Resolution 101 R SOLUTION NO. (-Cti • .
AUTHOFITIUC ,,)80,000.00 IT•fPROVE:1 T BONES
"SERIES .1;1, TiL SEPTE123ER 1, 1920 , uN,ER
SECTION 30 OF TEE CITY CHAR= OF T'..I CITY
OF 1:1-*,1:I BEACH, PLORILn.
WHEREAS, Section 30 of the City Charter of the City
of Miami Beach authorizes the City Council, by ordinance or resolu-
tion to issue bonds of the city for the payment of the cost of any
one or more street improvelents, or any part of such cost , and for
the reimbursement of any fund of the city from which any part of
such cost has theretofore been paid in an amount not greater than
the contract price, aid the estimated amount of incidental expenses;
and
'il REAS, the City Council of the City of Miami Beach,
Florida, by Resolution No. 1, duly adopted May 5th, A. L. 1920, has
ordered the improvement known and designated as Highway Improvement
Nos. 7 and 10; Highway Listricts Nos . 7 and 10, and by Resolution
No. 3, adopted July 7th, A. L. 1920 , has duly confirmed and ordered
the construction of Highway Improve :vents Nos . 7 and 10 ; Highway is-
tricts Nos. 7 and 10, by grading and paving of bituminous surface
of Kentucky Rock Asphalt, certain streets and highways described in
said Resolution No. 1, and
'.1i;RE : , after the advertisement , in accordance with
the City Charter, the work of constructing said improvements was
awarded On the unit basis, and contracts therefor were duly made,
and that as computed br the City Engineer, the amount of the City' s
obligation is $74,983.90; and
`,"1? 'EAS, the City Engineer has duly reported to the
City Council his estimate of the incidental expenses of said improve-
ments therein as estimated as such expenses the sum of x:5,501.00; and
!'HE,REAS, the computation by the City Engineer of the
amount of the city' s obligation has been confirmed by the city council;
NO , THER 'IIR , BE IT R. :::OLVL. 3Y TEL, CITY COUNCIL OP
THE CITY OF MIAMI BEACH, PLO AIs.ti:
SECTION 1. That for the purpose of paying a portion of
the cost of said improvements and the incidental expenses thereof,
-1 -
there be issued the negotiable coupon bonds of the City of Miami
Beach, Florida, in the at_gregate amount of .eighty Thousand and
no/l00ths (*80,000.00) yollars, said bonds to be denomina R
"Series .1," , and to consist of Eighty (B0) bonds of One Thousand
(v1,000.00) dollars each, numbered from One (1) to Eighty (80)
both inclusive , which said bonds shall bear date of September 1st,
1920, and carry interest at the rate of six per centum ( 6 ) per
annum, payable semi-annually on the first days of March and Septembac
of each year, such interest to be evidenced by coupons attached to
said bones, both principal and interest to be payable in gold coin
of the United States of America, of the present standard of weight
and fineness, at the office of the United States Lortgage & Trust
Company, in the City of ilex. for, and shall mature and be payable as
follows:
Bonds numbered 1 to 2, aggregating 02000.00, Sept . 1, 1922.
rt it 3 " 4, n 2000.00 " 1, 1923.
IT IT 5 II 6, it 2000.00 . " 1, 1924.
IT IT 7 .T 8, rt 2000.00 " 1, 1925:
TT" I, 9 " 11, ti 3000.00 " 1, 1926:
rt ►T 12 " 14, t' 3000.00 " 1, 1927.
TT IT 155 TT 18 " 4000.00 " 1, 1928.
TT TT 19 " 22 IT . 4000.00 " 1, 1929 .
TT ,T 23 " 26 IT 4000.00 " 1, 1930.
IT IT 27 " 31 IT 5000.00 " 1, 1931:
tt Tt 32 " 36 'T 5000.00 " 1, 1932.
TT r; 37 " 41 TT 5000.00 " 1, 1933.
ft rT 42 Ti 46 IT 5000.00 " 33 1934•
rt tT 47 " 51 it 5000.00 " 1, 1935.
TT IT 52 TT 56 Ti 5000.00 " 1, 1936.
Ti " 57 Tt 62 IT 6000.00 " 1, 1937.
" IT 63 " 68 IT 6000.00 " 1, 1938.
TT II 69 " 74 " 6000.00 " 1. 1939 .
II Ti 75 TT 80 ti 6000 .00 1, 1940.
SECTI01 2. Said bonds shall be signed by the Mayor and
City Clem:, attested by the City Auditor and sealed with the corporate
seal of the city of Miami Beach, Florida, and the coupons attached
thereto ;.hall be signed by the City Clerk, whose signature upon such
cou2ons may be in fac-simile, and the form of said bonds and coupons
shall be substantially as follows:
41,000.00 UNITET, STATS OF AI IBRICA NO.
S trate of Florida, County of rade,
City of Miami Beach,
Improve!.bnt Bond
"Series :�' .
Issue:_ under Section 30, City Charter .
i ., ALL 1.11.4 . 3Y Tas-... Z'...:-.-1,_:-.2 .-. : That the City of Miami
Beach, in the County of ode and State of Florida, is justly
indebted and for value received hereby promises to pay to the
bearer on the day of , 19 , the principal
sum of O E 'THOU 9.a1Aa, .1.0.:.:+LuIr,S, with interest thereon at the rate of
six per cent (6:4 per annum, payable semi-annually on the
in each year, upon the presentation and surrender
of the annexed interest coupons as they severally become due .
Both principal and interest of this bond are payable in gold coin
of the United States at the present standard weight and fineness
at the United States Mortgage & Trust Company, in the City of New
York, and State of ilew York.
This bond is one of a series of eighty bonds of like
date, aggregating Eighty Thousand collars, and is issued for the
purpose of paying a portion of the _cost of the improvements known
as Hiahway Taprovemer.ts loos. 7 and 10; Highway :districts los. 7 and
10, consisting of the grading and paving of certain streets within
sair' city of Miami Beach, as described in and authorized by Reso-
lution No. 1, adopted May 5, 1920, and confirmed by Resolution iTo. 3
adopted July 7, 1920. This bond is issued under the authority and
within the limitations of and in full compliance with the Charter
of the said City, and in particular Section 30 thereof , and Resolution
apo. , duly adopted . The full
faith, credit and resources of said City of Miami Beach, are
irrevocably pledged to the prompt payment of the principal and inter
est thereof as the same shall fall due , and to the application to
said payment of all assessments heretofore or hereafter made upon
property within said city for any part of the cost of said improve-
ment/ It is hereby certified and recited that all acts, conditions
arra things required to exist or to be done precedent to and in the
issuance of this bond by said charter and the laws and constitution
of said State, have duly happened and be -n perfarmed. Th t pro-
vision has been made for thi 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 ; add that the total indebtedness of said City, including the
bond , does not e_.ceed any constitutional or statutory limitation.
Iia WWITNESS ::n'raEor , said City of Miami Beach has caused
this bond to be signed by its Mayor and Clork, under its corporate
seal, and attested by its auditor, and the interest coupons attached
hereto, to be signed with the fac-simile signs.ture of said Clerk,
rrse as of the day of
Ma ybr
City Clerk. -
City .auditor.
C o t p U
Io. On
TEE CITY
I7T,I BEACH, LOR I iA
will pay the bearer at the United States Mortgage & Trust Company
'Jew York City, the sum of 3 ,dollars in gold. coin
imamas provided inand for the interest then due on its Improvement
Bond dated
City Clerk.
7 . _ _ _
S :ChI0i' 3. That for the purpose of paying the
principal and interest of the said bonds as the same shall fall
i
due , there shall be and hereby is levied upon all the taxable
property within, said City of I'iami :each, a direct annual tax in
la ch year while any of said bonds shall F outstanding, sufficient
-- to meet the payment of the interest and principal thereof, maturing
in the "ollowing year , the proceeds of 1-rhich taxes, after the
payment of accruing interest upon said bonds, shall be paid into a
fund which is hereby created and denominated "Local Improvement
` Bond Lund", which shall be used for no other purpose than for the
payment of the principal of such bonds as they mature ; provided,
however, that the amount of such annual tax levy may be reduced
by the -mount contained in said Local Improvement Bond Fund at the
time of such levy , and by the amount of assessments actually col-
lected and then remaining in any special assessment fund or funds
applicable to the payment of said bonds.
Sr:CTIOi1 4. That there is hereby created a fund to
be denominated "Im rove <ien.t 'and No. ; into hich shall be placed
all accrued interest received upon said bonds for the period between
their date and their date of delivery, and into which fund shall
also be placed the principal and interest of all assessments made
pursuant to the Oity Charter for said improvements, and the said.
fund. shall be used for no other purpose than for the payment of the
principal addinterest or said bonds until all thereof shall have
beer redeemed and paid.
S :;CTI0 5. This resolution shall be in for and
1/
effect on andafter its passage and approval.
Passed and adopted 1 . 7J".'rday of . 4-7' A. L.
i
j 19 20 .
/ iir / ,
President, " r., ocil.
moi',._ -c;T :
City CJ.. rL.
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RES0LU T IOL
AUTHORI:I IG ,80,000.00_II:TROVE:=T BON S
"SERIES .�" LAT E.� SLPTLT3ER 1, 19 20 , ULI.L,ER
SECTION 30 OF Tki.W CITY CHARTER ,7E TiT CITY,
Or Ll ."_I BEACH, FEORI4,A.
ErE S, Section 30 of the City Charter of the
City of '. iami Beach authorizes the City Council, by ordinance or resolu-
tion to issue bonds of the city for the payment of the cost of any one
or more street improvements, or any pert of such cost, and for the re-
imbursement of any fun:.,. of the city from which any part of such cost
has theretofore been paid in an amount not greater than the contract
price,, and the estimatedamount of incidental expenses ; and
=PEAS the City Council has heretofore passed
resolutions ordering local improvements under Section 29 of the City
Charter, which resolutions were thereafter duly confirmed by the City
Council afte : advertisement published in accordance with the cherter and
due hearing thereon, and
VT=A2 the City Engineer ,"nly filedhis estimates
prior to the publication of such notices, of the cost of each of said
in rovemen is and of the incidental expenses thereunto appertaining, and
.`i EREAS contracts have 'been duly let afte-_• public
advertisement in accordance with the City Charter for the construction
of all of the said improvements, and
W ti++.LS the folio':ir is a list of the improvements
hereinabove referred to, and of the etes of passage of the several reso-
/ lutions authorizing the same , and. of the dates of confirmation of said
re ;olutionis with the amounts of said engineer' s estimates as to the in-
cidentals, together with the amounts of the contract price computed by
the en`ineer and confirmed 'by the City Council, in all cases in `-hich
contracts have beer let:
I : Orderin Co,:.Li—i ^ ;. Contract Price. Ir.cid.
410
1: ley. No. $ ' 5, : 1920 July 7, 1920 . 43.,3&9.2'7 .443'248,,q0
aighway No. •10- Iaay 5th, 1920 July 7th, 1920. 471,594.63 45,252.20
TY —__� --ITY COLI CI1a
n f
SEC`. 'IOd 1. Thu t for the purpose of paying a portion of
the cost of said improvements and the incidental expenses thereof,
there be issued the negotiable coupon bonds of the City of Miami
Beach, Florida, in the aggregate amount of Eighty Thousand and
no/100ths ( 80,000.00) ,dollars, said bonds to be denominated "Series
.," , and to consist of Eighty (80) bonds of One Thousand (:x;1,000.00)
,dollars each, numbered from One (1) to Eighty (80) both inclusive,
which said bonds shall bear date of September 1st, 1920, and carry
interest at the rate of six per centum (6,1per annum, payable semi-
_
an7ivally on the first days Jf :arch and September of each year, such
interest to be evidenced by coupons attached to said bonds, both
princi-pal and interest to be payable in gold coin of the United
States of America, of the present standard of weight and fineness,
at the office of the United States Mortgage and Trust Company, in
the City of 'ew York, and shall mature and bep�Y"a able as follows:
Bonds num ered 1 to 2, ag`regating 32000.00, Sept . 1, 1922.
It TT 3 TT 4, TT 2000.00, " 1, 1923.
n IV TT 6, TT 2000.00, " 1, 1924.
IT IT 7 TT 6,
,/ 2000.00, " 1, 1925.
IT TT 9 " 11, TT 3000.00, " 1, 192G.
TT TT 12 " 14, TY 3000.00 " 1, 1927.
TT IT 15' TT 18' TT 4000.00, TT 1, 1928.
TT TT 19 " 22T' 4000.00 " 1, 1929 .
TT TT 23 " 26, 'T 400.0.,^0, " 1190 .
It TT 27 " 31TT 5000.00 , TT 1, 1931.
TT TT 32 " 36, TT 5000.00 , " 1, 1932.
i' IT 37 " 41, TT 5000.00 , " l, 1933.
TT TT 42 TT 46 TT 5000 .00 , " 1, 1904.
TT TT 47 TT J1 TT 5000.00 , " 1, 1935.
TT T► 52 TT 56 IT 5000.00 , " 1, 1906.
T' " 57 TT 62 6000.00, " 1, 1937.
TT TT 63 " 68 Ti 6000.00 " 1, 1938.
TT " 69 TT 74 IT 6000.00, TT 1, 1939 .
if TT 75 TT 80 TT 6000.00, " 1, 1940 .
SLCTTIOii 2. Said bonds shall be signed by the Mayor and
City Clerk, attested by the City Auditor and sealed with the corporate
seal of the city of Miami Beach, Florida, and the coupons attached
thereto shall be sic.ned by the City Clerk, whose signature upon such
coupons may be in fac-simile , and the form of said bonds and coupons
shall be substantially as follows:
0_,0')0.00 b. I:L4, STATES OF I '?3ICI,. TSO.
State of Florida, County of lade.
City of Miami Beach ,
Improve .ent Bond
"Series ,.," .
Issued under Section 30, City Charter.
Zii01 13:141, LIJA 3Y THESE P_.- TS: T: .aT TEE CITY OF :d-la
.
Beach , in the County of jade and state of Florida , is justly
indebted and for value receive;, hereby promises to pay to the
bearer on the day of , 19 , the principal sum
of 0:::1. y0LL RS, with interest thereon at the rate of six
per cent (d-:) per annum, payable semi-annually on the
in each year , upon the presentation and surrender of
the annexed interest coupons as they severally become due . Both
principal and interest of this bond are payable in gold coin of
the United States at the present standard weight and fineness at
the United States i ortgage ?, Trust Company, in the City of -New York
and State of New York.
This bond is one of a series of eighty bonds of
like date, aggregating Eighty Thousand .I:ollars, and is issued for
to purpose of paying a portion of the cost of the improvements
known as :iL_hvzay Improvements Nos. 7 and 10; Tii`hti1a 7 iistricts Pros
y and 10, consisting of the grading and paving of certain streets
within said City of Miami Beach, as described in and authorized
by Resolution No. 1, adopted Lay 5, 1920, and confirmed by Resolution
'Vo. 3, adopted July 7, 1920 . This bond is issued under the authority
and n:ithin the limitations of and in full compliance with the charter
of the said City, and in particular Section 30 thereof, and Reso-
lution No. , duly adopted . The full faith,
credit and resources of said City of Miami Beach , are irrevocably
pledged to the prompt payment of the principal and interest thereof
as the same shall fall due, and to the application to said payment
of all assessments heretofore or hereafter made upon property within
said city for any p, rt of the cost of said irrrorovement . It is here
by certified and recited that all acts, conditions and things re-
quired to exist or to be done precedent to and_ in the- issuance of
this bond by said charter and the laws and constitution of said
State, have duly happened and been performed. Ti_ t provision has
been nide for the levy and collection of a direct annual tax n on
all taxable property within said city sufficient to pay the interest
and principal of this bond as the same shall become due ; and that
th total indebtedness of said City, including the bond, does not
exceed any constitutional or statutory limitation.
I ; T ITiTSS : :0F , said City of L:inmi Beach
has caused this bond to be sib=-:ned by its Mayor and Clerk, under its
R ' corporate seal, and attested by its , ditor, and the interest
coli :ons attached hereto, to be signed with the 'fac-simile signature
said Clerk, all as oftbe day of
�.
I�.T�
y o r
City Clerk.
City Auditor .
Y T
110.
T-2: CITY OF Mln.7-1 PLORILA
will pay the bearer at -til.- United States Mortgage c3 Trust Company
New York City, the sum of 3 yollars in r of coin as
provided in and for the interest t; en due on its Improve ent Bond
dated.
ted.
City Cl
-3-
SECTION 3. That for the purpose of paying the
principal and interest of the said bonds as the same shall fall
due, there shall be and. hereby is levied upon all the taxable
property within said City of Miami Beach, a direct annual tax in
each year while any of said bonds shall be outstanding, sufficient
to meet the payment of the interest and principal thereof, maturing
in the following year, the proceeds of which taxes, after the payment
of accruing interest upon said bonds, shall b ; paid into a fund which
is hereby created and denriioimated "Local Improvement Bond Fund -No. 4"
which shall be used for no otherurpose than for the payment of the
principal of such bonds as they mature; provided, however, that t1B
amount of such annual tax levy may be reduced by the amount contained
in said Local Improvement Bond Fund iso. 4 at the time of such Levy,
and by the amount of assessments actually collected and then re-
maining in any special assessment fund or funds applicable to the
payment of said bonds.
` CTICf 4. That t there is hereby created a fund to
i ::�...�. �•. 1 he
ki
be denominated "Improvement Fund No. 4", into which shall be placed
all accrued interest received upon said bonds for the period between
their date and their date of elivery, and into which fund shall
also be placed the principal and interest of all assessments made
pursua;_t to the City Charter for said improvements, and the said
fund shall be used for no other purpose than for the payient of the
principal and interest of lair bonds until all thereof shall have
been redeemed and paid.
Si C_IOi 5. This resolution shall be in force and
effect on and after its passage and approval._ � �l
Passed and adopted this �'"'' day of A. ,.
1920 .
Presi ent , City Council-.
City Cler .
AW
Approved this `n ` day of :=Rt t. .i. ; 1920.
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