Resolution 9626 RESOLUTION NO . 9626
WHEREAS, on October 15, 1953, the City of Miami Beach
entered into an agreement with B. J. VAN INGEN & CO. , INC ., and
ATWILL AND COMPANY, INC , in connection with the sale of
$500,000.00 Parking Revenue Certificates, by the terms of which
said B. J. VAN INGEN & CO. INC . and ATWILL AND COMPANY, INC.
were to be paid a fee equal to one and one-half percent (1 ) of
the par value of said certificates for certain services by them
to be performed; and
WHEREAS, the sale of said certificates has never
been consummated; and
WHEREAS, the City now contemplates the sale of not
to exceed $2,000,000.00 of Parking Revenue Certificates and
desires to extend the terms of the agreement of October 15, 1953
in order to procure the services of said B. J. VAN INGEN & CO. INC.
and ATWILL AND COMPANY, INC. in connection with the said additional
certificates; and
WHEREAS, B. J. VAN INGEN & CO . INC . and ATWILL AND
COMPANY, INC . have, under date of September 6, 1957, submitted
a letter to the Mayor and the City Council of said City, by
the terms of which it is proposed that the agreement of
October 15, 1953 be amended so as to provide for the entire
$2,000,000.00 of certificates and it is proposed that all of
the terms of the agreement of October 15, 1953 are to continue
in force, except that the fee to the said B. J. VAN INGEN & CO. INC.
and ATWILL AND COMPANY, INC . will be three fourths of one percent
(3/4ths of 1%) of the par value of certificates issued and sold
in excess of $500,000.00, the issuance and sale of which was
contemplated in the agreement of October 15, 1953; and
WHEREAS, said letter of September 6, 1957 provides
that its acceptance by the City will constitute the desired
extension and amendment of the agreement of October 15, 1953;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and the
City Clerk of said City be and they are hereby authorized and
directed to accept the said proposal dated September 6, 1957
in the name of and on behalf zf said City. ,
PASSED AND ADOPTED this • h 'ay of Novembef , , A.D. 1957.
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Vise T=yor
Attest :
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OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA
B. J. VAN INGEN & CO. INC.
MUNICIPAL BONDS
ROBERT H. COOK Du PONT BUILDING NEW YORK
VICE PRESIDENT MIAMI 32, FLORIDA CHICAGO
September (I, 1957
Honorable Mayor and City Council
City of Miami Beach, ie: Parking Revenue Certificates
Florida
Gentlemen:
Under date of October 15, 1953, we entered into an agreement with the City
contemplating the issuance of $500,000 Parking Revenue Certificates pari
passu with the presently outstanding Parking Revenue Certificates. Said
issue was prepared, validated and offered for sale. Subsequently, the
offer was cancelled and the sale postponed at the request of the City
We understand that present plans will require approximately $2,000,000 in
new funds and we therefore propose that the existing agreement be amended
to provide for the additional funds now required. All the teras of the
October 15, 1953, agreement to continue in force except that the fee to
the undersigned will be Three-fourths of One Per Cent (3/L of 14) of the
par value of certificates issued and sold in excess of 4500,000 contemplated
in the contract of October 15, 1953.
Your acceptance of this letter by appropriate action of the City Council
will constitute an extension and amendment of the agreement dated October 15,
1953, between the City and the undersigned.
Respectfully submitted,
B. J. VAN INGEN & CO. Inc.
ATWILL ANI COMPANY, INC.
BY: B. J 114iL i & CO. Inc.
By
Vice-President
ACCEPTED BY THE CITY OF MIAMI BEACH, FLORIDA, THIS 6th DAY OF Nov; bar,
1957. ,111
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ATTEST:
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