HomeMy Public PortalAbout1995-03 Authorizing the issuance of not exceeding $7,200,000 of Stormwater Utility Revenue BondORDINANCE NO. 95-3
AN ORDINANCE OF THE VILLAGE OF KEY BISCAYNE,
FLORIDA AUTHORIZING THE ISSUANCE OF NOT
EXCEEDING $7,200,000.00 OF STORMWATER UTILITY
REVENUE BOND ANTICIPATION NOTES OF THE VILLAGE
OF KEY BISCAYNE, FLORIDA; PROVIDING FOR A
SUPPLEMENTAL RESOLUTION SETTING FORTH THE
DETAILS OF SAID NOTES; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the Village Council (the "Council") of the Village of
Key Biscayne, Florida (the "Village") desires to authorize the
issuance of not exceeding $7,200,000.00 Stormwater Utility Revenue
Bond Anticipation Notes (the "Notes") for the purpose of expanding
and improving the Stormwater Utility System within the Village, and
paying costs of issuance of the Notes; and
WHEREAS, the Council desires that the Notes be secured by a
covenant to budget and appropriate from legally available Non -Ad
Valorem revenues of the Village, as further specified by subsequent
resolution of the Council, and by Bonds of the Village to be issued
upon the maturity of the Notes; and
WHEREAS, it is the expressed commitment of the Council to
finance the entire financing cost of the Basins 1 - 8 project from
the proceeds of stormwater utility fees;
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 Stormwater
Utility Revenue Bond Anticipation Notes of the Village, in an
aggregate principal amount not to exceed $7,200,000.00 for the
purpose of expanding and improving the Stormwater Utility System
within the Village, and paying costs of issuance of the Notes. The
Notes shall be designated "Village of Key Biscayne, Florida
Stormwater Utility Revenue Bond Anticipation Notes", or such other
designation as may be approved by supplemental resolution, shall be
dated such date, shall be in such denominations, shall be stated to
mature in such year or years not later than three (3) years from
their date of issuance, shall bear interest from their dated date
at a rate or rates not exceeding the maximum rate permitted by law
at the time of issuance of the Notes, 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.
Section 2. The Village Manager is hereby authorized to
negotiate with banks or other financial institutions for the
purchase of the Notes and with respect to the terms of the Notes.
The Village Attorney, Bond Counsel and the Financial Advisor to the
Village are hereby authorized to draft documents and to do all other
things necessary to accomplish the issuance and sale of the Notes.
Section 3. This Ordinance will become effective immediately
upon adoption on second reading.
PASSED AND ADOPTED on first reading this 27th day of March,
1995.
PASSED AND ADOPTED on second reading this 28th day of March,
1995.
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ATTEST:
GUIDO H. INGUANZO, JR., VILLAGE CLERK
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
RI RD J. W SS, 1LLAGE ATTORNEY
OR JOHN F. FESTA
MIAMI DAILY BUSINESS REVIEW
Published Daily except Saturday, Sunday and
Legal Holidays
Miami, Dade County, Florida.
STATE OF FLORIDA
COUNTY OF DADE:
Before the undersigned authority personally appeared
Octelma V. Ferbeyre, who on oath says that she is the
Supervisor, Legal Notices of the Miami Daily Business
Review f/k/a Miami Review, a daily (except Saturday, Sunday
and Legal Holidays) newspaper, published at Miami in Dade
County, Florida; that the attached copy of advertisement,
being a Legal Advertisement of Notice in the matter of
PUBLIC NOTICE
VILLAGE OF KEY BISCAYNE
MEETING
MARCH 28, 1995
in the XXXXX
Court,
was published in said newspaper in the issues of
Mar 17, 1995
Affiant further says that the said Miami Daily Business
Review is a newspaper published at Miami in said Dade
County, Florida, and that the said newspaper has heretofore
been continuously published in said Dade County, Florida,
each day (except Saturday, Sunday and Legal Holidays) and
has been entered as second class mail matter at the post
office in Miami in said Dade County, Florida, for a period of
one year next preceding the first publication of the attached
copy of. advertisement; and affiant further says that she has
neither paid nor promised any person or corporation
any discou , rebate, commissi•�• fund •r the purpose
of secur g this advertise d or • ublic • ion in the said
news
Sworn to and subscribed before me this
17 March 95
day of , A.D. 19
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Octelma V. Ferbeyre personally known ip m
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OFFICIAL NOTARY SEAL
(3MERYL H MARMER
COMMISSION NO. CC191642
MY COMMISSION EXP. APR. 12,19%
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VILLAGE OF KEY BISCAYNE
PUBLIC NOTICE
Notice is hereby given that the following ordnance will be consid-
ered by the Key Biscayne Village Council at a;meeting to be held on
Tuesday, March 28, 1995, at 7:00 p.m., in the council Chamber, at 85 -
West McIntyre Street, Second Floor, Key Biscayne, Florida:
AN ORDINANCE OF THE VILLAGE OF KEY BISCAYNE,
FLORIDA AUTHORIZING THE ISSUANCE OF NOT
EXCEEDING $ OF STORMWATER UTILITY REVENUE
BOND ANTICIPATION NOTES. OF THE VILLAGE OF KEY
BISCAYNE, FLORIDA; PROVIDING FOR SUPPLEMENTAL
RESOLUTION SETTING FORTH THE DETAILS OF SAID
NOTES; AND PROVIDING FOR AN EFFECTIVE DATE.
Interested parties are invited to appear and be heard. Copies of the
proposed ordinance may be obtained at Village Hall, Office of the
Village Clerk, 85 West McIntyre Street. Key Biscayne, Florida 33149.
Should any person desire to appeal any decision of the Village
Council with respect to any matter to be considered at this meeting,
that person shall insure that a verbatim record of the proceedings is
made including all testimony and evidence upon which any appeal
may be based (F.S. 286.0105).
Guido H. Inguanzo, Jr., CMC
Village Clerk
3/17 95-4-0317245M