Tab 47 BofA SECURITIES
TO: Working Group
FROM: BofA Securities, Inc.
DATE: July 22, 2025
RE: Final Closing Instructions
Miami Beach Redevelopment Agency,Tax Increment Revenue Refunding Bonds,Series 2025 (City Center/Historic
Convention Village)
Time and Location of Pre-Closing:
The pre-closing will be held virtually on Thursday,July 24, 2025.
Time and Location of Closing:
The closing will be held on Thursday, August 7, 2025, commencing at approximately 10:30 a.m. Eastern Time, at
which time wire transfers will be confirmed and DTC will be contacted to close. Please use the following Teams
login or dial-in instructions:
Teams:Join the meeting now/ Meeting ID: 281 532 870 7010/Passcode:4m4F2XH3
Dial in by phone: 1-689-218-0591/Phone Conference ID:461 342 39#
Sources and Uses of Funds:
SOURCES
Par Amount $240,910,000.00
Original Issue Premium 14,980,598.95
Other Legally Available Funds 3,667,900.00
Total Sources $259,558,498.95
USES
Refunded Bonds(Cash Deposit) $256,693,733.33
Underwriters' Discount 734,611.10
Cost of Issuance 841,627.54
Insurance Premium 1,288,526.98
Total Uses $259,558,498.95
Net Bond Proceeds Due at Closing:
On Thursday, August 7, 2025 BofA Securities shall authorize the release of three (3) Federal Funds wires totaling
$252,766,387.85 equal to the Series 2025 principal amount of$240,910,000.00 plus an original issue premium of
$14,980,598.95 less an underwriter's discount of$734,611.10 less the Good Faith Deposit of$2,389,600.00.
Par Amount of Series 2025 Bonds $240,910,000.00
Plus:Original Issue Premium 14,980,598.95
Less: Underwriters' Discount (734,611.10)
Less:Good Faith Deposit (2,389,600.00)
Net Bond Proceeds Due at Closing $252,766,387.85
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Three (3) Wires from BofA Securities:
1. Wire from BofA Securities to the Paying Agent:
By 8:30 a.m. Eastern Time on Thursday, August 7, 2025 a wire totaling $250,636,233.33 (representing the
refunding deposit funded from bond proceeds, less the Good Faith Deposit) will be sent by BofA Securities
Syndicate Settlement payable in immediately available Federal Funds to U.S. Bank Global Corporate Trust (as
Paying Agent) pursuant to the wiring instructions below:
Wire Amount: $250,636,233.33
Bank Name: U.S. Bank National Association
ABA Number: -
Account Number:
Account Name:
Reference: Miami Beach RDA
Beneficiary Address: 777 E.Wisconsin Avenue Milwaukee, WI 53202-5300
Attention: Paul Henderson/404-965-7218/paul.hendersonl@usbank.com
2. Wire from BofA Securities to the Miami Beach Redevelopment Agency:
By 8:30 a.m. Eastern Time on Thursday, August 7, 2025 a wire totaling $841,627.54 (representing the costs of
issuance) will be sent by BofA Securities Syndicate Settlement payable in immediately available Federal Funds to
the Miami Beach Redevelopment Agency(as Issuer) pursuant to the wiring instructions below:
Wire Amount: $841,627.54
Bank Name: JP Morgan Chase
ABA Number: -
Account Number: -
Account Name:
Wire Reference: Refunding Bonds 2025 Costs of Issuance
Attention: Maria Bonora/mariabonora@miamibeachfl.gov
3. Wire from BofA Securities to Assured Guaranty:
By 8:30 a.m. Eastern Time on Thursday, August 7, 2025 a wire totaling $1,288,526.98 (representing the Bond
Insurance Premium)will be sent by BofA Securities Syndicate Settlement payable in immediately available Federal
Funds to Assured Guaranty(as Bond Insurer) pursuant to the wiring instructions below:
Wire Amount: $1,288,526.98
Beneficiary Bank Name: JP Morgan Chase, New York
ABA Number: -
Beneficiary:
Account Number: -
Policy Number: -
Attention: Audrey Udit-Adler/212-339-3548/audit-adler@agltd.com
[Continued on following page]
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One (1) Wire from the Miami Beach Redevelopment Agency:
1. Wire from the Miami Beach Redevelopment Agency to the Paying Agent:
By 8:30 a.m. Eastern Time on Thursday,August 7, 2025 a wire totaling$6,057,500.00 (representing the refunding
deposit funded from the Interest Account Deposit and Principal Account Deposit from the refunded bonds plus
the Good Faith Deposit)will be sent by the Miami Beach Redevelopment Agency payable in immediately available
Federal Funds to U.S. Bank Global Corporate Trust (as Paying Agent) pursuant to the wiring instructions below:
Wire Amount: $6,057,500.00
Bank Name: U.S. Bank National Association
ABA Number: -
Account Number:
Account Name:
Reference: Miami Beach RDA
Beneficiary Address: 777 E. Wisconsin Avenue Milwaukee, WI 53202-5300
Attention: Paul Henderson/404-965-7218/ paul.hendersonl@usbank.com
Delivery of Bonds:
The Miami Beach Redevelopment Agency, Tax Increment Revenue Refunding Bonds, Series 2025 (City
Center/Historic Convention Village) will be issued as book-entry only through DTC.
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