Resolution 1566 nee
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RESOLUTION NO. 1566
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH,
FLORIDA:
That the proposal of Wright, Warlow & Company, of Orlando,
Florida, for the bonds mentioned in that proposal and which have
been authorid by this City Council, said proposal being in the
words and figures following:
"March 16th, 1927.
Mr. C. W. Tomlinson,
City Clerk,
Miami Beach, Florida.
Dear Sir:
We make the following offer for bonds of the City of
Miami Beach, Florida, - for
285,000.00 Public Improvement Bonds for Jetties,
bearing interest at the rate of 6% per
annum, dated March. 1st, 1926, maturing
0.5,000.00 on March 1st in each of the
years 1928 to 1946, inclusive, we will
pay . • • • • — • • • • • • • • • • • • • • • • .$275,450.00.
$ 90,000.00 Public Improvement Bonds for Dock and
Channel, bearing interest at the rate of
6% per annum, dated July 1st, 1926, ma,-
turing $4,000.00 on July 1st, in each of
the years 1928 to 1932, inclusive, and
$5, 000.00 on July let, in each of the
years 1933 to 1946, inclusivc, we will
pay . • • • • • • • • • • . • • • • • • • • • . . • 87,300.00.
The said bonds being 'authorized respectively by Resolutions
No. 1298, passed and adopted February 24th, 1926, and No.
1342, passed and adopted June 2nd, 1926, interest being
payable semi-annually, both principal and interest being
payable at the office of the Ullited States Mortgage & Trust
Company, New York City and said bonds to be accompanied upon
delivery by the approving opinion of Messrs. Caldwell &
Raymond.
In addition thereto we will pay accrued interest on the prin-
cipal thereof to date of delivery and will accept delivery at
a bank in New York City.
We agree to hand you our certified check in the amount of
$3750.00, Which check is to be held by you uncashed as evi-
dence of good faith on our part in the performance of this
agreement and to accompany the bonds when presented for de-
livery or is to be retained Icy you as and for full liquidated
damages in case we fail so to take up and pay for said. bonds.
Respectfully submitted,
WRIGHT, WAPLLOW & COMPANY.
By (Signed) H. S. Wheeler "
utNis
be and the same is hereby accepted the said bonds are hr sold •
at private sale to said Wriglat, Warlow & Oomany; that this City Council
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by unanimous vote of the members present, do hereby resolve
to sell said bonds at private sale and that the bid of said
Wright, Warlor & 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 both
the $2851000.00 Public Improvement Bonds, dated March 1st,
1926, and the $90,000.00 Public Improvement Bands, dated July
1st, 19260 authorized respectively by Resolution No. 1298,
passed and adopted February 24-th, 1926, and by Resolution No.
1342, passed and adopted June 2nd, 19261 shall bear interest
et the rate of 6% per annum.
PASSED AND ADOPTED this 16th day of March, A. D., 1927.
President of City Council
ATTEST:
City Clerk
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