1926-1298 RESO
,
0'
"
rt4.tiltl
lllI~if~
...
RESOLUTION NO. 1298
A RESOLUTION OF THE CITY COUNCIL OF
2!HE CITY OF .MIAMI BEACH, lH~RIDA,
CANVASSING THE RETUlhfS OP AIr ELECTIOlr
~LD JULY 31st, 192~), AND AUTHO.RIZDTG
~J.1H.r..; ISSUANCB Db' $1,355,000 Db' PUBLIC
D~ROV~;[ZNT nOlID~ OF SAID CITY A1ID
Rl~PEALING RESOLUTION lTO. 1093, PASSj~D
AND ADOPTED AUGUST 1, 1925.
WHEIDlAS, tho City Council of the (;ity of i.Iiami .Beach, ,h'lorida,
on June 24, A. D. 1925, passed a resolution authorizing the issuance
of bonds in the sums and for the purposes hereinafter sot forth,
subject to the authorization by the duly reeistered and qualified
voters of said Oity, who are freeholders therein and who are the
owners of and pay taxos on real or personal property within said
CitY,at a special eleotion which said resolution direoted to bo
held on July 31st, 1925.
NOW, THEREFORE, BE IT RESOLVED by the Uity Council of the city
of Miami Boaoh, ~lorida:
(\'
SECTIon ONE: That said Oi ty Oouncil has on AU!:;us t 1, 1925,
publioly canvas;3ed tho returns of the aforesaid election which can-
vass was made solely, exclusively and entirely from the returns of
certificates of the Inspectors and Ulerk who held and conducted said
election and this Uity Council acting as canvassing board has found:
That upon the question: "Shall the City of Iliami Beach, Florida,
issue negotiable coupon bonda in the sum of :;$188,000
for the purpo se
of constructing a building, the laying of a discharge drain, the in-
stallation of a pump and equipment all for the operation of a plant
for neutralizing and disposing of sowage?1t 26 voters voted "Yes" and
No voters voted "No".
'.chat upon the question: "~hall tho City of Miami Beach, lHorida,
issue negotiable coupon bonds i.n the sum of :;;i134,OOO for tho purpose
of paying the Uity's share of the cost of constructing sanitary sewers?"
26 voters voted "Yea" and Uo voters voted II No 1/.
. .
'.chat upon the question:
"Shall the City of Miami Beach, Florida,
..; Ii
1 ~'.
issue negotiable coupon nonds in the sum 0 f ~$66, 000 for the purpose of
pfl;jril1f.j tho Uity. s share of the cost of constructi,ns storm sewers?"
26 'Vo-!Jc:cs "flotccl I'Yes" llnd No votors voted "Noll.
'JJW.t upon the question: IIShall the Cit~l of I,Iiarni Beach.
j1'loridn, issue negotiable coupon bonds in .tho sum of ~150.000. :1"or
tho }HU'pOno 0 f extending and dovelopinij its wator vlorl::s sYfltom?"
26 voto:rn voted dYC:JfJiI anc.l Ha voters voted "lJO.1I
'J:hat upon the que st ion: IIShall the ui ty of IJiami Beach.
l"lorida" issue negotiable coupon bonds in the sum of {;76,OOO, for
the purpose of constructing three bridges across Collins Unnal?"
26 voters voted "Yes'. and No voters voteu "NO"",
'that upon the question: "Shall the City of 1:11ami Beach,
Florida, issue negotiable cou11on bonds in tho sum of :;p15.000 for the
purpose of paving its streets?" 26 voters voted "Yes" a!ld Ho voters
vat 0<1 "No \I .
~hat upon the question: "Shall the City of l!iami Beaah, Florid~,
issue negotiable coupon bonds in the sum of :jji20,OOO -r,)r the purpose
1\ of developin,:'; and improving its public Parks?" 26 voters voted "Yea"
,
and Iro . vo tors voted IINo".
'that upon the question: uShall the Ui ty of Miami Beach, b'lorlda,
issue nogotiable coupon bonds in the sum of ~15,OOO for the purpose
of constructing a wharf or dock for ita sani tary dep8.rtmont~.. 26 votere
voted uYes" and No vo tel's vot'ed IINo".
'.J!hat upon the question: "Shall the City of LUa'11i Bench, Florida,
I
i
,i
..\
issue negotiable coupon bonlm in tho sum of ~300tOOO for the puxpose
of co~structing jetties for tho protection of tho water front on the
Atlantic Ocoan in said Oity aGai~st actions of tho Boa?" 26 voters
votod IIYes" and No voters voto(l "Ho".
'fhat upon the quo~3tion: nahall the City o:~ I.!iami Beach, l!'loriua,
'.'f',
issuo HOgO t ial)lo COu";')0 n 1)0 tHIn :in tho sum of ,,,~390. 000 iOor tho pUl'pO 30
of constructing a Uity Hall and machine shop and warohouso for the
water and sewer departrnonts?" 26 yotors voted "Yes" and. No voters voted
"lToll.
And that a majority of the votes cast upon ench of the aforesaid
questions was for tho issuance of said bonds and said City C01L~cil does
hereby declare tho result of said election upon each of said questions
to bo for the issuance of said bonds in the aggregr:te sum of $1,355,000.
Slf9.}:!&~L TW.Q: '.l!hat pursuant to said. 8.u....horizntion at the said
eloction thore bo is:3uecl :;i)1,365,00J of negotiablo coupon bonds of tho
City o:r Ll:Le.mi beach, b'lori(lD.. bearing da.te Uarch 1f,t, 1926, and bear-
ins intar0st at a ra~e to be hereaftor dotor:ninod, not exoeeding 6~
per annam, which interest shall be payable sOi1i-annua11y on the first
daYfJ of i.1[l.rch and ;:)opte:aber in each year 8.l1.d be evidonced by coupons
attachod to the principal bonds and both tho principal ani interest
s.hnII be payable in gold coin of the Uni tad 8tates of tho present
stundard of ~eight and fineness at the Unitod states 110rteage and
1:rus t Company in Hew Yorlt: ui ty, \7h1ch bonus :::ha1l be registerable as
to principal in accordance with tho endorse~ents which this resolu-
tion directs to be pr:l.n tad on said bonds and that thB Ui ty Ulerk of
said Uity is heroby designated Hegistrar for th~t pu?pose.
(j I
SIWTJiON THRl~m: 'J!hat the said bonds shall cOL1prise ten distinct
classos, each class distinct from the remaining classes by the numbers
a881 gn(;)(l thereto as hereinafto:r in this resolut ion provided, and that
the a110"Ll.nt, purpose of issuance and maturi tiGS of each class shall be
us fo1lorlm: the day and month of all ma tur i tLos to be the first day
in JAarch in the respect ive years statecl:
b'or cOllscructing and equi:pin~ a plant for neutra.lizing and dis-
posing of sewage, ;p188,OOO, matllring ~9,OOO. A. D. 1927 to 1933, in-
elusive; $14,000, 1)34; '10,000, 1J35 and 1936; ~21,OOO, 1937 and
$10,000 1938 to 194.4 inclusive.
~or paying the Uity's shara of the cost of constructins sanitary
S8wers, ~134,OOO maturing ~6,OOO A. D. 1927 to 1944, inclusive and
~13,OOO A. D. 1945 and 1J46.
.Jllor pa;yinG tho Uityls sllfl.rG for tho cout of cOlJ.structi:1.g storm
sowers ~;?66,OOO maturing ;;;)6,000 A. D. 1027 nncl J.9[~rJ. ~3,OOO 1929 to
1946, inclusive.
~'~i
.L1'or extending and developing its water vwrks system ~150,000
I
"
maturing :;P7,OOO A. D. 1927 to 1944 incl~lsive and ~il1(~,OOO A. D. 1945
and 1946.
.w'01' CO;l;Jt:C,lcting ol'id.:sos ;~;7G,DOO matU:cLl(o; \;''1,000 A. D. 1927 to
ly.~2 in(~lu;,:d.vo and \/3,000 l~. D. 19/1~0 to IJ<1G LlCl,l~d.vo.
]i1o:r: paving it:, streots ~ilG,OGO r,utu-ring ~;l,OOO 1\... D. 1927 to
1 'J42 inchw i vo.
}}Ol' a.OV010;1J.D'!, ancl im~)rovi:l!-: it:] lJU'll'ic l'al<:n ~;i20,OOO mntl.rin~
01,000 a. D. 1J27 to 1946 inalJsivc.
lito!' con::.;truntln,; D.. Wh~l:cf 01' a.oc';: for its 3nn:Ltary department
;~J.5,\)O.) mntu:cLng ,)l,OJJ A. D. 1927 to 19"11, inc1'J.o1ve.
FoJ'.' confJtruoting jetties for protGctirl~ tho 1."fllterfront on the
A t1aniiic Oooan in said 01 ty a:jair.s t actilm~3 of tho soa ~300, 000 matur-
in~ ~15,OOO A. D. 1927 to 1946, inc~lsivo.
:ilo!' cons truc"GinS n 8 i t;{ Hall an.l rnnchi:lo Dhc)ll and waroho use for
/ the wator il!ld sewer de-part;!1ont ~?390.000 maturinc; ~,iJ.9,OOO ,L\... D. 1927
l
to 1941 inclusive and ~21,OOO A. D. IJ42 to 194G, inclusive.
J.i0.QTI9JT FOJill: fi'ha tall o:!? the bOll(l:> :lo:.."e i:'l un thoI' izod shall be
in thclc1012ominations of ~l.OOO and ~:)hal1 be dCfJigtlated. IIPublic ImpI'ove-
]"1' mont .oonc1s11 and ahall be alike in f 01':11, oxeop t as to du to of maturities
and. nurnoc:r:J, und that the form 0 f Daid bonds, coupons and registration
endorBo::10nt, as well as the manner of oxecution 0 f Gllid bonds !md
coupons 8nd rcrtificate of validation 3ha11 be suh~t~ntially as follows
No.
%il,OOO.OO
UNI'l~gD STATE3 OP .AI,EHICA
Sl'ATg 0]' PliJ:UDI'.., CDUWi.'Y O}~ DAD~
CITY OP LlI~U 13~.ACH
PUBLIC nIP _..'.)Vi.;,~,a'J'l.r J.;o~r.os
lmow ALL Lli-,:U BY 'PHi~S3 }?:mSl~N'.2S, f2hl1 t tho Ci t;y~ of l.Iiam i Beach,
.b110r lda, in the Goun ty 0 f .!Jade and ~3tlJ. !.if) of 1)'101' ida, is jus tly indebt-
ed 8.:1(1 fo:c value recoivod. hm,'el)y pro:11lSCf3 to })ay to the bearer, or
if rOBis.tared. to t1H) reglstere(l Ofme:c 1;horoot'. on tho first da.y of
l1o.rc~h. 19 ,tho -or1nc11Ja.l fill'll of Ono 'jlh()ll~~n.:l(l Dollars ',7ith i.nterest
-- ..... .....
theroon at th'J rate of __ per cnnt:!o:r anntL.l, YJ8.;lCllJlo somi-annu8.11y,
on tho first day (:3 of' March and ~ept8mb()r in oach year, upon the pro-
sontation and surronder of the annexod intor(33t CouIJons as they sever-
ally beCO,ni;} due. Hath the principal and into:rost ot' this bond are
II'
pay~bla in gold coin of the United stutes of tho pro~ont standard
of wel.p,ldj aacl finEh18GS at the office ot' tho united states l.lortgage
.$.; 'l'J:LWt IJonl])i..ln:1 ill tho IJi ty 0 f Hew Yor;..:. .r.'Ol' 1,ho prompt paymont
horoof, both pr:i.ncipal and inter.oGt. :li3 tn.) EI1!!lO 8h8.J.1 beco:ne due,
tho L'ul1 :f'u, i. th, cred,i t ul1(l :rosou::cces of sa.}<l I;ity of :.Ii.r'.m1 Beach,
.1!'lor.l.da, 1..1.1.'0 hereby il'rovocably pled';od.
'J.!hi:3 llOnd hi one o~f' a series i::i3ued by said 01t;, of Ilinmi
Iloach. J!'1or~i.(1[)... for tho purpooo of ]laying tho C08t~:; o:~ ccn.'tain pc:r-
rnanent muni c ipal impr aVOIDant sand rmll1icipal e quip:n ant as set forth
on tho reverse of this bond, under tho authol' i ty 0 f and in full com-
p lianen wit ,"1 tho Ui ty chm:' ter and hn.8 'bo on o.utilO'cizcj(l by tho vote 0 f
tho majority of tho duly rogistered [;,)1(1. qunlif'iocl oloctors of said
01 t:r who aT i) :freaholdez-s theroin ancl v/ho arc O\'lGors of and pay taxes
on 1'00.1 01:' ~le~i:'s onal property wi thin ,mill U1 "'cy. vat in::; at an elect ion
losul1y called and hold for that purpose.
It is hereby certified and recitod that all acts, conditions
and things re qui:red to o:;dst or to bo dona procedont to and in the
issuan.ce of this bond by said charter und the laws and constitution
of J:!'lol'iJ.a. have happened. exist and have been porfol'.nod; that pro-
vis ion has boen made for the levy anll colloe tion of n. direct annual
tax upon all t!:),xable p~:operty within said city suL-'icient to pay the
interest and principal of this 00,"[(1 an the 8ft'']!) 8h8.11. become due and
that the total indebtedne:3s of said lJity inclu.din,~ this bond does not
exceed any constitutional or statutory limitation thDreon.
11h19 bond maJ be registered as to )1r i.'1.cipal in accordance with
the provisiJllS endorsed hereon.
IN VI ri.llri~f)S W..ID~l~E:OF tho sulcI Ui ty o:f ~.uaf.1i l)oao11. .t!'lor ida, has
cau.sod this lJond to 1){) sir;nocl by ita ;,~ayor n.nd lJit:T U1Gr~:, under its
soal ai1d tho intero:Jt coupons attacho(l horoto. to 1;0 ~1i~necl with the
facsimile oi8nature of said. Ula:L'}:, all as 0 f tho f i:l':Jt day of Uaroh,
A. 1). 1926.
l.Iuyo::c
Ci t.'! Ule:rlc
I I
EUDORSBl!IENT CONC3RHIHG VAL I DA'r ION
_, 1______
Validated and confirmed by decrae of the Circui t Court for
the l'Jleventh .rud icial Cireui t 0 f tho ::>ta te of b'lo :cidu, in and for
Dad.e Uaunty on
1926.
Clerlc of L:ircllit Cl)U.:r.'t, J.!lleventh
Judicial Circuit, Dade eounty,
.l!'lo:c ida.
llliPORSEL1ENT CqpC.ERNING REGISTnATI.Ql!
This bond may be registered as to principal in the bond regis-
tor of said Uity. notation of such registration to be made hereon
by the Uity Clerk or such other officer or agent as may be designated
Registrar by a resolution of the governing body of said eity and may
thoreafter be transfe:cr ad on such regis"ter by the reg iatered owner in
person or by attorney, upon presentation to the bond registrar, ac-
W companio(l by delivery of a written instrument of transfor in a.form
approved by the bond registrar and executed by the registered owner.
Such trans for may be to bearer, after which this bond shall be subject
to succo:3s1ve registration and transfers as before. :Notwithstanding
the regist~~ation of this bond the coupons shall rema.in payable to
bearer and will be transferable by del i very.
Vate of ~egistration
Name of Hegistered
Owno 1.. .
.rlegistrar
.!iEQ.T~Ol{ IH~~: That after tho pro]Jaration of said bonds with
proper maturities as provided by this rosolution the said bonds and
couI,ons annexed. thore to shall "be s tu..'lpo(l vd th the numl) ere 1 to 1,355
inclusive in the order of maturities, the nixty-nino bonds maturing
in 1927 to bear the numbers 1 to 69, inclm',ivo a11(l tho G9 bond."3 matur-
ing in 1928 to beur the next successive numbors 70 to 138, inclusive,
and 80 on, and that thereupon there shall l}o uSGiGnocl to the bonds
f I I
'-""'h."'V.~frl>'
w
for the constructing and equiping a. plant fOl' neutralizing and d i8-
posing of sewage ths lowest nwnbers of bonds havins the maturities
herein dosignated for such bon~. ufter which there shall be assigned
to tho remaining nine classes of bonds in tho ardor in which said
bondo are desc~ibed in Section Throo hereof. the lowest available
numl)crs of bonds having the maturities designated for such classes
:l.'espocti va ly, and on the reverse of each bond there shall be printed
a statement showing the amounts, numbers and'maturities of such ten
classes of bonds and a copy of such statement shall be recorded in
the bond record of said City; that the purpose of the provision made
by this Section is to place said ten issues of banda in more market-
able form and to save the expense that would be necessitated by print-
ing ten different forms of bonds and to simplify the records of said
City. at the same time preserving complete separation and identifi-
cation of ea.ch of suid ten distinct issues of bonds.
SE,CTION S,IX: That in each year while any 0 f said bonp.s shall
be outstanding there shall be levied on all the taxable property
within said City, a direct annual tax sufficient to pay the princi-
pal and interest falling due in the following year upon each of the
said ten classes of bonds which taxes shall be collected as other
City taxes and shall bo used for no other purpose tlmn the payment
of said principal and interest.
SECT~ON SEVEN: That the City Attornoy is hereby authorized,
but not required to proceed to have said bOilds vulidnted in the na'Ile
of said 01 ty by tho Circuit Cl)Urt but in thl3 event he does not ao
proceed. then the val.idntion endorsement:lCroin providecl to be printed
on said bonds, ahall not be printed.
SELCTl91Ui!91f~: That the City Clerk untl Ci ty Attorney take such
steps as may be ~eccssa:ry to effect an early sale und delivery of
said bonds and for that purpose the City Clerk is hereby authorized
und dh'f3cted 'to advertL-;e for soaled b ids for the 8HG1'3.
l.;.....:,.,)...:
" . <':i".,\~...:,lii:'~";<,'i':"';' ';':, .-:j"
.i'.c,', "."'i.',.;".,,,,:,''''''''''l!Ii>~1'I''/t<~'.w,;..,
: .. I I
~~~o~ ~INE: That Resolution No. 1093, passed and adopted
by this lHty Counoil August 1, 1:l25, 8'.1titled "A Resolution of the
City Council of the City of Miami Beach, Flol'tda, canvassing the
returns of an election held July 31, 1025 and Authorizing the is-
suance of ~1,355,000 of Public Improvement .Bonds of sald City,"
be and the Game is hereby repealed.
SBCTIOH T'r~n: That this resolution SAA1I be in force and ef-
-~---_.~.... ...........
feet ir::mlOdiately upon its adoption.
PASSED AND ADOP~D this 24th day of ~ebruary, A. D., 1926.
/7
(// ..) ~' /' ~ ~~'C':'> I
.)< "o---~? 7 r ( - c J. ----r
/ P:l:'esident of '1 t'y ouncil
ATTEST:
,''J'' ~""2""'''- Z"-"~ /~ ..
(' '(YI_~ . ,-"C-vt:,..<_L;.:','.(.:.<t"......-l .....",...,.~.~..
". ~i ty Clerk '
iW
I
'Ji i