Resolution 5565 RESOLUTION NO. 7565
AS, the City of Miami Beach has recently purchased
property formerly owned by the Miami Beach Hospital, Inc. , and now
known as Miami Beach City Hospital; and
WHEREAS, at the time of the purchase of said property the
benefits of certain fire and windstorm insurance policies were taken
over by said City; and
WHEREAS, the premiums in said policies were covered by
contracts with the Atlantic National Bank of Jacksonville, Florida,
which contracts provided for payments to said Bank as follows :
On account of Policy No. 563242, of Rhode Island
Insurance Company, an unpaid balance of ;;1,267.50,
payable as follows : February 1st, 1943, ,p422.5O;
February 1st, 144, 022.50; February 1st, 1945,
022.50;
On account of Policy No. T-516655 of Rhode Island
Insurance Company, an unpaid balance of ;)1,093.26,
payable as follows : June 1st, 1942, ; 273.32;
June 1st, 1943, „:273. 32; June 1st , 1944, ;273.31;
June 1st, 1945, 4,273.31;
and
ah.E AS, the Atlantic National Bank of Jacksonville has
requested the City of Miami Beach to execute a written instrument
by the terms of which the said City shall assume and agree to pay
the balances under said contracts, and to agree that said -policies
of insurance shall remain subject to the terms, provisions and con-
ditions of said contracts until fully paid.
NOW THEREFORE, BE IT RESOLVED by the City Council of the
City of Miami Beach, Florida, that the Mayor and City Clerk of said
City be and they are hereby authorized to execute, in the name of
and on behalf of said City, agreements by the terms of which said
City shall assume and agree to pay said premiums and shall agree that
said policies shall remain subject to the terms, provisions and con-
ditions of said contracts until fully paid.
PASSED and ADOPTED this let day of July , A. L). 1942.
Yayor
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