Resolution 79-15829 As amended by Resolution No. 79-15851,
adopted 3/7/79, amending Sec. 2;
amending Sec. 5 and re-adopting said
Resolution No. 79-15829.
RESOLUTION NO. 79-15829
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, AUTHORIZING THE ISSUANCE
OF NEGOTIABLE COUPON BONDS IN THE SUM OF
$2, 500,000 FOR THE PURPOSE OF PAVING, SIDEWALKS,
CURB AND GUTTER, STORM SEWER, LIGHTING, LANDSCAPING,
CANOPY STRUCTURES, BUS SHELTERS, SIGNAGE, AND
STRUCTURES ON PUBLIC RIGHT-OF-WAY, AND ACQUISITION
OF LAND REQUIRED FOR PLAN FOR RECONSTRUCTION FROM
ARTHUR GODFREY ROAD FROM BISCAYNE BAY TO THE
ATLANTIC OCEAN; INDIAN CREEK DRIVE FROM 39TH
STREET TO 44TH STREET; AND COLLINS AVENUE FROM
44TH STREET TO 46TH STREET, AUTHORIZED AT AN
ELECTION HELD ON OCTOBER 5 , 1978 .
WHEREAS, the City Commission of the City of Miami Beach,
Florida, on the 2nd day of August, 1978, adopted Resolution
No. 78-15687, authorizing the issuance of negotiable coupon bonds
in the sum of $2, 500, 000 for the purpose of paving, sidewalks, curb
and gutter, storm sewer, lighting, landscaping, canopy structures,
bus shelters, signage, ornamental structures, and other structures
on public right-of-way, and acquisition of land required for the
plan for reconstruction of the following area: Arthur Godfrey Road
from Biscayne Bay to the Atlantic Ocean; Indian Creek Drive from
39th Street to 44th Street; and Collins Avenue from 44th Street to
46th Street, subject to the authorization of the duly registered
and qualified voters of said City therein participating in the
special election which said resolution directed to be held on
October 5, 1978; and
WHEREAS, the said City Commission on October 18 , 1978 ,
canvassed the returns of the aforesaid election and found that the
issuance of said bonds in the aggregate amount of $2, 500 , 000 had
been approved, by a majority of the votes cast in said election, in
which the 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 COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA:
SECTION 1 . That pursuant to said election, Two Million Five Hundred
Thousand Dollars ($2, 500, 000 . 00) of negotiable coupon
OFFICE OF THE CITY ATTORNEY -1700 CONVENTION CENTER DRIVE -MIAMI BEACH,FLORIDA 33139
bonds of the City of Miami Beach, Florida, be issued bearing date
, 197 , and bearing interest at a rate to be
hereafter determined, not exceeding 7-1/2% 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 prin-
cipal
rin cipal bonds, and both principal and interest shall be payable in
lawful money of the United States of America at Chemical Bank, in
New York City, which bonds shallbe registrable as to principal
in accordance with the endorsement which this resolution directs to
be printed on said bonds, and that the Chemical Bank, New York 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 $2,500, 000; shall be known
as "Public Improvement Bonds, Series 1979" and shall be numbered
and mature as follows:
AMOUNT MATURING SEPTEMBER 1 NUMBERED
$ 80,000 1983 1 -" 16
80,000 - 1984 17 - 32
90,000 1985 33 - 50
95,000 1986 51 - 69
100,000 1987 70 - 89
110,000 1988 90 - 111
120,000 1989 112 - 135 L.
130,000 1990 136 - 161
135,000 1991 162 - 188
150,000 1992 189 218
160,000 1993 219 - 250
175,000 1994 251 - 285.
' 185,000 1995 286 - 322
205,000 1996 323 - 363
215,000 1997 364 - 406
230,000 1998 407 - 452
240,000 1999 453 - 500
—SECTION 3. That all of the bonds herein authorized shall be in
the denomination of $5, 000. 00 each (or such lesser
denomination as may be established upon the sale thereof) , and if
all bonds are in the denomination of $5, 000. 00 they shall be
numbered 1 to 500, inclusive, and shall be designated "Public
Improvement Bonds" , followed by a brief description of the
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OFFICE OF THE CITY ATTORNEY-.1700 CONVENTION CENTER DRIVE-MIAMI BEACH,FLORIDA 33139
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:
$5, 000.00
UNITED STATES OF AMERICA
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
FIVE 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 o£-::the
United States of America at the office of Chemical Bank, New York
City. 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 purpose
of paying the cost of a certain public improvement in the City of
Miami Beach, Florida, as stated in the caption hereof and more
particularly described in Resolution No. 78-15687 of the City Commis-
sion of said City, passed and adopted August 2, 1978, 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 the 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 Con-
stitution 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, 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.
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OFFICE OF THE CITY ATTORNEY-1700 CONVENTION CENTER DRIVE-MIAMI BEACH,FLORIDA 33139
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, 197 .
Mayor
City Clerk
COUPON
No. $
On 1, 19 , the City of Miami Beach,
Florida, will pay to the bearer at Chemical Bank, New York City, 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,
197 , 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 197 .
(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 by 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 trans-
ferable by delivery.
Date of Registration Name of Registered Owner Registrar
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OFFICE OF THE CITY ATTORNEY-1700 CONVENTION CENTER DRIVE-MIAMI BEACH,FLORIDA 33139
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 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. The Finance Director of the City (who is an officer charged,
along with others, with the responsibility for the
issuance of such bonds) shall execute on the behalf of the City of
Miami Beach an arbitrage certificate for the purpose of assuring the
purchases of said bonds. That the bonds herein authorized are not
"arbitrage bonds" within the meaning of Section 103 (c) of the Internal
Revenue Code and Regulations proposed or promulgated thereunder.
Such certificates shall constitute a certificate and representation.
of the City of Miami Beach and no investment shall be made of the
proceeds of the bonds herein authorized nor of the money in the Bond
Fund in violation of the expectations expressed in said arbitrage
certificates.
SECTION 6. 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 7. That the Mayor and 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
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OFFICE OF THE CITY ATTORNEY-1700 CONVENTION CENTER DRIVE-MIAMI BEACH,FLORIDA 33139
ti ,
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 8 . That this Resolution shall be in force and effect
immediately upon its adoption.
PASSED and ADOPTED this 7th day of February , 1979 .
a
1144
Mayor
Attest:
City Clerk
(SEAL)
* Schedule inserted per Resolution No. 79-15851, adopted March 7, 1979.
** As amended by Resolution No. 79-15851, adopted March 7, 1979.
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OFFICE OF THE CITY ATTORNEY - 1700 CONVENTION CENTER DRIVE -MIAMI BEACH,FLORIDA 33139
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a ,
COMPOSITE
RESOLUTION NO. 79-15829
(Authorizing the issuance of negotiaLle
Coupon Bonds in the sum of $2,500,000 for
the purpose of paving, sidewalks, curb and
gutter, storm sewer, lighting, landscaping,
canopy structures, bus shelters, signage,
and structures on public right-of-way, and
acquisition of land required for reconstru-
ction from ARTHUR GODFREY RD. ,from Biscayne
Say to the Atlantic Ocean;Indian Creek Dr.
from 39th St. to 44th St. ; and Collins Ave.
from 44th to 46th Sts. ; authorized at an
Election held 10/5/78)
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