Resolution 11346 1
RESOLUTION NO. 11346
WHEREAS, in accordance with the provisions of Resolution No. 7127
and Resolution No. 9651 of the City Council of the City of Miami Beach, Florida,
all the unretired Parking Revenue Bonds, Series 1950 have been called for re-
demption and retirement, and
WHEREAS, under the provisions of Section 4, Resolution No. 9651 , after
the retirement of all the 1950 Bonds, the City may require the Depository to in-
vest 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
$409,796.63 to be invested in U. S. Treasury Bills, Notes, or Bonds,
whichever will produce the greatest yield, to mature not later than
December 15, 1965.
From Bond and Interest Redemption Fund - Reserve Account -
A sum sufficient to fully utilize as near may be, the amount of $5,000.00
each month beginning February 1 , 1965, and ending December 1 , 1965, to
be invested in U. S. Treasury Bonds, Notes, or Bills maturing not later
than December 15, 1965, whichever will produce the greatest yield.
From Renewal and Replacement Fund -
A sum sufficient to fully utilize as near may be, the amount of
$23,148.02 to be invested in U. S. Treasury Bills, maturing November 30,
1965.
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 16th day of December, A.D. 1964.
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