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13061 RESOLUTION NO. 1..3061 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING ISSUANCE OF NEGOTIABLE COUPON BONDS IN THE AMOUNT OF $250, 000 FOR THE PURPOSE OF DEFRAYING ADDITIONAL COSTS OF THE CONSTRUCTION OF THE SOUTH SHORE COMMUNITY CENTER. Whereas, the duly registered and qualified voters of the City of Miami Beach, Florida, participating in the election held according to law in the City of Miami Beach, Florida, on April 23, 1970, authorized the issuance of negotiable coupon bonds of the City of Miami Beach in the aggregate sum of $250, 000 for the purpose of defraying additional costs of the construction of the South Shore Community Center. NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA : SECTION 1. That pursuant to said election, TWO HUNDRED FIFTY THOUSAND ($250, 000) DOLLARS of negotiable coupon bonds of the City of Miami Beach, Florida, be issued bearing date of August 1, 1970, and bearing interest at a rate to be hereafter determined, not exceeding the highest rate of interest permitted by law, per annum, payable semi- annually, on the first day of August and February of each year, which interest shall be evidenced by coupons attached to the principal bonds, and both principal and interest shall be payable in lawful money of the United States of America at Chemical Bank, New York City, which bonds shall be registrable as to principal in accordance with the endorsement which this resolution directs to be printed on said bonds, and that the Chemical Bank, New York City, is hereby designated Registrar for that purpose. SECTION 2 . Said bonds shall be issued in One (1) Series and in the respective amounts as follows : SERIES 2 : For the purpose of defraying additional costs of the construction of the South Shore Community Center $250, 000 Said Series 2 bonds in the principal amount of $250, 000 shall be known as "Additional South Shore Community Center Bonds 1970, " and shall be numbered and mature as follows : MATURING NUMBERED AMOUNT August 1 1971 1 $ 5, 000 1972 2 5, 000 1973 3 5, 000 1974 4 5, 000 1975 5 5, 000 1976 6-7 10, 000 1977 8-9 10, 000 1978 10-11 10, 000 1979 12-13 10, 000 1980 14-15 10, 000 -1- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 • • MATURING NUMBERED AMOUNT 1981 16-17 $10, 000 1982 18-19 10, 000 1983 20-21 10, 000 1984 22-23 10, 000 1985 24-27 20, 000 1986 28-31 20, 000 1987 32-35 20, 000 1988 36-39 20, 000 1989 40-43 20, 000 1990 44-50 35, 000 SECTION 3. That said bonds shall be callable for redemption as shall be hereafter determined by Resolution to be adopted by the City Council. Notice of such intended redemption in each case shall be published at least once, at least thirty (30) days prior to the date of redemption, in a financial journal published in the City of New York, New York. Interest shall cease to accrue on any bonds so called for prior redemption on the redemption date if adequate funds have been duly provided for the redemption thereof. SECTION 4. That all of the bonds herein authorized and referred to in Section 2 of this Resolution, shall be in the denomination of $5, 000 each, and shall be designated Public Improvement Bond 1970, followed by a brief description of the purpose as hereinabove provided and shall be alike in form, except as to statement of series, purpose and the dates of maturities and numbers, and the form of said bonds, coupons and registration endorsement, as well as the manner of execution of said bonds and coupons and certificates of validation shall be substantially as follows : No. UNITED STATES OF AMERICA $5, 000.00 STATE OF FLORIDA, COUNTY OF DADE CITY OF MIAMI BEACH PUBLIC IMPROVEMENT BOND (Here insert Series No. and statement of purpose) KNOW ALL MEN BY THESE PRESENTS that the City of Miami Beach in the County of Dade and State of Florida, is justly indebted, and for value received, hereby promises to pay to the bearer, or if registered to the registered owner hereof, on the 1st day of August, 19 , the principal sum of $5, 000. 00 DOLLARS with interest thereon at the rate of percent per annum, payable semi-annually, on the first day of February and the first day of August in each year, upon the presentation and surrender of the annexed interest coupons as they severally become due. Both the principal and interest of this bond are payable in lawful money of the United States of America, at the office of Chemical Bank in the City of New York. For the prompt payment hereof, both principal and interest, as the same shall become due, the full faith, credit and resources of said City of Miami Beach are hereby irrevocably pledged. This bond is one of a series of like tenor, date and amount, but maturing at different times, issued by said City for the purpose of paying the cost of certain public improvements in the City of Miami Beach, Florida, as stated in the caption hereof and more particularly described in -2- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 • Resolution No. 12983, of the City Council of said City, passed and adopted on March 20, 1970, under the authority of and in full compliance with the Constitution and Statutes of the State of Florida, including Chapter 100, Florida Statutes, and the City Charter, being Chapter 7672 of the Laws of Florida of 1917, and Acts amendatory thereof and supplemental thereto, and has been authorized and approved by a majority of the votes cast in an election of the qualified voters of the City, which election was called and held and the result declared and recorded in the manner prescribed by law. (Insert redemption provisions determined by subsequent resolution) It is hereby certified and recited that all acts, conditions and things required to happen, exist or to be done precedent to and in the issuance of this bond by said charter and the laws and Constitution of the State of Florida, have happened, exist and have been performed; that provision has been made for the levy and collection of a direct annual tax upon all taxable property within said City, sufficient to pay the interest and principal of this bond as the same shall become due and that the total indebtedness of said City, including this bond, does not exceed any constitutional or statutory limitation thereof. This bond may be registered as to principal in accordance with the provisions endorsed hereon. IN WITNESS WHEREOF, the said City of Miami Beach, Florida, has caused this bond to be executed by its Mayor and attested by its City Clerk and Finance Director (the facsimile signatures of said Mayor and City Clerk and Finance Director being imprinted or reproduced on this bond, and on the validation legend appearing hereon, provided that at least one of said officers shall manually apply his signature on said bond) ; and the corporate seal of said City has been impressed or imprinted hereon, and the interest coupons hereto attached executed by said officials by their facsimile signatures, all as of the 1st day of August, 1970. Mayor Attest : City Clerk and Finance Director (Form of Coupon) No. $ On the 1st day of , 19 , the City of Miami Beach, Florida, will pay to the bearer at the Chemical Bank, New York City, New York, the sum of Dollars in lawful money of the United States of America, as provided in and for the interest then due on its Public Improvement Bond, Series , dated the 1st day of August, 19 and numbered Mayor Attest : City Clerk and Finance Dire�C"f'or _3_ OFFICE OF CITY ATTORNEY—1130 WASHINGTON AVENUE—MIAMI BEACH, FLORIDA 33139 ENDORSEMENT CONCERNING VALIDATION This bond is one of a series of bonds which were validated and confirmed by decree of the Circuit Court of the Eleventh Judicial Circuit of the State of Florida in and for Dade County, rendered on , 197 ENDORSEMENT CONCERNING REGISTRATION This bond may be registered in the name of the holder on the books to be kept by the Chemical Bank, as Registrar, or such other Registrar as may hereafter be duly appointed, as to principal only, such registration being noted hereon by such Registrar in the registration blank below after which no transfer shall be valid unless made on said books by the registered holder or his attorney duly authorized and similarly noted in the registration blank below, but it may be discharged from registration by being transferred to bearer after which it shall be transferable by delivery, but it may again be registered as before. The registration of this bond as to principal shall not restrain in the negotiability of the coupons by delivery merely, but the coupons may be surrendered and the interest made payable only to the registered holder, in which event the Registrar shall note in the registration blank below that this bond is registered as to interest as well as principal and thereafter the interest will be remitted by mail to the registered holder. With the consent of the holder and of the City of Miami Beach, this bond when converted into a bond registered as to both principal and interest, may be reconverted into a coupon bond and again converted into a bond registered as to both principal and interest as hereinabove provided. Upon reconversion of this bond, when registered as to principal and interest into a coupon bond, coupons representing the interest to accrue upon this bond to date of maturity shall be attached hereto by the Registrar. The Registrar shall note in the registration blank below whether this bond is registered as to principal only or payable to bearer. DATE OF REGISTRATION NAME OF REGISTERED OWNER REGISTRAR SECTION 5. That in each year while any of the bonds referred to in Section 2 of this resolution shall be outstanding, there shall be levied on all of the taxable property within said City, a direct annual tax sufficient to pay the principal and interest falling due in the following year upon said bonds, which tax shall be collected as other City taxes are collected and shall be used for no other purpose than the payment of said principal and interest. SECTION 6. That the City Attorney is hereby authorized and directed to proceed in the name of said City to have said bonds validated by the Circuit Court of Dade County, Florida. -4- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 • r SECTION 7. That said bonds shall be executed in the name of the City by the Mayor and attested by the City Clerk and Finance Director, one of which signature may be a facsimile signature, and shall have affixed thereto or printed or reproduced thereon the corporate seal of the City. In case any one or more of the officers who shall have signed or sealed any of the bonds shall cease to be such officer of the City before the bonds so signed and sealed have been actually sold and delivered, such bonds may nevertheless be sold and delivered as herein provided and may be issued as if the person who signed or sealed such bonds had not ceased to hold such office. Any bond may be signed and sealed on behalf of the City by such person as at the actual time of the execution of such bonds shall hold the proper office in the City, although at the date of such bonds such person may not have held such office or may not have been so authorized. The coupons to be attached to the bonds shall be authenticated with the facsimile signatures of the present or any future Mayor and City Clerk and Finance Director, and the City may adopt and use for that purpose the facsimile signature of any of said persons who shall have been such officers at any time on or after the date of the bonds, notwithstanding that they may have ceased to be such officers at the time when said bonds shall be actually sold and delivered. SECTION 8. That this resolution shall be in force and effect immediately upon its adoption. PASSED and ADOPTED this 15th day of July, 1970. 1k . AO Ma or Attest: City Clerk-Finance Director -5- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139