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Home My Public Portal About2007-08 Authorizing the issuance of not exceeding $2,800,000 of Land Acquisition Revenue BondsORDINANCE NO. 2007-8 AN ORDINANCE OF THE VILLAGE OF KEY BISCAYNE, FLORIDA AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $2,800,000 OF LAND ACQUISITION 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 $2,800,000 of bonds for the purpose of financing a portion of the costs of acquiring land located at the northeast corner of West Enid Drive and Fernwood Road for Village purposes, financing legal costs related thereto, and paying costs of issuance of the bonds; and WHEREAS, the Council desires that the bonds 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 Land Acquisition Revenue Bonds (the "Bonds") of the Village, in an aggregate principal amount not to exceed $2,800,000, in one or more series, for the purpose of financing a portion of the costs of acquiring land located at the northeast corner of West Enid Drive and Fernwood Road for Village purposes, financing legal costs related thereto, and paying costs of issuance of the Bonds. The Bonds shall be designated Village of Key Biscayne, Florida Land Acquisition 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 sixteen (16) 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. 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. {M1639637_3} Section 3. This Ordinance will become effective immediately upon adoption on second reading. PASSED AND ADOPTED on first reading this 9th day of October . 2007. PASSED AND ADOPTED on second reading this 23rd day of Oct• . er , 007. ATTEST: CONCHITA H. ALVAREZ, CMC, VILLAGE CLERK APPROVED AS TO FORM AND LEGAL SUFFICIENCY: 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 VICE PRESIDENT, 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 - SECOND READING BY THE VILLAGE COUNCIL MEETING FOR OCTOBER 23, 2007 in the XXXX Court, was published in said newspaper in the issues of 10/11/2007 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 thiS.,advertisemfiet-#Qr publication in the said newspaper; Sworn to and subscribed before me this (SEAL) O.V. FERBEYRE personally known to me MARIA 1. MESA NOTARY PUBLIC STATE OF FLORIDA Commission #DD293855 Expires: MARCH 04, 2008 VILLAGE OF KEY BISCAYNE OFFICE OF THE VILLAGE CLERK PUBLIC NOTICE Notice is hereby given that title following ordinance will be considered on Second Reading by the Vibes Council of the Village of Key Biscayne at a meeting to be held on Tu 1 October 23, 2007 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 EXCEEDING $2,800,000 OF LANK ACOUIBITION REVENUE BONDS OF THE VILLAGE OF KEY BISCAYNE, FLORIDA; PROVIDING FOR -A SUPPLEMENTAL RESOLUTION BETTED; FORTH THE DETAILS OF SAID BONDS; AND PROVIDING AN EFFECTIVE DATE. The proposed Ordinance may be inspected by the public at the Office of the Village Clerk. Interested, parties may appear at the Public Hearing and be heard with respeot to the proposed Ordinance. Any person wishing to address the Verge Councl 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 persons who are disabled and who need special accommodations to participate in this proceeding because of that disability should contact the Office of the Village Clerk, 88 West McIntyre Street, Suite 220, Key Biscayne, Florida 33149, telephone number (305) 365-5506, not later than two business 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 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 submitted in writing and or presented In person at the public hearing. 10/11 Conchita H. Alvarez, CMC Village Clerk 07-4-177/902542M