Resolution 2018 RESOLUTION NO. 2018
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BE IT asoL: BY THE CITY COUNCIL OF THE CITY OF =AEI
BEACH, FLORIDA:
That the oroposal of The First National Bank of Miami ,
of Miami , Florida, 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 29 , 1929
Mr. C. 7. Tomlinson
City Clerk
Miami Beach , Florida.
Dear Sir:
*7e make the following offer for Bonds of
the City of Miami Beach described in the attached
notice , which is hereby made a part of this bid ,
PS follows:
For 103 ,000 Bridge Bonds , we will pay for
Bonds , $ 99 ,910.
For 4 45 ,000 Water Bonds , which are to be issued
in the same approximate maturities as the 4S5 ,000
Water Bonds called for on the attached notice , we
rill pay for 6% Bonds , 1-V3 ,650.
In addition thereto we will pay accrued
interest to date of delivery, and will accept de-
livery at National City Bank , New York , on or
about July 17 , 1929.
We enclose herewith our Cashier' s Check
for 2 ,871. 20 , being 2c7,; of the pEr value of bonds
being bid for , payable to the City Clerk of Miami
Beach, which enclosure is to be returned to us if
this bid be not accepted , but otherwise to be de-
posited by said officer and when the bonds are de-
livered and paid for under the terms of this, bid,
is to be considered as an advance part payment
therefor , or is to be retained as and for liquidated
damages in case we fail so to take up and pay for
the bonds.
Kindly advise us regarding the above as
soon as possible.
Yours very truly,
THE FIRST NATIONAL BANK OF MIAMI
Emerzjlinn
EF:ER Vice President .
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ADVERTISEMENT , .
i 4 255 ,000
CITY OF MIAMI BEACH, FLORIDA
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OLD BONDS
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Sealed bids will be received by the City Councii , ad-
dressed to the undersigned, and marked "Proposal for
Bonds,n until 10: 00 o' clock A. M. , June 26th, 1929 , for •
the following1Donds of the City of Miami Beach: ,
4255 ,000 Public,. Improvement Bonds ,(part of an author-. •
ized issue of :42 ,654 ,000 , heretofore validated by decree
of the Circuit Court , the balance of which have either
been previously sold or are cancelled) maturing and be-
ing numbered in accordance with the following schedule:
SCHEDULE OF MATURITIES AND NUMBERS
Maturities Number of Bonds Bond Numbers ,
Maturing
July 1 , 1931 -
, 53 to 540 inclusive; 575 and 576
July 1 , 1932 16 o61 ,662 ,670 to 674 inclusive,
708 to 710 inclusive
July 1 , 1933 14 797 ,794,802 to 809 inclusive;
_ 846 to 843 inclusive
,
July 1 , 1934 lb 925 ,926,934 to 92 inclusive,
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972 to 970 inclusive
t ,
July 1 , 1935 lo 1057 ,1058,1066 to 1074 inclusive;
1104 to 1108 inclusive
July 1 , 1536 17 .1.189 ,1190 , 198 .to 1206 inclusive; ,
1236 to 1241 inclusive
July1 , 1937 17 • 1321 ,1322 ,1330 to 1338 inclusive;
1.3b7 to 1372 inclusive ,
r . % -
July 1 , 1938 17 1456 ,1457 ,1405 to 1473 inclusive;
. 1502 to 1507 inclusive
July 1 , 1939 17 1591 ,159200 to 1608 inclusive,
1037 to 1042 inclusive
July 1 , 190 18 1720 ,1727 ,1735 to 1744 inclusive, ,
1772 to 1777 inclusive
July 1 , 1941 18 1861 ,1862 ,1870 to 1879 inclusive;
1907 to 1912 inclusive
July 1 , 1942 18 1990 ,1997 ,2005 to 2014 inclusive,
2043 to 2048 inclusive
July 1 , 1943 18 212942130 ,2138 to 2147 inclusive;
2177 to 2182 inclusive
July 1 , 1944 18 22b2 ,2263.,2271 to 2280 inclusive,
2310 to 2315 inclusive
July 1 , 195 18 2395 ,2396 , 403 to 2412 inclusive;
2442 to 2447 inclusive
July 1 , 1946 18 2527 ,2528 ,2534 to 2543 inclusive,
, 2573 to 2578 inclusive
TOTAL 255 Bonds
No option of 'prior payment reserved. All bonds dated
July 1 , 1928, with January 1 , 1930 and adbsequent coupons
attached.
Bidder to name interest rate not exceeding six per cent
in a multiple of one-quarter of one per cent. Principal
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and semi-annual interest payable in gold at the United
States Mortgage and Trust Company , New York City. De-
nomination .a ,000; registerable as to principal only;
general city obligations; unlimited tax levy.
These bond:, comprise portions of three issues separ-
ately voted, each bond containing a recital showing the
particular public improvement for which it is issued.
The amounts and maturities, with a brief statement of
the purposes of issuance , are:
00 ,000 for erecting a fire station, :i32 ,000 1932
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to 19L6, inclusive.
103 ,000 for constructing a bridge , 0 ,000 1931
and 1932, 46,000 1933 , 47 ,000 1934 to 1946 , inclusive .
$37 ,000 for constructin7 a bridge) $2 ,000 1932 to
1939 ,inclusive , 43 ,000 1940 to 1946 ,inclusive ,
485 ,000 for extending and developing Waterworks
System , $2 ,000 1931 , $3 ,000 1932 , 44,000 1933
5 ,000 1934 and 1935 , and 0 ,000 1936 to 194o,
inclusive.
These bonds will be prepared under the supervision
of the United States Mortgage and. Trust Company , New
York City , which will certify as to the geniuneness
of the signatures of the officials and the seal im-
pressed thereon. Purchaser will be furnished approv-
ing legal opinion of Caldwell and. Raymond, New York
City.
Bids are required on forms which will be furnished
by said Trust Company or the undersigned and must be
enclosed in a sealed envelope marked "Proposal for
Bonds ," and be accompanied by a certified check for
two per cent of the par value of bonds being bid for ,
payable to the order of the City Clerk and drawn upon
an incorporated bank or trust company. The bonds will •
be delivered at place of purchaser' s choice on or
about July 17th, 1929.
The right to reject any and all bids is reserved.
C. W. TOMLINSON,
City Clerk. "
be and the same is hereby accepted and the said bonds
are hereby sold at private sale to said The First
National Bank of Miami , and
BE IT FURTHER RESOLVED BY SAID CITY COUNCIL that
the
4103 ,000 Public Improvement Bonds for the construc-
tion of a bridge , dated. July 1st , 1926 ,
mentioned in the foregoin7, proposal shall
mature as follows: $3 ,000 1931 and 1932 ,
V6,000 1933 ,17,000 1934 to 1946, inclusive .
and the
4 45 ,000 Public Improvement Bonds for extending and
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developing Waterworks System, dated July 1st , 1926,
mentioned in the foregoing proposal shall nature
as follows: 41,000 1931 and 1932, 42 ,000 1933 ,
'io ,000 1934 to 1944, inclusive , and •44,000 1945
and 1946.
Said bonds having been authorized by Resolution No. 1342,
passed and adopted June 2 , 1926 , interest being payable
semi-annually, both principal and interest being payable
at the offibe of the United States Mortgage and Trust
Company of New York City and said bonds to be accompanied
upon delivery by the approving opinion of Messrs. Caldwell
& Raymond, and
BE I FURTHER RESOLVED BY SAID CITY COUNCIL that by
unanimous vote of the members present , we do hereby resolve
to sell the bonds next above described at private sale and
that the bid of said The First National Bank of Miami is
the best price deemed obtainable for said bonds; and that
such price is not less than Tanety-seven cents on the dol-
lar and accrued interest and that both of said groups of
bonds shall bear interest at the rate of o% per annum.
PASSED AND ADOPTED this 29th &,y of June , A. D.
1929 .
arr President of City Council
ATTEST:
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City Clerk.
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