2002 0514 Regular City Commission Meeting

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Summary Minutes: Regular City Commission Meeting May 14,2002 City of Sunny Isles Beach, Florida To: That the applicant provides a recordable Unity of Title between the hotellbeacti club parcel and the parking lot parcel to provide for a total of 576 parking spaces. The purpose of this request is to allow the applicant to revise a resolution to reflect the new required parking for the entire development and revising a Unity of Title. All prior approved plans and conditions with the exception of the modification under this resolution shall remain in effect. Protests 0 Wai vers o Ex-Parte o Action: [City Clerk's Note: Clifford Schulman, Esq. requesting a withdrawal, without prejudice. See item 6C for discussion and the vote in favor of withdrawal. The motion for withdrawal without prejudice was approved as Resolution No. 02-Z-71, by a voice vote of 5-0 in favor.] Public Speakers: Clifford Schulman, Esq. 7. ORDINANCES FOR FIRST READING 7 A. An Ordinance of the City Commission of the City of Sunny Isles Beach, Florida, Authorizing the Issuance of a Stormwater Utility Revenue Bond, Series 2002, of the City of Sunny Isles Beach, Florida in a Principal Amount of $3,000,000.00 for the Purposes of Financing All or a Portion of the Costs of Certain Improvements to the Golden Shores Stormwater Utility System and Paying Certain Costs Related Thereto; Determining the Need for a Negotiated Sale of Such Bond to SunTrust Bank; Providing for the Terms and Payment of Such Bond and for the Rights, Remedies and Security of the Owners Thereof; Making Certain Covenants Relating to the Issuance of Such Bond; Designating Such Bond as a "Qualified Tax-Exempt Obligation" Within the Meaning of Section 265(b )(3) of the Internal Revenue Code of 1986, as Amended; Authorizing the Proper Officers of the City to Do All Other Things Deemed Necessary or Advisable in Connection with the Issuance of Such Bond; and Providing for an Effective Date. Action: City Clerk Brown-Morilla read the title and City Finance Director Jean Watson reported. Public Speakers: none Commissioner Edelcup asked what the interest rate was and Jean Watson said it will be 4.6% for twenty (20) years. Commissioner Kauffman moved and Commissioner Goodman seconded a motion to approve the proposed ordinance on first reading. The motion was approved by a roll call vote of 5-0 in favor. Second reading, public hearing will be held on Tuesday, May 21, 2002, at 7:30 p.m. Vote: Commissioner Edelcup yes 5