Resolution 81-16538 RESOLUTION NO. 81-16538
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA DETERMINING
CERTAIN DETAILS OF $500 , 000 PUBLIC IMPROVE-
MENT BOND ANTICIPATION NOTES OF THE CITY OF
MIAMI BEACH, FLORIDA.
WHEREAS, the City of Miami Beach, a political sub-
division of the State of Florida (hereinafter referred to as
the "City") , did on this 27th day of January, 1981, adopt a
resolution (the "Resolution") , authorizing the issuance of
$500 , 000 Public Improvement Bond Anticipation Notes; and
WHEREAS, the Resolution provides that certain details
of the Notes shall be determined by the City by subsequent resolu-
tion;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA:
SECTION 1. That the City hereby determines to issue
at this time $500, 000 Public Improvement Bond Anticipation Notes of
said total authorized issue of $2, 500, 000.
SECTION 2 . That the Notes shall be dated on date of
delivery of each, shall bear interest payable in the manner described
in the notes, at the rate of 7 1/2% per annum, shall be payable at
Jefferson National Bank of Miami Beach, shall be numbered from one
upward, and shall be in the denomination of $5, 000 or any multiple
thereof.
SECTION 3 . That the Notes shall be subject to redemp-
tion prior to maturity in the manner set forth in the Notes.
SECTION 4 . That the City has received a proposal for
the sale of the Notes from Jefferson National Bank of Miami Beach
and associates and that said proposal has been found to be in the
best economic and financial interests of the County.
The Notes shall be sold to the Jefferson National Bank
of Miami Beach and associates at a purchase price of 100% of the
principal amount of the Notes plus accrued interest on the Notes
from their date, if any, to the date of delivery and payment there-
for.
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OFFICE OF THE CITY ATTORNEY •1700 CONVENTION CENTER DRIVE •MIAMI BEACH,FLORIDA 33139
SECTION 5. That this Resolution shall take effect
immediately upon its adoption in the manner provided by law.
PASSED and ADOPTED this 27 th day of January
1981.
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Mayor
ATTEST:
Cit Clerk
APPROVED
LEGAL DEPT.
By
()-412.—
Date 2/'i/
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OFFICE OF THE CITY ATTORNEY-1700 CONVENTION CENTER DRIVE -MIAMI BEACH,FLORIDA 33139
ORIGINAL
RESOLUTION NO. 81-16538
(Determining certain details of $500,000
Public Improvement Bond Anticipation Notes
of the CMB.)
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