City of Coral Gables

File #: 16-4770    Version: 1 Name:
Type: Resolution Status: Adopted
File created: 1/29/2016 In control: City Commission
On agenda: 2/9/2016 Final action: 2/9/2016
Enactment date: 2/9/2016 Enactment #: 2016-42
Title: A Resolution of the City of Coral Gables, Florida amending and supplementing Resolution No. 2014-233 and Resolution No. 2015-226, to amend the series designation of the bonds; providing certain other matters in connection with the making of such loans. (This Resolution changes the title of the bonds from “Series 2015” to “Series 2016,” for the Streetscape Project Revenue Bonds)
Attachments: 1. Signed Resolution 2016-42, 2. Signed Cover Memo - Agenda Item C-5.pdf, 3. Resolution Amended-City (01084094)

Title

A Resolution of the City of Coral Gables, Florida amending and supplementing Resolution No. 2014-233 and Resolution No. 2015-226, to amend the series designation of the bonds; providing certain other matters in connection with the making of such loans. (This Resolution changes the title of the bonds from “Series 2015” to “Series 2016,” for the Streetscape Project Revenue Bonds)

Body

The City previously approved Resolution No. 2014-233 on October 14, 2014 and Resolution No. 2015-226 on September 22, 2015 authorizing and approving the issuance of revenue bonds not to exceed $25,000,000 for the Giralda Avenue and Miracle Mile Streetscape Project.

 

Due to delays in finalizing construction estimates for the project, the issuance of the bonds was not able to occur in calendar year 2015.  This resolution changes the series title from “Series 2015” to “Series 2016” as the bond sale will occur in calendar year 2016.