Loading...
HomeMy WebLinkAboutR-00055'SUPPORTIVE DOCUMENTS FOLLOW" RESOLUTION NO. 5 i' A RESOLUTION- PROVIDING _FOR .THE ISSUANCE OF ^$52,000 INTROVEMENT BONDS, 'SERIES 3 , , •DATED :AUGUST .1, 1921. CrrY COMMES 1 '� *Mi'ING OF m1NnoN 110.62 �j�,.4- mime . WHEREAS, pursuant to the provisions of Section 26 • of the Legislative Charter of the City of Miami, and during the time such Charter was in force, the City Council of the City of Miami duly passed a resolution ordering the improve- ment of North Miami Avenue from the crossing of the Florida East Coast Terminal Tracks to Flagler Street, and South Miami Avenue from Flagler Street south to .ridge across Miami River, within said City, which resolution was thereafter duly con- firmed by said City Council after advertisement published in accordance with said charter, and after opportunity had been allowed in accordance with said charter for the offering of objections; and WHEREAS, all acts and things required by said charter to happen and exist precedent to tnC. in the execution of a cnn- tract for said improvement, duly happened and existed, and while the said charter was in force said City Council duly entered into a contract for the construction of said improvement for the spun of forty-seven thousand one hundred and sixty-two dollars and sixty-five cents (447,162.65); and oidEi.:iS, it is estimated by the Cof:.misslorl that the cost of the incidental e..penses in connection with said improve- ment, as cortempl,.ted by ectiori 26 of said legislative charter and by erection 56 of the present chk1rter, is f.)ur t;iousand nine hundred eighty-five d')11Lr2 an,i forty 4e:itc: v,hich estimate confirms t1T , stun .t:. hide t;' the City .::146i:1(1,3r; 4-id v6 of th.(, pr.,.. nt c}-ir.rt:i "DOCUMENT INDEX ITEM O. (1— 17! "SUPPORTiV, DOCUMENT FOLLOW" 0ommiesi0l to issue Onde to the amount oT 'tie' cost of Said improvement as evidenced by the contract pride the e O plus the cost of such incidental expenses, upon the happening Of the conditions hereinabove recited; and WHEREAS, it is deemed necessary by theCommiSei'dn that bonds to the amount of $52,000 be issued •to pay such cost; NOW, THEREFORE, BE IT RESOLVED BY THE COmmISSIO1 OF TEE CITY OF MIAMI: Section 1. That in order to pay a part of the coat of the improvement of North Miami Avenue from the crossing of the Florida East Coast Terminal Tracks to Flagler Street, and South Miami Avenue from rlagler Street south to Bridge across Miami River, and the incidental expenses there of, there shall be issued the ne,rotiable coupon bonds • of the City of Miami in the aggregate amount of :52,000, dated august 1, 1921, denominated Series S, consisting of 52 bonds of 4,000 each, numbered from 1164 to 1215, inclusive, bearing interest at 6 per centum per anmiin, payable semi-annually on the first d.rys of February and ..ugust o-' each year upon the presentation of coupons to be uttach- ed to said boas, both principal and interest to be o--f,ble in gel . coin o-`' the: United ::tat;::; tare present standard of weight and i ineu , at the U I; i ., l: Ci 3 t n t, s Lt j, c, ,., . t Company in the C i ty Nee , .it 3u t 4,tior of i-' L:.i',.. _ t orC.' , on E .. Ii,:3r th nd t a�. bai' :liaigeCOOt rner` "SUPPORTIVE DOCUMENTS FOLLOW" Section 3. : That the 'principal and interest .;ofa epooial asSoSemerit8 ._ —vied ,for. the improvement -her'eiiabOv r-'L- mentioned, shall be placed in a special fund which isher4bp,. created, to be - known ae . "Special Assessment S-Pundfl,2,andAsiid. fund and said- Jaseessment shall be used for no-.oth4r:ptirpose than. for : the payment of the prino ipal and .interest o.f 'the bonds:. herein' authorized. Section 4. That notwithstanding the --foregoing...p'ro- visions for the segregation of special . assessments -for the 'pair- went of the bonds herein authorized and interest, the principal and interest of said bonds shall be payable fromgeneral taxation upon all the taxable property of the City of Miami, as provided by Section 56 of the charter now in force, and provision for such levy shall be ,^ace in each year while the bonds herein authorized shall be outstµnding. Section 5. The Director of Finance is authorized to call for sealed bids for said bond:, to be received until 9 o' L1ock a.m. , November 15, 19:'_1, by publication once in the Miami Herald, published in ami, and do the Daily Bond Buyer, a financial newspaper publishes in New York City, both publicat- ions to be made at least ten dny; before ward date for receiving G i J a ::':, v i c t ::h C !1 m b e : r. .:-.tip. tan y following i _ ay .,,_. ti��.11 the o'lo:vin� form: CI O_ :i. T : , :214):IDL, by th C t' Lam,...:i7531on V 7. - :.' ......:e ".C-2 )poeaI for lioL.d:;tt or ✓.. lJ 1:.prov . ent v(- 1 ..,a.rli...t 1 ...1 i::i..tu_'ing .:.7 _ :1 . _ . a _""' :' J 1" '.. 4.1 L" :. 4 ar. i .... , L0 0 '0 a.w a..lttii Ut, 1,OOO, not regieterabl.e. Purpose.,w.str.eiet'improve General Cit r'°db .#gamoi , pa b ro f i m:i tie . a r g:h ';x��`:i'�r..,� '.gib'. ti?. >;a•.. ;:r;. :..�.. '•v:'?d'..-:;� i'-'• :k.t Kq'; =..�, y-,. - 41-vr?µ::'�\ e:,+-•.++,>,. _1�,..+.:;. The bonds ,will be prepared under, the ;eiiiia the ttuited -;,Statesrtgage 'TruetNew 'Sfar 'io i M i.1-aertif :ats ,to .;the: ;genuineness .off ,th©'. eiga attire 'the officials and. .the, .seal impressed ':thereon. ,.. Iega Will be approved by Chester 'B. Maeel dh, Esquire,, ,1lteav Cork= .4 } Citywhose :approving opinion ,wil? be furnished the puraol aser F ;7 • 4thout charge. Bids must be upon, printed form to be furnished by the undersigned or said Trust Company and be accompanied by a 'certified chec:;. payable to the order of the undersigned for two (2) per cent. of par value of bonds bid. for. ;Bonds will be delivered at p1-ce of purchaser's choice on or about December 1, 1921. The right to reject any or all bids is reserved. C. B. Selden, DIRECTOR OF FINANCE. Section 6. That at the time so fixed for the receipt of sealed bids, a meeting of the Commission shall be held to re- ceive and consider the same. PL4SED iifl) aiDOl ED t llth thy October, 1921. Cle rk blay or° 4