I Sale Disclosure Statement
NEGOTIATED SALE DISCLOSURE STATEMENT
AND TRUTH IN BONDING STATEMENT
Pursuant to the requirements of Section 218.385, Florida Statutes, the following information
is provided by Florida Power & Light Company, Miami, Florida (the "Initial Purchaser") to the City
of Miami Beach (the "Issuer") in connection with the issuance of its $3,941,059 Non-Ad Valorem
Revenue Note, Series 1999 (the "Note").
1. The Initial Purchaser estimates that the itemized list of expenses set forth in Exhibit
"A" attached hereto will be incurred by it in connection with the issuance of the Note.
2. The names, addresses and estimated amounts of compensation of any finders
connected with the issuance of the Note are listed below. A finder, as defined by Section
218.386(1)(a), Florida Statutes, as amended, is a person who is not regularly employed by, or not
a partner or officer of, an underwriter, bank, banker, or financial consultant or adviser, and who
enters into an understanding with either the issuer or the managing underwriter, or both, for any paid
or promised compensation or valuable consideration directly or indirectly, expressly or implied, to
act solely as an intermediary between said Issuer and managing underwriter for the purposes of
influencing any transaction in the purchase of such bonds.
None
3. The amount of underwriting spread expected to be realized by the Initial Purchaser
in connection with the issuance of the Note is:
Not applicable
4. The managing fee to be charged by the Initial Purchaser in connection with the
issuance of the Note is expected to be:
Not applicable
5. The other fees, bonuses, and other compensation estimated to be paid by the Initial
Purchaser in connection with the Note to any person not regularly employed or retained by the Initial
Purchaser, are as follows:
None
6. The name and address of the Initial Purchaser is as follows:
Florida Power & Light Company
700 Universe Boulevard
Juno Beach, Florida 33408
Attn: Dilek L. Samil
7. The Issuer is proposing to issue $3,941,059 of debt for the purpose of paying the
additional cost attributable to underground construction of an electric transmission line between 40th
Street and the Venetian Substation of Florida Power & Light Company. This debt or obligation is
expected to be repaid over a period of approximately ten (10) years. At an interest rate of 4.75%,
total interest paid over the life of the debt will be approximately $1,038,767.
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8. The source of repayment or security for the Note is a covenant to budget and
appropriate non-ad valorem revenues of the Issuer. Authorizing this debt will result in as much as
approximately $4,979,826 of such non-ad valorem revenues not being available to finance other
services of the Issuer until after June 1, 2009, the scheduled repayment date of the Note.
It is our understanding that the Issuer has not requested any further disclosure from the
Initial Purchaser.
Dated: June 28, 1999
FLORIDA POWER & LIGHT COMPANY
By: (lAd..l ~~
Dilek L. Samil
Treasurer and Assistant Secretary
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2
EXHIBIT "A"
EXPENSES
Initial Purchaser's Counsel
$
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