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<br />RESOLUTION NO. 99--fi <br /> <br />A RESOLUTION OF THE CITY OF SUNNY ISLES BEACH, <br />FLORIDA, ACCEPTING THE COMMITMENT OF SUNTRUST <br />BANK, MIAMI, NATIONAL ASSOCIATION TO PURCHASE THE <br />CITY'S BOND ANTICIPATION NOTE, GOVERNMENT CENTER <br />SERIES, IN A PRINCIPAL AMOUNT OF $5,000,000 FOR THE <br />PURPOSES OF FINANCING ON A TEMPORARY BASIS ALL OR A <br />PORTION OF THE COSTS OF ACQUISITION, CONSTRUCTION <br />AND EQIDPPING OF THE SUNNY ISLES BEACH GOVERNMENT <br />CENTER AND AN ADJACENT PARKING GARAGE AND OF <br />PAYING CERTAIN COSTS RELATED THERETO; <br />ESTABLISIDNG THE INTEREST RATE FOR SUCH BOND <br />ANTICIPATION NOTE; AND PROVIDING FOR AN EFFECTIVE <br />DATE. <br /> <br />WHEREAS, the City Commission (the "City Commission") of the City of Sunny <br />Isles Beach (the "City") has on this date enacted an Ordinance authorizing the City to issue <br />an obligation to be known as "City of Sunny Isles Beach, Florida Bond Anticipation Note, <br />Government Center Series" (herein, the "Bond Anticipation Note") in a principal amount of <br />$5,000,000 to finance on a temporary basis the costs of the proposed Sunny Isles Beach <br />Government Center and an adjacent parking garage and all incidental and necessary costs <br />relating thereto (collectively, the "Project"); and <br /> <br />WHEREAS, in the Ordinance, the City Commission found that SunTrust Bank, <br />Miami, National Association, a national banking association with its designated office in <br />Miami, Florida (herein, the "Bank"), provided the most favorable proposal to the City for <br />the purchase of the Bond Anticipation Note, a copy of which proposal has been presented at <br />this meeting (the "Commitment"); <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF <br />THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is <br />adopted pursuant to the provisions of the Charter of the City of Sunny Isles Beach, Florida, <br />as amended and supplemented, the Florida Constitution, Chapter 166, Florida Statutes, as <br />amended and supplemented, Chapter 215.431, Florida Statutes, as amended and <br />supplemented, and other applicable provisions of law (collectively, the "Act"). <br />