Resolution 2257 .®..
At
RESOLUTION NO. 2257
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF MIAMI BEACH, FLORIDA:
That the proposal of The Natco Corporation of
Miami, Florida, for the bonds mentioned in that pro-
posal and which have been authorized by the City Coun-
cil, said proposal being in the words and figures fol-
lowing:
"PROPOSAL FOR BONDS
May 9th, 1930
MR. C . W. TOMLINSON,
City Clerk,
Miami Beach, Florida.
Dear Sir:
We make the following offer for bonds of the
City of Miami Beach, Florida:
For $ 256,000 Improvement Bonds, "Series M",
bearing interest at the rate of 6% per annum, dated
May 1st, 1930, maturing May 1st in each of the re-
spective years as follows: $ 5,000 - 1931; x$10,000 -
1932; 11,000 - 1933; 10,000-1934; $ 50,000 —
1935; 20,000 - 1936; 21,000 - 1937 to 1940, in—
clusive; $ 15,000 — 1941; $ 14,000 — 1942; $13,000 —
1943; $ 12,000 - 1944 and 1945, we will pay Two
Hundred Forty-Eight Thousand Three. Hundred Twenty
and no/100 Dollars ($ 248,320.00) .
For $ 19,000 Public Improvement Bonds for Ex-
tension of Water Works, bearing interest at the rate
of 6% per annum, dated May 1st, 1930, maturing May
1st in each of the respective years as follows:
1,000 - 1931; 1,000 - 1935; 2,000 - 1937;
3,000 - 1939; 4,000 - 1941; 5,000 - 1943 and
3,000 - 1945, we will pay Eighteen Thousand Four
Hundred Thirty and no/100 Dollars ($ 18,430.00) .
The above described bonds being authorized re-
spectively by Resolution No. 2230, passed and adopted
March 12th, 1930, and Resolution No. 2234, passed and
adopted March 12th, 1930, interest being payable semi-
annually, both principal and interest being payable
at the office of the Chemical Bank & Trust Company,
New York City, and said bonds to be accompanied on
delivery by the approving opinion of Messrs. Caldwell
& Raymond.
In addition thereto we will pay accrued inter-
est on the principal thereof to date of delivery and
will accept delivery at a bank in New York City.
We hand you herewith our certified check in the
amount of $ 5,500.00, being 2% of the par value of
the bonds being bid for, which check is to be returned
to us if this bid be not accepted, but otherwise to be
deposited by you and when the bonds are delivered and
paid for under the terms of this bid is to be con-
sidered as an advance part payment therefor, or is to
be retained as and for liquidated damages in case we
fail so to take up and pay for the bonds.
THE NATCO CORPORATION
By (Signed) C. B. Pepper
Assistant Vice President"
be and the same is hereby accepted and the said bonds
are hereby sold at private sale to said The Natco Cor-
poration; that this City Council by unanimous vote of
the members present, does hereby resolve to sell said
bonds at private sale and that the bid of said The
Natco Corporation is the best price deemed obtainable
for said bonds; and that such price is not less than
ninety-seven cents on the dollar and accrued interest,
and
BE IT FURTHER RESOLVED by said City Council that
both the said $ 256,000 Improvement Bonds, "Series M"
and the said $ 19,000 Public Improvement Bonds shall
bear interest at the rate of 6% per annum.
PASSED AND ADOPTED this 9th day of May, A. D.
1930.
President of City Council
ATTEST:
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