Loading...
RESOLUTION 83-17473 RESOLUTION NO. 83-17473 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, DIRECTING THE CITY MANAGER TO TAKE THE NECESSARY ADMINISTRA- TIVE ACTIONS TO EFFECTUATE FINANCIAL TRANSFERS AND EXPENDITURES. WHEREAS , the City Commission of the City of Miami Beach deems it in the best interest of the citizens of Miami Beach to direct the City Manager to make numerous financial transfers and expenditures, the details of which are familiar to the City Commission and which is included in the agenda package for the meeting at which this resolution was adopted; and WHEREAS , the details of such transfers and expenditures are more fully described in Commission Memorandum No. 89-83; and WHEREAS , the City Commission approved such transfers and expenditures at its February 2 , 1983 Commission meeting; and WHEREAS, the City Manager recommends these transfers and expenditures and the City Attorney has approved same as to form and legal sufficiency; NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the City Manager be authorized and directed to make the transfers and expenditures listed in Commission Memorandum No. 89-83 . PASSED AND ADOPTED this 21st day of September , 1983. MAYOR ATTEST: -`&V,o'lL?a2:44,4.-Ao City Clerk FORM APPROVED LEGAL. DEPT. CGK:b h � 8233A By , , QatQ i?82C f' OFFICE OF THE CITY ATTORNEY 1700 CONVENTION CENTER DRIVE -MIAMI BEACH,FLORIDA 33139 C ?q 7/4a4u I Feete4 FLORIDA 3 3 1 3 9 * INCoa ORATED *, V,4( 11 TIONL,:A NU U. S. ,1. 4 ,4. , OFFICE OF THE CITY MANAGER CITY HALL ROB W.PARKINS 1700 CONVENTION CENTER DRIVE CITY MANAGER TELEPHONE: 673-7010 COMMISSION MEMORANDUM NO. l'idejj DATE: September 7, 1983 TO: Mayor Norman Ciment and Members of the City. • - 'on FROM: Rob W. Parkins f City Manager ,r / I � SUBJECT: CLOSE-OUT OF BO D FUNDS In the process of issuing the twenty-four million dollar ($24,000,000) in General Oblig ation Bonds last February the Commission approved the attached memo stating the possible disposition of:.the various bond issues then on the City books. The attached resolution formalizes that action and facilitates the use of those bond funds to reduce the 1983/84 millage, provide funding for South Shore Park and begin the process of defeasance in the case of two (2) of the issues. ADMINISTRATION RECOMMENDATION: The Administration recommends that the attached resolution directing the City Manager to take the necessary Administrative actions to effectuate the close-out and/or defeasance of selective bond funds be adopted. RWP:PDY:apc ATTACH: (2) . .� . 40 /AGENDA ITEM '� eV1.10,,,,,..„ :;•.;. a ' . ' ` ' if . 4'.., s"i �' `rii yi55 y"} " "� -a �p . t » t ; • W � I eY • s,X +� as }t , r . 13r� t ,, rp 1 a ! I �. . ,k.r. �tPy . y � 4� KG 'g7! f! �. ! 1 L t t i. " i. .i :� ' .'„,4 ,. , TtA F 7 + i �. :4 � . a � .....3.-........, '� .fi„!Fa `tfr_"I1, ' ri' {F,- 'v yF +' •. r • - I. - ,rl a1•_ v 4 : ' . FLORIDA 3 3 1 3 9 ,.4.( pci,:,.t .* WM : •l's i e N CITY HALL NAaER 1�CONVENTION CENTER DRIVE OFFICE OF THE CITY MA TELEPHONE: 673-7'010 ROB W.PARKINSCITY MANAGER COMMISSION MEMORANDUM NO. DATE:.0..43.--' 3- February 2, 1983 y TO: Mayor Norman C tri Members of the - Commi =i• FROM: Rob W. Parkl liri, A„,,b,.. CityMane r P/�►ot. SUBJECT: STATUS RE' a RT •N BOND FUNDS • ofall current bond funds in conjunction The Administration has conducted an exhaustive review� with recommended actions with followingis a review of all open bond issues bond counsel. The as appropriate.. • ISSU t_AUGU5 ' 16 M Gravit Sa lit rir Sewers -- Fund 301 surplus funds in the amount of $1,095Y has been satisfied. Recommend thatP Outstanding The intent of the bond issue as approved in the 1981/82 budget. . $931,535 be transferred to the General Fund pp bonds have been defeased. $465 M Force Main Sewers - Fund 30?_ that the $41,102 balance be has been satisfied. Recommend The intent of this bond issue milia e. transferred to Debt Service to reduce the 1983/84 g 7OOMWU1i - Q3 that the $62 balance be transferred The intent - has been satisfied. Recommend The intent of this bond issue to Debt Service to reduce the 1983/84 millage. a4• jYL5L9sn:_L§____ewers - Fund 304 that the $132,322 balance be has been satisfied. fund to The intent of this bond issue Recommend end millage.e. This leaves $24,000 in the transferred to Debt Service to reduce the 1983/84g cover final charges. $280 M Fire Station r- Fund 305 The intent of thisbeen Recommend that the $18,61 l balance be bond issue has satisfied. Th transferred to Debt Service to reduce the 1983/84 millage. , Oceanf ront Park - Fund 306 commend that the $3,671 balance be $ ,5ç9M of this bond Issue has been satisfied. e The intent transferred to Debt Service to reduce the 1983/84 millage. ISSUE AUGUST 1Y 1968 South Shore Communit Center - Fund 307 that the $53,352 balance be M•--�- has been satisfied. Recommend end The intent of this bond issue • transferred to Debt Service to reduce the 1983/84 millage. Street Paving - Fund 308 Drive from $260 M Assessable that of reconstruction and widening of Biarritz Onlyone project remains incomplete, that $80,000 be retained in the fund Waterway. It is recommended Normandy Drive to Normandy to the General Fund. All bonds project and that the balance of $192,065 be transferred for this for this issue have been paid. P_I-IMA.9_nassessable Street Li:htin: - Fund 309, The intent of this issue has been satbyfunds being satisfied.ied. The deficit of $54,700 should be offset transferred to the General Fund. 4 4, . Report on Bond Funds February 2, 1983 Page -2- Status 4F�0 M Nonassessabie Street Paving - Fund 310 - --- --r------intent The e $233,673 of this bond issue has been satisfied. Recommend that the balanc of be transferred to Debt Service to reduce the 1983/84 millage. 500 M Storm Sewer System Improvements - Fund 311 intent ---�— balance of this bond issue has been satisfied. Recommend that the of be The I transferred to Debt Service to reduce the 1983/84 millage. 500 M Fire Station - Fund 312 Recommend that this fund be kept open to provide needed improvements to the Fire Station. $705 M Water Supply System Improvements - Fund 313 The intent of this bond issue has been satisfied. Recommend that the balance of $77,282 be transferred to Debt Service to reduce the 1983/84 millage. $1,000MSanary Sewer Outfall - Fund 314 This fund should remain open pending the outcome of current litigation. $1,140 Assessable Street Light Improvements - Fund 315 Thisproject has not been completed due to opposition of the property owners. Recommend that P $638,00 of the fund remain open for Normandy Isle from Normandy Waterway to Biscayne Bay, excluding71st Street and Normandy Drive $302,_500, Sunset Islands Nos. 3 and 4 $198,000, Prairie Avenue, 28th to 47th Streets $137,500 and that court action be instituted to resolve the balance of this issue. LLI 1, 1970 $..2 +495 M Waste Dis ► 1 Facilities - Fund 316 The construction conte.rap!ated for this issue was never carried out and disposal of waste is being handled byMetropolitan Dade County, therefore it is recommended that the fund be closed and � $373,071the balance in the amount of be returned to the General Fund. $11_495 M iscayne 8y Public Park - Fund 317 • The intent of this issue has been met and the accumulated interest in the amount of $81,304 should be transferred to the General Fund. ,95 M North Shore Community Center - Fund 318 The intent of this issue has been satisfied. It is recommended that the deficit of $2,972 be offset by funds being transferred to the General Fund. 500 M Civic Center Corr,.lex - Fund 319 �--1• satisfied. balance of $1,958 be intent of this bond issue has been Recommend that the The , transferred to Debt Service to reduce the 1983/84 millage. $4,000 M Theatre of the Performing Arts Fund 320 The intent of this bond iAsue has been satisfied; however, the account should remain open because of the deficit in the amount of $1,175,903 that is being funded from General Funds. $5,500_MMunicp1Adrnini5tratiVe and Court Building - Fund 321 The intent of this issue has been generally satisfied; however, many items were deferred because of lack of funds at the time of award. Interest during construction has resulted in a surplus of $814,638. It is recommended that the unappropriated portion of these funds be appropriated for continued improvements to the Municipal Building, such as storm shutters for the fourth floor, completion of the security system throughout the building, and other improvements that are necessary to have the building function for entry from the first floor. The building originally was designed for entry from an overhead walkway on the third floor and some immediate improvements should be made. Such items as restrooms for the Council Chambers, etc. should also he included. „.. .. 43 ,...o . r, .,.....ca. .wwvwa•caM/•..wr+...., .. „�,.,,w... w M.4 YY ' t• 'd" e:N';•r..y.t th . ,, r 7:�' c,l'j��11:t'� .. a ... ... k�J.+4"w,i.�e _r�.i .fr.1,'; t T3k'ti' _ ,., ''i •h ' ..: s rf a.,.: r"4.,1-.,.�•. , :....4. :4 •:..k-',. .,.. ,;. ..,, i '* n. k . �4.s :�.e .. � it:ea f44,Nr- :r tilt y I :.,. ' .• • 1 ''•. _ Ar `'✓ ._ 474,t 3 t i yw' 4":, 4 '`' ,t" ' '•. . v Page -3- Status Report on Bond Funds February 2, 1983 ISSUE1 MARCH 1, 1972 a0,500 M Sewage Treatment - Collection Series 1-A, Fund 339 there are manyoutstanding The major portion of this bond issue has been completed; however, 1 items associated with the facility for transmitting sewage to Virginia Key that still have to be Fundingis beingheld for final audit by the E.P.A. The EPA grant requires that accomplished.• . re lace the gravitysanitary sewer system to reduce infiltration and after the final audit the City p will be reallocated and a program instituted to correct infiltration. In addition, a portion fundsP g of the funds will be reallocated to back up the facility which would include purchase of spare Parts, back-up cleaning equipment, etc. Also, these funds would be heavily used in the P Redevelo ment area to correct infiltration as the sewer system in the South Shore area will have to completely be com letel replaced and a pumping station and force main sewer have to be constructed. It is anticipated that these funds would be utilized over fiscal years 1983, 84 and 85. ISSUE SEPTEMBER 1, 1972 j200 M Park lm•rovements Series 4-A Fund 322 projects contemplated under this bond issue have been completed with the ConstructionP exception of the Julia Tuttle Causeway entrance landscaping and sign and the light rehabilitation in Flamingo Park. Since the landscaping on Julia Tuttle Causeway could be improved to • complement the Arthur project GodfreyRoad it is recommended that a minimum of $200,000 be retained for this purpose and $77,171 be retained for the lighting in Flamingo Park, which has p p just been completed charges ed and all char es have not been distributed. This will free up $225,883 that fry the South Shore Park to match Federal funds. To earmark these funds can be appropriated t h�. Commission will have to make an appropriation as only a portion of these funds has been appropriated. 3 753 M Park lm rovements f cries 4-B, Fund 323 Construction of the projects under this bond issue has been completed with the exception of the sailport and the improvements to Flagler Memorial Island. It is recommended that all other accounts be closed out and approximately $250,000 be reserved for the sailport, and $50,000 for p Flagler improvements to Fla ler Memorial Island, and the remaining $294,356 of surplus could be set aside for the South Shore Park to match Federal funds. To earmark these funds the Commission will have to make an appropriation as only a portion of these funds has. been appropriated. 1$2:1:11.V1 Park Im.rovements Series 4-C Fund 324 construction projects under this bond issue have all been completed. It is.recommended that The funds be closed out and the surplus in the amount of $481,141 be appropriated for the South the P Shore Park to match Federal funds. $1,160 M Streets and Bridges - Fund 325 Recommend that this issue be kept open to provide for the currently in- progress Normandy Isle Bridge replacement ($440,000) and a program of street resurfacing ($487,000) and alley p reconstruction ($1 14,000) to be carried out in the summer of 1983. 935 M Water Improvements - Fund 326 Recommend that the project be kept open to fund the following projects: (1) $206,000 is requiredcomplete to installation of water mains on Biscayne Point that are scheduled for construction this summer. This project is essential for fire flow requirements. The City indicated to both the fire underwriters and Metropolitan Dade County fire officials that this project would be constructed to improve the fire flow requirements. (2) Construction of water main, including subaquaeous portion from the Venetian Causeway transmission main on DiLido Island to Hibiscus Island, would cost $550,000. The plans for the subaquaeous portions are complete and the City will be in a position to take bids in q approximately days.30 da s. It is estimated that this portion of the project will cost $300,000. A portion of this project has already been completed on Hibiscus Island and is presently This project is vital to the fire flow requirement on both Hibiscus and Palm Islands. inoperative. P j Palmp Y Island is articular) deficient in fire flow; also the Island has on Occasion been cut off because it has only one water supply. The land portions of this project are scheduled for construction in the summer and fall of 1983. 44 4 Page -4- Status Report onBond �'ands February 2, 1983 . to Star Island is essential for the us crossingfrom Hibiscus Island re proposed to the (3) Construction of an aduaeo and the previous project we . ,p p cost on Star Island. This projectThe fire flow requirementsfire officials to correct the deficiency. and • and Metropolitan Dade County for the Spring of 1984 fire this portion underwriters ter5 P This project is scheduledrequired bylaw. of pc �rtic�rl is estimated to be $296,000. �. tai permitting process scheduled earlier because,of the environmental Saha uaeous mains. has haveot been s the permitting process for the other q We$28 almost completed. p g M Fire u! rnest - Fund327 Recommend that this fundbe left open to provide for immediate improvements to fire equipment- upto the balance of $33,070. m en t Hall Ing raverr�ents -- Fund 328 • and Convention _._..p__Y__- 3 def icit be offset by funds being 40,0 M Auditoriummet. Recommend that the 5 Th eintent of this issue has been transferred to the General Fund. Works Yard Serie 3-A� Fund 329 23O M Relocate Public Wo 3_g Fund 330 _0 ._�. Works Yard Se .-._._�. 500 M Relocate Public_ -z--- ries 3-C Fund 34C� kis still in 4 40a M Relocate Public 'Works Yard.Se_._...__ has not been completed; war -- contemplated under these bond issues The construction co P be earmarked for reallocation of • - that the funds remaining aining wii It is anticipated progress. W aCehousing andBuilding Maintenance in 1984. Oceanfront Park Addition - Fund 331 the balance of $219,603 be $.2,900 M South ' satisfied. Recommend that The intent of this bond issuebeen has transferred d to Deb Service to reduce the 1983/84 millage. • Data f'rocessin - Fund 3.32 $4,224 be xc d that the balance of TheM Electron .-...�.._. Recommend en • bond- iss��e has been satisfied.The tnter�t of this bo transferred to Debt Serv1Ce to reduce the 1983/84 m Wage. ISSUFu___MARCH 1 197 3 Land Pro'et - Series I - Fund 333 deficit be offset by funds 1 9pn e -n S•ace Recommend that the $17,555 The intent of this issue has been met. being transferred erred to the General Fund. • ai Land - Series 2-A - Fund 334 • 2 400 M Parks and Recreation Fund previously closed out. er Com lex Series 3 - Fund 335 in lite ation. $.b.222, i_Civic - Convention Cent r ha5e of the Horowitz property is g Recommend that this issue remain open as the purchase • Corn.les - Series 4 - Fund 336 offset byfunds $L3OO M Civic - Convention Center the 21,992 deficit be The intent • has been met. Recommend that The intent of this issue being Fund. transferred to the General nd Recreation Land - Fund 337 be that the balance of $662,571 . -�this � d issue has been satisfied. Recommend The intent of bond transferred to Debt Service to reduce the 1983/84 rnit lage- Shore Communit Center - Fund 338 at the balance of $121,330 be 300 M South been satisfied. Recommend that The intent of this bond issue has millage. transferred to Debt Service to reduce the. 1983/84 illy g 'on Land - Series 2-B - Fund 341 General Fund - 2 500 M Parks and Recreate interest accumulated in this completed fund should be transferred to the $207,010. UF, MARCH 1.2i._..91.-1.-;_ISS , --�--- O.-n S.•ce Series 1 - Fund 342 Ce of $216,600 be $22_5_40.2Y1 Parks - Recreation � fled. Recommend that the bales intent of this bond issue has been sates e. The i n transferred to Debt Service to reduce the 1983/84 m i ag 45 • .... .s . . ... ..„ _ _ 5• , - htt'ie"( 1 t' f E,. .t h •_, ., 'Y� .a `,,:.. r .. • 4,. • s . V � .• r Vii. . • . r'�x 'vim y4^ ,�� . l :, ). ;^.,i.^ � :'_ , `' s:•A!'- ri� a rti'- tee` /.. +y'n` Page -5- Status Report on Bond Funds February 2, 1983 900 M Convention Hall Facilities - Series 2 - Fund 343 The intent of this bond issue has been satisfied. Recommend that the balance of $48,757 be transferred to Debt Service to reduce the 1983/84 millage. $500 M Convention Hall Facilities - Series 3 - Fund 344 The intent of this bond issue has been satisfied. Recommend that the balance of $46,647 be transferred to Debt Service to reduce the 1983/84 millage. $250 M North Shore Library - Series 5 - Fund 345 The intent of this bond issue has been satisfied. Recommend that the balance of $53,541 be transferred to Debt Service to reduce the 1983/84 millage. $250 M Community Facility, Series 6 - Fund 346 The intent of this issue has been met. Recommend that the $47,037 deficit be offset by funds being transferred to the General Fund. 300 MPark Development - Community Centers - Series 7 -- Fund 347 Thetent of this bond issue has been satisfied. Recommend that the balance of $157,721 be transferred to Debt Service to reduce the 1983/84 millage. $_400 M Street Lighting - Series 7 - Fund 348 Recommend that this issue be defeased and that funds in excess of the required principal and interest of $397,050 be transferred to the General Fund. - ($113,474) .150 M Tennis Cott Lighting - Series 9 - Fund 349 The intent of this b4:_.d issue has been satisfied. Recommend that the balance of $10,107 be transferred to Debt Service to reduce the 1983/84 millage. $2.9_11L11BikePath - Fund 350 Recommend that the issue be defeased and the balance in excess of bond principal and interest requirements of $323,300 be transferred to the General Fund ($71,547). 4 300 M Reallocation of Bond Funds - Fund 351 Projects under this fund are under construction. It is anticipated that all projects will be completed by September 1984. ADMINISTRATION RECOMMENDATION The Administration recommends that action be taken on open bond funds as outlined above and that the City Attorney prepare the necessary resolutions to defease bond funds 348 and 350. RWP:PDY:apc 46 • v 1 •, 22 y '44 'c.,n. �,.:.s .,:.',t.,.. .. .JFK.:.•. .- ..... .:.., V,". :t'. v-. 'r - , �.- tri .r:'L�3y,.., t. ,. "• .+:: `w.< <� �,��',r+c...� �d r,, , +«.��.a _ ri ., '��° ORIGINAL RESOLUTION NO. 83-17473 (Directing the City Manager to take the necessary administrative actions to effectuate financial transfers and expen- ditures)