Resolution 9202 RESOLUTION NO. 9202
WHEREAS, out of the revenues of the Off-Street
Parking System of the City of Miami Beach, there has been
paid into the "Renewal and Replacement Fund" of said system
the sum of fifty thousand dollars ($50,000.00) , and
WHEREAS Resolution No . 7127 provides, in part,
as follows :
"All or any part of the money in the
Renewal and Replacement Fund shall at
the request of the city be invested by
the Depositary in direct obligations
of the United States of America or
other marketable securities eligible
as security for the deposit of trust
funds under regulations of the Board
of Governors of the Federal Reserve
System. "
and
WHEREAS the City Council of the City of Miami
Beach deems it to be for the best interests of the City
of Miami Beach that the said sum be invested pursuant to
said provision,
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Miami Beach that the Miami Beach First National
Bank, as the Depositary of said Revenues and Fund be, and it
is, hereby requested and directed to invest the said sum of
fifty thousand dollars ($50,000.00) now in the "Renewal and
Replacement Fund" of the revenues of the Off-Street Parking
System of the City of M._ami Beach, in accordance with and
subject to said provision of Resulution No . 7127, maturing
not later than January 1, 1959, and
BE IT FURTHER RESOLVED by the City Council of
the City of Miami Beach that a duly certified copy of this
Resolution be transmitted to the Miami Beach First National
Bank.
PASSED and ADOPTED this 1st day of February
A .D. 1956.
ayor
Attest:
`76-41- yK)16*-
OFFICE OF CITY ATTORNEY- CITY HALL - MIAMI BEACH 39, FLORIDA
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