Resolution 2238 RESOLUTION NO. 2238
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA, DIRECTING
NOTICE FOR THE SALE OF $ 69 ,000 IMPROVE-
MENT BONDS, "SERIES M", $ 145,000 PUBLIC
IMPROVEMENT BONDS AND $ 900,000 PUBLIC
IMPROVEMENT BONDS, ALL DATED MAY 1st, 1930.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
MIAMI BEACH, FLORIDA:
SECTION 1. That the City Clerk is hereby directed
to publish at least ten days before the date for receipt
of bids hereinafter stated, in The Sun, a newspaper pub-
lished in the City of Miami Beach, Florida, a notice
callingfor bids for 69 ,000 Im rovement Bonds, "Series
p
M", authorized byResolution No. 22 0, $ 145,000 Public
3
Improvement Bonds, authorized by Resolution No. 223 -,
and 900,000 Public Improvement Bonds, authorized by
Resolution No. 2232, and is authorized to publish such
notice in some financial journal or journals published
in New York City, which notice shall be in substantial-
ly the following form:
1,743,000.00
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. , May 7th, 1930, for the follow-
ing bonds of the City of Miami Beach:
$
69 ,000.00 Improvement Bonds, "Series M", maturing an-
nually, May 1, as follows:
- 1 i 000 -
$108,000 93 X53� 1935 $38,000 - 1940
121,000 - 1932 835,000 - 1936-37 116,000 - 194-1J43
95,000 - 193 32,000 - 193$ 17,000 - 194-4-
65,000 - 1934 X33,OOO -- 1939 18,000 - 19 -5
$ 1 -5, 000.00 Public Improvement Bonds, maturing annual-
ly May 1, as follows:
1,000 - 1931-33 5, 000 -- 1939-40 gl2,000 - 19 -6
2,000 - 1934-35 8,000 - 1941-42 #13,000 - 19/47
3,000 - 1936 1T
,000 - 1Q-44
'1 ,004 -- 19404 -- 1937•-3S 11440 - l5,400 - 19LI9
516,000 - 1950
900,000.00 Public Improvement Bonds, maturing annual-
ly,
nnual--ly, May 1, as follows:
10,000 - 1932 ,000 - 1938
6 ,000 - 1 L6
3 5g
25,004 - 193 ko,000 - 193,-41 5,000 - 131478
5,000 _ 1`g 3 70,000 - 1942
5 000 -40,000 -- 1935 - 193 65,000 - 1949
45,000 - 1936 65,000 - 194 R 80,000 - 1950
10,000 - 1937 -0,000 - 19 -5
No option of prior payment reserved. All bonds dated
May 1, 1930. 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 and Trust Company, New York City.
Denomination $ 1,000; registerable as to principal only;
general obligations; unlimited tax levy; subject to vali-
dation by decree of Circuit Court.
The 69 , 000.00 Improvement Bonds, "Series M" are for
street pavements, sidewalks, sanitary sewer improvements
and beach protection; assessable projects but general tax
obligations.
The 145,000.00 Publ i c Improvement Bonds consist of
two issues separately voted, $ 70,000 for constructing
bridges; maturing serially 1932 to 1950, and $ 75,000 for
waterworks system; maturing serially 1931 to 1950.
The $ 900,000.00 Public Improvement Bonds were voted
for the purchase of a Golf Course.
Legal opinion of Caldwell and Raymond, New York City;
certification of bonds by International Trust Company,
New York City.
Bids must be upon a printed form which, with additional
information as to the City, the bonds and the conditions
of bidding, including recuirement for certified check for
two per cent, of the par value of bonds being bid for will
be furnished by said Trust Company or the undersigned.
The right to reject any and all bids is reserved.
C . W. TOMLINSON,
CITY CLERK.
SECTION 2. That the City Clerk shall cause to be
printed a prospectus containing statistical matter, a
form upon which bids must be made, and a notice calling
for bids for said bonds.
L40121_1. That this resolution shall be in full
force and effect immediately upon its passage and adop-
tion.
PASSED AND ADOPTED this 19th day of March, A. D.
1930.
President of City Council
ATTEST:
City Clerk
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