Mayor's CertificateF
MAYOR'S CERTIFICATE
I, NEISEN O. KASDIN, Mayor of the City of Miami Beach, Florida (the "City"), DO
HEREBY CERTIFY that:
1. Pursuant to Resolution No. 95-21585 adopted by the Mayor and City Commission
of the City (collectively, the "Commission") on May 17, 1995 (the "Original Resolution"), as
supplemented by Resolution No. 2000-24041 adopted by the City Commission on July 26, 2000
(the "Series Resolution" and together with the Original Resolution, the "Bond Resolution"), the
Commission authorized the issuance of the City's Water and Sewer Revenue Bonds, Series
2000, in an aggregate principal amount not to exceed $55,000,000 (the "Series 2000 Bonds") for
the purposes set forth in the Series Resolution, set forth certain details with respect to the Series
2000 Bonds and delegated, subject to the limitations contained in the Series Resolution, certain
matters, including the final award of the Series 2000 Bonds, to the Mayor (as defined in the
Original Resolution), in connection with the issuance of the Series 2000 Bonds as evidenced by
the Series 2000 Mayor's Certificate (as defined in the Series Resolution).
2. All terms used herein in capitalized form and not defined are as defined in the
Bond Resolution.
Pursuant to the authorization contained in the Series Resolution and the
recommendations of the Finance Director and the Financial Advisor, the Series 2000 Bonds are
hereby directed to be issued by the City and awarded to the Underwriters upon compliance with
the conditions contained in the Series Resolution and the Bond Purchase Agreement and
payment of the purchase price thereof.
4. The Series 2000 Bonds shall be issued in the aggregate principal amount of
$54,310,000, shall be dated as of August 15, 2000, shall be Current Interest Bonds, shall have
Interest Payment Dates of March 1 and September 1 of each year, commencing March 1, 2001,
and shall consist of Serial Bonds and Term Bonds maturing on September 1 of the years, bearing
interest at the rates and offered at the initial yields set forth in Schedule A attached hereto.
5. The Term Bonds maturing on September 1, 2025, shall be subject to mandatory
redemption prior to maturity in part, by lot or by such other manner as the Bond Registrar shall
deem appropriate, on September 1, 2021 and on each September 1 thereafter, at a redemption
price equal to the principal amount thereof and accrued interest to the date fixed for redemption,
without premium, from monies representing Amortization Requirements deposited by the City to
the credit of the Redemption Subaccount of the Debt Service Account in accordance with
Section 505(b) of the Original Resolution. The Amortization Requirements with respect to each
redemption date and with respect to the maturity date shall be as follows:
�.5, 1
Redemption Date
Amortization
(September 1)
Requirement
2021
$3,150,000
2022
3,330,000
2023
3,520,000
2024
3,725,000
2025*
3,935,000
*Maturity
6. The Term Bonds maturing on September 1, 2027, shall be subject to mandatory
redemption prior to maturity in part, by lot or by such other manner as the Bond Registrar shall
deem appropriate, on September 1, 2026, at a redemption price equal to the principal amount
thereof and accrued interest to the date fixed for redemption, without premium, from monies
representing Amortization Requirements deposited by the City to the credit of the Redemption
Subaccount of the Debt Service Account in accordance with Section 505(b) of the Original
Resolution. The Amortization Requirements with respect to such redemption date and with
respect to the maturity date shall be as follows:
Redemption Date
Amortization
(September 1)
Reauirement
2026
$4,165,000
2027*
4,395,000
*Maturity
7. The Term Bonds maturing on September 1, 2030, shall be subject to mandatory
redemption prior to maturity in part, by lot or by such other manner as the Bond Registrar shall
deem appropriate, on September 1, 2028 and on each September 1 thereafter, at a redemption
price equal to the principal amount thereof and accrued interest to the date fixed for redemption,
without premium, from monies representing Amortization Requirements deposited by the City to
the credit of the Redemption Subaccount of the Debt Service Account in accordance with
Section 505(b) of the Original Resolution. The Amortization Requirements with respect to each
redemption date and with respect to the maturity date shall be as follows:
Redemption Date
Amortization
(September 1)
Reouirement
2028
$4,635,000
2029
4,865,000
2030*
5,110,000
*Maturity
�N 5�1
8. The Series 2000 Bonds shall be subject to redemption prior to their stated dates of
maturity, at the option of the City, from any moneys that may be available for such purpose, as a
whole or in part on any date on or after September 1, 2010, and if in part in any order of maturity
selected by the City and by lot or by such other manner as the Bond Registrar shall deem
appropriate within a maturity if less than a full maturity, at the redemption prices set forth below
(expressed as a percentage of the principal amount of the Series 2000 Bonds to be so redeemed)
if redeemed during the following redemption periods plus accrued interest to the date of
redemption:
Redemption Period Redemption
(Both Dates Inclusive). Price
September 1, 2010 through August 31, 2011 101.00%
September 1, 2011 through August 31, 2012 100.50
September 1, 2012 and thereafter 100.00
9. The purchase price to be paid by the Underwriters to the City for the Series 2000
Bonds shall be $53,348,968.95 (consisting of $54,310,000 principal amount of Bonds less net
original issue discount of $588,736.00 and Underwriters' discount of $372,295.05) plus accrued
interest from August 15, 2000. The purchase price of the Series 2000 Bonds shall be paid in the
manner provided in the Bond Purchase Agreement at closing. The purchase price of the Series
2000 Bonds is 99.31% of the principal amount of the Series 2000 Bonds (not including original
issue discount).
WITNESS MY HAND this 31" day of August, 2000.
OA
NEISEN O. KASDIN, Mayor
City of Miami Beach, Florida
3
SCHEDULE A
$13,480,000 Serial Bonds
Maturity Date
Principal
Interest
(September 1)
Amount
Rate
Yield
2016
$2,410,000
5.625%
5.240%
2017
2,550,000
5.625
5.300
2018
2,690,000
5.625
5.340
2019
2,840,000
5.250
5.410
2020
2,990,000
5.250
5.440
$17,660,000 5.750% Term Bonds maturing September 1, 2025 — Yield 5.400%
$8,560,000 5.500% Term Bonds maturing September 1, 2027 —Yield 5.550%
$14,610,000 5.000% Term Bonds maturing September 1, 2030 — Yield 5.550%