Item # 2020-174
A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF CUTLER BAY, FLORIDA AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $15,250,000 IN AGGREGATE PRINCIPAL AMOUNT OF TOWN OF CUTLER BAY, FLORIDA CAPITAL IMPROVEMENTS REVENUE BONDS, SERIES 2020, FOR THE PURPOSE OF FINANCING THE COSTS OF IMPROVEMENTS TO FRANJO PARK, ACQUIRING VACANT LAND FOR PRESERVATION, CONSERVATION AND RESILIENCY PURPOSES, AND REIMBURSING THE TOWN FOR THE ACQUISITION OF VACANT LAND FOR THE SITE OF A NEW CIVIC CENTER AND PUBLIC PARK, AND PAYING COSTS OF ISSUANCE OF THE BONDS; COVENANTING TO BUDGET AND APPROPRIATE CERTAIN LEGALLY AVAILABLE NON-AD VALOREM REVENUES OF THE TOWN TO PAY DEBT SERVICE ON THE BONDS; PROVIDING CERTAIN DETAILS OF THE BONDS; PROVIDING FOR THE RIGHTS OF THE HOLDERS OF THE BONDS; MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS IN CONNECTION WITH THE BONDS; AUTHORIZING THE NEGOTIATED SALE OF THE BONDS TO THE UNDERWRITER AND WAIVING COMPETITIVE BIDDING; APPROVING THE FORM AND EXECUTION OF A BOND PURCHASE AGREEMENT; DELEGATING CERTAIN AUTHORITY TO THE TOWN MANAGER FOR THE APPROVAL OF THE TERMS AND DETAILS OF SAID BONDS; APPOINTING THE PAYING AGENT AND REGISTRAR FOR SAID BONDS; APPROVING THE FORM OF AND AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND THE EXECUTION AND DELIVERY OF AN OFFICIAL STATEMENT WITH RESPECT TO SUCH BONDS; AUTHORIZING OBTAINING A BOND INSURANCE POLICY AND ANY NECESSARY COVENANTS WITH RESPECT THERETO; AUTHORIZING THE EXECUTION AND DELIVERY OF A DISCLOSURE DISSEMINATION AGENT AGREEMENT WITH DIGITAL ASSURANCE CERTIFICATION, L.L.C; AUTHORIZING A BOOK-ENTRY REGISTRATION SYSTEM FOR THE BONDS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.
- Committee
- Town Council
- Requested by
- Town Manager's Office
- Introduced
- September 18, 2020
- On agenda
- September 24, 2020
- Passed
- September 24, 2020
- Enacted
- September 24, 2020
- Enactment no.
- RES 20-55