HomeMy WebLinkAboutO-09129ORDINANCE NO. 9 1 2 9
AN F"14ERGENCI ORDINANCI; AUTHORIZING TIM ISSUANCE;,
SUBJECT TO THE ELECTION AS HEREIN PROVIDED,
OF $30,000,000 STREET AND HIGHWAY IMPROVE-
MENT BONDS OF THE CITY OF MIAMI, FLORIDA FOR
THE PURPOSE OF PAYING THE COST OF STREET AND
HIGHWAY IMPROVEMENTS IN THE CITY OF ?1IAMI
PROVIDING THAT THIS ORDINANCE SHALL GO INTO
EFFECT I.'4MEDIATELY UPON ITS PASSAGE; AND
DISPENSING WITH THE READING OF THIS ORDINANCE
ON TWO SEPARATE DAYS BY A VOTE OF NOT LESS
THAN FOUR -FIFTHS OF THE COMMISSION.
BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI:
Section 1. For the purpose of paying the cost of
street and highway improvements in The City of Miami, includ-
ing the constructing, reconstructing, extending, widening,
grading, paving, repaving, macadamizing and remacadamizing
of highways, streets and other public ways, with necessary -
drainage, sewer inlets, manholes, catch basins, sidewalks,
curbs, gutters and appurtenances and the acquisition of land
and rights of way and the landscaping, clearing and level-
ing thereof, there shall be issued under the authority the
Constitution and laws of the State of Florida, including
the Charter of The City of Miami, Florida and the Municipal
Home Rule Powers Act, Chapter 166 of the Florida Statutes,
and subject to the election hereinafter provided for, bonds
of The City of Miami, Florida, 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 time and
to mature as follows:
Years after
Principal
Years after
Principal
' Date
Amount
Date
?mount
_ 3
$ 880,000
12
1,620,000
- 4
945,000
13
1,735,000
5
11010,000
14
1,855,000
6
11080,000
l5
1,985,000
7
1,155,000
16
20125,000
— 8
11235,000
17
21275,000
9
11325,000
18
2,430,000
- 10
11415,000
19
21600,000
- 11
1,515,000
20
2,815,000
it being estimated and declared by the City Commission that
the probable life of said street and highway improvements is
more than twenty (20) after the completion of construction
of said improvements.
Such bonds shall be in the denomination of $5,000 each
and shall bear interest at a rate or rates not to exceed the
rate provided for in the statutes of the State of Florida,
as shall be determined at the time of sale thereof, such
interest being payable semi-annually, and both the principal
of and the interest on such 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, Flbrida.
The Commission of The City of Miami reserves the right
to make all or any part of such bonds redeemable prior to
their respective maturities at such t.imes and prices and
under such terms and conditions as may be fixed by resolution
prior to the sale of said bonds.
Section 2. A part of the costs of said street and
highway impro•.-ements may, if the Commission of The City of
Miami shall so determine, be specially assessed in the manner
and to the extent authorized and provided by Section 56 of
the City Charter, as amended, and any other applicable laws
of the State of Florida. For the prompt payment of the prin-
cipal of and the interest on such bonds, there shall be
levied and collected annually a special tax upon all taxable
-2-
9129
property within the City, over and above all other taxes
authorized to be levied by the City of Miami, sufficient to
pay such principal and interest as the same respectively
become due and payable; provided, however, that if any
special assessments shall be levied on account of any of
said sanitary sewer extensions and improvements, such annual
tax levy may be reduced in any year by such amount, if any,
as may have been set aside and is then held for such purpose
in the special fund in which the proceeds of such special
assessments shall have been placed.
Section 3. An election is hereby called to be held on
the 7th day of October, 1980, for the purpose of submitting
to the electors of the City authorized by law to participate
in such election the question whether such bonds shall be
issued.
Section 4. Pursuant to Section 58 of the Charterof the
City of Miami, this ordinance shall go into affect immediately
upon its passage and shall not be subject to the right of
referendum.
Section 5. This ordinance is hereby declared an emergency
measure on the grounds of urgent public need for the preser-
vation of peace, health, safety, and property of the City of
Miami.
Section 6. The requirement of raading this ordinance on
two separate days is hereby dispensed with by a vote of not
less than four -fifths of the members of the Commission.
PASSED AND ADOPTED this loth day of July, 1980.
ATTE T : GJ Q
RALPIrG. ONGIE, CITY CL
PR PARED AND APPROVED BY: IER
ROBERT F. CLARK
ASSISTANT CITY ATTORNEY CITY
-3-
1AURICE A. FERRE
M A Y 0 R
ED AS TO
' F. KNOX, III
TTORNEY /
AND CORRECTNESS:
9Y29
P i
,:try OF MIAMI. FLORIDA
INTER-OFFIC: E MEMORANDUM
TO Joseph R. Grassie Ll%lf July 9, 1980—
City Manager Ordinance Authorizing Issuance
of Street and Highway
ODi
%%Improvement Bonds
ld W. atherctor f Publ c Works
It is recommended that an ordinance be
approved to authorize the issuance of
$30 million in street and highway
improvement bonds, subject to election.
The $30 million street and highway improvement bonds will
permit an orderly program of street and highway construc-
tion throughout the City.
Additional details of this program were included in the
report "Data Compiled for a Proposed General Obligation
Bond Election in 1980". This report was previously
submitted to the City Commission.
JAH:hc
Ordinance attached
91g9
MIAMI REVIEW
AND DAILY RECORD f.,.
Published Daily except Saturday, Sunday on.,
Legal Holidays
Miami, Dade County, Florida.
STATE OF FLORIDA
COUNTY OF DADE:
Before the undersigned authority personally
appeared Becky Caskey, who on oath says that she is
the Assistant Director of Legal Advertising of the
Miami Review and Daily Record, a daily (except
Saturday, Sunday and Legal Holidays) newspaper,
published at Miami in Dade County, Florida; that the
attached copy of advertisement, being a Legal
Advertisement or Notice in the matter of
CITY OF MIAMI
Re: Ordinance 9129
..................................................................................................
Inthe ................... X.... X.... X.................................... Court,
was published in said newspaper in the issues of
3.U.y.y..... .1.6........ y.9.g.0.................................................
Affiant further says that the said Miami Review
and Daily Record is a newspaper published at Miami, in
said Dade County, Florida, and that the said newspaper
has heretofore been continuously published in said
Dade County, Florida, each day (except Saturday,
Sunday and Legal Holidays) and has been entered as
second class mail matter at the post office in Miami, in
said Dade County, Florida, for a period of one year next
preceding the first publication of the attached copy of
advertisement; and affiant further says that she has
neither paid nor promised any person, firm or
corporation any discount, rebate, commission or refund
for the p rpose of security is advertisement for
publicat in the sai.4 GSp I111"I',,�
Swortdlnd TA seCllllrfbea b fo6e r�ihis
�. ...day Ct .'�Y. j � 19.... 80
rNot ,� b14i�8?10Wf ��J Ida Large
(SEAL)
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My Commission expires July 17, 1982.
MR-80
f_ 1
CITY OF MIAMI,-
DADE COUNTY, FLORIDA
LEGAL NOTICE
All interested will take notice that on the 10th day of July IM, the
City Commission of Miami, Florida passed and adopted the following
titled ordinance:
ORDINANCE NO. 9129
AN EMERGENCY ORDINANCE AUTHORIZING THE IS-
SUANCE, SUBJECT TO THE ELECTION AS HEREIN
PROVIDED, OF 630,000,000 STREET AND HIGHWAY.
IMPROVEMENT BONDS OF THE CITY OF MIAMI-
FLORIDA FOR THE PURPOSE OF PAYING THE COST OF
STREET AND HIGHWAY IMPROVEMENTS IN THE CITY
OF MIAMI; PROVIDING THAT THIS ORDINANCE SHALL
GO INTO EFFECT IMMEDIATELY UPON iTS PASSAGE;
AND DISPENSING WITH THE READING OF THIS OR-
DINANCE ON TWO SEPARATE DAYS BY A VOTE OF NOT
LESS THAN FOUR -FIFTHS OF THE COMMISSION.
i RALPH G. ONGIE
CITY CLERK
on) CiTY OF MIAMI, FLORIDA
Publication of this Notice on the 16 day of July 19d0
7i16 _, M80-071605