Resolution 9522 RESOLUTION NO. 9522
WHEREAS Resolution No . 7127; providing for the issuance
of $1,500,000.00 parking revenue bonds and making certain covenants
and agreements in that connection, 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 sum of $15,000 .00 now in said fund 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 $15,000.00
now in the "Renewal and Replacement Fund" of the revenues of off-
street Parking System of the City of Miami Beach, in accordance
with and subject to said provision of Resolution 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 19th day of June A.D. 1957 •
4Z1_
Mayor
Attest•
City er
OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA
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