Resolution 287 •
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RESOLUTION No. 287
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF MIAMI BEACH, FLORIDA, AUTHORIZING THE IS-
SUANCE OF $107 ,000.00 OF IT PROVEMENT BONDS IN
ONE SERIES, WHICH SERIES SHALL BE KNOWN AND
DESIGNATED AS SERF '3", FOR THE COST OF MORE
THAN ONE HIGHWAY IIPROVETVIENT, SAID BONDS TO BE
DATED JULY 1, 1922, and ISSUED UNIR THE AUTHOR-
ITY CONFERRED AND CONTAINED IN SECTION 30 OF THE
CHARTER OF TH1+i CITY OF MIALZ BEACH, FLORIDA, CON-
TAINED IN CHAPTER 7672 of THE SPECIAL ACTS OF THE
LEGISLATURE OF FLORIDA ENACTED IN THE YEAR 1917.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLOR-
IDA.:
Section 1: THAT ;REAS Section 30 of the Charter of the
City of k+iiami .beach, Florida, authorizes the City Council of said
City, by ordinance or resolution, to issue bonds of said City for
the payment of the cost of any two or more improvements or any
part of such costs and for the reimbursement of any fund of said
City from which any part of such cost has heretofore been paid
in an amount not greater than the estimate of cost, including the
estimate of the cost of incidental expenses, and not in excess of
the contract price and the estimated cost of such incidental ex-
penses, and
Section 2: wILEREAS the said City Council has heretofore
passed and adopted resolutions ordering local improvements under
Section 29 of the Charter and directing the City Era,? . neer to pre-
pare and file with the City clerk plans and specifications of
said improvements and an estimate of the cost thereof, including
an estimate of the incidental expenses, etc. , and
Section 3: WHEREAS the City Engineer of said City has,
era r -P +11 s�
Section 4: WHE SAS subsequent to the filing of said esti-
mates of cost the said City Council adopted resolutions that the
City Clerk cause to be posted in accord with law a notice stating
that at a meeting therein specified, the City Council would hear .
remonstrances of all persons interested to the confirmation of said
several resolutions ordering said improvements, and
Section 5: WHEREAS thereafter said resolutions ordering said
improvements were , after advertisement in accord with law that said
City Council would hear the remonstrances of all interested persons
to the confirmation of said resolutions and after a due hearing there-
on, confirmed by the said City Council , and
Section 6 : WHEREAS no contract or contracts have been let or
made for the construction of all or any of said improvements ordered
by said resolutions, and
Section 7: WHEREAS said City Council intends to sell or advertise
said bonds for sale prior to the making of a contract or contracts for
the construction of any of said improvements , and WHEREAS no one of said
improvements to which reference is above or hereafter made is a sani-
tary sewer improvement, and
Section 8: dRER.:EAS the following is a list of the improvements
ordered and to which reference is hereinabove Wade, which list em-
braces the designation by which said improvements are known, the
dates of the passage of said resolutions ordering the same , the
dates of the confirmation of said several resolutions ordering said
improvements and the amount of said Engineer' s estimates of the cost
of said several improvements , including the estimates of the cost
of incidental expenses of each of said several improvements:
=
FOR
Page 2.
DESIGNATION OF DATES OF RESOLUTION S DATE OF KESOLU- ENGINEER' S ESTIi'. TE
IMPROVEMENTOt�k.�rtiNG THE SAMETION CON 'iRt�ilNG COST OF IM- INCIDEN-
PROVEMENT TAL COSI'
District E-13,
Highway improve-
ment H-13 August 17, 1921 July 21, 1922 7,079.25 4 707.93
District ti-14,
highway improve-
IT
IT TT n tt 13,771.70 1,377.17
District H-15,
Highway Improve-
ment
mprove-
es.1t H-15 n n n TT ft IT 7,790.10 779.01
District H-17,
highway improve-
ment ti-17 " " TT " IT II 5,097.00 509.70
District r.-16,
Highway improve-
ment H-18 TT TT n ft n n 2,889.00 288.90
District H-19,
Highway improve-
ment h-19IT TT It " " If IT 1,685.00
168.50
District H-21,
Highway imp ove-
went H-21 Sept. 21, 1921 " " "n 5,130.00 513.00
District H-22,
highway improve-
ment H-22 rt '� VT
n n ft 2,046. 50 204.65
8,903.50 890.35
District ti-20,
highway improve-
ment H-20 If rt fl
►t n It
456.00 36.48
District t1-16,
Highway improve-
ment H-16 July 5, 1922 TT If tt
21,491.80 2,149.18
District SK-6,
Sidewalk improvement
SK-6 June 7, 1922 July 5, 1922
1,687.50 168.75
District SK-7,
Sidewalk improve-
ment SK-7 r► n ft If IT TI
6,622.20 662.22
District SR-7,
Sewer improve-
went SR-7 n n tt ,i
IT n 13,019.25
1,301.92
Section 9; That for the purpose of paying a part of the cost of
said improvements and the incidental expenses thereof, there be
issued the negotiable coupon bonds of the City of iiiiami beach, Florida,
in the aggregate amount of Une hundred Seven Thousand Dollars, which
bonds shall be denominated tiiunicipal improvement bonds, Series IT", and
shall consist of One #unfired Seven bonds of the denomination of une
Thousand Dollars each, numbered from 1 to 107, both inclusive, which
bonds shall bear the date of July 1, A. D. , 1922, and which shall bear
interest at the rate of six per centum per annum, which interest shall
be payable semi-annually on the .First days of January and July of
each year and such interest shall be evidenced k,7 coupons attached
to said bonds and both the principal and interest of said bonds shall
be payable in gold coin of the united States of America of the present
standard of weight and fineness at the office of the united estates Iiort-
gage
r
T-
Page 3.
gage & Trust Company, in the City of New York, and said bonds shall
mature and be payable as follows:
Bonds numbered 1 to 8, inclusive, aggregating 4 8,000.00 , on July 1, 1924;
" n 9 to 16, IT " 8,000.00 " " 1, 1925;
rr " 17 to 24, IT " 8,000.00 " " 1, 1926;
" 25 to 33, " " 9,000.00 " " 1 , 1927;
r► " 34 to 42, 'r " 9,000.00 " " 1, 1928;
if " 43 to 52, If " 10,000.00 " 'r 1, 1929;
" " 53 to 62, 'r Gr 10,000 .00 " " 1, 1930;
rr " 63 to 73, " 'T 11,000 .00 " `' 1, 1931;
" 'r 74 to 84, " " 11 ,000.00 " " 1, 1932;
IT " 85 to 95, " " 11,000.00 " " 1, 1933;
rr It 96 to107 , ,1 " 12,000.00 " " 1, 1934;
Section 10: That each of said bonds shall be signed by the Mayor
and Clark, and attested by the Auditor of the City of tiiiami Beach,
Florida, and shall be sealed with the City Seal of s aid pity and the
coupons attached thereto shall be signed by the Cit Clerk , whose
signature upon such coupons may be in facsimile a nl.; one of said bonds
shall any option of prior redemption be reserved.
Section 11: The form of said bonds and coupons shall be sub-
stantially as follows:
uiviTE1) STATES OF AMERICA
STATE oe.bWhINA COUN'T'Y W' DADE
CITY OF MIAMI BEACh
MutdiCIPAL uvPRO VEM. T BOND
SERIES "E"
County of Dade and State o f Florida, is justly`indebted and for
value received hereby promises to pay to the nearer on duly 1, A. D. ,
19 , the principal sum of One Thousand .Collars, together with
interest thereon at the rate of 6 per centum per annum, payable
semi-annually on the First days of danul ry and July of each year
upon the presentation and surrender of the annexed interest cou-
pons as they severally become due. .Both the principal and interest
of this bond are payable in gold coin of the united States oif America
of the present standard of weight and fineness at the united States
Mortgage & Trust Company in the City of tgew York.
This bond is one of a series of 107 bonds of like date aggregating
One hundred Seven Thousand Dollars and is issued for the purpose of
paying a part of the cost of improvements referred to on the re-
verse side of this bond. This bond is issued under the authority
within the limitations of and in full compliance with the Charter
of said City and in particular Section 30 thereof and ±resolutions
numbered 190, 191, 192, 194, 195, 196, adopted August 17, 1921;
Resolutions numbered 201, to 203, 205 to 207, 209 and 210 , adopted
-September 21, 1921; Resolutions numbered 214 and 215, adopted
October 5, 1921; Resolutions numbered 235 to 238, inclusive,
adopted June 7, 1922; Resolutions numbered 246 and 248, 250, 251
and 258 , adopted June 21 , 1922; Resolutions numbered 283, 284, 271
and 272 and 279, adopted July 5, 1922; Resolutions numbered 245
adopted June 7, 1922; Resolutions numbered 258 to 269 , inclusive,
adopted July 21 , 1922, all adopted by the City Council of said
City.
For t he prompt payment hereof both prine ipal and interest as the
same shall become due, the full faith, credit and resources of the
said City of Miami Beach are hereby irrevocably pledged to the appli-
cation to said payment.
IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and
things required to be done, exist and be Ie rformed precedent to
and in the issuance of this bond have been done, exist and have
Page 4.
been performed in due form and time as required by the Charter of
said City, the constitution and laws of the State of Florida; that
said City Council is authorized and required. by Section 31 of
said Charter to levy an annual special tax upon all taxable prop-
erty within said city over and above all taxes authorized or
limited by law or by the Charter of said City, sufficient to pay
the interest and principal of said bonds at their several dates
of maturity and that the total indebtedness of said City, in-
cluding these bonds, does not exceed any constitutional or statu-
tory limitation.
IN WITNESS WHEREOF the said city of Miami Beach, Florida, has
caused this bond to be signed by its Mayor and clerk, attested
by its Auditor and sealed with its seal , and the interest coupons
attached hereto to be signed with the facsimile signature of the
Clerk of said City, all as of the First day of July, A. D. , 1922•
CITY OF MIAMI BEACH, FLORIDA
&ft144/
Clerk
ATTEST:
Auditor
C OUPO N
The City of Miami Beach, Florida, will pay to the Bearer at the
United States Mortgage & Trust Compankr in New York City the sum
of Thirty Dollars in gold coin as provided in and for the interest
due on its Municipal Improvement Bond, aeries 'rt'_:", dated July 1,
1922, and numbered
Clerk
Section 12: That for the purpose of paying the principal
and interest of said Bonds as the sans shall become due, there
shall be and is hereby levied upon all taxable property within the
City of Miami Beach, Florida, a direct annual tax in each year
while any of said bonds shall be outstanding sufficient to meet
the payment of the principal and interest thereof maturing in the
following year, the proceeds of which taxes, atter payment of
accruing interest upon said bonds, shall be paid into a fund which
is hereby created and denominated "Local Improvement Bond Fund
Number Five", which shall be used for no other purpose than for the
payment of principal of such bonds as they mature, provided, however,
that the amount of such annual tax levied may be reduced by the
amount contained in said Local Improvement Bond Fund and by the
amount of assessment actually collected and then remaining in any
special assessment fund or funds applicable to said bonds.
Section 13: This resolution shall be in force and effect
immediately upon its passage and approval.
Section 14: That said bonds be sold as early as possible accord-
ing to law.
Passed and adopted this 2nd day of August, A. D. , 1922.
President City Council
Page 5.
ATTEST: �J /
. � Gam'✓ '.' �/ �--Z�--�--�-i�---�-�.-i
ity Clerk
Approved this 2nd day of August, A. D. , 1922.
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