Sigo, Shelly; DeSue, Tedra
April 2003
Bond Buyer;4/3/2003, Vol. 344 Issue 31607, p31
Trade Publication
Mayor Manny Diaz gave his second state of the city address, telling constituents that his administration is not afraid of“ changing business as usual and of creating a Miami that serves as an example for all others to follow.” In January, 2003, the City Commission approved the mayor's recommendation to hire businessman Joe Arriola to be Miami's first chief executive officer as part of Diaz's plan torestructure city government using a corporate model. “ While all of us owe a debt of gratitude to those employees who have served the city for many years, it was absolutely imperative that we changed the way we operated by discarding the old ideas of government structure, replacing them with a private-sector model that trims bureaucratic bloat and increases the efficiency with which the city operates,” Diaz said in his address. As a measure of the reorganization plan's success, Diaz said,“ for the first time in eight years our city rejoined the bond market, had its bond rating improved four separate times, saved over three million dollars in annual refinancing charges, and issued $155 million in new bonds.


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