251-96 RDA
RESOLUTION NO.
251-96
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF
THE MIAMI BEACH REDEVELOPMENT AGENCY,
PROVIDING AUTHORITY FOR THE SIGNING OF
VOUCHERS AND TRANSFERS OF FUNDS IN BANKERS
TRUST COMPANY
WHEREAS, the Miami Beach Redevelopment Agency has established a
Construction Account at Bankers Trust Company; and
WHEREAS, the Mayor and City Commission wish to designate signatories who may
execute vouchers and transfers in order to draw upon funds for the benefit of the Agency.
NOW THEREFORE, BE IT RESOLVED by the Chairman and Members of the
Miami Beach Redevelopment Agency:
Section 1: That on and after the 25th day of September 1996, all withdrawal of funds
from the Miami Beach Redevelopment Agency account described as follows:
BANKERS TRUST COMPANY
Account "Loews Miami Beach Hotel Construction Fund"
designated
Section 2. That any two of the following specified individuals may execute an official
duly prepared voucher or cash transfer bearing the various designations as
given above, each bearing two signatures as follows:
a. R. J. NACHLlNGER, as City Finance Director, or
b. R. W. SPINNEY, as City Assistant Finance Director, or
c. ROBERT PARCHER, as City Clerk:
COUNTERSIGNED
a. JOSE GARCIA-PEDROSA, as Executive Director, or
b. SERGIO RODRIGUEZ, Deputy Director, or
c. HARRY S. MA VROGENES, as Assistant Director.
Section 3. That the above individuals shall execute a signature page concerning the
account, attached hereto as Exhibit "A".
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Section 4. And with the further provision as to the account enumerated above in
Bankers Trust Company withdrawals of funds from which shall be on
imprinted checks designated each bearing two signatures as set forth; or
bearing the signature consisting of the background and other identifying
symbols and facsimile signatures, as are imprinted on the sample checks
attached hereto and made a part thereof; and the City's Finance Director is
hereby authorized to use said signature in connection with said accounts.
Section 5: That said Bankers Trust Company is hereby authorized and requested to
accept, honor and pay without further inquiry and until delivery to it of written
notice of the further inquiry, and until delivery to it of written notice of the
revocation of the authority hereby granted, all checks and other orders for
the payment or withdrawal of money deposited with said banks in the name
of said Miami Beach Redevelopment Agency including checks drawn to the
individual order of the officers signing same and including also all such
instruments payable or endorsed to the order of the Miami Beach
Redevelopment Agency, when such checks or other orders for money shall
be signed or endorsed in the name of the Miami Beach Redevelopment
Agency by its officers hereinbefore named.
PASSED AND ADOPTED THI
25th DAY OF S
1996.
Attest:
f2 ~d: ~~
Secretary
FORM APPROVED
REDEVELOPMENT AGENCY
GENER~
By /11!
Date ~~I/s/9 h
2
EXHIBIT "A"
Bankers Trust Company
Account designated: Loews Miami Beach Hotel Project
::all be on Offi~~pared and bearing two signatures as follows:
R. J. NACHLlNGER, as City Finance Director, or in his absence or inability to act
for any reason
-----? ;;;~/
By /__r ;?<~. ______-
R. W. SPINNEY, as City Assi ant Finance Director, or in his absence or inability to
act for any reason
By
120 v..u. d- P ~k
ROBERT PARCHER, as City Clerk:
COUNTERSIGNED
By
, ~-- -~
-
By
E GARCIA-PEDROSA, as Executive Director, or in his absence or inability to
for any reason
10 RODRIGUEZ, as Deputy Director, or in his absence or inability act for any
r son
By
HA . MAVROGENES, as Assistant Director, or in his absence or inability to
act for any reason
3
Miami Beach
Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Telephone: (305) 673-7193
Fax: (305)673-7772
REDEVELOPMENT AGENCY MEMORANDUM NO. 96-27
TO:
Chairman and Members of the
Miami Beach Redevelopment Agency
DATE: September 25, 1996
FROM:
Jose Garcia-Pedrosa
Executive Director
SUBJECT:
AUTHORIZATION FOR THE SIGNING OF VOUCHERS AND TRANSFERS DRAWN ON
FUNDS IN THE MIAMI BEACH REDEVELOPMENT AGENCY CONSTRUCTION ACCOUNT
WITH BANKERS TRUST COMPANY
ADMINISTRATION RECOMMENDATION:
The Administration recommends that the City Commission approve the authorization
for the signing of vouchers and cash transfers drawn on funds of the Miami Beach
Redevelopment Agency in Bankers Trust Company.
BACKGROUND:
The attached resolution is required, due to the recent issuance of the 1996 Tax
Increment Revenue Bonds and the resulting deposit of construction funds related
to the Loews Hotel proj ect into an account at Bankers Trust Company, which
necessitates Agency Board approval of authorized signatures to expend the funds
on the Loews project.
ANALYSIS:
Bankers Trust Company was selected at the time of issuance of the 1996 Tax
Increment Bonds to hold bond proceeds designated for the construction of the
Loews hotel proj ect. In this regard, it is necessary to adopt an Agency
resolution containing signature authority so that the may expend these funds.
CONCLUSION:
This resolution should be approved to designate signature authority over the
funds held at Bankers Truest Company.
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SEPTEMBER 25, 1996