82-17190 •
RESOLUTION NO. 82-17190
RESOLUTION DIRECTING BOND COUNSEL AND FINANCIAL
CONSULTANT TO TAKE SUCH ACTION AND PREPARE SUCH
DOCUMENTATION AS IS NECESSARY TO EFFECT THE SALE
AND ISSUANCE BY THE CITY OF THE PREVIOUSLY
AUTHORIZED GENERAL OBLIGATION BOND ANTICIPATION
NOTES, SERIES 1982 IN A PRINCIPAL AMOUNT NOT
EXCEEDING $1 , 500, 000; AUTHORIZING OFFICIALS OF
THE CITY TO TAKE ALL ACTION NECESSARY IN CONNEC-
TION WITH THE ISSUANCE AND SALE OF THE NOTES; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, on January 21 , 1982, the City Commission
(the "Commission" ) of the City of Miami Beach, Florida (the
"City" ) passed and adopted Resolution No. 82-16901 (the
"Resolution") authorizing the issuance of Beachfront Park and
Promenade Public Improvement Bonds in the aggregate principal
amount of One Million Five Hundred Thousand Dollars
($1, 500 , 000) for the purpose of funding General Obligation Bond
Anticipation Notes in an aggregate principal amount not
exceeding One Million Five Hundred Thousand Dollars
($1, 500 , 000) (the "Notes" ) and providing permanent financing
for developing and building promenade structures, dune
crossovers, dune landscaping, site furnishings, lighting and
related facilities on certain property owned by the City east
of Collins Avenue and between 21st Street and 46th Street (the
"Project" ) ; and
WHEREAS, as stated in the Resolution, the Commission
deems it advisable to issue and sell the Notes in anticipation
of the receipt of the proceeds of the Bonds to provide funds to
temporarily finance the Project; and
1 .
•
WHEREAS, as stated in the Resolution the Commission
has determined that it is necessary and in the 'best interests
of the City that the Notes be sold at negotiated private rather
than public sale, as permitted by Section 215. 431 of the
Florida Statutes; and
WHEREAS, pursuant to Section 20 of the Resolution the
law firm of Morgan, Lewis & Bockius of Miami, Florida was
appointed Bond Counsel for the City of Miami Beach in
connection with the issuance of the Bonds and Notes; and
WHEREAS, pursuant to Section 21 of the Resolution
Dean Witter Reynolds, Inc. was designated to serve as Financial
Consultant for the City for the purpose of rendering the usual
and customary services of financial consultants in the
marketing of the Bonds and Notes; and
WHEREAS, the Commission recognizes that it is
necessary for Bond Counsel and Financial Consultant to
undertake certain action and prepare certain documentation to
assist the City in effecting the sale and issuance of the Notes
as expeditiously as possible;
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH,FLORIDA,
that: Section 1 . Direction to Proceed. Bond Counsel and
Financial Consultant are hereby directed to take such action
and prepare such documentation as each of them deems necessary
to assist the City in effecting the sale and issuance of the .
Notes as expeditiously as possible.
Section 2. Authorization of City Action. The Mayor,
the City Clerk or City Finance Director and other appropriate
employees and officials of the City are hereby authorized and
H.
directed to take all action necessary or desirable in
connection with the issuance and sale of Notes and the
consummation of all transactions in connection therewith.
Section 3. Effective Date. This resolution shall
take effect immediately upon its adoption.
PASSED AND ADOPTED THIS 17th day of November,
1982.
MAYOR
ATTEST:
U )R.7--- ,<
City Clerk
1 uiriv3 4'W( i\
LEGAL D 34-,-
E3y -7
DatO // ' ''2--
•
STATE OF FLORIDA
COUNTY OF DADE:
I , Elaine Matthews, City Clerk of the City of Miami
Beach, Florida, do hereby certify that the above and foregoing
is a true and correct copy of Resolution No. 82-17190 , duly
passed and adopted by the City Commission of the City of Miami
Beach at a regular meeting duly held and convened on the 17th
day of November, 1982 and that said resolution is in full force
and effect, without amendment, on the date hereof.
IN WITNESS WHEREOF, I have hereunto set my hand and
the official seal of the City of Miami Beach, Florida, this
1/6L day of , 1982.
EAL)
City Clerk