Resolution 12499 RESOLUTION NO. 124)9
WHEREAS, the completion of the expansion of the Miami Beach Convention
Hall is of paramount importance in attracting large conventions to the City
of Miami Beach, and
WHEREAS, the Theatre of Performing Arts is a necessary civic improvement,
not only for the benefit of the residents of the City but also for the
promotion of the City's tourist industry, and
WHEREAS, the City of Miami 3each is authorized to finance the
expansion of its Convention Hall and the construction of said Theatre of
Performing Arts through the proceeds of its resort tax; and
WHEREAS, it is understood by the City of Miami Beach and representatives
of The Pressprich Corporation that there will be no charge to the City of
Miami Beach for this survey,
NOW, THEREFORE, BE IT DULY RESOLVED by the City Council of the City of
of Miami Beach that the financial consultants of the City be and they are
hereby directed to study and examine the feasibility of financing said
improvements of said Convention Hall and the construction of the Theatre
of Performing Arts through the issuance and sale of appropriate revenue
bonds, the payment of which shall be secured by the pledge of proceeds of
the City's resort tax, either singly or in combination with other City
utility or excise taxes.
BE IT FURTHER RESOLVED that The Pressprich Corporation be and they
are hereby requested and directed to submit said reports and recommendations
to the City Council with all due dispatch.
PASSED and PDOPTED this 21st day of August, 1968.
II40
', Mayor
ATTEST:
e/e:
City Clerk and Finance Director
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