HomeMy Public PortalAboutTAB 01.pdfVILLAGE OF KEY BISCAYNE
Office of the Village Clerk
Village Council
Franklin H. Caplan, Mayor
Michael E. Kelly, Vice Mayor
Michael W. Davey
Enrique Garcia
Robert Gusman
Mayra P. Lindsay
James S. Taintor
Village Clerk
Conchita H. Alvarez, MLVIC
CERTIFICATION
STATE OF FLORIDA
COUNTY OF MIAMI-DADE
I, Conchita H. Alvarez, duly appointed Village Clerk of the Village of Key Biscayne, Florida, do
hereby certify that the attached is a true and correct copy of:
Ordinance No. 2012-7 adopted by the Village Council on July 10th, 2012.
IN WITNESS WHEREOF, I hereunto set my hand and affix the Seal of the Village of Key Biscayne,
Florida, this 24th day of October, 2012.
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onchita H. Alvarez, MMC
Village Clerk
Village of Key Biscayne, Florida
88 West McIntyre Street • Suite 220 • Key Biscayne, Florida 33149 • (305) 365-5506 • Fax (305) 365-8914
MISSION STATEN [ENT "TO PROVIDE A SAFE, QUALITY COMMUNITY ENVIRONMENT POR ALI.ISLANDERS THROUGH RESPONSIBLE GOVERNMENT."
www.keybiscayne.fl.gov
ORDINANCE NO. 2012-7
AN ORDINANCE OF THE VILLAGE OF KEY BISCAYNE,
FLORIDA AUTHORIZING THE ISSUANCE OF NOT
EXCEEDING $23,000,000 OF SCHOOL IMPROVEMENT
REVENUE BONDS OF THE VILLAGE OF KEY BISCAYNE,
FLORIDA FOR THE PURPOSE OF PROVIDING A PORTION
OF THE FINANCING OF A PERMANENT SECONDARY
EDUCATIONAL FACILITY AND RECREATIONAL FIELDS
LOCATED AT THE MAST ACADEMY CAMPUS AS WELL
AS NECESSARY RENOVATIONS OF THE KEY BISCAYNE
K-8 CENTER; PROVIDING FOR SUPPLEMENTAL
RESOLUTIONS SETTING FORTH THE DETAILS OF SAID
BONDS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Village Council (the "Council") of the Village of Key Biscayne, Florida
(the "Village") intends to enter into one or more agreements with the School Board of Miami -Dade
County, Florida to provide a portion of the financing of a permanent secondary educational facility
and recreational fields for Village residents located at the MAST Academy Campus as well as
necessary renovations of the Key Biscayne K-8 Center (the "Project"); and
WHEREAS, the Council desires to authorize the issuance of not exceeding $23,000,000 of
bonds for the purpose of financing a portion of the costs of the Project, financing architectural,
engineering, environmental, legal and other planning costs related thereto, and paying costs of
issuance of the bonds; and
WHEREAS, the Council desires that the bonds be secured by a covenant to budget and
appropriate Non -Ad Valorem Revenues of the Village, all as further specified by subsequent
resolution(s) of the Council.
NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF KEY BISCAYNE, FLORIDA, AS FOLLOWS:
Section 1. In accordance with the provisions of the Charter of the Village of Key
Biscayne, Florida and Chapter 166, Florida Statutes, there are hereby authorized to be issued School
Improvement Revenue Bonds (the "Bonds") of the Village, in an aggregate principal amount not
to exceed $23,000,000, in one or more series, for the purpose of financing a portion of the costs of
the Project, financing architectural, engineering, environmental, legal and other planning costs
related thereto, and paying costs of issuance of the Bonds. Each series of Bonds shall be designated
"Village of Key Biscayne, Florida School Improvement Revenue Bonds, Series 20_", or such other
designation as may be approved by supplemental resolution, shall be dated such dates, shall be in
such denominations, shall be stated to mature no later than thirty-one (31) years from their
respective dates of issuance, and shall bear interest from their dated dates at a rate or rates not
exceeding the maximum rate permitted by law at the time of issuance of the particular series of
Bonds, shall be subject to redemption at the option of the Village at such times and prices, and shall
have such other details, all as shall hereafter be determined by the Council by supplemental
resolution(s). The supplemental resolution(s) may be adopted, and the Bonds may be issued, at any
time after the effective date of this Ordinance.
Section 2. The Village Manager, the Village Finance Director, the Village Attorney, Bond
Counsel to the Village and the Financial Advisor for the Village are each hereby authorized to
negotiate with banks, investment banks or other financial institutions for the purchase or
underwriting of each series of the Bonds and with respect to the terms of each series of the Bonds.
The Village Attorney and Bond Counsel to the Village are hereby authorized to draft documents and
to do all other things necessary to accomplish the issuance and sale of each series of the Bonds.
Section 3. This Ordinance will become effective immediately upon adoption on second
reading.
PASSED AND ADOPTED on first reading this 3rd day of July, 2012.
PASSED AND ADOPTED on second reading this 10th day July, 2012.
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MA OR FRANKLIN CAPL
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IITA H. ALVAREZ, MMC, VILLAGE CLERK
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
VILLAGE ATTO EY
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