RESOLUTION 91-20290 RESOLUTION NO. 91-20290
RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF MIAMI BRACH, FLORIDA DECLARING INTENT TO
ISSUE TAX EXEMPT BONDS TO FINANCE IMPROVEMENTS
IN THE NORTH SHORE PUBLIC AREA REVITALIZATION
DISTRICT NUMBER 1
WHEREAS, The City Commission (the "Commission") of the City
of Miami Beach (the "City") has ordered certain improvements in n an
area of the City designated as the North Shore Public Area
Revitalization District No. 1 (the "Project") , all as described in
Resolution No. 90-19917, adopted by the Commission on February 21,
1990, Resolution No. 90-19918, adopted by the Commission on
February 21, 1990 and Resolution No. 90-19964, adopted by the
Commission on April 18, 1990 (collectively, the "Improvement
Resolutions") ;
WHEREAS, as evidenced in the Improvement Resolutions, it is
the City's intent to fund the costs of the Project from proceeds
of tax exempt bonds to be issued by the City, which tax exempt
bonds are expected to be payable from special assessments imposed
upon property benefitted by the Project; and
WHEREAS, since February 21, 1990, the City has been funding
and continues to fund certain costs of the Project from moneys made
available from its General Fund which the City intends to reimburse
from the proceeds of such tax exempt bonds.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the
City of Miami Beach, Florida:
1. It is the official intent of the City to issue tax exempt
bonds (the "Bonds") to fund the costs of the Project and to
reimburse itself from the proceeds of such Bonds for moneys
advanced by the City from its General Fund after February 21, 1990
and before the issuance of the Bonds to fund such costs of the
Project.
2. The Project is as described in the Improvement
Resolutions, which description is incorporated herein by reference.
3. The Bonds are expected to be payable from special
assessments to be imposed upon property benefitted by the Project.
PASSED AND ADOPTED this 22nd day of May , 1991.
/ 40(Mayor
ATTEST:
ti f FORM APPROVED
City Clerk
LEGAL DEPT.
B 27-
Date
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ORIGINAL
RESOLUTION NO. 90-20290
Declaring intent to issue tax em.empt
bonds to finance improvements in the
North Shore Public Area Revitalization
District Number 1.