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HomeMy WebLinkAboutR-000544 f RESOLUTION NO. 646 A RESOLUTION PROVIDING FOR THE OREATION OF FMB FOR STEDIAI ASSESSMENTS AND LIMITING TEE EFFECT OF RESOLUTION NO. 169 PASSED JULY 28th, 1919 OREATING IMPROVEKOT FUND NO. 18 • WHEREAS, under the provisions of Chapter 8303 Special Laws of 1919, amending the Charter of the City of Miami, the • . City was given the power to create a single new fund, proper- ly designated, --to be made up from the collections of assees- ments for the cost of improvements for whose cost bonds should thereafter be contracted to be sold, such provisions taking the place of the original provisions of Section 26 of the 1915 legislative charter, which required a separation of funds for the separate Improvement Bond issues of the City; and WHEREAS, Resolutioil No. 1369 was passed July 28th, 1919, to carry into effect the said provisions of Chapter 8303 Spe- cial Laws of 1919; and. WHEREAS the said provisions of Chapter 8303 Special Laws of 1919 are not contained in the present charter of the City of Miami, adopted 1921, and the provisions of the present char- ter in respect of special assessment funds, are practically identical with the provisions of said legislative charter of 1915, and by reason thereof assessments hereafter made, cannot legally be placed. in Improvement Fund Eo. 18, but must be placed in Special Fund pledged to the itlyment of the bonds is- sued to pay the cost of the improvements for which such special assessments are to be made; now there,. BE IT RESOLVED by the Commission of tho-CUty-of SECTION 1. That hereafter upon the issuance of any Improvement Bonds under, the provision!: of Section 56 of the City Charter, there shell be c rertted a special fund bearin:7 some letter of the alphabet as a distinctive desi7nation there- of, such fund to be knom as "Special Assessment Fund" (the distinctive letter to be inserted in the blank space in the name of said fund) into whic21 fund shall be placed all money oollectod cf aE-sessments for the payment of the cost of all the improvements, or the one inwrovement if there be but one, for the nayment clf the cost of which such ly)nds are issued, which fund shall be :rledged to and used solely for the payment of 1:he principal and interest of the said bcnCs until all tlere- of shall have been fully raid, it being the intention of this Resolution to comly with the provisions of Section 56 of the City Charter and to permit in case of a b:.nd isue for more than one improvement, that the asse::.ents collected for ail of such improver:Art for which said bond issue is made, shall be placed in a ::inf7le fand, separate and distinct from Improvement Fund No. 1S, and Separ!ito and ditinct from all other Funds created for other bond i7:sues. SECYL,J.: 4. That ImproveLent Fuid :so. 1H shall to be mai. tained, in accordance with the terms of said ro. 1369, f.nd ifIto saiL" fund shall be placed all collec a•sef:sLHnts which the Jity .'.)ouncil of the ity of Liaj ed to be placed th.3rein, until all bonds to which said sent 2unC Eo. 18 ha c been p edged, and the interet the shall have bee:: fully paid. "DOCUMENT INDEX ITEM NO. ‘; continue 2.esolution tions :f has order- Improve- reon, CITY COMMISSION MEETING OF OCT11--(971 ERWRWM.;4"7-11- KAMM RESOLUTION NO. 64. A RESOLUTION PROVIDING FOR THE CREATION OF FUNS FOR SPACIAL ASSESSMENTS AND LIMITING THE EFFECT OF RESOLUTION N0. 169 PASSED JULY 28th, 1919 CREAT IN G.: ;: IMPROVEMENT FUND NO. 18 . WHEREAS, under the provisions of Chapter 8303 Speotal Laws of 1919, amending the Charter of the City of Miami, the City was given the power to create a single new fund, proper- ly designated, to be made up from the collections of assess- ments for the cost of improvements for whose cost bonds should thereafter be -contracted to be sold, azch provisions taking the place of the original provisions of Section 26 of the 1915 legislative charter, which required a separation of funds for the separate Improvement Bond issues of the City; and WHEREAS, Resolutioh No. 1369 was passed July 28th, 1919, to carry into effect the said provisions of Chapter 8303 Spe- cial Laws of 1919; and WHEREAS the said provisions of Chapter 8303 Special Laws of 1919 are not contained in the present charter of the City of Miami, adopted 1921, and the provisions of the present char- ter in respect of special assessment funds, are practically identical with the provisions of said legislative charter of 1915, and by reason thereof assessments hereafter made, cannot legally be placed in Improvement Fund No. 18, but must be placed in Special Fund pledged to the ,-ayment of the bonds is- sued to pay the cost of the improvements for Phich such special assessments are to be riade; now there,: BE IT RESOLVED by the Commission of the .-3i-ty -.of SEO IGI; 1. That hereafter upon the issuance of any Improvement Bonds under, the nrovisione of Section 56 of the City Charter, there shall be c rested a special fund bearin,- some letter of the alphabet as a distinctive designation there- of, such fund to be <_novn as "Special Assessment Fund" (the distinctive letter to be inserted in the blank space in the name of said fund) into which fund shall be placed all money collected cf assessments for the payment of the cost of all the improvements, or the one imi,rovement if there be but one, for the payment of the cost of which :such bends are issued, which fund shall be pledged to and used solely for the payment of -che principal and interest of the said bends until all tease - of shall have been fully raid, it being the intention of this Resolution to comply with the provisions of Section 56 of the City Charter and to permit in ease of a bend issue for more than one improvement, that the asses::.erts collected for all of such improvement for which said bond issue is made, shall be placed in a n:': e fano, ue-^arate and di otinct from Improvement Fluid No. 1S, and separe.to and distinct from all other ?uads created for other bond iI:sues. S::CTI�i; That Iaprove;._ont Pud.: o . 18 .:hall to be mai- twined, in accordance with the terms of said No. 1369, and into eai6 'fund shall be placed all cellec assessments which_ the City council of the City of _._ia!:i ed to be placed tharein, until all bonds to which said rent 2unC ho. 18 hao been p: edged, and the in_teret the shall have bee,. -''silly paid. co n t i.nue _;esolut i on tione of has order- Improve- reon, CITY COMMISSION MEETING OF OCTII-'u4 R@pLUfpN NO.