Resolution 82-17043 RESOLUTION NO. 82-17043
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, APPROVING A CONTRACT
BETWEEN THE CITY OF MIAMI BEACH AND THE MIAMI-
DADE WATER AND SEWER AUTHORITY.
WHEREAS, for reasons more particularly set forth in
Commission Memorandum No. 397-82 , the City Commission of the City
of Miami Beach deems it in the best interest of the citizens of
the City of Miami Beach to approve the attached contract between
the City of Miami Beach and the Miami-Dade Water and Sewer
Authority,
NOW, THEREFORE, BE IT RESOLVED by the City Commission
of the City of Miami Beach, Florida, to approve the attached
contract from the Miami-Dade Water and Sewer Authority on the
behalf of the City of Miami Beach.
PASSED and ADOPTED this 16th day of June , 1982.
MAYOR
ATTEST:
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CITY LERK
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OFFICE OF THE CITY ATTORNEY-1700 CONVENTION CENTER DRIVE -MIAMI BEACH,FLORIDA 33139
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CITY HALL
OFFICE OF THE CITY MANAGER 1700 CONVENTION CENTER DRIVE
ROB W.PARKINS TELEPHONE: 673-7010
CITY MANAGER
COMMISSION MEMORANDUM NO. 17 U
DATE: June 1-6, __1982
TO: Mayor Norman C • •
Members of • : City Co i • •
FROM: Rob W. Park s ,�
City Manager ;.k
SUBJECT: Proposed Settlement of Pending Litigation between the
City of Miami Beach and the Miami-Dade Water and Sewer Authority
To facilitate its operational requirements the following criteria is a proposed settlement
agreement between the City of Miami Beach and Miami-Dade Water and Sewer Authority.
1. The sewer transmission main from the west end of Biscayne Street on Miami Beach to
Virginia Key Treatment Plant be sold to WASA at the April 30, 1982, indicated book
value of $1,917,696.18.
2. Said sales price be compensated by a promissory note executed by WASA in favor of
the City of Miami Beach, inclusive of interest at the annual rate of 8-1/3% payable in
60 monthly installments, of $39,166. This would provide a total interest payment by
WASA to the City of Miami Beach of $432,264 for a total price including principal and
interest of $2,349,960.18.
3. Payments as indicated above would be made retroactive to July 1, 1981. Therefore,
payments for the eleven months ending May 31, 1982, at the monthly rate of $39,166,
would require a remittance by WASA to the City of Miami Beach of $430,826.
4. It is estimated that Item 3 would provide more than sufficient funds to liquidate the
charges by WASA based on the July 1, 1981 rate of $0.3779/per 1,000 gallons through
and including May 31, 1982. It is intended that there be no deficiency assessed against
Miami Beach by WASA for any claimed charges for bulk sewage disposal from July 1,
1981 to May 31, 1982.
5. The City of Miami Beach would continue paying its bonded indebtedness covering the
investments in the relevant sewage transmission main at a weighted average interest
rate of 5.63% while collecting from WASA an interest rate of 8-1/3%.
6. All pending litigation would be terminated and a resolution of future disputes with
respect to the issues contained herein permanently concluded.
7. The responsibility for maintenance of the subject sewage transmission main would be
assumed by W ASA.
8. W ASA would agree to grant the City of Miami Beach an option to re-acquire the
-- - sewage transmission main utilizing an unrecovered cost method.
9. WASA would be given full access to Miami Beach financial records, as-built drawings
and other documents as is customary in an acquisition of the type contemplated
herein.
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