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RESOLUTION M0.84' 62S...
A RESOLUTION AWARDING PRUDENTIAL BACHE SECURITIES, INC.
$I , 000, 000 ME FIGHTING, FIRS MVINTIO'N A"
RESCUE FACILITIES BONDS, $18000400 SOUSING
BONDS, $3,000,000 STORM SEWER IMPROVEMENT BONDS And
$7000,000 STREET AND HIGHWAY IMPROVEMENT BONDS.
OF THE CITY OR MIAMI, FLORIDA, AND SETTING FORTH
THE RATES OF INTEREST AND OTHER DETAILS RESPECT-
ING SUCH BONDS, RATIFYING AND APPROVING THE PRE-
LIMINARY OFFICIAL STATEMENT, AND AUTHORIZING
ADDITIONAL PROVISIONS RELATING TO THE ISSUANCE
OF THE BONDS MENTIONED HEREIN, THE FORM THEREOF
AND CERTAIN DETAILS RELATING THERETO.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. That the Commission has ascertained and
determined and does hereby declare that:
(a) In accordance with the provisions of Resolution
No. 84- 601, duly passed and adopted by the Commission on
May 171 1984, a Notice of Sale was published on June 1,
1984, by the Director of Finance calling for sealed bids to
be received until 11:00 o'clock A.M., Miami time, June 14,
1984, for $2,000,000 Fire Fighting, Fire Prevention and
Rescue Facilities Bonds, $181100,000 Housing Bonds, $3,000,000
Storm Sewer Improvement Bonds and $7,100,000 Street and
Highway improvement Bonds of The City of Miami, dated June 1,
1984 (collectively, the 'Bonds"), the publication of which
Notice of Sale on said day in The Bond Buyer (and also on
June 8, 1984), The Miami Review and The Miami News is hereby
ratified and approved.
(b) At the hour stated in said Notice of Sale, bidding
was closed and the following bids were found to have been
filed and to accord in all respects with the terms of said
Notice of Sale, each bid enclosing a certified or bank
cashier's or treasurer's check for $302#000 payable uncon-
ditionally to the order of The City of Miami, Florida:
CITY COMMISSION
MEETING OF
J U N 14 1984
No.
-
'i
i fik,4 1111F, OR
1) gid of PxvIDEN IAL BACHIS SECURV offering
to pay $ 0,3b0,Obt), being far for iaph
four abOv0 ►1entioned series of bonds (Plus'a.
premium of $ 437.20 for all of said bonds)
and accrued interest on all of the bonds from
June 1t 1994 to the date of their delivery,
said bonds bearing interest at the rates set
forth below in Column (1) of the tabulation
headed "INTEREST RATES NAMED IN BIDS".
2)slid of BANKERS TRUST COMPANY offering
to pay $30,200,000, being par for each of the
forr above -mentioned series of bonds (plus'a
,premium of $8.25for all of said bonds) and
accrued interest on all of the bonds from June
11 1964 to the date of their delivery, said
bonds bearing interest at the rates set forth
below in Column (2) of the tabulation headed
"INTEREST,RATES NAMED IN BIDS".
(3) Bid
jf
SOUTHEAST BANK, N.A.
offering
to
pay
$30,2001000, being par
for each of the
four above -mentioned series of bonds (plus a
$45,696.65
premium of $ / for all of said bonds)
and accrued interest on all of the bonds from
June 1, 1984 to the date'of their delivery,
said bonds bearing interest at the rates set
forth below in Column (3) of the tabulation
headed "INTEREST RATES NAMED IN BIDS".
-2-
84-626.
STATED lrlAK'iJAIT128 of bombs lit Vixen it"
8Yt* rightirov
Provontim
maturity w *I"*
Date 9wiiitiea
J 180da .
1�si�g st P w ftntr
street WA
trentPrincipal
1986
i "0-
S 295,000
85,000
0-
300400
1987
200,OOO
295,000
95.000
2f AO
$000,000
1998
,, 190#000
295,000
100,000
225,000
9100000
1989
18081000
2951V000
MOW
240,000
825,000
1990
170,000
295,000
120,000
255,000
640,000
1991
1600,000
365,000
115,000
275,000
9150000
1992
150#000
365,000
125P000
290,000
•� 930400
1993
140t000
365,000
130,000
315,000
950400
1994
130400
365,000
15001000
335,000
9801,000
1995
120,000
360400
150400
360400
9901,000
1996
MAN
505,000
155400
385,000
10550000
1997
100,000
5051000
170,000
410,000
10,1850,000
1998-
90,000
505,000
175,000
440,000
1,210,000
1999
80,000
505,000
185,000
470,000
1,240,000
2000
300,000
SO5,000
205,000
500,000
1470,000
2001
50,000
6501,000
220400
535,000
1,455,OOO
2002
WAN
MAN
230,000
575,000
1,485,000
2003
20,000
650,000
235,000
MAN
1420,000
2004
20,000
MAW
245,000
665,000
1480,000
2005
650,000
650,000
2006
865,000
865,000
2007
865,000
865400
2008
865,000
665,000
2009
865000
665000
2010
Seem
865400
2011
1,080,000
1,080,000
2012
1,080,000
i,080,000
2013
1,235,000
1,235,000
2014
1,310,000
1,310,000
INTEREST RATES NAMED IN BIDS
Interest Rates Columns
Year of
AI-TURITY
(1)
(2)
1986
11.50%
11.70%
12.125%
1987
11.50
11.70
12.125
1988
11.50
11.70
12.125
1989
11.50
11.70
12.125
1990
11.50
11.70
12.125
1991
11.50
11.70
12.125
1992
11.50
11.70
12.125
1993
11 .50
11 .70
12.125
1994
11.50
11.70
12.125
1995
10.50
9.75
10.125
1996
9.60
9.70
10.125
1997
9.80
9.80
10.125
1998
9.90
9.90
10.125
1999
10.00
10.00
10.20
2000
10.00
10.00
10.25
2001
10.10
10.10
10.30
2002
10.20
10.10
10.35
2003
10.25
10.20
10.40
2004
10.25
10.25
10.40
2005
10.30
10.25
10.45
2006
10.30
10.30
10.45
2007
10.30
10.30
10.50
2008
10.40
10.40
10.50
2009
10.40
10.40
10.50
2010
10.40
10.40
10.50
2011
10.40
10.50
10.50
2012
10.40
10.50
10.60
2013
10.40
10.50
10.60
2014
10.40
10.50
10.60
-3-
e4-s28, ..
T •, election 2 i That the bid • offering to ' put eh&86 ' said
bonds at the lowest effective interest coat to, the •City'-
such cost being determined in accordance with the "Cahadian"
or "true" interest cost method of calculation by doubling
the semi-annual interest rate (compounded semi-annually)
necessary to discount the debt service payments from the
payment dates to the date of the Bonds and to the price bid,
not including interest accrued to the date of delivery, was
PRUDENTIAL
the bid of BACHE (herein called the "Awardee")
SECURITIES, INC.
offering to pay $30,200,000, being par for each of the four
above -mentioned aeries of bonds, plus a premium of $ 437.20
for all of said bonds, and accrued interest on the bonds
from'June 1, 1984 to the date of their delivery, and naming
for the bonds the interest rates set forth in Column ( 1 )
of the tabulation in Section 1 above.
Section 3. That said bid of the Awardee is hereby
accepted and said $21000,000 Fire Fighting, Fire Prevention
and Rescue Facilities Bonds, $18,100,000 Housing Bonds,
$3000000 Storm Sewer Improvement Bonds and $7,100,000
Street and Highway Improvement Bonds of The City of Miami
are hereby awarded to the Awardee at.the price set forth
in Section 2 above offered for said bonds bearing interest
at the rates set forth in Column ( 1 ) of the tabulation
in Section 1 above, and said -bonds shall bear interest at
said rates.
Section 4. That the checks of unsuccessful bidders
shall be returned immediately.
Section 5. There shall be printed on the reverse of
each of said bonds the legal opinion of Brown, Wood, Ivey,
Mitchell & Petty and Broad and Cassel•, Co -Bond Counsel,
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84--526,..
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Aft
respecting the validity of said bonds And, i ediately
folio41ng'4u6h legal opinion# a eertifiCAte signed With
the facsimile signature of tbo City Clerk substantially
as follavat
"I HEREBY CERTIFY that the foregoing is a
true and oorreft copy of the legal opinion
upon the bonds therein described which
was manually signed by Brown, Wood, Ivey,
i Mitchell i Petty, New York, N.Y., Bond Counsel,
and Broad and Cassel. Miami, Florida, Co -
Bond Counsel, and was dated as of the date of
delivery of and payment for said bonds.
•.........,..(Facsimile Signature)..........,
City Clerk of The City of Miami, Florida."
Section 6. COSIP numbers will be printed on such bonds.
The validity, sales delivery'or acceptance of the bonds will
not be affected in any manner by any error in printing the
COSIP numbers on said bonds, or any of them.
Section 7. That the Commission has ascertained and
determined and does hereby declare that in accordance
with the provisions of Resolution No. 84- 600 duly passed
and adopted by the Commission on May 17, 1984, a Preliminary
Official Statement, dated June It 1984, was issued with
such changes therein from the form of such document submitted
to the Commission at its meeting of May 17, 1984 as were
approved by the Director of Finance, the issuance of such
Preliminary Official Statement with such changes is hereby
ratified and approved.
Section S. That the Commission has ascertained and de-
termined and does hereby declare that:
(a) The issuance of the Bonds, the form -thereof
and certain details relating thereto were authorized by
the following resolutions and ordinances: Resolution
No. 81-1020, as amended, Ordinance No. 9406, as amended;
Resolution No. 76-1104, Ordinance No. 85141 Resolution No.
78-216, Ordinance No. 6736; Resolution No. 80-774, Ordinance
No. 9129 (collectively, the "Authorizing Resolutions and
Ordinances` �
-5-
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(b) In order to have the interest on thebond#
be exempt.ifom federal income taxation and to assist
the marketing of the bonds under current market condi-
tions# it is necessary to authorize certain additional
provision* regarding the issuance of the fonds, the
form thereof and certain details relats.ng thereto,
all as provided in Section 9 hereof.
section 9. That the Commission has ascertained and
determined and does hereby declare that:
(a) Details of Bonds issued on or after July 1
1983. Thtalls of Bons Lasuedr an3 any other
dBUgations to be issued pursuant to the authorizing
Resolutions and Ordinances, on or after July 1,
1983 shall be substantially the same as the details
of Bonds described in the Authorizing Resolutions
and Ordinances, except:
(1) Such Bonds shall be issued only as fully registered
Bonds in the denominations of $5,000 or any integral multi-
ple thereof;
(2) The principal of such Bonds shall be payable
upon the presentation and surrender of such Bonds as the
same shall become due at the principal office of,the Bond
Registrar and Paying Agent (as described in the Preliminary
Official Statement);
(3) Interest on any such Bond which is payable, and
is punctually paid, or for which payment: is duly provided
for, on any interest payment date on the Bonds shall be
paid to the person in whose name the Bond is registered
in the registration books provided for in Section 9(c)
hereof (the "Owner") at the close of business on the 15th
day of the month preceding an interest payment date (the
"Regular Record Date");
(4) Any interest on any such Bond which is payable,
but is not punctually paid, or for which payment is not
duly provided for, on any interest payment date (herein
called "Defaulted Interest") shall forthwith cease to be
payable to the Owner on the relevant Regular Record Date
solely by virtue of such Owner having been such Owner; and
stich Defaulted Interest may be paid by the City, at its
election in each case, as provided in Subsection A or B
below:
A. The City may elect to make payment of any
Defaulted Interest on the Bonds to the persons in
whose names such Bonds are registered at the close
of business on a special record date (the "Special
Record Date") for the payment of such Defaulted Interest,
which shall be fixed in the following manner. The
City shall notify the Bond Registrar in writing of
the amount of Defaulted Interest proposed to be paid
on each Bond and the date of the proposed payment
(which date shall be such as will enable the Bond
Registrar to comply with the next sentence hereof),
and at the same time the City shall deposit or
-6-
e��szs.
cause to be deposited with the Bond Registrar
an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted
Innterest or shall make arrangements satisfactory to the
Bond Registrar for such deposit prior .to the date of
the proposed payment, such money when deposited to be
held in trust for the benefit of the persons entitled
to such Defaulted Interest as in this Subsection
provided. Thereupon the Bond Registrar shall fix a
Special Record Date for the payment of such Defaulted
Interest which shall be not more than 15 nor less than
10 days prior to the date of the proposed payment and
not less than 10 days after the receipt by the Bond
Registrar of the notice of the proposed payment. The
Bond Registrar shall promptly notify the City of such
Special Record Date and, in the name and at the expense
of the City, shall cause notice of the proposed
payment of such Defaulted Interest and the Special
Record Date therefor to be mailed, first-class postage
prepaid, to each Owner at his address as it appears in
the registration books provided for in Section 9(c)
hereof not less than 10 days prior to such Special
Record Date. The Bond Registrar may, in its discretion,
in the name and at the expense of the City, cause a
similar notice to be published at least once in a
daily newspaper of general circulation published in
the City, and in a daily newspaper of general circu-
lation or in a financial journal published in the
Borough of Manhattan, City and State of New kork,
but such publication shall not be a condition precedent
to the establishment of such Special Record Date.
Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having
been mailed as aforesaid, such Defaulted Interest
shall be paid to the persons in whose names the Bonds
are registered on such Special Record Date and shall no
longer be payable pursuant to the following Subsection B.
B. The City may make payment of any Defaulted
Interest on the Bonds in any other lawful manner not
inconsistent with the requirements of any securities
exchange on which such Bonds may be listed and upon
such notice as may be required by such exchange, if,
after notice given by the City to the Bond Registrar
of the proposed payment pursuant to this Subsection,
such payment shall be deemed practicable by the Bond
Registrar.
Subject to the foregoing provisions of this Section,
each Bond delivered upon transfer of or in exchange for
or in lieu of any other Bond shall carry all the rights
to interest accrued and unpaid, and to accrue, which were
carried by such other Bond and each such Bond shall bear
interest from such date, that neither gain nor loss in
interest shall result from such transfer, exchange or
substitution;
(5) Such Bonds shall have endorsed thereon a certifi-
cate of authentication substantially in the form set forth
in Section 9(b) hereof. No such Bond shall be valid or become
obligatory for any purpose unless and until such certificate
-7-
84-62�.
of authentication on such Mond shall have been duly executed
by the -Bond Registrar# and such certificate of the Bond
Registrar upon any Such Bond shall be conclusive evidence
that such Bond has been duly authenticated and -delivered
under this Resolution. The bond Registrar's certificate
of authentication on any Bond shall be deemed to have
been duly executed if signed by an authorized signatory
of the Bond Registrar# but it shall not be necessary that
the same signatory sign the certificate of authentication
on all of the Bonds that may be issued at any one time.
(b)
Bonds
after July _r 3. a Bonds issued, and any otner
obligations to �6'e 'issued pursuant to the Authorizing
Resolutions and Ordinances, on or after July 1, 1983
and the endorsements to be printed thereon shall be
substantially in the following forms:
Noe 669660 [Form of Face of Bond]
United States of America
State of Florida
County of Dade
The City of Miami
[Title of Series of Bonds]
Maturity Date Interest
. .. ... . .. . . . . . .. .. . . .
Cusip
The City of Miami, in the County of Dade? State of Florida
(the "City"), is justly indebted and for value received
hereby promises to pay to
..............................
or registered assigns or legal representative on the Maturity
Date specified above (or earlier as hereinafter referred to),
upon the presentation and surrender hereof, at the principal
office cf.................................. in the City of
................................................. (the "Bond
Registrar"), the principal sum of
THOUSAND DOLLARS
and to pay to the registered owner hereof, by check
draft mailed to the registered owner at his address
appears on the bond registration books of the City
the above office of the Bond Registrar) interest on
principal sum from the date hereof or from
1 next preceding the date of authentication to
merest shall have been paid, unless such date of
cation is a 1 or 1 to which interest
have been paTa—, n-which case from such date, such
- B-
or
as it
(kept at
such
1 or
which
authenti-
shall
Interest to the maturity hereof being payable on 1
and 1 in each yearn commencing� ►
at the —'rate per annut specified above," u e3i payment of ouch
principal sum. the interest so payable and punctually paid,
or duly provided for# on any such interest payment date will
be paid to the person in whose name this bond is registered
at the close of business on the Regular Record Date for such
interest, which shall bethe 15th day (whether or not a
business day) of the calendar month next preceding such
Interest payment date. Any such interest not so punctually
paid or duly provided for shall forthwith cease to be
payable to the registered owner on such Regular Record
Dater and may be paid to the person in whose name this
bond is registered at the close of business on a Special
Record Date for the payment of such defaulted interest to
be fixed by the Bond Registrar, notice whereof being given
to the owners not less than 10 days prior to such Special
Record Date, or may be paid at any time in any other lawful
manner not inconsistent with the requirements of any secu-
rities exchange on which the bonds may be listed and upon
such notice as may be required by such exchange, or as more
fully provided in the resolution under which this bond is
issued. Such payment of interest shall be by check mailed
to the owner at his address as it appears on the bond
registration books of the City# kept by the Bond.Registrar.
All such payments shall be made in such coin or currency of
the United States of America as at the time of payment is
legal tender for payment of publiic and private debts.
ADDITIONAL PROVISIONS OF THIS BOND ARE SET FORTH
ON THE REVERSE HEREOF AND SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF SET FORTH HERE.
This bond shall not be valid or become obligatory
for any purpose or be entitled to -any benefit or security
under the resolution mentioned hereinafter until this bond
shall have been authenticated by the execution by the
Bond Registrar of the certificate of authentication endorsed
hereon.
IN WITNESS WHEREOF, The City of Miami has caused
this bond to be signed by its Mayor by his facsimile signature
and by its City Clerk., and a facsimile of the official
seal of the City to be imprinted hereon, all as of the
.... day of ....0060#19.60
(Seal)
-9-
THE CITY OF MIAMI
(Facsimile signature]
Mayor
City Clerk
1
84-626_
Rr7
•x t � �,� 5 (� w
dTATIMM OF VALIDATION
. This -,Whd is "cite, of a . series , of bonds `Which vets
validatiid `by 3eftient cif the Circuit court f6i bind"
Counterl, rendered, on
OaRTIPlCi1TB OF AUTB9I1TICATiON
This bond is' one of the Bonds of the series designated
herein and issued under the provisions of the within"
mentioned resolution.
Bond Registrar
Hy
Authorized officer
Date of authentication: ...........
[Form of Reverse Side of Bond]
United States of America
State of Florida
County of Dade
The City Of Miami
[Title of Series of Bonds]
This bond is one of a duly authorized issue of bonds
of the City issued under the authority of and in full
compliance with the Constitution and laws of the State of
Florida, including the Charter, as amended, of the City
(Chapter 10847, Special Laws of Florida, 1925, as amended),
and pursuant to ordinances and resolutions, including.
Resolution No. 84- _ (the "Resolution") duly adopted by
the City Commission of the City, for the purpose of
. The bonds of this issue were
duly approved by vote of a majority of the qualified electors
of the City voting thereon.
(Here insert redemption provisions, if any)
At least thirty (30) days but not more than sixty (60)
days before the redemption date of any Bonds to be redeemed,
whether such redemption be in whole or in part, the City
-10-
.
t
Nil
a; ,
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i'
Yd
Xnall oaUne a notice 02 such redemption to be is W rn
bo4ltegistraits, wailed, first Class pdatage orepaia, eto
all registered ownere of Bonds to'be trade*"d in Nhole
or in part at their lest addresses appearing upon the
registration books of the City as of the date e5 drys
prior to the date fixed for redemption and pubiieaed•at
least once in a newspaper of general circulation in the
City and in a financial newspaper or journal published in
the Borough of Manhattan. City and State of New York. The
failure to mail such notice to any registered owner or any
defect in such notice shall not affect the validity of the
proceedings for the redemption of the Bonds of any other
registered owner. On the date fixed for redemption, notice
having been given as aforesaid, the Bonds or portions
thereof so called for redemption shall be due and payable
at the redemption price provided for the redemption of
such Bonds or portions thereof on such date and, if moneys
for payment of such redemption price and the accrued
interest are held by the Bond Registrar, interest on the
Bonds or the portions thereof so called for redemption
shall cease to accrue. If a portion of this bond shall
be called for redemption, a new bond or bonds in principal
amount equal to the unredeemed portion hereof will be
issued to the registered owner hereof or his legal represent-
ative upon the surrender hereof.
The Bonds are issuable as fully registered bonds in the
denomination of $5,000 or any integral multiple thereof. At
the principal office of the Bond Registrar, in the manner
and subject to certain conditions provided in the Resolution,
Bonds may be exchanged for an equal aggregate principal
amount of Bonds of the same maturity, of authorized denomina-
tions and bearing interest at the same rate.
-11-
.x'xFi:
�ry7
'tom
_ r�4
'rhe Bond Registrar shall keep at its principal office
the books of the City for the registration of and for
the registration of transfers of Bonds. The transfer of
this bond may be registered only upon such books and as
otherwise provided in the Resolution upon the surrender
hereof to the Bond Registrar together with an assignment
duly executed by the registered owner hereof or his attorney
or legal representative in such form as shall be satisfactory
to the Bond Registrar. Upon any such registration of
transfer, the Bond Registrar shall deliver in exchange for
this bond a new Bond or Bonds, registered in the name of the
transferee,,of authorized denominations, in an aggregate
principal amount equal to the unredeemed principal amount of
this bond, of the same maturity and bearing interest at the
same rate.
The Bond Registrar shall not be required to exchange or
register any transfer of this bond after this bond has been
selected for redemption.
2t is hereby certified and recited that all acts,
conditions and things required by the Constitution and laws
of the State -of Florida to happen, exist and be performed
precedent to and in the issuance of this bond have happened,
exist and have been performed in due time, form and manner
as so required; that the total indebtedness of the City,
including this bond, does not exceed any constitutional
or statutory limitation thereon; and that provision has
been made for the levy and collection annually of an ad
valorem tax upon all taxable property within said City,
over and above all other taxes authorized to be levied by
the City sufficient to.pay the principal of and the interest
-12-
8 4"P62E
ohr . th i*1 b6ftd ° at the a"t , t06'Poet ivaly rhall
and payable*
fit$ IOMMINT
FOR V'lr► U9 REC*IVED the undersigned hereby sellai;
assighs" and transfers unto.........................•.......
............................................................
tie within bond and all rights thereunder, and hereby
irrevocably constitutes and appoints .•••••••••.•••�••�•••s•
.......•.......... attorney to register the transfer of the
within bond on the books kept for registration thersof.with
full power of substitution in the premises.
Dated: ......................
TI E: The signature to this assignment
must correspond with the name as it appears
on the face of the within bond in every
particular, without alteration or enlarge-
ment or any change whatever.
Signature Guaranteed:
NOTICE: SIgnatures must be guaranteed by a
member firm of the New York Stock Exchange
or a commercial bank or a trust company.
(c) Exchange and Registration of Transfer of
Bonds issue on or after July 1 1983. The Bon
Registrar shall eep booka for the registration,
exchange and registration of transfer of Bonds as
provided in this Resolution. The Bond Registrar
evidences acceptance of duties, obligations and
responsibilities of Bond Registrar by manual execution
of the certificate of authentication on each bond
described in Section 9(b) of this Resolution.
Bonds, upon surrender thereof at the principal office
of the Bond Registrar, together with an assignment duly
executed by -the registered owner or his attorney or legal
representative in such form as shall be satisfactory to
the Bond Registrar, may, at the option of the registered
owner thereof, be exchanged for an equal aggregate principal
amount of Bonds of the same series and maturity, of any
denomination or denominations authorized by this Resolution,
beating interest at the same rate, and in the same form
as the registered Bonds without coupons surrendered for
f exchange.
-13-
84-62E;
K
The City shall make provision for the exchange of
the Bohds at the ptihdiphl office of the Bond le+gi9ttaY:
The transfer of any Bond may be registered only `tpOh
the books kept"for the registration and registration of
transfer of Bonds upon surrender thereof to the Bond Registrar
together with an assignment duly executed by the registered
owner or his attorney or legal representative in such form
as shall be satisfactory to the Bond Registrar. Upon any
such registration of transfer the City shall execute and the
Bond Registrar shall authenticate and deliver in exchange
for such Bond a new Bond or Bonds, registered in the name
of the transferee, of any denomination or denominations
authorised by this Resolution in an aggregate principal
amount equal to the principal amount of such Bond surrendered
or exchanged, of the same Series and maturity and bearing
interest at the same rate.
In all cases in which Bonds shall be exchanged or the
transfer of Bonds shall be registered hereunder, the City
shall execute and the Bond Registrar.shall authenticate
and deliver at the earliest practicable time Bonds in
accordance with the provisions of this Resolution. All
Bonds surrendered in any such exchange or registration of
transfer shall forthwith be cancelled by the Bond Registrar.
No service charge shall be made for any registration,
transfer, or exchange of Bonds, but the City and.the Bond
Registrar may require payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in
connection with any transfer or exchange of Bonds. The Bond
Registrar shall not be required to transfer or exchange any
Bond after such Bond has been selected for redemption.
(d) Temporary Bonds. Until definitive Bonds of
any series-IssuedserLes-Issued on or after July 1, 1983 are ready
for delivery, there may be executed, and upon request
of the City, the Bond Registrar shall authenticate and
deliver, in lieu of definitive Bonds and subject to the
same limitations and conditions, typewritten, printed,
engraved or lithographed temporary Bonds, in the form
of fully registered Bonds in the denomination of Five
Thousand Dollars ($5,000) or any integral multiple
thereof, substantially of the tenor of the Bond set
forth in this Resolution and with such appropriate
omissions, insertions and variations as may be required.
Until definitive Bonds are ready for delivery, any
temporary Bond may, if so provided by the City by
resolution, be exchanged at the principal office of the
Bond Registrar, without charge to the owner thereof, for
an equal aggregate principal amount of temporary fully
registered Bonds of like tenor, of the same Series and
maturity and bearing interest at the same rate.
If temporary Bonds shall be issued, the City shall
cause the definitive Bonds to be prepared and to be executed
and delivered to the Bond Registrar, and the Bond Registrar,
upon presentation to it at its principal office of any tem-
porary Bond, shall cancel the same and authenticate and deliver
in exchange therefor at the place designated by the owner,
without charge to the owner thereof, a definitive Bond or
-14-
84-628
Bonds of an equal aggregate principal amount, of the same
maturity and Series and bearing interest at the same rate as the
temporary bond surrendered. Until so exchanged, the temporary
bonds shall in all respects be entitled to the same benefit
and security of this Resolution as the definitive Bonds
to be issued and authenticated hereunder.
(e) Mutilated DestroyedDestroyed# Stolen or post Bonas.
In case any '-Wnd issuedon or after July it 1953 hereby
shall became mutilated or be destroyed, stolen or lost,
the City shall cause to be executed, and the Bond
Registrar shall authenticate and deliver, a new'Bond of
like date and tenor, in fully registered form, in
exchange and substitution for and upon the cancellation
of such mutilated Bond or in lieu of and in substitution
for such Bond destroyed, stolen or lost, and the owner
shall pay the reasonable expenses and charges of the
City and the Bond Registrar in connection therewith
and, in case of a Bond destroyed, stolen or lost, the
Holder shall file with the Bond Registrar evidence
satisfactory to it and to the City that such Bond was
destroyed, stolen or lost, and of his ownership thereof,
and shall furnish the City and the Bond Registrar
indemnity satisfactory to them.
(f) Redeml2tion Notice. with respect to any Bonds
issued after July i, T983r at least thirty (3.0) days
before the redemption date, a notice of any such
redemption, either in whole or in part, shall be
published at least once in a daily newspaper of general
circulation in the City and in a financial newspaper or
journal published in the Borough of Manhattan, City and
State of New York and shall be mailed, first class
postage prepaid, to all registered owners of Bonds to
be redeemed at their addresses as they appear on the
revistration books hereinabove provided for, as of the
date forty-five (45) days prior to such redemption
date, but failure so to mail any such notice to any
registered owner or any defect in such notice shall not
affect the validity of the proceedings for the redemp-
tion of the Bonds of any other registered owner. Each
such notice shall set forth the date fixed for redemp-
tion, the redemption price to be paid and, if less than
all of the Bonds of a Series then outstanding shall be
called for redemption, the numbers of such Bonds.
Section 10. To the extent that there shall be a
conflict between any provision of this Resolution and any
provision of the Authorizing Resolutions and Ordinances,
the provision of this Resolution shall. govern in all instances.
-15-
84-62E
777
7
'
r
y Station 11. This tesoiution shall
be in full force and
effect immediately upoti its passages
,;..
PASSED AND ADOPTED this 1,4th aaY of June 1964.
our ce erres
EST:
n9 141• ty r
PREPARED AND APPROVED BY:
�f
Deputy y.Attorney
APPROVED AS TO POW AND CORRECTNESS:
/I �
s-eR. Garc a -Pe rosar ty Attorney
-16-
i
84- 626L
,STATE or FLORIDA
COMM OF DADE
CITY or Mimi
-1 `0110
wN
RALPS G. ONGIEp Clerk Of the City Of Miami#.
Florida, and keeper of the records thereof, do hereby
certify that the attached and f . oregoing pages numbered
to t inclusive, contain a true and correct copy Of a
resolution adopted by the City Of Miami Commission at a
meeting held on the .. 'day of 1984.
SAID RESOLUTION WAS DESIGNATED RESOLUTION NO.
•
WITNESS My HAND and the official Seal Of the City Of
Miami, Florida, this ___ day of _ , . r 1984.
(OFFICIAL SEAL)
LPH G. ONGIE
CITY CLERK
CITY OF MIMIJ, F"ORIDA
84-62&
SOME or gLONtIDA
or WE
CITY OF MIAMI
yi, s
s
yx
i
i{
RALFH G. ONGYE, Clerk of the City of MiaMir
�-
Florida, and keeper of the records thereof, do hereby ' •_
foregoing pages numbered
certify that the attached and fore g
to -r
inclusive, contain a true and correct copy of a ;I
City of Miami Commission at a
resolution adopted by the
meeting held on the __
day of _—� 1984. �
SAID RESOLUTION WAS DESIGNATED RESOLUTION N0. •
WITNE SS MY HAND and the Official Seal of the City of
1984.
Miami, Florida, this
day of ,
Rp,LPH G. ONGIE
CITY CLERK FLORIDA
CITY OF MIAMI,
(OFFICIAL SEAL)
•� �� , � ,}•` •�`',Y+_f .,�ST�' _ :iq „ .•..�j ••_ 'r,-., � .;jay -
-—
:'a'it.....—
S
f S r }p
?P -
4.
.t
tLL x.
x}.
Ir.
av-
--------------
I •
CITY OF MIAMI• FLORIDA�
4 INTER -OFFICE MSIAORANDUM • • ATTACHMENT
i
April 25; 19.84 '
l TO.
Randolph Rosencrantz DATE: FILE; ►
Assistant City Manager
SUBJECT: Projects to be funded
with 184 Bond Sale
!4
Carlos E. Garcia REFERENCES,
FROM, Director of Finance
ENCLOSURES:
tF
Proceeds of the 1984 - $30.2M G.O.. Bond Sale are projected to be
as follows:
Housing Bonds
Affordable Housing
Overtown Park West
Streets & Highways
City Wide Paving
Design Plaza
Manor Highway Improvement
S.W. 27th Avenue
Allapattah Industrial Area
Grand Avenue Sidewalk
Overtown Highway
E. Little Havana Highway
S.W. 16th Street Highway
Overtown Parkwest
Storm Sewers
Flagler Storm Mods.
Local Drainage E-54
Riverview P.S. Mods.
Orange Bowl P.S. Mods
Manor
Shenandoah
LeJeune Station
Fire Bonds
New Communications System
Total
$ 7,0009000
11 100 Aoo
0
0
$ 250,000
5009000
700 , 000
70,000
1,000,000
2009000
400,000
1,000,000
8809000
2.100,000
7,100,000
200,000
800,000
50,000
100,000
600 , 000
420,000
830,000
,000 ,000
21000,000
$ 30,200,000
84"'626 .
ii1F
.� /t 1,Y§d
t ` z � ��„['�u,•yr^t���wr4t��'� val t ri7 Y# �v, � } c,� � ,,'� t .
z :4:
ATI'AMMT
G. 0. Bonds
Authorized & Is:
Date
Purpose
L.---
AMT
Issued
Balence
6/30/70
Highways
$ 81,475,000
$ 759100,000'-
$69375,000a
Pollution Control
9/28176
Sanitary Sewers
25000,000
10:000,000
22,000,000
10,000,000
3,000,000
-0-
Fire
•
-3/9/76
Housing
251-000,000
61900,000
.18,1009000
3/T/78
Storm Sewer
15,000,000
12,000,000
3,0009000
10/7/80
Sanitary Sewer
45,000,000
30,000,000
-0-
61000,000
24,000,000
24,000,000
Streets
11/3/81
Fire
21,000,000
81000,000
1390009000
3/12/84
Police
Sewer
20,OOA,000
30 00:� 000
-0-
0-
—140,
20,000,000
30 000 000
0
tea
'
1 ,
3 ,
'
*Interest limit of 7%
84���.
TO: Howard V. Garp
City Manager
FROM: Carlos E. Garcia
Director of Finance
C&y oir MIAMI. FLt P11115 l
IN-Tg"*0ritiCE MEMORANDUM
DATE: May 31 , 1984 MLt+ + _
suenCT: Agenda Item for Meeting -_
of June 149 1984 Bond _
Sale Award
REFERENCES:
ENCLOSURES:
it is recommended that the attached
resolution awarding $21000,000 Fire
Fighting, Fire Prevention, and
Rescue Facilities Bonds; $189100,000
Housing Bonds; $3,000,000 Storm Sewer
Improvement Bonds, and $711009000 High-
way Improvement Bonds, of the City of
Miami, Florida and setting forth the
rates of interest and other details
respecting such bonds.
As approved by Resolution 84-601, adopted by the City Commission
on May 24, 1984, the competitive sale of $30,200,000 general
obligation bonds, this resolution awards the bonds and sets forth
the rates of interest and other details respecting such bonds.
iThis item is recommended to be scheduled at 12:45 p.m. on June 140
I
j 1984.
cc: Law Department
84-628 .
- _,�>- ..�_�Y ter:. :ram ��aiy; ;w€.:•,-� - ..
'S'FJ�,;
i s
� 1
TO: Howard V. Gary
City Manager
FROM• Carlos E. Garcia
Director of Fina
�7
City OF MIAMI. FLORIDA
INIRAOF�i � Mr.MORAMOUM
TE:
May, 31 , • 1984 "Le:
DAM
SUOJECT, Agenda Item
REFERENCES:
ENCLOSURES:
It is recommended that the attached resoltion
awarding $2,000*000 Fire Fighting,
tion and Rescue Facilities Bonds; $18,1009000
mrove-
Housing Bonds; $390009000 Storm Sewer rovement
went Bonds, and $7,100,000 Highway impion.
Bonds, be approved by the City
' a competitive sale of $30,200,000 general obligation bonds was
The Commission on
approved by Resolution 84-601d by the City
,
adopted
4 1984This resothe bonds and sets forth the
lution awards
May 24, • 1 such bonds. I rates of interest and other details respecting
.m., on June
This item is recommended to be scheduled at 12:45 p have
14, 1984, when underwriter's bids received in the morning,
been properly verified by the City Manager.
cc: City Attorney