HomeMy WebLinkAboutR-90-0880J--90-809
1.0/10/90
RESOLUTION NO. 9 U 8 8 0
A RESOLUTION AUTHORIZING THE REPLACEMENT OF
CERTAIN CITY OF MIAMI, FLORIDA GENERAL
OBLIGATION BONDS, DUE JUNE 1, 1993, IN THE
PRINCIPAL AMOUNT OF TWENTY-FIVE THOUSAND
DOLLARS ($25,000.00) TO SUBSTITUTE LOST
BONDS.
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 June 18, 1990, by Sidney Edelstein and Evelyn Ager,
that (i) Sidney Edelstein and Evelyn Ager are the lawful owners,
or have a proprietary interest in the Twenty -Five Thousand
Dollars ($25,000.00) principal amount of City of Miami, Florida
General Obligation Bonds, due June 1, 1993, bearing 11.50%
interest, Certificate No. RR 9384; (ii) the Original Bonds have
been lost, stolen or destroyed; (iii) said Sidney Edelstein and
Evelyn Ager have no other knowledge or information as to the
whereabouts of the Original Bonds; (iv) the Original Bonds have
not been sold, assigned, endorsed, transferred or deposited under
any agreement, hypothecated, pawned or pledges, or in any other
manner disposed of by or on behalf of Sidney Edelstein and Evelyn
Ager; (v) the affidavit is made for the purpose of inducing the
City of Miami, Florida (the "CITY"), to issue new or duplicate
bonds in lieu of the lost bonds, 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, or the refusal to make transfer of the original
lost bonds.
CITY COMMISSION
MEETING OF
N 0 V 8 1990
(b) The City Commission has received and caused to be
examined one counterpart of an Indemnity Bond, (hereinafter
called the "Indemnity Bond"), executed June 26, 1990 by the
Fidelity and Deposit Company of Maryland pursuant to which the
Fidelity and Deposit Company of Maryland is firmly bound unto the
City of Miami, its successors, and any other parties vested with
powers or duties respecting the Original Bonds or the Duplicate
Bonds (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, which shall
remain in full force and effect until the Original Bonds are
returned to the City and are cancelled.
Section 2. For the purpose of providing bonds in
substitution for the Original Bonds 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
of the City of Miami, Florida similar to the Original Bonds to
the fullest extent feasible, in the principal amount of Twenty
Five Thousand Dollars ($25,000.00), consisting of Certificate
No. RR 9384, designated "City of Miami, Florida General
Obligation Bonds," bearing interest at the rate of 11.50% per
annum, payable semiannually in each year and stated to mature on
June 1, 1993.
The Duplicate Bonds 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.
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 to be printed and delivered
to the City Commission for execution, pursuant to the provisions
of Ordinance No. 9129, adopted July 10, 1980 and subsequent
resolution(s) authorizing the issuance and sale of the Original
Bonds, by the manual signature of the City Clerk, the facsimile
signature of the Mayor, and the facsimile seal of the City.
_2_
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 are in proper form and have been
duly executed, the Director of Finance shall cause the Duplicate
Bonds (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 Sidney Edelstein and
Evelyn Ager.
Section 4. Upon delivery of the Duplicate Bonds executed as
herein provided, the Original Bonds shall be null and void and no
longer an obligation of the City of Miami, Florida. If the
Original Bonds 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 to be cancelled, 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.
Section 5. All costs and expenses incurred by the City in
connection with the issuance of the Duplicate Bonds shall be
charged and collected by the City from the owner of the Original
Bonds.
Section 6. This Resolution shall become effectice
immediately upon its adoption.
PASSED AND ADOPTED this 8th
ATTE :
a
MAT HIRAI
City Clerk
PREPARED AND APPROVED BY:
• L(�Lhh
AEL DIAN
Chief Assist t City Attorney
ROD/pb/M179
, 1990.
day of
XAVIER L. S
Z, MA
APPROVED AS TO FORM AND
CORRECTNESS:
4i�
JO E NDEZ
City Attorne
-3-
a
CITY OF MIAMI, FLORIDA 29
INTER -OFFICE MEMORANDUM
Honorable Mayor and Members
TO : of the ity Commission DATE : OCT - 51990 FILE
SUBJECT: Agenda Item - Replacement
oe of Lost Bonds
Cesar H. Odio
FROM: City Manager REFERENCES:
ENCLOSURES:
RECOMMENDATION:
It is respectfully recommended that the attached Resolution
authorizing the replacement of certain City of Miami, Florida
General Obligation Bonds, due June 1, 1993, in the principal
amount of Twenty Five Thousand Dollars ($25,000) to substitute
lost bonds, be approved.
BACKGROUND:
The replacement of bonds lost by holders of City -issued bonds
requires City Commission authorization. A holder of $25,000 in
City of Miami, Florida General Obligation Bonds, due June 1,
1993, 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.
r
CI-EMICAL.SAW
Sectititles and trust Services
55 Water Street
New York, N.Y. 10041
INDEMNITY BOND
IMPORTANT INSTRUCTIONS
1. Tile Surety Company executing this Bond must be tic of cite
standard c:ulnpatdes,. authorized to write indemnity bonds in the: State of
New fork and acceptable to each of the Obligees.
2. 7his Bond must be acknowledged by both the Principal and the
Surety Company.
Tile 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:eacli counterpart of
the Bond.
3. The authority of the officer of officers executing this Band oil
behalf of Ilia Surety Company must be shown by a copy of the b-t-laws,
resolutions or * similar authorization, certified by the Secretary or an
Assistant Secretary of the Surety Company as being in effect on the datr-. of
execution of this Bond and, in case the authorization is given to tilt; holder
of a particular office, the certification must statd tliat the.person execulintl
this Bond was the holder of such office on said date. Certific.ttions by
attorneys -in -fact or by "resident" officers of the Surety Company or by all
officer who executes this Bond are not acceptable.
If the Principal is a corporation, the authority of the officer or officer:t
executing this Bond on behalf of the Principal must be shown in lil:ll
manner.
4. In a case where the new instrument is to be issued hi tht:•naiue of;
or payment in respect thereof .is to be made to, sonieono otlice thail tilt;
registered Bolder of the lost, stolen or destroyed security, all tilt: fornialities
necessary to complete a transfer' must be complied with, including tho
furnishing of a detached instruillent of assignment by the registered holder
or his legal representative wiill the signature thereto •gitarantcud in t1to
customary manner, transfer tax stamps (or funds in lieu therer.l') a11.1 ;;ttca!
other havers as may he necessary tinder the circumstances.
S. A' -I i'Mclavit establishing ownership of th,: last, stcll;u �:: Y es'.tctyt:Yl
se"Il'it}' :tild s0tting forth in detail the facts and C11-41-:lillst411Ct ; ' YJ tI is
theft or destruction should be attached to each Cau:lterpart u'' ihis I'lo :i,
unless tert:viuusly furnished,
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L Sind? OJa,.t Pt•11011)• Jlall d 170c:�,
`V •
H -a-r.;lEMNITY BOND
Eliuw all Mira hV,flipt Fresed1l, that,
.,� ����.i' :_�_�•' i�'•�•_1�.__ (%t
i(i-ve complete address) 11
--_-____-- -- - ._---...__.-.--•--...._�_.._._ , as Principal (lie,cinatler calIcd 0 : Vimvipall, air'
�: ; ci•�l. .�—D�y��� it:_.5:�:;lntsttlk_o��.Ms�.►�j!�•s"i11SL----------------.... .--- _--_.__.
- __---—•--------•------..—.-----__--- , duly autltulitud to tr•ani.in t the business
inJcnwity and suretyship in the State or New York, and having an office and principal piaca O' businov, it The City
New York at 111_Jolin S t t _cet-__- ______---.—_-- — _. _..�..----__-.-•
as Surety, (the Principal and said Surely being hereinafter collectively sometimes called the Oblig; rs) are hel•1 all,
Gnnly bound unto_ __- _._lemical :Dank
_ Miami, Florida - -----------
and unto all such individuals, Iirins 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 muntioncd
below, their respective legal representatives, successors and assigns (hereinafter collectivoly ;called the Obligees), inn till
aggregate sum sufficient to indemnify the Obligees and each of them in case of a default'un0er the conditions of this:
Bond as hereinafter set forth, but not exceeding the maximum amount for hick said Su eiy may lawfully obligate:
itself in respect of any single risk, to be paid to the Obligees and each of them, s their respe Live Intwosts may appear.
in lawful money of the United States of America, for which paymcnt well and truly to be'made the Obligors do hind
themselves and each of their heirs, legal representatives, successors and assigns, jointly and severally, firinly by the-;,;
presents. 1
SEALED with the seals of the Obligors and dated this 26th day of_Jilne
A E the O ligors represent tlrat'the Princ pal is th sole and absoluye owner o L _- L=C�
rdiatni Street & Highway Improu meat .11. 00% D e 6/1/93 _
Cti kR 93 84 @ $25,000
!NLQ S i elnee. F i a l s t a in._& R.SLs1yj1 Age r .TT T, __.. .__.
and all rights represented thereby (such security or securities being hereinafter called the Originals) and tliat the
Originals have been lost, stolen or destroyed and cannot be found or produced; Intl
WHEREAS at the request of the Obligors and in reliance upon said representations and in consideratioa of ti c.
execution and delivery of this Bond, the Obligees are willing to issue and deliver to the Principal or uptin tho Principal...
order a new instrument or instruments in place of the Originals or to maim a payment, credit, transfer; iegishrlion
exchange or delivery called for by, upon or in respect of, the Originals without requiring the piesentaiiun ur suucud,v
thereof for cancelation or stamping ur for any other purpose:
NOW, THERE17011H, THE CONDITION OF THIS OBLIGATION I.S SUCH that it' the Obligors. their hair,, lq-..,l
representatives, successors and assigns shall forever defend, indemnify and hold harmless the Obligees ami a.ch of there
'-coin and against any and all claims, dannancts, actions and suits (whether groundless or othorwise) and from and aCain:,t
any and all liabilities, losses, damages, cost and charges (including counsel fees anti all other ex reused of evrry rc►tule
and character as the same may arise or be made against or be Incurred by thu Obligees or any of theni, or to which tl•-
Obligees or any of ilium may be subjected, or which the Obligees or any of them may sustain; whethei by Jeason cr iu consequence of any claim which may be inade in respect of the Originals, or Ilia issuance or delivery of, or refusal ,,,
issue or deliver, a new instrument or instruments to any liaison or persons presenting; or surrenderin- Oic Origil,:nls, ..,
the is.a,s,:c•c or delivery of a new insn tunent or instruments fit place of the Originals asit foresaid, or uttus; wi•u, »itho; i
re'±uiling file presentation- or stureadc!r thereof, or Isla limning of a payment, credit, transfer, registratii,n, (-xci,rir;a I ,
dicer)• upon or in resp,;ct of the originals or of Ilia now instrument or instruments isiued in place f!rarref, cc, riiv
wirer act air refusal to act K"hich the I)bli��ec�s or any of them may or may not do or permit upol! or ire rerpeet nif EL.
014irais or of the new instrument of iustru►nertis'issuad in place thereof, whether or not caused 1) uralr , 1
arimn;, out of inadvertence, accident, oversight, neglect or otherwise on the part of 01)lil,ee3 or any ►.t, Illeut or ci►i,l,:
pert of an officer, agent, clerk or employee of the Obligees or any of them, and whether or not any act or rafusal'tr• acj,
which the obligees or any of than tray or may notgnuke, do of permit, is inade, done or porrnitte I witlurat prot4ous
inquiry into or contest of the propriety of any such act or refusal to act, then this obligation stwil be void; otherwise it
Aiail renu►io in full force and effect. 1%
9 U 880
80
a
[his lioad shall bt: deauteti a Continuing ubhgation .old successive recoveries lnay be hat! I►�at� . 'ter �!►� �•►��
,,I It.:rs in respect of which the Ublil;ee:; of :u►y of them shall become untitled to be indentt►lfied.
'fhe Obligors, agree that in case the Odginuls be found or come into the hands, custody or tower ut -my of theta
into the hands, custody or power of any other person or, persons the Obligors fortll%.Jtln orudcm3nd :;hall deliver -r
;.::►: c the same to he delivered to the Obli,;res in order to be canceled or shall pay to the Obligees in t, vl. whatever sit.
>!..:I: be rc<iuired on the date %4' su;lt ir►yuW"►t to rn!hle the Obligors to purchase to the open m:u1:, t •t sac« my
taaics equivalew to the 0ri� inal:;.
'fine Prinicip:d and Surety jointly and sevurally agree that, if for any reasun and at any time or Pion, line: W ti►nc II,
C�hlt;':as or any of them shall dectu insufficient tho indemnity provided hereby, the Nindpal mid SurcINP shall forthwitt
c!l:o:i den;and furnish the Oblipecs with :;w;h additiunal inderruuty as the Obligees or any of theut may rcast�nahl;'
IvIlw1c. and in the event of failure so to Flo • Cite Obligees or any, of them may proceed fortIvivith to afro'
in�w"llce for the benefit of tit.: obligeos as their interest may appear is such amount as the Obligt
r,fcrtimg such insurance may in its absolute and uncontrolled discretion deein reason.tbly ncc-essivy fo. tl,•
prju�z.ion of the Obligees hereunder, and the Principal and the Surety jointly and severally agree that Iht_
.'It.:!] forthwith upon demand rcimburse the Obligce effecting such insurance for the cost thereof. To flo.,
c.Niont that such rcimburscirictit is not so made the Obligee effecting such insurance shall be conclusive.k
deon:::d to have sustained loss and damage by reason of the issuance and deliver), of a new Wiaunwitt (it
instrurttents in place of the Originals or the. payment, credit, transfer, registration, exchange or delivery upct.
Ili respect of the Originals as al'oresaid. '
Said Surety agrees that its liability hereunder shall be absolute and unconditional regardless of tit
e,ixten:e or non-existence of liability cf the Principal hereunder and whether such non-existence of liabilill
b, by reason of any irregular or unauthorized execution of or failure to execute this Bond of any abscnrc
t•f interest of the Principal in the subject matter hereof or otherwise and that its liability hereunder shall
l;en►e and become enforceable against it without prior demand or any other precedent action or pruceediry
acsittst 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 thu Originalk3
This Bond is entered into under and pursuant to the laws of the State of New, York and .,.,hall in ;r:
aspects he construed in accordance with the laws of said St fd. .� / .- ; a' /" .>
•�{,-E, r r✓ G�-Gl i !; /:l�l,•'1- r.., G••r-1..
L �1 (Individual) ek_ ._.__— —.r. ([.. S.►
Principal �
(Partnership)
Cliiecipal
by (L.i. •
A Genera! 11artact
(Corporation) �_ __ - • __ - _ _ —_
Principal
by
Secretary President
.i.•:.l i '.�''!'t waif l_;:i.l •i r.J'�.L�.L�r». ... _ .
Attest:
urety -------�t ._—...
by
Sectetat y I
P"
STATl:t7F -i �L:�'//1.3 --... --- aUA'•'. SP'..12, .It'. l.ji, ti";.�:• .{i=
f
tt:;t O:: it 1S__ dui' i•i ......__..� �_ !�j7:.._.._.. ly-!'�' bCtJr•., ins il.[Stg4J'ty� ►hlt�'t'Tl•;t
it
fu
.:: Ix:own and known to me to b,' rha Didividual described iu and who executed tits foregoing insiruwc tt:
lt; duly acknowledged to n►e that_/!_'..c_ lie executed the mino. (� O ._ 8
t0111T =+ht: 3TATt W fteRIOA t1i �' i
!► ,,.,:t.•a• t,,;• OCT TI,ni9'J \ '.�.,1-.cam-•F:.C��SJ
li•va•� 'till GfA.�.tt
a.
oil thi'-......_. . ' liar ('t- - - __._..._-- ---- 1�---- F:•furc Ite F,... ;,r.11l., a1:,
to Inc kn„v:a -;:I Lnov%l !
to t;e a nicntt,rr „Ithe I-IIIr (,t....._ .._.__._._.__..____._ _-----_----•--_---�----..._-..
described in •in(L wbici► ex,:rntod the Iurelloing instntinentand he thereupon itekno'.0cd (A to ni; 11, ii
•ign(:d the -ame a•: and I'm Ira• act and deed of said finn.
STATEOF—__--_..-_ _ _._ .._..._.._...___..__.
COUNTY OF ---_.
Curpu s:i•:.:, On this _-_._---._ day of_ 19 , before me 1,cuzomilly aprI ,rci
to Inc known, who, being by nie duly sworn, did depose.and say; that he reAdes
-- - - ---- ---- in the City of --
state of— __--- ; that he is the
the corporation described in and which cxccuted the foregoing instrument, that. lie knows the seal of sail
corporation; that the seal affixed t'o said instrument is such corporate seal; that it was so affixed by oider „; Ih,-
Hoard of Directors of said corpora(ion; and that lie signed his name thereto by like order.
State of New York . +
County of New York ss:
On this 2 6tb day of ,7u ne 19 90 , before me personally app: ared
William Spasr, Jr. to me known„ who, being by me duly sworn, did depose -and say: That he result:.:
in Nudey, N.J.; that he Is an Attorney -in -Fact of Fidellly and Deposit Company of Maryland, the corporation
describcd in and which cxecuted the withirt instrument; that he knows the corporate seal of said corporation;
that the seal affixed to the within instrument is such corporate seal, and that lie signed the said itistrumcii'
and affixed the said seal as Atiorncy-in-Fact by authority of the Board of Uirectors of said ,mrpotatit? .
and by authority of his office under the Standing Resolutions thereof.
f.ANI)(A ' It t.1.
No;ayPuIUv:.R:.,e,1I'l-I /•„
c: �) ::o
s - � ?�• ..clams- ,
I+,,_ �� � .R s��Ii�AE��!'�:"lAOrM.!'(�:71F�^'.'�'��'��SIAGf'•a�?iaz#M��.w�•. .e,q�e ,..
IWE
f i , r,
''n _r .1: .., ti:' 1 l•. ..! .' i ++ ,•[.� ). :� __ I`T .''I�._�...... t fr.ila 'l1'111
.t!lt:d !?1.• ..teacart:. , .:iri:. iro:.cit .tl.ut:, t :ii t•�j .i:
irA FL Str(�('t F. Ili ;ln: cy I.ulr I I . 1:'. Gua ti -I 9'l
t::,r::L'(ra:t' le. ,9.i d': "!' ,toki
;i U 5itlnt:), KdoI c ..IT t•'',\
in t.rc name i1 On lic.lw it i" l • : n r l•:nn.l
ntol•rn or dc:;traycJ nntuer the• following rircuno.tanr-es:
(DestriLv: tAcatly .tnd in detail the eircurri�;tsnces un.fer which the
�! Securities were lust, stolen or destroyed, the place where: dtey :Here
last known tohavebeen located,'and thetS�fgrts Made to r�gcovei diern.) � t
,,•t,: �•� 1.�; AIL6 .i �•r .'�,t, �• L r1.-'�I�l�f.'1j�(:.(' . �t�� '�..,i•�,r `� ��►,, f,. ( (' S)- .(.....1.,.. r ,, ,
s) -r frt�i:' .., 1)/t,/ �•'�'LG. �1 4c. 4 -•f' ,1 e')%'!. rr ;. t ' t
,� .fix, � ;• z� _,; ,
, ,-:, jar ri,,� ,.'�.. 1. r f
,I
Except as statcd above, I have no knowledge or information is to the whereabouts of the SCCUricie ;.
-'he sale and absolute owner of the Securities is
(Indicate by L4 which of the followiuf; is applicable, sad, if "3" or "C", insert :he requin:d inforn.:tti,r-..)
E A; :tie undersigned.
`u!c• cr c,nized under the laws of the State of _ , having it!: principal offii
1"am an executive officer, to -wit, the , _ of said Cerhoracion and dud 1
autborizc.l by said Corporation to imikv this affidavit.
Ln - --_-- __-- f' u co- part nershi•t
doin4 business under said nnme, h..ving its principal office" at _
_and I am a general pariuer of sail fit
Fxcept as riereinaftcr specifically stated, neither the Securities nor any of the rights represeitted thereby
been sold, assigned, endorsed, transferred or deposited under any agreement or subjected to any hYpothec:x:i: it
lien or pledge, or in any other manner disposed of by or on behalf of said owner and neither said ocvtttrr ear any.: I•
on behalf of said owner has executed any power of attorney, ':stock power or other assignment or authorizatiol- ':t
respecr thereof which is now outstanding and in force; and 'no person, firm or corporation' other thwi said oe.::.:
has nv right, title, claim, equity or interest in or to the Securities er ariy of the ;if;hts repr�scntt •.? tlu�:relrr.
(f)cst:rib.: fully any ezcefttion•: to�the foregoing;)
is uta.tt: fur O.0 ! tat ltt ;.: irtdti<:in{
"°�aZd,�:w�t;•tir�iP.cee
..... Oieinica an , as titi l
they be presented by anyone other than :;.rid owner for [tan
-enilre,nrnr securities is lied thereof or to make the transi
•-:otilli tx entitled upon the surrender of the Securities. ••,
:,t:bscri`.-d and sworn to before me
tit: th•' - -= ) day of I
(Seal) I
Carrm!!.sion expires AA TARP n TC ST Ir�_�j[�I�A19
i e•r cnHrir.::e;; r ; r .ruNf zr, t ��t
(Thi:c affidavit mush bc��tii�tisiiihEllr:rtid�+�wUliVi. to before a Notary 14ublic or other officer yualifird to
;&A,.iin:stcr oaths. Such Notary Ptiblir (or other officer) must affix his seal of office And state the date,
if :tn;r, on which his commissitui czltires. I( executed outside the State of New Yorke a Couury (:1crl:'.t i C vrtificate (or other competent :uuhrntic:uion) evidencing the authority of the Notuy Public (or other r nffircr) to act must be attached to Inch counterpart of this affidavit. r
90— 880 '
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t -,t ,n _ .
JL► I .1 ) I"iI I(.)S I I \ al )N 11_D A]% ,`,
t Ii-' WWI 1 I,(1N1)
sdaii 31u ci•ist (of Finsinelsttl C matiition
.%S 0U .11)N1'::10, 19811
It,r,i!• .. .................. ........ ........
�i,ll !.:• ........................ ....... ..........
�� �'..1'►
l� :►I Estate ..................................... .......... .:........
t ::c•h in flanks and Offices suul Short Tern, In-esurtrnli.......... ....... ........ ...
!':','n2iums in Course (if Collecti,►t: (It-ss Ilia,, 90 days (,ldl...................... . ......
_3,193.40
lirinsurtnce and Other Ac cou,tlrt Ileveivahle............................ ...... .....
19,194.3::?
Ti i, AnNuT1'ED Ass1•:'Is..L ............................................. ... ...S.
1(13, 00.732
L1.+.BILITIEfi, SURPLUS AND OTHER FUNDS
liarrrty! for Unenrned Premiums .................... ' .............................
I�I,SI111.�171
lioserve for Claims and Claim l:apt+ttscl;...............................................
103,464J6113
U.-serve for 'raxes, and Expenses ....................... '...................... ........
7,()71).jn
11i-c•t•1laneotts......................................... ..........................
1(�.000,277
'I'MAL L.IABILI'rIES................................ .......................... .........,9�
:.'.i:?,l)13c1,•11{3
Capital Stool:, Paid Up ............ .......................... $ 5,000,000
Surplus .......................................... ............
_206v111,_0)
`:url►lue as regards Policyholder ::.. .............................. ........ ........
__
`I't I'm ..........................................................................
5
;(13._ (Illl752
fit•=•urities carried at $3,000,216 in [lit! above sttitemeul arc deposited as m(lttired by law.
Securities carried on the basis prescribed by the National Association of Insurance C:onunissione-':.. Un Ohl. Iasi
,.,f Jurrs 30, 1989 market quotations tar all lx►nd;: and stocks owned, the Contl,dhy's total a3mitl,'.I a:,sots oul►I
b,• t: i69,495,979 and surplus as reg arch policyholders $217,406,49b.
1, Ji)iEpU J. GALLAGHER, Treasurer of the F IUE:LI'I Y AND DEPOSIT COMPANY O M.AUL, A). do herrbt
certify that the foregoing; statement is it tx►rreet exhibit of the assets and liabilities of the acid Crttuluu►v. c►ss the
30tb day of Jnne, 1989, according; in the bast of my information, kno%%ledg;e and belief.
� r
`i'! ATIi I W RIARYLAND
CI 1'1 Of BALTiMORI. j SS:
Sznita•ribcd and .Korn to. before uiv. a Notary Public c.f the Slate! of N'larvland i:, I;tr t.ity "1' thin .,rr,
dOr
li'ull. V 1,11ZH
• 11y convuisii•nt eal,ire:; 'al, i. 11111(1.
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90- 880
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1
V
Power of Attorney
FIDELITY AND DEPOSIT COMPANY OF MARYLAND
NAME 01FXL tALTMOR1. Mo
fIi THEiE1eltk':G'� hi;Thet the FIDELI TYA>\D DEPOSITCOMPANI OFMARYf:,ili, : rorl,icnti•a ,
=:ate of Nlnryland, by 1.7. "• • 1• J• 1. )•I* . ,I it . Vice -President, and G . W . MA113I11S
A�vibtitnt ,,rreta.n•, in pursusm:r of aittlimity granted by Article V11, Section 2, of the 11y•l.aws cf said C:,unl any, -ihirli :.
r;h ,:.n the reverse side hereof a:ul ntr,hrrehy rettiiied to be ui fi 1 force and elf t (,it the daat hrrr•:,i ivoo: aVmeby n,•t:tir,
-ti•utc and appoint 1ii t 1 i.ni ;;j,.t,ar, f c. cif' ?J.tC _�`@W .T< r.r�.. _ .....
- : • L ,— a ancT'1; itd agent and Attorney -in -I: act, trt make, execu` Ud detivK and on its 1•chall i A nurt•t r, and r.s itn c ct in..' • ;
.� .3nd all bonds :ind I:ndeI-I..3k ings... �;�, .... �� ... _.... �_� .._..
C:: t c execution of such bonds or undertakings in anre of t sent», shall be al, Iiutding upem maid C onipren), a :,:II
hail amply, to all intents and purposes. as if they to een duly ed and acknowledged by the re:uulurl} c:le•cr,rl offi••.•t i •f
;he Company at its office: in Baltimore. Md., i own pro croons. This power of aLLtirn,r� cevoko
:..sa�.d on behalf of Willi;tan Sp- Jr., �� March 31,'1987.
The said Assistant Secretary dews hereby � diet the t set forth on the reverse side hereof is a true , •opy of At ii, L: V I .
�ectian 3, of the By -Laws of said Conhp and is noroe.
I V WITNESS WHEREOF, the staid V• sident anik* atant Secretary have herounto suliocrihed their uamen and nfiisc,i ILI-
Corporate Seal of the said FIDELITY( DEPOS�tZS01,1PANY OF MARYLAND, thl:t_.-__. l5rh_ ______ .__ ._ _ 1;tt ,►
.fu-te A.D. 19 8 \\
:�.�_�.. 1;IDIyt.i7'Y . OSIT COMPANY OF MAHYI.AND
TT S aTT: -, SEAL
.... _.......... ....�9. �...' `+ ...L.-+... t:c:::...._.._.... By_ ..................... 1•.. :«:!i-!.......__......... .
.4snirrt�atr rcrotary
-Vf,�e•1 esi,fent
STATb OF MARYLAND
(art OFBALTIMOHE , cc
On this 15Lh day of Tunc: A.D. 19 87 , before the subsctiluir, a Notaty Ptiblir of ibe
Aare land, in and for the City of Baltimore, duly commissioned and qualified, came the ahore-named Vice Preiii,fee3u sued r1;i:
Secretary of the FIDELITY AND DEPOSIT COMPANY OF DARYLAND, tome personally luuown to he the- individuals an,'- Ill%
de,eribed in and who executed the preceding instrument, acid they each acknowledged the execution of the snm•e. mid lwiii-;
nit, ditly ,worn, severully and each for himself deposeth and asith, that they itre the said officers of the Cornln:ny aforca::itl, .,, I
chat the seal affixed to the preceding instnunent is the Corlx,rate Seal of said Company,.id that tho said l.:e,rp,nnte `',•gal n;ur. d •• i
e:gnatures its such officers were duly affixed and subscribed to the eaid instrument by the authority acid dircelimi of ih,e said Corpm ii,,,i .
IN TESTIMONY WHEREOF, I have heretuito set my hand and affixed my Official Seul, at the City of Baltimore. the da; :i 1
year first above written. `.� -->' •"
/moo,:.....,
Notary litthlic ComTte4YitY
(:ERTlF1CA M
1. the undersigned, Assistant Secretary of the FIDELITY AND DEPOSIT COMPANY OF MARYLAND. eau hereby ,rest Ili: i
tier orii,,inal Power of Attorney of which the foregoing is a full, true and correct copy, is in full force and effect on tier,tat. • i U.
certificate; and I du further certify that the. Vice -President who executed the said Power of Attorney waa nee of the ael.litinu I t'i,••
Pr••�ident_K specially authorized by the Board of Drecturs to appoint any Attorney -in -Fact w; provided in :1:tieli• VI, �irrti, , .^
the By -Laws of the FIDELITY AND DEPOSIT COMPANY OF WRYLAND.
Thii Certificate may be silIed by facsimile under and by authority of the following resohition of the Bu,a d of Dire c ter: • J 'h,
FIDELITY AND DEPOSIT COMPANY OF MARYLAND at a mating duly called and held on the lGth day of Blip, 196e►.
RESOLVED: "That the facsimile or mischanic:ally reproduced signature of any Assistant Seers tary of du: C11111pany, whrtke
heretnfore or hereafter, wherever appearing ulKitt a certified ropy of any power of attorue} k ucd by t'ir i :, ,u lul a}, :iiu•i) .:1;
will b;r.ling np„n the Conipari)• will, it same force: end ,•ffee;t us though nia:nially aifixeei. '
t :ONY V, ill'ltu:(if'. (lu, ,• hrrrunr„ sal,ri1N d In} uses: lut,l al(i::,v3 the e,rpni^t.• •, ul of tlh• ::,iei :,:oi. .ni, 11 J^
.; a31•1• lit :PP.:, 1•1 '1
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