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Home My WebLink AboutR-001191 RESOLUTION NO. ,0$ .. :. A RESOLUTION AUTHORIZING THE CITY MANAGER OF' . Tim' CITY. OF MIAMI TO ENTER INTO AND EXECUTE. A .O ONTRAC :.:+ WITH TOTE MIAMI TRACTION COMPANY FOH THE RU!?CHASE BY SAID CITY OP THE TRACKAGE AND EQUIPMENT OF T$E MIAMI TRACTION COMPANY AND THE SURRENDER OF ITS FRANCHISE AND THE CANCELLATION OF ITS INDEBTEDNESS TO THE CITY. WHEREAS, the City of Miami, Florida,: a municipal cOrpOrar� tion, and Miami Traction Company, a corporation, have heretofore entered into an agreement whereby the said City agreed to purchase and the said Traction Company agreed to sell to said City of Miami all of the street railway equipment of said Miami Traction Company of every kind and character, located within said City, including approximately five miles of tracks now laid in said City, and all its rails, frogs, sidings and other property and material, to3ether with all of its rights of every kind, nature or descrip- tion which it has or might have under and by virtue of any contracts between said Miami Traction Company and any person, firm or corpora- tion pertainin;: or relating; to the ri hts-of-way, use or operation of said Miami Traction Company, or of its said tracks, and to cancel and surrender the franchise heretofore granted by said City of Miami to said corporation, covering the maintenance and operation of e. street railway service within the said City, and, WHEREAS, at a. special meeting of the stock holders of the Miami Traction Company, a corporation of the State of Florida, held on the 23rd day of November, 1921, the President and secretary of said corporation were authorized and empowered in the name of and f r and on behalf of said corporation to execute any and all in- struments which mi.:rht be neceosary or :iesira,ble to carry out the said agreement between said City and said Miami Traction Company, which said 'Resolution reads as follows, to -wit: REFOLUTION I'r ^7,70LV7D: That the President and :'ecretary of this co rpor tion, Flori ;a, !;e, directed, in sell to t'i'3 equipment of located with of tr:_,c::- now .'roFrs "DOCUMENT INDEX - viz. , Miami Traction C( mpany, a corporation of un- t'_-:ey a,2e hereby alithorizad, empowered and the name of ani on behalf of this corporation, to Ci*y of Miami, Flori .a, all of the street railway this, corporation, of every kind anJ character in said City, incluiinfa approximately five (5) miles lair in the streets; o.r sal Ci v, i.3, al 1 it , aidin,;s ani other property and material, ana to ITEM NO /! cannel and surrender the franchise heretofore granted by':. said City to this corporation covering the maintenande and operation of its Street Railway Service within the City limits, upon the following conditions, viz: 1. That paid City shall pay to thi8 oorporati it within a reasonable time hereafter, the sum of Forty- five Thousand ($45,000.00) Dollars, either in cash, or in valid obligations of said City bearing interest at the rate of six per oent per annum; 2. That said City shall cancel and satisfy any and all indebtedness which it now holds or olaims against this corporation growing out of, or relating to, the construction of the Flagler Street (old Twelfth' Street) and Miami Avenue (old Avenue D) bridges over the Miami River; 3. That said City shall oancel and satisfy any and all indebtedness which it now holds or claims against this corporation growing out of, or relating to, street paving along the street railway tracks owned by this corporation within said City; 4. That said City shall cancel and satisfy any and all indebtedness which it now holds or claims against this corporation for municipal taxes, either delinquent or current, including interest and penalties; and shall further release this corporation from any future.liab- ility on said account; 5. That said City shall cancel and satisfy any and all other indebtedness of any kind or character which it now holds or claims against this corporation on any account whatever; 6. That said City shall cancel and satisfy all outstanding bonds of every kind or description furnished by this corporation to said City in relation to any matter growing out of the affiars of this corporation, and shall hereafter hold this corporation free from liability and harmless on account thereof; and BF IT FURTHER RESOLVED: That the president and Secretary of this corporation are hereby authorized and empowered, in the name of and for and on behalf of this corporation, to exeoute any and all instruments, and to do all acts and things, which, in their judgment, shall be necessary or desirable in order to carry out and eff- ectuate the provisions of this Resolution. STATE OF FLO7IDA ) SC COUNTY OF DADS I hereby certify that the foregoing is a true and correct copy of a Resolution adopted at a Special Meeting of the Stockholders of the MIAMI 'FRACTION COMPANY, a corporation of Florida, held on the 23rd day of November, 1921. Witness my signature and the seal of this corporation, tliis 25th day of November, 1931. (SIGNED) J.R.TATU!S, Secretary. ,.•fir R1/2'-FI VE CITY COMMISSION ME,.T 1NG OF kE&JwTRD3 ;vo. 1 2- v0// ti E MAt: F.S. . . WOE THERE Rt; BE It PESObii of the City of Miami, Florida: Section 1: That the City Manager of the City of Miami be and he is hereby authorized and directed to enter into a written contract between the City of Miami, Florida, and the Miami Traction Company, a corporation of Florida, substantially as follows, to -wit: THIS AGREEMENT dated the day of January s 1923, between the Miami Traction Company, a corporation of Florida, hereinafter called the party of the first part, which term shall include its successors and assigns wherever the context requires or admits, and the City of Miami, a municipal corporation of the State of Florida, hereinafter called the party of the second part, which term shall include tta successors and assigns wherever the context so requires or admits, WITNESSETH, that the party of the first part for and in consideration of one dollar and other valuable considerations to it in hand paid by the party of the second part, the receipt whereof is hereby acknowledged, as well as in consideration of the mutual advantages inuring to both the parties hereto, does by these presents, grant, bargain, sell, transfer, convey and deliver unto the party of the second part, all of the Street Railway equipment of the party of the first part, of every kind and character, located within the City of Miami, including approximately five (5) miles of track now laid in the streets of said City, and all its rails, frogs, sidings and other property and 'material, and all of the right, title and interest of whatsoever kind, whether in law or in equity which the said party of the first part has in ani to sai- Street Railway equipment and said property, including all of its v �• • f right, title and interest in and to the Franchise heretofore granted to it by the said City of Miami covering the maintenance and operation of its Street Railway, or of its Street Railway Service within the said City of Miami. Upon the execution and delivery of this agreement it is understood and distinctly agreed between the parties hereto as follows: 1. That the said party of the first part has received from the party of the second past the sum of forty-five thousand ($45,000.00) dollars, either in cash or in valid obligations of said City, bearing interest at the rate of six per cent per annum. 2. That said City has cancelled and satisfied any and all indebtedness which it now holds or claims against the party of the first part, growing out of or relating to, the construction of the Flagler Street old Twelfth Street) and Miami Avenue (old Avenue D) bridges over the Miami ?diver. 6. That the party of the second part has cancelled any and all indebtedness which it now holds or claims against the party of the first Dart growing; out of,or relating to, street paving along the street railway track owned by the party of the fit vt part within the City of Miami. 4. That the party of the second hart has cancelled any and ali indebtedness which it now holcs or claims against the party of i'i r?,t part for municipal taxes, either {. delinquent or current, including interest and p e n a l L i e , r n i r e i. e a. : said pa Ty cf the ... r t from any future liability on said account. 5. That the said party of the second part has car ei- laed aatisfiea any and all other indev'`e neF,F; of anY ;kind or chard.cter whic: it now holds or L laims a.;aar,t:t the .3aic. part'' 0 The first )art on any :. 01.intb wirnt Oeve . ppg701111KrIll ft* to 1111,111111111111111111111111111111111111111111111111111