HomeMy WebLinkAboutR-02514RESOLUT-ION NO. 2514.
A RESOLUTION ACCEPTING THE JOINT BID OF $TRANABAN,
HARRIS & OATIS, INC., ELDREDGE & 00., REDMOND &
CO., B. J. VAN INGFN & CO., AND WRIGHT WARLOW &
CO. FOR APPROXIiWIELY $2,500,000. IMPROVEMENT BONDS
SERIES "Z" OF THE CITY OF MIAMI , FLORIDA.
BE IT RESOLv&U BY THE COMMISSION OF THE CITY OF MIAMI:
That the joint bid of Stranahan, Harris & Oatis, Ino., Eld-
redge & Co., Redmond & Co., B. J. Van Ingen & Co., and Wright
Warlow & Col, dated February 19th, 1926, for approximately
42,500,000. Improvement Bonds, Series "Z", be, and the same is,
hereby aoaepted, said bid reading as follows:
"Daytona Beach, Pia.
February 19, 1926.
Hon. Mayor & City Commission
Miami, Florida
Gentlemen:
We hand you herewith our bid for your 2,500,000.00
approximately of 5% Improvement Bonds, of which bid this letter
is hereby made a part, and the said bid is made with the under-
standing that the City of Miami will not issue and sell any addi-
tional bonds of any kind for a period of ninety days from this
date.
CITY COMMISSION
MEETING OF I
Rismig ION NO... f 7..? . ( LI ....
REMARKS:. •••••_
Respectfully submitted,
Stranahan, Harris & Oatis, Inc. (NewYork)
Eldredge & Co.
B. J. Van Ingen & Co.
Redmond & Co.
Wright Warlow & Co.
By: (Signed) H. C . WELLBORN
Hon. i,iayor & City Commission
Liiami, Florida
Gentlemen:
"Daytona Beach, Fla.
February 19, 1926.
"DOCUME.0
ITEII NO.
For 2,500,000.00 bonds approximately of the City of
Liiami, Florida, issued for Street Improvement purposes, said bonds
to be dated about Liar. 1, 1926 and bear interest at the rate of 50
per annum, payable semi-annually, principal and semi-annual interest
payable at U. 4. L:ortgage & '''rust Co., in the City of New York, N.Y.,
bonds to be of $1,000. denomination, and maturing serially 1927
to 1936 in approximately equal installments, all without option
of prior payment, we will pay you in current money upon delivery
of the b oAds to us at some bank or trust oompany in the Oita of
New York, N. Y., the sum of $981.61 per $1,000 bond (98.161) to-
gether with aoorued interest from date of bonds to date of delivery
to is.
You are to furnish us at time of delivery of bonds to vs the
approving opinion of Ur. Chester B. Masslioh, of New York, approving
the legality of the bonds in all respeots, together with oertified
transoript of prooeedings upon which said option is based.
We hand you herewith our oertified oheck for $50,000.00, which
is to be held by you pending our compliance with the terms of this
bid or to be forfeited as liquidated damages in the event of our
failure to do so.
Respeotfully submitted,
Stranahan, Harris & Oatis, Inc. (NewYork)
Eldredge & Co.
Redmond & Co.
B. J. Van Ingen & Co.
Wright Warlow & Co.
By: (Signed) H. C. WELLBORN
Agent"
BE IT FURTHER RESOLVED that the oheoks of the unsuooessful
bidders be returned forthwith.
PASSED AND ADOPTED this 19th day of February, A. D. 1926.
ATTEST:
CITY C LEi .