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Resolution 556 _ r 1 .100 V RESOLUTION NO. 556 A RESOLUTION OF THE CITY COUNCIL OF THECITY OF MIAMI BEACH, ''LORIDA , AUTHORIZING THE ISSUANCE OF 3100 ,000. WATER BONDS , $14 ,000. BRIDGE BONDS , 0,000. SANITARY SEWER BONDS , 20 ,000. STORM SEWER BONDS, $40 ,000. FIRE STATION BONDS, r25,000. PARK BONDS , $18 ,000. WATER WAY IMPROVEMENT BONDS , AND $20 ,000. STREET PAVING BONDS. WHEREAS The City Council of the City of Miami Beach, Florida, passed on January lo, 1924, a resolution authorizing the issuance of bonds of said City in the sums and for the purposes hereinafter set forth, subject to the favorable vote of the duly registered and qualified voters of the City of Miami Beach, Florida, who are owners of and pay taxes on real or personal property within said City , at a special election which said resolution directed to be held on February 19 , 1924, and , WHEREAS , the said City Council on February 20, 1924 , canvassed the returns of the aforesaid election and found that a majority of the votes cast upon the bonds to be issued for each of said purposes was in favor of such issuance and de- clared the result of said election and canvass accordingly, NOW , ?HEREFO S, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA: Section 1. That pursuant to said election $ 01 ,000. negotiable coupon bonds of the City of Miami Beach, Florida, be issued under date of April 1 , 1924 , bearing interest at the rate of five and one-half per centum per annum, which interest shall be payable semi-annually on the first days of April and October in each year , and both the principal and interest shall be payeble in gold coin of the United States , of the present standard of weight and fineness at the United States Mortgage -1- & Trust Company in New York City , such bonds to be registerable as to principal in accordance with the endorsement which this resolution directs to be printed on said bonds , and that the City Clerk is hereby designated registrar for that purpose. Section 2. That the said bonds shall comprise eight distinct classes , each class distinguished from the remaining classes by the numbers assigned thereto as hereinafter in this resolution provided, and that the amount , purpose of issuance and maturities of each class shall be as follows , the day and month of all maturities to be the first day in April in the respective years stated: For extending and developing the City' s water works system, $100 ,000. maturing $1,000. annually 1925 to 1932 inclu- sive; $2 ,000. annually 1933 to 1936 , inclusive , and 412,000. annually 1937 to 1943, inclusive. For erecting a bridge within said City over Collins Canal between the East and West lines of Meridian Avenue , as shown on a plat recorded in Plat Book b , at Page __ of the Public Records of Dade County , extended North across Col- lins Canal, $14,000. maturing $1,000. annually 1925 to 1938 inclusive. For paying the City' s share of the cost of construct- ing sanitary sewers , $50 ,000. maturing $1 ,000. annually 1925 to 1932 inclusive; $4,000. annually 1933 to 1942, inclusive, and : 2,000. 1943. For paying the City' s share of the cost of construct- ing storm sewers , $20 ,000. maturing $1,000 annually, 1925 to 1936, inclusive, and 42,000 annually, 1937 to 1940, inclusive. For the erection of a fire station, equipping and furnishing the same with a fire engine and other fire fighting apparatus , and acquiring a site therefor , $40 ,000. maturing -2- • i ,11 ,000. annually 1925 to 19304 inclusive; $2,000. annuafly ,,1931 to 1935, inclusive , and ;,*x4,000. annually 1936 to 1941 inclusive. For developing and improving the City' s public parks , $25,000. , maturing $1 ,000. annually 1925 to 1933, inclusive and $2,000. annually 1934 to 1941, inclusive. For constructing a butlkhead along the North side of Collins Canal , a water way within said City, from the Alton Road bridge East to the West golf course bridge , $18,000. maturing $1,000. annually 1925 to 1936 , inclusive , and $2 ,000. annually 1937 to 1939 , inclusive. For paving streets within the Oity, $40,000. maturing $1,000. annually 1925 to 1930 , inclusive; $2,000. annually 1931 to 1935 inclusive , and :4,000. annually 1936 to 1941, inclusive. Section 3. That all of the bonds herein authorized shall be in the denomination of 11 ,000. and shall be designated "Public Improvement Bonds" and shall be alike in form, except as to dates of maturities and numbers , and that the form of said bonds , coupons and registration endorsement and validation en- dorsement , as well as the manner of execution of said bonds and coupons , shall be substantially as follows : No. $1 ,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA , COUNTY OF DADE CITY OF MIAMI B EA C H PUBLIC IMPROVEMENT BOND. The City of Miami Beach, in Dade County , 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 first day of April, 19 , the principal sum of ONE THOUSAND DOLLARS with interest thereon at the rate of five and one-hale per centum per annum, payable semi-annually on the first days of April and October 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 gold coin of the United States , of the present standard of weight and fine- -3- , ness at the United States Mortgage & Trust Company in the City of New York. 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 pledged. This bond is one of a series issued by said City of Miami Beach 2or the purpose of paying the costs of certain per- manent municipal improvements as set forth on the reverse of this bond, under the authority of and in full compliance with the City charter , and has been authorized by the vote of the majority of the qualified electors of said City, who are owners of and pay taxes on real or personal property within said City, voting at an election legally called and held. It is hereby certified and recited that all acts , con- ditions 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 Florida , have happened, exist and have been performed; that provision has been made for the levy and col- lection 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 indebted- ness of said City , including this bond, does not exceed any con- stitutional or statutory limitation thereon. This bond may be registered as to principal ih acccord- ance with the provisions endorsed hereon. IN WITNESS WHT1EOF said City of Miami Beach has caused this bond to be signed by -its Mayor and City Clerk under its corporate seal and attested by its Auditor , and the interest coupons hereto attached to be signed with the fac simile signa- ture of said Clerk, all as of the first day of April , A. D. 19 24 . -4- Po Mayor . ATTEST: City Clerk. City Auditor . ENDORSEMENT CONCERNING VALIDATION. Validated and confirmed by decree of the Circuit Court for the Eleventh Judicial Circuit of the State of Florida in and for Dade County on , 1924. Clerk Circuit Court , Eleventh Judicial Circuit , Dade County, Florida. ENDORSEMENT CONCERNING REGISTRATION. This bond may be registered as to principal in the bond register of the City of Miami Beach, notation of such re- gistration to be made hereon by the City Clerk or such other officer or agent as may be designated Registrar by a resolution of the governing body of said City , and may thereafter be trans- ferred on such register by the registered owner in person or by attorney , upon presentation to the bond Registrar , accompanied by delivery of a written instrument of transfer in a form ap- proved by the bond Registrar and executed by the registered owner. Such transfer may be to bearer , after which this bond shall be subject to successive registration and transfers as before. Notwithstanding the registration of this bond the coupons shall remain payable to bearer and will be transferable by de- livery. Date of Registration. Name of Registered Registrar . Owner. -5- 0 4 . r ♦ v Section 4. That after the preparation of said bonds , with proper maturities , as provided by this resolution, the said bonds and coupons annexed thereto shall be stamped with the numbers 1 to 307 , inclusive , in the order of maturities; the nine bonds maturing in 1925 to bear the numbers 1 to 9 , inclu- sive , and the nine bonds maturing in 1926 to bear the next suc- cessive numbers , 10 to 18 , inclusive , and so on; and that thereupon there shall be assigned to the water works bonds the lowest numbers of bonds having the maturities herein designated for water works bonds , after which there shall be assigned to the , 1 remaining seven classes of bonds in the order in which said bonds are described by Section 2 hereof , the lowest available numbers of bonds having the maturities herein designated for 1 such classes respectively, and on the reverse of each bond there shall be printed a statement showing the amount , numbers and maturities of such eight classes of bonds ; and a copy of such statement shall be recorded in the bond record of the City; that the purpose of the provision made by this section is to place said eight issues of bonds in more marketable form and to save the expense that would be necessitated by printing eight dif- ferent forms of bonds , and to simplify the records of the City, at the same time preserving complete separation and identifi- said cation of each of/ eight distinct issues of bonds. Section 5. That in each year while any of said bonds shall be outstanding there shall be levied on all taxable pro- perty within the City a direct annual tax sufficient to pay the principal and interest falling due in the following year upon each of said eight series of bonds , which taxes shall be col- lected as other City taxes , and shall be used for no other pur- pose than the payment of such principal and interest. Section o. That the City Attorney is hereby author- -6- i AK I RESOLUTION NO. 661 A RESOLUTION OP THE CITY COUNCIL OF THE CITY OP MIAgI BEACH, FLORIDA, TO MEM TH& TITLE AND TEXT OF RESOLUTION NO. 566, PASSED FEBRUARY 20, 1924, AUAUIZING CERTI,IN BONDS. 41.1aXAS, Resolution No. 556, passed February 20, 19h4, authorising oertain bonds of the City of Miami Beach, contains certain errors which should be corrected. NO /, THREPORE„ '3Y : ;.LY COUNCIL OF THE CITY 0? ;41. .1 BEACH, PLO,JDA: Section 1. Thut the Title of suid resolution No. 556 be changed by substituting 440.000 for 020,000 tis thn amou:it o street pavinc '!Amds, so that said title, se amended, shall mud followit A RESOLUTION OV THE CITY otiticri. OP TWI CITY OFIAJAMI BEACH. 'DORM, AUTHUIZI30 TIL ISSUANCE OP $10e4 r WAM IONDS, 44,000. LJ3 $50,000. SANITARY SEViER 3O 11)3, 420,000. 4roala bEW3R JOJD8„ 04,,000. Pali; ST TIOA QND3, $25,000. i,ARK BONDS, 016, 000. 1142!10V -. Mn T,IONDU i.ND ;140,000. STR7i2T ;?AVIS0 BONDS. Section 2. Thz.,t Section 2 o said liosolution be and the same Is hereby a. ended by inserting the .)rds "and in- :: stllation of b fire alarl system" in the clause of said eotion which describes the fifth irrwrovement for which bowls are to issued to thet said olLusc, as so weuei, aball read as follows: For th ereetion of a firs statio , equipping and furnishing the same with is fire engine and other fire fighting sPParatus and acquiring a site therefore, and installation of a fire alarm system, 340,000 maturing 41,000 annually 1Y213 to 1820, inclualvn; 020)0 annually 1951 to 1935, inclusive, and 04,000 annually 19Z6 to 1941, inclurivn. Section 3. That said Resolution No. 556 be and the i,:ane is hereby tmended by striking from Sect: on 4 thereof the words "the nine 3ends maturing in 1926 to bear the numbers 1 to 9 Inclusive, and that niio bonds maturing in 1926 to bear the next successive numbers, 10 to 18 inclusive, and so on" and by insert].ng in lieu Hereof the words "the eight bo,ids maturing in 1925 to beer the nuf7Jers 1 to 8 inclusive, and th' eight 'ix)nds laturing in 192& to beta. the next suovensive numbers, 9 to 16 inclusive, end no 0.i". Section 4. Thut this Aesolution shall be in force .nd effect at and after its oassage. PASSED iJ OPTED this 14th day of troh, A. D. , 19A. ( Signed) John H. Levi '..'-mideat City uouncil AITTsT. (Signed) _U. W. Tomlinson (SEAL) City Clerk V3 o o o • 0 0 c '-4 o O i-- . H 0 al G� CJ t-=; . 0 Pi • N• 0' G"1 O O 0 0 et-t 0 CI U) or-I Vi fzi 0t<) fol • 0 4-5 '‘Q o <-4 g a) 8 1-4 . 4-3 g co o r-I14 CO Ca A 0 1-1 CO N-1 ' 0 0 f4 4-) 0 a 9 Q . b ized but not required to proceed to have said bonds validated by the Circuit Court , but in the event he does not so proceed then the validation endorsement herein provided to be printed upon said bonds shall not be there printed. Section 7. That this resolution shall be in force and effect at and after its passage and approval. PASSED AND ADOPTED this 20thday of February A. D. 1924. President o ity Council. ATTEST: . 6..%�'�',.._,., -E---e----=- ef- City Clerk.