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Home My WebLink AboutR-02181RESOLUTION NO. 2181. 1 RESOLUTION AUTHORIZING $1,789,000.00 IM- PROVEMENT BONDS SERIES "Y". BE IT RESOLVED BY THE C OMISSION OF THE CITY OF MIAMT : Section 1. That the Commission has ascertained ant does hereby find and deolare : 1. That after due advertisement for bide oontraote were let prior to May 9, 1925, for the oonatruotion of oertain looal improvements heretofore ordered by resolutions duly passed and thereafter, on January 13, 1925, duly confirmed, each of said resolutions having declared the intention of the Commis- sion to proceed under Section 56 of the Charter and the confirma- tion of such reeolutions having been preoeded by due notice of hearing and by filing by the City Manager at proper times and' places of plans and specifications of each improvement sad an estimate of the wet thereof; B. The following schedule contains a true statement in its several oolumns of the following faota concerning the said improvements: Column 1. The deeignation of each improvement, the letter H iudicating a highway improvement,. the letters 8K a sidewalk improvement, and the letters SR a sani- tary sewer improvement, accept that the designa- tion SR-103 and SR-120 indicate a storm sewer im- pro vement. Column 2. The number of reeolution ordering each improvement. Column 3. The City Manager's estimate of incidental expense of each improvement. Column 4. The oontract cost of each improvement. Designation Resolution Incidental Contraot Expense Cost H - 245 1748 $ 881.40 $ 9,848.10 H - 246 1749 1531.62 17,110.91 H - 247 1750 10245.00 105,308.60 H - 248 1751 208.20 2,355.91 H - 249 1752 7137.98 79,745.14 H - 250 1753 1810.28 21,675.70 H - 251 1754 1133.82 13,576.08 H - 252 1755 354.67 4,246.97 H - 253 1756 1535.63 17,363.21 H - 255 1758 3292.24 39,419.28 H - 256 1759 2119.64 25,379.40 H - 267 1760 1310.85 15,695.58 H - 258 1761 1694.70 20,291.47 H - 259 1762 2399.85 26,864.80 H - 260 1763 865.35 10,360.79 H - 261 1764 1585.74 18,805.42 H - 262 1765 11116.93 131,835.68 H - 263 1766 7265.10 84,720.91 SK - 55 1767 3752.03 31,103.82 SK - 56 1768 69.13 3,108.25 SK - 57 1769 7} 3 64.90 33,995.47 SR - 103 1770 Z T•. i 14.79 5,180.90 SR - 120 1788 O W d 45.23 74,999.46 S8 104 1771 can ' , 68.22 5,739.65 SR - 105 1772 E cD 64.75 3,683.77 SR - 106 1773 M z e'� 1 61.85 11,020.80 SR - 107 1774 O i1a r 1 99.62 9,548.13 SR 108 1775 w p 95.53 7,355.32 SR - 109 1776 r 39.89 6,567.84 SR - 110 1777 U , 86.71 8,202.63 SR - 111 1778--23.10 1,627,10 SR - 112 1779 79.20 606.75 SR - 113 1780 4956.29 41,117.38 SR - 114 1781 3563.30 32,992.78 SR - 115 1782 610.74pUCUMAi5Y/litX runNn 3 Designation Resolution Inoide ntal Contract Rxpenes 000 SR - 117 1784 $ 1471.06 • 11,956.16 SR - 118 1785 341.35 2,675.05 SR - 119 1786 127.25 1,777.81 SR - 121 1789 2237.91 20,301.48 SR - 122 1790 833.99 7,993.35 8a1 - 3 1791 17 .12 16,696.10 TOTALS $ $ig8,451.2b C. That in no case has the cost or the incidental expense of eaoh improvement been less than the figures set forth in the doors schedule. D. That assessments or Charges against property have been made on or before May 9, 1925, by the City of Miami for other local improvements whioh are authorized by Section 56 of the City Charter as amended by an Aot approved May 9, 1925, to -lit: the construc- tion of sanitary sewer laterals, for which assessments and charges the City of Miami does now hold liens in the sum of $121,362.90 re- presenting the unoolleoted portion of such assessments and charges, no part of which are pledged for the payment of any bonas or other obligations, the oost of said sanitary sewer lateral improvements having been paid from certain funds of the City, and the amounts of such assessments and charges and the numbers of the resolutions authorizing same or purchase orders representing same being as fol- lows: Resolution No. Amount. 801 $2'3,112.35 1152 449.40 1229 18 860 21 1565. . . . . . . . 16,146.18 889 and 1171 58,293.39 Purchase Order No. 15849 and 1723g- 4 t501.37 TOTAL $121, 362.90 E. That after due advertisement for bide, contracts were let (see oolumn 6, paragraph P), for the construction of oertain other local improvements theretofore ordered by resolutions duly passed and subsequently oonfirmed by the Commission under Section 56 as amended May 9, 1925, the confirmation of such resolutions having been preceded by due notice of hearing and by fili4g by the City Manager at proper times and places of plane and speoifioatione of each improvement and an estimate of the cost thereof. "ei,��,' nrc- -$w P. That the following schedule, contains a true state- ment in its several columns of the following facts concerning the improvements referred to in subdivision B of this Seotion: Column 1. The designation of eaoh improvement, the letter H indicating a highway improvement, the letters SK a sidewalk improvement end the lettero SR a sani- tary sewer improvement. Column 2. The number of the resolution ordering eaoh improvement. Column 3. The date of Confirmation of each resolution. Column 4, The City Ptanager's estimate of incidental expense of each improvement. Column 5. The contract cost of each improvement. Column 6. The date contract was let. Incidental Contract Date Con - Improvement Resolution Confirmation Expense Cost tract let SK - 58 1962 June 2, 1925 $ 689.93 $ 7,45'0.33 Sept.7, 25 SK - 59 1963 June 2, 1925 472.35 4,774.00 Sept 7,25 SR - 123 1947 June 2, 1925 466.79 4,577.17 Sept21,25- SR - 124 1948 June 2, 1925 453.08 3,934.78 Sept21,25 SR - 125 1949 June 2, 1925 3,310.08 22,544.36 Sept21,25 SR - 126 1950 June 2, 1925 867.44 8,694.26 Sept21,25 SR - 127 1951 June 2, 1925 899.31 7,481.56 Sept21,25 SR - 134 1958 June 2, 1925 4,735,17 39,003.91 Sept14,25 SR - 135 1959 June 2, 1925 1,646.84 16,388.34 Sept14,25 SR - 136 1960 June 2, 1925 458.99 4,259.93 Sept14,25 SR - 137 1961 June 2, 1925 1,880.05 5,373.39 Sept14,25 H -266 1946 July 14, 1925 6,396.74 61,740.04 Sept14,25 H - 267 1964 July 14, 1925 3,304.25 25,387.78 Sept 7,25= H - 264 2032 July 14, 1925 20,155.95 190,852.11 Sept 7,25 H - 268 2034 July 14, 1925 655.50 5,891.80 Sept 7,25 - H - 265 2033 July 14, 1925 15,540.78 152,128.90 Sept14,25 SK - 60 2035 July 14, 1925 2,661.95 24,959.34 Sept 7,25 SK - 61 2036 July 14, 1925 1,045.46 5,287.42 Sept 7,25 SK - 62 2037 July 14, 1925 148.38 10.17.55 Sept 7,25 TOTALS $65,789.04 591,846.97 G. That it is advisable and neoessary that bonds be issued for the following purposes: (1) To pay the cost and incidental expense of the im- provements referred to in subdivision B of this Section, exoept the sum of $74,072.90 being the City's share of the sanitary sewer improvements there referred to for which share funds have been provided by the issuance of bonds puesuant to an election; (2) To repay to any fund of the City amounts paid there- from upon the cost of the sanitary sewer lateral improvements referred to in subdivision D of this section, and to pay any sums remaining due upon such cost; (3) To pay the cost and incidental expense of the im- provements referred to in subdivision F of this section, (4) To reimburse any City ftasd from which any pert of the cost of the improvement referred to in subdivisions B and P !says been paid or shall be paid before the reoeipt of the proosede of the bonds herein authorized. Section 2. That the negotiable bonds of the City of Sarni are hereby authorised in the aggregate face amount of $1,789,000.00 for the purpose set forth in subdivision G of !Motion 1 of this resolution, that faoe amount not being greater than the oontraot cost and estimated incidental expense of the improvements referred to in the schedule in subdivision B of said Section 1, less $74,072.09 to be applied to the City's share of the cost of th• sanitary sewer improvements embraoed in said schedule, and the assessments and charges referred to in subdivision D of said Sec- tion 1 and the oontraot cost and estimated incidental expense of the improvements referred to in the schedule in subdivision F of said Section 1. Section 3. That said bonds shall be designated "Improve- ment Bonds, Series "Y", and shall be dated August 1, 1925, and shall consist of 1789 bonds of $1,000.00 each, numbered 4464 to 6252, both inclusive and bear interest at 4*% per annum, payable semi- annually on the first days of February and August of each year upon the presentation :of coupons to be attached to said bonds, both principal and interest to be payable in gold coin of the United States cf the present standard of weight and fineness at the United States Mortgage and Trust Company in the City of New York. Section 4. That said bonds shall mature, withuut option of prior payment, on August 1, annually as follows, in numerical order, lowest numbers first: $191,000.00 1927 181,000.00 1928 180,000.00 1929 180,000.00 1930 180,000.00 1931 180,000.00 1932 180,000.00 1933 180,000.00 1934 337,000.00 1935 TOTAL $1,789,000.00 :;: • 8eotion 8. •That the fors and manner of ezeoftiOf Of Said bonds shall be in a000rdanoe with the provisions of Besolni tion No. 941, passed August 21, 1923. 8eotion 6. That the prinoipal and interest of all special assessments which have heretofore been made or ehal here- • after be made for any or all of the foregoing improvements, shall be planed in the fund known as "Improvement Fund No. 19" oreated by Resolution No. 940, passed August 21, 1923, and shall be used only for the purposes for whioh said Improvement Fund. No. 19 was oreated. Seoti on 7. That notwithstanding the foregoing pr ovi alone for the segregation of speoial assessments for the payment of the bonds herein authorized and other improvement bonds and the interest' thereon, the principal and interest of the bonds herein authorized shall be payable from a general tax to be levied upon all taxable property in the City of Miami, sufficient in amount to meet the pay- ment of the principal and interest thereof as the same shall fall aue as provided by Section 56 of the Charter now in force, and such levy shall be made in each year while the bonds herein authorized shall be outstanding. PASSED AND ADOPTED this 5th day of Uotober, A. D., 1925. MAYOR