2013-0409 Special City Commission Meeting

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Summary Minutes:Special City Commission Meeting April 9,2013 Sunny Isles Beach,Florida • Owners Thereof; Making Certain Covenants Relating to the Issuance of the 2013 Bond; Designating the 2013 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 the 2013 Bond; and Providing for an Effective Date. Action: [City Clerk's Note: Schedule A —Bond Debt Service, was distributed prior to the meeting.] City Clerk Hines read the title,and Finance Director Minal Shah reported noting that we went out to the market to see what the best rates we could get are. We received five (5) responses of which the lowest interest rate was 1.65% but we are recommending to go with BB&T which is at 1.83% The total cost of issuance with BB&T is a savings because one of the existing bonds that we have has a pre-payment penalty of 1%, and that bond belongs to BB&T and they are waiving the prepayment penalty. Therefore the totals savings is to go with BB&T because overall the City will save $650,000 over the next 10 years. Public Speakers: None Vice Mayor Aelion moved and Commissioner Scholl 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 Thursday,April 18,2013,at 6:30 p.m. Vote: Commissioner Gatto yes Commissioner Levin yes Commissioner Scholl yes Vice Mayor Aelion yes Mayor Edelcup yes 5. NEW ITEM: 5A. Discussion on Beach Volleyball. Action:Mayor Edelcup said he has a request from two people to speak on Beach Volleyball. Public Speakers: Alvaro Minor; Mike Lukins; Alvaro Minor said he is a resident and a part-time employee of Sunny Isles Beach. He teaches children and is a coach. For the last ten years they have been enjoying the Beach Volleyball court in front of Samson Park but due to the construction by the Chateau, it has been removed a couple of months ago. There is plenty of space on the beach where it can be located so they can continue playing. They have requested it before but have not received an answer. Mayor Edelcup said it seems like something that we could accommodate and he asked the City Manager if he can find a space on the beach for them,perhaps a beach access point. City Manager Russo said it may have been removed in anticipation of the developer being able to use the entire area that was originally designated out to the beach. There was a couple thousand square feet, if you recall, that he was not able to use, but he will take a look at it. City Official Clay Parker said that Coastal took down the posts and they are saving them to relocate them wherever the City wants to put them,and they will relocate the poles and put the net back up. City Manager Russo asked him if that was out of the Park area,they are not infringing on the back of the east side of our Park, and Clay said no, they were further west 9