Resolution 10138 RESOLUTION NO. 10138
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MIAMI BEACH, FLORIDA, AUTHORIZING THE ISSUANCE
OF NEGOTIABLE COUPON BONDS AGGREGATING IN AMOUNT
$5,942,000.00 FOR THE SEVERAL PURPOSES AUTHORIZED
AT AN ELECTION HELD ON JUNE 2, 1959.
WHEREAS, the City Council of the City of Miami
Beach, by Resolution No. 10084, adopted on the 8th day of
April, 1959, and amended on the 24th day of April, 1959, by
Resolution No. 10104, authorized the issuance of negotInble
coupon bonds of the City of Miami Beach for the several
purposes and in the respective amounts therein stated,
aggregating in amount $6,292,000.00, subject to the authorization
of the duly registered and qualified voters of said City who were
freeholders therein participating in the special election which
said resolutions direcie d to be held on June 2, 1959; and
WHEREAS, the said City Council on June 3, 1959
canvassed the returns of the aforesaid election and found that
the issuance of said bonds in the aggregate amount of $5,942,000.00
had been approved by a majority of the 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 in the
aggregate amount of $5,942,000.00 proposed to be made were in
favor of each of said issues, and found that a majority of the
votes cast upon each of two of said issues in the aggregate amount
of $350,000.00 were against the issuance thereof, and declared
and recorded, in the manner prescribed by law, the result of
said election and canvass, which several propositions so submitted
at said election and approved as aforesaid were as follows :
- 1 -
1 . Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $75,000.00 with interest at a
rate to be hereafter determined, not exceeding 4% per annum,
for the purpose of constructing storm sewers?
2. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $160,000.00 with interest
at a rate to be hereafter determined, not exceeding 4% per
annum, for the purpose of making improvements to the existing
sanitary sewer system?
5. Shall the City of Miami Beach, Florida, issi.e negotiable
coupon bonds in the amount of $100,000.00 with interest at
a rate to be hereafter determined, not exceeding 4% per
annum, for the purpose of procuring a ladder truck and
enlarging the 69th Street Fire Station?
6. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $600,000.00 with interest at a
rate to be hereafter determined, not exceeding 4% per annum,
for the purpose of constructing a new building to house the
Miami Beach Public Library?
7. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $1,100,000.00 with interest
at a rate to be hereafter determined, not exceeding 4%
per annum, for the purpose of paving that portion of
Alton Road extending from Biscayne Waterway to 63rd Street
and constructing a four lane bridge across Surprise Waterway
at Alton Road?
8. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $345,000.00 with interest at a
rate to be hereafter determined, not exceeding 4% per annum,
for the payment of all or a part of which a special annual
tax will be levied, the amount of which levy will be reduced
by collections from special improvement assessments made
against abutting property, as authorized by law, for the
purpose of paving (including sidewalks) the following highways :
73rd Street from Collins Avenue to. Dickens Avenue; 76th Street
from Collins Avenue to Dickens Avenue; 78th Street from Collins
Avenue to Dickens Avenue; 79th Street from Collins Avenue to
Dickens Avenue; 81st Street from Collins Avenue to Byron
Avenue; 82nd Street from Collins Avenue to Harding Avenue; 82nd
Street from Abbott Avenue to Byron Avenue; 82nd Terrace from
Abbott Avenue to Byron Avenue; 83rd Street from Collins Avenue
to Abbott Avenue; 84th Street from Collins Avenue to Byron
Avenue; 87th Street from Collins Avenue to Harding Avenue;
87th Terrace from Collins Avenue to Harding Avenue; Abbott
Avenue from 75th Street to 83rd Street; 84th Street from
Hawthorne Avenue to Crespi Boulevard?
9. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $77,000.00 with interest
at a rate to be hereafter determined, not exceeding 4%
per annum, for the payment of all or a part of which a
special annual tax will be levied, the amount of which
levy will be reduced by collections from special
improvement assessments made against abutting property,
as authorized by law, for the purpose of paving Stillwater
- 2 -
Drive and North Stillwater Drive from Hawthorne Avenue
to their westerly ends and for the purpose of constructing
sidewalks on the north side of North Stillwater Drive and
Stillwater Drive from the east line of Lot 62, Block 15,
to the south line of Lot 1, Block 15, and the south side
of Stillwater Drive from the south line of Lot 1, Block 16,
to the north line of Lot 58, Block 16, all in Biscayne Beach
Second Addition?
10. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $185,000.00 with interest at
a rate to be hereafter determined, not exceeding 4% per
annum, for the payment of all or a part of which a special
annual tax will be levied, the amount of which levy will be
reduced by collections from special improvement assessments
made against abutting property, as authorized by law, for
the purpose of paving the following highways : Crespi
Boulevard from Hawthorne Avenue to 86th Street; 80th Street
from Hawthorne Avenue to Crespi Boulevard; 81st Street from
Hawthorne Avenue to Crespi Boulevard; 82nd Street from
Hawthorne Avenue to Crespi Boulevard; 83rd Street from
Hawthorne Avenue to Crespi Boulevard; 86th Street from
Hawthorne Avenue to Crespi Boulevard?
11. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $2,060,000.00 with interest at
a rate to be hereafter determined, not exceeding 4% per annum,
for the purpose of constructing a new water supply main from
Miami to Miami Beach, including pumping stations, and the
relocation of a portion of the MacArthur Causeway supply main
and extensions to the water distribution system?
12. Shall the City of Miami Beach, Florida, issue negotiable coupon
bonds in the amount of $525,000.00 with interest at a rate to
be hereafter determined, not exceeding 4% per annum, for the
purpose of constructing a public park on the ocean front
extending from Collins Avenue to the Atlantic Ocean and
located between 75th and 87th Streets?
13. Shall the City of Miami Beach, Florida, issue negotiable coupon
bonds in the amount of $165,000.00 with interest at a rate
to be hereafter determined, not exceeding 4% per annum, for
the purpose of constructing a Community Center and Teen-Age
Activities Building in that part of the City lying north of
63rd Street?
14. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $400,000.00 with interest at a
rate to be hereafter determined, not exceeding 4% per annum,
for the purpose of constructing a bridge across Collins Canal
and Dade Boulevard at Michigan Avenue?
15. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $150,000.00 with interest at a
rate to be hereafter determined, not exceeding 4% per annum,
for the purpose of constructing a garden center?
The two propositions so submitted at said election, which
were disapproved as aforesaid, were as follows :
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3. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $150,000.00 with interest at
a rate to be hereafter determined, not exceeding 4% per annum,
for the purpose of lengthening the existing fishing pier
at Biscayne Street in the Atlantic Ocean?
4. Shall the City of Miami Beach, Florida, issue negotiable
coupon bonds in the amount of $200,000.00 with interest at
a rate to be hereafter determined, not exceeding 4% per annum,
for the purpose of constructing a pier at Lincoln Road in the
Atlantic Ocean?
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA:
SECTION 1. That pursuant to said election Five Million, Nine
Hundred Forty-two Thousand ($5,942,000.00) Dollars
of negotiable coupon bonds of the City of Miami Beach, Florida,
be issued bearing date September 1, 1959 and bearing interest at
a rate to be hereafter determined, not exceeding 4% per annum,
payable semi-annually, on the first day of March and September
of each year, which interest shall be evidenced by coupons
attached to the principal bonds, and both principal and interest
shall be payable in lawful money of the United States of America
at Chemical Corn Exchange Bank in New York City, which bonds
shall be registrable 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 Thirteen (13) Series
and in amounts as follows :
SERIES 1 : For the purpose of constructing storm sewers $ 75,000.00
SERIES 2: For the purpose of making improvements to
the existing sanitary sewer system $160,000.00
SERIES 3: For the purpose of procuring a ladder truck
and enlarging the 69th Street Fire Station $100,000.00
SERIES 4 : For the purpose of constructing a new building
to house the Miami Beach Public Library $600,000.00
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SERIES 5: For the purpose of paving that portion of
Alton Road extending from Biscayne Waterway to
63rd Street and constructing a four lane bridge
across Surprise Waterway at Alton Road $1,100,000.00
SERIES 6: For the purpose of paving (including side-
walks) the following highways : 73rd Street
from Collins Avenue to Dickens Avenue; 76th
Street from Collins Avenue to Dickens Avenue;
78th Street from Collins Avenue to Dickens
Avenue; 79th Street from Collins Avenue to
Dickens Avenue; 81st Street from Collins Avenue
to Byron Avenue; 82nd Street from Collins
Avenue to Harding Avenue; 82nd Street from
Abbott Avenue to Byron Avenue; 82nd Terrace
from Abbott Avenue to Byron Avenue; 83rd
Street from Collins Avenue to Abbott Avenue;
84th Street from Collins Avenue to Byron
Avenue; 87th Street from Collins Avenue to
Harding Avenue; 87th Terrace from Collins
Avenue to Harding Avenue; Abbott Avenue
from 75th Street to 83rd Street; 84th Street
from Hawthorne Avenue to Crespi Boulevard $ 345,000.00
SERIES 7: For the purpose of paving Stillwater Drive
and North Stillwater Drive from Hawthorne
Avenue to their westerly ends and for the
purpose of constructing sidewalks on the
north side of North Stillwater Drive and
Stillwater Drive from the east line of Lot
62, Block 15, to the south line of Lot 1,
Block 15, and the south side of Stillwater
Drive from the south line of Lot 1, Block 16,
to the north line of Lot 58, Block 16, all
in Biscayne Beach Second Addition $ 77,000.00
SERIES 8: For the purpose of paving the following
highways : Crespi Boulevard from Hawthorne
Avenue to 86th Street; 80th Street from
Hawthorne Avenue to Crespi Boulevard; 81st
Street from Hawthorne Avenue to Crespi
Boulevard; 82nd Street from Hawthorne
Avenue to Crespi Boulevard; 83rd Street
from Hawthorne Avenue to Crespi Boulevard;
86th Street from Hawthorne Avenue to
Crespi Boulevard $ 185,000.00
SERIES 9 : For the purpose of constructing a new water
supply main from Miami to Miami Beach,
including pumping stations, and the re-
location of a portion of the MacArthur
Causeway supply main and extensions to
the water distribution system $2,060,000.00
SERIES 10: For the purpose of constructing a public
park on the ocean front extending from
Collins Avenue to the Atlantic Ocean
and located between 75th and 87th Streets $ 525,000.00
- 5 -
SERIES 11 : For the purpose of constructing a Community
Center and Teen-Age Activities Building in
that part of the City lying north of
63rd Street $165,000.00
SERIES 12: For the purpose of constructing a
bridge across Collins Canal and Dade
Boulevard at Michigan Avenue $400,000.00
SERIES 13: For the purpose of constructing a
garden center $150,000.00
Series 1 shall be in the principal amount of $75,000.00;
shall be known as "1959 Storm Sewer Bonds" and shall be
numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$ 1,000.00 1960 1
1,000.00 1961 2
1,000.00 1962 3
1,000.00 1963
1,000.00 1964 55
1,000.00 1965
1,000.00 1966 77
1,000.00 1967
1,000.00 1968 9
1,000.00 1969 10
1,000.00 1970 11
1,000.00 1971 12
5,000.00 1972 13 - 17
5,000.00 1973 18 - 22
5,000.00 1974 23 - 27
5,000.00 1975 28 - 32
5,000.00 1976 33 - 37
10,000.00 1977 38 - 47
10,000.00 1978 48 - 57
18,000.00 1979 58 - 75
Series 2 shall be in the principal amount of
$160,000.00; shall be known as "1959 Sanitary Sewer Bonds",
and shall be numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
I
$ 4,000.00 1960 1 - 4
4,000.00 1961 5 - 8
4,000.00 1962 9 - 12
4,000.00 1963 13 - 16
4,000.00 1964 17 - 20
4,000.00 1965 21 - 24
4,000.00 1966 25 - 28
4,000.00 1967 29 - 32
4,000.00 1968 33 - 36
4,000.00 1969 37 - 40
4,000.00 1970 41 - 44
4,000.00 1971 45 - 48
10,000.00 1972 49 - 58
10,000.00 1973 59 - 68
10,000.00 1974 69 - 78
10,000.00 1975 79 - 88
10,000.00 1976 89 - 98
10,000.00 197 99 - 108
20,000.00 1978 109 - 128
32,000.00 1979 129 - 160
- 6 -
Series 3 shall be in the principal amount of $100,000.00;
shall be known as "Fire Station Extension Bonds", and shall
be numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$ 2,000 00 1960 1 - 2
2,000.00 1961 3 - 4
2,000.00 1962 5 - 6
2,000.00 1963 7 - 8
2,000.00 1964 9 - 10
2,000.00 1965 11 - 12
2,000.00 1966 13 - 14
2,000.00 1967 15 - 16
2,000.00 1968 17 - 18
2,000.00 1969 19 - 20
2,000.00 1970 21 - 22
2,000.00 1971 23 - 24
5,000.00 1972 25 - 29
5,000.00 1973 30 - 34
5,000.00 1974 35 - 39
5,000.00 1975 40 - 44
10,000.00 1976 45 - 54
10,000.00 1977 55 - 64
15,000.00 1978 65 - 79
21,000.00 1979 80 - 100
Series 4 shall be in the principal amount of $600,000.00;
shall be known as "Public LibraryBonds" and shall be numbered
and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$10,000.00 1960 1 - 10
10,000.00 1961 11 - 20
10,000.00 1962 21 - 30
10,000.00 1963 31 - 40
10,000.00 1964 41 - 50
10,000.00 1965 51 - 60
10,000.00 1966 61 - 70
io,o 00.00 1967 71 - 80
10,000.00 1968 81 - 90
10,000.00 1969 91 - 100
10,000.00 1970 101 - 110
15,000.00 1971 111 - 125
50,000.00 1972 126 - 175
50,000.00 1973 176 - 225
50,000.00 1974 226 - 275
50,000.00 1975 276 - 325
50,000.00 1976 326 - 375
50,000.00 1977 376 - 425
50,000.00 1978 426 - 475
125,000.00 1979 476 - 600
- 7 -
Series 5 shall be in the principal amount of
$1, 100,000.00; shall be known as "Alton Road Bridge and
Paving Bonds" and shall be numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$20,000.00 1960 1 - 20
20,000.00 1961 21 - 40
20,000.00 1962 41 - 6o
20,000.00 1963 61 - 80
20,000.00 1964 81 - 100
20,000.00 1965 101 - 120
20,000.00 1966 121 - 140
20,000.00 1967 141 - 160
20,000.00 1968 161 - 180
20,000.00 1969 181 - 200
20,000.00 1970 201 - 220
20,000.00 1971 221 - 240
100,000.00 1972 241 - 340
100,000.00 1973 341 - 44o
100,000.00 1974 441 - 54o
100,000.00 1975 541 - 64o
100,000.00 1976 641 - 74o
100,000.00 197 741 - 840
130,000.00 1978 841 - 97o
130,000.00 1979 971 - 1100
Series 6 shall be in the principal amount of $345,000.00;
shall be known as "1959 North End Paving and Sidewalk Bonds"
and shall be numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$20,000.00 1960 1 - 20
20,000.00 1961 21 - 40
20,000.00 1962 41 - 6o
20,000.00 1963 61 - 8o
20,000.00 1964 81 - 100
20,000.00 1965 101 - 120
20,000.00 1966 121 - 140
20,000.00 1967 141 - 160
20,000.00 1968 161 - 180
20,000.00 1969 181 - 200
20,000.00 1970 201 - 220
20,000.00 1971. 221 - 240
35,000.00 1972 241 - 275
35,000.00 1973 276 - 310
10,000.00 1974 311 - 32o
5,000.00 1975 321 - 325
5,000.00 1976 326 - 33o
5,000.00 1977 331 335
5,000.00 1978 336 - 340
5,000.00 1979 341 - 345
,.. - 8 -
Series 7 shall be in the principal amount of $77,000.00;
shall be known as "Stillwater Drive Paving Bonds" and shall
be numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1. NUMBERED
$ 5,000.00 1960 1 - 5
5,000.00 1961 6 - to
5,000.00 1962 11
5,000.00 1963 16 - 20
5,000.00 1964 21 - 25
5,000.00 1965 26 - 30
5,000.00 1966 31 - 35
5,000.00 1967 36 - 4o
5,000.00 1968 4641 - 45
5,000.00 1969
5,000.00 1L970 51 - 55
5,000.00 1971 56 - 63
3,000.00 1972
2,000.00 1973 64 - 65
2,000.00 1974 66 - 67
2,000.00 1975 68 - 69
2,000.00 1976 70 - 71
2,000.00 1977 72 - 73
2,000.00 1978 74 - 75
2,000.00 1979 76 - 77
Series 8 shall be in the principal amount of $185,000.00;
shall be known as "Crespi Boulevard Paving Bonds" and shall be
numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$10,000.00 1960 1 - 1.0
10,000.00 1961 11 - 20
10,000.00 1962 21 - 30
10,000.00 1963 31 - 40
10,000.00 1964 41 - 50
10,000.00 1965 51 - 6o
10,000.00 1966 61 - 7o
10,000.00 1967 71 - 8o
10,000.00 1968 81 - 90
10,000.00 1969 91 - loo
10,000.00 1970 101 - 110
10,000.00 1971 ill - 120
10,000.00 1972 121. - 130
10,000.00 1973 131 - 140
10,000.00 1974 141 - 150
10,000.00 1975 151 - 160
10,000.00 1976 161 - 170
5,000.00 1977 171 - 175
5,000.00 1978 176 - 18o
5,000.00 1979 181 - 185
I
- 9 -
Series 9 shall be in the principal amount of
$2,060,000.00; shall be known as "Water Supply Bonds"
and shall be numbered and
mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$15,000.00 1960 1 - 15
15,000.00 1961 16 - 30
15,000.00 1962 31 - 45
15,000.00 1963
15,000.00 1964 61 - 75 .
15,000.00 1965 76 - go
15,000.00 1966 91 - 105
15,000.00 1967 106 - 120
10,000.00 1968 121 - 130
20,000.00 1969 131 - 150
5,000.00 1970 151 - 155
25,000.00 1971 156 - 180
200,000.00 1972 181 - 38o
200,000.00 1973 381 - 580
200,000.00 1974 581 - 78o
200,000.00 1975 781 - 980
200,000.00 1976 981 - 1180
200,000.00 1977 1181 - 1380
300,000.00 1978 1381 - 1680
380,000.00 1979 1681 - 2060
Series 10 shall be in the principal amount of $525,000.00;
shall be known as "North End Ocean Front Park Bonds"
and shall be numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$ 5,000.00 1960 1 - 5
5,000.00 1961 6 - 10
5,000.00 X962 11
- 20
5,000.00 1963 16
5,000.00 1964 21
- 30
5,000.00 1965 26
5,000.00 1966 31 - 35
5,000.00 1967 36 - 40
5,000.00 1968 41 - 45
5,000.00 1969 46 - 5o
5,000.00 1970 51 - 55
15,000.00 1971 56 - 70
45,000.00 1972 71 - 115
45,000.00 1973 116 - 160
60,000.00 1974 161 - 220
45,000.00 1975 221 - 265
45,000.00 1976 266 - 310
50,000.00 1977 311 - 360
80,000.00 1978 361 - 44o
85,000.00 1979 441 - 525
- 10 -
1
Series 11 shall be in the principal amount of $165,000.00;
shall be known as "Community Center and Teen-Age Activities
Building" and shall be numbered and
mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$ 1,000.00 1960 1
1,000.00 1961 2
1,000.00 1962 3
1,000.00 1963 4
1,000.00 1964 55
1,000.00 1965
1,000.00 1966 77
1,000.00 1967
1,000.00 1968 9
1,000.00 1969 10
1,000.00 1970 11
1,000.00 1971 12
5,000.00 1972 13 - 17
5,000.00 1973 18 - 22
15,000.00 197+ 23 - 37
10,000.00 1975 38 - 47
10,000.00 1976 48 - 57
35,000.00 1977 58 - 92
35,000.00 1978 93 - 127
1 38,000.00 1979 128 - 165
Series 12 shall be in the principal amount of $400,000.00;
shall be known as "Michigan Avenue Bridge Bonds"
and shall be numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$ 3,000.00 1960 1 - 3
3,000.00 1961 4+ - 6
3,000.00 1962 7 - 9
3,000.00 1963 10 - 12
3,000.00 196 + 13 - 15
3,000.00 1965 16 - 18
3,000.00 1966 19 - 21
3,000.00 1967 22 - 24
3,000.00 1968 25 - 27
3,000.00 1969 28 - 30
2,000.00 1970 31 - 32
2,000.00 1971 33 - 34
22,000.00 1972 35 - 56
23,000.00 1973 57 - 79
23,000.00 1974 80 - 102
23,000.00 1975 103 - 125
68,000.00 1976 126 - 193
69,000.00 1977 194 - 262
69,000.00 1978 263 - 331
69,000.00 1979 332 - 400
- 11 -
Series 13 shall be in the principal amount of $150,000.00;
shall be known as "Garden Center Bonds"
and shall be numbered and mature as follows :
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$ 4,000.00 1960 1 - 4
4,000.00 1961 5 - 8
4,000.00 1962 9 - 12
4,000.00 1963 13 - 16
4,000.00 1964 17 - 20
4,000.00 1965 21 - 24
4,000.00 1966 25 - 28
4,000.00 1967 29 - 32
4,000.00 1968 33 - 36
4,000.00 1969 37 - 40
5,000.00 1970 41 - 45
5,000.00 1971 46 - 50
10,000.00 1972 51 - 60
10,000.00 1973 61 - 70
10,000.00 1974 71 - 80
10,000.00 1975 81 - 90
10,000.00 1976 91 - 100
10,000.00 1977 101 - 110
20,000.00 1978 111 - 130
20,000.00 1979 131 - 150
SECTION 3. That all of the bonds herein authorized and
referred to in Section 2 of this Resolution,
except the bonds referred to in said Section 2 as Series 6,
"1959 North End Paving and Sidewalk Bonds", Series 7 "Stillwater
Drive Paving Bonds" and Series 8 "Crespi Boulevard Paving Bonds"
shall be in the denomination of $1,000.00 each and shall be
designated "Public Improvement Bonds", followed by a brief
description of the purpose as hereinbefore provided and shall
be alike in form, except as to statement of series, purpose and
the dates of maturities and numbers, and the form of said
bonds, coupons and registration endorsement, as well as the
manner of execution of said bonds and coupons and certificates
of validation shall be substantially as follows :
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No. UNITED STATES OF AMERICA $1,000.00
STATE OF FLORIDA, COUNTY OF DADE
CITY OF MIAMI BEACH
PUBLIC IMPROVEMENT BOND
(Here insert series No. and statement of purpose)
KNOW ALL MEN BY THESE PRESENTS that the City of Miami
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 registered to the registered owner hereof,
on the 1st day of September, 19 , the principal sum of
ONE THOUSAND DOLLARS
with interest thereon at the rate of percent per annum,
payable semi-annually, on the first day of March and the
first day of September in each year, upon the presentation and
surrender of the annexed interest coupons as they severally
become due. Both the principal and interest of this bond
are payable in lawful money of the United States of America,
at the office of Chemical Corn Exchange Bank in the City of
New York. For the prompt payment ha'sof, both principal and
interest, as the same shall become due, the full faith, credit
and resources of said City of Miami Beach are hereby
irrevocably pledged.
This bond is one of a series of like tenor, date and
amount, but maturing at different times, issued by said City
for the purpose of paying the cost of certain public improve-
ments in the City of Miami Beach, Florida,as stated in the
caption hereof and more particularly described in Resolution
No. 10084 of the City Council of said City, passed and adopted
April 8, 1959, as amended by Resolution No. 10104, passed and
adopted April 24, 1959, under the authority of and in full
compliance with the Constitution and Statutes of the State of
Florida, including Chapter 100, Florida Statutes, and the
City Charter, being Chapter 7672 of the Laws of Florida of
1917, 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 were qualified electors residing in said City participated,
which said election was called and held and the result declared
and recorded in the manner prescribed by 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 Constitution of the State of Florida, have happened, 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, including this bond, does
not exceed any constitutional or statutory limitation thereof.
This bond may be registered as to principal in accordance
with the provisions endorsed hereon.
- 13 -
IN WITNESS WHEREOF, the said City of Miami Beach, Florida,
has caused this bond to be signed under its seal by its Mayor
and has caused the facsimile of the signature of the City Clerk
• to appear thereon and the interest coupons attached hereto
to be signed with the facsimile of the signature of said Clerk,
all as of the first day of September, 1959.
Mayor
City Clerk
COUPON
No. $
On 1, 19 , the City of Miami Beach, Florida,
will pay to the bearer at Chemical Corn Exchange Bank, 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 Public Improvement Bond, Series
dated September 1, 1959, and numbered
City Clerk
ENDORSEMENT CONCERNING VALIDATION
This bond is one of a series of bonds which were
validated and confirmed by decree of the Circuit Court of
the Eleventh Judicial Circuit of the State of Florida in and for
Dade County, rendered on 19 .
ENDORSEMENT CONCERNING REGISTRATION
This bond may be registered as to principal in the bond
registry of said City, notation of such registration to be made
hereon by the City Clerk, or by such other officer or agent as
may be designated Registrar by resolution of the governing body
of said City and may thereafter be transferred on such register
by the registered owner in person, or by attorney, upon the
presentation to the Bond Registrar, accompanied by delivery of
a written instrument of transfer 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
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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 the bonds referred
to in Section 2 of this resolution, except the
bonds referred to in said Section 2 as Series 6, "1959 North
End Paving and Sidewalk Bonds", Series 7 "Stillwater Drive
Paving Bonds" and Series 8 "Crespi Boulevard Paving Bonds",
shall be outstanding there 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 are collected and shall be used for no other purpose
than the payment of said principal and interest.
SECTION:,5. That all of the bonds herein authorized and referred
to in Section 2 of the Resolution as Series 6 "1959
North End Paving and Sidewalk Bonds", Series 7 "Stillwater
Drive Paving Bonds" and Series 8 "Crespi Boulevard Paving
Bonds", shall be in the denomination of One Thousand Dollars
($1,000.00) each and shall be designated "Improvement Bonds"
followed by a brief description of the purpose as hereinbefore
provided, and shall be alike in form except as to statement of
series, purpose and the dates of maturities and numbers, and
the form of said bonds, coupons and registration endorsement,
as well as the manner of the execution of said bonds and
coupons and certificate of validation shall be substantially
as follows :
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No. UNITED STATES OF AMERICA $1,000.00
STATE OF FLORIDA, COUNTY OF DADE
CITY OF MIAMI BEACH
IMPROVEMENT BOND
(Here insert series No. and statement of purpose)
KNOW ALL MEN BY THESE PRESENTS that the City of Miami 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 registered to the registered owner hereof, on the 1st day of
September, 19 , the principal sum of
ONE THOUSAND DOLLARS
with interest thereon at the rate of percent per annum,
payable semi-annually, on the first day of March and the first
day of September in each year, upon the presentation and surrender
of the annexed interest coupons as they severally become due. Both
the principal and interest of this bond are payable in lawful money
of the United States of America, at the office of Chemical Corn
Exchange Bank in the City of New York. For the prompt payment hereof,
both principal and interest, as the same shall become due, the full
faith, credit and resources of said City of Miami Beach are hereby
irrevocably pledged.
This bond is one of a series of like tenor, date and amount,
but maturing at different times, issued by said City for the purpose
of paying the cost of certain public improvements in the City of
Miami Beach, Florida, as stated in the caption hereof and more
particularly described in Resolution No. 10084 of the City Council
of said City, passed and adopted April 8, 1959, as amended by
Resolution No. 10104, passed and adopted April 24, 1959, under the
authority of and in full compliance with the Constitution and
statutes of the State of Florida, including Chapter 100, Florida
Statutes, and the City Charter, being Chapter 7672 of the Laws of
Florida of 1917, 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 prescribed by 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
Constitution of the State of Florida, have happened, 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, which,
together with collections from special improvement assessments made against
abutting property, will be sufficient to pay the interest and principal
of this bond as the same shall become due and that the total indebtedness
of said City, including this bond, does not exceed any constitutional
or statutory limitation thereof. This bond may be registered as to
principal in accordance with the provisions endorsed hereon.
IN WITNESS WHEREOF, the said City of Miami Beach, Florida, has
caused this bond to be signed under its seal by its Mayor and has
caused the facsimile of the signature of the City Clerk to appear
thereon and the interest coupons attached hereto to be signed with the
facsimile of the signature of said Clerk, all as of the first day of
September, 1959.
Mayor
-142
eze ez,
City Clerk
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COUPON
No.
On 1, 19 , the City of Miami Beach, Florida,
will pay to the bearer at Chemical Corn Exchange Bank, 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 Improvement Bond, Series , dated
September 1, 1959.
City Clerk
ENDORSEMENT CONCERNING VALIDATION
This bond is one of a series of bonds which were validated
and confirmed by decree of the Circuit Court of the Eleventh
Judicial Circuit of the State of Florida in and for Dade County,
rendered on 19 .
ENDORSEMENT CONCERNING REGISTRATION
This bond may be registered as to principal in the bond
registry of said City, notation of such registration to be made
hereon by the City Clerk, or by such other officer or agent as may
be designated Registrar by resolution of the governing body of said
City and may thereafter be transferred on such register by the
registered owner in person, or by attorney, upon the presentation to
the Bond Registrar, accompanied by delivery of a written instrument
of transfer, 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 6. That in each year,while any of said bonds referred to
in Section 2 of this Resolution as Series 6 "1959
North End Paving and Sidewalk Bonds", Series 7 "Stillwater Drive
Paving Bonds" and Series 8 "Crespi Boulevard Paving Bonds", shall
be outstanding there shall be levied on all of the taxable
property within said City a direct annual tax which, together with
collections theretofore made from special improvement assessments
made against abutting property, shall be sufficient to pay the
principal and interest falling due in the following year upon
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said bonds, which tax shall be collected as other City taxes
are collected and shall be used for no other purpose than the
payment of said principal and interest.
SECTION 7. That the City Attorney is hereby authorized and
directed to proceed in the name of said City to have
said bonds validated by the Circuit Court of Dade County.
SECTION 8. That the Mayor and the City Clerk are hereby authorized
and directed to execute said bonds under the seal of
said City, a facsimile of which shall be imprinted upon each of
said bonds, and each of said bonds shall be manually signed by
the Mayor and shall be executed with the facsimile signature
of the City Clerk , and that the Mayor, the City Clerk and the
City Attorney are hereby authorized and directed to take such
steps as may be necessary to effect an early sale and delivery
of said bonds.
SECTION 9. That this resolution shall be in force and effect
immediately upon its adoption.
PASSED and ADOPTED this 17th day of June, A. D. 1959.
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