Loading...
13574 RESOLUTION NO. 13574 A RESOLUTION OF THE CITY COUNCIL OF THL CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE ISSUANCE OF NEGOTIABLE COUPON BONDS IN THE AMOUNT OF $18, 160, 000 FOR THE PURPOSES AUTHORIZED AT AN ELECTION HELD ON MARCH 14, 1972 . WHEREAS, the duly registered and qualified voters of the City of Miami Beach, participating in the election held according to law in the City of Miami Beach, Florida, on March 14, 1972, authorized the issuance of negotiable coupon bonds of the City of Miami Beach in the aggregate sum of $18, 160 , 000 for the several purposes hereinafter stated. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA : SECTION 1. That pursuant to said election, $18, 160, 000 of negotiable coupon bonds of the City of Miami Beach, Florida, be issued bearing date of September 1 > 1972 and bearing interest at a rate to be hereafter determined, but not to exceed the maximum permitted by law, per annum, payable semi- annually, on the first day of March and September 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 the 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 Ten (10) Series and in the respective amounts as follows : SERIES 1 : For the purpose of acquiring additions to the City' s oceanfront public parks system: South Shore Park, described as follows : Lots 1 through 6, less the Westerly 15 feet of Block 1, FRIEDMAN COPE SUBDIVISION, Plat Book 4, page 83, of the Public Records of Dade County, Florida, said property being commonly known as the Shoreham-Norman Hotel property at the Northeast corner of 5th Street and Ocean Drive, and adjoining Lummus Park. $2, 000, 000. 00 Said Series 1 bonds in the principal amount of $2, 000, 000. 00 shall be known as "1972 South Oceanfront Park Addition Bonds ", and shall be numbered and mature as follows : -1- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 MATURING NUMBERED AMOUNT Sept. 1 1973 1-6 $ 30, 000. 00 1974 7-14 40, 000. 00 1975 15-22 40, 000. 00 1976 23-35 65, 000. 00 1977 36-48 65, 000. 00 1978 49-62 70, 000. 00 1979 63-78 80, 000.00 1980 79-94 80, 000. 00 1981 95-112 90, 000. 00 1982 113-131 95, 000. 00 1983 132-151 100, 000. 00 1984 152-172 105, 000. 00 1985 173-194 110, 000. 00 1986 195-217 115, 000. 00 1987 218-241 120, 000. 00 1988 242-266 125, 000. 00 1989 267-292 130, 000. 00 1990 293-323 155, 000. 00 1991 324-361 190, 000. 00 1992 362-400 195, 000. 00 SERIES 2 : For the purpose of acquiring and improving for oceanfront public park purposes the following described parcel of land, commonly known as the "Bell Property" and otherwise described as follows : Lots 7, 8 and 9, Block 1, AMENDED PLAT OF SECOND OCEANFRONT SUBDIVISION, Plat Book 28, page 28, of the Public Records of Dade County, Florida. $1, 500, 000. 00 Said Series 2 bonds in the principal amount of $1, 500, 000. 00 shall be known as "1972 Oceanfront Park Bonds", and shall be numbered and mature as follows : MATURING NUMBERED AMOUNT Sept. 1 1973 1-5 $ 25, 000. 00 1974 6-11 30, 000. 00 1975 12-17 30, 000. 00 1976 18-27 50, 000. 00 1977 28-37 50, 000. 00 1978 38-48 55, 000. 00 1979 49-60 60, 000. 00 1980 61-72 60, 000. 00 1981 73-85 65, 000. 00 1982 86-99 70, 000. 00 1983 100-114 75, 000. 00 1984 115-130 80, 000. 00 1985 131-146 80, 000. 00 1986 147-163 85, 000. 00 1987 164-181 90, 000. 00 1988 182-200 95, 000. 00 1989 201-220 100, 000. 00 1990 221-243 115, 000. 00 1991 244-271 140, 000. 00 1992 272-300 145, 000. 00 -2- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 SERIES 3 : For the purpose of acquiring the necessary land, the location and dimensions thereof to be determined by the City Council, for the relocation of the existing Public Works yards on Biscayne Bay South of 5th Street, and to construct on such new site a central garage, material storage and sarehousing facilities; a vehicle storage area, and such work shops as may be required for the performance of Department of Public Works functions; and for the improvement of storage areas for grass and tree cuttings and trimmings, land fill in connection therewith, and the appropriate fencing thereof. $5, 130, 000. 00 Said Series 3 bonds in the principal amount of $5, 130, 000. 00 shall be known as "1972 Relocation of Public Works Yards Bonds", and shall be numbered and mature as follows : MATURING NUMBERED AMOUNT Sept. 1 1973 1-17 $ 85, 000. 00 1974 18-37 100, 000.00 1975 38-58 105, 000. 00 1976 59-91 165, 000.00 1977 92-125 170, 000. 00 1978 126-162 185, 000.00 1979 163-201 195, 000. 00 1980 202-243 210, 000. 00 1981 244-288 225, 000. 00 1982 289-336 240, 000. 00 1983 337-387 255, 000.00 1984 388-441 270, 000.00 1985 442-497 280, 000. 00 1986 498-556 295, 000.00 1987 557-618 310, 000. 00 1988 619-683 325, 000.00 1989 684-751 340, 000.00 1990 752-830 395, 000. 00 1991 831-928 490, 000.00 1992 929-1026 490, 000. 00 SERIES 4 : For the purpose of acquiring, constructing, improving and landscaping the following parks, parkland improvements and recreational facilities : irrigation system for Normandy Golf Course; public restrooms for parks; lighting softball field at Flamingo Park; jetty development; Malecon expansion; Palm Island land acquisition; development of Palm Island children ' s park; greenhouse construction and acquisition; Flagler Island development; youth center; sailport construction; Stillwater Park improvements; bicycle paths at Normandy Golf Course, completion of cart paths at Normandy and Bayshore Golf Courses; South Shore Marina; tennis courts; craft shop; and the landscaping of the following : South Shore Park, 5th Street; South Shore Community Center; Normandy Island bridge entrance; and Julia Tuttle Causeway entrance. $5, 375, 000. 00 -3- OFFICE AF CITY ATTCJQNEY_1130 WASHINGTON AVENUE-MIAMI REACH_ FLCIRInA 22120 Said Series 4 bonds in the principal amount of $5, 375, 000. 00 shall be known as "1972 Park Improvement Bonds", and shall be numbered and mature as follows : MATURING NUM.BE RE D AMOUNT Sept. 1 1973 1-19 $ 95, 000. 00 1974 20-39 100, 000. 00 1975 40-63 120, 000. 00 1976 64-96 165, 000. 00 1977 97-131 175, 000. 00 1978 132-169 190, 000. 00 1979 170-211 210, 000. 00 1980 212-258 235, 000. 00 1981 259-306 240, 000. 00 1982 307-356 250, 000. 00 1983 357-408 260, 000.00 1984 409-464 280, 000.00 1985 465-525 305, 000. 00 1986 526-587 310, 000. 00 1987 588-652 325, 000. 00 1988 653-719 335, 000. 00 1989 720-791 360, 000.00 1990 792-874 415, 000. 00 1991 875-975 505, 000. 00 1992 976-1075 500, 000.00 SERIES 5 : For the purpose of constructing a lighting system for the arterial streets of the City. $1, 080, 000. 00 Said Series 5 bonds in the principal amount of $1, 080, 000. 00 shall be known as "1972 Arterial Street Lighting Bonds", and shall be numbered and mature as follows : MATURING NUMBERED AMOUNT Sept. 1 1973 1-3 $ 15, 000. 00 1974 4-7 20, 000. 00 1975 8-11 20, 000. 00 1976 12-18 35, 000. 00 1977 19-25 35, 000. 00 1978 26-33 40, 000. 00 1979 34-41 40, 000. 00 1980 42-50 45, 000. 00 1981 51-60 50, 000. 00 1982 61-70 50, 000. 00 1983 71-81 55, 000. 00 1984 82-92 55, 000. 00 1985 93-104 60, 000.00 1986 105-116 60, 000.00 1987 117-129 65, 000. 00 1988 130-143 70, 000.00 1989 144-157 70, 000. 00 1990 158-174 85, 000. 00 1991 175-194 100, 000.00 1992 195-216 110, 000. 00 -4- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 • SERIES 6 : For the purpose of improving, resurfacing and reconstructing the following street, bridge and alley improvements : South Coconut Lane improvements; 15th Street reconstruction from Bay Road to Meridian Avenue; street resurfacing program; alley reconstruction; and Normandy Isle bridges. $1, 160, 000. 00 Said Series 6 bonds in the principal amount of $1, 160, 000.00 shall be known as "1972 Street and Bridge Improvement Bonds ", and shall be numbered and mature as follows : MATURING NUMBERED AMOUNT Sept. 1 1973 1-4 $ 20, 000. 00 1974 5-8 20, 000.00 1975 9-13 25, 000. 00 1976 14-21 40, 000.00 1977 22-29 40, 000. 00 1978 30-37 40, 000. 00 1979 38-46 45, 000. 00 1980 47-56 50, 000.00 1981 57-66 50, 000.00 1982 67-77 55, 000.00 1983 78-89 60, 000.00 1984 90-101 60, 000.00 1985 102-113 60, 000.00 1986 114-127 70, 000. 00 1987 128-141 70, 000. 00 1988 142-156 75, 000.00 1989 157-171 75, 000.00 1990 172-189 90, 000. 00 1991 190-210 105, 000. 00 1992 211-232 110, 000. 00 SERIES 7 : For the purpose of locating, relocating and constructing the following water system improvements : 5th Street water line relocation; 4. 5 million gallon storage tank; 20" water crossing at Venetian Causeway; Biscayne Point water main; 16" water line from DiLido to Hibiscus to Star Island; and water line crossing at west drawbridge of MacArthur Causeway. $935, 000. 00 Said Series 7 bonds in the principal amount of $935, 000. 00 1 shall be known as "1972 Water Improvement Bonds", and shall be numbered and mature as follows : MATURING NUMBERED AMOUNT Sept. 1 1973 1-3 $ 15, 000.00 1974 4-7 20, 000. 00 1975 8-11 20, 000. 00 1976 12-17 30, 000. 00 1977 18-23 30, 000.00 1978 24-30 35, 000. 00 1979 31-37 35, 000. 00 1980 38-44 35, 000. 00 -5- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 MATURING NUMBERED AMOUNT 1981 45-52 $ 40, 000. 00 1982 53-61 45, 000. 00 1983 62-70 45, 000. 00 1984 71-80 50, 000. 00 1985 81-90 50, 000. 00 1986 91-101 55, 000. 00 1987 102-112 55;000. 00 1988 113-124 60, 000. 00 1989 125-136 60, 000. 00 1990 137-150 70, 000. 00 1991 151-167 85, 000. 00 1992 168-187 100, 000. 00 SERIES 8 : For the purpose of acquiring and purchasing electronic data processing equipment and accessory equipment. $300, 000. 00 Said Series 8 bonds in the principal amount of $300, 000. 00 shall be known as "1972 Data Processing Equipment Bonds ", and shall be numbered and mature as follows : MATURING NUMBERED AMOUNT Sept. 1 1973 1 $ 5, 000. 00 1974 2 5, 000. 00 1975 3 5, 000. 00 1976 4-5 10, 000. 00 1977 6-7 10, 000. 00 1978 8-10 15, 000.00 1979 11-13 15, 000. 00 1980 14-16 15, 000.00 1981 17-19 15, 000.00 1982 20-22 15, 000. 00 1983 23-25 15, 000. 00 1984 26-28 15, 000. 00 1985 29-32 20, 000. 00 1986 33-36 20, 000. 00 1987 37-40 20, 000. 00 1988 41-44 20, 000. 00 1989 45-48 20, 000.00 1990 49-52 20, 000. 00 1991 53-56 20, 000. 00 1992 57-60 20, 000. 00 -6- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 SERIES 9:For the purpose of purchasing and acquiring the following Fire Department equipment : one aerial truck; two 1250 GPM fire trucks; and one 1500 GPM truck. $280, 000. 00 Said Series 9 bonds in the principal amount of $280, 000.00 shall be known as "1972 Fire Department Equipment Bonds", and shall be numbered and mature as follows : MATURING NUMBERED AMOUNT Sept. 1 1973 1 $ 5, 000. 00 1974 2 5, 000.00 1975 3 5, 000. 00 1976 4-5 10, 000. 00 1977 6-7 10, 000.00 1978 8-9 10, 000.00 1979 10-11 10, 000. 00 1980 12-13 10, 000.00 1981 14-15 10, 000.00 1982 16-17 10, 000.00 1983 18-20 15, 000. 00 1984 21-23 15, 000. 00 1985 24-26 15, 000. 00 1986 27-29 15, 000.00 1987 30-33 20, 000.00 1988 34-37 20, 000.00 1989 38-41 20, 000.00 1990 42-45 20, 000.00 1991 46-50 25, 000. 00 1992 51-56 30, 000. 00 SERIES 10: For the purpose of improving and maintaining the City' s Auditorium and Convention Hall facilities, as follows : repair ceiling in Auditorium; replace stage flooring, raised flooring for Convention Hall; and Sprinkler systems for Convention Hall North and South. $400, 000. 00 Said Series 10 bonds in the principal amount of $400, 000. 00 shall be known as "1972 Auditorium and Convention Hall Improvement Bonds", and shall be numbered and mature as follows : MATURING NUMBERED AMOUNT Sept. 1 1973 1 $ 5, 000.00 1974 2-3 10, 000. 00 1975 4-5 10, 000. 00 1976 6-7 10, 000.00 1977 8-10 15, 000.00 1978 11-13 15, 000. 00 1979 14-16 15, 000. 00 1980 17-19 15, 000.00 1981 20-22 15, 000.00 1982 23-26 20, 000.00 1983 27-30 20, 000. 00 1984 31-34 20, 000. 00 1985 35-39 25, 000.00 1986 40-44 25, 000. 00 1987 45-49 25, 000. 00 1988 50-54 25, 000. 00 1989 55-59 25, 000. 00 1990 60-65 30, 000. 00 1991 66-72 35, 000. 00 1992 73-80 40, 000.00 OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 -7- • 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. 00 each, and shall be designated"1972 Public Improvement Bonds" 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 ofSeptember,l9 , the principal sum of FIVE THOUSAND DOLLARS with interest thereon, at the rate of percent per annum, payable semi-annually, on the first day of March and the first day of September 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 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 Resolution No. 13520 of the City Council of said City, passed and adopted on February 2, 1972, 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 those voting in said special election, which said election was called and held, and the result declared and recorded in the manner prescribed by law. (Insert redemption provisions determined by subsequent Resolution) -8- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 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 signatures 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 first day of September,1972 . Mayor Attest : City Clerk-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 September , 19 , and numbered Mayor Attest : City Clerk-Finance Director -9- 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 , 19 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 by 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 ,4hich 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 out- standing, 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. -10- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139