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HomeMy Public PortalAbout2005-10 Authorizing the Issuance of not exceeding $3,500,000 of Transportation Tax Revenue BondsORDINANCE NO. 2005-10 AN ORDINANCE OF THE VILLAGE OF KEY BISCAYNE, FLORIDA AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $3,500,000 OF TRANSPORTATION TAX 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 $3,500,000 of bonds for the purpose of financing a portion of the costs of road improvements within the Village (Crandon Boulevard Improvements --Phase II), 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 primarily by the revenue received by the Village from the Charter County Transit System Surtax authorized by Section 212.055(1), Florida Statutes, and secondarily 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 Transportation Tax Revenue Bonds (the "Bonds") of the Village, in an aggregate principal amount not to exceed $3,500,000, in one or more series, for the purpose of financing a portion of the costs of road improvements within the Village (Crandon Boulevard Improvements --Phase II), financing architectural, engineering, environmental, legal and other planning costs related thereto, and paying costs of issuance of the Bonds. The Bonds shall be designated "Village of Key Biscayne, Florida Transportation Tax 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-one (21) 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. The supplemental resolution may be adopted, and the Bonds may be issued, at any time after the effective date of this Ordinance. {M1350657_2} Section 2. The Village Manager and the Village Finance Director are each hereby authorized to negotiate with banks or other financial institutions for the purchase of the Bonds and with respect to the terms 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 the Bonds. Section 3. This Ordinance will become effective immediately upon adoption on second reading. PASSED AND ADOPTED on first reading this 24th day of May , 2005. PASSED AND ADOPTED on second reading this 14th day of June , 2005. 4,06(244,4 LL_. MAYOR ROBERT OLDAKOWSKI CONCHITA H. ALVAREZ, CMC, VILLAGE CLERK APPROVED AS TO FORM AND LEGAL SUFFICIE ii ith/1/\ VILLAGE ATTORNEY {M1350657_2} n 2 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 O.V. FERBEYRE, who on oath says that he or 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 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 6/14/2005 in the XXXX Court, was published in said newspaper in the issues of 06/02/2005 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 securing i s advertii em.i pr publication in the said newspape, Sworn to and subscribed before me this 02 day of JUNE , A.D. 2005 (SEAL) O.V. FERBEYRE personally known too Cheryl H Marmer • • My Commission DD338559 /'eta Expires July 18, 2008 VILLAGE OF KEY BISCAYNE OFIFIC! OF THE VILLAIN! CLERK " PUBLIC NOTICE Notice is hereby given that the following ordinance will be considered ocilSecondfleadina by the Village Council of the Village of Key Biscayne 'at a meeting to be heron Tuesday, June 14, 2005 at 7:00 p.m., in the Council Chamber,' located at 560 Crandon Boulevard, Key Biscayne, Florida: AN ORDINANCISCF s y . 'THE VILLAGE OF KEY BISCAYNE, FLORIDA AUTHORIZM THE ISSUANCE OF NOT EXCEED- ING I35 OF•t'TRANSPORTAT1ION TAX R EYEMUE BONDS OP THE VILLAGE OF KEY BISCAM FLQIUDA; PROVIDING ` OR A SUPPLEMENTAL RESOUJTION SET- TING ,FORTH THE arms OF SAID BONDS; ANDPROVID- ING AN EFFECTIVE DATE. The proposed Ordinance may be inspected by the pubes at the Office of the Village Clerk. Interested parties may appear at the Public Hearingend be heard with respect to the proposed Ordinance. Any person wiat ingto address the Village Council on any item at this Public Keating is askcid to register with the Vf fage Clerk prforto that item being heard; In accordant with the Americans With Disabilities Act of 1990, all per- sons who are d ted and who need special acconanto iortsto partici- pate in this proceedlrig because of that disability shpld ©cwt the ()Ike of the Village Cleric; '88 West McIntyre Street Suite (erBISaaff• Florida 33149, telephone number (305) 365-5506; not lam than twobusi- ness days prior to such, proceeding. Should any person desire to appeal any decision Of/he Village Council with respect to any matter to be considered at this &meting, 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). 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 05-4-40/553130M 6/2