13683 RESOLUTION NO. 13683
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA, AMENDING
RESOLUTION NO. 13061 AUTHORIZING ISSUANCE
OF NEGOTIABLE COUPON BONDS IN THE AMOUNT
OF $250, 000 FOR THE PURPOSE OF DEFRAYING
ADDITIONAL COSTS OF TUE 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
1973 1 $ 5, 000
1974 2 5, 000
1975 3 5, 000
1976 4 5, 000
1977 5 5, 000
1978 6- 7 10, 000
1979 8- 9 10, 000
1980 10-11 10, 000
1981 12-13 10, 000
1982 14-15 10, 000
-1-
OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
MATURING NUMBERED AMOUNT
1983 16-17 $10, 000
1984 18-19 10, 000
1985 20-21 10, 000
1986 22-23 10, 000
1987 24-27 20, 000
1988 28-31 20, 000
1989 32-35 20, 000
1990 36-39 20, 000
1991 40-43 20, 000
1992 44-50 35, 000
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 inclusive;
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, pro-
vided 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 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.
-2-
OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
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. 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.
Bonds maturing in the yearsl973 to 1982, both in-
clusive, 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 19E3 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 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
-3-
OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
41IMMMMMEMEMMIMMIW Alm
(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-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 , 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 regis-
tration 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
-4-
OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI BEACH, FLORIDA 33139
•
•
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 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 7 . That this resolution shall be in force and effect
immediately upon its adoption.
PASSED and ADOOPTED_ this 2nd day of August, 1972.
(1_)(A
Mayor
Attest:
City Clerk-Finance Director
-5-
OFFICE OF CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI REACH, FLORIDA 33139