Resolution 5729 RESOLUTION NO. 5729
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA, AUTHORIZ-
ING THE ISSUANCE OF NEGOTIABL ; COUPON
BONDS AGGREGATING IN AMOUNT 1,670,000.00
FOR THE SEVERAL PURPOSES AUTHORIZED AT
AN ELECTION HELD ON APRIL 4, 1944.
WHEREAS, the City Council of the City of Miami Beach,
Florida, on the 1st day of March, 1944, adopted a resolution
authorizing the issuance of negotiable coupon bonds of the City
of Miami Beach for the several purposes and in the respective
amounts therein stated aggregating in amount One Million Six
hundred Seventy Thousand (;N1,670,000.00) Dollars, subject to the
authorization of the duly registered and qualified voters of
said City who are freeholders therein participating in the special
election, which said resolution directed to be held on April 4,
1944; and
WHEREAS, the said City Council on April 5, 1944, canvassed
the returns of the aforesaid election and found that the issuance
of said bonds had been approved by a majority of said votes cast
in said election, in which a majority of the freeholders who were
qualified electors residing in said City participated, and that a
majority of the votes cast upon each of the several issues of bonds
proposed to be made were in favor of each of said issues , and
declared and recorded in the manner prescribed by law the result
of said election and canvass, which several propositions so sub-
mitted at said election and approved as aforesaid were as follows:
1. "Shall the City of Miami Beach, Florida, issue
negotiable coupon bonds in the amount of Nine
Hundred Twenty Thousand (;, 920,000.00) Dollars,
with interest at a rate hereafter to be deter-
mined, not exceeding per annum, for the
purpose of acquiring, for golf course, park
and other municipal purposes, property located
in said City and known as "Bay Shore Golf
Course", which, if acquired by purchase, will
be conveyed to said City on the terms, and
in the manner set forth in Resolution ado. 5717
passed and adopted by the City Council on the
1st day of i41arch, A. D. 1944?"
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2. "Shall the City of ::=iami Beach, 'r'lorida,
issue negotiable coupon bonds in the amount
of Five Hundred Thousand(w500,000.00) Dollars,
with interest at a rate hereafter to be
determined, not exceeding 3ti per annum,
for the purpose of constructing a water
supply main across Biscayne Bay on or near
North Bay Causeway together with necessary
pumping equipment and connections to the
Miami Beach 'outer Distribution System?"
3. "Shall the City of la ami Beach, Florida, issue
negotiable coupon bonds in the amount of Two
idund.red Fifty Thousand ( ?250,000.00) Dollars,
with interest at a rate hereafter to be deter-
rained, not exceeding 3-- )/o per annum, for the
purpose of constructing additional trunk lines
and improvements to the pumping facilities at
the 11th Street and 28th Street sanitary sewer
pumping; systems including increasing the capa-
city of the force main from the 11th Street
system?"
NOW, THrAEFOR ;, BE IT hr;SOLV.i) by the City Council of the
City of Miami Beach, Florida, as follows:
SECTION 1. That pursuant to said election One i;illion Six
Hundred Seventy Thousand (y1,670,000.00) Dollars of negotiable
coupon bonds of the City of ;i ami Beach, Florida, be issued bearing
date July 1, 1944, and bearing interest at a rate to be hereafter
determined not exceeding three and one-half (3 ; ) per cent per annum,
payable semi-annually on the first day of January and first day of
July of each year, which interest shall be evidenced by coupons at-
tached to i;he 1,rincipal bonds, and both principal and interest snail
be payable in lawful money of the United States of America, at
Chemical Bank and Trust Company in New York City, which bonds shall
be registerable as to principal in accordance with the endorsement
which this resolution directs to be printed on said bonds and that
the City Clerk of said City is hereby designated Registrar for that
purpose.
SECTION 2. Said bonds shall be issued in three series and
amounts as follows :
Series 1: For the purpose of acquiring for golf course,
park and other municipal purposes, property
located in said City and known as
"Bay Shore Golf Course"
,?920,000.00
Series 2 : For the purpose of constructing a water supply
main across Biscayne Bay on or near North Bay
Causeway together with necessary pumping equipment
and connections to the is:iami Beach 'hater Distribution
STrst em
X500,000.00
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Series 3: ror the uruose of constructing additional
trunk lines and improvements to the pumping
facilities at the 11th Street and 28th Street
sanitary sewer pumping systems including
increasing the capacity of the force main
from the 11th Street system
, 250,000.00
Series 1 shall be in the principal amount of ,920,000.00;
shall be known as "Bay Shore Golf Course Bonds", and shall be
numbered and mature as follows :
Amount Maturity July 1 Numbered
,r 1,000.00 1946 1
1,000.00 1947 2
4,000.00 1948 3 to 6
5,000.00 1949 7 to 11
10,000.00 1950 12 to 21
10,000.00 1951 22 to 31
12,000.00 1952 32 to 43
12,000.00 1953 44 to 55
12,000.00 1954 66 to 67
12,000.00 1955 68 to 79
20,000.00 1956 80 to 99
21,000.00 1957 100 to 120
110,000.00 1958 121 to 230
100,000.00 1959 231 to 330
100,000.00 1960 331 to 430
110,000.00 1961 431 to 540
iIJ 120,000.00 1962 541 to 660
130,000.00 1963 661 to 790
130,000.00 1964 791 to 920
Series 2 shall be in the principal amount of , 500,000.00;
shall be known as "Water Supply Bonds" , and shall be numbered and
mature as follows :
Amount Iaturity July 1 Numbered
,rt, 1,000.00 1946 1
1,000.00 1947 2
2,000.00 1948 3 to 4
3,000.00 1949 5 to 7
6,000.00 1950 8 to 13
6,000.00 1951 14 to 19
6,000.00 1952 20 to 25
6,000.00 1953 26 to 31
6,000.00 1954 32 to 37
6,000.00 1955 38 to 43
6,000.00 1956 44 to 49
11,000.00 1957 50 to 60
60,000.00 1958 61 to 120
60,000.00 1959 121 to 180
60,000. 00 1960 181 to 240
60,000.00 1961 241 to 300
60,000.00 1962 301 to 360
70,000.00 1963 361 to 430
70,000.00 1964 431 to 500
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Series 3 shall be in the principal amount of 250,000.00;
shall be known as "Sanitary Sewer Pumping Systems Bonds" , and shall
be numbered and mature as follows:
Amount Maturity July 1 Numbered
1,000.00 1946 1
1,000.00 1947 2
1,000.00 1948 3
1,000.00 1949 4
4,000.00 1950 5 to 8
' 4,000.00 1951 9 to 12
4,000.00 1952 13 to 16
4,000.00 1953 17 to 20
4,000.00 1954 21 to 24
4,000.00 1955 25 to 28
4,000.00 1956 29 to 32
4,000.00 1957 33 to 36
30,000.00 1958 37 to 66
30,000.00 1959 67 to 96
30,000.00 1960 97 to 126
30,000.00 1961 127 to 156
30,000.00 1962 157 to 166
30,000.00 1963 187 to 216
34,000.00 1964 217 to 250
SECTION 3. That all of the bonds herein authorized shall
be in the denomination of One Thousand Dollars (;,1,000.00) each
and shall be designated "Public Improvement Bonds" followed by a
brief description of the purpose as hereinbefore provided, andshall
be alike in form except as to statement of series, l:urpose and the
dates of maturities and numbers, and the form of saidbonds, coupons
and registration endorsement, as well as the manner of execution of
said bonds and coupons and certificate of validation, shall be sub-
stantially as Follows :
No. UNITED STATES OF AI ERICA y1,000.00
STATE: OF FLORIDA, COUNTY OF DADE
CITY OF 1iIAidI BEACH
PUBLIC IMPROVEi+rthNT BOND
(Here insert series No. and statement of purpose)
KNOW AL1.., iY.EN BY THESE trR :SEATS that the City of i:'.iami 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 re-
gistered to the registered owner hereof, on the 1st day of July,
19 , the principal sum of
ONE THOUSAND DOLLARS
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with interest thereon at the rate of per cent per annum,
payable
semi-annually, on the first day of January and the first day of July
in each year, upon the presentation and surrender of the annexed in-
terest coupons as they severally become due. Loth the principal and
interest of this bond are payable in lawful money of the United States
of America, at the office of Chemical Bank & Trust Company in the City
of ,New York. r'or the prompt payment hereof, both principal and in-
terest, as the same shall become due, the full faith, credit and re-
sources of said City of iviami Beach are hereby irrevocably pledged.
This bondis one of a series of like tenor, date and amount,
but maturing at different ti:~es, issued by said City for the purpose
of paying the cost of certain public improvements in the City of
i.:iami Beach, Florida, as stated in the caption hereof and more par-
ticularly described in Resolution No. 5729 of the City Council of
said City, passed and adopted Aril 19th, 1944, under the authority
of and in full compliance with the Constitution and. Statutes of the
State of Florida, including Chapter 14715, General Laws of 121orida,
1931, and the City Charter, being Chapter 7672 of the Laws of Florida
of 1017, and acts amendatory thereof and supplemental thereto, and has
been duly authorized and approved by a majority of the votes cast in
an election in which a majority of the freeholders who are qualified
electors residing in said City participated, which said election was
called and held and the result declared and recorded in the manner
prescribedby law.
It is hereby certified and recited that all acts, conditions
and things required to happen, exist or to be done precedent to and
in the issuance of this bond by said charter and the laws and consti-
tution of the State of Florida, havehap1:ened, 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, in-
cluding this bond, does not exceed any constitutional or statutory
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limitation thereof. This bond may be registered as to principal in
accordance with the provisions endorsed hereon.
IN WITNESS WhEREOF the said City of 1iiami Beach, 4'l orid.a,
has caused this bond to be signed by its Eayor and City Clerk, under
its seal and the interast coupons attached hereto to be signed with
the facsimile signature of said Clerk, all as of the first day of
July, A. D. 1944.
Mayor
City Clerk
COUPON
No.
On 1, 19 , the City of Miami Beach, Florida, will
pay to the bearer at Chemical Bank U, Trust Company, New York City,
the sum of
Dollars in lawful money of the United States of America, as provided
in and for the interest then due on its tublic Improvement Bond,
Series , dated July 1, 1944, and numbered
City Clerk
ENDORSrI'LENT CONCERT 1*NG VAL:LDATIOI .
Validated and confirmed by decree of the Circuit Court for the
Eleventh Judicial Circuit of the State of Florida, in and for Dade
County, on 1944.
Clerk of the Circuit Court of the
Eleventh Judicial Circuit for Dade
County, !;'1ori0a.
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ENDORs:dEENT CONCERNING REGISTRATION.
This bond may be registered as to principal in the bond
registry of said City, notation of such registration to be made '�e.reon
by the City Clerk, or by such other officer or agent as may be desig-
nated Registrar by resolution of the governing body of said City and
may thereafter be transferred on such register by the registered
owner in :Terson, or by attorney, upon the presentation to the Bond
Registrar, accompanied by delivery of a written instrument of trans-
fer in a form approved by the Bond Registrar and executed by the
registered owner; such transfer may be to bearer, after which this
bond shall be subject to successive registration and transfer as
before. Notwithstanding the registration of this bond, the coupons
shall remain payable to bearer and shall be transferable by delivery.
Date of Registration name of Registered Owner Registrar
SECTION 4. That in each year while any of said bonds shall
be outstanding tlxre 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 and shall be used for no
other purpose than the ;payment of said princiial and interest.
SECTION 5. That the City Attorney is hereby authorized and
directed to proceed to have said bonds validated in the name of said
City by the Circuit Court of Dade County.
SLCTIOiV 6. That the :.:ayor and City Clerk are hereby authorized
and directed to execute said bonds and affix the seal of said City
thereto and that they and the City Attorney take such steps as may
be necessary to effect an early sale anddelivery of said bonds.
SEST-jt`: 7. That this resolution shall be in force and effect
immediately upon its adoption.
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PASSED and ADOPT.LD this 19th day of April, A. D. 1944.
fljL
Acting Mayor a d C a rman of Ci y Council
A EJ-1 i
A
Cit erk
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