RESOLUTION 89-19528 RESOLUTION NO. 89-19528
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA
APPROVING THE AUTHORIZATION AND EXECUTION
OF AN INTERLOCAL AGREEMENT AND FIRST
AMENDMENT TO THE INTERLOCAL AGREEMENT
PROVIDING FOR THE CREATION OF POOLED
MUNICIPAL AND COUNTY LOAN PROGRAM FOR THE
FINANCING AND REFINANCING OF QUALIFYING
CAPITAL PROJECTS AND LIABILITY COVERAGE
CONTRACTS.
WHEREAS, the City of Miami Beach, a Florida municipal
corporation, has determined that there is a substantial need to
obtain low-cost funds to finance and refinance the ongoing needs
of Miami Beach for capital projects which will enable the City to
provide its citizens with new services and facilities, to
continue to provide present services and facilities, and to
finance liability coverage contracts, all of which are necessary
to maintain the quality of life of the inhabitants of the City of
Miami Beach and the State of Florida; and
WHEREAS, by pooling the needs of other municipalities and
counties in the State of Florida, a program was developed which,
due to its economies of scale; has enabled the municipalities and
counties to obtain such needed funds at the lowest possible cost
and helped to alleviate the burden on the citizens and taxpayers
of the municipalities and counties from the cost of providing
such necessary services and facilities; and
WHEREAS, the City wishes to join this program in order to
obtain such needed funds at the lowest possible cost to provide
necessary services, facilities and liability coverage for the
citizens of Miami Beach; and
WHEREAS, such a pooled municipal and county financing
program can be and is being accomplished by interested
municipalities and counties in the State of Florida joining in an
interlocal agreement in substantially the form now being
considered before the City Commission, and pursuant thereto
creating an entity to establish programs on behalf of and as the
agent of the municipalities and counties entering into the
interlocal agreement; and
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WHEREAS, the municipalities and counties participating in
the program wish to amend the interlocal agreement by a first
amendment to interlocal agreement in substantially the form now
being considered by the City Commission and pursuant thereto
provide for the use of such pooled funds by the municipalities
and counties to provide liability coverage contracts for the
benefit of their citizens and taxpayers; and
WHEREAS, the City Commission of the City of Miami Beach,
Florida may desire to participate in such a program;
NOW THEREFORE BE IT RESOLVED by the City Commission of the
City of Miami Beach, Florida as follows:
Section 1. The City's joining of the pooled municipal
and county financing program is hereby approved and Alex Daoud
and Elaine Baker, Mayor and City Clerk, respectively, of the City
of Miami Beach, are hereby directed to execute and deliver on
behalf of the City of Miami Beach, a signature page in
substantially the form attached hereto as Exhibit 1, and attach
the same as part of composite Exhibit A, to the interlocal
agreement and first amendment to the interlocal agreement, in
order that the City may enter into the interlocal agreement and
first amendment to the interlocal agreement with other
participating municipalities and counties in the State of Florida
and participated, to the extent to be hereafter approved by
Resolution, in said pooled financing programs.
Section 2. The City of Miami Beach is entering into the
interlocal agreement and first amendment to the interlocal
agreement to more effectively perform its service function
relating to the provision of adequate services, facilities and
liability coverage for the inhabitants of the City of Miami
Beach.
Section 3. The interlocal agreement and first amendment
to the interlocal agreement shall in no way be interpreted to
authorize the delegation of the constitutional and statutory
duties of the City of Miami Beach or the City Commission, nor in
any way obligate the City of Miami Beach for any debt, obligation
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or liability, except to the extent as may hereafter be approved
through the execution and delivery of a participation agreement
whereby the City would actually draw down funds from the program
to finance or refinance the City's capital project needs.
PASSED and ADOPTED this 1st day of F b uary , 1989.
Or
By: At "r
•
Attest:
/,7
City Clerk
Approved as to Form and Correctness:
By: 4 .,?.C;; L•?;? dt_try _.--
Date: 0-2/#
PNB/mml
1/27/89
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ORIGINAL
RESOLUTION NO. 89-19528
(Approving the authorization and execution
of an interlocal agreement and first amend-
ment to the Interlocal Agreement providing
for the creation of pooled municipal and
county loan program for the financing and
refinancing of qualifying capital projects
and liability coverage contracts)