2000-24084 RESO
RESOLUTION NO, 2000-24084
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE THE CONTRACT FOR
GUARANTEE ASSISTANCE, THE GRANT AGREEMENT,
PROMISSORY NOTE AND ALL APPLICABLE DOCUMENTS
BETWEEN THE DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT (HUD) AND THE CITY OF MIAMI BEACH FOR
AN ECONOMIC DEVELOPMENT INITIATIVE GRANT IN THE
AMOUNT OF $1,000,000 AND FOR LOAN GUARANTEE
ASSISTANCE UNDER SECTION 108 OF THE HOUSING AND
COMMUNITY DEVELOPMENT ACT OF 1974, AS AMENDED, IN
THE PRINCIPAL AMOUNT OF $4,000,000, PLEDGING THE CITY
OF MIAMI BEACH'S ANNUAL COMMUNITY DEVELOPMENT
BLOCK GRANT (CDBG) ENTITLEMENT FUNDS FOR THE
REPAYMENT OF SAID LOAN AND FURTHER PLEDGING TO THE
PAYMENT OF SAID NOTE ONE SIXTH (1/6) OF THE ADDITIONAL
ONE PERCENT (1 %) RESORT TAX, APPROVED BY THE VOTERS
OF THE CITY ON NOVEMBER 3, 1992 AND LEVIED AND
COLLECTED BY THE CITY PURSUANT TO CHAPTER 67-930,
LAWS OF FLORIDA, ACTS OF 1967, AS AMENDED, AND
ORDINANCE NO. 93-2829 (CODIFIED IN SECTION 102-307 OF THE
MIAMI BEACH CODE), ON A SUBORDINATED BASIS, IN THE
EVENT THAT THE PROCEEDS OF THE CDBG ENTITLEMENT
FUNDS ARE INSUFFICIENT THEREFOR; AND PROVIDING FOR
AN EFFECTIVE DATE.
WHEREAS, the U,S, Department of Housing and Urban Development (HUD) Section 108
Loan Guarantee Assistance Program provides loans to eligible municipalities to undertake large scale
projects that foster viable economic development in urban communities; and
WHEREAS, on April 28, 1999, the Mayor and City Commission adopted Resolution No,
99-23147, authorizing the City Manager to submit an application to HUD for a $1,000,000
Economic Development Initiative (EDI) grant and a $4,000,000 Section 108 loan for projects that
included street scape improvements in the North Beach area and completion of the North Shore
Youth Center; and
WHEREAS, on September 20, 2000, the City of Miami Beach received notification from
HUD of its intent to approve the City's request for Loan Guarantee Assistance and the EDI grant,
subject to the pledge of additional collateral and execution of all documents relative to the EDI by
no later than, September 27, 2000; and
WHEREAS, on July 17, 1996, the Mayor and City Commission adopted Resolution No,
96-22078, authorizing the City Manager to execute a Funding Approval Agreement between HUD
and the City of Miami Beach in the amount of $14,870,000 which was not funded; and
WHEREAS, HOD has advised that said Funding Approval Agreement will be amended to
reflect the revised loan amount of $4,000,000; and
WHEREAS, local governments that borrow funds under the Section 108 Loan Guarantee
Assistance program, pledge their current and future Community Development Block Grant (CDBG)
allocations (up to the loan amount) as security for the loan and the use of CDBG funds to pay back
the loan is acceptable to HOD; and
WHEREAS, HUD requests that the City pledge additional collateral in the event that the
proceeds ofthe CDBG entitlement funds are insufficient therefor; and
WHEREAS, in the event that such pledged entitlement funds are, at any time insufficient,
the City is further pledging for the payment of such loan one sixth (1/6) of the additional one percent
(1 'Yo) of Resort Tax, provided however, that such pledge shall be subordinate to any present or future
bonds or other obligations to which the Resort Tax may be pledged,
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AS FOLLOWS:
Section 1. The matters set out in the foregoing recitals are true and correct, and they are
hereby incorporated as a part ofthis Resolution,
Section 2. The Mayor and City Commission authorize the Mayor and City Clerk to
execute the Guarantee for Loan Assistance, the EDI Grant Agreement, Promissory Note and all other
applicable documents between HOD and the City of Miami Beach for the Economic Development
Initiative Grant in the amount of$I,OOO,OOO and for Loan Guarantee Assistance under Section 108
of the Housing and Community Development Act of 1974, as amended, in the principal amount of
$4,000,000,
Section 3. The Mayor, City Clerk, City Manager, City Attorney and Finance Director are
hereby authorized and directed to do all things and execute all documents necessary to carry out the
intent of this Resolution, including, without limitation, establishment of a custodial account and
issuance of a request for advance of funds,
Section 4.
This Resolution shall take effect immediately upon its adoption,
PASSED and ADOPTED this 27th day of September, 2000,
ATTEST:
(;kJ- f~
CITY CLERK
APPROVED AS 10
FORM & IANGlJAGf
& fOR EXECUTION
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Resolution No. 2000-24084
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CITY OF MIAMI BEACH
OFFICE OF THE MAYOR & COMMISSION
MEMORANDUM
TO: JORGE M, GONZALEZ'
CITY MANAGER
JOSE SMITH ~ ~/ ~t;
CITY COMMISSIONER
FROM:
DATE:
SEPTEMBER 20, 2000
RE:
SECT..lON 108 LOAN
Please provide a status report on the City's request for a H,U,D, Section 108 loan for streetscape
projects in the North Beach area. I would like a discussion of this matter at the September 27"',
Commission Meeting,
JS/ept
.
Agenda Item r<.. C/,])
Date q-Li-oa
CITY OF MIAMI BEACH
;ITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
lttp:\\ci.miami-beach.fl.u5
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COMMISSION MEMORANDUM NO,
'/<tS-OD
TO:
Mayor Neisen 0, Kasdin and
Members of the City Commission
DATE: September 27, 2000
FROM:
Jorge M, Gonzalez ). ~
City Manager ' Y", - 0
SECTION 108 LO
SUBJECT:
Concurrent to Commissioner Smith's September 20, 2000 request to provide a status report on the
City's request for a HUD Section 108 loan for streetscape projects in the North Beach area, the
Administration was notified that same afternoon ofHUD's intent to issue final approvals for the
Section 108 loan application submitted in August 1999 and the amended ED! Application submitted
in May 2000,
By way ofbackgrouna, the City submitted a $4 million Section 108 loan to HUD to be utilized to
fund $1 million for the North Shore Park and Youth Center and $3 million for public infrastructure
improvements in the North Beach target area, a portion of which will be utilized specifically to
perform street improvements adjacent to the City-owned "72nd Street Site", A breakdown of
improvements is provided below: The $1 million ED! grant would be utilized to defray debt service
costs incurred in connection with the Section 1 08 loan,
North Shore Park and Youth Center:
The proposed budget and corresponding funding sources for the North Shore Park and Youth Center
are as follows:
Section 108 Loan
Barry University Grant
Total North Shore Park & Youth
Center Construction Budget:
$3,972,181
$1,350,000
$1,000,000
$259,000
Parks Bond Funds
G,Q, Bond Funds
$6,581,181
AGENDAITEM R-gJ) I
DATE3-2,-(P
Streetscape Improvements:
The proposed street improvements in North Beach are as follows:
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NORTH BEACH
Tatum Waterway177th $563,000
Marseille Drive $800,000
Bay Drive and Biarritz $ 1 ,000,000
Other North Beach Improvements $637,000
Total Streetscape Improvements
funded via Section 108 Loan: $3,000,000
The aforementioned street improvements are in the CDBG target area and will supplement
$4,150,000 in G,O,--l3ond funds allocated for Normandy Isle/Sud Neighborhood Streetscape
improvements,
A chronology can be provided ofthe numerous attempts the Administration and the City's lobbyists
have made to solicit a more timely approval by HUD, Nonetheless, HUD has now notified the City
of its intent to approve both applications subject to responses being provided on 3 separate issues
and the subsequent immediate execution of authorizing documents,
The attached letter dated, September 21, 2000, provides clarification to HUD's request for additional
information, Specifically,
(1) the creation of jobs and assurances on how those jobs will benefit the low and moderate
income (LM!) population,
(2) collateral the City can offer in addition to the City's CDBG entitlement funds, and
(3) the proposed repayment schedule,
As described in the attached letter,
(1) Job Creation and Benefit to LMI: if the City proceeds with the development of the nnd
Street Site, it is proposed that a First Source Hiring Clause be included in the Development
and Lease Agreement to be negotiated with Equity One or any subsequent Developer and it
is also proposed that the City partner with NBDC and UNIDAD to solicit area merchants and
businesses to execute a North Beach First Source Hiring Agreement.
(2) Collateral: HUD is seeking collateral in addition to the City's CDBG entitlement. It is
proposed that the following additional collateral be proffered:
. With respect to the North Shore Park & Youth Center, City Charter section 1,03 (b),
prohibits, without electorate approval, a conveyance of any City-owned Park or
Recreational Facility, The City, however, will explore any legally pennissible means
whereby the property may be applied as security to HUD, (The Section 108 loan will
provide $1,000,000 in funding of a $6,6 million total project budget as described
above, )
. The City will pledge not to sell the North Shore Youth Center site, during the tenn
of the loan,
. The City will pledge to utilize the North Shore Youth Center site for Youth
programs, during the tenn <;lfthe loan,
. The City will pledge future ''North Beach - Quality of Life" funds as described in the
attached memorandum, This pledge represents a City pledge of the '!3 portion of the
y, of the additional 1% of Resort tax on room revenues collected in Miami Beach,
also known as "Resort Tax",
(3) Repayment Tenn: A repayment schedule was provided in the original Section 108 Loan
Application, As a result of the change in the interest rate environment, the City has requested
that HUD assess the most favorable interest rate pennissib1e so as to maximize the
investment iir1he Community, The repayment tenn proposed is over a 10-year period,
In light of HUD's mandate to finalize execution of all corresponding documentation before
September 30, 2000, it is necessary to request the Mayor and City Commission approve:
(a) Additional collateral described above,
(b) Execution of all authorizing documentation.
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T:\AGBNDA\2000\SEP2100\REGULAR\10Ill0AN.MEM
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
CITY OF MIAMI BEACH
OFFICE OF THE CITY MANAGER
TELEPHONE: (305) 673-7010
FAX: (305) 673-n82
September 21, 2000
Mr, JeffRuster, Deputy Assistant Secretary for Economic Development
Processing and Control Unit, Room 7251 ,
Office of Community Planning and Development
Department of Housing and Urban Development
451 Seventh Street, S.A.
Washington, DC 20410
Attention:
Mr, Tony Johnston, Director for Economic Development Initiatives
Mr. Hugh Allen, Assistant Director for Economic Development
Dear Sirs:
-'
Pursuant to our telephone conversation of September 20,2000, the purpose of this letter is to provide
supplemental information in connection with the Section 108 loan application submitted in August
1999 and the amended ED! application submitted in May 2000,
As referenced in the amended ED! application, the $4 million Section 108 loan will be utilized to
fund $1 million for the North Shore Youth Center and $3 million for public infrastructure
improvements in the North Beach target area - $1 million of which will be specifically used in the
streets adjacent to a developable City-owned site known as the "nnd Street Site", The $1 million
ED! grant will be utilized to defray debt service costs associated with the Section 1 08 Loan,
As requested, below please find additional information regarding 1) job creation, 2) collateral and
3) repayment term.
n Job Creation:
The $4 million Section 108 loan and the $1 million ED! Grant will achieve the National Objective
of benefitting low/moderate income persons by assisting businesses that create jobs and serve
low/moderate income residents and that provide an area benefit. The City is proposing to finish the
construction ofthe North Shore Youth Center and to perform streetscape improvements in residential
areas and adjacent to and in proximity to the 72nd Street Site, As a result of the aggregate
improvements, it is estimated that 485 new jobs will be directly created with an additional 655 new
jobs indirectly created, It is also projected that this project will lead to approximately $100 million
in additional investment in the area,
September 21, 2000
Mr, Hugh Allen
Page 2
The 485 new jobs are projected to be created at the "nnd Street project" in the Publix supermarket,
the movie theater complex and within the on-site retail and restaurant establishments, The 655
indirect jobs will be created in adjacent commercial corridors, in hotels, retail establishments and
other area businesses,
The proposed projects will meet the national objectives as required under 24 CFR 570,200 (a)(2),
In addition to the creation of jobs that beneiit low and moderate income persons, the projects include
streetscape improvements in a primarily residential area that will provide an area benefit, as defined,
The creation of jobs will be evidenced by:
(1) inclusion of a First Source hiring clause in the Development and Lease Agreement to be
negotiated with the selected Developer of the nnd Street Site and
(2) execution of a North Beach First Source Hiring Agreement by area merchants and
businesses, as reflected in Exhibit A. The City will partner with local Community Based
Organizations,. (CBO), North Beach Development Corporation (NBDC) and UNIDAD
Hispanic Community Center, to assure maximum participation by area businesses in the
North Beach First Source Hiring Program,
2) Collateral:
The City of Miami Beach has structured a guaranteed form of payment of the Section 108 loan over
a 10-year period, using a combination of CDBG entitlement funds, the ED! grant funds, and other
available City financial resources, amounting to approximately $425,000 annually,
Proposed Financing Structure/Repayment of Section 108 Loan:
Section 108 Loan: $4,000,000
ED! Grant Request: $1,000,000
Term: 10 years
Interest Rate: Based on 5,25%
Collateral: CDBG Entitlement Funds, Covenant on North Shore Park and Youth
Center and Pledge of Future North Beach Quality of Life Funds
Uses of Funds: $3,000,000 Streetscape Improvements
$1,000,000 North Shore Youth Center
$1,000,000 ED! utilized to fund $100,000 Annual Debt Service
Repayment Source: $425,000 Future Years' Annual CDBG Entitlement
Collateral, in addition to the CDBG entitlement funds, will be offered as follows:
. City Charter section 1,03 (b), prohibits, without electorate approval, any conveyance of any
City-owned park or recreational facility, The City, however, will explore any legally
permissible means by which an interest in the property can be pledged to HUD, (The Section
108 loan will provide $Imillion in funding for a $6.3 million estimated project cost as
described in the attached Exhibit B.)
September 21,2000
Mr. Hugh Allen
Page 3
described in the attached Exhibit B,)
. The City will pledge not to sell the North Shore Youth Center site, during the term of the
loan,
. The City will pledge to utilize the North Shore Youth Center site for youth programs, during
the term of the loan,
. The City will pledge future "North Beach - Quality of Life" funds as described in the
attached memorandum (Exhibit C'j, This pledge represents a City pledge of the Va portion
of the y, of the additional 1 % of Resort Tax on room revenues collected in Miami Beach,
3) Repayment Term:
As stated above, the City of Miami Beach has structured a guaranteed form of repayment of the
Section 108 loan over a 10-year period, The EDI grant will be utilized to defray debt service costs
annually, Due to the nature of improvements, it was determined that a ten-year amortization was
fiscally prudent in light of future potential physical and infrastructure needs of the area,
In the original Section 108 loan application submitted in August 1999, a repayment schedule was
provided as reflected in Exhibit D. At that time, a more favorable interest rate environment existed
and the City's 10 year repayment schedule was based upon a 5,25% interest rate, Based upon our
discussion yesterday, Exhibit E provides a 10 year repayment schedule based upon a 6% interest
rate,
In light of the changes in the interest rate environment, the City will amortize the loan based upon
the most favorable interest rate HUD can proffer, so as to maximize the City's investment in the
revitalization of the area,
I hope the information provided above adequately addresses the issues you raised, On September
27,2000, the Miami Beach Mayor and City Commission will be asked to approve the additional
pledges of collateral, and the execution of all authorizing documentation, and the immediate advance
requested of $1 million, As you have requested, we will subsequently seek an opinion from our City
Attorney regarding our compliance with all applicable local, state and federal laws.
Thank you again for your valuable assistance in finalizing the application process, If you have any
questions, I can be reached at (w) (305) 673-7010, (h) (305) 533-1199, (b) (305) 750-2042, (m) (305)
331-8758.
September 2 J, 2000
Mr. Hugh AI/en
Page 4
Again I look forward to meeting with you on Monday, September 25, 2000 at 1 :00 p,m in your
offices in Washington, D,C,
Sincerely,
Christina M, Cuervo
Assistant City Manager
CMC/rar
F:\CMGR\SALL\CHRISTIN\C4r.ED\I08EDf.ADD
c: Honorable Representative Carrie Meek
Honorable Mayor and City Commission
Jorge M, Gom:alez, City Manager
Mayra Diaz-Buttacavoli, Assistant City Manager
Kevin Smith, Director of Parks and Recreation
Kevin Crowder, Economic Development Division Director
Joanna Revelo, Community Development Division Director
Jack D, Johnson, CPD Director, Florida State Office
Marilyn Thompson, Jordan Burt
City of Miami Beach
North Beach First Source Hiring Agreement
/'...'"~
The City of Miami Beach has committed an additional $4 million in funding from the U, S, Department of
Housing and Urban Development for improvements in North Beach, including slreetscape enhancements
on Nonnandy Island and in the vicinity of the 72" Slreet municipal parking lot, in an effort to improve the
business climate in the area. As these improvements proceed, and economic activity increases, access to
available labor by the businesses and expanded employment opportunities for the area's residents are
essential. To this end, the City of Miami Beach has created the North Beach First Source Hiring Program in
partnership with the North Beach Development Corporation and UNlOAD.
The City requests your voluntary commitment 'to consider applicants from a specified pool of job seekers
before opening your search to the general public or other networks. This pool will include low and
moderate-income residents of the North Beach area. The North Beach Development Corporation and
UNlOAD will establish this pool and will also serve as the clearinghouse for job announcements and
applicants. The City requests that you commit to use this clearinghouse during the initialjob posting period
(between 5 and 7 days) before expanding your search to other networks,
.
The North Beach Development Corporation and UNlOAD will ensure that job announcements are
disseminated throughout the neighborhood as quickly as possible.
~"1i
.
The North Beach Development Corporation will be available to answer any questions you have about
this program.
.
UNIDAD will keep carefully detailed records on the qualifications and skills of community residents
that are looking for work, and will pay particular attention to matching workers with appropriate job
openings,
.
The City of Miami Beach, the North Beach Development Corporation, and Miami-Dade County will
work with your business to ensure that you are able to access all economic incentives that you are
qualified to receive for employing the neighborhood's low and moderate income residents.
Business Name:
Contact Person:
Address:
Telephone:
Fax:
E-mail:
As a North Beach business, I commit to make every possible effort to provide employment opportunities to
residents of North Beach through the North Beach First Source Hiring Program before expanding my
search outside the area.
Print Name
Signature
Date
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CITY OF MIAMI BEACH
Interoffice Memorandum
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To:
Christina M, Cuervo
Assistant City Manager
Date: September 21,2000
From:
Trish Walker, Finance Direk
QUALITY OF LIFE FUi \'0 ~ '\
Subject:
BackQround
An additional one percent Resort Tax on room rent was approved by referendum on November 3,
1992. In accordance with Section 2, of Ordinance No. 93-2829 (copy attached) the proceeds of this
additional one percent resort tax are to be used in accordance with the provisions of Chapter 67-930
(Section 6), of the Laws of Florida, as amended, (copy attached) and Section 43 Y2, of the City of
Miami Beach Charter as amended (which is attached as Exhibit B, of Resolution No, 92-20574),
Essentially the proceeds of this additional tax are to be used as follows:
~,
1- 50% for public incentives for the convention center headquarters hotel development and
upon retirement of all related debt to be used as in 2 below;
2- 50% for promotion of tourism related activities and facilities, and developing, improving and
maintaining tourism related public facilities,
The additional tax did not become effective until the City entered into an agreement with a developer
for a convention center headquarters hotel. The Loew's Agreement was finalized on September
20, 1996 and the tax became effective October 1, 1996,
The amount of this additional one percent resort tax earned during the fiscal years ended
September 30, 1997 through September 30, 1999 was $2,423,094, $2,616,806 and $3,387,845,
respectfully. The estimated amount to be collected for the fiscal year ended September 30, 2000
is $4,045,000, The attached schedule reflects the Revenue and allocatiQll of such in each fiscal
year. The proceeds of this additional 1 % tax have been used as follows. Fifty percent of the amount
earned has been used to pay a portion of the debt service on the RDA - City Center Bonds. The
remaining 50% is aliocated equally among North Beach, Middle Beach and South Beach in an
amount of which currently approximates $674,000 to each area.
Allowable Uses
Allowable uses for Quality of Life funds are spelled out in section 43 % of the charter as follows:
shall be used for the promotion of the tourist industry, which shall include, but not
be restricted to the following: Publicity, advertising, news bureau, promotional
events, convention bureau activities, capital improvements and the maintenance of
all physical assets in connection therewith; and for the payment of the reasonable
and necessary expenses of collecting, handling and processing of said tax,
We have pledged half of the one-third portion of this tax allocable to Middle Beach for the loan with
Colonial Bank for the 4151 Street Beautification project, so this use is consistent with previous uses
of these funds by the City,
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ORDDmIICJI HO.
93-2829
AJI ORDIIIllHCB 01' DB CITY CClIfIlJ:SSIDJI 01' 'l'IIB cur 01' HJ:1UII
BEACH, I'LOUDA, AKBIlDIHa !L'IIIl DUDInOH 01' "'1IIUIlIII1III'1'
RBIIDIIIIT" D IIIC'fJ:OH U -CI 01' !L'IIIl CODB 01' !L'IIIl CJ:n 01'
HIlUU BDCH 10 Cll!lJ'llJIK 10 !L'IIIl l'IlIl%OD. 8ft Ram D 'l'IIB
CIIAllIIR AIID D IBC':IDJI 41-47 01' !L'IIIl C1'If COOS, AIID
IHl'LIIIUl!ITIIl/J A BlU.LOT QU1l8IIOII l'AlIIID n !L'IIIl 'fin'" 011
HOV1IHIID 3, 1112; BY UIBIIIlIJIG OC':IDJl8 41-41 UIl 41-
18 (el (11 01' !L'IIIl CODB OJ' !L'IIIl = 01' KDIII IDCH 10
IROVlDS I'OR A 3' IlBIClR'1' IU OR IIIIft 01' llODHI AI AllY
BOlllL, NOIm., ROOllING BOUSI OR UU'fHBK'l.' BOU81 III HB
CIIY IN ACCORDAllCI WID IIBCnr. AC':I 01' !L'IIIl I'LllIUDA
LBOZSUlllIUIl IROVIDBD HA~ HO IORIZOJI 01' !L'IIIl 8B80R~ ~AlC
lIlIZCJI Z8 IN UCBSI 01' 2% SIIALL IB IRllVIDBD, ALLOCAIBD OR
APPROPRIA~lID I'OR !L'IIIl VISZ~OR JIIlD CO!lVIIII'1'IDJI AlITIIORn'Y;
PROVIDING I'OR RUBlILIR; nOVJ:DIIla I'OR IIIVBRUILIU; AIID
'ROVIDING FOR All Bn'BC':%V1I DA2/B.
III rr OIUlAIHBD IY THB CITY COHHJ:SSION OF TIlE CITY OF IlIAHI
~.,.
BEACH, FLORIDA:
.8Q'11%OH 1.
The detinition at "Permanent Resident" set forth in section
o
41-45 at the Code at the City of Hiami Illach is hereby amended to
read ae tallows:
Peraanent r_ident. Any person wha, 1ft P.....uwy 1, 1'"
.... ~he.....f~.... has resided in the city at Miaai Beach,
Florida, far lonaer than eleven consecutive months _
Is"gel!'.
SRC'rYDH 2.
Section 41-46 at the Code at the City at MilUli Beach 111 hereby
amended to read aa fallows:
G__."."", 1ft 'Ita .....Mi.t!~ liar .. n........., 19'8,
.Xhere is hereby levied and there ahall be paid a tax at
~ ~ percent on .the rent at every occupancy at a
room or roOlDs in any hotel, motel, roaming house or
apartment house in the city, and aHe a tax of two
Dercent upon the total sale. price of all ite.. of food,
beverage., alcoholic beverages, or wine sold at retail
for consaption on the preJllises of any restaurant aa
herein dsfined.
such tax ahall constitute a debt _ed by the
occupant or guest to the city which is extingubhed only
by payment to the operator or to the city. The occupant
or guest shall pay the tax to the operator ot the hotel,
.otel, rooming house, apartment houae or re.taurant at
the ti.e the rent or the salee price is paid. If the
rent is peid in instell.ente, e proportionate ehare of
the tax shall be paid with each installment. The unpaid
1
tax shall be due upon the occupant's ceasing to occupy
space in the hotel, 1I0tel, rooming house or apartment
hQUS8..
The tax due on . two Derc.nt transaction aalling for
the payment o~ .eft~ a~ ..1.8 price .t '.e. shsll be:
SALeg PRTCH
::AX
.fI:a $ .50 'to $ .99 .................1c
~ $1.00 ~Q $1.49 .................2c
~ $1.50 to $1.99 .................3c
~ $2.00 to $2.49 .................4c
~ $2.50 to $2.99..................Sc
egn ~.Il'. s~ sales in lIlIIounts of IIOre than thr.. dollars
two perc.nt shall b. charged upon each dollar of pric. "'
t'eft4i, plus the above br.ck.t charge. upon any fractional
part of a doll.r in excess of even dollars.
The ~ax due on II ~hree Dercen~ ~rBn.a~ian cal1ina far
the navment of rent shall be:
BEtI%
::AX
~,
fro. S .32 ~D S .S5 .................1c
fram S .6' ~o S ..99................. 20
from 51.00 ~o 51.32 .................30
from 51.33 ~D 51.65 ..................4c
~rDm 11.66 to Sl.99..................Se
On rents in IIlfIount:. of more than tva dollars 'three
Dercent shall be charaed qnon each dollar of rent. Dlus
the above bracket ahara.. UDon any fractional Dart of II
dollar in excess at even dollars.
- '. 0
i The Drace.ds at the tax shall be exaended in accordance
with the arovl.ions af Chanter 61-g]O. Laws af Florida.
~s ~mend.d. and Sect:ion 43 1/2 of the Chart:er of the City.
of Miami Beach. as amended.
e * *
8BC'1'l:OH 3.
Subsection 41-68 (81(11 of.tbe Cod. of the City of Kiami Beach
is hereby amended to read as follows:
(1) Subject to the limitations contained in
paragraph (3) below witb r..pect to the righta of
bondholders, 84waaftainl 8...~.~ 1988, f1f~y perc.qt of
the resort t.x moni.. collected by the city in e.ch month
8ft .~ a'..~ 98'a~aw 1188 from the first: ~ OAreant: leVY
shall be prorated, allocated and appropriated for the
authority and no Dortion o'f 'th. resort:. tax levv in Axe...
at the two Dare.hi: l.vv ahall be allocated. orarated Dr
aDorooriated for the authority. The resort tax receipts
allocated to the authority shall be distributed and paid
to the authority on or before the twentieth day of the
month 1....edi.t.ly following tbe month of collection
thereof in tb. following m.nner:
TWenty-five percent of the total collections for the
months of october, Hovlllllber, Dei:elllber, the raaaining
twenty-five perc.nt to be paid .s herein.fter set forthl
Forty perc.nt of the total collection. for the
mbnths of Janu.ry, February and K.rch, the raaaining ten
percent to be p.id ae hereinafter eet forthl
2
Fifty percent of the total collections in each of
the remaining monthe of the flecal year/
On or before Hay 31111: of each Iear the portion at
collections withheld and not paid dur ng the prior months
of October throuqh Harch shall be distributed and paid to
the authoritYI
On or before october 31st of each year any r_ining
funds dua to the authority frOm the prior fiscal year
shall be distributad and paid to the authority.
S2rl'1'YOH 4.
......LD ..
All Ordinances or parts of Ordinances in conflict herewith be
and the same are hereby repealed.
dZe1.'YOIf 5.
8BVBRARYLrl'Y ..
If any article, section, subsection, clause, phrase or portion
of this Ordinance is, for any reason,
held invalid or
unconstitutional by any court of COIIIPetent jurisdiction, euch
portion Shall be de..ad a separate, distinct and independent
__, provision, and euch holding ahall not affect the validity of the
remaining portions of thie Ordinance.
see-rYON c..
une-rrnl Da."...
This Ordinance shall beCOll8 etbctive ten days atter adoption,
, .
provided, however, that the ...nd..nts set forth in Sections 2 and
3 above shall not becOlIe ettective until the date on which the City
of Hi..i Beach entere into an egre_nt with a developer for
development of e convention center headquartere hotel.
PMSBD ad ADOftBD this 6th
, 1113.
AnBST:
<jZ>>..a..A [.. ~"...
CUY CLUJ:
PNB:lm
FORM AP~ROVED
~~
~ ~~3
c.\MdI......',...,.'....
Ie. reedinl 12/16/92
2nd .eadinl 1/6/93
3
OFFICE 01' TH. CITY AlTClRHaY
LAURaNce "INGOlD
en.6't't()Jlll"','W'
~ tf:1tiomi~azM
, LOR D A
(I
po. lOX 0
""''''If&CH, 'lDftrDA '>>11"_
TtllPt10tq '*J "1.1"lD
1Ulea.,. ta5llra.l'OlI2
COlOlf.no_ _IWIlIUIl 110. ~
_. D&C:alIID U. Ilia
'1'01 UllOll n1lllllllll ax.an.
IIllIlaIU OJ' aa am CllllIIU.toII &lID
llU1l _. lIOII.. II. __
-~.
L1UUl1C11 nUlQOloD
CUll _UU ,
.k L~ ~ 'v../
u. -......... 'l'O ....-u.... 41-41 &lID 41-" OJ' t'IIII IIDII% Ullllll
ax'l"l COD' 'l'O ~ aa aau.or QUUnoll QI' IIOVZIIBIIl Z.
21., ~ m nr--.. Dl t'IIII _ ax
. ,
on HovUlb.r 3, 1"2, tIl. Clty ot 1I1..1Iluch.'. el._rate appr.",""
the ballot qu..t:101l for. It increa.. 1ft the rooIl rent portlol1 of
~b. r....rt t.x, vbich 1ncr.... i. not .tf.cti... until ~. City
'IItU' into .n .gr....nt vi tb a develop.r t..r d.velopaent ot .
conv.ntion cant.r b.adquart.ra bot.l.
The ettacbad Ocdlnanca 1I&pl_ta tile ballot qu..t1on by. a.llllcl1l1CJ
_ B.ctl..... Cl-4f .nd 41-" at tIl. City COd'. .U..,tiv. at .ucb tl..
a. tb. City .nter. lnto an e9Z'._nt vl~ a d.v.lopu for
d.v.lopaant ..t . conventlon cant.r baadgaart.r. hot.l.
In addit101l, tbe e~echad ordlnanca provid.. for . t.chnical
...nd..nt to tIl. deflnition ot ""anent Iladd.nt in Bactlon 41-45
tor tIl. Clty Cod. to C01lfora to tIl. Cbartar and 8ectt01l 41-41 at
~_ city Cod..
~l'
Encl.
,
.
.
,
,
,
J
i
I
c.~.,.....
2:1
"
"(,,[I,~
Ill"
R-~-(' -
1-1_- ~3
gAl[
l'IIAf'TF.:R hl_!!::CI
LA m.; OF FLOnJDA
l
~uch t.'lxes imposed, Icvied and Cllllcded. in accordancc with I'.
thc :Jccountin~ and othcr pro\'h;ions of the enacted ordinance, i
Section 4. Anl' ordinance adopted undcr the provisions of I
this act shall exempt therefrom the persons and transactions
exempted from thc' p:lyment oi the tlIx imposed by section
212,0::. Florida St..'ltutes. and such ordinance may further pro-
vide for such other exemptions from the tax hereby authorized
as the governing legislative bodl' of the city or town shall
deem proper,
Section 5, Any ordinance adopted hereunder may provide
such penalties for the violation of such ordinance as the gov-
erning legislath'e bodl' of the city or town shall deem appr~
priate,
ection 6, Any funds received under and by virtue of the
municipal resort tax imposed or levied under the authority of
this act shall be used for the following purposes only: creating
and maintenance of convention and publicity bureaus, cultural
~, and art centers, enhancement of tourism, publicity and adver-
tising purposes, and for the future cost, purchase, building.
designing, engineering, planning, repalring, reconditioning, al-
tering, expanding, maintaining, senicing and otherwise op-
erating auditoriums, communit,}' houses, convention halls, con-
"ention buildings or structures, and other related purposes, in-
cluding relief from ad \'alorem ta.,es heretofore levied for such
purposes,
Section 7, The municipal resort tax imposed or lened un-
der the authorit,}' of this act shall be in addition to the state"
taX provided for by part I, chapter 212, Florida Statutes,
Section 8, The governing body of any city or town adopt-
ing any ordinance imposing the ta., herebl- authorized may
also, by ordinance create an authorit,}' or commission empowered
to contract and be contracted with in its own name as an
agenCl' of the cit,}' and to administer and e'-llend such portion
of the proceeds of said tax as the governing bodl' may deter-
mine, The membership, qualifications for membership. tenure,
and any other powers to be exercised by said authoritl- or com-
mission shall be prescribed by ordinance, Provided, howe\'er,
that no ordinance or measure abolishing any authority or com-
mission. as herein described, which mal' be created pursuant
654
}. ~
t
i
,
f
.
I
i
\
r
1
.
~,
PROPOSED CHARTER lUI!lHDMBM'l'
RE: SECTl:ON U.\: - orAX ON OCCUPANCY OF HO'l'l!LS
A. Proposed Ballot Question:
"SHALL SECTION 43~ OF TIlE Ml:AHJ: BEACH CITY CHARTER BE
AMENDED TO INCREASE, BY ONE PERCEM'l', THE RESORT TAX ON
ROOM RENT, TO BE USED FOR:
(A) 50t FOR pUBLIC INCENTIVES FOR cONVENTION
CENTER HEADQUARTERS HOTEL DEVELOPMENT, AND
UPON RETIREMENT OF 'ALL DEBT RELATED THERETO,
TO BE USED AS IN (B) BELOW;
(B) sot FOR PROMOTION OF
ACTIVITIES AND FACILITIES,
IMPROVING AND MAINTAINING
PUBLIC FACILITIES"
TOURISM RELATED
AND DEVELOPING,
TOURISM RELATED
YES
NO
B. Proposed orext:
Sec. 4J~. orax on occupancy of hotels, etc., and on certain
foods and beverages.
The City of Miami Beach is authorized and shall have the right
to impose, levy and collect a tax on the rent of every
occupancy of a room or rooms in any hotel, motel or apartment
house when the renting is. for a period of eleven consecutive
months or less; and upon the total sales .price .of all items of
food and alcoholic beverages sold at retail by any
establishment engaged in the sale of alcoholic beverages
and/or food for consumption on the premises; said tax to be
paid by the person paying the rent or paying for the food
and/or alcoholic beverage herein specified and to be collected
by the person renting said rooms or selling said food or
alcoholic beverage for the use and benefit of the city. Sales
or rentals exempted by chapter 212, Florida Statutes 1965,
shall also be exempt from the tax hereby authorized. That. the
total receipts from the above tax levy shall be kept and
maintained in a separate fund and shall in no event be
transferred to the general fund, and that the said fund shall
be used for the promotion of the tourist industry, which shall
include, but not be restricted to the following: Publicity,
advertising, news bureau, promotional events, convention
bureau activities, capital improvements and the maintenance of
all physical assets in connection therewith; and for the
payment of the reasonable and necessary expenses of
COllecting, hahdling and processing of said tax. That the
co_ission shall have the authority and power by ordinance to
determine and fix the amount of said tax after public hearing
1
EXHIBIT "B"
not in excess of two percent, excent that an additional tax of
one nercent (1%) may be imcosed, levied and collected on th~
rent of everv occunancv of a room or rOoms in anY hotel. mt,""' "1..
or anartment house when the rentina is for a neriod of el~ ~Q
consecutive months or less. Drovided that such additional one
Dercent shall be used. sub;ect to the riahts of bondholders.
tAl sot for nubIle incentives for convention center
headauarters hotel develocment. and uno" retirement of all
debt related thereto, to be used as in IS) below, and IS) 50%
for oromotion of tourism related activities and facilities,
and develocina. imnrovina and maintainina tourism related
nUblie' facilities: Drovided that such additional one cercent
(It) of tax shall not be imcosed until such time as the city
of Miami Beach has entered into an aareement with a develocer
for develoDment: of a convention center headauarters hotel: and
oravided further that: the authority created Dursuant to
Section 8 of Chanter 61-930 shall have no riaht to receive any
Dortion Of such additional ane Dereent (It} of tax.
--~
(C:\ rnOlution\2aec43.r..)
090192
SCHEDULE FOR REPAYMENT -- CITY OF MIAMI BEACH
SECTION 108 LOAN AMORTIZATION
Principal ... '.. . . .
Payment Interest Total Annual Payment Payment Date
1 $148,862.83 $120,000,00 $268,862,83 $537,725,66 3/1/01
2 $153,328,71 $115,534.12 $268,862,83 9/1/01
$157,928,58 . .
3 $110,934,25 $268,862,83.... $537,725;66 .... 3/l102
$162,666,43 $1 06, 196040 $268,862,83 9/1/02 .
4 .... . /
5 $167,546043 $101,316,40 $268,862,83 $537,725,66 3/1/03
6 $172,572.82 $96,290.D1 $268,862,83 9/1/03
$177,750,00 -c- .
7 $91,112,83 $268,862.83./ $537,725,66 3/1/04
~'"A
8 $183,08250 . $85,780,33 $268,862,83 9/l104 . .
9 $188,574,98 $80,287,85 $268,862,83 $537,725,66 3/1/05
10 $194,232,23 $74,630,60 $268,862,83 9/1/05
$20(),059.20 . $68,803,63. . . .. . 3/1I()6
11 .... $268,86.2,83 $537,72?,66 ....... >)
..
> $62,801.86 '.. $268,862,83 . ............... .. 9/1/06
12 $206;060,97 ..
13 $212,242,80 $56,620,03 $268,862,83 $537,725.66 3/1/07
14 $218,610,08 $50,252,75 $268,862,83 . 9/1107
.. $43,694A4 $268,862,83 . .... 3/1/08
15 $225,168,39 $537;725,66 .
. ....... > 9/1/08 .
16 . $231;923044 $36;939,39 $268,8g8~ .......
.. ....
17 $238,881.14 $29,981.69 $268,862,83 $537,725,66 3/1/09
18 $246,047,58 $22,815,25 $268,862,83 9/1/09
19 ... $253,429,00 $15,433,83 $268,862,83 .. $537,725,66 / 3/1110
. .....
. 9/l11O .
20 $261,0:U.89 $7,830,96 $268,862,83 ...> .. .. ... .' i
NOTES:
Loan Amount: 4,000,000
Opening Date: 10/1/00
Compounding Frequency: Semi-Annual
Interest Rate:
Payment Amount:
Payment Frequency:
6%
$268,862,83
Semi-Annual
,j
/
<
,
;
/
/
,
:/1
.I'section 108 Loan Amortization
City of Miami Beach
Urban Improvements for Economic Development
Section 108 Loan Guarantee Application
Payment Principal Interest Total Annual Payment Payment Date
1 $154,627,99 $105,000.00 $259,627.99 $519,255,98 3/1/00
2 $158,686.97 $100.941.02 $259,627.99 9/1100
3 $162,852.51 $96,775.48 $259,627,99 $519,255.98 3/1101
4 $167,127.39 $92,500.60 $259,627,99 911101
5 $171,514.48 $88,113.51 $259,627,99 $519,255,98 3/1/02
6 $176,016.74 $83,611.25 $259,627.99 9/1102
7 $180,637.17 $78,990.82 $259,627,99 $519,255.98 3/1/03
8 $185,378.90 $74,249.09 $259,627,99 9/1/03
9 $190,245.10 $69,382.89 $259,627.99 $519,255,98 3/1104
10 $195,239,03 $64,388.96 $259,627,99 9/1/04
11.., '. . $200,364,05 "1$59,263,94:.:. .... .$259;627;99..';!:" > $519 ;255:98 ;;:,:;;<h:~i>Wh't >'3lrt05fi:. .c......}.,
12 $205,623.61 $54,004.38 $259,627.99 9/1105
13 $211,02'r.23 $48,606,76 $259,627,99 $519,255.98 3/1/06
14 $216,560.54 $43,067.45 $259,627.99 9/1/06
15..... :.... $222,245,25> $37,382,74 . $259,627;99: .'..',.:". '$519,255,98 ,}' :3/1/07....... .........::
16 $228,079.19 $31,548.80 $259,627,99 9/1107
17 $234,066.27 $25,561. 72 $259,627.99 $519,255.98 3/1/08
18 $240,210.51 $19,417.48 $259,627,99 9/1108
'$246;516,03.. . :$ 13;11J,96 ::,Ut;'S259;627;99,.,,: :. S519,255;94@P'h%I1C ;S/I/09;{S,'.'
20 $252,987.04 S6,640.91 $259,627,95 9/1/09
NOTES:
4,000,000
10/1/99
Semi-Annual
Interest Rate: 5,25%
PllYment Amount: $259,627.99
Payment Frequency: Semi-Annual
Loan Amount:
Opening Date:
Compounding Frequency:
F:\DOHP\SALl.\L YSSETTE\I08LOANI.DOC
,eel CITY OF MIAMI BEACH
itle SECTION 108 lOAN
Bank No. Q702
ACCl No, 0360002260328
Tax ID NO,596000372
Phone No, (3051673-7039
Verification
No, Of Signatures Required
,peciallnstrt,Jctions
'~~z
Signature\sl
JOME M GONZALEZ
CHRISTINA CUERVO
PATRICIA D WALKER
GEORGINA P ECHERT
,)
Jate Openecl09J27/2000
late ReviseCl
Center 3600099
Reason
Officer No. 00566
By AURORA CHAVEZ
SunTrust Bank ("Bank1
. ,is agreed thaI all tran~ons between the Bank and the entiN listed in the above Account Title ("Depositor") shall be govemed by the rules and regulations for
liS account and the above signed lIS the authorized agent(s) o(the Depositor hereby acknowledge\s) fecelpt of such rules and regulations and the funds availability
'oliey. The Depositor also acknowledges the funds availability policy has been expllllned.
'ertiflcation ~ Under penaldes or perjury. l. ala. authorized alent orthe Depesltor, terrify dial:
) 596000372 ,is the correct taxpayer identification number for the OepcIsitor (or the DepositOf" is waiting for a nlUtlber In be issued). and
) The Depositor IS not subject to backup WIthholding either because: (a) the Depositor is exempt from backup withholding, 0' (h) the Depositor has nol been
ol1fied by the Internal ue ServIce (IRS) that it is subject to backup withholding as a result ofa failllreto report all interest or dIvidends, Of (c) the IRS has
otifiedtheDepositor at it sno longer subJect to oockup withholding.
.erdflcatlonlDI 'on..
) The Undersign u cross OUI ilem 2 above if the Undersigned has been notified by the IRS that it is currently subject to backupwithholdin@becauseof
n.derreponinJint iv.' dsonltstaxrerum,
) The undersl sh ld if the sitor is exempt from reponing per IRS guidelines.
Date
Ignarure
J0131 (211998)
vDAnfnrn"ni",,'innOmlllt
peciallnstructions
~""
I .,", No. 070Z
I Acct No. 0360002260328
I ~~~~~ ~g:~~~?:039 '
Verification
cet CITY Of MIAMI BEACH
itle SECTION 10B LOAN
No. Of Signatures Required
JORGE M GONZAlEZ
CHRiSTINA CUERVO
PATRIC1A D WALKER
GEORGINA P ECHEftT
,
i31te Opened09J27/2000
ate Revised
Center 3600099
Reason
Officer No. 00666
By AURORA CHAVEZ
SunTruat Bank ('Bank1
is agreed that all1ll11lsactiol:l5 between the Bank and the entity listed in !he above Account Title (~Oepo3itor'') shall be governed by the roles and regulations for
is account and the above signed as the authorized agent(s) oftbe Depositor hereby acknowledge(s) receipt of su~h roles and regu1atiOllll and the funds availability
,Iicy. The Depositor also adtnowledges the funds availability policy has been explained.
erdtkatiOD - Unde'l' penaldes or perjury, l. as aD .uthorlzed aaeat of the Depealtol', eerdfy thai:
,596000312 is the COrrecl talIpayer identification number for the DepositOf" (or the Depolitor is wajtins. for a number to be issued). and
, The Depositor is not subject to badrup withholding either because: (a) the Depositor is exempt from backup witltholding, Or (b) the Depositor has nOI been
,rifled by the Internal ReveDue Service (IRS) that it is subject to backup withholding as a result of a failure to report all interest Of" dividends, or (c) the IRS has
'tifiedtheDeoosilOrlhat ilisno longersubjec:t to bal:kup withholding.
~rtlnca1ioD iastrucdODs.
The Undmigned s cross Out item 2 above if the Undersigned has been norified by the IRS that it is cWTendy subject to backup withholding because of
Iderl"epo,r1.i.n5in =>;'ie:...":.;:;::; ~e:-...~.
Theundeni ere if 'to is exempt from reporting per IRS guidelines.
>,'nature
Date
'0131(211998)
SUNTRU8T
Specimen Signatures
Account Number
0360002260328
No. Of Signatures ReQuired
8ank Name SunTrost Bank
Acc()unt Title..
CITY OF MIAMI BeACH
SECTION 108 lOAN
Date Opened
Date Revised
0912712000
CITY OF MIAMI BEACH
Signature' /
Name
5;,,,,",,2 V J'o ~~~
JORGE M GONZALEZ
Name
Signature3/
CHRISTINA CUeRVO
Name
~,
5;''''''.~ ~ku-
5;,,,,,,.5 t1 (J ~
PATRICIA 0 WALKER
Name
GEORGINA P ECHERT
Name
Special Instructions
I agree that the signature{s] represent(s] the Depositor's authorized signers' specimen signaturels).
Signature Date
Specimen Signatures Page 1 of 1
600132 (2/1998)
SUNTRUST
Unincorporated Organization or Association
Certificate of Authority and Incumbency
(Deposit Accounts)
I, the undersigned hereby certify that 1 am the JORGE M GONZALEZ and custodian of the records of
CITY OF MIAMI BEACH SECTION lOB LOAN(hereinafter the "Organization"); that the following is a true and correct copy of certain
resolutions duly adopted by the Board of , the governing board of the Organization at a meeting duly held on the day of
. at which a quorum was present; and that the following resolutions are in conformity with the charter and
by-laws and have not since been rescinded or modified.
Deposits Accounts
Resolved, that SUNTRUST BANK MIAMI ("Bank'.) be designated a depository of this Organization; that anyone of the officers/persons listed in this
Resolution be and is hereby authorized to enter into on behalf of the Organization any of Bank's checking, savings, time deposit. night deposit. cash management and
corporate service agreements or other deposit account agreements: that the Organization shall be bound by both the terms and conditions of said agreements, as now
existing or as amended from time to time; designate additional signers, and said Bank is authorized to accept for deposit or collection. any cht."Ck, draft or other
instrument payable to the Organization, whether such check. draft or other instrument bears the endorsement of this Organization. or whether such endorsement, if
any, is stamped, written or otherwise affixed, and with or without designation of the person making such endorsement, it being understood that all prior endorsements
on such items are guaranteed by this Organization. regardless of the lack of an express guarantee in the endorsement of this Organization.
Further Resolved, that said Bank be and is hereby directed to honor, pay and charge to the accounts of this Organization. without inquiry as to the circumstances of
the issuance or application of the proceeds of checks. drafts, items or other written orders on any of this organization's accounts with Bank. whether or not payable to.
endorsed or negotiated by or for the credit of any person signing the same or any other officer/person of this Organization. when signed by any (number required)
of the following officers/persons of this Organization.
Officer Title (titles, not names) _,
CITY MANAGER
ASSISTANT CITY MANAGER
FIANANCE DIRECTOR
ASSISTANT FIANANCE DIRECTOR
Facsimile Signatures (Complete this section !!!I if facsimile signatures are to be used on items).
Further Resolved, that Bank is hereby requested. authorized and directed to honor any check, draft, item or other written order on any of this Organization's deposit
accounts with Bank when bearing or purporting to bear the following authorized machine or facsimile signature of any of the above officers/persons whose signatures
are reproduced below, regardless of by whom or by what means the actual or purported machine or facsimile signatures may have been affixed.
(NameofAudlorize<lSigner)
{Machine or Facsil:nile Signarure ofAudlorized Signer)
(Name of Audlorized Signer)
(Machine or Facsimile Signarure of Al1lhorized Signer)
Further Resolved, that the Organization shall indemnify and hold Bank harmless from any and all claims, expenses, losses, damages and costs (including attorneys'
fees) resulting from. or growing out of Bank's honoring the facsimile signature of any of the above officers/persons, its refusal to honor any facsimile signature of an
officer/person not listed above, or resulting from the unauthorized use of the instrument used to produce the facsimile signatures by persons other than authorized
officers/persons.
Additional Signer Designation
Further Resolved. that the custodian of the records of this Organization and any other authorized officer/person listed above may designate up to two additional
signers who are authorized only to sign checks, drafts. items or other written orders on any of the Organization's deposit accounts with Bank.
General
Further Resolved, that the custodian of the records of this Organization be and is authorized and directed to furnish said Bank a certified copy of these resolutions,
which resolutions shall continue in full force and effect until written notice of the rescission or modification of the same has been received by Bank, and Bank has
had a reasonable time to act on said change; and to furnish said Bank the names and specimen signatures of the person(s) named herein. and such persons from time
to time holding the positions named herein, on Bank's usual fonn of signature card or on a fonn acceptable to Bank.
Exemption
Further Resolved. that if the Organization has an interest bearing account., the Organization is
Unincorporated Organization or ASSOciation Certificate of Authority and Incumbency Page 1 of 3
600125 (2119gB)
I hereby certify that the following are the names and specimen signatures of the authorized person(s) listed in the foregoing resolutions and that each presently holds
the title or designation indicated and has full authority for all acts noted herein.
Officers
Name
I. JORGE M GONZALEZ
2. CHRISTINA M CUERVO
3. PATRICIA 0 WALKER
4. GEORGINA P ECHERT
5.
6.
7.
Officer Title
CITY MANAGER
ASSISTANT CITY MANAGER
FINANCE DIRECTOR
ASSISTANT FINANCE DIRECTOR
Additional Signers
8.
9.
10.
II.
12.
2.
Signature
1../
./
,/
SSN
Date of Birth
3.
,/
4.
5.
6.
7.
8,
9.
10.
II.
12.
IN WITNESS WHEREOF, I have hereunto subscnbed my name and affixed the seal of saId Organtzatton thIS a day of ~~t.l.k fl--
~ ~~~
seal/Title (!.I..-~ ~J.uk
Bank Use:Account Number 0360002260328
Officers and Authorized Signers verified by Center No. 3600099
Unincorporated Organizatlcm or Association Certificate of Authority and Incumbency Page 2 of 3
600125 (2fl998l
SUNTRUST
Unincorporated Organization or Association
Certificate of Authority and Incumbency
(Deposit Accounts)
I, the undersigned hereby certify that I am Ihe JORGE M GONZALEZ and custodian of the records of
CITY OF MIAMI BEACH SECTION 108 LOAN(hereinafter the "Organization"); that the following is a true and correct copy of certain
resolutions duly adopted by the Board of , the governing board of the Organization at a meeting duly held on the day of
. at which a quorum was present; and that the following resolutions are in confonnity with the charter and
by-laws and have not since been rescinded or modified.
Deposits Accounts
Resolved, that SUNTRUST BANK MIAMI ("Bank") be designated a depository of this Organization; that anyone of the officers/persons listed in this
Resolution be and is hereby authorized to enter into on behalf of the Organization any of Bank's checking, savings, time deposit, night deposit, cash management and
corporate service agreements or other deposit account agreements; that the Organization shall be bound by both the terms and conditions of said agreements, as now
existing or as amended from time to time; designate additional signers, and said Bank is authorized to accept for deposit or col1ection, any check, draft or other
instrument payable to the Organization. whether such check, draft or other instrument bears the endorsement of this Organization, or whether such endorsement, if
any, is stamped, written or otherwise affixed, and with or without designation of the person making such endorsement, it being understood that all prior endorsements
on such items are guaranteed by this Organization, regardless of the lack of an express guarantee in the endorsement of this Organization.
Further Resolved, that said Bank be and is hereby directed to honor, pay and charge to the accounts of this Organization, without inquiry as to the circumstances of
the issuance or application of the proceeds of checks, drafts, items or other written orders on any of this organization's accounts with Bank, whether or not payable to,
endorsed or negotiated by or for the credit of any person signing the same or any other officer/person of this Organization, when signed by any (number required)
of the following officers/persons of this Organization.
Officer Title (titles, not names) _":10
CITY MANAGER
ASSISTANT CITY MANAGER
FIANANCE DIRECTOR
ASSISTANT FIANANCE DIRECTOR
Facsimile Signatures (Complete this section ~ iffacsimile signatures are to be used on Items).
Further Resolved, that Bank is hereby requested, authorized and directed to honor any check, draft, item or other written order on any of this Organization's deposit
accounts with Bank when bearing or purporting to bear the following authorized machine or facsimile signature of any of the above officersJpersons whose signatures
are reproduced below, regardless of by whom or by what means the actual or purported machine or facsimile signatures may have been affixed.
(Name of Authorized Signer)
(Machine or Facsimile Signature of Authorized Signer)
f:-lame of Authorized Signer)
(Mac:hine or FlCSimileSignature of Autbol'ized Signer)
Further Resolved, that the Organization shall indemnify and hold Bank. harmless from any and all claims, expenses, losses, damages and costs (including attorneys'
fees) resulting from, or growing out of Bank's honoring the facsimile signature of any of the above officers/persons, its refusal to honor any facsimile signature of an
officer/person not listed above, or resulting from the unauthorized use of the instrument used to produce the facsimile signatures by persons other than authorized
officers/persons.
Additional Signer Designation
Further Resolved, that the custodian of the records of this Organization and any other authorized officer/person listed above may designate up to two additional
signers who are authorized only to sign checks, drafts, items or other written orders on any of the Organization's deposit accounts with Bank.
General
Further Resolved, that the custodian of the records of this Organization be and is authorized and directed to furnish said Bank a certified copy of these resolutions,
which resolutions shall continue in fun force and effect until written notice of the rescission or modification of the same has been received by Bank, and Bank has
had a reasonable time to act on said change; and to furnish said Bank: the names and specimen signatures of the person(s) named herein, and such persons from time
to time holding the positions named herein, on Bank's usual fonn of signature card or on a form acceptable to Bank.
Exemption
Further Resolved, that if the Organization has an interest bearing account, the Organization is
Unincorporated Organization or ASSOCiation Certificate of Authority and lncumbancy Page 1 of 3
600125 (2/1998)
I hereby certify that the following are the names and specimen signatures of the authorized person(s) listed in the foregoing resolutions and that each presently holds
the title or designation indicated and has full authority for all acts noted herein.
Officers
Name
I. JORGE M GONZALEZ
2. CHRISTINA M CUERVO
3. PATRICIA D WALKER
4. GEORGINA P ECHERT
5.
6.
7.
Officer Title
CITY MANAGER
ASSISTANT CITY MANAGER
FINANCE DIRECTOR
ASSISTANT FINANCE DIRECTOR
Additional Si.gners
8.
9.
10.
II.
12.
4.
v
SSN
Date of Birth
Sign~
I.
V
2.
V'
3.
5.
6.
7.
8.
9.
10.
11.
12.
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the seal of said Organization this
~
d- 1ft,. day of f:t.'1Jkw. ~ (:-11---,
Seal V
'cu~
C.i.&ttLlL
Bank Use:Account Number 0360002260328
Officers and Authorized Signers verified by Center No. 3600099
Unincorporated Organization or Association Certificate of Authority and Incumbency Page 2 of 3
600125 (2119981