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Home My Public Portal About2002-11 Authorizing the Issuance of not Exceeding $9,987,551 of Capital Improvement Revenue BondsORDINANCE NO. 2002-11 AN ORDINANCE OF THE VILLAGE OF KEY BISCAYNE, FLORIDA AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $ 9,987,551 OF CAPITAL IMPROVEMENT REVENUE BONDS OF THE VILLAGE OF KEY BISCAYNE, FLORIDA; PROVIDING FOR A SUPPLEMENTAL RESOLUTION 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") desires to authorize the issuance of not exceeding $ 9,987,551 Capital Improvement Revenue Bonds (the "Bonds") or bond anticipation notes (the "Notes") for the purpose of financing a portion of the costs of construction and equipping of a community center, including a parking garage and swimming pool, financing architectural, engineering, environmental, legal and other planning costs related thereto, and paying costs of issuance of the Bonds or Notes; and WHEREAS, the Council desires that the Bonds or Notes be secured by legally available non - ad valorem revenues of the Village, as further specified by subsequent resolution 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 Capital Improvement Revenue Bonds (or Bond Anticipation Notes) of the Village, in an aggregate principal amount not to exceed $ 9,987,551, in one or more series, for the purpose of financing a portion of the costs of construction and equipping of a community center, including a parking garage and swimming pool, financing architectural, engineering, environmental and other planning costs related thereto, and paying costs of issuance of the Bonds or Notes. If Bonds are issued they shall be designated "Village of Key Biscayne, Florida Capital Improvement Revenue Bonds" (with appropriate series designation), 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 twenty (20) 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 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. If Notes are issued, they shall be designated "Village of Key Biscayne, Florida Capital Improvement Revenue Bond Anticipation Notes"(with appropriate series designation), 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 (not including any renewals or extensions of the Notes), shall bear interest from their dated date at a rate or rates not exceeding the maximum rate permitted by law at the time of J DC/013524.0006/M 1057226_ 1 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. The supplemental resolution may be adopted, and the Bonds or Notes may be issued, at any time after the effective date of this Ordinance. Section 2. The V illage Manager and the Finance Director are hereby authorized to negotiate with banks or other financial institutions for the purchase of the Bonds or Notes and with respect to the terms of the Bonds or 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 Bonds or Notes. Section 3. This Ordinance will become effective immediately upon adoption on second reading. PASSED AND ADOPTED on first reading this 8th day of October, 2002. PASSED AND ADOPTED on second reading this 22nd day of October, 2002. AT dioter HITA H. ALVAREZ, CMC, VILLAGE CLE APPROVED AS T f ORM AND LEGAL SUFFICIE RICHARD J Y E. S, VILLAGE ATTORNEY J DC/0l 3524.0006/M 1057226 1 2 MAYOR JOE I. RASCO MIAMI DAILY BUSINESS REVIEW Published Daily except Saturday, Sunday and Legal Holidays Miami, Miami -Dade County, Florida STATE OF FLORIDA COUNTY OF MIAMI-DADE: Before the undersigned authority personally appeared OCTELMA V. FERBEYRE, who on oath says that he or she is the SUPERVISOR, Legal Notices of the Miami Ds!iy Business Review f/k/a Miami Review, a daily (except Saturday, Sunday and Legal Holidays) newspaper, published at Miami in Miami -Dade County, Florida; that the attached copy of advertisement, being a Legal Advertisement of Notice in the matter of VILLAGE OF KEY BISCAYNE - MEETING 10/22/02 - ORD. AUTHORIZING ISSUANCE OF NOT EXCEEDING $9,987,551 ETC. in the XXXX Court, was published in said newspaper in the issues of 10/11/2002 Affiant further says that the said Miami Daily Business Review is a newspaper published at Miami in said Miami -Dade County, Florida and that the said newspaper has heretofore been continuously published in said Miami -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 Miami -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 he or she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securinaAf is advertisement for tion in the said newspa rri t. and subscribe (SEAL) OCTELMA V. FERBE personally known to me efore me this VILLAGE OF KEY BISCAYNE OFFICE OF THE VILLAGE CLERK PUBLIC NOTICE Notice is hereby given that the following ordinances will be considered on Second Reading by the Village Council of the Village of Key Biscayne at a meeting to be held on Tuesday, October 22, 2002 at 7:00 p.m., in the Council Chamber, located at 560 Crandon Boulevard, Key Biscayne, Florida: AN ORDINANCE OF THE VILLAGE OF KEY BISCAYNE, FLORIDA AUTHORIZING THE ISSUANCE OF NOT EXCEED- ING $9,987,551 OF CAPITAL IMPROVEMENT REVENUE BONDS OF THE VILLAGE OF KEY BISCAYNE, FLORIDA; PROVIDING FOR A SUPPLEMENTAL RESOLUTION SET- TING FORTH THE DETAILS OF SAID BONDS; AND PROVID- ING AN EFFECTIVE DATE. A CAPITAL PROJECT AUTHORIZING ORDINANCE OF THE VILLAGE OF KEY BISCAYNE, FLORIDA (THE "VILLAGE"), CONCERNING THE VILLAGE COMMUNITY CENTER; AU- THORIZING AND PROVIDING FOR THE VILLAGE TO CON- STRUCT AND EQUIP A COMMUNITY CENTER FOR THE VIL- LAGE; AUTHORIZING EXPENDITURE OF FUNDS; PROVID- ING FOR NOTICE OF ORDINANCE ADOPTION; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE. The proposed Ordinances may be inspected by athe the public Patithe Offc ice of the Village Clerk. Interested parties may appear at and be heard with respect to the proposed Ordinances. Any person wish- ing to address the Village Council on any item at this Public Hearing is asked to register with the Village Clerk prior to that item being heard. In accordance with the Americans With Disabilities Act of 1990, all per- sons who are disabled and who need special accommodations to partici- pate in this proceeding because of that disability should contact the Office of the Village Clerk, 91 West McIntyre Street, Suite 203, Key Biscayne, Florida 33149, telephone number (305) 365-5506, not later than two busi- ness days prior to such proceeding. 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 inclubasedding Sl testimony and evidence upon which any app l may be 286.0105). Comments of any interested party relative to this matter may be submit- ted in writing and or presented in person at the public hearing. Conchita H. Alvarez, CMC Village Clerk 02-4-49/305008M 10/11