Resolution 77-15416 RESOLUTION NO. 77-15416
A RESOLUTION AUTHORIZING EXECUTION OF AGREEMENT
WITH FLAGSHIP FIRST NATIONAL BANK OF MIAMI BEACH
TO SERVICE THE COIN COLLECTIONS OF THE PARKING
SYSTEM FROM SEPTEMBER 1, 1977 FOR A PERIOD OF
TWELVE MONTHS .
WHEREAS, the 1965 Parking Revenue Bond Resolution No.
11410 provides that the Miami Beach First National Bank of Miami
Beach, Florida, subsequently through change of name is doing
business as the Flagship First National Bank of Miami Beach, be
designated as initial depository and custodian of the revenue for
the purpose of said resolution and the 1967 Parking Bond Resolution
No. 12086 continues said provision, and
WHEREAS, the Flagship First National Bank of Miami Beach
has agreed to receive, count, deposit and credit the Miami Beach
Parking Revenue Fund account with all monies collected for a
period of one (1) year commencing September 1, 1977 , and
WHEREAS, this service will cover verification of all
coins collected on a daily basis at an annual fee of Seventeen
Thousand Five Hundred Dollars ($17, 500. 00) , payable monthly on the
first day of each month; all foreign coins, except Canadian coins,
washers, slugs and other similar materials used in place of a coin
will be returned to the Parking Meter Division; and mutilated
coins will be handled by the Bank on a collection basis with
proper credit given to the Parking Revenue Fund account, and
WHEREAS, an appropriate agreement has been prepared and
has been approved as to form by the City Attorney, a copy of which
is attached hereto and made a part hereof, and
WHEREAS, the City Manager has recommended to the City
Council that said agreement be entered into; and
WHEREAS, the City Council of the City of Miami Beach
deems it to be in the best interest of the City and its residents
to enter into said agreement;
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COUNCIL
OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and the City
Clerk be and they are hereby authorized and directed to execute
the said agreement in the name of and on behalf of the City of
Miami Beach, and the disbursing officers of the City are hereby
authorized and directed to disburse the monies required by the
terms of said agreement from funds of the City available for such
purpose.
PASSED and ADOPTED this 17th day of August, 1977 .
ALA"
(_
Mayor
Attest:
City Clerk
OFFICE OF THE CITY ATTORNEY - 1700 CONVENTION CENTER DRIVE -MIAMI BEACH,FLORIDA 33139
AGREEMENT
THIS AGREEMENT, made and entered into this 17th day of
August , 1977 , by and between the FLAGSHIP FIRST NATIONAL
BANK OF MIAMI BEACH, a United States corporation, hereinafter
referred to as the "BANK, " and the CITY OF MIAMI BEACH, a Florida
municipal corporation, hereinafter referred to as the "CITY, "
WITNESSETH :
WHEREAS, the 1965 Parking Revenue Bond Resolution No.
11410 provides that the Miami Beach First National Bank of Miami
Beach, Florida, subsequently through change of name is doing
business as the Flagship First National Bank of Miami Beach, be
designated as initial depository and custodian of the revenue for
the purpose of said resolution and the 1967 Parking Bond Resolu-
tion No. 12086 continues said provision;
NOW, THEREFORE, for and in consideration of the mutual
covenants herein, each to the other made, the parties agree as
follows:
1. The BANK will receive, count, deposit and credit the
Miami Beach Parking Revenue Fund account with all monies collected
for a period of one year commencing September 1, 1977 . This
service will include verification of all coins collected on a
daily basis at an annual fee of Seventeen Thousand Five Hundred
Dollars ($17, 500. 00) , payable monthly on the first day of each
month. Foreign coins, except Canadian coins, washers, slugs and
other similar materials used in place of a coin will be returned
to the Parking Meter Division; and mutilated coins will be handled
by the BANK on a collection basis with the proper credit given to
the Parking Revenue Fund account.
2 . All meter collections will be transported by the
Metered Parking Division directly to the BANK which will prevent
any delay in use of the money and adequate controls and safeguards
over the money collected will be maintained.
\ '
OFFICE OF THE CITY ATTORNEY - 1700 CONVENTION CENTER DRIVE -MIAMI BEACH, FLORIDA 33139
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IN WITNESS WHEREOF, the CITY has caused these presents
to be executed in its name by its duly authorized officials and
the BANK has caused these presents to be executed by their duly
authorized officers on the date and year first above written.
CITY OF MIMI BEACH
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=yor
Attest:
City Clerk
FLAGSHIP FIRST NATIONAL BANK
OF MIAMI BEACH
Witness:
r
- 2 -
OFFICE OF THE CITY ATTOR!JEY-1700 CONVENTION CENTER DRIVE-MIAMI BEACH,FLORIDA 33139
ORIGINAL
RESOLUTION NO. 77-15416
(Authorizing execution of agreement with
Flagship 1st Natl . Bank of Miami Beach
to service the coin collections of the
Parking System from 9/1/77 for 12 mos.)