Resolution 80-16321 •
RESOLUTION NO. 80-16321
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, APPROVING
RETENTION OF DEAN WITTER REYNOLDS, INC. ,
AS FISCAL AGENT AND THE FIRM OF MUDGE, ROSE,
GUTHRIE AND ALEXANDER AS BOND COUNSEL IN
CONNECTION WITH THREE UNFINISHED BOND ISSUES
IN THE AMOUNT OF $650,000, $2,500,000 AND
$6, 000, 000.
WHEREAS, the City of Miami Beach desires to take
steps to finalize the sale of bonds which have already been
approved by the electorate for: 1) 16th Street Extension
between Washington and Collins Avenue, in the amount of
$650, 000 ; 2) 41st Street Revitalization, in the amount of
$2, 500, 000; 3) Parking Revenue Bonds - Series 1979, in the
amount of $6, 000, 000; and
WHEREAS , each bond issue is in the final stages of
preparation for sale; and
WHEREAS , the financial consultant who has acted for
the City in the past has merged and changed names subsequent to
the passage of prior applicable resolutions; and
WHEREAS , three different law firms, one in
Tallahassee, one in Chicago and one in New York, have been
serving as bond counsel ; and
WHEREAS , it would be more efficient, orderly and less
expensive to use one single firm as bond counsel ;
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the
lawfirm of Mudge, Rose, Guthrie and Alexander be and it is
hereby employed to serve as Bond Counsel to provide the
approving opinion required with respect to the above three bond
issues ;
BE IT FURTHER RESOLVED BY THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, that it hereby designates Dean
Witter Reynolds, Inc. , to serve as Fiscal Agent for the City for
the purpose of rendering the usual and customary services of
fiscal agents in the marketing of the proposed bonds and
obligations hereinabove described, subject to the agreement by
said Fiscal Agent that it will not bid, cause to have bids made
in its name, or permit or authorize anyone to bid for it at the
public sale ; and that they will not be purchasers directly or
indirectly of such bonds at the public sale thereof; and said
services will be compensated for at a rate up to $18,000 for the
41st Street and 16th Street issues and up to $25,000 for the
parking revenue bonds, said fee to be payable only when, as , and
if the bonds are actually sold and delivered.
PASSED and ADOPTED this 18th day of June , 1980.
M. or
Attest:
- FORM APPROVED
LEGAL DEPT.
City Clerc A.
(.S140 Date C t S t 8'v
BMS/rr
X OFFICE OF THE CITY ATTORNEY - 1700 CONVENTION CENTER DRIVE -MIAMI BEACH,FLORIDA 33139
ORIGINAL
RESOLUTION NO. 80-16321
(Approving retention .,
of Dean Witter Reynonds, Inc.
as fiscal agents and firm
of Mudge, Rose, Guthrie and
Alexander as bond counsel
re. propose sale of
$6,000,000 Parking Rev. Bonds
2,500,000 41st Street Bonds
and $650,000 Bonds (re
closing of 16th Street Anchor
Hotel property)
11111111111.11.