Resolution 2488 RESOLUTION NO. 2488
WHEREAS, the amount of City of Miami Beach
cash on deposit June 11th, 1930, in the Bank of
Bay Biscayne, including accrued interest, was
$12,474.28, and,
WHEREAS, Dr. J. H. Therrell, as Liquidator
for the Bank of Bay Biscayne, has recently turned
over to C. W. Tomlinson City Clerk, for the City
of Miami Beach, thirty $500.00 par value Goulds
Special Drainage District #1 of Dade County, 6%
Bonds, maturing serially from 1932 to 1939, which
same were formerly held in trust to secure said
deposit , and,
WHEREAS said bonds are not and never have
been in default and if held to maturity and fully
paid will amount to $8,135.72 over and above the
amount of our former City deposit with the Bank
of Bay Biscayne,
NOW, THEREFORE BE IT RESOLVED BY THE CITY
COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA, That
C. W. Tomlinson, City Clerk of said City, is here-
by authorized to offer to said Dr. J. H. Therrell,
as Liquidator for the Bank of Bay Biscayne, the
return of the above described bonds , totalling
i $15,000.00 par value, and bearing April 1st , 1932
and all subsequent interest coupons, in exchange
for $11,424.28 cash, being the amount of our former
City deposit less $1,050.00 interest collected on
said bonds since the closing of said Bank of Bay
Biscayne, and,
BE IT FURTHER RESOLVED, That we urge the said
Dr. J. H. Therrell to accept this offer as we feel
it would materially benefit other depositors in
said Bank of Bay Biscayne.
PASSED AND ADOPTED this 21st day of October,
A. D. 1931.
• ./ / ('
Presi,ent of City Council
ATTEST:
•
City Clerk
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