Resolution 1424 r, _.
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RESOLUTION NO. 1424
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH,
FLORIDA:
That the proposal of Wright , Warlow & Company, of
Orlando, Florida, and Eldredge & Company of New York City, New
York, for the bonds mentioned in that proposal and which have been
authorized by this City Council, said proposal being in the words
and figures following:
"June 21 , 1926.
Mr. C. W. Tomlinson,
City Clerk,
Miami Beach, Florida.
Dear Sir:
Wq make the following offer for bonds of the
City of Miami Beach, Florida, this offer being for all
of said issue and not for one or more less than all.
For $488,000. Improvement Bonds, Series
K, maturing $47 ,000. July 1, 1928; $49,000
July 1, 1929 to 1937 , inclusive, we will
ANY $473,360.
For $350,000. Water Works Bonds , maturing $17 ,000.
July 1, 197 to 1931, inclusive ; 18,000.
July 1, 1932 to 1936, inclusive ; 17,000.
July 1, 1937 to 1941, inclusive ; 18,000.
July 1, 1942 to 1946 , inclusive, we will
pay 339,500.
For 810,000. Public Park Bonds, maturing
51,000. July 1, 1927 , 1929 , 1931, 1933, 1935,
1937, 1939 , 1941, 1943 and 1945 , inclusive,
we will pay 9,700.
For 413,000. Fire Department Equipment Bonds,
maturing $1,000. July 1, 1927 , 1929 , 1931
and 1933; $2,000. July 1, 1935, 1937 and
1939 and $1,000. July 1, 1941, 1943 and
1945, we will pay 12 ,610.
For $40 ,000. Bridge Bonds, maturing $2,000.
July 1, 1927 to 1946 , inclusive , we will
pay 38,800.
For 72,000. Street Paving Bonds, maturing
3,000. July 1, 1927 to 1931, inclusive ;
4,000. July 1, 1932 to 1936 , inclusive;
3,000. July 1, 1937 to 1940, inclusive ;
$5,000. July 1, 1941 and 1942; 44,000.
July 1, 1943 to 1945 , inclusive ; and
$3,000. July 1, 1946 , we will pay 69,840.
For $25 ,000. Sanitary Disposal PlantBonds,
maturing $2 ,000. July 1, 1927 to 1931,
inclusive ; and $1,000. July 1, 1932 to
1946 , inclusive , we will pay 24,250.
all of said bonds to bear interest at the rate of six per
cent. per annum, payable semi-annually, said interest and
• * the principal thereof payable at the office of the United
States Mortgage & Trust Comphnt of New York City, and the 1
validity thereof to be certified at the timekof the purchase
by Messrs. Caldwell & Raymond of New York C1ity.
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. ..
In addition thereto we will pay accrued interest on
the principal thereof to date of delivery and will accept de-
livery at any bank in New York City.
We attach hereto our certified checks Nos. 4941 and
4942, drawn on and certified by the State Bank of Orlando and
Trust Company of Orlando, Florida, payable to the order of the
City of Miami Beach, Florida, in the total sum of $10,000.
which checks are to be held by you uncashed as evidence of
good faith an our part in the performance of this agreement
and to accompany the bonds when presented for delivery, or are
to be retained as and for liquidated damages in case we fail
so to take up and pay for said bonds.
Respectfully submitted,
ELDREDGE & COMPANY, NEW YORK CITY,
N. Y.
WRIGHT, WARLOW & COMPANY, ORLANDO,
FLA.
By ( Signed) H. S. WHEELER"
be and the same is hereby accepted and the said bonds are hereby sold
at private sale to said Wright , Warlow & Company and Eldredge & Company;
that this City Council, by unanimous vote of the members present , do
hereby resolve to sell said bonds at private sale and tYa.t the bid of
said Wright, Warlow & Company and Eldredge & Company is the best price
deemed obtainable for said bonds; and that such price is not less than
ninety-seven cents on the dollar and accrued interest and that of the
above bonds said water works, public parks, Fire Department Equipment ,
Bridge , Street Paving and Sanitary Disposal Plant bonds , which were
authorized by Resolution No. 1342 of this Council shall hear interest
at 6% per annum.
PASSED AND ADOPTED this 23rd day of June , A. D. , 1926.
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ATTEST: .
•
ity Clerk
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