Resolution 2042 -41
RESOLUTION NO. 2042
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF MIAMI BEACH, FLORIDA:
That the proposal 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:
"PROPOSAL FOR BONDS
Aug. 8, 1929.
MR. C. W. TOMLINSON,
City Clerk ,
Miami Beach , Florida.
Dear Sir:
We make the following offer for bonds of the
City of Miami Beach described in the annexed no-
tice , which is hereby made a part of this bid,
the offer being for each of the following groups
separately:
For $100,000 Public Improvement Bonds $10,000,
1944, 05,000 - 1945 - 46-- 47 - 48 - 49 - each.
we will pay for 6% Bonds Ninety Seven Thousand and
no/100 Dollars ($ 97 ,000.00 -).
For $44,000 Improvement Bonds, Series L, we
will pay for 6% Bonds Forty Two Thousand Six Hundred
- - Eighty and no/100 - - - Dollars ($42,680.00 -).
In addition thereto we will pay accrued interest
to date of delivery and will accept delivery at
National City Bank - - in New York at the time stated
in said notice of sale.
We enclose herewith certified check for $2,S80.00-
being 2% of the par value of bonds being bid for ,
payable to the City Clerk of Miami Beach, which en-
closure is to be returned to us if this bid be not
accepted, but otherwise to be deposited by said of-
, ficer and when the bonds are delivered and paid for
under the terms of this bid, is to be considered as
an advance part payment therefor, or is to be re-
tained as and for liquidated damages in case we fail
so to take up and pay for the bonds.
THE FIRST NATIONAL BANK OF MIAMI
By (Signed) W. W. Culbertson
Vice President
No addition or alteration is to be made to this
proposal and it must not be detached from the an-
nexed advertisement.
,a3__
1
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ADVERTISEMENT
34 -,000
CITY OF MIAMI BEACH , FLORIDA
GOLD BONDS
Sealed bids will be received by the City Council, ad-
dressed to the undersigned, and marked "Proposal for
Bonds" , until 10:00 o' clock A. M. , August 7th, 1929 , for
the following bonds of the City of Miami Beach:
$300,000 Public Improvement Bonds, dated July 1 1929,
maturing annually July 1, $2,000 1931 and 1932, $16,000
1933 to 1937 , inclusive, and $18,000 1938 to 1949, in-
clusive .
$44,000 Improvement Bonds, Series L, dated July 1,
1929, maturing annually July 1, $16,000 1930, $11,000
1931, $7,000 1932 and $5,000 1933 and 1934.
No option of prior payment reserved. Bidder to name
interest rate not exceeding six per cent. in a multiple
of one-quarter of one per cent. Principal and semi-
annual interest payable in gold at the Chemical Bank &
Trust Company, New York City. Denomination $1,000;
registerable as to principal only; general city obliga-
tions; unlimited tax levy; subject to validation by de-
cree of Circuit Court.
The Public Improvement Bonds here offered comprise
one issue for the purpose of purchasing a portion of
Flamingo Park, situated within the corporate limits of
;, the City of Miami Beach.
The $44,000 Improvement Bonds, Series L, are a por-
tion of an authorized issue of $190,000 (the balance
of which is not being offered for sale at present) for
street pavement , sidewalks and sanitary sewer improve-
ments, not voted. Bonds for local improvements (the
cost of local improvements is largely paid from special
assessments) , may be issued without an election.
The bonds will be prepared under the supervision of
the Chemical Bank & Trust Company, New York City, which
will certify as to the genuineness of the signatures of
the officials and the seal impressed thereon. The pur-
chaser will be furnished approving 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
3 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 the 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 August 31, 1929. The right to reject any and
all bids is reserved.
C. W. TOMLINSON,
City Clerk. "
*,
0
,,-,
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; that this City Council, by un-
animous vote of the members present , do hereby resolve
to sell said bonds 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 said
bonds were authorized respectively by Resolution No.
2011, passed and adopted June 5th, 1929 , and Resolu-
tion No. 2004, passed and adopted May 29th, 1929, and
shall bear interest at the rate of six per cent per
annum.
PASSED AND ADOPTED this Sth day of August , A. D.
1929.
• �/ Ar '
'resident of City Council
ATTEST:
C. W. T OM L� SON, City Clerk
By ... . ' - _-s
Deputy /
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