83-17262 RESOLUTION NO. 83-17262
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF MIAMISAL
BEACH, FLORIDA, AUTHORIZING THE -ME
OF NEGOTIABLE COUPON BONDS IN THE AMOUNT OF
$24, 000, 000 FOR THE PURPOSES AUTHORIZED AT
ELECTIONS HELD ON NOVEMBER 6, 1979, NOVEMBER 3,
1981 AND NOVEMBER 2, 1982, FIXING MATURITY DATES; •
SETTING SALE DATE AS MARCH 2, 1983.
WHEREAS, the duly registered and qualified voters of the
City of Miami Beach, participating in the elections held
according to law in the City of Miami Beach, Florida, on November
6, 1979, November 3, 1981 and November 2, 1982, authorized the
issuance of negotiable coupon bonds of the City of Miami Beach in
the aggregate sum of $24, 000, 000 for the several purposes
hereinafter stated.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA:
SECTION 1. That pursuant to said elections, $24, 000, 000
of negotiable coupon bonds of the City of Miami Beach, Florida,
be issued bearing the date of March 1, 1983, and bearing interest
at a rate per annum to be hereafter determined, not to exceed the
maximum rate permitted by applicable law, payable semiannually,
on the first day of March and the first day of 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
Chemical Bank, New York, New York which bonds shall be regis-
trable as to principal in accordance with the endorsement to be
printed on said bonds, and that Chemical Bank, New York, New York
is hereby designated Registrar for that purpose.
SECTION 2. Said bonds shall be issued in Four (4)
Series and in the respective amounts as follows:
Series 1: For the purpose of developing and
• building promenade structures, dune
crossovers, dune landscaping, site
furnishings, lighting, and related
facilities on property east of •
Collins Avenue and between 21st
Street and 46th Street.
$1, 500, 000
Said Series 1 bonds in the principal amount of
$1, 500, 000 shall be known as "1983 Beachfront Park and Promenade
Public Improvement Bonds" and shall be numbered and mature as
follows:
DUE NUMBER BOND
. SEPTEMBER 1 AMOUNT BONDS NUMBERS
1984 30, 000 6 1 - 6
1985 30, 000 6 7 - 12
1986 30, 000 6 13 - 18
1987 40, 000 8 19 - 26
1988 40 , 000 8 27 - 34
1989 40, 000 8 35 - 42
1990 50, 000 10 43 - 52
1991 50, 000 10 53 - 62
1992 60, 000 12 63 - 74
1993 60, 000 12 75 - 86
1994 70, 000 14 87 - 100
1995 75, 000 15 101 - 115
1996 85, 000 17 116 - 132
1997 90, 000 18 133 - 150
1998 95, 000 19 151 - 169
1999 110, 000 22 170 - 191
2000 120, 000 24 192 - 215
2001 130, 000 26 216 - 241
2002 140, 000 28 242 - 269
2003 155, 000 31 270 - 300
Series 2: For the purpose of financing the
acquisition of land and the con-
struction of a Justice Center
thereon, said Justice Center to
contain a police station, jail,
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courtroom, and facilities related
to the foregoing.
$18, 000, 000
Said Series 2 bonds in the principal amount of
$18, 000, 000 shall be known as "1983 Justice Center Public
Improvement Bonds" and shall be numbered and mature as follows:
DUE NUMBER BOND
SEPTEMBER 1 AMOUNT BONDS NUMBERS
1984 260, 000 52 1 - 52
1985 285, 000 57 53 - 109
1986 305, 000 61 110 - 170
1987 340, 000 68 171 - 238
1988 370, 000 74 239 - 312
1989 405, 000 81 313 - 393
1990 450, 000 90 394 - 483
1991 485, 000 97 484 - 580
1992 535, 000 107 581 - 687
1993 585, 000 117 688 - 804 •
1994 635, 000 127 805 - 931
1995 705, 000 141 932 - 1072
1996 1, 125, 000 225 1073 - 1297
1997 1, 230, 000 246 1298 - 1543
1998 1, 350, 000 270 1544 - 1813
1999 1, 480, 000 296 1814 - 2109
2000 1, 615, 000 323 2110 - 2432
2001 1, 770, 000 354 2433 - 2786
2002 1, 940, 000 388 2787 - 3174
2003 2, 130, 000 426 3175 - 3600
Series 3: For the purpose of financing
all or a portion of the cost
of construction of various
capital improvements, includ-
ing paving, sidewalks, curb
and gutter, storm sewers ,
lighting, landscaping, canopy
structures, and other struc-
tures on public rights-of-way,
and acquiring land required
for the plan of reconstruction
of the following area: Arthur
Godfrey Road from Biscayne Bay
to the Atlantic Ocean; Indian
Creek Drive from 39th Street
to 44th Street; and Collins
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•
Avenue from 44th Street to
46th Street.
$2, 500, 000
Said Series 3 bonds in the principal amount of
$2, 500, 000 shall be known as "1983 Arthur Godfrey Road Public
Improvement Bondd" and shall be numbered and mature as follows:
DUE NUMBER BOND
SEPTEMBER 1 AMOUNT BONDS NUMBERS
1984 120, 000 24 1 - 24
1985 130, 000 26 25 - 50
1986 145, 000 29 51 - 79
1987 160, 000 32 80 - 111
1988 175, 000 35 112 - 146
1989 190, 000 38 147 - 184
1990 205, 000 41 185 - 225
1991 230, 000 46 226' - 271
1992 245, 000 49 272 - 320 •
1993 275, 000 55 321 - 375
1994 300, 000 60 376 - 435
1995 325, 000 65 436 - 500
Series 4: For the purpose of making improve-
ments to the 21st Street Community
Center , including, among other
things, renovations to the existing
building, construction of a new
building, and related parking faci-
lities, and construction of the
Collins Canal/22nd Street Walkway
from Meridian Avenue to 22nd Street
along Collins Canal and eastward
along 22nd Street to the City' s
Beachfront Park and Promenade.
$2, 000, 000
Said Series 4 bonds in the principal amount of
$2, 000, 000 shall be known .as "1983 21st Street Community Center
Public Improvement Bonds" and shall be numbered and mature as
follows:
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DUE NUMBER BOND
SEPTEMBER 1 AMOUNT BONDS NUMBERS
1984 35, 000. 7 1 - 7
198540, 000 8 8 - 15
1986 45, 000 9 16 - 24
1987 50, 000 10 25 - 34
1988 55, 000 11 35 - 45
1989 55, 000 11 46 - 56
1990 65,000 13 57 - 69
1991 70, 000 14 70 - 83
1992 75, 000 15 84 - 98
1993 85, 000 17 99 - 115
1994 90, 000 18 116 - 133
1995 100, 000 20 134 - 153
1996 110, 000 22 154 - 175
1997 120, 000 24 176 - 199
1998 135, 000 27 200 - 226
1999 145, 000 29 227 - 255
2000 155,000 31 256, - 286
2001 175, 000 35 287 - 321
2002 190, 000 38 322 - 359
2003 205, 000 41 360 - 400
SECTION 3. The bonds maturing in the years 1984 to
1993, inclusive, shall not be redeemable prior to their stated
dates of maturity. The bonds maturing in the years 1994 to 2003,
both inclusive, shall be redeemable prior to their stated dates
of maturity, at the option of the City, from any funds legally
available for such purpose (i) in part, in inverse order of
maturities and by lot within maturities on September 1, 1993, or
on any interest payment date thereafter, and (ii) as a whole at
. any time on or after September 1, 1993, at the price of par and
accrued interest to the date of redemption, plus the following
premiums, expressed in percentages of the principal amount of the
bonds to be redeemed, if redeemed in the following periods:
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PERIOD REDEMPTION
(both dates inclusive) PREMIUM
September 1, 1993 - August 31, 1996 2%
September 1, 1996 - August 31, 1999 1%
September 1, 1999 and thereafter 0%
SECTION 4. 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 Bonds (Series 1983) " followed by a brief description
of the purpose, as hereinabove provided, and shall be alike in
form, except as to statement of Series , purpose, maturity dates,
interest rates and numbers.
SECTION 5. The Commission hereby approves the form of
Preliminary Official Statement, subject to such changes as may be
approved by the City Attorney, and the Notice of Sale presented
to it at this meeting and authorizes advertisement of the sale of
the bonds and release of the Preliminary Official Statement.
SECTION 6. The Commission hereby determines that the
bonds shall be sold on March 2, 1983.
•
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SECTION 7. That this Resolution shall be in force and
effect immediately upon its adoption.
PASSED and ADOPTED THIS 2nd day of February, 1983.
7/7
Mayor
Attest:
5)( a-caLAA1--<)
City Clerk
(SEAL)
FORM APPROVED
LEGIT DEPT..
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