Resolution 74-14263 RESOLUTION NO. 74-14263
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA, AMENDING
RESOLUTION NO . 73-14220 , 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.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
MIAMI BEACH, FLORIDA, that in order to correct the numbering of
the bonds as set forth in Resolution No . 73-14220 , passed and
adopted by the City Council of the City of Miami Beach on
December 12 , 1973 , said Resolution No. 73-14220 be and the same
is hereby amended to read as follows :
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, together
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 :
OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
.
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 120 , 000 24 1 - 24
77 120 , 000 24 25 - 48
78 130 , 000 26 49 - 74
79 130 , 000 26 75 - 100
80 130 , 000 26 101 - 126
81 150 , 000 30 127 - 156
82 150 , 000 30 157 - 186
83 160 , 000 32 187 - 218
84 170, 000 34 219 - 252
85 180 , 000 36 253 - 288
86 190 , 000 38 289 - 326
87 190 , 000 38 327 - 364
88 200 , 000 40 365 - 404
89 210 , 000 42 405 - 446
90 220 , 000 44 447 - 490
91 240 , 000 48 491 - 538
92 250 , 000 50 539 - 588
93 270 , 000 54 589 - 642
94 290 , 000 58 643 - 700
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 - 11
78 30 , 000 6 12 - 17
79 35 , 000 7 18 - 24
80 35, 000 7 25 - 31
81 40 , 000 8 32 - 39
82 40 , 000 8 40 - 47
83 45 , 000 9 48 - 56
84 45 , 000 9 57 - 65
85 45 , 000 9 66 - 74
86 50 , 000 10 75 - 84
87 50 , 000 10 85 - 94
88 50 , 000 10 95 - 104
89 55 , 000 11 105 - 115
90 60 , 000 12 116 - 127
91 60 , 000 12 128 - 139
92 60 , 000 12 140 - 151
93 70 , 000 14 152 - 165
94 75, 000 15 166 - 180
900, 000 180
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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
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 - 7
78 20 , 000 4 8 - 11
79 20,000 4 12 - 15
80 20, 000 4 16 - 19
81 20 , 000 4 20 - 23
82 25, 000 5 24 - 28
83 25,000 5 29 - 33
84 25,000 5 34 - 38
85 25, 000 5 39 - 43
86 25,000 5 44 - 48
87 25, 000 5 49 - 53
88 30 , 000 6 54 - 59
89 30 , 000 6 60 - 65
90 30 , 000 6 66 - 71
91 35, 000 7 72 - 78
92 35,000 7 79 - 85
93 35, 000 7 86 - 92
94 40, 000 8 93 - 100
500 , 000 100
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 :
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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
DUE NUMBER BOND
SEPTEMBER AMOUNT BONDS NUMBERS
76 20, 000 4 1 - 4
77 20, 000 4 5 - 8
78 20, 000 4 9 - 12
79 25, 000 5 13 - 17
80 25, 000 5 18 - 22
81 30 , 000 6 23 - 28
82 30 , 000 6 29 - 34
83 30, 000 6 35 - 40
84 35, 000 7 41 - 47
85 35, 000 7 48 - 54
86 35,000 7 55 - 61
87 35, 000 7 62 - 68
88 35, 000 7 69 - 75
89 40, 000 8 76 - 83
90 40 ,000 8 84 - 91
91 45,000 9 92 - 100
92 45, 000 9 101 - 109
93 50, 000 10 110 - 119
94 55, 000 11 120 - 130
650, 000 130
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 - 4
78 10, 000 2 5 - 6
79 10, 000 2 7 - 8
80 10 , 000 2 9 - 10
81 10, 000 2 11 - 12
82 10, 000 2 13 - 14
83 10, 000 2 15 - 16
84 10, 000 2 17 - 18
85 10 , 000 2 19 - 20
86 10, 000 2 21 - 22
87 10 ,000 2 23 - 24
88 15,000 3 25 - 27
89 15, 000 3 28 - 30
90 20 , 000 4 31 - 34
91 20, 000 4 35 - 38
92 20 , 000 4 39 - 42
93 20 , 000 4 43 - 46
94 20, 000 4 47 - 50
250 , 000 50
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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
SERIES 6 : For the purpose of acquiring, developing
and constructing an "Operation Re-Entry
Building" , on the following described
parcel of land:
Lots 10 , 11 and 15, Block 26 , AMENDED
MAP OCEAN FRONT PROPERTY, 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 prinicpal amount of
$250, 000 . 00 shall be known as "1974 Community Facility 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 - 4
78 10, 000 2 5 - 6
79 10 ,000 2 7 - 8
80 10 ,000 2 9 - 10
81 10 ,000 2 11 - 12
82 10, 000 2 13 - 14
83 10 ,000 2 15 - 16
84 10 ,000 2 17 - 18
85 10,000 2 19 - 20
86 15,000 3 21 - 23
87 15, 000 3 24 - 26
88 15 ,000 3 27 - 29
89 15, 000 3 30 - 32
90 15 ,000 3 33 - 35
91 15, 000 3 36 - 38
92 20 , 000 4 39 - 42
93 20 ,000 4 43 - 46
94 20 ,000 4 47 - 50
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
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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
r
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 - 4
78 10, 000 2 5 - 6
79 10,000 2 7 - 8
80 10,000 2 9 - 10
81 10 , 000 2 11 - 12
82 15, 000 3 13 - 15
83 15, 000 3 16 - 18
84 15, 000 3 19 - 21
85 15, 000 3 22 - 24
86 15, 000 3 25 - 27
87 15,000 3 28 - 30
88 20 ,000 4 31 - 34
89 20 , 000 4 35 - 38
90 20, 000 4 39 - 42
91 20 , 000 4 43 - 46
92 20 ,000 4 47 - 50
93 25 ,000 5 51 - 55
94 25, 000 5 56 - 60
300 ,000 60
SERIES 8 : For the purpose of installing suitable and
appropriate 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
1
$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 - 6
78 15, 000 3 7 - 9
79 15,000 3 10 - 12
80 15, 000 3 13 - 15
81 15,000 3 16 - 18
82 15, 000 3 19 - 21
83 20,000 4 22 - 25
84 20, 000 4 26 - 29
85 20 , 000 4 30 - 33
86 20, 000 4 34 - 37
87 20 , 000 4 38 - 41
88 25, 000 5 42 - 46
89 25,000 5 47 - 51
90 25,000 5 52 - 56
91 25 , 000 5 57 - 61
92 30, 000 6 62 - 67
93 30, 000 6 68 - 73
94 35 , 000 7 74 - 80
400,000 80
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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
6
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 :
'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 - 12
86 10, 000 2 13 - 14
87 10 , 000 2 15 - 16
88 10, 000 2 17 - 18
89 10, 000 2 19 - 20
90 10, 000 2 21 - 22
91 10, 000 2 23 - 24
92 10, 000 2 25 - 26
93 10, 000 2 27 - 28
94 10, 000 2 29 - 30
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 or 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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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
No. $5,000. 00
UNITED STATES OF AMERICA
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 payble 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 maturing at different times, issued by said City for
the purpose of apying the cost of certain Public Improvements for
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 results 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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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, 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
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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 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 197
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
registered as to both principal and interest, may be reconverted
into a coupon bond, and again converted into a bond registered as
rl
to both principal and interest, as hereinabove provided. Upon
reconversion 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 regis-
tration 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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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
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 ceased to 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 said bonds shall be actually sold and
delivered.
SECTION 8. That this Resolution shall be in full force and
effect, nunc pro tunc, as of December 12, 1973.
PASSED and ADOPTED this 6th day of February
1974 .
Mayor
Attest:
City Clerk
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OFFICE OF THE CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
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