Resolution 10557 RESOLUTION NO. 10557
WHEREAS, there is being held in the "Renewal and
Replacement Fund" of the Metered Parking System of the City of
Miami Beach the sum of Sixty-five Thousand Dollars ($65,000.00)
Par Value, 3-5/8% U. S. Treasury Notes maturing on May 15, 1961 ,
and
WHEREAS, the City Council of the City of Miami Beach
deems it to be for the best interest of the City of Miami Beach
that said funds continue to be invested, and
WHEREAS, the U. S. Treasury Department is now accepting
subscriptions for the purchase of 3-1/4% U. S. Treasury Notes,
issue of May 15, 1961 , and maturing on May 15, 1963,
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Miami Beach that the Miami Beach First National Bank,
as Depository of said Revenues Fund be, and it is, hereby requested
and directed to subscribe for the purchase of Sixty-five Thousand
Dollars ($65,000.00) Par Value, 3-1/4% U. S. Treasury Notes
maturing on May 15, 1963, and the Depository is further authorized
that in the event the subscription allotted by the U. S. Treasury
Department is not sufficient to fully utilize the funds available,
such funds in excess of the allotment shall be invested in U. S .
Treasury Obligations of a like maturity, and
BE IT FURTHER RESOLVED by the City Council of the City
of Miami Beach that a duly certified copy of this Resolution be
transmitted to the Miami Beach First National Bank.
PASSED AND ADOPTED this 3 day of May, A. D. 1961 .
Vice Mayor
ATTEST:
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