Resolution 9731 RESOLUTION NO. 9731
A RESOLUTION CONFIRMING THE SALE AND FIXING
THE INTEREST RATES FOR $11850,000 PARKING
REVENUE BONDS, SERIES 1958, OF THE CITY OF
MIAMI BEACH, FLORIDA
WHEREAS, sealed bids for the purchase of $1,850,000
Parking Revenue Bonds, Series 1958, of the City of Miami Beach
have been received, and it has been determined that the bid of
GOLDMAN,SACHL & CC. of
NEW YORK_ , NEW YORK ,
and associates, is the highest and best bid received, which
bid is as follows :
PROPOSAL FOR
CITY OF MIAMI BEACH, FLORIDA
PARKING REVENUE BONDS, SERIES 1958
March 12 ,1958
City Council of the
City of Miami Beach, Florida
Gentlemen:
We make the following offer for the $1,850,000 Parking Revenue Bonds, Series 1958,
of the City of Miami Beach, Florida, described in the Official Notice of Sale,
which Notice is hereby made a part of this bid, this offer being for all of said
bonds and not for less than all:
For $1,850,000 Parking Revenue Bonds, Series 1958, maturing and bearing interest
as follows:
Year of Principal Interest Year of Principal Interest
Maturity Amount Rate Maturity Amount Rate
1959 ,90,000 5 % 1969 Z95,000 14 %
1960 90,000 % 1970 95,000 '""' 4 %
1961 90,000 �% 1971 95,000 4 %
1962 90,000 -----5—% 1972 95,000 _____.4.-_.%
1963 90,000 ----5.—% 1973 95,000 ---.7—%
1964 90,000 -----7-1, 1974 95,000 4 %
1965 90,000 MINNIIIINVM11770 1975 95,000 ------7—%
1966 90,000 '—" "'% 1976 95,000 -'""-'Z—%
1967 90,000 10 1977 95,000 —...7...%
1968 90,000 % 1978 95,000 4 %
RESOLUTION NO. 9731
A RESOLUTION CONFIRMING THE SALE AND FIXING
THE INTEREST RATES FOR $1,850,000 PARKING
REVENUE BONDS, SERIES 1958, OF THE CITY OF
MIAMI BEACH, FLORIDA
WHEREAS, sealed bids for the purchase of $1,850,000
Parking Revenue Bonds, Series 1958, of the City of Miami Beach
have been received, and it has been determined that the bid of
GOLDMAN,SACH; & CO. of
NEW YORK , NEW YORK ,
and associates, is the highest and best bid received, which
bid is as follows :
PROPOSAL FOR
CITY OF MIAMI EACH, FLORIDA
PARKING REVENUE BONDS, SERIES 1958
March 12 ,1958
City Council of the
City of Miami Beach, Florida
Gentlemen:
We make the following offer for the $1,850,000 Parking Revenue Bonds, Series 1958,
of the City of Miami Beach, Florida, described in the Official Notice of Sale,
which Notice is hereby made a part of this bid, this offer being for all of said
bonds and not for less than all:
For $1,850,000 Parking Revenue Bonds, Series 1958, maturing and bearing interest
as follows:
Year of Principal Interest Year of Principal Interest
Maturity Amount Rate Maturity Amount Rate
1959 $90,000 5 % 1969 $95,000
1960 90,000 % 1970 95,000
1961 90,000 % 1971 95,000 4 %
1962 90,000 ---5—% 1972 95,000 _____.7.1,
1963 90,000 __ __r
_ .__% 1973 95,000 _____I_%
1964 90,00o '11 "% 1974 95,000 4 %
1965 90,000 -% 1975 95,000 ...........-7.%
1966 90,000 ---__7__% 1976 95,000 4 %
1967 90,000 % 1977 95,000 4 %
1
1968 90,000 —" 7.—% 1978 95,000 4 %
We will pay the principal sum of ONE MILLION EIGHT HUNDRED FIFTY THOUSAND DOLLARS
(bl,850,000) plus a premium in the amount of One Jundred
Eleven and no/100 Dollars (� 111.00 )
together with accrued interest to date of delivery, and will accept delivery at
Chemical Corn Exchange Bank, 165 Broadway, New York City or at
The City will furnish the unqualified legal opinion of Messrs. Chapman and Cutler
and a non-litigation certificate, and will make delivery on or about April 14, 1958.
We enclose herewith certified or cashierts or treasurerts check for n37,000 payable
to the order of the City of Miami Beach, which check is to be returned to us if this
bid is not accepted but otherwise is to be held by the City, and when the bonds are
delivered and paid for under the terms of this bid, may be considered as an advance
part payment therefor or, in case we fail so to take up and pay for the bonds, is
to be retained as and for full liquidated damages.
GOLDMAN, SACHS & CO.
WHITE, WELD & CO.
A3 JOINT MANACIEh7
(Signed) Hagood Clarke . Jr.
BY HAGOOD CLARKE, JR. OF GOLDMAN,SACHS
& CO,
The aggregate amount of interest maturing on said Bonds, computed from January 1,
1958 to the absolute maturity dates of said Bonds, at the interest rates stated in
the above Proposal, after deducting the premium, if any, specified in the above
Proposal, is $ 800,389.00 = 4.068 .
(No addition or alteration, except as provided above, is to be made to
this proposal).
NOW, THEREFORE, Be It Resolved by the City Council
of the City of Miami Beach, Florida :
SECTION 1. That $1,850,000 Parking Revenue Bonds,
Series 1958 of the City of Miami Beach authorized by Resolution
No. 9651 duly adopted on December 18, 1957, are hereby awarded
to GOLDMAN, SACHS & CO. of NEW YORK ,
NEW YORK , and associates, pursuant to the bid
which is set out in full in the preamble hereto.
SECTION 2. That said bonds shall bear interest at
the following rates :
Bond Numbers Amount Year Interest Rate
1 to 90 $ 90,000 1959 5%
91 to 180 90,000 1960 5%
181 to 270 90,000 1961 5%
271 to 360 90,000 1962 5%
361 to 450 90,000 1963 5%
451 to 540 90,000 1964 4%
541 to 630 90,000 1965 4%
631 to 720 90,000 1966 4%
721 to 810 90,000 1967 4%
811 to 900 90,000 1968 4%
901 to 995 95,000 1969 4%
996 to 1090 95,000 1970 4%
1091 to 1185 95,000 1971
1186 to 1280 95,000 1972 4%
1281 to 1375 95,000 1973 4%
1376 to 1470 95,000 1974 4%
1471 to 1565 95,000 1975 4%
1566 to 1660 95,000 1976 %
1661 to 1755 95,000 1977 4%
1756 to 1850 95,000 1978 4%
SECTION 3. That all resolutions or parts thereof in
conflict herewith are to the extent of such conflict hereby
repealed and that this resolution shall be in full force and
effect immediately upon its adoption.
PASSED and ADOPTED March 12th, A. D. 1958.
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