Miami-Dade
Legislative Item File Number: 112597 |
Printable PDF Format Clerk's Official Copy |
File Number: 112597 | File Type: Resolution | Status: Adopted | ||||||
Version: 0 | Reference: R-104-12 | Control: Board of County Commissioners | ||||||
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Requester: Office of Management and Budget | Cost: | Final Action: 1/26/2012 | ||||||
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Sunset Provision: No | Effective Date: | Expiration Date: |
Registered Lobbyist: | None Listed |
Legislative History |
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Acting Body | Date | Agenda Item | Action | Sent To | Due Date | Returned | Pass/Fail |
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Board of County Commissioners | 1/26/2012 | 14A5 | Adopted | P | |||
REPORT: | Commissioner Heyman noted one Building Better Communities General Obligation Bond (GOB) program project would loose match funding in March 2012, and three other GOB program projects would loose their match funds by the end of 2012. Hearing no other questions or comments, the Commission members proceeded to vote on the foregoing proposed resolution, as presented. | ||||||
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Board of County Commissioners | 1/24/2012 | 14A5 | Carried over | 1/26/2012 | |||
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County Mayor | 1/23/2012 | Additions | |||||
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Internal Mgmt. & Fiscal Responsibility Committee | 1/10/2012 | 3J | Forwarded to the BCC by the BCC Chairperson with a favorable recommendation | 1/24/2012 | P | ||
REPORT: | Assistant County Attorney Oren Rosenthal read into the record the title of the foregoing proposed resolution. Hearing no questions or comments from Committee members or the Administration, the Committee proceeded to vote on the foregoing resolution. Chairman Martinez approved a Waiver of the Board of County Commissioners Rules to place the foregoing resolution on the meeting agenda of the Board of County Commissioners’ meeting of January 24, 2012. | ||||||
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County Attorney | 12/15/2011 | Assigned | Monica Rizo | 12/29/2011 | |||
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County Mayor | 12/12/2011 | Assigned | Ed Marquez | 12/12/2011 | 12/12/2011 | ||
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County Mayor | 12/12/2011 | Assigned | County Attorney | 2/7/2012 | |||
REPORT: | OMB (PENDING CMTE ASSIGNMENT) (BCC SPONSOR: VICE CHAIRWOMAN EDMONSON) (ASST. COUNTY ATTY: MONICA RIZO) | ||||||
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Legislative Text |
TITLE RESOLUTION EXTENDING THE SUNSET DATE OF IMPLEMENTING ORDER 3-47 RELATING TO BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM SURPLUS FUNDS, PREMIUM FUNDS AND UNSPENT BOND PROCEEDS BODY WHEREAS, this Board desires to accomplish the purposes outlined in the accompanying memorandum and implementing order, copies of which are incorporated herein by reference, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board approves extending the sunset provision for Implementing Order (IO) 3-47 to January 31, 2018; the IO details the administrative process relating to the allocation of surplus and other funds from Building Better Communities General Obligation Bond Program and authorizes the Mayor or Mayor�s designee to exercise any and all rights conferred therein. HEADER Date: To: Honorable Chairman Joe A. Martinez and Members, Board of County Commissioners From: Carlos A. Gimenez Mayor Subject: Building Better Communities General Obligation Bond Program - Extension of Implementing Order 3-47 Relating to the Use of Surplus Funds, Premium Funds and Unspent Bond Proceeds STAFF RECOMMENDATION Recommendation It is recommended that the Board of County Commissioners (Board) adopt the attached resolution extending the sunset date for Implementing Order (IO) 3-47 relating to the use of Building Better Communities General Obligation Bond (BBC-GOB) Program Surplus Funds, Premium Funds and Unspent Bond Proceeds (collectively known as �BBC-GOB Funds�) through January 31, 2018. Scope This item impacts all Commission districts since BBC-GOB projects are located throughout the County. Fiscal Impact/Funding Source There is no fiscal impact from the implementation of this recommendation. The funding source for affected projects is BBC-GOB Funds. Track Record/Monitor The responsible party for monitoring BBC-GOB funds is the Office of Management and Budget (OMB). Delegation of Authority There is no additional delegation of authority related to this item. MANAGER'S BACKGROUND Background The BBC-GOB program is a $2.9 billion, multi-year capital improvement program funded by the periodic issuance of general obligation bonds. BBC-GOB surplus and premium funds may be generated as part of the program and may become available at any given time. It is important to have guidelines in place to administer these funds. On March 17, 2009, through Resolution R-290-09, the Board approved IO 3-47 relating to the administrative process for the use of surplus funds, premium funds and unspent bond proceeds. On January 21, 2010, through Resolution R-49-10, the Board approved an extension to the sunset date for the IO to January 30, 2012. A primary responsibility of administering the program is to apply bond proceeds to projects that are ready to move forward. The underlying premise of the IO is that BBC-GOB Surplus Funds, Premium Funds and Unspent Bond Proceeds will be used primarily to fund budget shortfall in projects, subject to Board approval, and to accelerate projects, through the process described in the IO. The status of Surplus and Premium Funds will continue to be detailed in the BBC-GOB Quarterly reports to the Board. The process delineated in the IO and approved by the Board has been working effectively in keeping the program moving forward. We recommend the IO be extended through January 31, 2018 to assure the program�s continued success. _______________________ Deputy Mayor |
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