Resolution 6323 RESOLUTION NO. 6323
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA:
SECTION 1: That the proposal of Mercantile National Bank of Miami Beach
as submitted by Edw. Mercer, President, for all of the bonds
specified in said proposal, said bonds to bear 2% interest, and which bonds
were authorized by the City Council in Resolution No. 6264, passed and
adopted on April 9th, 1947, is hereby determined to be the highest and
best bid received for said bonds, said proposal being in words and figures
following:
PROPOSAL FOR BONDS
June 11 1947
Mr. C. W. Tomlinson, City Clerk, Advertisement and Blank
Miami Beach, Florida.
Dear Sir: Proposal
For$250,000 City of Miami Beach,Florida, Series 1.
`Sanitary Sewer System Bonds'', as described in the
attached notice of sale, which is hereby made a part of
this bid, we will pay for 2 % bonds
Two Hundred and
Fifty Thousand & no/'d9'o'Ylars
2 50,000
( )and accrued interest to date of delivery.
For$250,000 City of Miami Beach,Florida, Series 2. $1,644,000
"Water System Bonds", as described in the attached
notice of sale, which is hereby made a part of this bid,
we will pay for 2 % bonds CITY OF
Two Hundred and MIAMI BEACH, FLORIDA
Z i;tyOThousand Dollars
( ) and accrued interest to date of delivery. PUBLIC IMPROVEMENT
For$394,000 City of Miami Beach,Florida, Series 3. BONDS
"Street Paving Bonds", as described in the attached
notice of sale, which is hereby made a part of this bid,
we will pay for 2 % bonds Dated June 1st, 1947
Three Hundred and Ninetyfour
94,000 Thousand Dollars
394,000
) and accrued interest to date of delivery.
For$750,000 City of Miami Beach,Florida, Series 4.
"Auditorium Bonds",as described in the attached notice
of sale, which is hereby made a part of this bid, we will
pay for 2 % bonds
Seven Hundred & Fifty Thousac ars
750,004
($ and accrued interest to date of delivery.
We enclose herewith certified check in the amount
of 2% of the par value of bonds bid for, made payable to
the City of Miami Beach,which enclosure is to be returned
to us if this bid is not accepted, but otherwise to be
deposited by said City and when the bonds are delivered
and paid for under the terms of this bid,to be considered
as an advance part payment therefor,or it is to be retained
by said City as and for liquidated damages 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 & Trust Company in New York City, or at
Chemical Bank and Trust Company
165 Broadway, New York Sealed bids will be received until 11:00 A.M.,
MERCANTILE NATIONAL DANK OF ,a Eastern Standard Time,on Wednesday,
/s/ Edw. Merce ;tesident ALL June 11th, 1947
No addition or alteration is to be made to this pro-
posal and it must not be detached from the annexed
advertisement.
NOTE: Use additional proposal form in case you wish
to make an alternate bid.
SECTION 2: That said bid be and it is hereby accepted and that said
bonds are hereby sold to said bidders for the amount of
said bid and it is hereby deemed to be the best price obtainable for
said bonds; and
SECTION 3: That the said $1,644,000. Public Improvement Bonds to be
issued in four series, Numbers 1, 2, 3 and 4, respectively,
shall bear interest at the rate of Two percent (2%) per annum.
PASSED and ADOPTED this 11th day of June, A. D. 1947.
-� Mayor
ATTEST:
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City Clerk
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