HomeMy WebLinkAboutR-00727!fit COMMON
MEETING OF
APR 17-19.2.3
CUM
oe. ZOX NO. T.
A 1'IXROLOTIOX AUT1Dt$INO $2,420;
MUNICIPAL LMP1OY>i1M>!9 ' BONDS.
BE IT RESOLVED BY THE 00MMMI98I0N Or THE OITT Or KIA*I:
Section 1. That pursuant to the vote of sleetoxa
duly qualified, taken at an election held March 30, 1921 per"
suant to Ordinance No. 197, #3,730,000 negotiable coupon boa.*
of the City of Miami shall be issued under date of Jny�p
1, 1933, bearing interest at five per oentu+a per annus, which
interest shall be payable scot -annually on the first days of"
_July and January in each
year, and both principal and interest shall be payable in gold
coin of the United States of the present standard of weight
and fineness at the United States Mortgage & Trust Company in
New York City, and that the principal of said bonds shall be
payable on the first day of July of the years
provided for their maturities by said Ordinance No. 157.
Section 2. That the said bonds shall comprise eleven
distinct classes, each class distinguished from the remaining
classes by the numbers assigned thereto, as hereinafter in this
resolution provided, and the amount and purpose of issuance of
each class shall be as follows:
For constructing a hospital unit and connecting Corridors
and equipping hospital unite, $100,000.
For acquiring an adequate supply of wholesome water for
the use of the City and its inhabitants, $750,000.
For constructing an incinerator, $40,000.
For extendin3; and improving the street railway system
of the City of Miami, $400,000.
For acquiring property for street purposes, $75,000.
For extension of fire alarm system and installation of
hydrants and high pressure system, $75,000.
"DOCUMENT INDEX
ITEM NO. /0
"SUPPORTIVE
DOCUMENTS
F LLQWU
"SUPPORTIVE
DOCUMENTS
FOLLOW"
To pay tbs Ci,tyi.s sOars of tba eOlt ►f ,i
storm sewers, 05,000.
For acquiring and *proving lands -for.p
purposes, $1,000,000.
Pbr erecting a public comfort station, 5, , :t
Fbr deepening the channel and turning .baste -,of
City's harbor, $100,000.
To pay the City's share oft)* cost of oonstr soUiaag
sanitary sewers, $100,000.
Section 3. That all the bonds herein authorised shall
be in the denomination of $1,000 and shall be designated
"Municipal Improvement Bonds' and shall be alike in form, except
as to dates of maturities and numbers, and the for of said bonds,
coupons and registration endorsement, as well as the manner of
execution of said bonds and coupons, shall be substantially as
provided by Ordinance No. 29, passed November 15, 1921, being
an ordinance providing; the form of bonds issued under Section 58
of the City Charter; each of said bonds shall recite its purpose
of issuance as "paying the cost of certain permanent municipal
improvements as set forth on the reverse of this bond"; and a
form shall be provided on the reverse of each bond for the
certificate of validation provided by law.
Section 4. That after the preparation of said bonds,
with proper maturities as provided in said Ordinance No. 157, the
said bonds and coupons annexed thereto shall be stamped with the
numbers 50E.9 to 7828 inclusive, in the order of maturities, and
the bonds bearing* lowest »:eI a :c r.e those first maturing of all
the bonds herein authorized, and the bonds be. rinE consecutive
numbers following tc, be those of the succeeding maturity, and so on;
trereupon there shall be assigned to the Hospital Bonds the lowest
numbers of bonds having such maturities as have been designated for
Hospital .^.;.irids by said Ordinance No. 157, after which there shall
be assir•-z-ed to the remair_ine; ter: classes of bonds, in the order
in which said oL.:::.s art' described by Se^.ticn 2 hereof, the lowest
•
available numbers of bonds ittOttst
so designated for such classes respeotivel1;
of each bond there shall be printed a statement Sboe
amount and numbers and maturities of each :of suoh e1+ i
of bonds; and a copy of such statiment shall be -record.
bond record of the City.
Section 5. That an annual general tax shall bit 1
sufficient to pay the principal and interest of s11 of said be
Section 8. That the Director of Finance is authoris
to advertise for sealed bids for said bonds, but not for loss.
than all thereof, to be received until nine o'clock,
a. m, May 29th , 1923, and is authorized to
promise delivery of said bonds on or about it� G
1923, the form and manner of advertisemeto be substantially as
provided by Ordinance No. 28, passed November 15, 1921.
PASSED and ADOPTED this seventeenth day of April,
1923.
ATTEST:
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