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HomeMy WebLinkAbout2010-119-1301 - Bond Reimbursement Resolution City of Miami Gardens Agenda Cover Memo Council Meeting Date: June 24, 2010 Item Type: (Enter X in box) Resolution Ordinance Other x Fiscal Impact: (Enter X in box) Yes No Ordinance Reading: (Enter X in box) 1st Reading 2nd Reading xx Public Hearing: (Enter X in box) Yes No Yes No Funding Source: n/a Advertising Requirement: (Enter X in box) Yes No x Contract/P.O. Required: (Enter X in box) Yes No RFP/RFQ/Bid #: N/A X Sponsor Name Danny Crew, City Manager Department: City Manager Short Title: A RESOLUTION OF THE CITY OF MIAMI GARDENS, FLORIDA DECLARING THE CITY’S OFFICIAL INTENT TO REIMBURSE ITSELF FROM THE PROCEEDS OF TAX-EXEMPT OBLIGATIONS AND/OR TAXABLE OBLIGATIONS FOR CERTAIN CAPITAL EXPENDITURES MADE AND TO BE MADE BY THE CITY WITH RESPECT TO THE ACQUISITION AND IMPROVEMENT OF LAND AND THE ACQUISITION, CONSTRUCTION, IMPROVEMENT AND EQUIPPING OF A NEW TOWN CENTER FACILITY THEREON CONTAINING A CITY HALL, POLICE STATION AND PARKING GARAGE; AUTHORIZING CERTAIN INCIDENTAL ACTIONS; AND PROVIDING FOR AN EFFECTIVE DATE. Staff Summary: The attached Resolution is required by the Internal Revenue Service in order for the City to reimburse the appropriate City Fund for any expenditure made after the adoption of this resolution but before a bond is issued. This resolution is valid for eighteen months and constitutes no obligation on behalf of the City. This is the fourth of these we have executed since we became a City. This one replaces one earlier last year now that we have more specifics on the City Hall financing. ITEM J-8) CONSENT AGENDA RESOLUTION Bond Reimbursement Resolution 1515 NW 167 Street, Building 5 Suite 200 Miami Gardens, Florida 33169 Proposed Action It is recommended that the City Council adopt the bond reimbursement resolution. Attachment: None