Resolution 1021 mem
RESOLUTION NO. 1021
A RESOLUTIONOF THE CITY COUNCIL OF
THE CITY OF MIAMiI BEACH DIRECTING
NOTICE FOR TEE SALE OF $2840000
PUBLIC IMPROVEMENT BONDS AUTHORIZED
BY RESOLUTION N0. 997 AND $655,000
IMPROVEMENT BONDS, SERIES 'I", AUTHOR-
IZED BY RESOLUTION NO. 1020.
BE IT RESOLVED by the City Council of the City f
of Miami Beach, Florida:
Section 1. That the City Clerk is hereby directed
to publishat least ten days before the date for receipt of
bids hereinafter stated, in the Miami DailyDTew's and Metropolis,
a newspaper published in the City of Miami, Florida, a notice
calling for bids for $284,000 Public Improvement Bonds
authorized by Resolution o. 937, and $655,000 Improvement
Bonds, Series °I°, authorized by Resolution No . 1020 , and is
authorized to publish such notice in some financial journal
or journals published in Tel. York City, ,.^rhich notice shall
be in substantially the following form:
$939,000
CITY OF MIAMI' BEACH, FLORIDA
GOLD BONDS
Sealedbids will be received by the City Council,
addressed to the undersigned and marked 'Proposal for Bonds',
until 5 o' clockP. I� . , June 1st, 1025, for the
following bonds of the City of Miami Beach:
$284,000 Public Improvement Bonds, maturing annually
April 1, $31,000 1926, $21,000 1927, $19,000 1928 and 1929,
$9,000 1930 and 1931, $8,000 1932 to 1934, inclusive,
$20,000 1935, $18,000 1936, $13,000 1937 to 1942, inclusive,
and $12,000 1943 to 1945 inclusive.
$655,000 Improvement Bonds, Series °I°, maturing
annually, April 1, $35,000 1927 to 1929, inclusive, $15,000
1930, $34,000 1931 and 1932, $35,000 1933 to 1935,. inclusive,
$45,000 1936 to 1941, inclusive and $23,000 1942 to 1945,
CHESTER B. MASSLICH, COUNSELOR AT LAW, 120 BROADWAY, NEW YORK
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No option Of prior payment. All bonds dated
April 1, 1925. Principal and interest (5-1/4% A and 0 1)
payable in New York City in gold; denomination $1000;
registrable as to principal; general obligations; unlimited
tax.
Legal opinion of Chester B. Masslich, Esq. ;
certification of bonds by United States Mortgage & Trust
Company, Kew York City.
Bids must be upon a printed form which, with
additional information as to the City, the bonds and the
conditions of bidding, including requirement for certified
check of $18,780, will be furnished by said Trust Company
or the undersigned.
The right to reject any and all bids is reserved.
City Clerk
Section 2. That the City Clerk shall cause to
be printed a prospectus containing statistical matter, a
form upon v,�hich bids must be made, and a notice calling for
bids for said bonds, which notice shall be in tiubstantially
the following form:
$939,000
CITY OF MIAMI BEACH, FLORIDA,
GOLD BONDS .
Sealed bids will be received by the City Council,
in care of the undersigned, until 5 _ o 'clock P.M. ,
— June_ 1st,__ ____,_ _1925,
for the following bonds of the City of Miami. Beach:
$284,000 Public Improvement Bonds, maturing annually
April 1, $31,000 1926, $21,000 1927, $19,000 1928 and 1929,
iI $9,000 1930 and 1931, $8,000 1932 to 1934, inclusive,
$20,000 1935, $18,000 1936, $13,000 1937 to 1942, inclusive,
and $12,000 1943 to 1945 inclusive.
-2-
CHESTER B. MASSLICH, COUNSELOR AT LAW, 120 BROADWAY, NEW YORK
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annually, April 1, 035,000 1927 to 1929, inclusive, 015,000
1930, $34,000 1031 and 1932, 035,000 1933 to 1935, inclusive ,
$45,000 000 19 36inclusive,
.3 to 1J41, and $23,000 1942 to 1945,
inclusive.
No option of prior payment . All bonds dated
April 1, 1925; denomination 01000; principal and semi-
annual interest ( 5-1/4 ' A and 0 1) payable in New York City
in gold; coupon bonds with privilege of registration as
to principal only; general obligations; unlimited tax.
The Public Improvement Bonds here offered comprise
nine issues separately voted, each bond containing a recital
showing the particular public improvement for 7hich it is
issued. The amounts and maturities, with a brief statement
of the purposes of issuance, are:
$75,000 for paving streets, $8000 1926, 03000
1927 02000 1928 and 1929, $1000 1930 to 1934
and $5000 1935 to 1945, inclusive.
$20,000 for paying the City 's share of the cost
of constructing sanitary sewers, 01000 1926 to
1945, inclusive.
$17,000 for paying the City 's share of the cost
of constructing storm sewers, $1000 1926 to
1942,, inclusive.
$20,000 for constructing sanitary sewers, 01000
1926 to 1945, inclusive.
$6,000 for developing and improving public parks,
1000 1926 to 1934 inclusive,
$75,000 for purchasing real estate for erecting
thereon a machine shop and storage building for
street and sewer departments, $8000 1926,
03000 1927, 02000 1928 and 1929, $1000 1930
to 1934 and $5000 1935 to 1945, inclusive.
$30,000 for equipping Sanitary Department with a
barge and motor truck, $5000 1926 to 1929,
$1000 1930 to 1934, all inclusive, and $5000
1935.
$30,000 for equipment for fire station and for
installation of fire alarm boxes, $5000 1926 to
1929, $1000 1930. to 1935, all inclusive, and
$4000 1936.
$11,000 for paying City 's share of cost of con-
structing a bulkhead in Indian Creek, a waterway
within said City, $1000 1926 to 1936,inclusive .
CHESTER B. MASSLICH, COUNSELOR AT LAW, 120 BROADWAY, NEW YORK
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The Improvement Bonds, Series "I", compr. ise one
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issue for street, sidewalk, sanitary sewer, storm sewer
andbulkheadimprovements, not voted. Bonds for local j
improvements (the cost of local improvements is largely
paid from special assessments) may be issued without an
election.
These bonds will be prepared under the supervision.
of the United States Mortgage & Trust Company, New York City,
which will certify as to the genuineness of the signature
of the officials and the seal impressed thereon. Purchaser
will be furnished approving legal opinion of Chester B.
Mass lick, Esq., New York City.
Bids are required on forms which will be furnished
by said Trust Company or the undersigned and must be enclosed
in a sealed envelope marker *Proposal for Bonds', and be
accompanied by a certifiedcheck for y 18,'780, payable to the
order of the City Clerk anddrawn upon an incorporated bank
or trust company. The bonds will be delivered at place
of purchaser ' s choice on or about June 10th, 1925. The
right to reject any and all bids is reserved.
City Clerk.
Section 3. That this resolution shall be in
full force and effect immediately upon its adoption.
PASSED AHD ADOPTED this 11th day of May,A.
i 1
'resl•.ent ,of the City Council
Attest :
Le
City Cerk
CHESTER B. MASSLICH, COUNSELOR AT LAW, 120 BROADWAY, NEW YORK
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