Resolution 1341 11
RESOLUTION NO. 1341
A RESOLUTION OF TEE CITY COUNCIL
OF TR7 CITY OF MIAMI BEACH,
FLORIDA, ACCEPTING THE PROPOSAL
OF ELDREDGE AND COMPANY OF NEW
YORK CITY AND 'WRIGHT-WARLOW AND .
CO11PATdY OF ORLANDO, FLORIDA, FOR
THE PURCHASE OF $450,000.00 PUB-
LIC IMPROVEMENT BONDS AND NOT TO
EXCEED $550,000.00 1112PROVELENT
BONDS, TO BE DESIGNATED SERIES "X",
DATED JULY 1st, 1926.
WHEREAS, a proposal to purchase certain bonds to be issued
by the City of Miami Beach, has been presented to the City Council
of the City of Miami Beach, and which is in the words and figures
following:
May 28th, 1926.
To the Honorable Mayor & City Council,
City of Miami Beach,
Miami Beach, Florida.
Gentlemen:
In connection with the following bonds of your City,
to-wit : $450,000.00 Public Improvement Bonds (here-
tofore voted) dated July 1st, 1926, maturing in sub-
stantially equal annual amounts from two to twenty
years after their date, and not to exceed $550,000.00
• Improvement Bonds ( to be designated as Series "K" )
for street improvements (to be authorized by resolu-
tion of the Council) dated July 1st, 1926, maturing
in substantially equal annual amounts from one to ten
years, all of said bonds to be direct general obliga-
tion of your City, to bear interest at the rate of 6%
per annum, payable semi-annually, both principal and
interest to be payable at a bank in New York City. We
will, upon delivery of said bonds to us in New York
City, with full number of coupons attached and accom-
panied by the approving opinion of Messrs. Caldwell
and Raymond of New York, pay you $970,00 for each
$1,000.00 in bonds. lire will also pay accrued interest
from date of bonds to date of delivery to us.
It is understood that you are to take such steps as
may be necessary to the end that these bonds shall be duly
and legally issued and delivered to us without undue or
unnecessary delay. We are to be furnished. with complete
certified legal transcripts.
In consideration of our purchase of these bonds, it is
expressly agreed by the Council that no additional bonds
of your City are to be authorized, issued or offered
for sale prior to January 1st, 1927.
Se attach hereto our certified checks Nos. 4941 and 4942,
,, drawn on. and certified by tippieState Bank of Orlando & SOPPIM
Trust Company of Orlando, Florida, in the total sum of
$10,000.00, which checks ate to be held by you
uncashed as evidence of good faith on our part
in the performance of this agreement and to ac-
company the bonds when presented for delivery.
Respectfully submitted,
ELDREDGE AND COMPANY, NEW YORK CITY.
WRIGHT-WARLOW AND COMPANY, ORLANDO,
FLA.
BY (Signed) H. S. Wheeler
NOW, THEREFORE, BE IT RESOLVED BY 2HE CITY COUNCIL of the
City of Miami Beach, Florida, that said proposal be and the
same is hereby accepted and said bonds awarded to said bidders,
and the Mayor and City Clerk be and they are hereby authorized
to execute in behalf of this Council, the acceptance and agree-
ment to the proposal heretofore mentioned.
PASSED AND ADOPTED this 28th day of May, A. D. , 1926.
'resident of C ty council
ATTEST:
ity Clerk
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