Resolution 372 .
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RESOLUTION NO. 372
A RESOLUTION OF THE CITY OF MIAMI BEACH,
FLORIDA, AUTHORIZING THE ISSUANCE OF
$100,000 WATER WORKS BONDS $20,000.
STREET IMPROVEMENT BONDS, :7 ,000 BRIDGE
BONDS, $65,000 SANITARY SEWER BONDS,
$10,000 STREET PAVING BONDS AND $18 ,000
STORM SEWER BONDS, AUTHORIZED BY THE RE-
GISTERED AND QUALIFIED VOTERS OF SAID
CITY AT AN ELECTION HELD IN SAID CITY
APRIL 9 , 1923.
WHEREAS, the City Council of the City of Miami Beach,
I'lorida, heretofore on March 7th, 1923, passed a resolution
authorizing the issuance of bonds for said ''ity in the sums
and for the purposes hereinafter set forth, and in said reso-
lution called a special election to be held in said Lity on
April 9 , 1923, for the purpose of submitting the several ques-
tions set forth in said resolution passed idarch 7 , 1923, to
the qualified voters of said pity, and
WHEREAS, the said City council , on April 11, 1923,
canvassed the returns of the aforesaid election and found
that a majority of the votes cast upon each of the questions
enumerated in said resolution adopted March 7 , 1923, was for
the issuance of said bonds and declared the result of said
election and canvass.
NOW, THEREFOitE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF MIAiwiI BEACH, FLORIDA:
Section 1: That the negotiable coupon bonds of the
City of Liiami Beach are hereby directed to be issued and sold
in the aggregate amount of 4100 ,000 for the purpose of extend-
ing and developing its water works system, such bonds to con-
sist of 100 bonds of ti.e denomination of 41 ,000 each, numbered
from 1 to 100 , both inclusive, dated April 1 , 1923, and matur-
ing in numerical order, lowest numbers first , 44,000 annually
April 1 , 1925 to 1934, both inclusive, and $6,000 annually
April 1 , 1935 to 1944, both inclusive.
Section 2: That the negotiable coupon bonds of the
City of Miami Beach, Horida, are hereby directed to be is-
sued and sold in the aggregate amount of 420,000 for the pur-
pose of improving its streets and avenues by constructing and
erecting permanent electric light poles and equipping sane
with permanent , ornamental electric lamps , such bonds to con-
sist of 20 bonds of the denomination of 41,000.each, number-
ed from 101 to 120 , both inclusive , dated April 1 , 1923, and
maturing in num*erica.l order, lowest numbers first , 41 ,000
annually April 1 , 1925 to 1944, both inclusive.
Section 3: That the negotiable coupon bonds of the
City of Miami beach, Yloric3a, are hereby directed to be is- •
sued and sold in thegregate amount of 47 ,000 for the pur-
pose of erecting a bridge over the water way between the main-
land and Belle Isle , within the said city, such bonds to con-
sist of 7 bonds of the denomination of 31 ,000 each, numbered
from 121 to 127 , both inclusive , dated April 1 , 1923, and ma-
turing in numberical order, lowest numbers first , 41 ,000 an-
nually April 1 , 1925 to 1931, both inclusive.
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Section 4: ghat the negotiaole coupon bonds of the
City of tdami beach, J21.orida, are hereby directed to be is-
sued and sold in the aggregate amount of 465,000 for the pur-
pose of paying the City's share of the cost of constructing
sanitary s ewers, such bonds to consist of 65 bonds of the de-
nomination of 41,000 each, numbered from 128 to 192 , both in-
clusive , dated April 1 , 1923, and maturing in numfOerical order,
lowest numbers first , 41,000 annually April 1, 1925 to 1932,
both inclusive; 03,000 annually April 1 , 1933 to 1940 , both
inclusive ; 47 ,000 annually April 1 , 1941 to 1943, both in-
elusive , and $12,000 April 1, 1944.
Section 5: That the negotiable coupon bonds of the
City of aiami Leach, elorida , are hereby directed to be is-
sued and sold in the aggregate amount of j10,000. for the
purpose of paving its streets, such bonds to consist of 10
bonds of the denomination of 41 ,000 each, numbered from 193
to 202, both inclusive, dated April 1 , 1923, and maturing
in numerical order, lowest numbers first , 41 ,000 annually
April 1 , 1925 to 1934, both inclusive.
Section 6: That the negotiable coupon bonds of the
City of iy,iami Beach, Florida, are hereby directed to be is-
sued and sold in the aggregate amount of 418 ,000 , for the
purpose of paying the City's share of constructing storm
sewers, such bonds to consist of 18 bonds, of the denomina-
tion of 51 ,000 each, numbered from 203 to 220 , both inclu-
sive , dated April 1 , 1923, and maturing in numerical order,
lowest numbers first , 41 ,000 annually April 1 , 1925 to 1942,
both inclusive.
Section 7 : That all of the said bonds, aggregating
3220 ,000 shall bear interest at the rate of 670 per annum,
payable semi-annually on the first days of April and actober
of each year, both the principal and interest to be payable
at the united states nortgage a; Trust Company, in the City
of iaew York, in gold coin of the United states , of the pres-
ent standard of weight and fineness.
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Section 8 : That all of said bonds shall be signed
by the i.isyor and City Clerk, and attested by the City Auditor,
and shall be sealed with the corporate seal , and the interest
coupons thereto attached shall be signed by said City Clerk,
whose signature upon said coupons may be in facsimile , and
said bonds and coupons shall be in substantially the following
form:
$1,000 BO.
UNITED STATES uF AMERICA
STATE OL' +'LORIDA, COUNTY OF DADE
CITY OF MIAMI BEACH
PUBLIC ILIP.aUVELL NT BOND
Bonds iso. 1 to 100 are ;dater ,'corks . onds
Bonds No. 101to 120 are bonds for constructing and erecting per-
manent electric light poles and equipping same with permanent ,
ornamental 141 t o ii47�ams bridge Bonds
Bonds Bo. 128 to 192 are Saaitary Sewer Bonds
Bonds 1ao. 193 to 202 are Street raving Bonds
bonds iso. 203 to 220 are Storm Sewer Bonds
KNOW ALL t ;N BY THESE PR~;SMS: That the City of iriiami
Beach, in the County of Dade and State of elorida, is justly in-
debted and for value received , hereby promises to pay to the
Bearer, on the first day of April , 19the principal sum of
ONE THOUSAND DOLLARS
with interest thereon at the rate of six per centum per annum,
payable semi-annually, on the first days of April and October
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in each year , upon the presentation and surrender of annexed
interest coupons as they severally become due . both principal
and interest of this bond are payable in gold coin of the United
States, of the present standard of weight and fineness, at the
United States Lortgage oc Trust company, in the city of aew York,
and State of stew York.
This bond is one of a series of 220 bonds of like date
and amount , aggregating 1220,000, and are issued bearing the
following numbers , in the following aggregate amounts, for the
following several purposes: those numbered from 1 to 100 ,
400 ,000 , for the purpose of extending and developing its water
works system; those numbered from 101 to 120 , 020 ,000 , for the
purpose of improving its streets and avenues by constructing
and erecting permanent electric light poles and equipping the
same with permanent ornamental electric lamps; those numbered
from 121 to 127 , 47 ,000 , for the purpose of erecting a bridge
over the water way between the mainland and belle Isle , within
the said city; those numbered from 128 to 192, 465,000 , for the
purpose of paying the city' s share of the construction of san-
itary sewers; those numbered from 193 to 202, 410 ,000, for
the purpose of paving its streets; and those numbered from 203
to 220 , 118 ,000 , for the purpose of paying the city' s share of
constructing storm sewers. This bond is issued unier the
authority of and in full compliance with the charter of said
city , lloinP chanter 7672, Acts of the Legislature of .Florida,
for the year 1917 , as amended, and the vote of a majority of
the duly registered and qualified voters of said city, voting
separately upon each of said six classes of bonds at a special
election, duly called and held .April 9 , 1923, and resolutions
duly passed by the city council of said city. The full fs. th,
credit and resources of said city of laiami beach are hereby
irrevocably pledged to the prompt payment of the principal and
interest hereof, as the same shall become due . it is hereby
certified and recited that all acts , conditions and things
required to happen, exist or be performed, precedent to and
in the issuance of this bond by said charter and the laws
and constitution of illorida, have happened, exist , and ha"e
been performed as so required; that provision has been made
for the levy andcollection of a direct annual tax upon all
taxable property within said city, sufficient to pay the in-
terest 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 lim-
itation thereon.
IN WITNESS HER OF , said city of .Liami Beach has caused
this bond to be signed bz its i;.ayor and city clerk, under its
corporate seal , and attested by its Auditor, and the interest
coupons hereto attached to be signed with the facsimile signa-
ture of said ,,lerk, all as of the first day o April , 1923.
baa, or
Attest :
city clerk
city Auditor
COUPON
14o. 430.
On 1 , 19
The CITY Ute' MIAMI BEACH, J±'LOiUDA,
will pay the dearer at the united states Liortgage & Trust com-
pany, iNew York city, the sum of Thirty ijollars in gold coin
as provided in and for the interest then due on its Bublic
improvement Bond dated April 1 , 1923, iao.
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Section 9: That the city Attorney is authorized but
not required to proceed to have said bonds validated , and if
they shall be validated by the circuit court , there shall be
printed or stamped the^eon a form for the certificate of the
clerk of said uourt , which form may be in substantially the
following worlds:
Validated and confirmed by decree of the circuit
court of the .eleventh Judicial circuit of the State of 21orida,
in and for Dade county, . 19
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Clerk of circuit court .eleventh
Judicial circuit , State of Irlorida,
in and for yade county. "
Section 10: That there shall be and hereby is levied
upon all the taxable property in the city of Miami beach, .lor-
ida, in each year while any of the said grater nIorks bonds,
numbered 1 to 100, are outstanding, a direct annual tax, suf-
ficient to pay the principal and interest of said dater darks
bonds as the same shall become due and payable under this re-
solution.
Section 11: That there shall be and hereby is levied
upon all the taxable property in the city of i,iiar:i -each, rlor-
ida , in each year while any of bonds for constructing and erect-
ing permanent electric light poles and equipping same with per-
manent , ornamental electric lamps , numbered 101 to 120 , are
outstanding , a direct annual tax, sufficient to pay the prin-
cipal and interest on said bonds as the same shall become due
End payable under this resolution.
Section 12: That there shall be and hereby is levied
upon all the tazaible property in the uity of iQiiami Beach, jlor-
ida, in each year while any of the bridge bonds, nutibered 121
to 127 , are outstanding, a direct annual tax, sufficient to pay
the principal and interest on said bridge bonds as the same
shall become due and payable under this resolution.
Section 13: That there shall be and hereby is levied up-
on all the taxable property in the city of Liiami beach, rlorida,
in each year while any of the Sanitary Sewer bonds , numbered
126 to 192, are outstanding, a direct annual tax, sufficient to
pay the principal and interest on said Sanitary sewer bonds as
the same shall become due and payable under this resolution.
Section 14: That there shall be and hereby is levied
upon all the taxable property in the city of Miami .each, llor-
ida, in each year while any of the said Street Paving .bonds,
numbered 193 to 202, are outstanding , a direct annual tax, suf-
fidient to pay the principal and interest of said street Pav-
ing Bonds as the same shall become due and payable under this
resolution.
Section 15: That there shall be and hereby is levied
upon all the taxable property in the uity of Miami Beach, r•lor-
ida, in each year while any of the said Storm Sewer Bonds,
numbered 203 to 220 , are outstanding a direct annual tax, suf-
ficient to aay the principal and interest of said Storm Sewer
Bonds as the same shall become due and payable under this re-
solution.
Section 16 : That the taxes herein levied and direct-
ed to be levied shall be collected as other city taxes and
shall be used for no other purpose than the payment of the
principal and interest of the bonds for which they are herein
provided, respectively.
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Section 17: This resolution shall be in force and H2O ?
effect at and after its passage and approval.
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PASSED and. ADOPTED this 18th day of April, A. D. , 1923.
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Presi• ent Ui y ounci
ATTEST:
City Clerk
APPROVED this 18th day of April, A. D. , 1923.
Mayor
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