Resolution 5712 RESOLUTION NO. 5712
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA:
Section 1. That the proposal of Fox, Reusch & Co. , Baum, Bernheimer
Co. and Corrigan & Company, Inc. for the bonds as specified
in their first bid (indicating 1 3/4% interest, ) which bonds were
authorized by the City Council in Resolution No. 5656, adopted on July
21, 1943, said first bid being in the words and figures following:
PROPOSAL FOR BONDS
- February- 9 1944
Advertisement and Blank
Mr. C. W. Tomlinson,
City Clerk, Proposal
Miami Beach, Florida.
Dear Sir:
For$124,000 City of Miami Beach, Florida, Refund-
ing Bond Issue of 1944, as described in the attached
notice of sale, which is hereby
ereby made a part of this bid,
we will pay for 1 3/4 % Bonds
ONE HUNDRED AND TWENTY THOUSAND THREE
$124,000
HUNDRED SIXTY SIX 80/100 — — Dollars
$120,366.ffi0 CITY OF
($ ) and accrued interest to date of delivery.
or (In case you wish to make an alternate bid on a MIAMI BEACH, FLORIDA
different rate of interest)
ALTERNATE BID REFUNDING BOND
For$124,000 City of Miami Beach, Florida, Refund- ISSUE OF 1944
ing Bond Issue of 1944, as described in the attached
notice of sale, which is hereby made a part of this bid,
we will pay for 96 Bonds
Dollars
($ )and accrued interest to date of delivery.
We enclose herewith certified check in the amount
of$2,480.00,being two percent of the par value of bonds
bid for, payable to the City of Miami Beach, which en-
closure is to be returned to us if this bid is not accepted,
but otherwise to be deposited by said City,and when the
bonds are delivered and paid for under the terms of this
bid, to be considered as an advance part payment there-
for, or it is to be retained by said City as and for liqui-
dated damages in case the undersigned fails to take up
and pay for said bonds in accord herewith.
We will accept delivery,as specified in the attached
notice of sale, at The Continental Bank & Trust Com-
pany of New York, in New York City, or at
Fox, Reusoh & -'Co.
Baum, Bernheimer Co.
Corrigan & Company, Inc.
BY: CORRIGAN & COMPANY, INC. Sealed bids will be received until 12 noon,
Per (Signed) E. L. English on Wednesday, February 9, 1944
Vice Pres. & Treas.
No addition or alteration is to be made to this pro-
posal and it must not be detached from the annexed
advertisement.
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•
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$124,000.00
CITY OF MIAMI BEACH, FLORIDA
• REFUNDING BOND ISSUE OF 1944
Sealed bids will be received by the City Council, addressed to the undersigned, at the City Hall in Miami Beach, Florida,
until 12:00 o'clock noon, on Wednesday, February 9th, 1944, marked "Proposal for Bonds", for the following bonds of the
City of Miami Beach:
$124,000.00 Refunding Bonds, maturing annually March 1st, as follows:
$4,000.00 1947 $5,000.00 1953 $10,000.00 1959
4,000.00 1948 5,000.00 1954 10,000.00 1960 •
4,000.00 1949 5,000.00 1955 12,000.00 1961
4,000.00 1950 5,000.00 1956 12,000.00 1962
5,000.00 1951 5,000.00 1957 12,000.00 1963
5,000.00 1952 5,000.00 1958 12,000.00 1964
No option of prior payment is reserved.
The bonds to be dated March 1st, 1944. Interest payable on March 1st and September 1st. Bidder to name the interest
rate, not exceeding three and one-half (3V/2) percent, in a multiple of not less than 1/10 of one percent. Principal and semi-
annual interest payable in lawful money of the United States at the Chemical Bank and Trust Company in New York City.
Denomination$1,000.00, registerable as to principal only; general obligations; unlimited tax levy.
The bonds have been validated by decree of Circuit Court and purchaser will be furnished the approving legal opinion of
Messrs. Caldwell, Marshall, Trimble and Mitchell, of New York City.
The bonds will be prepared under the supervision of The Continental Bank &Trust Company of New York City, which
will certify as to the genuineness of the signatures of the officials and the seal impressed thereon.
Bids must be upon printed forms to be furnished by the undersigned or by the said The Continental Bank &Trust Com-
pany. Bids must be enclosed in a sealed envelope marked "Proposal for Bonds" and be accompanied by a certified check in
the amount of$2,480.00 drawn in favor of the City of Miami Beach. Bidders may submit alternate bids at different rates of
interest, but all of the bonds of this issue must bear the same rate and all bids must be unconditional.
Comparison of bids will be made by taking the cost of interest to the City at the rate named in the respective bids and
deducting therefrom the premium bid.
The bonds will be delivered and must be paid for on or about March 1st, 1944 at The Continental Bank & Trust Company
in New York City, or elsewhere as may be mutually arranged between the City of Miami Beach and the purchaser.
The right to reject any and all bids is reserved.
Financial statement or other required data concerning the City of Miami Beach will be furnished by the undersigned upon
request.
C. W. TOMLINSON, City Clerk
• CITY OF MIAMI BEACH, FLORIDA.
be and the same is hereby accepted, the City Council hereby resolving
that the above mentioned bid is the most advantageous bid received
for said bonds, and that said bonds are hereby sold for One Hundred
Twenty Thousand Three Hundred Sixty-six Dollars and 80/100 Cents
( $120,366.80) and accrued interest to date of delivery, to Fox, Reusch
& Co. , Baum, Bernheimer Co. and Corrigan & Company, Inc. , and
Section 2. That the said $124,000.00 City of Miami Beach, Florida
Refunding Bond Issue of 1944 shall bear interest at the
rate of one and three quarters percent. (1 3/4%) per annum.
PASSED and ADOPTED on this the 9th day of February, A. D. 1944.
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