Meeting Time: July 21, 2020 at 6:30pm EDT
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Agenda Item

7.A) A RESOLUTION OF THE MIAMI SHORES VILLAGE COUNCIL AUTHORIZING THE BORROWING OF NOT EXCEEDING $3,760,000 FROM THE POOLED COMMERCIAL PAPER LOAN PROGRAM OF THE FLORIDA LOCAL GOVERNMENT FINANCE COMMISSION PURSUANT TO THE TERMS OF THE LOAN AGREEMENT AMONG MIAMI SHORES VILLAGE, JP MORGAN CHASE BANK, N.A. AND THE FLORIDA LOCAL GOVERNMENT FINANCE COMMISSION, IN ORDER TO REFINANCE LOANS PREVIOUSLY MADE TO FINANCE VARIOUS CAPITAL IMPROVEMENTS WITHIN THE VILLAGE; AUTHORIZING THE EXECUTION OF A LOAN NOTE OR LOAN NOTES TO EVIDENCE SUCH BORROWING AND AGREEING TO SECURE SUCH BORROWING WITH A COVENANT TO BUDGET AND APPROPRIATE LEGALLY AVAILABLE NON-AD VALOREM REVENUES OF THE VILLAGE, ALL AS PROVIDED IN THE LOAN AGREEMENT; AUTHORIZING THE EXECUTION AND DELIVERY OF SUCH OTHER DOCUMENTS AS MAY BE NECESSARY TO EFFECT SUCH BORROWING; AND PROVIDING AN EFFECTIVE DATE (STAFF: FINANCE DIRECTOR).