Resolution 73-14220 RESOLUTION NO. 73-14220
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING
THE ISSUANCE OF NEGOTIABLE COUPON BONDS
IN THE AMOUNT OF $6, 900, 000.00 FOR THE
PURPOSES AUTHORIZED AT AN ELECTION HELD
ON NOVEMBER 6, 1973.
WHEREAS, the duly registered and qualified voters
of the City of Miami Beach, participating in the election
held according to law in the City of Miami Beach, Florida,
on November 6, 1973, authorized the issuance of negotiable
coupon bonds of the City of Miami Beach in the aggregate
sum of $6, 900, 000. 00 for the several purposes hereinafter
stated.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF MIAMI BEACH, FLORIDA :
SECTION 1. That pursuant to said election, $6, 900, 000. 00 of
negotiable coupon bonds of the City of Miami Beach,
Florida, be issued bearing date of March 1, 1974, and bearing
interest at a rate to be hereafter determined, but not to
exceed seven and one-half (7 1/2%) percent, per annum, payable
semi-annually, on the first day of March and the first day of
September of each year, which interest shall be evidenced by
coupons attached to the principal bonds, and both principal
and interest shall be payable in lawful money of the United
States of America at the Chemical Bank, New York City, which
bonds shall be registrable as to principal in accordance with
the endorsement which this resolution directs to be printed on
said bonds, and that the Chemical Bank, New York City, is hereby
designated Registrar for that purpose.
SECTION 2 . Said bonds shall be issued in Nine (9) Series and
in the respective amounts as follows :
SERIES 1 : For the purpose of acquiring and developing
for parks, recreational and open-space
purposes, the following parcel of land:
Lots 1 through 12 of Block 3, SECOND OCEAN
FRONT SUBDIVISION, Plat Book 28, page 28,
of the Public Records of Dade County, to-
gether with a parcel of sovereignty land
in Indian Creek abutting generally Lots 2
through 7 and a portion of Lot 8, Block 3,
of said subdivision. A portion of the
said parcel of land is described by metes
and bounds, and which metes and bounds
description is on file in the office of the
City Clerk. Said parcel of land is commonly
known as "Brittany Bay Property" and is also
located at 63rd Street and Indian Creek Drive,
Miami Beach, Florida .
$3, 500, 000. 00
Said Series 1 bonds in the principal amount of $3, 500, 000. 00
shall be known as "1974 Parks, Recreational and Open-Space Bonds",
and shall be numbered and mature as follows :
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12/19/73
ORM OF CITY ATTOINI►--1126 WASHINGTON AVENUE-MIAMI MACH, FLORIDA 33131
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DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 120, 000 24 1 - 24
77 120, 000 24 25 - 49
78 130, 000 26 50 - 76
79 130, 000 26 77 - 103
80 130, 000 26 104 - 130
81 150, 000 30 131 - 161
82 150, 000 30 162 - 192
83 160, 000 32 193 - 225
84 170, 000 34 226 - 260
85 180, 000 36 261 - 297
86 190, 000 38 298 - 336
87 190, 000 38 337 - 375
88 200, 000 40 376 - 416
89 210, 000 42 417 - 459
90 220, 000 44 460 - 504
91 240, 000 48 505 - 553
92 250, 000 50 554 - 604
93 270, 000 54 605 - 659
94 290, 000 58 660 - 718
3, 500, 000 700
SERIES 2 : For the purpose of purchasing and acquiring
fixtures, chattels, personal property, fur-
niture, furnishings, and similar appurtenances
necessary to make the new expanded Convention
Hall a complete and utilizable facility.
$900, 000. 00
Said Series 2 bonds in the principal amount of $900, 000.00
shall be known as "1974 Convention Hall Facilities Bonds ", and
shall be numbered and mature as follows :
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 25, 000 5 1 - 5
77 30, 000 6 6 - 12
78 30, 000 6 13 - 19
79 35, 000 7 20 - 27
80 35, 000 7 28 - 35
81 40, 000 8 29 - 37
82 40, 000 8 38 - 45
83 45, 000 9 46 - 55
84 45, 000 9 56 - 65
85 45, 000 9 66 - 75
86 50, 000 10 76 - 86
87 50, 000 10 87 - 97
88 50, 000 10 98 - 108
89 55, 000 11 109 - 120
90 60, 000 12 121 - 133
91 60, 000 12 134 - 146
92 60, 000 12 147 - 159
93 70, 000 14 160 - 174
94 75, 000 15 175 - 190
900, 000 180
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OlNCE OF CITY ATTORNEY-I l 20 WASHINGTON AVENUE-MIAMI MACH, FLORIDA 33139
I
SERIES 3 : For the purpose of acquiring necessary land,
rights-of-way, and the construction of a bridge
for pedestrians and vehicles over Collins Canal
and connecting Convention Hall Complex with
Prairie Avenue at Dade Boulevard.
$500, 000. 00
Said Series 3 bonds in the principal amount of $500, 000. 00
shall be known as "1974 Convention Hall Bridge Bonds", and
shall be numbered and mature as follows :
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 15, 000 3 1 - 3
77 20, 000 4 4 - 8
78 20, 000 4 9 - 13
79 20, 000 4 14 - 18
80 20, 000 4 19 - 23
81 20, 000 4 24 - 28
82 25, 000 5 29 - 34
83 25, 000 5 35 - 40
84 25, 000 5 41 - 46
85 25, 000 5 47 - 52
86 25, 000 5 53 - 58
87 25, 000 5 59 - 64
88 30, 000 6 65 - 71
89 30, 000 6 72 - 78
90 30, 000 6 79 - 85
91 35, 000 7 86 - 93
92 35, 000 7 94 - 101
, 93 35, 000 7 102 - 109
94 40, 000 8 110 - 118
1
500, 000 100
r
SERIES 4 : For the purpose of acquiring necessary land,
rights-of-way, and the construction of a public street, to be an
extension of 16th Street, between Washington and Collins Avenues.
$650, 000. 00
Said Series 4 bonds in the principal amount of $650, 000. 00
shall be known as "1974 16th Street Construction Bonds", and
shall be numbered and mature as follows :
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 20, 000 4 1 - 4
77 20, 000 4 5 - 9
78 20, 000 4 10 - 14
79 25, 000 5 15 - 20
80 25, 000 5 21 - 26
81 30, 000 6 27 - 33
82 30, 000 6 34 - 40
83 30, 000 6 41 - 47
84 35, 000 7 48 - 55
85 35, 000 7 56 - 63
86 35, 000 7 64 - 71
87 35, 000 7 72 - 79
88 35, 000 7 80 - 87
89 40, 000 8 88 - 96
90 40, 000 8 97 - 105
91 45, 000 9 106 - 115
92 45, 000 9 116 - 125
93 50, 000 10 126 - 136
94 55, 000 11 137 - 148
650, 000 130
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OffICE Of CITY ATTORNEY-1129 WASHINGTON AVENIN-MIAMI MACH, FLORIDA 33139
SERIES 5 : For the purpose of constructing a new North
Shore Library, to be located at 7501 Collins Avenue, Miami
Beach, Florida.
$250, 000. 00
Said Series 5 bonds in the principal amount of $250, 000. 00
shall be known as "1974 North Shore Library Bonds", and shall
be numbered and mature as follows :
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 10, 000 2 1 - 2
77 10, 000 2 3 - 5
78 10, 000 2 6 - 8
79 10, 000 2 9 - 11
80 10, 000 2 12 - 14
81 10, 000 2 15 - 17
82 10, 000 2 18 - 20
83 10, 000 2 21 - 23
84 10, 000 2 24 - 26
85 10, 000 2 27 - 29
86 10, 000 2 30 - 32
87 10, 000 2 33 - 35
88 15, 000 3 36 - 39
89 15, 000 3 40 - 43
90 20, 000 4 44 - 48
91 20, 000 4 49 - 53
92 20, 000 4 54 - 58
93 20, 000 4 59 - 63
94 20, 000 4 64 - 68
250, 000 50
SERIES 6 : For the purpose of acquiring, developing
and constructing an "Operation Re-Entry Building", on the fol-
lowing described parcel of land :
Lots 10, 11 and 15, Block 26,
AMENDED MAP OCEAN FRONT PRO-
PERTY, MIAMI BEACH IMPROVEMENT
CO.SUB. Plat Book 5, page 7 and
8, Public Records of Dade County,
Florida.
Said property is also commonly known as the Drexel School
Property and is also commonly known as 3602 Collins Avenue, Miami
Beach, Florida.
$250, 000. 00
Said Series 6 bonds in the principal amount of
$250, 000. 00 shall be known as "1974 Community Facility Bonds", and
shall be numbered and mature as follows :
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OIifICE Of CITY ATTORNEY--1 130 wASIUNGTON AVENUE-MIAMI MACH, RONIDA 33139
MNIMOIMINIMINISMIWIIMI
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 10, 000 2 1 - 2
77 10, 000 2 3 - 5
78 10, 000 2 6 - 8
79 10, 000 2 9 - 11
80 10, 000 2 12 - 14
81 10, 000 2 15 - 17
82 10, 000 2 18 - 20
83 10, 000 2 21 - 23
84 10, 000 2 24 - 26
85 10, 000 2 27 - 29
86 15, 000 3 30 - 33
87 15, 000 3 34 - 37
88 15, 000 3 38 - 41
89 15, 000 3 42 - 45
90 15, 000 3 46 - 49
91 15, 000 3 50 - 53
92 20, 000 4 54 - 58
93 20, 000 4 59 - 63
94 20, 000 4 64 - 68
250, 000 50
SERIES 7 : For the improvement of those City facilities
commonly known as "Friendship Corners and Community Centers",
located at :
South Shore Community Center, 833 - 6th Street
Friendship Corner #2, 201 - 2nd Street
Ocean Front Auditorium, 1001 Ocean Drive
North Shore Park, 501 - 72nd Street
Flamingo Park, 1245 Michigan Avenue
21st Street Community Center, 2100 Washington Avenue
Friendship Corner #3, 7275 Collins Avenue
Pier Park, 55 Ocean Drive
$300, 000. 00
Said Series 7 bonds in the principal amount of $300, 000. 00
shall be known as "1974 Park Development and Community Centers
Bonds", and shall be numbered and mature as follows :
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 10, 000 2 1 - 2
77 10, 000 2 3 - 5
78 10, 000 2 6 - 8
79 10, 000 2 9 - 11
80 10, 000 2 12 - 14
81 10, 000 2 15 - 17
82 15, 000 3 18 - 21
83 15, 000 3 22 - 25
84 15, 000 3 26 - 29
85 15, 000 3 30 - 33
86 15, 000 3 34 - 37
87 15, 000 3 40 - 43
88 20, 000 4 44 - 48
89 20, 000 4 49 - 53
90 20, 000 4 54 - 58
91 20, 000 4 59 - 63
92 20, 000 4 64 - 68
93 25, 000 5 69 - 74
94 25, 000 5 75 - 80
300, 000 60
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01.14:11 OP CITY ATTOlINY--1130 WASHINGTON AMUS-MIAMI MACH. FLORIDA 33139
SERIES 8 : For the purpose of installing suitable and ap-
propriate street lighting for the following public streets and
thoroughfares :
All streets on Biscayne Point
All streets on Normandy Isle
North Bay Road from 43rd Street to 48th Street
Washington Avenue from Biscayne Street to 17th Street
$400, 000. 00
Said Series 8 bonds in the principal amount of $400, 000. 00
shall be known as "1974 Street Lighting Bonds", and shall be
numbered and mature as follows :
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 15, 000 3 1 - 3
77 15, 000 3 4 - 7
78 15, 000 3 8 - 11
79 15, 000 3 12 - 15
80 15, 000 3 16 - 19
81 15, 000 3 20 - 23
82 15, 000 3 24 - 27
83 20, 000 4 28 - 32
84 20, 000 4 33 - 37
85 20, 000 4 38 - 42
86 20, 000 4 43 - 47
87 20, 000 4 48 - 52
88 25, 000 5 53 - 58
89 25, 000 5 59 - 64
90 25, 000 5 65 - 70
91 25, 000 5 71 - 76
92 30, 000 6 77 - 83
93 30, 000 6 84 - 90
94 35, 000 7 91 - 98
400, 000 80
SERIES 9: For the purpose of installing appropriate
lighting and the improvements of the municipal tennis courts,
located at :
Tennis Center, North Shore
Park, 501 - 72nd Street
Tennis Center, Flamingo Park, 1000 - 12th Street
$150, 000. 00
Said Series 9 bonds in the principal amount of $150, 000. 00
shall be known as "1974 Tennis Court Lighting Bonds ", and shall
be numbered and mature as follows :
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ORICE 09 CITY ATTOINIY--1139 WASHINGTON AVENUE-MIAMI MACH, P.ORIDA 33139
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 5, 000 1 1
77 5, 000 1 2
78 5, 000 1 3
79 5, 000 1 4
80 5, 000 1 5
81 5, 000 1 6
82 5, 000 1 7
83 5, 000 1 8
84 10, 000 2 9 - 10
85 10, 000 2 11 - 13
86 10, 000 2 14 - 16
87 10, 000 2 17 - 19
88 10, 000 2 20 - 22
89 10, 000 2 23 - 25
90 10, 000 2 26 - 28
91 10, 000 2 29 - 31
92 10, 000 2 32 - 34
93 10, 000 2 35 - 37
94 10, 000 2 38 - 40
150, 000 30
SECTION 3. That said bonds shall be callable for redemption as
shall be hereafter determined by Resolution to be
adopted by the City Council. Notice of such intended redemption
in each case shall be published at least once, at least thirty (30)
days prior to the date of redemption, in a financial journal pub-
lished in the City of New York, New York. Interest shall cease
to accrue on any bonds so called for prior redemption on the re-
demption date if adequate funds have been duly provided for the
redemption thereof.
SECTION 4. That all of the bonds herein authorized and referred
to in Section 2 of this Resolution shall be in the
denomination of $5, 000. 00 each, and shall be designated "1974
Public Improvement Bonds" followed by a brief description of the
purpose, as hereinabove provided, and shall be alike in form,
except as to statement of Series, purpose, and the dates of
maturities and numbers, and the form of said bonds, coupons and
registration endorsement, as well as the manner of execution of
said bonds and coupons, and certificates of validation shall be
substantially as follows :
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ONICR OP CITY ATTORII Y-1130 WASHINGTON AVRNUR-MIAMI MACH, FLORIDA 33131
No. UNITED STATES OF AMERICA $5, 000.00
STATE OF FLORIDA, COUNTY OF DADE
CITY OF MIAMI BEACH
PUBLIC IMPROVEMENT BOND
(Here insert Series No. and statement of purpose)
KNOW ALL MEN BY THESE PRESENTS, that the City of
Miami Beach, 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 owner
hereof, on the 1st day of September, 19 , the principal
sum of
FIVE THOUSAND DOLLARS
with interest thereon, at the rate of percent per annum,
payable semi-annually, on the first day of March and the first
day of September in each year upon the presentation and surrender
of the annexed interest coupons as they severally become due.
Both the principal and interest of this bond are payable in
lawful money of the United States of America, at the office of
Chemical Bank 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 irrevocably pledged.
This bond is one of a series of like tenor, date and
amount, but naturing at different times, issued by said City for
the purpose of apying the cost of certain Public Improvements in
the City of Miami Beach, Florida, as stated in the caption here-
of, and more particularly described in Resolution No.
of the City Council of said City, passed and adopted on December
12, 1973, under the authority of and in full compliance with the
Constitution and Statutes of the State of Florida, including
Chapter 100, Florida Statutes, and the City Charter, being
Chapter 7672 of the Laws of Florida of 1917 and Acts amendatory
thereof and supplemental thereto, and has been authorized and
approved by a majority of those voting in said special election,
which said election was called and held, and the result declared
and recorded in the manner prescribed by law.
(Insert redemption provisions determined by
subsequent Resolution)
It is hereby certified and recited that all acts, con-
ditions and things required to happen, exist, or to be done pre-
cedent 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 limitation thereof. This
bond may be registered as to principal, in accordance with the
provisions endorsed hereon.
IN WITNESS WHEREOF, the said City of Miami Beach, Florida,
has caused this bond to be executed by its Mayor and attested
by its City Clerk (the facsimile signatures of said Mayor and City
Clerk being imprinted or reproduced on this bond, and on the valid-
ation legend appearing hereon, provided that at least one of said
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OWE OP CITY ATTORNEY-1130 WASHINGTON AVMS-MIAMI IIEACH, FLORIDA 33139
officers shall manually apply his signature on said bond) ;
and the corporate seal of said City has been impressed or
imprinted hereon, and the interest coupons hereto attached,
executed by said officials, by their facsimile signatures,
all as of the first day of March, 1973 .
MAYOR
*Attest:
City Clerk
Form of Coupon
No. $
On the 1st day of , 19 , the City of Miami
Beach, Florida, will pay to the Bearer at the Chemical Bank,
New York City, New York, the sum of Dollars
($ ) in lawful money of the United States of
America, as provided in and for the interest then due on its
Public Improvement Bond, Series , dated the 1st day
of , 19 , and numbered
MAYOR
Attest:
City Clerk
- 9
oma Of CITY ATTORNEY-1130 WASHINGTON AVINIM-MIAMI MACN, RORIDA 33139
ENDORSEMENT CONCERNING VALIDATION
This bond is one of a series of bonds which were validated
and confirmed by decree of the Circuit Court of the Eleventh
Judicial Circuit of the State of Florida, in and for Dade County,
rendered on , 19
ENDORSEMENT CONCERNING REGISTRATION
This bond may be registered in the name of the holder on
the books to be kept by the Chemical Bank, as Registrar, or
such other Registrar as may hereafter be duly appointed, as to
principal only, such registration being noted hereon by such
' Registrar in the registration blank below, after which no
transfer shall be valid, unless made on said books by the
registered holder or his attorney, duly authorized and similarly
noted, in the registration blank below, but it may be discharged
from registration by being transferred to bearer, after which
it shall be transferable by delivery, but it may again be
registered as before. The registration of this bond as to
principal shall not restrain in the negotiability of the coupons
by delivery merely, but the coupons may be surrendered, and the
interest made payable only to the registered holder, in which
event the Registrar shall note in the registration blank below
that this bond is registered as to interest, as well as principal,
and thereafter, the interest will be remitted by mail to the
registered holder. With the consent of the holder, and of the
City of Miami Beach, this bond when converted into a bond regis-
tered as to both principal and interest, may be reconverted into
a coupon bond, and again converted into a bond registered as to
PI. both principal and interest, as hereinabove provided. Uponon recon-
version of this bond, when registered as to principal and interest
into a coupon bond, coupons representing the interest to accrue
upon this bond to date of maturity shall be attached hereto by
the Registrar. The Registrar shall note in the registration blank
below whether this bond is registered as to principal only, or
payable to bearer.
DATE OF REGISTRATION NAME OF REGISTERED OWNER REGISTRAR
SECTION 5. That in each year while any of the bonds referred
to in Section 2 of this Resolution shall be out-
standing, there shall be levied on all of the taxable property
within said City, a direct annual tax sufficient to pay the
principal and interest falling due in the following year upon
said bonds, which tax shall be collected as other City taxes
are collected, and shall be used for no other purpose than the
payment of said principal and interest.
SECTION 6. That the City Attorney is hereby authorized and
directed to proceed in the name of said City to
have said bonds validated by the Circuit Court of Dade County,
Florida.
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O!*ICE OF CITY ATTORNEY-...112O WARRINGTON AVENUE-MIANI REACH, RORIDA 331311
SECTION 7. That said bonds shall be executed in the name of
the City by the Mayor, and attested by the City
Clerk, one of which signatures may be a facsimile signature,
and shall have affixed thereto, or printed or reproduced thereon,
the corporate seal of the City. In case any one or more of the
officers who shall have signed or sealed any of the bonds shall
cease to be such officer of the City before the bonds so signed
and sealed have been actually sold and delivered, such bonds may,
nevertheless, be sold and delivered, as herein provided, and may
be issued as if the person who signed or sealed such bonds had
not ceasedto hold such office. Any bond may be signed and sealed
on behalf of the City by such person, as at the actual time of the
execution of such bonds shall hold the proper office in the City,
although at the date of such bonds such person may not have held
such office, or may not have been so authorized.
The coupons to be attached to the bonds shall be auth-
enticated with the facsimile signatures of the present, or any
future Mayor and City Clerk, and the City may adopt, and use for
that purpose, the facsimile signature of any of said persons who
shall have been such officers at any time on or after the date of
the bonds notwithstanding that they may have ceased to be such
officers at the time when saidbonds shall be actually sold and
delivered.
SECTION 8. That this Resolution shall be in force and effect
immediately upon its adoption .
PASSED and ADOPTED this 12th day of December, 1973 .
I
AYOR
Attest :
��G t 2XIA-7
City Clerk
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OffICE Of CITY ATTORNEY-1130 WASHINGTON AVENUE-MIAMI MACH, FLORIDA 33131
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