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Resolution 2232 j RESOLUTION NO. 2232 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE ISSUANCE OF $ 900,000.00 OF PUBLIC IMPROVEMENT BONDS. WHEREAS, the City Council of the City of Miami Beach, Florida, on February 6th, 1930, adopted a resolution au- thorizing the issuance of $ 900,000.00 of Public Improve- ment Bonds in the sum and for the purpose hereinafter set forth, subject to the authorization of the duly registered and qualified voters of said City who are freeholders there- in, •at a special election which said resolution directed to be held on March 11th, 1930, and WHEREAS, the said City Council on March 12th, 1930, canvassed the returns of the aforesaid election and found that the majority of the votes cast upon the bonds to be issued were in favor of said issue and declared the result of said election and canvass. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Miami Beach, Florida, as follows: SECTION 1. That pursuant to said election $900,000.00 of negotiable coupon bonds of the City of Miami Beach, Flor- ida, be issued bearing date May 1, 1930, and bearing interest at a rate to be hereafter determined, not exceed- ing 6% per annum, payable semi-annually, on the first days of May and November in each year, which interest shall be evidenced by coupons attached to the principal bonds and both principal and interest shall be payable in gold coin of the United States of the present standard of weight and fineness at the Chemical Bank & Trust Company, in New York City, which bonds shall be registerable as to principal in accordance with the endorsement which this resolution di- , rects ,to be printed on said bonds and that the City Clerk of said City is hereby designated Registrar for that pur- pose. - _ SECTION 2. That said bonds shall be issued for the purpose of purchasing what is known as the Municipal Golf Course, situated in the City of Miami Beach, Florida, to- gether with all buildings and improvements thereon, more particularly described as follows: BEGINNING at a point which is the intersection of the center line of Collins Canal and the Westerly line of Miami Avenue (now Washington Avenue) produced Northerly; thence in a Souther- ly direction along the said Westerly line of Miami Avenue (now Washington Avenue) produced Northerly and the said Westerly line thereof and continuing Southerly for a total distance of Two Thousand Six Hundred Forty-nine and Five- tenths (2,649.5) feet, more or less, to a point which is on the Northerly line of Lincoln Road and Seventy (70) feet West of the Southwest cor- ner of Block Thirty-one (31) of Fisher 's First Subdivision of Alton Beach; thence Westerly along the said Northerly line of Lincoln Road for a distance of Thirty (30) feet to a point; thence Northerly along a line Thirty (30) feet Westerly of and parallel to the last said Southerly course for a distance of One Hundred Twenty-five (125) feet, thence Westerly along a line which is One Hundred Twenty-five (125) feet Northerly of and parallel to the said Northerly line of Lincoln Road for a distance of Eleven Hundred Fifty (1,150) feet, more or less, to a point which is Seventy (70) feet Easterly of the Easterly line of the Golf Course Subdivision of The Alton Beach Realty Company, as it is shown on the Amended Plat of the same; thence Northerly along a line Seventy (70) feet Easterly of and parallel to the said Easterly line of the said Subdivision for a. distance of Twenty-five (25) feet to a point; thence Westerly along a line which is One Hundred Fifty (150) feet Northerly of and parallel to the said Northerly line of Lincoln Road for a distance of Seventy (70) feet to the said Easterly line of the said Subdivi- sion, thence Northerly along said Easterly line, and said Easterly line produced Northerly, of the said Subdivision for a distance of One Thousand Seven Hundred Ninety-five and One-tenth (1, 795.1) feet, more or less, to the said center line of Collins Canal; thence Northeasterly along the said center line of Collins Canal for a distance of One Thousand Four Hundred Thirty-four and Nine-tenths (1,434.9) feet, more or less, to the point of be- g.inning, containing Sixty-two and Four-tenths (62.4) acres, more or less, as said Road, Avenue, Canal, Subdivision and Lines are shown on Plats recorded in Plat Book No. 5, Pages 7 and 8, Plat Book No. 2, Page 77, Plat Book No. 6, Pages 26, 33, 34 and 102, and Plat Book No. 21, Page 31, all of Public Records of Dade County, Florida, and as said Washington Avenue is named and designated in Ordinance No. 232; AND ALSO That tract of land designated "Miami Beach Golf Links" AND ALSO that tract adjacent to the South- easterly corner thereof, in the form of a parallel- ogram, having two sides of One Hundred and Forty (140) feet and two sides of One Hundred and Twenty- five (125) feet, all as shown on a plat entitled "Plat to accompany Dedication of certain Streets in the Town of Miami Beach, Fla. , " recorded in Plat Book No . 4 at Page 79 of the Public Records of Dade County, Florida, and more particularly described as follows: BEGINNING at a point which is the intersection of the Southerly line of North Golf Drive (now West Twenty-eighth Street) and the Easterly line of West Golf Drive (now Prairie Avenue) , thence Southerly along the said Easterly line of West Golf Drive (now Prairie Avenue) for a distance of Two Thousand Three Hundred Seventy-eight and Four-tenths (2, 378.4) feet, more or less, to the point of curvature of the circular curve at the Northeasterly corner of Canal Boulevard (now Dade Boulevard) and said West Golf Drive (now Prairie Avenue) , thence deflecting Easterly around said curve to the point of tangency on the Northerly line of said Canal Boulevard (now Dade Boulevard) , thence Northeasterly along the said Northerly line of Canal Boulevard (now Dade Boulevard) for a distance of Seventeen Hundred and Twenty-five (1, 725) feet to a point; said point being the intersection of the Northerly line of said Canal Boulevard (now Dade Boulevard) and the Westerly line of East Golf Drive (now Pine Tree Drive) , thence Northerly along the Westerly line of said East Golf Drive (now Pine Tree Drive) for a distance of Seventeen Hundred Thirty-three and Five-tenths (1,733.5) feet, more or less, to a point , said point being the point of curvature of the circular curve at the South- westerly corner of said East Golf Drive (now Pine Tree Drive) and said North Golf Drive (now West Twenty-eighth Street) , thence deflecting Westerly around said curve to the point of tangency on the said Southerly line of North Golf Drive (now West Twenty-eighth Street) , thence Westerly along the said Southerly line of North Golf Drive (now West Twenty-eighth Street) for a distance of Twelve Hundred and Twenty-five (1225) feet, more or less to the point of 'beginning, and containing Fifty- six and Eleven-hundredths (56.11) acres, more or less, as said Tract, Drives, Boulevard, Circular Corners and Lines are shown on a plat recorded in Plat Book No. 4, Page 79 of the Public Records of Dade County, Florida, AND ALSO, All that portion of Collins Canal lying North- erly of the center line thereof, between the Westerly line of West Golf Drive (now Prairie Ave- nue) produced Southerly and the Easterly line of East Golf Drive (now Pine Tree Drive) , produced Southerly, as said Canal and Drives are shown on the said plat entitled "Plat to accompany Dedica- tion of certain Streets in the Town of Miami Beach, Fla. " • Expressly excepting, however, from said prop- erty, any and all property which heretofore has been dedicated and/or conveyed to the City of Miami Beach for boulevard, drive, avenue, alley- way, street, canal, park and/or other municipal purposes, either by record plats, including plats recorded in Plat Book 21 at Page 31, and Plat Book No. 30 at Page 47, of the Public Re- cords of Dade County, Florida, and/or by any other legal instrument. Said property to 'be dedicated to Golf pur- poses excepting expressly however a strip not to exceed Thirty (30) feet in width which may be necessary for the widening of Washington Avenue. Said bonds shall mature as follows: MATURITY AND NUMBERING SCHEDULE $ 10,000.00 May 1, A. D. 1932, numbered 1 to 10, both inclusive $ 25,000.00 May 1, A. D. 1933, numbered 11 to 35, both inclusive 5,000.00 May 1, A. D. 1934, numbered 36 to 40, both inclusive I 40,000.00 May 1, A. D. 1935, numbered 41 to 80, both inclusive t 45,000.00 May 1, A. D. 1936, numbered 81 to 125, both inclusive 10,000,00 May 1, A. D. 1937, numbered 126 to 135, both inclusive r 45 000.00 May 1, A. D. 1938, numbered 136 to 180, both inclusive r % 40,000 .00 May 1, A. D. 1939, numbered 181 to 220, both inclusive k 40,000.00 May 1, A. D. 1940, numbered 221 to 260, both inclusive 40, 000.00 May 1, A. D. 1941, numbered 261 to 300, both inclusive ft, 70,000.00 May 1, A. D. 1942, numbered 301 to 370, both inclusive 1. 55,000.00 May 1, A. D. 1943, numbered 371 to 425, both inclusive i 65,000.00 May 1, A. D. 1944, numbered 426 to 490, both inclusive 40,000.00 May 1, A. D. 1945, numbered 491 to 530, both inclusive 1. 65,000.00 May 1, A. D. 1946, numbered 531 to 595, both inclusive t 85,000.00 May 1, A. D. 1947, numbered 596 to 68o, both inclusive 75,000.00 May 1, A. D. 1948, numbered 681 to 755, both inclusive 65, 000.00 May 1, A. D. 1949, numbered 756 to 820, both inclusive 80,000.00 May 1, A. D. 1950, numbered 821 to 900, both inclusive SECTION 3. That all of the bonds herein author- ized shall be in denominations of $ 1,000.00 each and shall be designated "Public Improvement Bonds" and shall be alike in form except as to the dates of ma- turities and numbers, and the form of said bonds, cou- pons and registration endorsement, as well as the man- ner of execution of said 'bonds and coupons and certifi- cate of validation, shall be substantially as follows: r • No. $ 1,000.00 UNITED STATES OF AMERICA tATE OF FLORIDA, COUNTY OF DADE CITY OF MIAMI BEACH PUBLIC IMPROVEMENT BOND. KNOW ALL MEN BY THESE PRESENTS, That the City of Miami Beach, Florida, in the County of Dade and State of Florida, is justly indebted, and for value received, hereby promises to pay to the bearer, or if registered to the registered own- er hereof, on the 1st day of May, 19 , the principal sum of ONE THOUSAND DOLLARS with interest thereon at the rate of per cent, per annum, payable semi-annually, on the first days of May and November in each year, upon the presentation and sur- render of the annexed interest coupons PS they severally become due. Both the principal and interest of this bond are payable in gold coin of the United States of the pre- sent standard of weight and fineness, et the office of the Chemical Bank & Trust Company, in the City of New York. For the prompt payment hereof, both principal and interest, as the same shall become due, the full faith, credit and resources of said City of Miami Beach are hereby irrevoca- bly pledged. This bond is one of a series issued by said City for the purpose of paying the cost of purchasing what is known as the Municipal Golf Course, situated in the City of Miami Beach, Florida, together with all buildings and improve- ments thereon, as described in Resolution No. 2232 of the City Council of said City, passed and adopted March 12th, 1930, under the authority of and in full compliance with the City Charter and has been authorized by a vote of the majority of the duly registered and qualified voters in said City, who are freeholders therein, voting et an elec- tion legally called and held for that purpose. It is hereby certified and recited that all acts, conditions and things required to happen, exist or to be • done precedent to and in the issuance of this bond by said charter and the laws and constitution of the State of Florida, have happened, exist and have been performed; that provision has been made for the levy and collection of a direct annual tax upon all taxable property within said City, sufficient to pay the interest and principal of this bond as the same shall become due and that the total indebtedness of said City, including this bond, does not exceed any constitutional or statutory limita- tion thereof. This bond may be registered as to princi- pal in accordance with the provisions endorsed hereon. IN WITNESS WHEREOF the said City of Miami Beach, Florida, has caused this bond to be signed by its Mayor and City Clerk and its corporate seal to be affixed, and the interest coupons attached hereto to be signed with the facsimile signature of said City Clerk, all as of the 1st day of May, A. D. 1930. Mayor. City Clerk. COUPON. No. On 1, 19 , the City of Miami Beach, Florida, will pay to the bearer at the Chemical Bank & Trust Company, New York City, the sum of Dollars, in gold coin as provided in and sfor the interest then due on its Public Improvement Bond, dated May 1, 1930, and numbered City Clerk. a. • • • , s • ,- _ - ENDORSEMENT CONCERNING VALIDATION Validated and confirmed by decree of the Circuit Court for the Eleventh Judicial Circuit of the State of Florida, in and for Dade County, on 1930. f4( Clerk of the Circuit Court of the Eleventh Judicial Circuit for Dade County, Florida . REGISTRATION AS TO PRINCIPAL ONLY This bond may be registered as to principal in the bond register of said City, notation of such registration to be made hereon by the City Clerk, or by such other of- ficer or agent as may be designated Registrar by resolu- tion of the governing body of said City, and may thereaf- ter be transferred on such register •by the registered own- er in person, or by attorney, upon the presentation to the Bond Registrar, accompanied by delivery of a written instrument of transfer in a form approved by the Bond Registrar and executed by the registered owner; such transfer may be to bearer, after which this 'bond shall be subject to successive registration and transfer as before . Notwithstanding the registration of this bond, the coupons shall remain payable to bearer and shall be transferable by delivery. Date of Registration. Name of Registered Owner. Registrar. SECTION 4. That after the preparation of said bonds with proper maturities as provided by this resolution, the 'bonds and coupons annexed thereto shall be stamped with the num- bers 1 to 900, inclusive , in accordance with the following schedule, which schedule shall 'be printed on the reverse of each of said bonds: - , r, MATURITY AND NUMBERING SCHEDULE i) 10,000.00 May 1, A. D. 1932, numbered I to 10, both inclusive 25, 000.00 May 1, A. D. 1933, numbered 11 to 35, both inclusive 5, 000.00 May 1, A. D. 1934, numbered 36 to 40, both inclusive $ 40,000.00 May 1, A. D. 1935, numbered 41 to 80, both inclusive 45,000.00 May 1, A. D. 1936, numbered 81 to 125, both inclusive • 10, 000.00 May 1, A. D. 1937, numbered 126 to 135, both inclusive 45,000.00 May 1, A. D. 1938, numbered 136 to 180, both inclusive 40,000.00 May 1, A. D. 1939, numbered 181 to 220, both inclusive o,000.00 May 1, A. D. 1940, numbered 221 to 260, both inclusive 40,000.00 May 1, A. D. 1941, numbered 261 to 300, both inclusive • 70,000.00 May 1, A. D. 1942, numbered 301 to 370, both inclusive - 55,000.00 May 1, A. D. 1943, numbered 371 to 425, both inclusive 65,000.00 May 1 , A. D. 1944, numbered 426 to 490, both inclusive • 40,000.00 May 1, A. D. 1945, numbered 491 to 530, both inclusive i 65,000.00 May 1, A. D. 1946, numbered 531 to 595, both inclusive 85,000.00 May 1, A. D. 1947, numbered 596 to 680, both inclusive 1 75,000.00 May 1, A. D. 1948, numbered 681 to 755, both inclusive 65,000.00 May 1, A. D. 1949, numbered 756 to 820, both inclusive 80,000 .00 May 1, A. D. 1950, numbered 821 to 900, both inclusive SECTION 5. That in each year while any of said bonds shall be outstanding, there shall be levied on all of the taxable property within said City, a direct an- nual tax sufficient to pay the principal and interest falling due in the following years upon said bonds, which tax shall be collected as other City taxes and shall 'be used for no other purpose than the payment of said prin- cipal and interest . SECTION 6. That the City Attorney is hereby author- ized, but not required, to proceed to have said bonds vali- dated in the name of said City by the Circuit Court of said County, but in the event he does not so proceed, then the validation endorsement herein provided to be printed on said bonds shall not be so printed. SECTILLI. That the Mayor and City Clerk execute said 'bonds and affix the seal of said City thereto and that they and the City Attorney take such steps as may be necessary to effect an early sale and delivery of said bonds. SECTION 8. That this resolution shall be in force and effect immediately upon its passage and adoption. - " 4 PASSED AND ADOPTED this 12th day of March, A. D. 1930. President of City Council k / ATTEST: City Clerk • • i41,• •ittl.:.= ' Await ...WO Ow.' •van. . • • • . H. i‘e •, • • s , . •. •.