13265 •
RESOLUTION NO. 13265
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
MIAMI BEACH, FLORIDA, that the firm of Reynolds & Co. , member
of the New York Stock Exchange, be, and it is hereby employed
by the City of Miami Beach as Fiscal Agent for the City for the
purpose of rendering the usual and customary services of fiscal
agents in the marketing of the bonds and obligations hereinafter
described and set forth:
"SERIES 1 : Waste Disposal Facility Bonds, 1970.
For the purpose of participating with the
Federal Government on a 2/3 Federal and a
1/3 City cost participation program
involving the planning, site, acquisition
and construction of facilities for the
disposal of garbage, rubbish and similar
solid wastes .
$2, 500, 000.00"
"SERIES 3 : Biscayne Bay Public Park Acquisition
Bonds, 1970.
For the purpose of constructing a public park
on Biscayne Bay, extending generally south
of 4th Street on the west side of Alton Road,
and consisting of Lots 32 through 41, inclu-
sive, Block 111, Ocean Beach Addition No. 3,
Plat Book 2, Page 81, Public Records of Dade
County, Florida.
$1, 500, 000.00"
"SERIES 4: North Shore Community Center
Bonds, 1970.
For the purpose of improving, extending
and enlarging the North Shore Community
Center.
$100, 000. 00"
"SERIES 5 : Oceanfront Public Park Acquisition
Bonds, 1970.
For the purpose of completing the acquisition
and construction of a Public Park on the
Oceanfront extending from Collins Avenue to
the Atlantic Ocean, and located between 81st
and 87th Streets.
$900, 000.00"
said services to be compensated for at the rate of $1.00 per
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OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
'
$1, 000.00 par value of said bonds ; said fee to be payable only
when, as, and if said bonds are actually sold and delivered, and
subject to the further terms, conditions, and provisions as set
forth in that certain letter bearing date April 15, 1971, from
Reynolds & Co. , by Stanley E . Ross, and addressed to the Mayor
and City Council of the City of Miami Beach, Florida; provided,
however, that the following provision in said letter :
"It is further mutually agreed that the Financial
Consultant may bid at the public sale of the
bonds, to be held in the manner provided by law"
shall be amended to read that :
"It is further mutually agreed that the Financial
Consultant shall not be permitted to bid at the
public sale of the bonds, to be held in the manner
provided by law; "
Said Amendment being had and made with the consent of the Financial
Consultant; and
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY
OF MIAMI BEACH, FLORIDA, that the Mayor and the City Clerk-Finance
Director of the City of Miami Beach be and they are hereby authorized
and directed to execute and deliver said Letter Proposal, as herein-
above amended, to Reynolds & Co. , for and on behalf of the City of
Miami Beach, Florida.
PASSED and ADOPTED this 5th day of May, 1971.
E . •r
, •t-4
ATTEST :
City Clerk - Finance Director
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OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
RESOLUTION NO. 13288 l-
WHEREAS, by Resolution No. 13265, passed and
adopted by the City Council on May 5,' 1971, the City Council
authorized the sale of General Obligation Bonds, described
as Series 1, Waste Disposal Facility Bonds, 1970, totaling
$2, 500, 000. 00; Series 3, Biscayne Bay Public Park Acquisition
Bonds, 1970, totaling $1, 500, 000. 00; Series 4, North Shore
Community Center Bonds, 1970, totaling $100, 000. 00; and
Series 5, Oceanfront Public Park Acquisition Bonds, 1970,
totaling $900, 000. 00, for a total authorized sale of
$5, 000, 000.00; and
WHEREAS, the City' s Financial Advisor has informed
the City Council that the $5, 000. 00 in bonds of each of said
series matures on August 1, 1971, and that it is advisable
and expedient, inasmuch as said bonds will become due and
payable on or before the sale and delivery of the bonds in
question, and that therefore, the sale and delivery of said
$5, 000. 00 bonds in each of said four (4) series would be
a nugatory act.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY
COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA, that said
Resolution No. 13265 be and the same is hereby amended so
as to delete therefrom authorization for the sale of said
bonds; totaling $20, 000.00, and maturing on August 1, 1971.
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA, that said bonds provide for
the redemption thereof as follows :
The Bonds maturing in the years 1981 to
1990, both inclusive, shall be redeemable
prior to their respective stated dates of
maturity, at the option of the City, in
whole or in part, but in inverse order of
maturities and by lot within maturities if
less than all, on August 1, 1980, or on
any interest payment date thereafter, at
the price of par and accrued interest, plus
a premium, expressed as a percentage of
the par value thereof, of 3% if redeemed in
the years 1980 to 1983, both inclusive; 2%
if redeemed in the years 1984 to 1987, both
inclusive; and 1% if redeemed in the years
1988 to 1990, both inclusive.
PASSED and ADOPTED this 18th day of May , 1971.
(Signed) Jay Dermer
Mayor
Attest: •
(Signed) Ruth B. Rouleau
City Clerk-Finance Director
(SEAL)
OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
RESOLUTION NO. 13 265
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
MIAMI BEACH, FLORIDA, that the firm of Reynolds & Co. , member
of the New York Stock Exchange, be, and it is hereby employed
by the City of Miami Beach as Fiscal Agent for the City for the
purpose of rendering the usual and customary services of fiscal
agents in the marketing of the bonds and obligations hereinafter
described and set forth:
"SERIES 1 : Waste Disposal Facility Bonds, 1970.
For the purpose of participating with the
Federal Government on a 2/3 Federal and a
1/3 City cost participation program
involving the planning, site, acquisition
and construction of facilities for the
disposal of garbage, rubbish and similar
solid wastes.
$2, 500, 000.00"
"SERIES 3 : Biscayne Bay Public Park Acquisition
Bonds, 1970.
For the purpose of constructing a public park
on Biscayne Bay, extending generally south
of 4th Street on the west side of Alton Road,
and consisting of Lots 32 through 41, inclu-
sive, Block 111, Ocean Beach Addition No. 3,
Plat Book 2, Page 81, Public Records of Dade
County, Florida.
$1, 500,000.00"
"SERIES 4: North Shore Community Center
Bonds, 1970.
For the purpose of improving, extending
and enlarging the North Shore Community
Center.
$100, 000.00"
"SERIES 5 : Oceanfront Public Park Acquisition
Bonds, 1970.
For the purpose of completing the acquisition
and construction of a Public Park on the
Oceanfront extending from Collins Avenue to
the Atlantic Ocean, and located between 81st
and 87th Streets.
$900, 000.00"
•
said services to be compensated for at the rate of $1 .00 per
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oillCt Of CRY MOUNT 1130 WASHINGTON AVM*—MIAMI HACK, FLORIDA 3313
Ar
$1, 000. 00 par value of said bonds ; said fee to be payable only
when, as, and if said bonds are actually sold and delivered, and
subject to the further terms, conditions, and provisions as set
forth in that certain letter bearing date April 15, 1971, from
Reynolds & Co. , by Stanley E. Ross, and addressed to the Mayor
and City Council of the City of Miami Beach, Florida; provided,
however, that the following provision in said letter :
„It is further mutually agreed that the Financial
Consultant may bid at the public sale of the
bonds, to be held in the manner provided by law"
. shall be amended to read that :
"It is further mutually agreed that the Financial
Consultant shall not be permitted to bid at the
public sale of the bonds, to be held in the manner
provided by law; "
Said Amendment being had and made with the consent of the Financial
Consultant; and
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY
OF MIAMI BEACH, FLORIDA, that the Mayor and the City Clerk-Finance
Director of the City of Miami Beach be and they are hereby authorized
and directed to execute and deliver said Letter Proposal, as herein-
above amended, to Reynolds & Co. , for and on behalf of the City of
•
Miami Beach, Florida.
PASSED and ADOPTED this 5th day of May, 1971.
(Signed) Jay Dermer
Mayor
ATTEST :
(Signed) Ruth B. Rouleau
City Clerk - Finance Director
(SEAL)
•
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