:1ncl:11 HC''ClT' .'
_.. .. _ .._........ "J...._._
.,)~1',: I\ud i . :1
':'111' ,:,"1:1:....' :''-',,'' 'V".: 1:1'- :'i .!:~; t (, :milll.111v :llltLi:. Uk' 1"::,cord.1
I~:' t~:\\ i\C'dl'VCl.C; n;~.'tlt J\J~C~lC'I.
In "d.j \ I. i";l \.1) ~.!ll' ..~ 'VP c"lldj:. \ 1n.., County [Ip::>rovaJ .d 11 bE' required
:'(n'~j:-I~/ ~;I()d! :'.lr::1t 1 on;', in t.ht~ r(~dt"".'(~1()1'lr1t~nt p13n f,0 tl)at nny sut-~;tnn-
:.\:11 l',)'oi1rl'.-n1nt: ,r .1" 'r"~ \\"111 :""lidr,' i;o'lnt.y i1r'pI'ov,1i. All other
rq'()v\:'l'ln;', "f' tip' ;.','l,'\\,"1!'.'/ i, ]1l77 1'('snlut1on "11le! U,' I":'~;olution
ilf'i'I'tJvlnt~ :'iedl ij'~:ltln I~; ".' , '.lie nl,11l Iln tnrl."l.v'~ i"lfo,end'l not in conflict
',.;I'.1i t.llL1 ,1r'dlnnIlC" ',,;']1 ilJ:.O ~"':n.'l1i1 prfl'ctlv(~.
l\ttilchmcl1t
~::r. 7 pc1223
78-20
S'rA':'E OF FLOHrl>>\
CCUN'I'Y OF DADE
I, HICllAHD P. BimlKEH, Clerk of the Clr~ui\, Court in and for
Dade County, Florida, and Ex-Officio Clerl. of the Board of County
COll1l1:i n5ioner:l oj' ~:aid County, 00 HEHEBi' CEiI'rIFY that the above and
foreGoing is 11 true and correct copy of 1'ollololini( denoted C',mn:A:;CE
01" Dade Count.y, Florida, us appears of record.
OPDIrl.."JjCr: ::C'.
78-20
, (\clonted by U;e su:,l !1()llrtl 01'
County COlrJLL!.:~1.~l1cr.:.J at itn If,cctine: l'l'~}.d on April ~ 197~_
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on _.__.-!'~r .2..
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TIOil I'd c' r ~:()\lll ty (~ol:4':1l~; [; lone :'\:
Dude County, FlOI'I,la
ny (l,,_ J<..'~ ~j,.(.c~ <.. <.)
Deputy Gler;,
SEAL
BOARD OF COUNT,), COt.mISSIONEHS
DADE COUilTY, FLOH I I1\
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