Tab 24 CERTIFICATE AS TO DELIVERY
AND PAYMENT AND APPLICATION OF PROCEEDS
I, Eric Carpenter, Executive Director of the Miami Beach Redevelopment Agency (the
"Agency"), DO HEREBY CERTIFY that on the date hereof the Agency has caused to be
delivered to BofA Securities, Inc., on behalf of itself and the other underwriters (collectively, the
"Underwriters") listed in that certain Bond Purchase Agreement dated July 9, 2025,
$240,910,000 aggregate principal amount of Miami Beach Redevelopment Agency Tax
Increment Revenue Refunding Bonds, Series 2025 (City Center/Historic Convention Village)
(the "Series 2025 Bonds"), issued 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").
All terms used in capitalized form and not defined herein or defined by reference to
definitions contained in any other documents have the meanings assigned to such terms in the
Bond Resolution.
The Series 2025 Bonds were delivered upon the receipt by, or for the account of, the
Agency of net proceeds of the Series 2025 Bonds in the amount of $255,155,987.85, which
includes the good faith deposit in the amount of $2,389,600.00 previously received by the
Agency on July 7, 2025, representing the purchase price for the Series 2025 Bonds, calculated as
follows:
Par Amount of the Series 2025 Bonds: $240,910,000.00
Plus: Original Issue Premium 14,980,598.95
Less: Underwriters' Discount (734,611.10)
Net Proceeds: 255,155.9 :7.85
The net proceeds of the Series 2025 Bonds are being applied as follows:
A. $253,025,833.33, together with $213,733.33 on deposit in the Interest Account
and $3,454,166.67 on deposit in the Principal Account, is being deposited with
U.S. Bank Trust Company, National Association, as Paying Agent for the
Outstanding Series 2015A Bonds for the redemption on this date of the
Outstanding Series 2015A Bonds, except for $5,000 in principal amount of the
mandatory sinking fund payment due February 1, 2044 on the Outstanding Series
2015A Bonds maturing on February 1, 2044 (the "Refunded Series 2015A
Bonds").
B. $841,627.54 is being deposited with the Agency to the credit of the Series 2025
Cost of Issuance Account hereby created and established to be applied for the
payment of costs of issuance of the Series 2025 Bonds and refunding the
Refunded Series 2015A Bonds, other than the premium described in C. below.
Any moneys remaining in the Series 2025 Cost of Issuance Account on December
1104780693\3 AMERICAS
31, 2025, or such earlier date as determined by the Executive Director, shall be
transferred to the Interest Account.
C. $1,288,526.98 is being paid to Assured Guaranty Inc. ("AG"), which represents
the premium for the municipal bond insurance policy issued by AG relating to the
Series 2025 Bonds.
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IN WITNESS WHEREOF, I have hereunto set my hand this 7°i day of August, 2025.
Eric arpenter
Executive Director
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