Resolution 3996 RESOLUTION NO, 3996
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH,
FLORIDA:
Section 1: That the proposal of John Nuveen & Co. , Miami
Beach First National Bank, The Natco Corp. , The
Wells Dickey Co. , Childress and Co. , and Leedy
Wheeler & Co. , for the bonds as specified in said
proposal, which bonds were authorized by the City
Council in Resolution No. 00, adopted on Febru-
•
ary 5th, 1937, said proposal being in the words
and figures following:
be and the sane is hereby accepted.
The City Council, by unanimous vote of the members present,
does hereby resolve to sell said bonds at private sale and that
the above mentioned bid is the best price deemed obtainable for
said bonds, and that such price is not less than ninety-seven
cents on the dollar and accrued interest, and that said bonds are
hereby sold at private sale to the said John Nuveen & Co. ,
Miami Beach First National Bank , The Natco Corp. , The Wells
Dickey Co. , Childress and Co. , and Leedy Wheeler & Co. , and
Section 2: That the said $902,000.00 Series 1, Sanitary
Sewage Disposal Bonds, $144,000.00, Series 2,
Sanitary Sewer Extensions Bonds, $$350,000.00
Series 3, Storm Sewer System Bonds, $290,000.00
Series 4, Collins Avenue Paving Bonds, $35,000.00
Series 5, Washington Avenue Bridge Bonds,
137,000.00 Series 7, Fire Station Bonds and
100,000.00 Series 5, Water Storage Structure
Bonds shall bear interest at the rate of four
percent (4A) per annum, and
Section 3: That the City of Miami Beach does take advantage
of the option given by the bidder and does here-
by determine and agree to purchase the $100,000.00
Series 5, Water Storage Structure bonds from the
aforementioned buyers, paying the bid price plus
accrued interest, and the City Clerk is hereby
authorized and instructed to arrange to take up
and pay for said bonds at the time and place of
delivery as heretofore agreed, making said pur-
chase
as an investment of Trust Funds,
PASSED AND ADOPTED this 27th day of April, A. D. , 1937.
/ 3#
`'' Presiden of City Council
ATTEST:
ity Clerk
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ADVERTISEMENT
and
BLANK PROPOSAL
$ 1 , 938 ,000
CITY of MIAMI BEACH
FLORIDA 1
I f
Public Improvement Bonds
Dated April 1st, 1937
The Natco Corp. The Wells Dickey Co.
by W.R.Edwards By F.Childress,
Agent
hildress and Co.
by F.Childress,Agent
Leedy Wheeler & CO• Sealed bids will be received until 11:00 A. M. on
by Wm.4..Grigsby,Agent Monday, April 26th, 1937
i I
$1,938,000.00
CITY OF MIAMI BEACH, FLORIDA
PUBLIC IMPROVEMENT BONDS
Sealed bids will be received by the City Council, addressed to the undersigned and marked "Proposal for Bonds,"
until 11:00 o'clock A. M., on Monday, April 26th, 1937, for the following bonds of the City of Miami Beach:
$1,938,000.00 PUBLIC IMPROVEMENT BONDS
Denomination $1,000
Divided into Series as follows:
SERIES 1. SERIES 3.
Sanitary Sewage Disposal Bonds, $902,000.00, maturing annually Storm Sewer System Bonds, $380,000.00, maturing annually
April 1st and numbered as follows: April 1st and numbered as follows:
$ 29,000.__-_-____.__..________1938.____—____ Numbered 1 to 29 $ 13,000._______ ___-1938__— ___--Numbered 1 to 13
29,000._____--_—__.1939-___—__ — " 30 to 58 13,000.___—_____—__1939_—_-_`.__ " 14 to 26
29,000.._--____—______.1940__.____ " 59 to 87 13,000.__.__, .1940 __ _ " 27 to 39
88 to 96 4;000.____ __.1941____—_— __.. •' 40 to 43
9,000._______—._____ __.1942___—_._.—__— 97 to 105 4,000.____._______1942.____.__.—_____ " 44 to 47
106 to 114 4,000__-.__ __1943._ _ _ 90 48 to 51
9,000._x_-_____—_._1944______... " 1I5 to 123 4,000.......________1944 ______ " 52 to 55
124 to 132 4,000.____._ _.________1946—_ ______ " 56 to 59
29,000._._--___---1946_______ " 133 to 161 13,000 1946__--__..__ JP 60 to 72
' 39,000._ x_____1947.-_-- " 162 to 200 17,000.____-________-___.1947.___________ " 73 to 89
4 39,000.__________—___1948____ 201 to 239 17,000 1948_ " 90 to 106
39,000.____—___—_.1949.— _ __ " 240 to 278 17,000._______-.....__,.—_1949______ " 107 to 123
39,0Q0.-____.—_—__1950____-_ __ " 279 to 317 17,000._—_.—___—___ 1960___ ______ " 124 to 140
47,000.—_.__ __1951 " 318 to 364 20,000..____' 1951__—..___— " 141 to 160
58,000.___ ._-____.__1952_______ " 365 to 422 25,000.__ __._ 1952_ " 161 to 185
66,000.__—.--__,_1953. " 423 to 488 28,000.______._1953__—___—_—__ " 186 to 213
74,000. 31 000.___ ---..
1954. --_. 214 to 244
__________1954.____.___ " 489 to 562
82,000._.__—_—___ 1955—...__ —_ " 563 to 644 34,000._ ..1955____________ " 245 to 278
82,000._—_______________1956._ --_— 645 to 726 34,000..___—._.._—__.1956_________ " 279 to 312
176,000 1957 " 727 to 902 68,000..____—_.__.-__.1957 ____ 313 to 330
SERIES 2. SERIES 4.
Sanitary Sewer Extensions Bonds, $144,000.00 maturing annually Collins Avenue Paving Bonds, $290,000.00, maturing annually
April 1st and numbered as follows: April 1st and numbered as follows:
$ 5,000.---_______—__.1938-__________________.Numbered 1 to 5 $ 9,000..---.--_ --_.1938-------------.Numbered 1 to 9
5,000..—x___._____1939__ 6 to 10 9,000._____. ____ 1939.. — " 10 to 18
5,000._—___—_.__1940. —_ PP 11 to 15 9,000._ __.1940_____.__—__ " 19 to 27
2,000.-____.—_--_1941__._____ " 16 — 17 2.000.--.------_----.1941-- ------ " 28 — 29
2,000.—_____.. _1942 _.__ 18 — 19 2,000._ 1942 ____ " 30 — 31
2,000._—_—__.___—__1943________ —_ " 20 — 21 2,000 1943 —______ 32 — 33
_ PP 22 -- 23 + 2.000. 1944 _ —___—_.__+ 84 — 35
2,000._______1945._ -- " 24 — 25 2 000.-......---- .____1945- — 86.—. 87
{
5,000._____._._1946__________ " 26 to 30 9.000 ______.__1946 _________ 38 to 46
6,000.---_____—__1947_--____—._ " 31 to 36 12,000.--.-----------._--1947------_--_--_- 47 to 58
6,000._______.1948____ — PP 37 to 42 12,000.__ ___1948____._______ _.._ " 59 to 70 1
6,000-____..... —.___ 43 to 48 12,000._._ —_____1949_.___ " 71 to 82
6,000.__._..____ .1950_.. —____ PI 49 to 54 12,000.. ________1950__________ ( " 83 to 94' 4
7,000_______—__...1951.____ 55 to 61 16,000. 1951---_____— 95 to 109
ill + " 9,000._—__—_____-___1952_ 62 to 70 20 000.. ____—_.A952__________ " 110 to 129
i 11,000. _. 1953.__—___-_ 71 to 81 21,000. -- 1953_________! 6 130 to 150
, 12,000.. _—__—_.1954_-- —__ Pl 82 to 93 23,000. ---__1954 PP 151 to 173
13,000..__.--_____ 1955_____________ " 94 to 106 26,000. _1955_________ " 174 to 199
13,000._._ ________1956 __________--__ " 107 to 119 26,000.___—____..1956._ _ " 200 to 225
25,000 _ 1957 120 to 144 65,000 —_.________.1957_. ___._ " 226 to 290
ii
II
SERIES 5. SERIES 7.
Washington Avenue Bridge Bonds, $35,000.00, maturing annually Fire Station Bonds, $37,000.00, maturing annually April 1st and
April 1st and numbered as follows: - 1 numbered as follows:
$ 1,000.----_______1938_____-_ Numbered 1 $ 1,000.--________.1938_-----___Numbered 1
1,000--_------__--_-__-1939.____ " 2 1,000.-_-_--_3939-_____--_- " 2
1,000. - - 1940 ---- 3 1 1,000.------- 1940 - „ 8 ,
1,000.___-___ 1941-___-_______-- " 4 1,000.-_-__--__1941. - PP 4
1,000.__.____- 1942 - 6 1,000.____-__--__.1942__________ " 5 fi
1,000.----___--_-.1943----_--------_ 6 1,000.- _--_-- 1943 " 6
1,000..----__-_----1944--------___---- 7 1,000.___--__ _.1944-_-- __ " 7
1,000.____________-_-__.1946 T______.__ 8 1,000.-_____-_-__-1945. - 8
1,000.----------------__1946.___------ " 9 1,000.------_-----.1946-_--- -- " 9
2,000.____-___-____-1947 __--__- VP
10 - 11 2,000 1947 PP 10 11
2,000 -.-__-1948 -__-______ 12 - 13 2,000._-________.1948_____ " 12 - 13
2,000._-_`______-1949-__--_______ " 14 - 15 2,000._ - 1949.-___-_ ___ " 14 - 15
2,000.__-_ 1950 _____-_ " 16 - 17 2,000.-____ - 1950.__ - 16 - 17
18 - 19 2,000.__ _-___1951 PO 18 - 19
2,000._--_ 1952._ .._____ 20 - 21 3,000. __________1952_____ -- " 20 to 22
22 to 24 3,000.__ __ _-____1953-:-_ " 23 to 25
3,000.________ __1054._ ______ " 25 to 27 4,000.______-__-_-._1954_____ -__- " 26 to 29
3,000..________- 1055 _ " 28 to 30 4,000. 1955.______ 30 to 33
3,000 1956_______- " 31 to 33 3,000. 1956____ " 34 to 36
2,000. 1957 34 - 35 1,000 1957-__ " 37
SERIES 6. SERIES 8.
Polite Station Bonds, $50,000.00, maturing annually April 1st Water Storage Structure Bonds, $100,000.00, maturing annually
and numbered as follows: April 1st and numbered as follows:
$ 2,000.._____-_-______1938___________.Numbered 1 - 2 $ 3,000._ 1938_______Numbered 1 to 8
2,000.-.________ 1939____-_-__-_ 3 - 4 3,000.__ 1939.____--__. " 4 to 6
2,000.-----___-_-- 1940--- ------- 5 - 6 3,000. 1940----_--_-_-- " 7 to 9
1,000.------------ 1941 _ " 7 1,000. 1941.-------_----- " 10
1,000.--------. 1942.------- __ " 8 1,000.- -- 1942 --- „ 11
1,000.______.-_____1943_____ _- PP 9 1,000.__- _ 1943__________-__- 12
1,000.------_------_---1944.-_- -----_- " 10 1,000.---_---.---_-- 1944 _---- " 13
1,000_-_----_--- 1945-__ -_---_--- " 11 1.000.---------_--1946---_--_--_--- " 14
2,000.__-________ 1946. " 12 - 13 3,000...____-____ 1946________ " 15 to 17
2.000.-__- 1947 _-___ PP 14 - 15 4,000. -___- 1947 - " 18 to 21
16 - 17 4.000..-___-_-- 1948_____-__--__ 22 to 25
2;000.._-' 1949 ___ 18 - 19 4,000._ ___1949_______--___ " 26 to 29
2,000.,._.___-___-___1950.___,___-__-_. PP 20 - 21 4,000._____-_-____19550._ _ " 30 to 33
3,000.-------_-----_-__--195L___--__.__-- " 22 to 24 5,000..----_-__--.1951-- -----____-- " 34 to 38
3.000.-----_-._-_-____-_1952---- --_-------.-• " 25 to 27 6,000,._-_-.__---1952-_--- . _ " 39 to 44
28 to 31 7,000.______ 1953____- 45 to 51
32 to 35 8,000..________1954.______ " 52 to 59
5,000.--_________ 1955 -______- 36 to 40 9.000.__-_-__-____1955___________ " 60 to 68
5,000.-----__----1956-------------__-- " 41 to 45 9,000.--_-----_-_--- 1956__--- -__--_- 69 to 77
5,000,_____......___.1957_ - 46 to 50 23,000. 1957___________________ 78 to 100
No option of prior payment reserved. All bonds to be dated April 1st, 1937. Interest payable on April 1st and
October 1st. Bidder to name the interest rate, not exceeding four and one-half (4%%) percent. in a multiple of one quarter
- of one percent. Principal and semi-annual interest payable in lawful money of the United States at the Chemical Bank and
Trust Company, New York City. Registerable as to principal only; general City obligations; unlimited tax levy.
The bonds have been validated by decree of\\the Circuit Court and the purchaser will be furnished the approving
- legal opinion of Messrs. Caldwell and Raymond of New York City.
The bonds will be prepared under the supervision of The Continental Bank and Trust Company of New York City,
which will certify as to the genuineness of the signatures of the officials and the seals impressed thereon.
t Bids must be upon printed forms to be furnished,by the undersigned or by the said The Continental Bank and Trust
Company and must be enclosed in a sealed envelope marked "Proposal for Bonds" and be accompanied by a certified check
in the amount of two percent. (2%3T of the par value of the bonds being bid for, said check to be made payable to City of
Miami Beach. •
A bidder may tid on all or on one'or more of the eight series of bonds, but a separate bid must,in all cases be made on
each series bid 'ilnon,-in conformity with the provisions of the bidding form. Bidder may submit alternate bids at different
rates of interest, but all of the bonds in a series must bear the same rate.
Comparison of bids will be made by'taking the cost of interest to the City at the rate named in the respective
bids mnd deducting therefrom the premium bid. No bid will be accented for less than the par value of the bonds and accrued
interest thereon and any bid not complying with the terms of this notice will be rejected, and all bids must be unconditional. ,
The bonds will be delivered to the successful bidder at The Continental Bank and Trust Company in New York City
on or about twenty days after sale.
The right to accept or reject any and all bids by series is reserved.
C. W. TOMLINSON, City Clerk.
Imo
PROPOSAL FOR BONDS For $50,000. City of Miami Beach, Series 6, Police
Station Bonds, as described in the attached notice of sale,
which is hereby made a part of this bid, we will pay
1937
Mr. C. W. Tomlinson, for % Bonds,
City Clerk,
Miami Beach, Florida. _
Dear Sir:
Dollars ($
For $902,000. City of Miami Beach, Series 1, Sanitary )
and accrued interest to date of delivery.
Sewage Disposal Bonds, as described in the attached notice
of sale, which is hereby made a part of this bid, we will
pay for ____ % Bonds, For $37,000. City of Miami Beach, Series 7, Fire
Station Bonds, as described in the attached notice of
sale, which is hereby made a part of this bid, we will
Dollars ($ ) pay for % Bonds,
and accrued interest to date of delivery.
For$144,000. City of Miami Beach, Series 2, Sanitary
Sewer Extensions Bonds,as described in the attached notice Dollars ($
of sale, which is hereby made a part of this bid, we will and accrued interest to date of delivery.
paq for % Bonds,
For $100,000. City of Miami Beach, Series 8, Water
Storage Structure Bonds, as described in the attached
notice of sale, which is hereby made a part of this bid,
Dollars ($ )
and accrued interest to date of delivery. we will pay for % Bonds,_____
For $380,000. City of Miami Beach, Series 3. Storm
Sewer System Bonds, as described in the attached notice
of sale, which is hereby made a part of this bid, we will Dollars ($ )
andrue n e, est to ate of delivery.
pay for % Bonds, For 1 or A e above eaceptirg the 501[
Police Station we will pay 99.141 ands
We enclose herewith certified check in the amount of (_D
- 2% of the par value of bonds bid for, made payable to w
Dollars ($ ) the City of Miami Beach, which is to be returned to us �D
and accrued interest to date of delivery. if this bid is not accepted, but otherwise to be deposited m
by said City and when the bonds are delivered and paid c}
for under the terms of this bid, to be considered as an
For $290,000. City of Miami Beach, Series 4, Collins advance part payment therefor, or it is to be retained by i-q
Avenue Paving Bonds, as described in the attached notice said City as and for liquidated damages in case the under- 0
of sale, which is hereby made a part of this bid, we will signed fails to take up and pay for said bonds in accord
herewith.
pay for % Bonds, We will accept delivery of bonds at Continental Bank '
an Trust Company ' New k City.
and.
''
The
y i s to cave York option to puro
chase*1.00,000 Series 8 Water Storage
Dollars ($ ) Structure---bande----at---t ---above----price. p�
and accrued interest to date of delivery. John Nuveen & Co.
For $35,000. City of Miami Beach, Series 5, Wash- By � . ► ii t Jr:
ington Avenue Bridge Bonds, as described in the attached Miami Beach First National Bank
notice of sale, which is hereby made a part of this bid, F. L. Wall, Pres.
we will nay for % Bonds,
No addition or alteration is to be made to this pro-
posal and it must not be detached from the annexed
advertisement.
Dollars ($ — ) Note. Use additional proposal form in case you wish
and.accrued interest to date of delivery. to make an alternate bid.
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