HomeMy WebLinkAboutR-85-1127J-85-1149
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RESOLUTION NO. r, t
RESOLUTION AUTHORIZING THE EXECUTION AND
DELIVERY OF CERTAIN CITY OF MIAMI, FLORIDA
STORM SEWER IMPROVEMENT BONDS, DATED MARCH 1,
1975, IN THE PRINCIPAL AMOUNT OF SIXTY
THOUSAND DOLLARS ($60,000) TO REPLACE 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 August 13, 1985, by Shearson/American Express, Inc.,
that (i) the firm is the sole and absolute owner of the Sixty
Thousand Dollars ($60,000) principal amount of City of Miami,
Florida Storm Sewer Improvement Bonds, dated March 1, 1975,
bearing 6.25% interest, maturing March 1, 1987, numbered 341 thru
352; (ii) the Original Bonds were lost, stolen or destroyed;
(iii) said Shearson/American Express, Inc. has 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 pledged, or in any other manner disposed of by or on
behalf of said Shearson/American Express, Inc.; (v) the affidavit
is made for the purpose of inducing The City of Miami, Florida
(the "City") to refuse to honor the Original Bonds should they be
presented by anyone other than said Shearson/American
Express,Inc., and to issue replacement Bonds in substitution for
the Original Bonds;
(b) The City Commission has received and caused to be exam-
ined one counterpart of an Indemnity Bond, Bond No. SMR 263 34 63,
(hereinafter called the "Indemnity Bond"), executed August 5,
1985 by The American Insurance Company, pursuant to which The
CITY COMMISSION
MEETING OF
NOV 26 1985
i RESOLUTtOU NOW;, 711 f~
REMARKS.
American Insurance Company is firmly bound unto the City of Miami,
Continental Illinois National Bank and Trust Company of Chicago,
and Florida National Bank and Trust Company, 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 canceled.
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, 1924, as amended, and Resolution No. 42483, adopted June
23, 1971, authorizing the issuance of $10,000,000 Storm Sewer
Improvement Bonds, the Original Bonds constituting a part
thereof, there shall be issued bonds of the City of Miami,
Florida, similar to the Original Bonds to the fullest extent
feasible, in the principal amount of Sixty Thousand Dollars
($60,000), consisting of certificate numbers 341 thru 352,
designated "City of Miami Storm Sewer Improvement Bonds, bearing
interest at the rate of 6.25% per annum, payable semi-annually
on March 1 and September 1, in each year and stated to mature on
March 1, 1987. Such bonds being designated in this resolution
the "Duplicate Bonds," shall be registered.
The Duplicate Bonds shall be deemed to vest in the holders
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 Chase Manhattan Bank, N.A., 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 said Resolution authorizing the issuance of the
Ot I
rad
Original
Bonds, 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 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 affidavits
and a certified copy of this Resolution) to be delivered to The
Chase Manhattan Bank, N. A. for their delivery to said
Shearson/American Express, Inc.
Section 4. Upon delivery of the Duplicate Bonds executed as
herein provided, the Original Bonds shall be null and void and no
longer obligations 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 canceled, shredded and
destroyed, and shall cause a signed certificate to such effect to
be sent to the Director of Finance of the City, The Chase
Manhattan Bank, N. A., the American Insurance Company and the
Paying Agents of the City respecting such issue of Bonds.
Section 5. All costs and expense 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 be in effect immediately
upon its adoption.
PASSED AND ADOPTED this 26th day Of NOVEMBER, 1985.
ATTE
MAT HIRAI, CITY CLERK
M A Y 0 R
I
APPROVED BY:
DEPUTY CITY ATTORNEY
APPROV TO AND CORRECTNESS:
LUCIA A. DOUGNERT CITY ATTORNEY
.--
s
CITY OF MIAMI. FLORIDA3
INTER -OFFICE MEMORANDUM
TO: Honorable Mayor & Members DATE: NOV 18 4 tup'.7 IrILE:
of the City Commission
SUBJECT: Agenda Item Lost Bonds
FROM: Sergio Pereira REFERENCES:
City Manager
ENCLOSURES:
It is recommended that the attached
Resolution authorizing the execution and
delivery of certain Storm Sewer Improvement
Bonds, in the principal amount of Sixty
Thousand Dollars to replace lost bonds be
adopted by the City Commission.
The firm of Shearson/American Express, Inc. has provided to the
City a sworn affidavit to the effect that the firm is the owner of
$60,000 principal amount of the City of Miami Storm Sewer
Improvement Bonds, dated March 1, 1985, and that such bonds have
been lost.
An indemnity bond from The American Insurance Company has been
posted in an aggregate amount sufficient to indemnify and save
harmless the City in any way related to the issuance of these
duplicate bonds.
The cost of issuing the duplicate bonds will be born by the bond
holder.
CEG:hb
cc: City Attorney
Ear --112
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The Chase Manhattan Bank, N.A.
1 New York Plaza
New York, New York 10081
04630/FM/6507
0
CHASE
October 31, 1985
Carlos E. Garcia
Director of Finance
Finance Department
Coconut Grove Station
P.O. Box 330708
Miami, Florida 33233-0708
Dear Mr. Garcia:
Re: Miami, Florida
6.250% Storm Sewer Improvement. Bond
Dtd 3/ 1/75 Due 3/ 1/87
Bonds # 341/352 with 9/1/83 and S.C.A.
P/A $5,000 each
E
We enclose for your files, documents submitted to
us to support replacement of the above described
securities previously reported lost, stolen or
destroyed.
These documents are satisfactory to us. If they
meet with your approval, we request that you
furnish us with a letter authorizing us to replace
the subject securities.
2Verruly yo ,
Ana Liverman
Assistant Treasurer
Municipal Servicing operations
Enclosure
CC: Shearson/American Express Inc.
One Western Union International Plaza
New York, New York 10004
Attn: Norma Collazo
Lost Securities Dept. - 17th floor
If
4l
BOND NO. SMR 263 34 63
INDEMNITY BOND
KNOW ALL MEN BY THESE PRESENTS, That The American Insurance Company
a corporation incorporated under the laws of the State of Nev Jersey
having its principal office at 3333 California Street, San Francisco, California, and duly authorized to transact the
business of indemnity and suretyship in the States of California and all states
is held and firmly bound unto City of >Niami, Florida and Cootineutal Illiooig_National Bank
and Trust Company of Cbicasol, and Florida National sank and Trust Company.
and any other individuals, firms and corporations as may now or hereafter be acting as Transfer Agents.
Registrars, Trustees, Depositaries, Fiscal,Paying or Disbursing Agencies, in respect of the securities hereinafter
described. and their respective legal representatives, successors and assigns, as their interest may appear
(hereinafter collectively called the Obligee) in an aggregate sum not exceeding the maximum for which the Surety
may lawfully obligate itself in respect of any single risk, sufficient to indemnify the Obligees, their respective legal
representatives, successors or assigns, as their, interest may appear, to be paid to the Obligees. their respective
legal representatives, successors and assigns as their interest may appear for which payment, well and truly to be
made. The American Insurance Company
binds itself, its successors and assigns firmly by these presents.
SEALED with its seal and executed in t6re6 (3) counterparts this Sth
day of August , 19_-8S•
WHEREAS, Shearson Lehman Brothers, Inc.
Bond 6 Coupoo 341 thru 352 @=5,000. each
represents that ) No.(s> representing
total $609000. Miami City, Florida Storm Sewer Improvement Bond dated 3/1/73, 6.25%
due 3/1/1987 with 9/1/63 coupon 6 S.C,A. Coupon @$156.25aacd was registered in the name of
V
7
- BlaTlr
i
2
and
Bond 6 coupon
WHEREAS, said has or have been mislaid, lost, stolen or destroyed and cannot be found or
produced by virtue of which The American Insurance Company
requests the Obligees to issue a new or duplicate instrument or instruments to _
Shearson Lehman Brothers, Inc.
or pay to Shearson Lebisan Brothers, Inc.
the value of same without surrended thereof for cancellation; and
Page 1
360456-5-78
The American insurance Company
",CAS, has agreed to execute a lost instrument bond or undertaking to indem-
°y the Obligees above named and to hold them harmless from and against any loss arising out of compliance
v.m the foregoing request for issuance of a new or duplicate instrument or instruments; and
':. : i r.iEAS, on the faith of the foregoing representations and in consideration of this Indemnity Bond, the Obligees
nape complied or agreed to comply with said request:
OW THEREFORE, THE CONDITIONS OF THIS OBLIGATION ARE, that if _ The American Insurance
Company its successors or assigns, shall, in case the mislaid, lost. stolen, or destroyed originals be
/mind or come into the hands or power of Shearson Lehman )!bothers, Inc.
-^+rs the hands, custodyof an
or power y person, deliver or cause the same to be delivered unto the Obligees in
craer to be cancelled, and shall also at all times indemnify and save harmless the Obligees from and against any
and all claims, actions and suits, whether groundless or otherwise, and from and against any and all liabilities.
damages, costs, charges. counsel fees and other expenses of every nature and character by reason of the
said mislaid, lost, stolen or destroyed original or originals and/or the issuance of a duplicate or duplicates in lieu
thereof or the paying or crediting of the value of the original or originals and/or the issuance of a duplicate or
in lieu thereof or the paying or crediting of the value of the original or originals without surrender
thereof whether or not caused by, based upon dr arising out of inadvertence, accident, oversight or neglect on the
part of the Obligees or their respective officers, agents, clerks and employees and/or omission or failure to inquire
into. contest or litigate the right of any applicant to receive any payment, credit, transfer, registration, exchange or
_'ive y ;n respect of the original or originals and/or the duplicate or duplicates issued in lieu thereof, and/or
by, based upon or arising out of any other matter or thing whatsoever, then this obligation shall be void;
ointerwise, it shall remain in full force and effect.
THE AMERICAN INSURAFCE COMPArY
Surety
By.
Attorney -In -Fact
COUNTERSIGNED BY:
f4�Lo Go v
rances S. Hanra am
Florida Authorized Resident Agent
Page 2
t
1
�S•1 -11�
360456-5-78
V_
4
rUtE�s rum
777 San Marin Drive
P.O. Box 777
Novato, California 94998
Telephone (415) 899-2000
THE AMERICAN INSURANCE COMPANY
SUMMARY FINANCIAL STATEMENT - DECEMBER 31, 1984
(As Filed with Insurance Department of the State of California)
ASSETS:
*Government Bonds
'State,and Municipal Bonds
*Miscellaneous Bonds
*Stocks
Cash in Banks and Company's Office
Accrued Interest
Premiums in Course of Collection and Other Assets
Total Assets
LIABILITIES, SURPLUS AND OTHER FUNDS:
Loss and Loss Expense Reserve
Unearned Premium Reserve
All Other Claims, Demands and Reserves
Total Liabilities
Capital Paid -up $ 10,501,770.00
Net Surplus 184,235,918.58
Policyholder's Surplus
Total Capital, Surplus and Reserves
'Bonds are stated at Amortized Values
•Stocks are stated at Market Values
State of California ) ss
County of Marin )
$ 357,958,173.54
343,154,551.24
62,894,623.25
155,940,840.95
5,794.72
24,557,528.07
208.723.634.27
1 ,,Z35-146.04
S 718,078,143.22
220,482,976.48
19,936,337.76
958,497,457.46
194,737,688.58
51.153.235.146.04
I, Richard Williams, Vice President of The American Insurance Company, do hereby certify
that the above is a true statement of the assets and liabilities of said Corporation
as of December 31, 1984, taken fr the books and records of said Corporation.
h E '
�* Richard Ili ams, a resient
State of California ) '4N rra'V
County of Marin ) ss
Subscribed and sworn before me, a Notary Public of the State of California, in the
County of Marin, this 25th day of February, 1985.
au�nanauaa�uauumuuanuuamm�
OFFICIAL SEAL
SUSIE K. GILBERT
Ta r0l(uun OAF* CONT
to Mp cww,4k� ts&" no. I1, IM
uunnunuuu,ueuunuuu�uenaunu�nur,a
3d0351 •TA-M
r
otary Public of California
S,awn a
36060 TAB-i•t!
�otrwrua,ion E„pNay Awrch d0, t .. No. 41-405512 — ..
C'1JA''11ed .n Oueer.s Cc:fnry
Co -mission exp1;?5 h'J1Cn ;0, 198S
. •..vrtation duty orFar„fed jnJ e%i%trng under it'.:... u,e o-nty y and Counof Safor
n Fran.�sco. CalJornta has made. cemtttutrd dnJ
16unstsrute and appoint ROBERT R. SCOTT, ROBERT P. ZELLER,
dtKLMr H. WILDER, ROLAND BLACKBURN, ROBERT DISCALA, KAREN MCMULLIN, SUSAN MAHN,
NEW YORK, NY THOMAS B.,BLAISDELL, ZELDA MULTI, BARBARA BAUSER and LAURA CHEUN6
�oi�ltl�r or severally
its true and lawful Attorney(s)•in-Fact, with full power an out Dill hereby con erred to is name, place and stead, to execute. seat, acknowledce and
deliver any and all bonds. undertakings, recognizance% or other written obligations in the nature thereof ---------------------------
and to bind the Corporation thereby as full► and to the same extent as if such hand, were signed b% the President. seated with the corporate seal of the
Corp tratiot. ;mJ duly attested by its Secretary, hereby ratifying and confirming all that the said Atturneytsi-,e-Fact may do in the premise%.
This power of attorney is granted pursuant to Article VIII. Section 30 and 31 of Py-laws of THE AMERICAN INSURANCE COMPANY now in full
forceand effect.
4P1 ni'mment and Authority Assistant secretaries, and Attorney -in -Fact and Agents to accept Lesat Pror_ss and Niake Appearances.
Section 30, Appointment. The Chairman of the Board of Directors, the President, any Vice -President or any other person authorized by the Board of
Directors, the Chairman of the Board of Directors, the President or any Vice -President, may, from time to time, appoint Resident Assistant Secretaries
and Attorneys -in -Fact to represent and act for and on behalf of the Corporation and Agents to accept legal process and make appearances for and on
bt- a:f 0 at Corperation.
Section 31. Authority. The Authority of such Resident Assistant Secretaries, Attorneys -in -Fact, and Agents shall be as prescribed in the instrument
evidencing their appointment, and any such appointment and all authority granted thereby may be rooked at any time by the Board of Directors or by
any person empowered to make such appointment,"
u.:cr of attorney is signed and sealed under and by the authority of the following Resolution adopted by the Board of Director. of THE
AAIE�2ICAN INSURANCE COMPANY at a meeting duly called and held on the 28th day of September, 1966. and said Re%olution hd% not been
amended or repealed:
"RESOLVED. that the signature of any Vice -President. Assistant Secretary, and Resident Assistant Secretar% of thi% Corporation. and the seal of tht%
Corporation. may, be affixed or printed on any power of anorney. on any relocation of an% power of atiorne.. or on dry certificate rescuing thereto. by
facsimile. and any power of attorney. any revocation of an) power of attorney. or certificate hearing such fa:simile signature or fe:%imile scat %hall he
valid and binding upon the Corporation. •
IN WITNESS WHEREOF. THE AMERICAN INSURANCE COMPANY has caused these presents to be NigneJ by u% Vice.Pre%ident.
and its corporate seat to be hereunto affixed this 16th day of January 19 84
Ouse,V THE Atif ERICAti IN'SL R ANCE COMPANY
By
STATE OF CALIFORNIA,
CITY AtiD COl'NTY OF SA4 FRA!YCISCO ss.
,
On this 16 th day of January .19 84 , before me personall% came Richard Williams
to me known, who, being by me duly sworn, did depose and say: that he is Vice -President of THE AMERICAN IULRANCE COMPAN1, tht Ccr,
poration described in and which executed the above instrument; that he knows the scat of said Corporation, that the �eai affixed to the %aiJ in-irume!:e
is such corporate seal; that it was so affixed by order of the Board of Directors or said Corporation and that he sjgn:d his name thereto b% hl,e order.
IN WITNESS WHEREOF. I have hereunto set my hand and affixed my official seal, the day and ) ear herein first above w ritien
�IIt1/IIItI/IIMNIIIIIIIIIta111/t/ttltl/II1a11111//11111�
yam, OFFICIAL SEAL =
a SUSIE K. GILBERT
NOTARY PWLK - CAUFORNIA
_ urn ♦ COUM OF SAN FMCISCO •
My Commission Ettpirts Nov. 17, 1984
�///u/nt/uatlM/It1YMI111a/a111H/IYaa1MMMIaaa1
STATE OF C4LIFORNIA,
ss.
CITY AND COUNTY OF 5A1 FRAtiCISCO
CERTIFICATE
f�, � �__4 >
PoN,.
1, the undersigned, Resident Assistant Secretary of THE AMERICAN INSURANCE COMPASN', a %E%% 1ERSE) Corporation, DO HERERI CF R.
TIFY that the foregoing and attached POWER OF ATTORNE)' remains in full force and has not been retc►,cd; and furthermore than Aroctc %111. tic-.
tions 30 and 31 of the By-laws of the Corporation, and the Resolution of the Board of Directors, set forth in the Po%.er of Attorney, are now in fors%.
Signed and sealed at the City and County of San Francisco. Dated the day of
360711-TA-5-81
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ILLMn. SURPUX AND OTMOt FUNDS:
BNKWA��' .17' • 59,911 S1Q17 Lt1 a amd Leas irsysaa Resserr alb 991,Iim.51
Book �iO.1m.63t.79 Uasar>>rd Premium Reserve 125,347,441.43
.K"lea Die SI,L59.750.31 Au other Galas. Deasuds adda d Rasan39,tXi8,430-k
300,929,313 24 Told LWAIld"
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;. frramiras in Cases of Couscum cad Other As ele IZ1.356 370
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• ZELDA IfRVLTZ
NOTARY PUBLIC. State of New York
i00lO— TAB-4-+1f
picas �Karch 30. 1�1..
No. 24.8058 :50
Qualified in Kirgs_ Co11ntY
Certificate Commission liExpi esed in lVsich 30. 19York 86
_•..�•:__....�.�lvula'eubl;cY . .st^ c+f New York
No. 41-4815512
0ua!-1,ed .n Queers Cc:mty
Commisslan Eup1;es A'.Ircn 50. 1986
.i;C '•5 E. "o11oV �hareina.ter called "uci cnent") , being
sworn, depcses and says:
^hat deponent is of legal age and is a (n) '.--is, J. P.
authorization to sign on behalf of Shearson/American Express, Inc. ,-�•o=''
sole and beneficial owners of said securities ,Yith their office loci t_-'i a': 1
Plestern Union International Plaza, New Ycr):, N.Y. 10004 and that t--,;c
made herein are based upon information, investAgaticn and belief m:4
about 3-29-83
That F irenans Fun :i American Insuran7e Companies insureo Shear: --on,'
Express, In--. under its Bond IIo. 261 31, 63 =or the loss or di sa_rpec _
of securities.
That Shearson/Am 'riran Exl:ress, Inc. receive3'•'iani City Starr.. �e�.•_.
Imareve7an,: Bond stated 3-1 6.257! due 3-1-37 1•:ith 9-1-83 Couron and SCA
valued at 6156.25 e;. -;-. �c`: r ? e :ic . A-84-3`7
registered in the name (s) of BeArer !r _
at their premises located at 1 i•lestern Union International. Plaza,
10004, on or about 1-18-83
That a thorough search of the Offices of Shearson/American Exp•_cc-,
;'-as been conducted and the said certificate(s) cannot now be found.
That except as above specifically stated, &either said securities
interest therein has been sold, assigned, endo;..;ed, transferred, depoci:_.
under any agreement, hypothecated, pawned, pledged for any bank or
loan or otherwise, or disposed of in any manner by or on behalf of said _r
That this affidavit is made and a Bond of Indemnity will be v_iven
purpose of inducing the issuance of a new duplicate certificate(s) in
of and in substitution or in exchange for said lost, stolen or destreyc�_.
securities with our requiring the surrender of the original or the pay=,:
delivery exchange or credit in respect to such original with cur such �_
der.
That if Shearson/American Expresc, Inc. shou_c `_nd, or recover t'.,:
original certificate (s), it will immeuiately s1arren3er the same to• .,,
without requiinc a.iy zcns_deratizn
Deponent N
ThL ns E. "ol log•
Sworn to before me on this 13th Cap. of August
Q2212�
1CnN FERRAiO Si r. /ture of: "'otary Public
NOTARY PUSLIC, State of Now Yak
No. 01FE474792I
0"Wed in Kingo C6,001, ")ENISE J.
FnN-Alt;
CW"' W* 1il" in Now YC Nots,y Pub',c. _ st- �r r;�,v o•t!
Cann�iuion EapNes Mnch30. 19�� No. s 1- i , t b612
G#:n',1,ei .n Ot.e:. .., r'),
C17• rr+issia- Exaf 0; `.'."cn �)J 19t-R