Resolution 10635 7
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RESOLUTION NO. 10635
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 retirement, 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 $256,294.13
to be invested in 3-3/4% U. S. Treasury Notes, or 3-1/4% U. S. Treasury
Notes, to mature on November 15, 1962.
A sum sufficient to fully utilize as near may be, the amount of $22,653.93
to be invested in U. S. Treasury Bills, to mature on June 22, 1962.
From Renewal and Replacement Fund -
A sum sufficient to fully utilize as near may be, the amount of $27,089.44
to be invested in 3-3/4% U. S. Treasury Notes, or 3-1/4% U. S. Treasury
Notes, to mature on November 15, 1962.
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 18th day of October, A.D. 1961
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