13482 RESOLUTION NO. 13482
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING
THE ISSUANCE OF NEGOTIABLE COUPON BONDS
IN THE AMOUNT OF $10, 500, 000 FOR THE
PURPOSE AUTHORIZED AT AN ELECTION HELD
ON NOVEMBER 2, 1971.
WHEREAS, the City Council of the City of Miami Beach,
Florida, by Resolution No. 13391, adopted on the 15th day of
September, 1971, authorized the issuance of negotiable coupon
bonds of the City of Miami Beach for the purpose and in the
amount therein stated, in amount $10, 500, 000 subject to the
approval and authorization of the duly registered and qualified
voters of said City participating in the special election which
said Resolution directed to be held on November 2, 1971, and
WHEREAS, the said City Council on November 3, 1971,
canvassed the returns of the aforesaid special election and
has found that the issuance of said bonds in the aggregate
amount of $10, 500, 000 had been approved by a majority of those
voting on the said matter, to wit :
"Shall the City of Miami Beach, Florida,
issue negotiable coupon bonds in the amount
of $10, 500, 000, with interest at a rate to
be hereafter determined and not exceeding
8% per annum, for the purpose Of installing,
extending, constructing and reconstructing
all necessary facilities for the collection
of sewage and waste water in the City of
Miami Beach, and tributary areas, and for
the transmission thereof to a new sewage
treatment plant on Virginia Key to be
constructed as a joint project by the City
of Miami Beach, the City of Miami and the
City of Miami Department of Water & Sewers?"
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF MIAMI BEACH, FLORIDA:
SECTION 1. That pursuant to said election, $10, 500, 000 of
negotiable coupon bonds of the City of Miami
Beach, Florida., be issued bearing the date of February 1, 1972,
and bearing interest at a rate to be hereafter determined, not
exceeding 8% per annum, payable semi-annually, on the first
day of August and February of each year, which interest shall
be evidenced by coupons attached to the principal bonds, and
both principal and interest shall be payable in lawful money
of the United States of America at the Chemical Bank, New York
City, which bonds shall be registrable as to principal in
accordance with the endorsement which this Resolution directs
to be printed on said bonds, and that the Chemical Bank, New
York City, is hereby designated Registrar for that purpose.
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OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
SECTION 2. Said bonds shall be issued in One (1) Series,
and in the amount as follows :
SERIES 1 : For the purpose of installing, extending,
constructing and reconstructing all
necessary facilities for the collection
of sewage and waste water in the City of
Miami Beach, and tributary areas, and
for the transmission thereof to a new
sewage treatment plant on Virginia Key
to be constructed as a joint project
by the City of Miami Beach, the City of
Miami and the City of Miami Department of
Water & Sewers.
SERIES 1 shall be in the principal amount of $10, 500, 000
and shall be known as "1972 Sewage Collection and Treatment
Bonds" and shall be numbered and mature as follows :
AMOUNT MATURING NUMBERED
Feb. 1
$ 100, 000 1973 1 - 20
100, 000 1974 21 - 40
100, 000 1975 41 - 60
200, 000 1976 61 - 100
300, 000 1977 101 - 160
300, 000 1978 161 - 220
300, 000 1979 221 - 280
500, 000 1980 281 - 380
500, 000 1981 381 - 480
500, 000 1982 481 - 580
500, 000 1983 581 - 680
500, 000 1984 681 - 780
500, 000 1985 781 - 880
500, 000 1986 881 - 980
700, 000 1987 981 - 1120
800, 000 1988 1121 - 1280
900, 000 1989 1281 - 1460
900, 000 1990 1461 - 1640
1100, 000 1991 1641 - 1860
1200, 000 1992 1861 - 2100
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OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
SECTION 3. That said bonds shall be callable for redemption
as shall be hereafter determined by Resolution
to be adopted by the City Council. Notice of such intended
redemption in each case shall be published at least once,
at least thirty (30) days prior to the date of redemption,
in a financial journal published in the City of New York,
New York. Interest shall cease to accrue on any bonds so
called for prior redemption on the redemption date if adequate
funds have been duly provided for the redemption thereof.
SECTION 4. That all of the bonds herein authorized and
referred to in Section 2 of this Resolution, shall
be in the denomination of $5, 000.00 each, and shall be designated
"1972 Sewage Collection and Treatment Bonds, " followed by a
brief description of the purpose, as hereinabove provided, and
shall be alike in form, except as to statement of Series,
purpose, and the dates of maturities and numbers, and the form
of said bonds, coupons and registration endorsement, as well
as the manner of execution of said bonds and coupons, and
certificates of validation shall be substantially as follows :
No. UNITED STATES OF AMERICA $5, 000.00
STATE OF FLORIDA, COUNTY OF DADE
CITY OF MIAMI BEACH
PUBLIC IMPROVEMENT BOND
(Here insert Series No. and statement of purpose)
KNOW ALL MEN BY THESE PRESENTS, that the City of
Miami Beach, in the County of Dade, and State of Florida, is
justly indebted, and for value received, hereby promises to
pay to the bearer, or if registered, to the registered owner
hereof, on the 1st day of February, 19 , the principal
sum of
FIVE THOUSAND DOLLARS
with interest thereon, at the rate of percent per annum,
payable semi-annually, on the first day of August, and the
first day of February in each year, upon the presentation
and surrender of the annexed interest coupons as they severally
become due. Both the principal and interest of this bond are
payable in lawful money of the United States of America, at
the office of Chemical Bank in the City of New York. For the
prompt payment hereof, both principal and interest, as the
same shall become due, the full faith, credit and resources of
said City of Miami Beach are irrevocably pledged.
IIII This bond is one of a series of like tenor, date
and amount, but maturing at different times, issued by said
City for the purpose of paying the cost of certain Public
Improvementsin the City of Miami Beach, Florida, as stated
in the caption hereof, and more particularly described in
Resolution No. 13391 of the City Council of said City, passed
and adopted on September 15, 1971, under the authority of, and
in full compliance with the Constitution and Statutes of the
State of Florida, including Chapter 100, Florida Statutes,
and the City Charter, being Chapter 7672 of the Laws of Florida
of 1917 and Acts amendatory thereof, and supplemental thereto,
and has been authorized and approved by a majority of those
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OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
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voting in said special election, which said election was called
and held, and the result declared and recorded in the manner
prescribed by law.
(Insert redemption provisions determined by subsequent
Resolution)
It is hereby certified and recited that all acts,
conditions and things required to happen, exist, or to be done
precedent to, and in the issuance of this bond by said Charter
and the Laws and Constitution of the State of Florida, have
happened, exist and have been performed; that provision has
been made for the levy and collection of a direct annual tax
upon all taxable property within said City, sufficient to pay
the interest and principal of this bond as the same shall
become due, and that the total indebtedness of said City,
including this bond, does not exceed any constitutional or
statutory limitation thereof. This bond may be registered as
to principal, in accordance with the provisions endorsed
hereon.
IN WITNESS WHEREOF, the said City of Miami Beach,
Florida, has caused this bond to be executed by its Mayor and
attested by its City Clerk and Finance Director (the facsimile
signatures of said Mayor and City Clerk and Finance Director
being imprinted or reproduced on this bond, and on the
validation legend appearing hereon, provided that at least
one of said officers shall manually apply his signatures on
said bond) ; and the corporate seal of said City has been
impressed or imprinted hereon, and the interest coupons hereto
attached, executed by said officials, by their facsimile
signatures, all as of the first day of February, 1972 .
Mayor
Attest :
City Clerk-Finance Director
Form of Coupon
No. $
On the 1st day of , 19 , the City of Miami
Beach, Florida, will pay to the Bearer at the Chemical Bank,
New York City, New York, the sum of Dollars
($ ) in lawful money of the United States of America,
as provided in and for the interest then due on its Public
Improvement Bond, Series , dated the 1st day of February,
19 , and numbered
Mayor
Attest :
City Clerk-Finance Director
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OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
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ENDORSEMENT CONCERNING VALIDATION
This bond is one of a series of bonds which were
validated and confirmed by decree of the Circuit Court of the
Eleventh Judicial Circuit of the State of Florida, in and for
Dade County, rendered on , 19
ENDORSEMENT CONCERNING REGISTRATION
This bond may be registered in the name of the holder
on the books to be kept by the Chemical Bank, as Registrar, or
such other Registrar as may hereafter be duly appointed, as to
principal only, such registration being noted hereon by such
Registrar in the registration blank below, after which no
transfer shall be valid, unless made on said books by the
registered holder or his attorney, duly authorized and similarly
noted, in the registration blank below, but it may be discharged
from registration by being transferred to bearer, after which
it shall be transferable by delivery, but it may again be
registered as before. The registration of this bond as to
principal shall not restrain in the negotiability of the coupons
by delivery merely, but the coupons may be surrendered, and
the interest made payable only to the registered holder, in which
event the Registrar shall note in the registration blank below
that this bond is registered as to interest, as well as principal,
and thereafter, the interest will be remitted by mail to the
registered holder. With the consent of the holder, and of the
City of Miami Beach, this bond when converted into a bond
registered as to both principal and interest, may be reconverted
into a coupon bond, and again converted into a bond registered
as to both principal and interest, as hereinabove provided.
Upon reconversion of this bond, when registered as to principal
and interest into a coupon bond, coupons representing the
interest to accrue upon this bond to date of maturity shall be
attached hereto by the Registrar. The Registrar shall note
in the registration blank below whether this bond is registered
as to principal only, or payable to bearer.
DATE OF REGISTRATION NAME OF REGISTERED OWNER REGISTRAR
SECTION 5. That in each year while any of the bondsreferred
to in Section 2 of this Resolution shall be out-
standing, there shall be levied on all of the taxable property
within said City, a direct annual tax sufficient to pay the
principal and interest falling due in the following year upon
said bonds, which tax shall be collected as other City taxes are
collected, and shall be used for no other purpose than the
payment of said principal and interest.
SECTION 6. That the City Attorney is hereby authorized and
directed to proceed in the name of said City to
have said bonds validated by the Circuit Court of Dade County,
Florida.
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OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
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SECTION 7. That said bonds shall be executed in the name of
the City by the Mayor, and attested by the City
Clerk and Finance Director, one of which signatures may be a
facsimile signature, and shall have affixed thereto, or printed
1 or reproduced thereon, the corporate seal of the City. In case
any one or more of the officers who shall have signed or sealed
any of the bonds shall cease to be such officer of the City
before the bonds so signed and sealed have been actually sold
1 and delivered, such bonds may, nevertheless, be sold and
delivered, as herein provided, and may be issued as if the
person who signed or sealed such bonds had not ceased to hold
such office. Any bond may be signed and sealed on behalf of
the City by such person, as at the actual time of the execution
of such bonds shall hold the proper office in the City, although
at the date of such bonds such person may not have held such
office, or may not have been so authorized.
The coupons to be attached to the bonds shall be
authenticated with the facsimile signatures of the present,
or any future Mayor and City Clerk and Finance Director, and
the City may adopt, and use for that purpose, the facsimile
signature of any of said persons who shall have been such
officers at any time on or after the date of the bonds not-
withstanding that they may have ceased to be such officers at
the time when said bonds shall be actually sold and delivered.
SECTION 8. That this Resolution shall be in force and effect
immediately upon its adoption.
PASSED and ADOPTED this 8th day of December , 1971.
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Mayor
Attest :
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City Clerk-Finance Director
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OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139