2015 HFA 02-15-12RESOLUTION NO.HFA 02-15-12
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.
WHEREAS,theCity of SouthMiamiHealthFacilitiesAuthority(the"Authority")
wascreatedpursuanttotheHealth Facilities Authorities Law,PartIIIofChapter154ofthe
FloridaStatutes,asamended(the"Act"),uponadelineation of aneedfortheAuthorityby
theSouthMiamiCity Commission underSection154.207(1)of theAct;and
WHEREAS,pursuant toCity of SouthMiami Ordinance No.11-95-1584(the
"Ordinance"),Chapter154,PartIIIandChapter 159,PartII,Florida Statutes,theAuthority
isvestedwiththe power to authorize theissuanceandsale of bonds,andtotakevarious
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,"and requires the Authority to"Tomakea report tothe Commission within
the first 90-days of each calendar year,of the Authority's activities forthe preceding
calendar year.Each report shall setfortha complete operating and financial statement
covering its operation during the year."
WHEREAS,acopy of thefinancialreport,bythe chief financialofficerfortheCity of
South Miami prepared a financial report forthe Authority which is attached hereto as Exhibit A;
and
WHEREAS,the Authority wishes to approve the attachedAnnual Report andto
designate certain individuals toactonits behalf in these regards andto execute and deliver the
Annual Report andtakeany other required actionsin connection therewith.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY OF SOUTH MIAMI
HEALTH FACILITIES AUTHORITY THAT:
Section 1.The Authority hereby approves the Authority's Annual Report prepared on
behalf of the Authority bythe chief financial officer fortheCity of South Miami,which is
attached heretoas Exhibit A.TheAnnual Report willbe transmitted totheCity of South
Miami City Commission.
Section 2.Severability.If anysection,paragraph,clause or provision of this
Resolution shall be held tobe invalid or ineffective forany reason,the remainder of this
Resolution shall continue infullforceandeffect,itbeing expressly hereby foundand
declaredthatthe remainder of thisResolutionwouldhavebeenadopteddespitetheinvalidity
or ineffectiveness of such section,paragraph,clauseor provision.
Section 3.Effective Date.ThisResolutionshalltakeeffectimmediatelyuponits
adoption.
Res.No.HFA 02-15-12
Section 3.Effective Date.This Resolution shalltake effect immediately uponits
adoption.
PASSED AND ADOPTED this ff"day of flfloM ,2015.]OM__,
TEST:
TYCLERK
'dj3u^ht
7
APPROVED
CHAIR
AUTHORITY VOTE:3-0
Chair:^•fi .PN ILlP$Yea
Vice Chair:Subrata Basu Yea
Member:Eugene Puah Yea
Member:
Member:
Page 2 of 2
EXHIBIT A
FINANCE DEPARTMENT
March 17,2015
Mayorand Commission
Re:City of South Miami
Health Facilities Authority
2015 Annual Report
Hon.Mayor,ViceMayorand Commissioners:
As required by Ordinance I 1-95-1584 Section4,"Powers andDutiesof the Authority,"which
requires the South Miami Health Facilities Authority to "To makea report to the Commission
within the first 90-days ofeach calendar year,of the Authority's activities for the preceding
calendar year.Each report shall set forth a complete operating andfinancial statement covering
its operation during the year."
In 1995,the City Commission of the CityofSouth Miami,Florida determined that for the
benefit of the people of the City,the increase of their commerce,welfare and prosperity and
the improvement of their healthand living conditions,itwas essential that the people of the
Cityhave access to adequate medical care andhealthfacilitiesand that itwas essential that
healthfacilitiesbe provided with appropriate additionalmeans to assistin the development,
improvement and maintenance of the publichealth;and that aHealthFacilities Authority would
provideadditionalmeans to assistin the development and maintenance of the City'shealth
facilities;andwasestablished under Section 154.207 oftheFloridaStatutes,authorizingtheCity
to create apublicbodytoinsure that thepeopleof the Cityhaveaccessto adequate medical
care and health facilities.
In August 12,2013,theInternalRevenueService completed their examinationofthebondissue
$800,000,000CityofSouth Miami Health Facilities AuthorityHospitalRevenueBonds,Series
2007 (Baptist HealthSouth Florida Obligated Group)CUSIP #8388I0BY4,issued May 16,2007
withnochangetothepositionthat interest receivedbybondholdersisexcludablefromgross
income under section 103 of the Internal Revenue Code.
In calendaryear 2014,theSouth Miami Health Facility Authorityconductedno business.The
boardlastmeton April 4,2014 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.
Since
AKrfedo RhfeKol,CPA,Cr.FA,CGFM,CGMA
Chief Financial Officer