RESOLUTION 93-20730 ti
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RESOLUTION NO. 93-20729
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, DECLARING THE OFFICIAL INTENT
OF THE CITY OF MIAMI BEACH TO REIMBURSE ITSELF FROM
THE PROCEEDS OF DEBT FOR CERTAIN EXPENSES TO BE
INCURRED PRIOR TO ISSUE OF DEBT WITH RESPECT TO THE
LINCOLN ROAD REVITALIZATION IMPROVEMENTS; AND
AUTHORIZING CERTAIN INCIDENTAL ACTIONS
WHEREAS, in connection with the construction of certain local
improvements de6ci ibad or Exhibit A Lu this Resolution ( the
"Project") by the City of Miami Beach, Florida (the "City") , the
City expects to incur expenses for which the City will advance
internal funds; and
WHEREAS, the City intends to reimburse itself for all or a
portion of such expenses from the proceeds of debt to be incurred
by the City.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA:
Section 1. Declaration of Official Intent. The City
hereby declares its official intent to reimburse itself
from the proceeds of debt to be incurred by the City for
expenses incurred with respect to the Project subsequent
to the date of this Resolution. This Resolution is
intended as a declaration of official intent under
Treasury Regulation § 1. 103-18 . The debt to be issued,
from which the City will reimburse itself, is not
expected to exceed an aggregate principal amount of
$12 , 000, 000.
Section 2 . Incidental Action. The officers of the City
are hereby authorized to take such actions as may be
necessary to carry out the purpose of this Resolution.
Section 4 . Effective Date. This Resolution shall take
effect, immediately upon its adoption.
PASSEL' and ADOPTED this 3rd d. y of Mar 1993 .
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ATTEST:
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City Clerk
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February 25, 1993 Date , J
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EXHIBIT "A"
LINCOLN ROAD REVITALIZATION IMPROVEMENTS
PROJECT AREA
The Project area is generally bounded by:
16th Street on the south, Biscayne Bay on the west, 17th
Street on the north and the Atlantic Ocean on the
east.
Improvements along these street corridors within this generally
described area are to include sidewalk, curb and ij ut.teL, street,
landscaping, utilities, street furniture, lighting, and associated
streetscape improvements, street signage and all traffic
improvements related to the streetscape and landscape improvements.
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Declaring the official intent of the City
of Miami Beach to reimburse itself from
the proceeds of debt for certain expenses
to be incurred prior to issue of debt
with respect to the Lincoln Road
Revitalization improvements; and
authorizing certain incidental actions.