Resolution 2234 • RESOLUTION NO. 2234
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF MIAMI BEACH, FLORIDA,
AUTHORIZING THE ISSUANCE OF 0.45,000.00
OF PUBLIC IMPROVEMENT BONDS.
WHEREAS, the City Council of the City of Miami Beach,
Florida, on February 6th, 1930, passed a resolution author-
izing the issuance of $ 145, 000.00 of Public Improvement
Bonds in the sums and for the nurposes hereinafter set forth,
subject to the authorization of the duly registered and aual-
ified voters of said City who are freeholders therein, at a
special election which said resolution directed to be held
on March 11th, 1930, and
WHEREAS, the said City Council on March 12th, 1930,
canvassed the returns of the aforesaid election and found
that the majority of the votes cast upon the bonds to be
F
issued for such purposes were in favor of said issue and
declared the result of said election and canvass.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF MIAMI BEACH, FLORIDA, AS FOLLOWS :
SECTION 1. That pursuant to said election $145,000.00
of negotiable coupon bonds of the City of Miami Beach, Flor-
ida, be issued bearing date May 1, 1930, and bearing inter-
est at a rate to be hereinafter determined, not exceeding
6% per annum, payable semi-annually, on the first days of
May and November in each year, which interest shall be evi-
denced by coupons attached to the principal bonds and both
principal and interest shall be payable in gold coin of
the United States of the present standard of weight and
fineness at the Chemical Bank & Trust Company, in New York
City, which bonds shall be registerable as to principal in
accordance with the endorsement which this resolution di-
. .
rects to be printed on said bonds and that the City Clerk
of said City is hereby designated Registrar for that pur-
pose.
SECTION 2. That said bonds shall comprise two dis-
.
tinct classes, each class distinct from the other class
by the numbers assigned thereto as is hereinafter in this
resolution provided, and that the amount, purpose of is-
suance and maturities of each class shall be as follows,
the day and month of all maturities to be the first day
of May in the respective years stated:
(a) For the purpose of constructing bridges across
waterways within said City, $ 70,000.00, maturing $ 1,000.00v,
A. D. 1932; $ 1,000.00 A. D. 1934 to 1936, inclusive;
$ 2,000.00 A. D. 1937 to 1940, inclusive; $ 4,000.00 A. D.
1!
1941 and 1942; $ 5,000.00 A. D. 1943 to 1945, inclusive;
$ 6,000.00 A. D. 1946 and 1947; $ 7, 000.00 A. D. 1948; and
$ 8,000.00 A. D. 1949 and 1950.
(b) For the purpose of extending and developing its
waterworks system, $ 75,000.00, maturing $ 1, 000.00 A. D.
1931; $ 1,000.00 A. D. 1933 to 1935, inclusive, $ 2,000.00
A. D. 1936 to 1938, inclusive, $ 3,000.00 A. D. 1939 and
1940, $ 4,000.00 A. D. 1941 and 1942, $ 5,000.00 A. D.
1943 and 1944, S 6, 000.00 A. D. 1945 and 1946, $ 7, 000.00
A. D. 1947 to 1949, inclusive; and $ 8,000.00 A. D. 1950.
SECTION 3. That all of the bonds herein authorized
shall be in denominations of $ 1, 000.00 each and shall be
designated "Public Improvement Bonds" and shall be alike
in form except as to the dates of maturities and numbers,
and the form of said bonds, coupons and registration en-
dorsement , as well as the manner of execution of said
bonds and coupons and certificate of validation, shall
be substantially as follows:
No. $ 1,000.00
UNITED STATES OF AMERICA
STATE OF FLORIDA, COUNTY OF DADE
CITY OF MIAMI BEACH
PUBLIC IMPROVEMENT BOND.
KNOW ALL MEN BY THESE PRESENTS, That the City of Miami
Beach, Florida, 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 own-
er hereof, on the 1st day of May, 19 ___, the principal sum
of
1
ONE THOUSAND DOLLARS
with interest thereon at the rate of per cent, per
annum, payable semi-annually, on the first days of May
and November in each year, upon the presentation and surren-
der of the annexed interest coupons as they severally be-
come due. Both the 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 office of the
Chemical Bank & Trust Company, 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 hereby irrevoca-
bly pledged.
This bond is one of a series issued by said City for
the purpose of paying the cost of certain oermanent muni-
cipal improvements as is set forth on the reverse of this
bond, under the authority of and in full compliance with
the City Charter, and has been authorized by a vote of the
majority of the duly registered and Qualified voters of
said City, who are freeholders therein, voting at an elec-
tion legally called and held for that purpose.
It is hereby certified and recited that all acts,
conditions and things reouired 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;
_ ,
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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 limita-
tion thereof. This bond may be registered as to princi-
pal in accordance with the provisions endorsed hereon.
IN WITNESS WHEREOF the said City of Miami Beach,
Florida, has caused this bond to be signed •by its Mayor
and City Clerk and its corporate seal to be affixed, and
the interest coupons attached hereto to be signed with
the facsimile signature of said Clerk, all as of the
1st day of May, A. D. 1930.
Mayor.
City Clerk.
COUPON.
NO.
On 1, 19 , the City of Miami
Beach, Florida, will pay to the bearer at the Chemical
Bank & Trust Company, New York City, the sum of
Dollars, in gold coin as
provided in and for the interest then due on its Public
Improvement Bond, dated May 1, 1930, and numbered
City Clerk.
ENDORSEMENT CONCERNING VALIDATION.
Validated and confirmed by decree of the Circuit
Court for the Eleventh Judicial Circuit of the State of
Florida, in and for Dade County, on
9 3 o.
Clerk of the Circuit 5701-371- 6T
the Eleventh Judicial Circuit
for Dade County, Florida.
r - NIM1.01111••••••111.111mosem....... -------..."---
REGISTRATION AS TO PRINCIPAL ONLY
This bond may be registered as to principal in the
bond register of said City, notation of such registration
to be made hereon by the City Clerk, or by such other of-
ficer or agent as may be designated Registrar by resolu-
tion of the Roverning body of said City and may thereaf-
ter be transferred on such register by the registered own-
er in person, or 'by attorney, upon the presentation to the
Bond Registrar, accompanied by delivery of a written in-
strument of transfer in a form approved by the bond Regis-
trar and executed by the registered owner; such transfer
i may be to bearer, after which this bond shall be subject
to successive registration and transfer as before . Not-
withstanding the registration of this bond, the coupons
shall remain payable to bearer and shall be transferable
by delivery.
Date of Registration. Name of Registered Owner. Registrar.
,
SECTION 4. That after the preparation of said bonds
with proper maturities as provided by this resolution, the
said bonds and coupons annexed thereto shall be stamped
with the numbers 1 to 145, inclusive , in accordance with
the following schedule, which schedule shall be printed on
the reverse of each of said bonds:
MATURITIES, PURPOSE AND NUMBERING SCHEDULE
DUE $ 70,000.00 $ 75,000.00
BRIDGES WATERWORKS
A B
1931 . . . . . . 1 '
1932 2
19333
1934 1.-[• • • • . 5
1935 6 7
1936 8 9 and 10
1937 11 and 12 l3 and 14'
1938 15 and 16 17 and 18
1939 19 and 20 21 to 23 :
1940 2 and 25 26 to 28
ii:;',',4.,;;.",a':::;e:.:::.(:0-7:A7:4,,,,I:::::,:‘ , '::':,:.:1.:',:,'1,4' iltiia : -1 .::: .:;,,,,'- ',,,,,ailio' . '' ,i'i'f.,:..__‘ _..:::'. -..:::‘:Y.,:,[•.,,;:..;,'!c',,I;;::1'1.:',,, ?': ::.,-:- ,' ::.=1-,-.,,,,,,, , '', .',1 ::y.'.'„:,,i2;,.:::':..:.':, .
1941 29 to 32 33-7to 36
1942 37 to 40 41 to 4 -
1943 45 to 49 50 to 54
1944 55 to 59 6o to 64
1945 65 to 69 70 to 754 '
1946 76 to 81 82 to 87
1947 88 to 93 94 to loo
1948 101 to 107 108 to 114
1949 115 to 122 123 to 129
1950 130 to 137 138 to 145
That the purpose of the provision made by this Section is
to place said two issues of bonds in more marketable form
and to save the expense that would be necessitated by
printing two different forms of bonds, and to simplify the
records of said City, at the same time preserving complete
separation and identification of each of said two distinct
issues of bonds.
SECTION, . That in each year while any of said bonds
shall be outstanding, there shall 'be levied on all of the
taxable property within said City, a direct annual tax suf-
ficient to pay the principal and interest falling due in
the following years upon each of the said two classes of
bonds, which tax shall be collected as other City taxes
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,
but not required, to proceed to have said bonds validated in
the name of said City by the Circuit Court of said County,
but in the event he does not so proceed, then the validation
endorsement herein provided to be printed on said bonds
shall not be so printed.
SECTION 7. That the Mayor and City Clerk execute said
bonds and affix the seal of said City thereto and that they
and the City Attorney take such steps as may be necessary to
effect an early sale and delivery of said bonds.
SECTION 8. That this resolution shall be in force
and effect immediately upon its passage and adoption.
1111.
PASSED AND ADOPTED this 12th day of March, A. D.
1930.
President of qty Council
A
ATTEST:
City Clerk
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