LTC 206-2019 Opportunity for Residents to Purchase G.O. Bonds MIAMI BEACH
OFFICE OF THE CITY MANAGER 206-2019
NO. LTC # LETTER TO COMMISSION
TO: Mayor Dan Gelber and Members of to City Com ssion
FROM: Jimmy L. Morales, City Manager �V
DATE: April 10, 2019 '
SUBJECT. Opportunity for Residents to Pura ase G.O. Bonds
The purpose of this LTC is to advise you of information being disseminated regarding the opportunity
for residents to purchase the City's G.O. Bonds.
The City of Miami Beach is announcing a $152,075,000 General Obligation Bond offering. The
planned sale is to offer bonds to investors during an order period on the morning of Tuesday, April 16,
2019. Investors will have the opportunity to purchase the City of Miami Beach General Obligation
bonds in minimum denominations of $5,000 on that date.
By investing in these tax free bonds investors help to finance roads, public safety enhancements,
recreational facilities, and other important infrastructure projects which will help meet the current and
future needs for the City of Miami Beach.
Bonds cannot be purchased directly from the City of Miami Beach. For more information about these
bonds, including a copy of the Preliminary Official Statement, investors can call any of the firms
below. Orders may be placed through these financial services firms working with the City of Miami
Beach.
J.P. Morgan 1-855-231-8873
Bank of America Merrill Lynch 1-305-577-6900
Jefferies 1-800-567-8567
PNC Capital Markets LLC 1-800-624-6450
On the next page you will find a flyer with additional information. This information has also been
made available on the www.GOMB2018.com website. If you have any questions, please contact
John Woodruff, Chief Financial Officer.
Attachments
Flyer
JLM/JW
4/6 ♦1 1�
G.0 ler
MIAMIBEACH
YOUR VOICE, IN ACTION!
Miami Beach G . O . Bonds :
Invest in our Future
Investors will have the opportunity to purchase the City of Miami Beach General
Obligation bonds in minimum denominations of $5,000 on April 16, 2019'. By
purchasing the City's General Obligation Bonds, you are joining a growing group of
residents committed to investing in the future of the City of Miami Beach.
The City of Miami Beach is announcing a $152,075,000' General Obligation Bond
offering. The planned sale is to offer bonds to investors during an order period on
the morning of Tuesday, April 16, 2019. '
By investing in these tax free2 bonds you are helping to finance roads, public safety
enhancements, recreational facilities, and other important infrastructure projects
which will help meet our current and future needs for the City of Miami Beach.
Bond specifics:
➢ $152,075,0001 City of Miami Beach, Florida General Obligation and Refunding
Bonds, Series 2019
➢ Backed by the full faith and credit of the City of Miami Beach
➢ Ratings from Moody's and S&P are Aa2 and AA+, respectively
➢ Exempt from federal income taxes 2
➢ Available in minimum denominations of $5,000
Invest in the future of the City of Miami Beach today with tax free bonds2.
Interest on the Series 2019 Bonds is excluded from gross income for federal
income tax purposes and is not an item of tax preference for purposes of the
federal alternative minimum tax. 2
Bonds cannot be purchased directly from the City of Miami Beach. For more
information about these bonds, including a copy of the Preliminary Official
Statement, please call any of the firms below. Orders may be placed through these
financial services firms working with the City of Miami Beach.
J.P. Morgan 1-855-231-8873
BofA Merrill Lynch 1-305-577-6900
Jefferies 1-800-567-8567
PNC Capital Markets LLC 1-800-624-6450
Preliminary,subject to change and availability.
Before purchasing bonds,you should consult with your tax advisor concerning your particular tax situation.
This announcement is not intended to be nor does it constitute an offer to sell or a solicitation of an offer to buy securities
or effect a sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such jurisdiction. The securities herein are preliminarily
described in the Preliminary Official Statement, a copy of which may be obtained from the underwriters listed above.
Bonds may only be purchased through a broker and any offer or solicitations with respect to the bonds will be made
solely by means of a Final Official Statement that describes the actual terms of such bonds. Transactions involving the
bonds may not be suitable for all investors. You should consult with your advisors as to the suitability of the bonds for your
particular circumstances.