82-17192 RESOLUTION NO. 82-17192
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, AUTHORIZING AND
DIRECTING BONDS IN THE AMOUNT OF $24, 650, 000
AUTHORIZED FOR VARIOUS PURPOSES AT ELECTIONS
HELD ON NOVEMBER 6, 1973, NOVEMBER 6, 1979,
NOVEMBER 3, 1981 AND NOVEMBER 2, 1982 TO BE
ISSUED AS AN OMNIBUS ISSUE OF GENERAL OBLIGATION
BONDS TO BE DESIGNATED PUBLIC IMPROVEMENT BONDS,
SERIES 1983; AUTHORIZING OFFICIALS OF THE CITY
TO TAKE ALL ACTION NECESSARY IN CONNECTION WITH
THE SALE OF SUCH BONDS; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the duly registered and qualified voters of the
City of Miami Beach, participating in an election held according
to law in the City of Miami Beach, Florida on November 6, 1973,
authorized the issuance of negotiable coupon bonds of the City of
Miami Beach, in the sum of $650, 000 to be known as 16th Street
Public Improvement Bonds for the purpose of acquiring necessary
land, rights of way and construction of a public street to be an
extension of 16th Street between Washington and Collins Avenues;
and
WHEREAS, the duly registered and qualified voters of the
City of Miami Beach, participating in an election held according
to law in the City of Miami Beach, Florida on November 6, 1979,
authorized the issuance of negotiable coupon bonds of the City of
Miami Beach, in the sum of $1, 500, 000 to be known as Beachfront
Park and Promenade Project Public Improvement Bonds for the
purpose of developing and building promenade structures, dune
crossovers, dune landscaping, site furnishings, lighting, and
related facilities on the oceanfront property east of Collins
Avenue between 21st Street and 46th Street for park purposes; and
- . T
•
WHEREAS, the duly registered and qualified voters of the
City of Miami Beach, participating in an election held according
to law in the City of Miami Beach, Florida on November 3, 1981,
authorized the issuance of negotiable coupon bonds of the City of
Miami Beach, in the sum of $18, 000, 000 to be known as Justice
Center Bonds for the purpose of financing the acquisition of land
and the construction and furnishing of a Justice Center thereon,
said Justice Center to contain a police station, jail, courtroom,
and facilities related to the foregoing; and
WHEREAS, the duly registered and qualified voters of the
City of Miami Beach, participating in an election held according
to law in the City of Miami Beach, Florida on November 2, 1982,
authorized the issuance of bonds of the City of Miami Beach, in
the sum of $2, 500, 000 to be known as Arthur Godfrey Road Bonds
for the purpose of various capital improvements, including
paving, sidewalks, curb and gutter , storm sewer, lighting,
landscaping, canopy structures, bus shelters, signage, ornamental
structures, and other structures on public rights-of-way, and
acquiring land required for the plan of reconstruction of the
following area: Arthur Godfrey Road from Biscayne Bay to the
Atlantic Ocean; Indian Creek Drive from 39th Street to 44th
Street; and Collins Avenue from 44th Street to 46th Street; and
WHEREAS, the duly registered and qualified voters of the
City of Miami Beach, participating in an election held according
to law in the City of Miami Beach, Florida on November 2, 1982,
authorized the issuance of bonds of the City of Miami Beach, in
the sum of $2, 000, 000 to be known as 21st Street Community Center
-2-
•
Bonds for the purpose of financing improvements to the 21st
Street Community Center, including, among other things,
renovations to the existing building, construction of a new
building and related parking facilities, and construction of the
Collins Canal/22nd Street Walkway from Meridian Avenue to 22nd
Street along the Collins Canal and eastward along 22nd Street to
the City' s Beach Front Park and Promenade; and
WHEREAS, the Commission has determined that it is in the
best interests of the City that said 16th Street Public
Improvement Bonds, Beachfront Park and Promenade Public
Improvement Bonds, Justice Center Bonds, Arthur Godfrey Road
Bonds and 21st Street Community Center Bonds be issued at one
time as an omnibus issue of general obligation bonds to be
designated Public Improvement Bonds, Series 1983; and
WHEREAS, said 16th Street Public Improvement Bonds,
Beachfront Park and Promenade Public Improvement Bonds and
Justice Center Bonds were authorized to be issued in the form of
negotiable coupon bonds and it is necessary to amend the
resolutions authorizing the issuance of said 16th Street Public
Improvement Bonds, Beachfront Park and Promenade Public
Improvement Bonds and Justice Center Bonds in order to comply
with Section 215 (a) of Public Law No. 97-248, commonly known as
the Tax Equity and Fiscal Responsibility Act of 1982 which
amended Section 10 of the Internal Revenue Code of 1954 by adding
a new subsection designated Section 103 (j ) providing that, with
certain exceptions, interest on municipal obligations issued
after December 31, 1982 will not be exempt from Federal income
-3-
•
taxation unless such obligations are issued in registered form;
and
WHEREAS, final regulations under said Section 103 (j ) have
not yet been promulgated; and
WHEREAS, the Commission recognizes that it is necessary to
undertake certain action and prepare certain documentation to
effect the sale and issuance of said Public Improvement Bonds,
Series 1983 as expeditiously as possible;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA:
SECTION 1. ISSUANCE OF BONDS. The 16th Street Public
Improvement Bonds, Beachfront Park and Promenade Public
Improvement Bonds, Arthur Godfrey Road Bonds, Justice Center
Bonds and 21st Street Community Center Bonds shall be issued and
sold as one series of general obligation bonds designated Public
Improvement Bonds, Series 1983.
SECTION 2. AUTHORIZATION OF CITY ACTION. The Mayor , the
City Clerk or Finance Director and other appropriate employees
and officials of the City are hereby authorized and directed to
take all action necessary or desirable in connection with the
issuance and sale of said Public Improvement Bonds, Series 1983
and the consummation of all transactions in connection therewith.
SECTION 3. PROVISION FOR REGISTRATION. The resolutions
authorizing said 16th Street Public Improvement Bonds, said
Beachfront Park and Promenade Public Improvement Bonds and said
Justice Center Bonds shall be amended by subsequent resolution of
the Commission in order to comply with the terms of Section
-4-
•
103 (j) of the Internal Revenue Code, as amended.
SECTION 4. DIRECTION TO PROCEED. The law firm of Morgan,
Lewis & Bockius of Miami and Philadelphia, as Bond Counsel and
Dean Witter Reynolds, Inc. , as 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 said Public Improvement Bonds, Series 1983
as expeditiously as possible.
SECTION 5. EFFECTIVE DATE. This resolution shall take
effect immediately upon its adoption.
PASSED AND ADOPTED THIS 17th day of Nove ber , 1982.
Mayor
ATTEST:
City Clerk
By _
-5-
•
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. 82-17192 , 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 //7,% day
of2(177A-glat.t4../, 1982.
/
/ <ieal)
City Cler
-6-