Resolution 10495 it
RESOLUTION NO. 10 495
WHEREAS, in accordance with the provisions of Resolution #7127 and #9651
of the City Council of the City of Miami Beach, Florida, all the unretired
Parking Revenue Bonds, Series 1950 have been called for redemption and retire-
ment, and
WHEREAS, under the provisions of Section 4, Resolution #9651 , after the
retirement of all the 1950 Bonds, the City may require the Depository to invest
all or any part of the money in the Reserve Account in the Bond Fund and in the
Renewal and Replacement Fund and all money held as Surplus in direct obligations
of the United States of America,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Miami
Beach, Florida, that the Miami Beach First National Bank as the Depository of
said Funds be, and it is hereby requested and directed to invest the said funds
in accordance with the Schedule submitted herewith -
From Surplus Revenues Fund -
A sum sufficient to fully utilize as near may be, the amount of $76, 194.43
to be invested in U. S. Treasury Bills to mature either on June 22nd, June
23rd, or June 29th, 1961 .
A sum sufficient to fully utilize as near may be, the amount of $460,572.69
to be invested in U. S. Treasury Bills to mature either on October 16th,
1961 , or at any later date prior to December 1st, 1961 .
From Bond and Interest Redemption Fund - Reserve Account -
A sum sufficient to fully utilize as near may be, the amount of $210,000.00
to be invested in U. S . Treasury Bonds, 3-7/8% due 5-15-68, or U. S. Treas-
ury Bonds, 2-1/2% due 12-15-68 whichever will produce the greatest yield.
A sum sufficient to fully utilize as near may be, the amount of $5,000 .00
each month beginning 1-1-61 and ending 12-1-62, to be invested in U. S .
Treasury Bonds, 2-1/4% due 12-15-62, or U. S. Treasury Notes, 3-3/4% due
11-15-62 whichever will produce the greatest yield.
From Renewal and Replacement Fund -
A sum sufficient to fully utilize as near may be, the amount of $20,527.99
to be invested in U. S. Treasury Bills to mature either on October 16th,
1961 , or at any later date prior to December 1st, 1961 , 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 1st day ofRabruazy, A.D. 1961 .
, 11
Mayo r
ATTEST:
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