Resolution 10706 7 - /p v
RESOLUTION NO. 10706
WHEREAS, in accordance with the provisions of Resolution
No. 7127 and No. 9651 of the City Council of the City of Miami
Beach, Florida, all the unretired Parking Revenue Bonds, Series
1950 have been called for redemption and retirement, and
WHEREAS, under the provisions of Section 4, Resolution
No. 9651 , after the retirement of all the 1950 Bonds, the City
may require the Depository to invest all or any part of the
money in the Reserve Account in the Bond Fund and in the Renewal
and Replacement Fund and all money held as Surplus in direct
obligations of the United States of America,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Miami Beach, Florida, that the Miami Beach First National
Bank as the Depository of said Funds be, and it is hereby request-
ed and directed to invest the said funds in accordance with the
Schedule submitted herewith -
From Surplus Revenues Fund -
A sum sufficient to fully utilize as near may be, the
amount of $262,866.77 to be invested in 3-3/4% U. S.
Treasury Notes, or 3-1/4% U. S. Treasury Notes, to
mature on November 15, 1962.
A sum sufficient to fully utilize as near may be, the
amount of $7,392.74 to be invested in U. S. Treasury
Bills, to mature on June 22, 1962.
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.
21st February,
PASSED and ADOPTED this day of A.D. 1962.
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Mayor
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