HomeMy WebLinkAboutR-92-04504 401
J-92-508
6/19/92
RESOLUTION NO. '� 1 - 150
A RESOLUTION AUTHORIZING THE REPLACEMENT OF
CERTAIN CITY OF MIAMI, FLORIDA PUBLIC PARK
AND RECREATION FACILITY GENERAL OBLIGATION
BONDS, DUE DECEMBER 1, 1997, IN THE PRINCIPAL
AMOUNT OF TEN THOUSAND DOLLARS ($10,000.00)
WITH COUPON DATED DECEMBER 1, 1991 TO
SUBSTITUTE LOST BONDS AND COUPONS.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI)
FLORIDA:
SECTION 1. The Commission of the City of Miami, Florida
(the "City Commission") hereby finds and determines that:
(a) The City Commission has received and caused to be
examined an affidavit sworn and subscribed to before a notary
public on January 30th, 1992, by Jack Rittenberg that (i) Jack
Rittenberg is the lawful owner, or has a proprietary interest in
the Ten Thousand Dollars ($10,000.00) principal amount of City of
Miami, Florida Public Park and Recreation Facilitv General
Obligation Bonds, due December 1, 1997, bearing 5.60% interest,
Certificates Nos. 1783/1784 and coupons dated December 1, 1991;
(ii) the Original Bonds and coupons dated December 1, 1991 have
been lost, stolen or destroyed; (iii) said Jack Rittenberg has no
other knowledge or information as to the whereabouts of the
Original Bonds and coupons dated December 1, 1991; (iv) the
t
P iR
Original Bonds and coupons dated December 1, 1993. have not been
sold, assigned, endorsed, transferred or deposited under any
agreement, hypothecated, pawned or pledged, or in any other
manner disposed of by or on behalf of Jack Rittenberg; (v) the
affidavit is made for the purpose of inducing the City of Miami,
Florida (the "CITY"), to issue new or duplicate bonds and coupons
dated December 1, 1991 in lieu of the lost bonds and coupons
dated December 1, 1991, and to hold the City of Miami, Florida
and its successors and assigns harmless against any loss or
damage sustained by reason of the issue of such new or duplicate
bonds and coupons dated December 1, 1991, or the refusal to make
transfer of the original lost bonds and coupons dated December 1,
1991.
(b) The City Commission has received and caused to be
examined one counterpart of an Indemnity Bond, (hereinafter
called the "Indemnity Bond"), executed March 4th, 1992 by the
Seaboard Surety Company pursuant to which the Seaboard Surety
Company is firmly bound unto the City of Miami, its successors,
and any other parties vested with powers or duties respecting the
Original Bonds and coupons dated December 1, 1991, or the
Duplicate Bonds and coupons dated December 1, 1991, (herein and
in the Indemnity Bond called the "Obligees") in an aggregate
amount sufficient to indemnify the Obligees in connection with
the issuance of the Duplicate Bonds and coupons dated December 1,
1991, which shall remain in full force and effect until the
-2-
92-- 450
Original Bonds and coupons dated December 1, 1991 are returned
to the City and are cancelled.
Section 2. For the purpose of providing bonds in
substitution for the Original Bonds and coupons dated December 1,
1991 under the authority of the Charter of the City of Miami,
Chapter 10847, Special Laws of Florida, 1925, as amended, there -
shall be issued Duplicate Bonds and coupons dated December 1,
1991 of the City of. Miami, Florida, similar to the Original Bonds
and coupons dated December 1, 1991 to the fullest extent
feasible, in the principal amount of Ten Thousand Dollars
($10,000.00), consisting of Certificates Number 1783, and 1784
designated "City of Miami, Florida Public Park Recreation
Facility General Obligation Bonds," bearing interest at the rate
of 5.60% per annum, payable semiannually in each year and stated
to mature on December 1, 1997, and coupons dated December 1,
1991.
The Duplicate Bonds and coupons dated December 1, 1991
-] shall be deemed to vest in the holder the same rights,
- ? privileges, benefits and immunities and to be subject to the same
limitations, requirements and conditions, as the Original Bonds
and coupons dated December 1, 1991.
Section 3. The Chemical Bank, in the Borough of Manhattan,
City and State of New York, is authorized and directed herewith
to cause the Duplicate Bonds and coupons dated December 1, 1991
to be printed and delivered to the City Commission for execution,
;i
y2- 450 -
-3-
pursuant to the provisions of ordinance No. 9129, adopted July
10, 1980 and subsequent resolution(s) authorizing the issuance of
the original Bonds and coupons dated December 1, 1991, by the
manual signature of the City Clerk, the facsimile signature of
the Mayor, and the facsimile seal of the City.
Upon satisfying himself that said Affidavit and Indemnity
Bond are in proper form and have been duly executed and delivered
and that the Duplicate Bonds and coupons dated December 1, 1991
are in proper form and have been duly executed, the Director of
Finance shall cause the Duplicate Bonds and coupons dated
December 1, 1991 (with counterparts of the Indemnity Bond and the
Affidavit and a certified copy of this Resolution) to be
delivered to Chemical Bank, for their delivery to said Jack
Rittenberg.
Section 4. Upon delivery of the Duplicate Bonds and coupons
dated December 1, 1991 executed as herein provided, the Original
Bonds and coupons dated December 1, 1991 shall be null and void
and no longer an obligation of the City of Miami, Florida. If
the Original Bonds and coupons dated December 1, 1991 shall be
found or otherwise come into the custody or possession of the
City or any Paying Agent of the City, the City shall cause the
Original Bonds and coupons dated December 1, 1991 to be canceled,
shredded and destroyed, and shall cause a signed certificate to
such effect to be sent to the Director of Finance of the City,
Chemical Bank, and the Paying Agents of the City respecting such
issue of Bond.
-4-
92- 450
EM
Section 5. All costs and expenses incurred by the City in
connection with the issuance of the Duplicate Bonds and coupons
dated December 1, 1991 shall be charged and collected by the City
from the owner of the Original Bonds and coupons dated December
1, 1991.
Section 6. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 9th day of �, 1992.
XAVIE.SUAR , MAYOR
'1 ATTE
MATTY HIRAI, CITY CLERK
PREPARED AND APPROVED BY:
FAEL 0. DI
EPUTY CITY/ATTORNEY
APPROVED AS TO FORM AND
CORRECTNESS:
i
CITY ATTO Y
F CR;D�,
INTER -OFFICE MEMORANDUM
Honorable Mayor and Members
To of the City Commission DATE
SUBJECT:
J
FROM Cesar N. 0d1 REFERENCES
City Manager
ENCLOSURESi
PNO)40_011'
P CA-2-'l
j u i l Z 3 1992 FILE
Agenda Item - Replacement
of Lost Bonds
It is respectfully recommended that the attached Resolution
authorizing the replacement of certain City of Miami, Florida
Public Park and Recreation Facility General Obligation Bonds, due
December 1, 1997, in the principal amount of Ten Thousand Dollars
($10,000) with coupons dated December 1, 1991 to substitute lost
bonds and coupons, be approved.
The replacement of bonds lost by holders of City -issued bonds
requires City Commission authorization. Jack Rittenbers, holder
of $10,000.00 in City of Miami, Florida Public Park and
Recreation Facility General obligation Bonds, due December 1,
1997, and coupons dated December 1, 1991, lost them and has
posted the necessary Affidavit and Indemnity Bond to protect and
hold harmless the City in regards to the issuance of the
replacement bonds.
The Finance Department hereby recommends the adoption of the
attached resolution to replace the lost bonds and coupons dated
December 1, 1991.
7,4WCHEMICAL
Chemical Bank _
55 Water Street
New York, NY 10041 0199
2. 12/820-6620 -_
C.T.G. Bondholder Relations
Room 540
March 18, 1992
City of Miami, FL
3500 Pan American Drive
Miami, FL 33133
Attn: Peter Serrao
Re: Miami City FL
5.60% Public Park Recreation Facility Dtd 12/1/77 Due 12/1/97
Bearer Bonds 1783/84 Q $5,000.00 Each
Lost Coupon Due 12/1/91
Correspondence Control Number: 92-47
Dear Mr. Serrao:
We are enclosing for your files, a counterpart of a Sole Obligor Open Penalty Bond of
Indemnity and Affidavit of Loss submitted in connection with the loss of the above described
security.
Should the enclosures meet with your approval, kindly forward to us a letter authorizing us to
make payment of the missing coupons without presentation thereof.
The enclosed documents have been reviewed and meet with our approval.
Very truly yours,
Dennis O'Reilly
Lost Securities Analyst
DO/ca
r
Enclosure
92-- 450
' '
GCOSERI -
CKMIGAL.BANK —_
Securities and Trust Services
—` 55 Water Street -
=? ` New York, N.Y. 10041
INDEMNITY BOND
IMPORTANT INSTRUCTIONS
1. The Surety Company executing this Bond must be one of the
standard companies, authorized to write indemnity bonds in the State of
New York and acceptable to each of the Obligees.
2. This Bond must be acknowledged by both the Principal and the
Surety Company.
The Notary Public (or other officer) taking the acknowledgment must
affix his seal of office and state the date, if any, on which his commission
expires. In the event the acknowledgment of the Principal is taken before a
Notary Public (or other officer) not authorized to act within the State of
New York, a County Clerk's Certificate (or other competent authentication)
evidencing such official's authority must be attached to each counterpart of
the Bond.
3. The authority of the officer of officers executing this Bond on
behalf of the Surety Company must be shown by a copy of the by-laws,
resolutions or similar authorization, certified by the Secretary or an
Assistant Secretary of the Surety Company as being in effect on the date of
execution of this Bond and, in case the authorization is given to the holder
of a particular office, the certification must state that the person executing
this Bond was the holder of such office on said date. Certifications by
attorneys -in -fact or by "resident" officers of the Surety Company or by an
officer who executes this Bond are not acceptable.
If the Principal is a corporation, the authority of the officer or officers
executing this Bond on behalf of the Principal must be shown in like
manner.
4. In a case where the new instrument is to be issued in the name of, —
or payment in respect thereof is to be made to, someone other than the
registered holder of the lost, stolen or destroyed security, all the formalities
necessary to complete a transfer must be complied with, including the
furnishing of a detached instrument of assignment by the registered holder
- or. his legal representative with the signature thereto guaranteed in the
customary manner, transfer tax stamps (or funds in lieu thereof) and such
other papers as may be necessary under the circumstances.
s
_ S. An affidavit establishing ownership of the lost, stolen or destroyed
security and setting forth in detail the facts and circumstances of the loss,
theft or destruction should be attached to each counterpart of this Bond,
t' unless previously furnished. _
- , -
.03 2499 (746) 99 r 450
#1cal Bank, New work, Open Penalty Indemm.) rally Bor '
INDEMNITY BOND .
Xuatn all Men bar #iiene f reutdo, that,
JACK RITTENBERG
1780 N.E. 191 al t: #205 N Miami 13a,Rgh PL 33179
(Give complete address)
as Principal (hereinafter called the Principal), and
SEABOARD SURETY COMPANY
duly authorized to transact the business of —
indemnity and suretyship in the State of New York, and having an office and principal place of business in The City of
NewYorkat 199 Water Street, New York, N.Y. 10038 ,
as -Surety, (the Principal and said Surety being hereinafter collectively sometimes called the Obligors) are held and
firmly bound unto MIAMI CITY, FL
FLORIDA NATIONAL BANK
CHEMICAL BANK ,
and unto all such individuals, firms and corporations, as now or hereafter may be acting as Trustee, Depositary, Fiscal
or Paying Agent, Registrar, Transfer Agent or in any other capacity in respect of the security or securities mentioned
below, their respective legal representatives, successors and assigns (hereinafter collectively called the Obligees), in an
aggregate sum sufficient to indemnify the Obligees and each of them In case of a default under the conditions of this
Bond as hereinafter set forth, but not exceeding the maximum amount for which said Surety may lawfully obligate
Itself in respect of any single risk, to be paid to the Obligees and each of them; as their respective interests may appear,
in lawful money of the United States of America, for which payment well and truly to be made the Obligors do bind
themselves and each of their heirs, legal representatives, successors and assigns, jointly and severally, firmly by these
presents.
SEALED with the seals of the Obligors and dated this 4 th day of_- March ,19 92
WHEREAS the Obligors represent that the Principal is the sole and absolute owner of
MIAMI CITY FL 5.60% PUBLIC PARK RECREATION FACILITY DTD 12/1/77
DUE 12/1/97 BEARER'HONDS 1783/84 @ $5,000.00 E$CH. LOST COUPON
—_DUE 12/1/91
and all rights represented thereby (such security or securities being hereinafter called the Originals) and that the
-Originals have been lost, stolen or destroyed and cannot be found or produced; and
WHEREAS at the request of the Obligors and In reliance upon said representations and in consideration of the
execution and delivery of this Bond, the Obligees are willing to issue and deliver to the Principal or upon the Principal's
order a new Instrument or instruments In place of the Originals or to make a payment, credit, transfer, registration,
exchange or delivery called for by, upon or in respect of, the Originals without requiring the presentation or surrender
thereof for cancelation or stamping or for any other purpose:
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH that if the Obligors, their heirs, legal
representatives, successors and assigns shall forever defend, indemnify and hold harmless the Obligees and each of them
from and against any and all claims, 4emands, actions and suits (whether groundless or otherwise) and from and against
any and all liabIllties, losses, damages, cost and charges (including counsel fees and all other expenses) of every nature
and character as the same may arise or be made against or be incurred by the Obligees or any of them, or to which the
Obligees or any of therd may be, subjected, or which the Obligees or any of them may sustain; whether by reason or in
consequence of any claim wWch'may be made in respect of the Originals, or the issuance or delivery of, or refusal to
issue or deliver„a new Instrument or, instruments to any person or persons presenting or surrendering the Originals, or
the issuance or delivery o a new instrument or instruments In place of the Originals as a foresaid, or otherwise, without
requiring the pi6in5t16n or surrender thereof, or the making of a payment, credit, transfer, registration, exchange or
delivery upon or in respect, of the Originals or of the new instrument or instruments issued In place thereof, or any d�
other act or refusal to act which the Obligees or any of them may or may not do or permit upon or in respect of the
Originals or of the new instrument or instruments issued in place thereof, whether or not caused by, based upon or h
arising out of inadvertence, accident, oversight, neglect or otherwise on the part of Obligees or any of them or on the C\1
part of an officer, agent, clerk or employee of the Obligees or any of them, and whether or not any act or refusal to act,
J _ which the Obligees or any of them may or may not make, do or .permit, is made, done or permitted without previous
tQ inquiry into or contest of the propriety of any such act or refusal to act, then this obligation shall be void; otherwise it
shall remain in full force and effect.
Partnership
• Acknowledg-
ment
Corporation
Acknowledg-
ment
Surety
Company
Acknowtedg.
Mont
STATE UV —
COUNTY OF
On this
Ss..
day of
Afth
19 , before me personally appeared
to me known and known to me
to be a member of the firm of
described In and which executed the foregoing Instrument, and he thereupon acknowledged to me that he
signed the same as and for the act and deed of said firm.
STATB OF
ss..
COUNTY OF
On this day of
9 , before me personally appeared
to me known, who, being by me duly sworn, did depose and say; that lie resides at
in the City of ,
State of ; that he is the of
the corporation described in and which executed the foregoing instrument; that he knows the seal of said
corporation; that the seal affixed to said instrument Is such corporate sea i that it was so affixed by order of the
Board of Directors of said corporation; and that he signed his name thereto by like order,
STATE OF
COUNTY OF ss.:
On this day of
19 , before me personally appeared
to me known, who being by me duly sworn, did depose and say; that he resides at ,
in the City of ,
State of ; that he is the of
, the corporation described in and which executed the fore-
going Instrument; that he knows the corporate seal of said corporation; that the seal affixed to corporation;
that he. signed his name thereto by like order; and that the liabilities of said corporation do not exceed
its assets as ascertained hi the manner provided by law.
And said
further said that he is acquainted with _
and knows him to be the
of said corporation; that the signature of said
subscribed to said instrument is in the genuine handwriting of said _
and Sias there to subs.cribed by the order of said Board of Directors.
92- 450 -
Individual
4 Acknowtedg-
ment
This Bond shall be deemed a continuing obligation and successive recoveries may be had hereon for the various
matters in respect of which the Obligees or any of them shall become entitled to be indemnified.
The Obligors, agree that in case the Originals be found or come into the hands, custody or power of any of them or
Into the hands, custody or power of any other person or persons the Obligors forthwith on demand shall deliver or
cause tine same to be delivered to the Obligees in order to be canceled or shall pay to the Obligees in cash whatever sum
shall be required on the date of such payment to enable the Obligees to purchase in the open market a security or
securities equivalent to the Originals.
The Prinicipal and Surety jointly and severally agree that, if for any reason and at any time or from time to time the
Obligees or any of them shall deem insufficient the indemnity provided hereby, the Principal and Surety shall forthwith
upon demand furnish (lie Obligees with such additional indemnity as ti►e Obligees or any of them may reasonably
require, and in the event of failure so to do tine Obligees or any of them may proceed forthwith to effect
Insurance for the benefit of the Obligees as their interest may appear in such amount as the Obligee
effecting such insurance may in its absolute and uncontrolled discretion deem reasonably necessary for the
protection of the Obligees hereunder, and the Principal and the Surety jointly and severally agree that they
shall forthwith upon demand reimburse the Obligee effecting such insurance for the cost thereof. To the
extent that such reimbursement is not so made tl►e Obligee effecting such insurance shall be conclusively
deemed to have sustained loss and damage by reason of the issuance and delivery of a new instrument or
instruments in place bf the Originals or the payment, credit, transfer, registration, exchange or delivery upon
or In respect of the Originals as aforesaid.
Said Surety agrees that its liability hereunder shall be absolute and unconditional regardless of the
existence or non-existence of liability of the Principal hereunder and whether such non-existence of liability
be by reason of any irregular or unauthorized execution of or failure to execute this Bond or any absence
of interest of the Principal in the subject matter hereof or otherwise and that its liability hereunder shall
accrue and become enforceable against it without prior demand or any other precedent action or proceeding
against the Principal.
The obligation hereby created in favor of each of the Obligees shall remain unaffected by the termination
of the particular capacity in which any Obligee may now or hereafter be -acting with respect to the Originals.
Ms Bond is entered into under and pursuant to the laws of the State of New York and shall in all
respects be construed in accordance with tl►e laws of said State.
(Individual) (L. S.)
Zi Principal
U Jack Rxttenberg
(Partnership)
Principal
by
A General Partner
(Corporation)
Principal
Attest:
by
Secretary President
(L.S.,
Attest: BOND NO. 237598 SEABOARD SURETY COMPANY
Surety
by ,
g � Jean Ri ley tresident
9ttorney—In—Fact
STATE 06PA
COUNTY OF ss.: d
ash
On this `� day ofM&C19� before me personauy appeared
to me known and known to me to be the Individual described in and who executed the 6
j he duly acknowledged to me that he executed the same.
Notary Mile
Bt to W nald3 at lams
My Oorrtmisslon Expilm-
i
,and
:J�
STATE OF Floridn
• ts.:
Ci)t YTY OF' Dade
I. the undersietted Jack Rittenberg
.being duly sworn, depute and say:
I am of legal age and reside at 1780' N.E. 191 Street 1205 N Miami Beach FL 33174
rathe County of bade . Stare of_ Florida ,
(In or about the 1st d av of Decemhi--r _ 19 91 - certain secWhies
(heseirtafter called the Secudries) mote puticularly described'as
Du1M CM FL 5.60% SjSUC pARlt nCN F7aclr M rM 12/1/77 WE 12/1/97
lam Baw 1783M @ $s,wi.00 Fm31, war c 3jp N am 12/1/91
mellisceereed sin) the name of (Indiecte if is better (ate..)
EENR V.
.-ere lost, stolen or destroyed under the following circumstances: y
(Describe clearly tied is detail the circumsraetcas under which the
Securities were lost. states at destroyed. the place `hers they +ate
lstt know to bast been located. tad the tlforts made to recovex these.)
Cpns were in my vault. Whgn I went to cash them in I noticed that they
were missing.
Eieept as stated above. 1 have no knowledge or in(ornestion as to the wheresbouts of the Securities.
iltt sole and absolute owner of the Securities is
(indicate by a which of the followiss is applicable, and, if "a" ec "C". legal the regeLed leformstiaa.)
(A) the undersigned.
CRa1 , aCorporation
duly organized under the laws of the State of
. having its principal office
ar and
RAM an executive officer, to -wit, the
authorized by said Corpotscion to make this alfidavie
of said Corporation snd duly
DO t a eo•partnetship
doing business under said name. having its principal office ac
and 1 am a general pretmer of said first.
Except as hereinafter specifically stated, neither the Securities not say of the tights represented thereby have
been sold, assigned, ai :dowsed, transferred or deposited under any agreemeoc or subjected to soy bypotheeatien
lien or pledge. or in ant, other manner disposed of by or on behalf of said owner and neither said owner not anyone
on- behalf of said owner has executed any power of attorney, stock power or other assignment or authorizition in
respect thereof which is now outstanding and in force, and no person, firm at corporation other than said owrttr.
has any right, title, claim, equity at interest in or to the Securities at any of the rights represented thereby.
Wtseribs• fully cry esceptians to the foresoins)
This affidavit is ``wade for the purpose of inducing MIAM CM, FTC
i .and Chemical Dank, as PI&M At3TIP , (1) to refuse to honor the Securities shouli
they be presented by anyone other than said owner lot translec, payment, exchange or otherwise, and (2) to Issue
replacement securities fillitu thereof or to make the transfer, payment, delivery or exchange to which said owner
1 would be entitled upon the swrender of the Securities.
Subscribed and sworn to before as (,{
on the 30 day of
(Seal)
Mr Commission expire d+gyPiMIC.6TATEOF(iw4 Ip
fly c' CRY WrVIM 9.2 - 450
(This affidavit tralYir l{iitit f awotn to before a Notary Public or other officer gvalilied to
adninistervatKSueir-�btsr- o �t;� rK ..�
must aflis his —seal of office and state rbe date,
It any. on which his commission experts. IT esccuced outside the State o/ New Yorlra-Eogci t�v �.�
_-Care iticate.Ior_.oshv_eolw_unt authentication) evidencing the authority of the Notary public (a occur
STATE OF NEW YORK
COUNTY OF ss
On the 4 th _.. day oF.... March An the year 19.g.z, before me personally came
__..__........ ...._........ .
Jean Ridley to me known. who, beingb • me duly ._............_ .._..........._ .. } y sa-orn, did
depose and say that he resides in._. ...... ..._ ......_New York N. Y.: that he Is
the Attorney -in -Fact of the SEABOARD SURETY COMPANY, the corporation described In and which executed the above Instrument:
that he knows the seal of said corporation: that tite seal affixed to said instrument Is such corporate seal: that It was so affixed by order of tite
Board of Directors of said corporation, and that lie signed his name thereto by like order: and the affiant did farther depose and say that the
Superintendent of Insurance of the State of New York, has, pursuant to Section 327 of the Insurance Law of the State of New York, issued
to Seaboard Surety Company his certificate of qualification, evidencing the qualification of said Company and Its sufficiency under any law
of the State of New York as surety and guarantor, and the propriety of accepting and npproving It as such: and that such certificate has not
been revoked.
SHEILAH M. ACFEE
Notary Public, Slate of Nnw York
__
No. 24.498740500
CAu _................ _.
Qualified i:t King, Notary Public
Certificate Fil 9 County
l±urm Sae Cemmica a iltd n Now york County
pi es C}c'c'a±r 15, i99J
s
ADMINISTRATIVE OFFICES: i3EDMINSTER, NEW JERSEY
FINANCIAL STATEMENT —June 30, 1991
ASSETS LIABILITIES
*Stocks and Bonds ..................... a198,759,933 Reserve for Unearned Premiums................. S 59,580,112
Cash in Office & Banks ................. 5,264,935 Claim Reserve................................. 54,747,863
Accrued Interest ....................... 3,313,063 Other Reserves................................ 17,920,375
Outstanding Premiums .................. (6,5J2,609) Capital Stock................................. 2,500.000
Accounts Receivable ................... 13,858,220 Surplus...................................... 83,112,211
Other Assets .......................... 3,197,019
Total Admitted Assets .............. $217,960,561 Total Liabilities............................ $217,860,561
• Bonds and stocks are valued on basis approved by National Association of Insurance Commissioners.
Securities carried at $8,397.898 in the above statement are deposited for the purpose required by law.
STATE OF NEW JERSEY ss.:
COUNTY OF SOMERSET
I, G. F. THOMPSON, President of SEABOARD SURETY COMPANY, do hereby certify that the
foregoing is a full; true and correct copy of the Financial Statement of said Company, as of June 30, 1991.
IN WITNESS WHEREOF, I have signed this statement at New York, New York, this ......4 th... day of
............... 10axCb............................ 19.....9.2..
��e,UREfy�"t,
1927
w
Revised Form 157
41
450 )%
- — - - -
vv
Certified Copy � -
Na.:- t 119t7 - ADMINiSTRATiVE OFl`ICES, BEDMIN57ER, MEIN JERSEY=
- _
POwEp op Al t d!!NO. = - -
Mbw ALL MEN hY THESE PRESENTS: that SEABOARD SUflETY COMPANY a carparitlpn of the State of New York, fibs
mt182, constituted and appointed end by these presents does maize, ton5titute anij,appbint ` Richairii
-i?aUl&Morello or Robert E. Boesch or Paul Salmon or Kenneth_.-J Kyan_ of Janes r.: Herding oz
Joliette Nelson ar Charles p: Moran or Pat rick .G. Wasir or Kenneth Farricker of Pgtrice
L mbardo or Jean Ridley or Edward A. Fancier; III or Shawn Lynch or Paul _Ma of Andrew J. `. Baul t
o New York, New York
its true and lawful Attorney -In -Fact, to make, execute and deliver on its behalf insurone e poilcfes, surety bont3s, undeAiikings i hd
other• instruments of similar risture as follows: Without Limitations
Such insurance policies, surbiy bonds, undertakings and instruments for said purposes, when duly executed by the aforesaid
Attorney -in -Fact, shall be binding upon the `said Company as fatly anti to the same extent as if sigried by the duly authorised
officers of the Company and sealed with Its corporate seal; and all the acts of said Attorney in -Fact, pursuant to the authority
hereby giveh, are hereby reilfled and conffrnied = _
- This appointment is made pilrsuent to ttie following By -Laws which were dulydoptpd by the board of Directors of the said
Company on December 8th, 1927, with Amendments to and including Januasry 15; 198� and are st111 in full force acid effect:
ARTICLI: VII. SECTION is - -
" Policlet, bonds, recognit ante=, stipulatlonf, eonsenti of surety, underwriting uilderiiktnps rind insirufne' 64 reiaiiny thereto.,
tnsurarice policies, bonds, recogniiances. stipulations• consents of surety and underwriting undertakirigs bf the Company, and releases, agreements and 'other
virritings telating in anyway thereto or to any claim or loss thereunder, shall be signed in the name and on behalf of the Company
(a) by the Chairmen of the Board, the President, a Vice -President or a I;esident VICe-President bind bytht� secretary-, bn A3slslani Secretary, a hesl6M
Secretary or a Resideni Asslstant Secretary; or (b) by Bin Attorney-ln-Fact for the Company appolnted and Biuthorlied by the ChalrmAn of the board, the
President or a Vice-president to make suchslgnature; or (c) by such other officers or representatives es She 00'ard may irom ilme to limb determine.
The Seal of the Company shall it appropriate be itfiked thereto by any such officer, Attorney-fit-FBict or representative.". -
IN WItNES$ WHEREOF, SEABOARD SURETY COMPANY has caused these presents to be sighed by one of its jJied--
Presidents and.1 s corporate 'seal to Nfre'unto affixed and duty attested by one As of its sistant Secretaries, this; ...' zn......
dayof ..................... ....: 19........
Atfe§t - ` SEABOARD 5UR TY COMPANY, _
i927 -
+��or* (Seal) �y ....
K� As t 5ecr�tary Vic President
STATE OF NEW JERSEY ss..' _
COUNTY O ,ME"ET 91
lF _ - _ :. - December
On this :....... n before"rnersonah "a eared
Mictiel B:�ait egaYti
..........................................................................:... ......... .. a.Vice-i'resident ofSEABOApb SUETY COMPANY;
with whom 1 am personally acquainted, who, being by ins duly sworn, said that hi' resiiies in ttie Stale of New Jersey
that he is a Vice -President of SEABOARD SUi3ETY COMPANY, the Corporation described in and which executed the foregoing
Instrument; that he knoviis the corporate seat fit the said Company; that thb seal affixed to bid instrument is such cotporate seal;
that it was so affixed by orderot the Board of Olrectoi s of sald Compa_ ny; and that tie signed his narnb thereto as Vice -President of
said Company by like authority. !. ",ls �'^.;i =
4` ►' •\ NOTARY F:;3:`G
(Seal) N ►�,, My Commisslon �xpif6z Ju ie 4, i 6 4 B - - _
t t. _ %8LI 1
CERTIFICA�
No ary Pubtit
the n`edAssistant9ecreteryoi5EABOARDSUAETi'GOPJIPANYdoherebyf!eRRyihattheorigiriaiPorofAttorne"yth f 61WhlchbribolridIi
Bfull,triteandCorroCtCopyrsinfullforceandelleclonth8dateOtthlst,ettitiCltleAndfdoturihafcerti�ythetiheVica-Pt@sldentwhoexecutedtheBialdpowerof -
Attorrieji w8s 611 of the blficers authorlied by the Boatel bf Qlrectort# to appoint iif attorney In. fact As provided in Article Vli, 5eciron 1, of this By lbws -i
5EABOARD,SURETY COMPANY
Ttiii ibeMlldtife may fii if nd sealed by facslm116 i ndB t and 6y authorfiy bf the 1oUaw166 resolution of the Execuiiva Coinrnittee of tFe Boarell bt
- . Directtl of_ SEABOARD SURETY COIJ PANY at_a meeiing duly called and held an i_he 25ih Bey of Mort i t870 =- _ _ =: _
oeri f cation of the c6rrect6e9a bf a copy of iri instrtir?ient 6660ed by the. President _at.a Vice=presf3entp"ursuant lb bnlcle VlhSection t, 01 ftie 9y Laws"`
>lppnfhting and eii3i3ri2f6g eh4ltarney-1n.46t to slpn Cn the=nehie and�on behalf n1 this CiSi)ipany s ely bontls, uridenvnl(nb undertekings ar_6ther
insirtrmtints described 16 "id Arild0lt Section t with Like et'fe'ct Wsi if `such iial and subli ii6nar8 hats tubeers tnfiKdmlyviiieti end im da. hi:roby is
1N_WitNE�S WHEREOF=, I have hereunto set my_hanti and aftixe� the corpblaie seal 6f the Cotnpaitiy fo these p�esen4s this
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