HomeMy WebLinkAboutItem #12 - First Reading Ordinance\ 4k 44
J-86-528
6/19/86
ORDINANCE NO.
AN ORDINANCE AMENDING SECTION 1 OF
ORDINANCE NO. 7861, ADOPTED MAY 13,
1970, THEREBY PROVIDING, SUBJECT. TO
APPROVAL BY THE ELECTORATE AT AN
ELECTION TO BE HELD ON SEPTEMBER 2,
1986, THAT THE SEVEN AND ONE-HALF
PERCENT (7-1/2%) PER ANNUM MAXIMUM
INTEREST RATE PAYABLE ON AN AGGREGATE
PRINCIPAL AMOUNT OF $17,375,000 STREET
AND HIGHWAY IMPROVEMENT BONDS OF THE
CITY OF MIAMI, PREVIOUSLY AUTHORIZED TO
BE ISSUED UNDER SAID ORDINANCE NO. 7861,
BE MODIFIED TO ALLOW INTEREST TO BE PAID
ON SAID BONDS AT A RATE OR RATES NOT
EXCEEDING THE RATE PROVIDED FOR BY
STATUTES OF THE STATE OF FLORIDA.
BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA:
Section I. Section 1 of Ordinano
May 13, 1970, which authorized
$17,375,000 Street and Highway
Miami is hereby amended in the f
1
t
No. 7861, adopted
an aggregate of
of the City of
o)
wing particulars
"Section 1 r purpose of paying the cost of
street and highw m ovements in The City of Miami,
including the con ting, reconstructing, extending,
widening, ad ng, ving, repaving, macadamizing and
remacadamiz of ghways, streets and other public
ways, with eessary drainage, sewer inlets, manholes,
catch bas s, sidewalks, ourbs, gutters and
appurtenance and the acquisition of land and rights of
way and th landscaping, clearing and levelling
thereof, shall be issued under the authority of
the City C rter, as amended, in addition to the
unissued 1000,000 Highway Improvement Bonds
,author a by Ordinance No. 7216, adopted on July 1,
1964 a approved at the special election held on
Sept 29, 1964 and subject to the election
herei ter provided for, bonds of The City of Miami in
6n ag gate principal amount not exceeding Seventeen
Milli n Three Hundred Seventy -Five Thousand Dollars
($17, 75,000),.such bonds to be issued at one time or
+from me to time and to mature as follows:
a<r ,dmrrw
Words and/or figures strip ,--
C0MMlSS10N
Underscored words and/or figu �:, NG
provisions are now in effect"'`
JUN28
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