HomeMy WebLinkAboutR-00714RESOLUTION NO. / IA
A RESOLUTION AUTHORIZING THE PAYMENT OF PREMIUM
ON CHANNEL BOND.
WHEREAS it became necessary for the City of Miami to
execute a bond for channel work on behalf of said. City on which
the premiums have been paid from time to time, and
WHEREAS, an adjustment of said premium has been made
on a basis of oharging the premium for six months, or $500.00
for the period from December 8th, 1923, to June 8th, 1923, subject
to adjustment on a pro rata earned basis as of the actual date of
the completion of the channel by the United States Government,
charging in addition, a premium of one per cent (1%) on the
maintenance guarantee of $15,000.00, or $150.00 per annum, making
the initial charge at this time $650.00, and
WHEREAS, this settlement would effect a substantial
saving for the City of Miami,
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF
THE CITY OF MIAMI, That the Director of Finance be and he is hereby
authorized to pay the said premium of $650.00, of which $500.00
is for the period from December 8th, 1922, to June 8th, 1923, and
the sum of $150.00 is an additional premium of one per cent (1%)
on the maintenance guarantee of $15,000, or $150.00 per annum.
BE IT FURTHER RESOLVED that,the eum of $650.00 be and
it is hereby, appropriated from -) A 1 .�(�G�,-Y�G •
c fund for the purpo3e of paying said
premium.
PASSED AND ADOPTED this
ATTEST:
City Clerk.
'DOCUMENT INDEX
ITEM NO.. 6
day of Apr
Mayor.
1., 1923.