R7F - Approve Council Towers Bond Financing

A Resolution Of The Mayor And City Commission Of The City Of Miami Beach, Florida, Approving, Solely For The Limited Purposes Of Section 147(f) Of The Internal Revenue Code And Section 163.01, Florida Statutes, The Issuance By The Capital Trust Agency Of Its Mortgage Facilities Revenue Bonds, In One Or More Series Pursuant To A Plan Of Finance, In An Aggregate Principal Amount Not To Exceed $38,450,000, For The Purpose Of Financing The Facilities Herein Described, Located At 1040 Collins Avenue ("council Towers North") And 533 Collins Avenue ("council Towers South"), Which Financing For The Foregoing Affordable Senior Housing Facilities Is Contemplated Pursuant To The Terms Of City's Long-term Lease Agreements With The Miami Beach Senior Citizens Housing Development Corporation, Inc.; And Providing An Effective Date.