Resolution 4053 RESOLUTION NO. 4053
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI
BEACH, FLORIDA:
Section 1: That the proposal of _,John Nuveen and Company, Wells-
Dickey and Company, Uhildress and Company and Miami
Beach First National Bank, dated June 30th, 1937, for
the $375,000.00 Public Improvement Bonds as specified in said pro-
posal, which bonds were authorized by the City Council by Resolu-
tion No. 3849, adopted on February 5th, 1937, said proposal being
in the words and figures following:
i PROPOSAL FOR BONDS
June 30th, 1937
Mr. C. W. Tomlinson,
City Clerk, ADVERTISEMENT
Miami Beach, Florida. and
Dear Sir:
For $375,000. City of Miami Beach, Series 9, Golf BLANK PROPOSAL
Course Bonds, as described in the attached notice of
sale, which is hereby made a part of this bid, we will
pay for3!'3/ 0 Bonds, Three Hundred Sixty-
eight---Thausand__-8e en-Hundr_ed---and 00/100
Dollars ($ 36€5 2700,00 )
and accrued interest to date of delivery.
ALTERNATE BID
For $375,000. City of Miami Beach, Series 9, Golf $ 3 7,5 , 0 0 0
Course Bonds, as described in the attached notice of
sale, which is hereby made a part of this bid, we will CITY of MIAMI BEACH
t pay for % Bonds, FLORIDA
1
Dollars ($----------------------------- )
and accrued interest to date of delivery.
I
We enclose herewith certified check in the amount
of 2% of the par value of bonds bid for, made payable Public Improvement Bonds
to the City of Miami Beach, which is to be returned to
us if this bid is not accepted, but otherwise to be de- Dated April 1st, 1937
posited by said City and when the bonds are delivered
and paid for under the terms of this bid, to be con-
sidered as an advance part payment therefor, or it is
to be retained by said City as and for liquidated dam-
ages in case the undersigned fails to take up and pay
for said bonds in accord herewith.
We will accept delivery of bonds at the Continental
Bank and Trust Company in New York City.
JOHN NUVEEN & COMPANY
By (Signed)Wm.A.Griggsby
WELLS-DICKEY & COMPANY--
By (Signed)Wm.A.Grigsby,Agent
CHILDRESS & C0 MPANY`
By ( Signed') F.L,Wall,Agent Sealed bids will be received until 11:00 A. M. on
MIAMIBEACHFIRST---NATIONAL BANK Monday, June 28th, 1937
No addition or alteration is to be made to this pro-
posal and it must not be detached from the annexed
1 advertisement. By F.L.Wall , Pres.
i
i
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$375 , 000 . 00
CITY OF MIAMI BEACH, FLORIDA
PUBLIC IMPROVEMENT BONDS
Sealed bids will be received by the City Council, addressed to the undersigned
and marked "Proposal for ,Bonds," until 11:00 o'clock A. M., on Monday, June 28th,
1937, for the following bonds of the City of Miami Beach:
$375,000.00 PUBLIC IMPROVEMENT BONDS pany, New York City. Registerable as to principal
Denomination $1,000 only; general City obligations; unlimited tax levy.
The, bonds have been validated-by decree-of he-
SERIES 9 Circuit Court and the purchaser will be furnished the
approving legal opinion of Messrs. Caldwell and Ray-
Golf Course Bonds, $375,000.00, maturing annually mond of New York City.
April.1st and numbered as follows:
The bonds will be prepared under the supervision
$ 12,000. 1938 Numbered 1 to 12 of The Continental Bank and Trust Company of New
York City, which will certify as to the genuineness of
12,000 1939 PI 13 to 24 the signatures of the officials and the seals impressed
12,000. 1940 " 25 to 36 thereon.
4,000. 1941 —_____ If 37 to 40 •
4,000 1942 " 41 to 44
Bids must be upon printed forms to be furnished
by the undersigned or by the said The Continental Bank
��
4,000 1943______ 45 to 48 and Trust Company and must be enclosed in a sealed
4,000. — 1944 " 49 to 52 envelope marked "Proposal for Bonds" and be accom-
4,000.______ _1945 _____ " 53 to 56 panied by a certified check in the amount of two per-
12,000 — 1946 PP 57 to 68 cent. (2%) of the par value of the bonds being bid for,
16,000. 1947 ___ 69 to 84 said check to be made payable to City of Miami Beach.
16,000. 1948 " 85 to 100 A bidder must bid on the entire series of bonds, in
16,000. 1949 " 101 to 116 conformity with the provisions of the bidding form.
16,000._.. 1950_.. " 117 to 132 Bidder may submit alternate bids at different rates of
19,000. 1951 If 133 to 151 interest, but all of the bonds in the series must bear
the same rate.
24,000. 1952 " 152 to 175
27,000 1953 PP 176 to 202 Comparison of bids will be made by taking the
31,000. 195472 203 to 233 cost of interest to the City at the rate named in the
34,000 1955________________ PP 234 to 267 respective bids and deducting therefrom the premium
bid. No bid will be accepted for less than the par value
34,000._ 1956 IP 268 to 301 of the bonds and accrued interest thereon and any bid
74,000. 1957 302 to 375 not complying with the terms of this notice will be
rejected, and all bids must be unconditional.
The bonds will be delivered to the successful bidder
No option of prior payment reserved. All bonds c at The Continental Bank and Trust Company in New
to be dated April 1st, 1937. Interest payable on April York City on or about twenty days after sale.
1st and October 1st. Bidder to name the interest rate, Srhe exceeding four and one-half (41h%) percent. in a The right to accept or reject any and all bids is
multiple of one quarter of one percent. Principal and reserved.
semi-annual interest payable in lawful money of the
United States at the Chemical Bank and Trust Com- 4. L C.,W.,TOMLINSON, City Clerk.
be and the same is hereby accepted.
The City Council by u mous vote of the members present
does HEREBY RESOLVE to selirb hds at private sale and that the
above mentioned bid 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 that said bonds are hereby
sold at private sale to the said JOHN NUVEEN AND COMPANY, WELLS-
DICKEY AND COMPANY, CHILDRESS AND COMPANY and MIAMI BEA►," FIRST
NATIONAL BANK, and
Section 2: That the said $3755,000.00 Series 9, Golf Course Bonds
shall bear interest at the rate of three and three-
quarters percent. (3-3/4%) per annum.
PASSED AND ADOPTED this 30th day of J e, A. D. , 1937.
<_ Mayor
ATTEST•
A
City Clerk
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