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RESOLUTION NO, ._ � � �._�_� � 0
r
A RESOLUTION PROVIDING FOR THE ISSUANCE OF NOT
F
EXCEEDING W 000,000 FIRE FIGHTING, FIRE PRE-
VENTION AND RES= FACILITIES BONDS OF THE CITY
OF MIAMI, FLORIDA E
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The Commission of the City of Miami (herein-
after sometimes called the "City Commission") has found and
determined and does hereby declare that:
(a) on July 23, 1981, the City Commission duly
passed and adopted Ordinance No. 9296 authorizing the
issuance, subject to the election therein provided for, of
not exceeding $21,000,000 principal amount of bonds of The
City of Miami, Florida (herein called the "City"), for the
purpose of paying the cost of fire fighting, fire prevention
and rescue facilities, including the construction and
reconstruction and improving of fire stations in the City of
Miami, administration building, other structures, equipment,
vehicles and communication systems related to the training,
administration and operations of the Fire Department in the
City of Miami and the acquisition of any necessary land and
equipment related thereto; and said Ordinance provides for
submitting, at the election held November 3, 1981, to the
- qualified electors of the City authorized by law to participate
in such election the question of whether such bonds should
be issued;
(b) on July 23, 1981, the City Commission duly
passed and adopted Ordinance No. 9295 providing for the
holding on November 3, 1981 of the bond election, authorized
by said Ordinance No. 9296, to submit to the qualified
electors of the City the Question of issuing said bons �f--
Cffy COMMISSION '
MEETING OF
DEC I 0 A981
1 soumon 0&....81-1 20
the City in a principal amount not exceeding $2i,000,000. q
I
The City Coiyttnission on September 10, 1981 duly passed and
adopted Resolution No. 81-776 declaring that it was the
intention of the City Commission to adopt said Ordinance No.
9296 prior to the adoption of said Ordinance No. 9295, thus
prescribing and ratifying the proper sequential order of the
adoption of such ordinances;
(c) notice of said bond election was duly published
in the manner and for the time required by law, including
the Charter hereinfafter mentioned, and inspectors and
clerks of election were duly appointed and their names
published as required by law;
(d) said election was duly and properly conducted
in accordance with law and said ordinances at the time and
places appointed therefor, every qualified elector of the
City was given the opportunity of voting for or against the
issuance of said bonds and the returns thereof were duly and
regularly certified; and
(e) at a meeting duly held on November 11,
1981 the City Commission duly canvassed the returns of said
bond election and caused the same to be recorded, and
adopted Resolution No. 81-923 in which the City Commission
found, determined and declared, among other things, that the
issuance of not exceeding $21,000,000 principal amount of
bonds of the City authorized by Ordinance No. 9296 was
approved by the vote of a majority of the qualified electors
of the City voting thereon.
Section 2. For the purpose of paying the cost of
fire fighting, fire prevention and rescue facilities,
including the construction and reconstruction and improving
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of fire stations in the City, administration building, other
structures, equipment, vehicles and communication systems
related to the training, administration and operations of
the Fire Department in the City and the acquisition of any
necessary land and equipment related thereto as provided in
said Ordinance, there shall be issued under 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), bonds of the City in an aggregate principal
amount not exceeding Twenty-one Million Dollars ($21,000,000),
to be designated "Fire Fighting, Fire Prevention and Rescue
Facilities Bonds" (hereinafter called the "bonds") and to
consist of 4,200 bonds of the denomination of $5,000 each.
Section 3. Said bonds shall be issued at one time or
from time to time, shall be dated the 1st day of any calendar
month and shall be sold as the City Commission shall here-
after determine and shall mature in the years and in the
principal amounts, respectively, as follows:
YEARS AFTER
PRINCIPAL
YEARS AFTER
PRINCIPAL
DATE
AMOUNT
DATE
AMOUNT
2
$350,000
11
$ 900,000
3
400,000
12
11000,000
4
450,000
13
11150,000
5
500,000
14
1,300,000
6
550,000
15
1,450,000
7
600,000
16
11600,000
8
700,000
17
11800,000
9
750,000
18
2,000,000
10
800,000
19
2,200,000
20
21500,000
All or any part of said bonds may be made redeemable prior to
their respective maturities, at such times and prices and under
such terms and conditions, as the City Commission shall determine
by resolution prior to the sale of the bonds.
3.
s
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Said bonds shall bear interest, payable semi-annually,
from the date or dates thereof at a rate or rates not
exceeding the rate legally permitted, Both the principal of
i and the interest on said bonds shall be payable at a bank or
trust company in the Borough of Manhattan, City and State of
New York, or, at the option of the holder or registered
owner, at a bank or trust company in the City of Miami,
Florida, in any coin or currency of the United States
of America which, at the respective dates of payment thereof,
is legal tender for the payment of public and private debts.
Section 4. Said bonds shall be signed by the Mayor
of the City by his facsimile signature and by the City
Clerk, and a facsimile of the seal of the City shall be
imprinted on the bonds. The interest coupons to be attached
to said bonds shall be executed with the facsimile signature
of the City Clerk. In case any officer whose signature or a
facsimile of whose signature shall appear on any bonds or
coupons shall cease to be such officer before the delivery
of such bonds, such signature or such facsimile shall
nevertheless be valid and sufficient for all purposes the
same as if he had remained in office until such delivery,
and any bond may bear the facsimile signature of, or may
be signed by, such persons as at the actual time of the
execution of such bond shall be the proper officers to
execute such bond although at the date of such bond such
persons may not have been such officers. Said bonds and
coupons and the statement of validation and provisions for
registration to be endorsed on the bonds shall be sub-
stantially in the following forms:
4.
r�
81-1024
No,
United States of America
State of Florida
County of Dade
THE CITY OF MIAMI
FIRE FIGHTING, FIRE PREVENTION AND
RESCUE FACILITIES BOND
$5.000
The City of Miami, in the County of Dade, State of
Florida, is justly indebted and for value received hereby
promises to pay to the bearer or, if this bond be registered,
to the registered owner hereof, on the 1st day of ,
, the principal sum of
FIVE THOUSAND DOLLARS
together with interest thereon from the date hereof at the
rate of — percent ( %) per annum until payment of such
principal sum, such interest to the maturity hereof being
payable on the 1st day of and of
in each year. Both the principal of this bond and, unless
this bond be registered as to both principal and interest,
the interest hereon are payable at
in the Borough of Manhattan, City and State of New York, or
at the option of the holder or registered owner, at
, in the City of Miami, Florida, in any
coin or currency of the United States of America which at
the respective dates of payment thereof is legal tender for
the payment of public and private debits. Payment of the
interest on this bond to the maturity hereof shall be made
only upon presentation and surrender of the coupons,
if any, representing such interest as the same respectively
5.
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fall due; on if this bond be registered as to both principal
and interest, payment of the interest on this bond on any
interest payment date shall be made to the person appearing
on the bond registration books of the City as the registered
owner on the tenth (10th) day next preceding such interest
payment date, such interest to be paid by check or draft in
New York exchange mailed to the registered owner at his
address as it appears on such registration books. For the
prompt payment hereof and the interest hereon as the same
shall fall due the full faith, credit and taxing power of
The City of Miami are hereby irrevocably pledged.
This bond is one of a duly authorized issue of bonds of
The City of Miami 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 said City
(Chapter 10847, Special Laws of Florida, 1925, as amended),
and pursuant to ordinances and resolutions duly adopted by
the City Commission of said City, for the purpose of paying
the cost of fire fighting, fire prevention and rescue
facilities, including the construction and reconstruction
and improving of fire stations in the City of Miami,
administration building, other structures, equipment,
vehicles and communication systems related to the training,
administration and operations of the Fire Department in the
City of Miami and the acquisition of any necessary land and
equipment related thereto. The bonds of this issue were
duly approved by vote of a majority of the qualified electors
of the City voting thereon.
6.
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(Here insert redemption provisions, if any.)
It 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 i
as so required; that the total indebtedness of the City of
Miami, including this bond, does not exceed any constitu-
tional 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 of Miami sufficient to pay the principal of and the
interest on this bond as the same respectively shall become
due and payable.
This bond may be registered as to principal alone and
also as to both principal and interest in accordance with
the provisions 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 its seal to be
imprinted hereon, and the interest coupons attached hereto
to be executed with the facsimile signature of said City
Clerk, all as of the 1st day of
[SEAL)
THE CITY OF MIAMI
7.
, 19
Facsimile Signature
Mayor
City Clerk
81-1020
AW
(tndorsements upon Bonds)
STATEMENT OF VALIDATION
This bond is one of a series of bonds which were
validated by judgment of the , rendered on
r 19. - •
PROVISIONS FOR REGISTRATION
This bond may be registered as to principal in the
Bond Register of the City of Miami by the Director of
Finance of said City as Bond Registrar or by such other Bond
Register as may be legally appointed by the governing body
of said City, notation of such registry to be made hereon by
such Bond Registrar, and this bond may thereafter be trans-
ferred on said Bond Register only upon a written assignment
It is hereby certified that at the request of the
holder of the within bond for its conversion into a bond
registered as to both principal and interest, the undersigned
has this day cut off and cancelled all unmatured coupons
attached thereto, being
in number, numbered from
to , inclusive, of the aggregate face value of
$ , and that the within bond is hereby converted into a
registered bond, the principal and interest of which are
payable to the registered owner named in the registration
NF
N 81-1020
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blank above or his legal representative. interest will be
remitted by mail in New York exchange.
Dated: , .
Bond Registrar of the City of Miami
(Form of Coupons)
No.
1�
On 1 , The City of Miami, in the
County of Dade, State of Florida, will pay to bearer at
, in the Borough of Manhattan?
City and State of New York, or, at the option of the bearer,
, in The City of Miami, Florida, upon the
presentation and surrender hereof, the amount specified
hereon in any coin or currency of the United States of
America which at the time of payment is legal tender for the
payment of public and private debts, as provided in and for
the semi-annual interest then due upon its Fire Fighting,
Fire Prevention and Rescue Facilities Bond, dated 1,
19_1 No. (if said bond is subject to redemption, here
insert in coupons representing interest payable after the
first date on which said bond may be redeemed the words
"unless said bond shall have been called for previous
redemption and provision made for the payment thereof").
9.
City Clerk
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Section S. Title to any bond and to the interest
coupons thereto appertaining shall pass by delivery in the
same manner as a negotiable instrument payable to bearer
unless such bond is registered in the manner therein provided.
The bonds shall be registrable as to principal alone and
also as to both principal and interest in accordance with
the terms and conditions provided in The Code of the City of
Miami, Florida. No charge shall be made to any bondholder
for such privilege of registration.
Section 6. Said bonds shall be general obligations of
The City of Miami, Florida, and, for the prompt payment of
the principal of and the interest on said bonds as the same
shall fall due, the full faith, credit and taxing power of
The City of Miami are hereby irrevocably pledged.
Section 7. Pursuant to the provisions of the Charter
of The City of Miami and of said Ordinance No. 9296, there
shall be levied and collected upon all property within The
City of Miami subject to taxation for such purposes, in each
year while any of said bonds shall be outstanding, an ad
valorem tax sufficient to pay promptly the principal of and
the interest on said bonds as the same respectively become
due and payable, and to provide for probable failures of
collection of such tax in such year. Such tax shall be
levied and collected at the same time and in the same manner
as ad valorem taxes levied for operating expenses of the
City and shall be in addition to all other taxes authorized
to be levied by The City of Miami. The City covenants that
it will not accept payment of taxes levied for operating
expenses of the City unless there shall be paid at the same
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time the tax levied to sake the principal and interest
paytttenta required by this resolution.
Section 8. The proper officers of The City of Miami
are hereby authorized and directed to take appropriate
proceedings for the validation of the bonds herein authorized.
Section 9. This resolution shall be in full force and
effect immediately upon its passage.
PASSED AND ADOPTED this 10 day of DECEMBER , 1981.
MAURICE A. FERRE
M A Y 0 R
ATTEST:
C le
CI`TY CLERK
PREPARED AND APPROVED BY:
?I PAM JQAA44
Deputy ' City Attcirney
$1-1020
STATE OF PLORIDA )
COUNTY OF DADE )
CITY OF MIAMI )
it RALPH C. ONOIE, Clerk of the City of Miami, Plorida,
DO HEREBY CERTIFY that the attached and foregoing pages
numbered 1 through 11, inclusive, contain a true and
correct copy of a resolution adapted by the Commission of
said City at a meeting held on the _ day of ,
1981, designated Resolution No. .
WITNESS my hand and the official seal of the City of
Miami, Florida, this day of
1981.
RALPH G. ONGIE
City Clerk
81-1020
Ta. Howard V, Gary
City Manager
" Ot9'Y OF MIAMI. FLORibA
.1t .r 1%1 1 1 I�IIC' ��lVtl tNf t3ANDUM
DATE, November 9, 1981
} j� /� FILE:j�
SUBJECT- issuance olr $ 21 , 000 , 000
Fire Bonds
FROM Carlos E, Garcia REFERENCES:
Acting Director
Finance Department ENCLOSURES:
It is recommended that the attached
Resolutions be passed by the City
Commission, providing for the issu-
ance of fire fighting, fire prevention
and rescue facilities bonds for the
City of Miami, Florida.
The voters of the City of Miami approved the issuance of fire
fighting, fire prevention, and rescue facilities bonds in an
amount not to exceed $21,000,000.
In order to proceed with the validation of these bonds, the
City Commission must pass the attached resolutions providing
for the issuance of these bonds.
CC: Law Department
81 -1020