Resolution 10861 _
RESOLUTION NO. 10861
WHEREAS, in accordance with the provisions of Resolutions No. 7127
and No. 9651 of the City Council of the City of Miami Beach, Florida, all
of the unretired Parking Revenue Bonds, Series 1950 have been called for
redemption and retirement, and
WHEREAS, under the provisions of Section 4, Resolution No. 9651,
after the retirement of all of the 1950 Bonds, the City may require the
Depositary 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
Depositary 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 nearly as possible the
amount of $200,000.00 to be invested in 3 1/8% U.S. Certifi-
cates of Indebtedness, to mature on November 15, 1963.
From the Renewal and Replacement Fund:
A sum sufficient to fully utilize as nearly as possible the
amount of $30,000.00 to be invested in 3 1/87 U.S. Certifi-
cates of Indebtedness, to mature on November 15, 1963 .
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 21st day of November, A. D. 1962 .
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