Resolution 10290 fo
RESOLUTION NO. 10290
x
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MIAMI BEACH, FLORIDA, AUTHORIZING THE ISSUANCE OF
NEGOTIABLE COUPON BONDS IN THE SUM OF $600 ,000 .00
FOR THE PURPOSE OF CONSTRUCTING A PROMENADE, MALL
OR WALK ON LINCOLN ROAD FROM WASHINGTON AVENUE TO
ALTON ROAD, AUTHORIZED AT AN ELECTION HELD ON
NOVEMBER 3 , 1959 .
WHEREAS, the City Council of the City of Miami Beach,
Florida, on the 16th day of September, 1959, adopted Resolution
No. 10185 , authorizing the issuance of negotiable coupon bonds
in the sum of $600,000 .00 for the purpose of constructing a
promenade, mall or walk on Lincoln Road from Washington Avenue
to Alton Road 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 resolution directed
to be held on November 3 , 1959; and
WHEREAS, the said City Council on November 4, 1959, canvassed
the returns of the aforesaid election and found that the issuance
of said bonds in the aggregate amount of $600 ,000 .00 had been
approved, by a majority of the votes cast in said election, in which
a majority of the freeholders who were quaified electors residing
in said City participategl, and declared and recorded, in the manner
prescribed by law, the result of said election and canvass.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA:
SECTION 1 . That pursuant to said election Six Hundred Thousand
($600,000 .00) Dollars of negotiable coupon bonds of the
City of Miami Beach, Florida, be issued bearing date March 1, 1960 ,
and bearing interest at a rate to be hereafter determined, not
exceedinc- 5 % per annum, payable semi-annually, on the first
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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 Bank New York Trust Company,
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 a single series; shall be in
the principal amount of $600,000 .00 ; shall be known as "Lincoln Road
Mall Bonds" and shall be numbered and mature as follows:
AMOUNT MATURING MARCH 1 NUMBERED
$30,000 .00 1961 1 - 30
30,000 .00 1962 31 - 60
30 , 000 .00 1963 61 - 90
30,000 .00 1964 91 - 120
30 ,000 .00 1965 121 - 150
30,000 .00 1966 151 - 180
30,000 .00 1967 181 - 210
30,000 .00 1968 211 - 240
30 ,000 .00 1969 241 - 270
30,000 .00 1970 271 - 300
30,000 .00 1971 301 - 330
30,000 .00 1972 331 - 360
30,000 .00 1973 361 - 390
30,000 .00 1974 391 - 420
30 ,000 .00 1975 421 - 450
30 ,000 .00 1976 451 - 480
30,000 .00 1977 481 - 510
30,000 .00 1978 511 - 540
30 ,000 .00 1979 541 - 570
30,000 .00 1980 571 - 600
SECTION 3 . That all of the bonds herein authorized 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 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 certificate of validation shall be
substantially as follows:
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UNITED STATES OF AMERICA $1,000 .00
STATE OF FLORIDA, COUNTY OF DADE
CITY OF MIAMI BEACH
PUBLIC IMPROVEMENT BOND
(Here insert 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 March,
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 Bank New York Trust
Company. For the prompt payment hereof, bo th 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 improvement in the City of Miami
Beach, Florida, as stated in the caption hereof and more particularly
described in Resolution No. 10185 of the City Council of said City,
passed and adopted September 16, 1959, under the authority of and
in full compliance with the Constitution and Statutes of the State
of Florida, including Chapter 100 , F]_orida Statutes, and the City
Charter, being Chapter 7672 of the Laws of Florida, Acts 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 coll-
ection 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 by its Mayor, under its seal, and
has caused the facsimile of the signature of the City Clerk to
appear thereon and the interest coupons attached hereto to be
- 3 -
signed with the facsimile of the signature of said Clerk, all as of the
1st day of March, 1960 .
Mayor
City Clerk
COUPON
No. $
On 1, 19 , the City of Miami Beach, Florida,
will pay to the bearer at Chemical Bank New York Trust Company
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, dated
March 1, 1960, and numbered
City Clerk
ENDORSEMENT CONCERNING VALIDATION
Validated and confirmed by decree of the Circuit Court
for the Eleventh Judicial Circuit of the State of Florida, in and
for Dade County, on 1960 .
(Facsimile signature of City Clerk)
City Clerk
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
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SECTION 4. That in each year, while any of said 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 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 the Attorney for the City of Miami Beach 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, Florida.
SECTION 6. 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 Attorney for the City
of Miami Beach are hereby authorized and directed to take such steps
as may be necessary to effect an early sale and delivery of said
bonds .
SECTION 7 . That this resolutiDN shall be in force and effect
immediately upon its adoption.
PASSED and ADOPTED this 17th day of February, A. D. 1960 .
/
�---Mayor
ATTES
a_
Ci Clerk
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7
RESOLUTION NO. 10 3p.2
WHEREAS, on the 17th day of February, 1960, by Resolution
No. 10290, the City Clerk and the Attorney for the City of Miami
Beach, Florida, were authorized and directed to take such steps
as may be necessary to effect an early sale and delivery of
$600,000.00 of Lincoln Road Mall Bonds which have since been
validated by the decree of the Circuit Court of Dade County,
Florida; and
WHEREAS, the City Council deems it to be to the best interest
of the City to sell, at this time, only 4525,000.00 of said
bonds;
NOW, THEREFOAE, BE IT RESOLVED by the City Council of the
City of Miami Beach, Florida, that bids be called for at this time
on those of said bonds so validated which shall be in the aggregate
principal amount of . 525,000.00, and which shall mature as follows :
$30000.00 on Metrch 1st of each of the years 1961, 1962, 1963,
1964 and 1965, and $25,000.00 on March 1st of each of the years
1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1974, 1975, 1976,
1977, 1978,. 1979 and 1980.
PASSED and ADOPTED this 6th day of July, A. D. 1960.
(Signed) D. Lee Powell _
:isyor
ATTEST:
(Signed) R. Wm. L. Johnson
(SEAL)
RESOLUTION NO. 10290
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MIAMI BEACH, FLORIDA, AUTHORIZING THE ISSUANCE OF
NEGOTIABLE COUPON BONDS IN THE SUM OF $600,000.00
FOR THE PURPOSE OF CONSTRUCTING A PROMENADE, MALL
OR WALK ON LINCOLN ROAD FROM WASHINGTON AVENUE 'Ili
ALTON ROAD, AUTHORIZED AT AN ELECTION HELD ON
NOVEMBER 3, 1959.
WHEREAS, the City Council of the City of Miami Beach, Florida,
on the 16th day of September, 1959, adopted Resolution No. 10185,
authorizing the issuance of negotiable coupon bonds in the sum of
$600,000.00 for the purpose of constructing a promenade, mall or
walk on Lincoln Road from Washington Avenue to Alton Road 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 resolution directed to be held on
November 3, 1959; and
WHEREAS, the said City Council on November 4, 1959, canvassed
the returns of the aforesaid election and found that the issuance
of said bonds in the aggregate amount of $600,000.00 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 declared and recorded, in
the manner prescribed by law, the result of said election and
canvass.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF MIAMI BEACH, FLORIDA:
SECTION 1. That pursuant to said election Six Hundred Thousand
($600,000.00) Dollars of negotiable coupon bonds of
the City of Miami Beach, Florida, be issued bearing date March 1,
1960, and bearing interest at a rate to be hereafter determined,
not exceeding 5% 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 Bank New York Trust Company,
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 a single series; shall
be in the principal amount of $600,000.00; shall be
known as "Lincoln Road Mall Bonds" and shall be numbered and
mature as follows:
AMOUNT MATURING MARCH 1 NUMBERED
$30,000.00 1961 1 - 30
30, 000.00 1962 31 - 60
30, 000.00 1963 61 - 90
30,000.00 1964 91 - 120
30,000.00 1965 121 - 150
30,000 .00 - 25,000.00 1966 151 - 184 151 - 175
107-00-0,00-25,000.00 1967 181 - 210 181 - 205
30,- 00.00 - 25,000.00 1968 a1l---2 211 - 235
307-000,40 --25,000.00 1969 241---270 241 - 265
30,-000-00- 25,000.00 1970 2.7----300 271 - 295
30,400,040 - 25,000.00 1971 301 - 330 301 - 325
36;eee ee -25,000.00 1972 341----3-60 331 - 355
30,-000,.80--25,000.00 1973 361 - 39Q 361 - 385
- 1
•
AMOUNT MATURING MARCH 1 NUMBERED
- 25,000.00 1974 31 - 420 - 391 - 415
30,-000-.00 - 25,000.00 1975 441=-450 - 421 - 445
P01.400-r014 -- 25,000.00 1976 4.5.1.----480 — 451 - 475
30-7400,00 —25,000.00 197 7 481----510 -- 481 - 505
_ 25,000.00 1978 511---540 -- 511 - 535
30,400„04 -25,000.00 1979 541 —570 -. 541 - 565
--25,000.00 1980 571 --600 - 571 - 595
SECTION 3 . That all of the bonds herein authorized shall be in
the denomination of $1,000.00 each and shall be desig-
nated "Public Improvement Bonds" , followed by a brief description
of the purpose as hereinbefore provided and shall be alike in form,
except as to 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 certificate of
validation shall be substantially as follows:
UNITED STATES OF AMERICA $1, 000.00
STATE OF FLORIDA, COUNTY OF DADE
CITY OF MIAMI BEACH
PUBLIC IMPROVEMENT BOND
(Here insert 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
March, 19 , the principal sum of
ONE THOUSAND DOLLARS
with interest thereon at the rate of percent per annum, pay-
able 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 law-
ful money of the United States of America at the office of Chemical
Bank New York Trust Company. 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 pur-
pose of paying the cost of a certain public improvement in the
City of Miami Beach, Florida, as stated in the caption hereof and
4 more particularly described in Resolution No. 10185 of the City
Council of said City, passed and adopted September 16, 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, Acts 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 free-
holders who are qualified electors residing in said City partici-
pated, which said election was called and held and the result de-
clared 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,
- 2 -
including this bond, does not exceed any constitutional or statu-
tory limitation thereof. This bond may be registered as to prin-
cipal in accordance with the provisions endorsed hereon.
IN WITNESS WHEREOF, the said City of Miami Beach, Florida,
has caused this bond to be signed by its Mayor, under its seal,
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 1st day of March, 1960.
Mayor
City Clerk
COUPON
No. $
On 1, 19 , the City of Miami Beach, Florida, will
pay to the bearer at Chemical Bank New York Trust Company 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, dated March 1, 1960, and
numbered
City Clerk
ENDORSEMENT CONCERNING VALIDATION
Validated and confirmed by decree of the Circuit Court for
the Eleventh Judicial Circuit of the State of Florida, in and
for Dade County, on 1960.
(Facsimile signature of City Clerk)
City Clerk
ENDORSEMENT CONCERNING REGISTRATION
This bond may be registered as to principal in the bond regis-
try 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 in-
strument 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 4. That in each year, while any of said bonds shall be
outstanding, there shall be levied on all of the tax-
able property within said City a direct annual tax which, together
- 3 -
with collections theretofore made from special improvement assess-
ments made against abutting property, shall be 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 the Attorney for the City of Miami Beach is here-
by authorized and directed to proceed in the name of
said City to have said bonds validated by the Circuit Court of
Dade County, Florida.
SECTION 6. 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 Attorney
for the City of Miami Beach are hereby authorized and directed to
take such steps as may be necessary to effect an early sale and
delivery of said bonds .
SECTION 7. That this resolution shall be in force and effect im-
mediately upon its adoption.
PASSED and ADOPTED this 17th day of February, A. D. 1960.
(Signed) D. Lee Powell
Mayor
ATTEST:
(Signed) R. Wm. L. Johnson
City Clerk
(SEAL)
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