Tab 06 CHAIRPERSON'S CERTIFICATE
I, Steven Meiner, Chairperson of the Miami Beach Redevelopment Agency (the
"Agency"), DO HEREBY CERTIFY that:
1. Pursuant to Resolution No. 619-2015 adopted by the Chairperson and Members of
the Agency (collectively, the "Commission") on October 14, 2015 (the "Original Resolution")
and Resolution No. 708-2025 adopted by the Commission on May 21, 2025 (the "Series 2025
Resolution" and, together with the Original Resolution, the "Bond Resolution"), the Chairperson
and Members of the Agency authorized the issuance of the Agency's Tax Increment Revenue
Refunding Bonds, Series 2025 (City Center/Historic Convention Village), in an aggregate
principal amount not to exceed $267,000,000 (the "Series 2025 Bonds"), set forth certain details
with respect to the Series 2025 Bonds and delegated, subject to the limitations contained in the
Bond Resolution, certain matters, including the final award of the Series 2025 Bonds, to the
Executive Director as evidenced by a Chairperson's Certificate.
2. All terms used herein in capitalized form and not defined are as defined in the
Bond Resolution.
3. Pursuant to the authorization contained in the Bond Resolution and the
recommendations of the Chief Financial Officer and the Financial Advisor, the Series 2025
Bonds are hereby directed to be issued by the Agency and awarded to the Underwriters upon
compliance with the conditions contained in the Bond Resolution and the Series 2025 Bond
Purchase Agreement and payment of the purchase price thereof.
4. The Series 2025 Bonds shall be issued in the aggregate principal amount of
$240,910,000, shall be issued as Tax-Exempt Bonds, shall be dated as of their date of delivery,
shall be numbered R-1 and upwards, shall have Interest Payment Dates of February 1 and August
1 of each year, commencing February 1, 2026, and shall consist of Serial Bonds maturing on
February 1 of the years, bearing interest at the fixed rates and offered at the initial offering prices
set forth in Schedule A attached hereto. Interest on the Series 2025 Bonds shall be computed on
the basis of a 360-day year of twelve 30-day months.
5. The Series 2025 Bonds maturing on or before February 1, 2035 are not subject to
redemption prior to maturity. The Series 2025 Bonds maturing on and after February 1, 2036 are
subject to redemption prior to maturity, at the option of the Agency, on or after February 1, 2035
in whole or in part at any time, in any order of maturity selected by the Agency and by lot or by
such other manner as the Registrar shall deern appropriate within a maturity, at a redemption
price equal to one hundred percent (100%) of the principal amount of the Series 2025 Bonds to
be redeemed, together with accrued interest to the date fixed for redemption.
6. As determined by the Executive Director, in reliance upon the recommendations
of the Chief Financial Officer and the Financial Advisor, it has been determined that there is an
economic benefit to the Agency to secure and pay for a municipal bond insurance policy (the
"Series 2025 Bond Insurance Policy") issued by Assured Guaranty Inc. ("AG") for the Series
2025 Bonds. The Series 2025 Bond Insurance Policy shall be issued concurrently with the
11 04780731\3\AMERICAS
issuance of the Series 2025 Bonds pursuant to a Municipal Bond Insurance Commitment dated
July 7, 2025 for the issuance of the Series 2025 Bond Insurance Policy.
7. The purchase price to be paid by the Underwriters to the Agency for the Series
2025 Bonds shall be $255,155,987.85 (consisting of$240,910,000 aggregate principal amount of
Series 2025 Bonds, plus original issue premium of $14,980,598.95 and less underwriting
discount of $734,611.10). The purchase price for the Series 2025 Bonds shall be paid in the
manner provided in the Bond Purchase Agreement at closing. The purchase price (not including
original issue premium or original issue discount) for the Series 2025 Bonds is 99.695% of the
aggregate principal amount of the Series 2025 Bonds, which is not less than the Minimum
Purchase Price.
8. The TIC on the Series 2025 Bonds of 4.356492% results in total present value
debt service savings on the Series 2015A Bonds to be Refunded of 5.062866%, which is greater
than the Minimum PVS.
9. The final maturity of the Series 2025 Bonds is no later than February 1, 2044.
IN WITNESS WHEREOF, I have hereunto set my hand this 7"' day of s , 2025.
Steven Meiner, Chairperson
Miami Beach Redevelopment Agency
2
SCHEDULE A
SERIES 2025 BONDS
$240,910,000 Serial Bonds
Maturity Date
(February 1) Principal Amount Interest Rate Price
2026 $ 4,515,000 5.00% 101.081
2027 8,300,000 5.00 103.247
2028 8,730,000 5.00 105.241
2029 9,180,000 5.00 107.115
2030 9,650,000 5.00 108.549
2031 10,145,000 5.00 109.830
2032 10,665,000 5.00 110.648
2033 11,210,000 5.00 111.050
2034 11,780,000 5.00 111.393
2035 12,385,000 5.00 110.570
2036 13,025,000 5.00 109.229*
2037 13,690,000 5.00 107.909*
2038 14,390,000 5.00 106.687*
2039 15,130,000 5.00 105.643*
2040 15,905,000 5.00 104.847*
2041 16,720,000 5.00 103.824*
2042 17,580,000 5.00 102.967*
2043 18,485,000 5.00 101.966*
2044 19,425,000 5.00 101.584*
* Priced to first optional redemption date of February 1, 2035.
A-1
1104780731 MAMERICAS