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13682 RESOLUTION NO. 13682 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA, AMENDING RESOLUTION NO. 12924, AUTHORIZING THE ISSUANCE OF NEGOTIABLE COUPON BONDS IN AMOUNT $350, 000.00 FOR THE PURPOSE AUTHORIZED AT AN ELECTION HELD ON NOVEMBER 18, 1969. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA, that Resolution No. 12924, passed and adopted December 17, 1969 be and the same is hereby amended to read as follows : "WHEREAS, the City Council of the City of Miami Beach, Florida, by Resolution No. 12850-A, adopted on the 29th day of September, 1969, authorized the issuance of negotiable coupon bonds of the City of Miami Beach for the purpose and in the amount therein stated, in amount $350,000.00 subject to the authorization of the duly registered and qualified voters of said City who were freeholders therein participating in the special election which said resolution directed to be held on November 18, 1969; and WHEREAS, the said City Council on November 19, 1969, canvassed the returns of the aforesaid special election and found that the issuance of said bonds in the aggregate amount of $350, 000.00 had been approved by a majority of the votes cast in said election, in which a majority of the freeholders who were qualified electors residing in said City participated, and declared and recorded, in the manner prescribed by law, the result of said election and canvass, approved as aforesaid was as follows : "Shall the City of Miami Beach, Florida issue negotiable coupon bonds in the amount of $350, 000.00 with interest at a rate to be hereinafter determined, not exceeding 6% per annum, for the purpose of acquiring and im- proving the following described parcel of land situate in Miami Beach, Florida, for public Park and related recreational use: Lots 1 through 7, inclusive, less the easterly 50 ' of Lot 7, Block 2, TATUM WATERWAY SUBDIVISION, according to the Plat thereof recorded in Plat Book 46 at page 2 of the Public Records of Dade County, Florida?" 5,847 voters participating, of which 2, 851 were for the bonds and 677 votes against the bonds, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA: SECTION 1: That pursuant to said election $350, 000.00 of negotiable coupon bonds of the City of Miami -1- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 Beach, Florida, be issued bearing date February 1 , 1970, and bearing interest at a rate to be hereafter determined, not exceeding 6% per annum, payable semi-annually, on the first day of February and August of each year, which in- terest 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 in New York City, New York which bonds shall be registrable as to principal in accord- ance with the endorsement which this resolution directs to be printed on said bonds and that the City Clerk and Finance Director of said City is hereby designated Registrar for that purpose. SECTION 2: Said bonds shall be issued in Series #1 and in amounts as follows : SERIES 1: For the purpose of acquiring and improving the following described parcel of land situate in Miami Beach, Florida, for public park and related recreational use: Lots 1 through 7, inclusive, less the easterly 50 ' of Lot 7, Block 2, TATUM WATERWAY SUBDIVISION, according to the Plat thereof recorded in Plat Book 46 at page 2 of the Public Records of Dade County, Florida. SERIES 1 shall be in the principal amount of $350,000.00 and shall be known as 41969 Public Park Bonds" and shall be numbered and mature as follows: AMOUNT MATURING NUMBERED $10, 000 1973 1 - 2 10, 000 1974 3 - 4 10, 000 1975 5 - 6 10, 000 1976 7 - 8 10, 000 1977 9 -10 10, 000 1978 11 -12 10, 000 1979 13 -14 20, 000 1980 15 -18 20, 000 1981 19 -22 20, 000 1982 23 -26 20, 000 1983 27 -30 20,000 1984 31 -34 20, 000 1985 35 -38 20, 000 1986 39 -42 20, 000 1987 43 -46 20, 000 1988 47 -50 20, 000 1989 51 -54 20, 000 1990 55 -58 30, 000 1991 59 -64 30, 000 1992 65 -70 -2- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 SECTION 3 : That bonds maturing in the years 1973 to 1982, both inclusive, shall not be redeemable prior to their respective dates of maturity. Bonds maturing in the years 1983 to 1992, both inclusive, shall be redeemable prior to their respective stated dates of maturity, at the option of the City of Miami Beach, in whole or in part, but in inverse order of maturities and by lot within maturities, if less than all on February 1, 1982, or on any interest payment date thereafter, at the price of par and accrued interest, plus the following premiums, expressed in percentages of the par value thereof, if redeemed in the following years: Three per centum (3%) in the years 1983-1985, both inclus- ive; two per centum (2%) in the years 1986-1989, both inclusive; and one per centum (1%) in the years 1990-1992, both inclusive. A notice of the redemption of said bonds shall be published at least once at least 30 days prior to the date of redemption in a financial newspaper published in the City of New York, New York. Interest shall cease to accrue upon any of said bonds so duly called for redemption prior to maturity, provided payment thereof has been duly provided for. 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 " 1969 Public Park Bonds", followed by a brief description of the purpose as hereinbefore provided and shall be alike in form, except as to the statement of series , pur- pose and the dates of maturities and numbers, and the form of said bonds, coupons and regis- tration endorsement, as well as the manner of execution of said bonds and coupons and certif- icates 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 PARK 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 , 19 , the principal sum of FIVE THOUSAND DOLLARS with interest thereon at the rate of per cent per annum, payable semi-annually on the first day of February and the first day of 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 -3- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 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 Resolution No. 12924 , passed and adopted December 17 , 1969 , under the authority 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 duly authorized and approved by a majority of the votes cast in an election in which a majority of the freeholders who were qualified electors residing in said City participated, which said election was called and held and the result declared and recorded in the manner prescribed by law. Bonds maturing in the years 1973 to 1982, both inclusive, shall not be redeemable prior to their respective dates of maturity. Bonds maturing in the years 1983-1992, both inclusive, shall be redeemable prior to their respective 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 February 1, 1982, or on any interest payment date thereafter, at the price of par and accrued interest, plus the following premiums, expressed in percentages of the par value thereof, if redeemed in the following years : Three per centum (3%) in the years 1983 to 1985, both inclusive; two per centum (2%) in the years 1986 to 1989, both inclusive; and one per centum (1%) in the years 1990 to 1992, both inclusive. 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 (the facsimile signatures of said Mayor and City Clerk 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 -4- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 signatures, all as of the 1st day of , 19 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 Park Bonds, Series 1, dated the 1st day of , 19 and numbered Mayor Attest: City Clerk & Finance Director 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 Mayor Attest: City Clerk & Finance Director -5- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 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 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 coupon Bond and again converted into a Bond registered as to both principal and interest as hereinabove provided. Upon reconversion of the 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 Mayor and the City Clerk and Finance Director are hereby authorized and directed to execute the said bonds under the seal of said City, which shall be impressed or imprinted thereon. The facsimile signatures of said Mayor and City Clerk and Finance Director may be im- printed or reproduced on said bonds, and on the validation legend appearing thereon, provided that at least one of said officers shall manually apply his signature on said bonds . The coupons affixed to said bonds shall be executed by the facsimile signatures of said Mayor and City Clerk and Finance Director. The Mayor, the City Clerk and Finance Director and the City Attorney are hereby authorized and directed to take such steps as may be necessary to effect an early sale and delivery of said bonds . -6- OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139 SECTION 7: That this resolution shall be in force and effect immediately upon its adoption. " PASSED and ADOPTED this 2nd day of August , 1972. L� AIM / Mayor Attest: City Clerk & Finance Director (SEAL) OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139