2000-064 RESOLUTION NO. 2000-64
~D RESOLUTION OF THE CITY COMMISSION OF THE CITY
F AVENTURA APPROVING THE FORM AND
~,UTHORIZING THE DISTRIBUTION OF A REQUEST FOR
PROPOSALS TO FINANCIAL INSTITUTIONS TO PROVIDE
FINANCING TO THE CITY OF AVENTURA, FLORIDA TO
FUND THE COSTS OF VARIOUS CAPITAL ACQUISITIONS
~,ND IMPROVEMENTS RELATING TO PARKS,
F~ECREATION AND COMMUNITY CENTERS WITHIN THE
,~ITY; DELEGATING AUTHORITY TO THE CITY MANAGER
FO REVIEW ALL PROPOSALS AND MAKE
F~ECOMMENDATION TO THE COMMISSION; AND
PROVIDING AN EFFECTIVE DATE.
BE IT I~ESOLVED BY THE CITY COMMISSION OF THE CITY OF AVENTURA,
FLORIDA:
SECTI 3N 1. AUTHORITY FOR THIS RESOLUTION. 'f'his Resolution is adopted
pursuant to th ~ provisions of Chapter 166, Florida Statutes, and other applicable provisions
of law.
SECTI ::)N 2. FINDINGS. It is ascertained, determined and declared:
(A) l-hat there is presently a need to acquire, construct and equip certain capital
improvemenb~ within the City, as generally described in Exhibit A, as the same may be
modified frorr ime to time (the "Project").
(B) he most efficient and cost-effective method of financing the acquisition and
construction c f the Project is by the issuance of bonds, notes, certificates or other evidence
of indebtedn~ ss issued by the City (the "Obligations").
(C) That the City intends to issue a Request for Proposals to financial institutions
to provide fin~ ncing to the City in order to finance, refinance or reimburse the costs of the
Project.
(D) ]-he Request for Proposals to be issued by the City shall be substantially in
the form atta( hed as Exhibit B.
SECTI :::)N :3. DEFINITIONS. Capitalized terms shall have the meanings ascribed to
them unless ~e context clearly indicates otherwise.
SECT :)N 4. APPROVAL OF REQUEST FOR PROPOSALS. The City approves
the Request For Proposals in substantially the form attached as Exhibit B, with such
changes, mo Jifications and insertions as the City Manager may determine. The City
Resolution N( 2000-64
Page 2
Manager and le City's Financial Advisor, Dain Rauscher, Inc., are directed to take such
action as is n~ cessary to distribute the Request for Proposal to eligible financial institutions
as determine~ by the City Manager and the Financial Advisor.
SECTI )N 5. CONDITIONS TO ACCEPTANCE OF PROPOSAL. The City
Manager, on )ehalf of the City and only in accordance with the terms of this Resolution
and the Requ~ .~st for Proposals, shall determine the proposal that is, in his opinion, with the
assistance of the City's Financial Advisor, in the best interest of the City considering the
interest rate, l ~rm, costs and expenses, covenants, prepayment features and other terms
contained the"ein, which such proposal must comply in all respects with the Request for
Proposals. ]'he City Manager's recommendation shall be presented to the City
Commission 3r approval at a subsequent City Commission Meeting.
Notwit ~standing the foregoing, the form, terms and details of the Obligations and the
winning propcsal shall be approved by subsequent resolution of the City Commission.
SECTI 3N 6. GENERAL AUTHORIZATION. The Mayor, the City Manager, the City
Clerk, Financ,.~ Support Services Director and other employees or agents of the City are
authorized to execute and deliver such documents, instruments and contracts, and are
authorized a~d directed to do all acts and things required by this Resolution as may be
necessary to~'.ffectuate the purpose and intent of this Resolution.
SECTI~)N 7. REPEAL OF INCONSISTENT DOCUMENTS. All ordinances,
resolutions or parts of each in conflict with this Resolution are superseded and repealed to
the extent of .,~uch conflict.
SECTI ~)N 8. EFFECTIVE DATE. This Resolution shall take effect immediately
upon its ado :ion.
The for, ]oing resolution was offered by Commissioner Beskin, who moved its
adoption, he motion was seconded by Commissioner Cohen, and upon being put to
a vote, the ote was as follows:
Commissioner Arthur Berger yes
Commissioner Jay R. Beskin yes
Commissioner Ken Cohen yes
Commissioner Harry Holzberg yes
Commissioner Jeffrey M. Perlow yes
Commissioner Patricia Rogers-Libert absent
Mayor Arthur I. Snyder yes
Resolution 3. 2000-64
Page 3
PAS'~ "D AND ADOPTED this 3~ day °f Oct°l:~er~' ~'~ '~ ~~/~'~(~:/~:~i
ARTHUR I. SNY -_-R,~MAYOR
ATTEST: ~
Cl~ CLERK ;
APPROVED ~S TO FORM AND
LEGAL SUF~ IClENCY:
CITY A~TOR ~EY
EXHIBIT A
DESCRIPTION OF THE PROJECT
Complete descriptions of the Project are set forth in the plans, specifications and
records of th~ City. A general description of the Project is as follows:
A. .and. The purchase of real property within the City to be used
for municipal purposes including parks, recreational or
community centers.
B. Buildin,qs and Other Improvements. The acquisition,
construction, equipping and installation of improvements on or
to the real property described above or other City owned
property for parks, recreational or community centers.
EXHIBIT B
FORM OF REQUEST FOR PROPOSALS