HomeMy WebLinkAboutR-02182RESOLUTION NO. 2182.
A RESOLUTION ACCEPTING THE BID OF B. J. VAN INGEN
& COMPANY ?OR $1,789,000 IMPROVEMENT BONDS 'SERIES
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BE IT RESOLVED BY THE 00MMIS SION OP THE CITY OP MIAMI:
That the bid of B. J. Van Ingen & Company, dated Sept-
ember 18, 1925, for $1,789,000 Improvement Bonds Series "Y", be,
and the same is, hereby accepted, said bid reading as follows:
"New York, N, Y.
September 18,1925.
City Commission
Miami, Florida
Gent lemon:
We hereby offer to puroh ase at $986.60 per $1,000 band
and aoorued interest, such an amount of bonds of the City of Miami,
more or lees than $1,793,000, as may be issued for the improve-
ments set forth in Resolution No. 2068, passed July 30, 1925, said
bonds to bear date of August 1, 1925, and parry interest at 40
per amium, payable semi-annually, both principal and interest to
be payable in gold. in New York, in the denomination of $1,000,
said bonds to nature annually August 1 $191,000 1927, $181,000
1928, $180,000 1929, $180,000 1930, $180,000 1931, $180,000
1932, $180.000 1933, $180,000 1934, and the remainder in 1935,
without option of pr for payment.
It is a condition of this offer that the bonds shall be
certified by the United States Mortgage and Trust Company, and be
delivered with the opinion of Chester B. Maeslich, Esq., New York
City, approving the bonds as valid obligations of the City of Miami,
payable from a tax upon all of the taxable property therein, de-
livery to be made to us at a bank or trust company in New York City
as soon as the legal evidence can be furnished to said attorney and
approved by him.
We enclose a certified cheok to the order of C. L. Huddle-
eton, Direotor of Finance, for $35,860, to be returned to us if this
bid is not accepted, but otherwise to be applied as party payment
for said bonds, or to be forfeited as liquidated damages in case we
shall fail to comply with the terms of this bid.
This bid is made in contemplation of action to be taken
thereon on September 21 or September 28, 1925, after wh io h latter
date it shall be considered withdrawn unless we shall otherwise di-
rect.
Yours respectfully,
B. J. VAN INGEN & COMPANY"
PASSED AND ADOPTED this 5th day of October, A. D. 1925.
MAYOR
CITY COMMISSION
MEETING OF
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