Resolution 125 1111
{Q.eso Wvrtori 12. s
RESOLUTION AUTHORIZING THE ISSUANCE OF
40,000 WATER BONDS AND X25,000 FIRE
DEPARTMENT BONDS OP THE CITY OF MIAMI
BEACH AND PROVIDING FOR THE LEVY OF
TAXES FOR THE PAYMENT OF THE PRINCIPAL
AND INTEREST THEREOF.
WHEREAS, at a special election legally called and
held on Saturday, August 14th, 1920, more then a majority
of the duly registered and qualified voters of the City
of Miami Beach votin, thereat ,voted in favor of the is-
suance of 40,000 bonds of said city for the purpose
of developing, extending and maintaining the Water Works
System within its corporate limits and more than a ma-
jority of said voters voting thereat , voted in favor
of the issuance of v25,000 Bonus of said city for the
of establiahinz. equipping dna maintaining a
fire department within its corporate limits; and
WHEREAS, it is deemed necessary and advisable by
the City Council of the City of Miami Beach that all
of the said bonds shall forrvith be issued and sold and
that the two issues be consolidated for the sake of
convenience and economy, but so consolidated that the
particular bonds issued for one purpose may be dis-
tinguished from the particular bonds issued for the
other purpose.
NOW THEREFORE, be it resolved by the City Council
of the City of Miami Beach, Florida:
Section 1. That the negotiable coupon bonds of the
City of Miami Beach are hereby directed to be issued
and sold in the aggregate amount of x50,000 for the
purpose of developing and extending the existing Water
Works System within and for said city, such bonds to
consist of 50 bonds of ti1,000 each numbered 1 to 50
both inclusive, dated January 1 , 1921 and maturing in
the order of their numbers, lowest first, 2 ,000 Janu-
ary 1 , 1923 to 1937 and 1:5,000 January 1, 1938 to 1941,
all inclusive.
Section 2. That the negotiable Coupon Bonds of the
City of Miami Beach are hereby directed to be issued and
sold in the aggregate amount of x; 25,000 for the purpose
of establishing and maintaining a fire department within
and for said city, by the erection of a suitable build-
ing therefor and the purchase of fire fighting equipment ,
such bonds to consist of 25 bonds of x1,000 each, number-
ed 51 to 75, both inclusive, dated January 1, 1921 and
maturing in the order of their numbers, lowest first,
<;1,000 January 1, 1923 to 1935 and 0,000 January 1,
1936 to 1941, all inclusive.
Section 3. That all of the said bonds aggregating
.-44em,C7o o3naii baser intc,rGQt at 6j9 per annum, payable
semi-annually on the first days of January and July of
each year. Both principal and interest shall be pay-
able at the United Statesortgage & Trust Company in
the City of New York in gold coin of the United States
of the present standard of weight and fineness.
Section 4. That ail of said bonds shall be signed by
the Mayor abd Clerk of said city and attested by the
City 1uditor and sealed with the corporation seal and
the interest coupons thereto attached shall be signed
by the City Clerk, whose signature upon such coupons
may be in fac simile; and said bonds and coupons shall
be in substantially the following form:
X1,000.00 UNITED STATES 02 AMERIrCANO.
State of Florida, County of Dade
City of Miami Leach,
Public Improvement Bond
(Bonds numbered 1 to 5u are rater bonds and
Bonds numbered 51 to 75 are Fire Department
Bonds )
Issued under Section 37, City Charter.
•
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 on the day of 19 , the
principal sum of ONE THOUSAND DOLLARS, with interest there-
on at the rate of six per centum per annum, payable .semi-
annually on the first days of January and July in each year ,
upon the presentation and surrender of the annexed interest
coupons as they severally become due. Both principal and
interest of this bond are payable in gold coin of the United
States of the present standard of weight and fineness at
the United States Mort age & Trust Company, in the City
of New York, and State of New York.
This bond is one of a series of seventy-five bonds
of like date , aggregating Seventy-Five Thousand Dollars ,
numbered from 1 to 75, both inclusive, of which Bonds num-
bered 1 to 50, aggregating Fifty Thousand Dollars are is-
sued for the purpose of developing and extending the ex-
isting Water Works system within and for said City and
Bonds numbered 51 to 75 , aggregating Twenty-Five Thousand
Dollars are issued for the purpose of establishing, and
equipping a fire department within and for said City.
This bond is issued under the authority of and in full
compliance with the Charter of the said City, being Chap-
ter 7672 Acts of the Legislature of Florida . for the
year 1917 and the vote of a majority of the duly register-
ed and qualified voters of said City, voting separately
upon each of said two classes of bonds at a special
election duly called, held August 14th, 1920, and reso-
intionzii.uiv pat;eed by the City Council of said City.
For the prompt payment hereof, both principal
and interest as the same shall fall due , the full faith,
credit and resources of said City of Miami Beach are
hereby irrevocably pleuged.
It is hereby certified and recited that all acts,
conditions and things required to exist or to be done
precedent to and in the issuance of this bond by said
charter and the laws and constitution of said State , have
duly happened and been performed; that provision has
been made for the levy and cowlection of a direct annLal
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.
IN WITNESS WHEREOF, said City of Miami Beach has
caused this bond to be signed by its Mayor and Clerk,
under its corporate seal, and attested by its Auditor,
and the interest coupons hereto attached to be signed with
the fac simile signature of said Clerk, all as of the
first day of January 1921
Mayor
ATTEST. City Clerk.
City Auditor
C OUP O N
No 40.00
On 1,19
' Ili CITY OF BEACH,rLORIDL
will pay the bearer at the United states Lortgage & Trust
Company, New York City, the sum of Thirty Dollars in gold
coin as provides in and fo_ the interest then due on its
Public Improvement Bopi ,Aated January 1, 1922.
City Clerk.
Section ,S. That on the reverse of each bond , after vali-
dation thereof by the Circuit Court , there shall be printed
a form for the certificate of validation in substantially
the following words:
Validated snd confirmed by decree of the
Circuit Court of the ileventh Judicial Circuit of the
State of Florida in and for the County of Dade
19
Clerk of the Circuit Court,
Eleventh Judicial Circuit,
State of Florida ,
in and for Dade County.
Section 6. That there shall be and hereby is levied upon
all the taxable property in said City of i Miami Beach in
each year while any of said Water Bonds n"_mbered 1 to 50
are outstanding, a direct annual tax sufficient to pay the
principal and interest of said Water Bonds as the same
shall become cue and payable under this resolution.
Section V. That there shall be and hereby is levied upon
11 the taxabl;: property in said City of idiami Beach in
each year while any of said Fire Department Bonds numbered
51 to 75 are outstanding a direct annual tax sufficient
to pay the principal and interest of said Fire Department
Bonds as the same shall become dL:e and payable under this
resolution.
sections. That the taxes herein levied and directed to be
levied shall be collected as other city taxes and shall be
used for no other purpose than the payment of the principal
and interest of the bonds for which they are herein provided.
Section That none of the bonds herein authorized shall
be issued until they shall have been validated in accordance
with the laws of Florida and it is hereby directed that a
certified copy of this resolution shall be attached to the
pe tition for validation.
ADOPTED this 17tri uay of 1Toveiaber, A.D. ,1920.
P-2er,icient of City Council.
Attest: 6(//1
City Clerk
APPROVED this 17th day of Kovemb-er,A.D. ,1920).
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