2016 HFA 02-16-14RESOLUTION NO.HFA 02-16-14
A Resolution of the City of South Miami Health Facilities Authority (the
"Authority")to approve and to transmit the Authority's Annual Report to
the City of South Miami City Commission and Miami-Dade County
Commission.
WHEREAS,theCity of SouthMiamiHealthFacilitiesAuthority(the"Authority")
wascreatedpursuanttotheHealthFacilitiesAuthoritiesLaw,PartIII of Chapter 154 ofthe
Florida Statutes,as amended (the"Act"),upona delineation of aneedfortheAuthorityby
the South Miami City Commission under Section 154.207(1)of theAct;and
WHEREAS,pursuant to City of South Miami Ordinance No.11-95-1584 (the
"Ordinance"),Chapter 154,Part III and Chapter 159,Part II,Florida Statutes,the Authority
is vested with the power to authorize the issuance and sale of bonds,and to take various
other actions forthe purpose of assisting health facilities inthe acquisition,construction,
renovating,rehabilitating,furnishing,equipping,financing and refinancing of projects;and
WHEREAS,Ordinance 11-95-1584,Section 4,sets forth the "Powers and Duties of
the Authority,"andrequirestheAuthorityto"Tomakeareporttothe Commission within
thefirst90-days of eachcalendaryear,ofthe Authority's activitiesforthepreceding
calendaryear.Eachreportshallsetforthacompleteoperatingandfinancialstatement
covering its operation during the year."
WHEREAS,acopyofthe financial report,bythechief financial officerfortheCityof
SouthMiamipreparedafinancialreportfortheAuthoritywhichisattachedheretoasExhibitA;
and
WHEREAS,the Authority wishes to approve the attached Annual Report andto
designate certain individuals toactonitsbehalfintheseregardsandtoexecuteand deliver the
AnnualReportandtakeanyotherrequiredactionsinconnectiontherewith.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY OF SOUTH MIAMI
HEALTH FACILITIES AUTHORITY THAT:
Section1.TheAuthorityhereby approves theAuthority'sAnnualReportpreparedon
behalfoftheAuthoritybythechieffinancialofficerfortheCityofSouthMiami,whichis
attached heretoasExhibitA.The Annual Reportwillbe transmitted totheCityofSouth
MiamiCityCommissionandMiami-DadeCountyCommission.
Section2.Severability.Ifanysection,paragraph,clauseorprovisionofthis
Resolutionshallbeheldtobeinvalidorineffectiveforanyreason,theremainderofthis
Resolution shallcontinueinfull force andeffect,itbeingexpresslyhereby found and
declared thatthe remainder ofthis Resolution would have been adopted despite the invalidity
orineffectiveness of suchsection,paragraph,clauseorprovision.
Section3.Effective Date.This Resolution shalltakeeffect immediately uponits
adoption.
PASSEDANDADOPTEDthis 29th day of March,2016.
ATJTEST:APPROVED
CITY CLERK ^^y CHAIR
AUTHORITY VOTE:
Chair:Subrata Basu
Vice Chair:Eugene Pugh
Member:Lydia Puente
Member:(Vacant)
Member:(Vacant)
Page 2 of2
EXHIBIT A
FINANCE DEPARTMENT
March 21,2016
Mayorand Commission
Re:City of South Miami
Health Facilities Authority
2016 Annual Report
Hon.Mayor,ViceMayorand Commissioners:
As required by Ordinance I 1-95-1584 Section4,"Powers and Duties of the Authority,"which
requires the South Miami Health Facilities Authority to "To makea report to the Commission
within the first90-daysofeach calendar year,ofthe Authority's activitiesfor the preceding
calendaryear.Each report shall set forthacomplete operating and financial statement covering
its operation during the year."
In 1995,the City Commission of the CityofSouth Miami,Florida determined that for the
benefitofthepeopleoftheCity,theincreaseoftheircommerce,welfareand prosperity and
the improvement of their healthand living conditions,itwasessential that thepeopleofthe
Cityhaveaccess to adequate medical care andhealthfacilitiesand that itwasessential that
health facilities beprovidedwithappropriate additional meanstoassistinthedevelopment,
improvementandmaintenanceofthe public health;and that aHealth Facilities Authoritywould
provideadditionalmeanstoassistinthedevelopmentandmaintenanceoftheCity'shealth
facilities;andwas established under Section 154.207 ofthe Florida Statutes,authorizing theCity
to create apublicbodytoinsure that thepeopleoftheCityhaveaccessto adequate medical
care and health facilities.
In August 12,2013,theInternalRevenueServicecompleted their examinationofthebondissue
$800,000,000 CityofSouth Miami Health Facilities Authority Hospital Revenue Bonds,Series
2007 (Baptist Health South Florida Obligated Group)CUSIP #8388I0BY4,issued May 16,2007
withno change tothepositionthatinterest received bybondholdersis excludable fromgross
income under section 103 of the Internal Revenue Code.
In calendaryear 2015,theSouth Miami Health Facility Authorityconductedno business.The
boardlastmeton May 8,2015 toapproveandtotransmittheAuthority's Annual Report.
Furthermore,atthistimetheSouth Miami Health Facility Authorityhasnobankaccountand
has not conducted any further operation.
If you should have any questions,please feel freetocontactmeat anytime.Thank you always
for the continued support,
is
Since
^,Cr.FA,CGFM,CGMA
Chief Financial Officer