HomeMy WebLinkAboutO-00017OR1iINA1 ON NO. 17
AN O1INAN'ON OALING a t1 OTION
TO VOTE UPON TIM ISSUANO2 Off' tONnS Off'
TIM CITY o „ IIIJItI.
ti E RRAS, the Commission deems it advisable to acquire
by purchase the property of the Miami Traction Company, located
in the City of ldiami, consisting of tracks and rails, owned by
said Company, in order that such property may be operated by the
City of Mimi as a street railway for the use and benefit of the
City and its inhabitants, provided the sum to be paid therefor does
not exceed $123,000; 'and
WH,'REAS, the Miami Traction Company is indebted to
the City of Miami in the sum of approximately $73,000 and it is
ooiitemplated that said indebtedness will be paid by the Company at
the time the City acquires said property, and that the balance of
the purchase price over and above the amount of said indebtedness
will be approximately ; 50,000; and
WHEREAS, the Commission deems it necessary to expend
050,000 for the improvement and development of the Street Railway
property so to be acquired; and
WHEREAS, the Commission is advised by counsel that
the adoption of the city charter in 1921 has revoked the author-
ity conferred by the election helo. July 20, 1920, to issue the
$300,000 unissued portion of $575,000 municipal improvement bonds,
said $300,000 bonds being a part of 0400,000 bonds voted at said
eleotion to be ieeued for the further development, extension and
increase of facilities of the Miami Terminal hook; and
Wi REA, it is deemed imperative that the proposed
terminal dock improvement heretofore begun ehall.be completed at
as estimated cost of 0300,000.
Of pm
NOW, THEREPORE, BE IT ORDAINED BY THE 00=ISSION OP
i CITY OP MIAMIt
Section le That, subject to the ratification by
the vote of a majority of the electors who are owners of real or
pereonai property in the city, and who shall have paid. the taxes
thereon for the year when such tares were last due, voting sep-
arately upon each of the two bond issues hereinafter mentioned at
an election to be held November lst, 1921, which is hereby called,
the negotiable bonds of the City of Miami shall be issued as follows:
(a) Not exceeding 4300,000 bonds for the further
development, extension and increase of the facilities of the Miami
Terminal Dock, by the erection and construction of two additional
wharves, two additional warehouses, one additional slip and the lay-
ing necessary railway tracks, said bonds to mature as follows:
$5,000 annually 1936 to 1960, inclusive, and 4225,000, 1951, so
that all thereof shall have matured within the probable life of
said improvements, which probable life is now estimated and de-
clared to be 30 years from January 1, 1922.
(b) Not exceeding *100,000•bonds for the purpose
of acquiring the street railway properties of the Miami Traction
Company, looated in the City of Miami, and developing and improving
the same for publio street railway purposes for the benefit. of the
city and its inhabitants, said bonds to mature in installments of
410,000 annually, beginning 5 years from their date, so that all
thereof shall have matured within the probable life of said improve -
manta, which probable life is now estimated and d eolared to be 15
years from January 1, 1925.
Section S. That all of the said bonds, if ieeued,
shall bear interest at not exceeding six per oentum per ennum,
payable eemi•annually, gild both principal and interest shall be
payable at United Statee Uortgage and Truet Company, in the city
of New York, and paid bonde ei 41 be in the denomination of 01,000,
g
Seotion 3. That if the bonds proposed by subsection
(a) of Section 1. above shall be ratified at said election, such
ratification shall be deemed to revoke and cancel all authority to
•
issue further bonds tinder the said election held July 20, 1920.
Section 4. That a special election is hereby called
and directed to be held at the City Ha'1 1 in the City of Miami, from
8 o'clock a.m. to sundown on the 1st day of November, 1921, for the
purpose of submitting to a vote of those electors who are owners of
real or personal property in the city and Wio shall have paid the
taxes thereon for the year in which such taxes were last due, the
two separate questions as to whether said two bond issues respeot-
ively shall be ratified and authorized.
Section b. That the City Clerk will open the regis-
tration books for said election from 10 o'clock a.m. until noon on
October 14, 1921, and each day (Sundays excepted) thereafter, until
October 28, 1921, in his office, on which last day such books shall
remain open all day, for the purpose of registering those persons
who are qualified to register for such election.
Seotion 6.eir' That T. N. Gautier, John D. Godman and
F. W. Hahn are hereby appointed and designated as inspectors, and
T. C. Hinton as clerk of election, and the City Clerk is hereby
directed to certify the names of, such inspectors and clerk of
election to the Mayor.
Section 7. That the City Clerk is hereby directed to
publish in the Miami Metropolis, published in the City of Miami, on
October 14, 1921, and also once in each of the two succeeding weeks,
a notice of said election and registration in substantially the
following form:
NOTICE .0 ' /DNB FICTION
PURSUANT 1'0 OR INANQE NO, 17
PAN= Q01'OBE,R 13, 1V21.
A special elEction will be held' an November
3
1st, 1921, from 8 o'olook a.m. to subdowM,
at the City Hall, at vioh election there
will be submitted to the qualified eleetora
who are eaters of real or personal property
in the pity o f. Miamt, and w&to shall have paid
the tastes thereon for the year when such tax-
er wore last due, the following two questions:
1. Shall bonds of the City of Miami not ex-
ceeding 500,000 be issued for the purpose of
further development, extension and increase
of the facilities of the Miami Terminal Dook
by the erection and construction of two add-
itional wharves, two additional warehouses,
one additional dip and the laying of necessary
railway tracks.
2. Shall bonds of the City of Miami not ex-
ceeding 100,000 be issued for the purpose of
acquiring the street railway properties of the
Miami Traction Company, located in the Uity of
Miami, and developing and improving the same
for public street railway purposes for the ben-
efit of the city and its inhabitants.
The registration books will remain open
from 10 o'clock a.m. until noon from October
14, 1921, until October 28, 1921, Sundays ex-
cepted, except that on October 28, 1921, said
registration books will remain open all day
for the purpose of registering thoee persona
who are qualified to register for knob election.
T. N. Gas tier, John D. Godman and F. W.
Hahn will, act foe inepectore and T. C. Mut= tie
vleri of the election.
. 4 ROSS,
City Cleric.
4
Section S. The official ballot to be used at Baia
election shall be in substantially the following form:
O 'i'IOIAL BALLOT
UNCTION NOfVE� 1+,� 1981.
R* c ri (IV MI MI.
(Make six) mark before your choice for or
against each of the two proposed issues
of bonds.)
: : Shall bonds of the City of
FOR Miami not exceeding y 300,000
be issued for the purpose of
• : the further development, ex-
4 • tension and increase of the
: : facilities of the Miami Terminal
: AGAINST : Dock by the erection and con-
: : strut tion of two additional
: : : wharves, two additional ware-
4 4 4 houses, one additional clap and
the laying of necessary rail-
way tracks.
Shall bonds of the City of
: : Miami not e�:ceeding k100,000
t be issued for the purpose of
: FOR acquiring the street railway
properties of the Miami Traction
4. • Company, located in the City of
Miami, and dev loping and impr ov-
AGdINST ing the same for public street
railway porpoises for the benefit
• of the city and its inhabitants.
• :
Seotion 9. That this ordinance shall be in force and
effect upon its passage and shall not be subject to the right of
referendum as an ordinance,
The readins of this ordinance on two separate days is
hereby dispensed with by a four.fifths vote of the Commission.
=TUT:
AMED AND ,ADOPTED this 1h day o October, 1921.
►1erk