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HomeMy WebLinkAboutO-00128ORIANLNOg NO. 128. Alt 01t2711 O AUTHOR/2/M 4800,000 MUM 13011hS tfNli R. .220T1011 B7 0P 0 ZIT °MAIM, BE IT ORa = BY MB 0O1,111/SSIOi c ' TU.& OI i Gp M I : Section 1. That the Commission does hereby find and declare: (a) That the Oity Uanager, pursuant —to request of the Litt' Com- mission, has submitted to the Commission a statement of the tOto.1 amount of all the uncollected taxes levied by the last preceding an- nual tax levy, as well as the total amount of all revenue bonds, notes, Nrarrants and other city obligations of a temporary nature, thich state- ment is in the followinrs words and figures: To the City Commission: Pursuant to your direction that I submit to the City Commission the statement required by Section 57, City Char- ter, to ,be made prior to the issuance of revenue bonds, I submit the following: Miami, Florida, July 28th, 1922. Amount: of uncollected taxes, levied July 18th, 1922, com- puted upon an assessed valua- tion of 64,967,724.00 C17?- Mills 2. Outstanding temporary obliga- tions: Revenue Bonds 0 -o.. Warrants . -o- Notes $'16,635.00 Certificates of indebtedness$ -o- Other temporary obligations.: 6839.25 Total amount of all revenue bonds, notes warrants and other city obligations of a temporary nature now►r outstand ing $23,474.25 3. Temporary obligations author- ized but unissued: Revenue Bonds ;arran.ts , o.. ilotf3�.•1♦ n.0.. , Aert bootee o indebted.neee Aaoowwte: yab1e•.'•.•.••.,♦..• ..gyp.► Otter temporary abligationa. • . -o- r1• 1,136, 935.17 t' `artl rdtt.t....t..ttrtttti+t.ttttt.t 1 36,038.17 Total amount . 0 all author- .2ed but =issued revenue bonds, notes, varrants and other temporary obligations.•4 Total of .items 2 and 6 ....... ...........;_._, 23.47.4._2e6, Excess of uneolleeted taxes (item 1) - over temporary obli- j .11 � 4 . gat ions (item 4) One-half .of said excess 4556,730.46 Subtract amount of temporary obligations (item 4) §..23..474.25 8. Maximum limit of revenue bonds which may be authorized 015,256.21 Respectfully submitted, F. H. WI--4ARTOf City Manager (b) That the Commission believes that' statement to be true. (c) That the amount of the :;,55G0, 000 Revenue Bonds in this resolu- tion provided for, when added to the amount of revenue bonds, notes, warrants and other temporary obligations of the City, thetr er ,issued or unissued, does not exceed Fifty per cent of the amount by Mich the un- collected taxes levied by the last preceding annual tax levy exceeds the aggregate' of • such temporary obligations. • Section 2. That for the .purpose of providing Rinds in anticipa- tion of taxes heretofore levied but not yet paid, there be issued the negotiable bonds of the City o:i :.iami in the aggregate sum of 500,000, dated August 1, 1922, and maturing July 1, 1923, without option of prior payment , and bearing interest at 4* per centum per anrum, payable Jan • - uary. lst, 1923, and at the maturity of said bonds upon the presentation and surrender of the• interest coupons which shall be thereto attached, both principal and interest to be Payable at United States Mortgage E: Trust Company in the City of llew York: in lawful money of the United States. Section 3. That the proceeds of said 2,evenne Bonds shall be paid into the lity trea urn* to the credit of the follov:in7 funds in the amount set ever again st the saute respectively, or if said bonds aha11 be sold at E. 1ese that par a provided by Section 67 of the charter, then In amounts which shall be in proportion to such amounts respectively! ly! Into General Puna 040,000.00 Into Sinking and Interest Puna Q100, 000.00 Into Lighting Oitt and Itydrant Rental Fund 50,000.00 Into Publicity Fund $ 40, 000.00 Section 4. That the amounts hereinabove appropriated fro the pro. °cods of said bonds to certain funds respectively, are in no case great- er amounts than cat be repaid from said fand3 respectively from .such un- collected taxes tihen the same shall be collected, 'in order to meet the payment of such bonds at their maturity, and the interest the eon. Section v. That raid bonds shall be sold by the City °omis: ion, without advertisement of the sale thereof S.r any nev:paper, but after ascertaining the best price at which the same can be sold. Section G. That the Director of Pinance Is authorised to fix the form oT said bonds end the said bonds shall be s-aled cr,th the City seal and signed by the Lhyor, City .:,ai r:r . nd Director of Pinanc e and City Clerk, and the coupons .thereto attached shall be signed by the City Clerk, whose signature upon 6aid coupons may be in facsimile. Section 7. That said bonds shall be a first lien upon all uncollect- ed taxes levied in 1922 and said taxes when collected shall be appropriated to and set aside for the payment of said bonds at maturity, and the in- terest thereupon as the sane shall tall due. Section 8. That this ordinance shall be in force and effect from and after its passage. PASSED i12) j, JOPT D this 28th day of Jul-, ! . L. 1922. ..A 0 1111111! t. tin • 'ea lfifif ti" 5* ti lreby ?ihd iiit b >1t6: ': ah}tager,-31tiPiiiant.16 reiluebt t3i;th te'CO Chad tue'C8lnttl nestn fig;, itat tnetit ? ti1 ' �e ! total 1.VS isetdriaitea'.le`a� fY b7 th61aat preaedin� bhhual d1i•� a t Ae 1 amottiit S all revenue bend& betel, 1, Watt If 7eit? d lfgatiblie'bi -a tetllpt fa11 hattifp Whielt state+ ni tbllot*lfiC'WOfdi to ,44 fiduMiai 14 it, 1012. San teur diteetiei►"., ihitt.i Infra to Ike eiti+ t"etIM :reISatoh biUattee Ot.revenue atatimt'it t!$uirealli libation 5 TTi (iity. Chatter' to be made. p lot+ to ()nevi iubm t the fonotlitiet , unt oi':'tibedlleete °fates, levied Juty 1i, R` - leFlo�tbgppted•tiri n `ah.aiaeieed valuation ` > bti'd9e7,7i4:11b,. .t •..,, 114114 i lib'1114110,04Lit I�ttE nitt tehintltary'.:bbilttatIonat ante 0n agitiatttt't11t, t1t,1,.1t1,t1y, a4�. lirantb vvy4 I,r '`;.s i, i i "1''•„ n iw,,'►1 i i, i v o teir't`itYt,'•ttY 441 41,'µ3,f' i,,11i,t ,°i1,1 ' le.sss•00 .,.e tlleatei-i0! thdebtedhebi 1.•t it.0 . :OthhiP,temtbraty oblieatloh& ..„r,;41i,44 b.b89.2`. �IIa `t b#'kit teVilntia bibade _ hetebi a b laatrehtrill other‘eity:bb igatlena ;ot taitentheriry nature nott/,•outetanding:-` 3 .13,ti4.2u •df 7 abbIItati0na' authoriied :; but ;! utii . ... Me?Itite� 8h�i'pCv'i'.1'il.i•('.tt.,,(ai i(`:sr.au,.. -yw�arrants... ,..... t i , i-i.; . i.. '... ............ a�e� "'i4(itea.'..'i.i t.. .:. .'., +1.., ...,......,; Z'»tt1"'-'• Cartlfleatee et ihdebtednesa .. -o�• Aceounte payable ; .+6 i,.. ........... : e� + Other temporary ebliaatlbha.., Teti) Imount of all futhbrlted but unlit sued revenue bends. Notes, War rants and' ether tempotart' obligations J; f 2$,4i4.26 4. ,'i'otal'ofma ite2 and_ .. i :...1, ......: n 1.`•Exaeia of uhoelleeted taxer (item 1) over temporary Obligation* (Item 4) t1.112,440.52 • e.One halt of Wald exeeaa ..... ... .... i 664,130.46 :. Subtract amounts of temporary obilghtlonn titeth 4) .........•.., ...4..4 ' .... '23,4;425 idmnm limit of revenue betide Whichmay be authorized , ...: ...., Respectfully' submitted, 1 Il. tt 14A11TON, City Manager. lb) 'that the Commission believes that statement to be true. e).That the amount of the $500,000 Revenue Bonds In this reeolu= tion provided for. When added to the amount of revenue bond,', notes: warrants and other temporarryp ,obligations of the City. whether Issued or unlat•ued, does not exceed Fifty percent of the amount 1, y which the ' , uncollected taxes levied by' the last preceding annual tat 11evy exceeds the aggregate of tsueh temporary obligations. Section.2. That for the purpose of providing funds in antlelpation of'taxes heretofore levied but tot yet paid, there be issued the nego liable bonds of the City of ldlami in • the agggregate sum of 9400,000. dated, August l 1922, and maturing July 1, 1922, without option of prior payment,' anbearIi+ g interest at 43.4 per centum per annum, payable anuary 1.d. 1923.' ant et the maturity ,of meld bonds upon the presenta- ph Wand surrender of the interest coupons which shall be thereto at- ltaobed. both .pr,,IInclpal and Interest to be payable at United States Mort. AlitiTrust.Company 1n )he City, ot New York In lawful money of the tatOm, al.,,,!4, A.'1 L,iiti'(.:.? .:i' ,... r. ' rhaat ahe'pro eda'ot said Revenue Bonds shall be paid . to`rthb SIredlt ,of.. the:. following , funds., in' the its. rem vely:*or+if said bondit,sba$ be t% P 0Ptlolt to�such'amounts' eimeetiveiyn' '` Into neneral Fnod., a:40.0oo.0n into Kinking and Interest Fund SIue.000.nn into Lighting City and hydrant ltcntat I•'und.% u"0.tuto, o ' Into Publicity Fund ... ............. ... ... # 4o.uue. n Section 4: That the amounts herelnabavc appropriated from the proceeds of said bonds to certain funds respectively, are In no Gast greater amounts than can be repaid from said funds respectively from such uncollected takes when the same shall be enileeted, in order to meet.tho payment of such bonds at their maturity, and the interest thereon... -- Section: I. That said bonds shall be sold by the • Ctty Commission. without.advertieeinent of the sale thereof in any newspaper, but after appertaining the best price µr which the sane,an by solid. k.a`$ectlon•O, That the pi rector of Finance Itt authorized - to fix the forttt`.:of .sat4 bonds rand -the said bonds shall be sealed with the City *eel A td..eisned„by the: Mayor, City Manager and:Director of Finance afdr+�CIltY.. er1k.:and the 'aoµpnns thereto attached Mali be signed by Rb11nrC11ttk,a/rpos0. sigtiaturo.u1►on tatd coupons may"bo in lac. ',''0.14ectton' 0 Th t' said bonds *hall: be's' flret lien upon all uncollected wtties 2ev1e4,�_3n * I r and. paid ,taxes.' when collected shall be appro. lated,andrset aside .for Oa -payment of said bonds at maturity, and interestthereupon as the same shall fall due. tlon LTbat.thls.Or4taa1ce'sball-be in force, and effect front and 04 404 44;04 ihl. :nth ; i ay Hof 1Mt*:.F. „mayor. [SltMI'S AIM II)AVIT ore and made oath that he is th ......:....»::..»............. 44411— lls, which is a regular Daily newspaper, published at 1, and that the Legal Notice or advertisements a true ;hed, was published in said nlialni Daily Metropolis, - Consecutive wee}ts; the`fi1'Sti choir ittitg axici the liter }ieing on�" 19 --� ;•`; `IT: "` fore me this........,....... day of 19....»....."; A.D. Notary Pub11C. My commission expires. ...........