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7B. AN ORDINANCE OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, <br /> AUTHORIZING THE ISSUANCE OF A UTILITIES TAX REVENUE BOND, <br /> SERIES 1999, OF THE CITY OF SUNNY ISLES BEACH, FLORIDA IN A <br /> PRINCIPAL AMOUNT NOT TO EXCEED $1,000,000 FOR THE PURPOSES OF <br /> FINANCING ALL OR A PORTION OF THE COSTS OF ACQUISITION OF <br /> CERTAIN REAL PROPERTY IDENTIFIED AS TRACT A OF THE PERU <br /> TOWERS SUBDIVISION AS RECORDED IN PLAT BOOK 99, PAGE 66 OF THE <br /> PUBLIC RECORDS OF MIAMI-DADE COUNTY AND LOCATED BETWEEN <br /> NORTH BAY ROAD AND 181ST AND 182ND STREETS IN THE CITY FOR USE <br /> AS A PARK AND RECREATION AREA AND OF PAYING CERTAIN COSTS <br /> RELATED THERETO; DETERMINING THE NEED FOR A NEGOTIATED SALE OF <br /> SUCH BOND TO SUNTRUST BANK, MIAMI,N.A.; PROVIDING FOR THE TERMS <br /> AND PAYMENT OF SUCH BOND AND FOR THE RIGHTS, REMEDIES AND <br /> SECURITY OF THE OWNERS THEREOF; MAKING CERTAIN COVENANTS <br /> RELATING TO THE ISSUANCE OF SUCH BOND; DESIGNATING SUCH BOND <br /> AS A "QUALIFIED TAX-EXEMPT OBLIGATION" WITHIN THE MEANING OF <br /> SECTION 265(b)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED; <br /> AUTHORIZING THE PROPER OFFICERS OF THE CITY TO DO ALL OTHER <br /> THINGS DEEMED NECESSARY OR ADVISABLE IN CONNECTION WITH THE <br /> ISSUANCE OF SUCH BOND; AND PROVIDING FOR AN EFFECTIVE DATE. <br /> ACTION: City Clerk Brown-Morilla read the title of the proposed ordinance and City <br /> Finance Director Jack Neustadt introduced the item. <br /> Public Speaker: none <br /> Vice Mayor Turetsky confirmed that the bonds would be tax-free, and he asked if a <br /> member of the Commission could be permitted to purchase them. Mr. Neustadt said that <br /> while the bonds would be tax-free, SunTrust Bank had elected not to sell them, and would <br /> retain the bonds in their own portfolio. <br /> Vice Mayor Turetsky moved, and Commissioner Iglesias seconded a motion to approve <br /> the proposed ordinance on first reading. The motion was approved by a roll call <br /> vote of 4-0-1 in favor. Second reading, public hearing will be June 17, 1999. <br /> Vote: Commissioner Iglesias Xes <br /> Commissioner Kauffinan absent <br /> Commissioner Morrow <br /> Vice Mayor Turetsky y_es <br /> Mayor Samson <br /> 7C. AN ORDINANCE OF THE CITY OF SUNNY ISLES BEACH,FLORIDA,ADOPTING <br /> A GENERAL PENALTY FOR VIOLATION OF THE CODE OF SUNNY ISLES <br /> BEACH, FLORIDA; ESTABLISHING CODE COMPLIANCE RESPONSIBILITY, <br /> CIVIL LIABILITY AND PENALTIES FOR VIOLATIONS; PROVIDING FOR <br /> SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; PROVIDING FOR <br /> A REPEAL OF CONFLICTING PROVISIONS AND AN EFFECTIVE DATE. <br /> Summary Minutes of the May 13, 1999, Regular City Commission Meeting - Page 3 of 15 <br />