HomeMy WebLinkAboutItem #51 - First Reading OrdinanceJ- - 7
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ORDINANCE NO.
AN ORDINANCE AUTHORIZING THE ISSUANCE
SUBJECT TO THE ELECTION HEREIN PROVIDED
FOR, OF $30,000,000 STORM SE14ER IMPROVE-
MENT BONDS OF THE CITY OF MIAMI, FLORIDA,
FOR THE PURPOSE OF PAYING THE COST OF
STORM SEWER IMPROVEMENTS IN THE CITY OF
MIAMI, INCLUDING THE CONSTRUCTION OF STORM
SEWERS, PUMPING STATIONS AND OUTLETS, CUL-
VERTS OVER OR ENCLOSING STREAMS, WELLS,
OTHER TYPES OF LOCAL DRAINAGE FACILITIES,
THE RELAYING OF ANY DAMAGED STREETS OR SIDE-
WALKS, AND THE ACQUISITION OF ANY NECESSARY
LAND, PROVIDING FOR THE LEVY AND COLLECTION
OF AD VALOREM TAXES TO PAY SUCH BONDS.
BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA:
Section 1. For the purpose of paying the cost of storm sewer
improvements in the City of Miami, Florida (the "City"), including
the construction of storm sewers, pumping stations and outlets,
culverts over or enclosing streams, wells, other types of local
drainage facilities, the relaying of any damaged streets or sidewalks,
and the acquisition of any necessary land, there shall be issued,
under the authority of the Constitution,and laws of the State of
Florida, including particularly the Charter of the City, and the
Municipal Home Rule Power Act (Chapt4r 166 of the Florida Statutes,
as amended), and subject to the election hereinafter provided for
bonds of the City in an aggregate principal amount not exceeding
Thirty Million Dollars, ($30,000,000), such bonds to be issued at
one time or from time
to tiTe and to
mature in the years
and principal
amounts respectively
as follows:
Years after,
Years after
Date or Dates
Principal
Date or Dates
Principal
of Bonds,Amount
of Bonds
Amount
2
$320,000
14
$1,050,000
3
350,000
15
1,160,000
4 i'
390,000
16
1,280,000
5'
430,000
17
1,410,000
0'
480,000
18
1,560,000
7
530,000
19
1,720,000
8
580,000
20
1,900,000
.9
640,000
21
2,100,000
10
710,000
22
2,310,000
11
780,000
23
2,560,000
12
860,000
24
2,820,000
13
950,000
25
3,110,000
CITY COMMISSION
MEETING OF
JAN1 9
OIIDMAa%�E 110
2r,d READING„