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HomeMy WebLinkAboutR-02543RESOI3UTION NO. 2543. A RESOLUTIOIS AUTHORIZING (A,896,000 IMPR f ' O4 TNT BONDS, SERIES #Z'i • CITY COMMISSION MEETING OF RESOLUTION no 2.3........ REMARKS: ' BE IT RESOLVED BY TIE COLUOESSIn OF THE CITY OF MIAEI: Section 1. That the Commission has ascertained and does hereby find and declare: A. That after due advertisement for bide, contracts were let prior to May 9, 1925, for the construction of pertain local improvements theretofore ordered by resolutions duly passed and duly oonfirmed, each of said resolutions having declared the intention of the Commission to proceed under Section 56 of the charter and the confirmation of such resolutions having been preceded by due notice of hearing and by filing by the City I:anager at proper times and places of plans and specifications of each improvement and an estimate of the cost thereof; B. The followine schedule contains a true statement in its several columns of the following facts concerning the said improvements: Column 1. The designation of each improvement, the letter H indicating a highway improvement, the letters Sk a sidewalk improvement, and the letters Sr a sanitary sewer improvement, except that the designation Sr-102 indicates a storm server improvement. Column 2. The number of the resolution ordering each improvement. Column S. The date of confirmation of each resolution. Column 4. The total cost of eaoh improvement, including inoidental expense. DesiL.nation lumber Date of of of ILr roveiaeat Resolution Confirmation Total Cost Sk-50 Sk-51 S„ --52 Sk-5o Sk-6 H-`_`_ Sr-9C J - - :i :' Sr-100 Si.-102 1540 1541 Li.J 1542 1540 --' 1544 151E ....• ..1 1016 1017 a_ .1602 0 i..l.... 1656 C. That the amount July 22, 1924 July 22, 192n July 22, 1924 July 22, 1924 July 22, 1924 October 14, 1524 Jul;; 8, 1921 July 0, 1924 July 6, 1924 October 14, 1924 October 14, 1924 October 14, 1924 October 14, 1924 Total 2,63Z.68 2,215.42 27,149.07 21,625.86 28,210.7Z 6,614.50 4,001.08 4,016.81 1,902.62 700.69 4,704.23 4, 54�. 34 2,375.Z? 112,948.40 tea above as the total cost of sidewalk improverneats d.esi6liated Si:-50 to Sk-54, inclusive, qCVAWINVX ITEM NO 1 cost of ourbs and gutters constructed in connection with said improvements.. D. That the amount state& above as the total cost of sanitary iiMer improvement Sr-93 does not include the post of any sanitary sewer lateral connections to abutting property. F. That no funds of the City are now available to pay the City's share of the oost of construeting.sanitary sewer improvements designate& Sr-93 to 95 and. Sr-98 to 1©©, all inclusive. F. That after due advertisement for 'oicle, contracts were let after May 9, 1925, for the construction of certain other local improvements ordered by resolutions duly passed after said date and subsequently con- firmed by the Commission under said Section 56 as •mended by an act ap- proved Lay 9, 1925, the confirmation of such resolutions having been pre- ceded by due notice of hearing and by filing by the City Manager at pro- per times and places of plans and specifications of each improvement and an estimate of the cost thereof. G. That the ::ollot:ing schedule contains a true statement in its several columns of the folloviing facts concerning the improvements re- ferred to in subdivision F of this section: Col r,n 1. The designation of each irs_orovement, the letter H indicating a hi;hviay improvement, the letters Sr a sanitary sewer im- provement, provement . Column 2. The number of the resolution ordering, each improvement. Co:.0 n 5. The Gate of confirmation of each resolution. Column The Cit;".:.:.w;:;er's estimate of iiici (le.iUal e:_pense of each "SUPPORTIVE DOCUr.wiFNTS FOLLOW" . r oveme.1t. the letters Sal a sanitary sewer lateral im- Coltiu;in he cc, tr:..ct cost of each _. p:'ovw:eat. De' iC_.,_t:.o on :71;U-,'eer Date o:.' of of T.:iciLental Contract iL'1.01.._G_on on _l.L.a :.o ; se Cost ✓t tic , ..eL,tecler 4 1925 C .✓r-1, 2 _ Je: ,e:.:uer , 1955 160.1-1. r, �i C. F +1 ` `y r .. -vC 2 ✓aJ ',el: .- , uV .r.._ t,...c.• , .,..,,.,, a _ i vv Uy...oe^. N• , 1955 4'VV.4u H- 5u. .11.. .lte:.:eer 51, 1�55 09''.00 H- .,.lv Nr»r4J 4.,(:_+'Ge1..::E;2' Gi» �..i,aJ v,..u„ ?_ 4:71. ..J...`l.J ..;e72, teuuer 21, 1.925 a)9.12 11- 72 2117 _a. r 21, 1 92 L.17.95 :;a1J- ,:i.- 221'... ovelauer 16, 1925 eC6. L5 ,7. a7J- 5 25C9 -.-aveL uer 9 , 1925 19C . 60 ;c„M`" V 22,7 : Cve' i.Jer ', C1, 1925 1, 4: 2.56 E,02, .6v 1,015.50 1,9C2.C5 7 l5r: 00 913. 6C.) 6,56 .00 C,192.o 5,949.20 l , 207 . 6C 7,4 95.75 1,131.00 Cciulir 2. C: "wu 1a . Designation of Improvement Sall- 7 Sal- 8 SaL- 9 Sr-155 Sr-156 Sr-157 Sr-156 Sr-160 Sr-161 Sr-162 Sr-163 Sr-164 H- 308 I inb er of Resolution 2238 2239 2240 2229 2230 2231 2232 2233 2234 2235 2220 2236 2211 Dat e of Confirmat on November 30, November 30, November 30, November 30, November 30, November 30, November 30, November 30, November 30, November 30, November 23, November 30, November 16, • Totals 1925 1925 1925 1925 1925 1925 1925 1925 1925 1925 1925 1925 1925 Incidental Ex ense 1,063.72 914.45 955.49 828.31 1,060.22 333.60 297.04 132.13 212.64 834.56 870.07 2,428.88 13,882.23 Contract Cast, 6,986.60 5,993.20 6,608.50' 4,570.43 7,358.00 2,242.50 2,039.00 824.60 1,276.60 5,810.90 5,408.91 15,715.79 122,837.30 30,902.65 0251,706.58 H. That certain other local improvements have been ordered by resolutions duly passed by the 'Commission since May 9, 1925, under said. Section 56, as amended by an act approved May 9, 1925, which resolutions have been duly confirmed by the Commission after due filing by the City Manager of plans and specifications of each improvement and an estimate of the cost thereof, and after due advertisement of notice of hearing, all as required by said section as amended, but that no contracts have been let for any of such improvements and no award in eminent domain proceedings has been made for land, rights or easements necessary to be acquired therefor, except that contracts have been let for the construc- tion of the highway improvement designated as H-305, and the sanitary sewer improvement designated as Sr-182, and that the contract, cost for each of said two improvements is not less than the cost as estimated by the City I.:anager. I. That the following schedule contains a true statement in its several collIris of the following facts concerning the improvements re - (erred to in subdivision H of this section: Column 1. ?he designation of each improvement, the letter H indicating a highway improvement, the letters Sr a sanitary sewer im- ,)roverient, except that the designations Sr-180 and Sr-161 indicate a storm sewer improvement, and the letters Sig a e i dewa:.k imps ovement . i:.e number of she resolution oriierin each improvement. date of r2he 1La r ovea ent. co.uiruacion of each resolution. estimate of incidental expense o:1 each l r S ! F RTIVE _ .TS F♦ C i i Ll Column 5. The City Manager's estimate of the cost of eaoh improvement. Designation of Improvement H-273 H- 274 H-275 II-276 H-277 K-278 H-279 H-280 H-281 H-282 H-283 H-284 H-285 H-286 H-287 H-288 H-289 H--290 H-291 H-292 H- 293 H-294 H 295 H-296 Ii- 29 7 1 -298 H-299 H-300 H-301 - a,.r 2 H- 304 II-305 H-309 H-310 H-311 II-312 Sr-146A, Sr-159 Sr-165 Sr-166 Sr-167 Sr-166 Sr-169 Sr-170 Sr-171 Sr-172 Sr-173 2.r-174 Sr-177 Sr-176 Sr-160 3r-161 Sr-1E3 Si:- 63 rent J. Number of Resolution 2259 2260 2261 2262 2263 2264 2265 2266 2267 2268 2269 2270 2271 2272 2273 2274 2275 2276 2277 2278 2279 2280 2281 2262 2283 2284 2285 2266 22a7 2268 2290 2433 2212 2434 2435 2436 2291 2292 2313 2314 2315 2316 2317 2:;16 2319 2320 232'1 .iv22 2325 232E 2L2 2529 .06 ? uNy:: Date of Confirmation December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 .December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21:, 1925 March 1, 1926 November 16, 1925 January 25, 1926 January 25, 1926 January 25, 1926 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 2'1, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 21, 1925 December 1955 DeceIber 21, 1925 Duceuoer 21, 1925 January 11, .126 J r 1ue.ry 4, 1926 December 21, 1925 Incidental Estimate Expense 0f Cost 1,554.29 12,688.15 4,580.53 37,391.28 8,823.50 72,192.88 15,375.76 125,516.92 3,711.68 30,300.80 13,884.64 113,345.63 15,878.66 129,624.50 3,122.97 25,495.00 3,766.97 30,750.78 7,283.70 69,827.31 14,191.92 114,374.41 7,762.21 63,365.00 4,537.08 37,037.36 3,983.10 32,515.12 3,883.60 31,702.85 3,039,87 24,816.40 3,972.98 32,433.20 15,745.13 128,531.62 2,459.89 20,080.72 490.20 3,919.65 14,140.13 115,429.75 12,981.71 105,973.04 11,422.66 91,192.80 6,618.22 54,027.86 2,658.79 21,704.44 13,039.71 106,447.25 1,671.29 13,643.15 6,534.37 53,341.84 4,191.12 34,214.36 15,335.16 125,185.00 14,174.67 115,711.60 1,062.04 6,669.90 484.43 3,881.40 3,903.03 31,861.70 4,541.38 37,027.75 977.82 7,982.70 228.07 1,460.15 198.85 1,255.15 875.05 5,895.00 28.10 120.00 54.30 160.00 397.06 2,632.00 1,243.05 8,495.00 236.95 1,575.00 297.18 1,945.00 765.21 5,212.00 793.60 5,395.00 1,811.60 12,450.00 526.75 3,500.00 531.45 3,575.00 437.53 2,930.00 6,C73.76 55, 640.00 1,829.13 12,450.00 1,395.94 10,566.00 r4 r# ) 13,603.35 1, 34.42 2,962.55 24,184.65 `2ota''s 276,181.9 250.62 he r:.c x.ai cot of construo tir1C sanitary sever improve- .165 has not yet been accertLiaee. sV�T I `/- D(_ -: i�S FELL X. That it is advisable and necessary that bonds be issued for the following purposes: (1) To pay the cost and incidental expense of the improvements referred to in subdivision B of this section, except the coat of curbs and gutters in the sidewalk improvements there referred to,, and the cost of laterals in sanitary improvement designated as Sr-93; (2) To pay the cost and incidental expense of the improvements referred to in subdivision G of this section; (3) To pay the cost and incidental expense of the Improvements referred to in subdivision I of this seotion; (4) To reimburse any City funds from whioh any part of the cost of the improvements referred to in subdivisions B, G and. I have been paid or shall be paid before the receipt of the proceeds of the bonds herein authorized. Section 2. That the negotiable bonds of the City of Miami are hereby authorized in the aggregate face amount of :2,696,000, for the pur- poses set forth in subdivisionIC of Section 1 of this resolution, that face amount beiaL: not greater than the tot 1 cost including incidental ex- pense of the improvements referred to in the schedule in subdivision B of said Section 1, and the contract cost and e-timated incidental expense of the im;rovements referred tion 1, and the e ate& 13rcver:.ents referred to in Section L. ?hat to in the scheciule in subdivision G of said See - cost and estimated incidental e:;pense of the im- the selledule in subLivision I of said Section 1. said bonds shall be desicnated "Improvement 7onds, ries Z." a:1d shall be EateE liarch 1, 2.26, and shall consist of bo:Ids of a,uoo each, :i.ulaberecl 3aa to 91,f1S, both Llclusive, and 1,ear in.terest at rr,rc'n and L,et-or a.nauta, 1-1a,;able seLli-aally on he first days of oC.:.1 :„Tes.r 1:Lon -Gnu -ro-zentation of couons to be attaolled to saiu intereLt to be -)Luable ia cola coin of 1:11ited ,:;tLstes of tile -rese'at c:ua of weiLl) L-ad fineness at the United :;(;f.oruL Trust CoLicany in t:le Cit.,: of 1:QW ctioa r?nat Lid bo.:4dsiiL11Lature, without 07:ticiloL r or L,,LLent, on 2rc:1 1 as:!...:x1.7 in nuericul orde2, lowest n1Labers irct, as :.a(1),C00 1)27 to iuclusive, and :;2(:.6,CC,0 1KO. :ectioa L. 21:L.t said bonds shlal be , cned by the 1:a-dor and. City Cler7,: of the Cite of under its cororate zeal, and attested by the Director of Finance, and, the interest coupons thereto attached shall be execute& with the facsimile signature of said City Clerk. bondand coupons and the provisions for registration to be endorsed on the back of each bond shall be in substantially the following form: No. 01,000 UNITED STATES OF AITRICA SUPPORTIVE' STATE OF FLORIDA DOCUMENTS COUNTY OF WIDE CITY OF illA111 FOLLOW" IMPROVEYENT BOND SERIES Z ISSUED UIrte SECTION 56, CITY CHARTER AS AMELDED The City of Viami in. Dade County, Florida, is indebted. and hereby, promises to pay to the bearer, or if this bond be registered to the registered owner hereof, on Larch 1, 19 , the principal aim of CIE THOUSAIM DOLIARS with interest thereon at the rate of five per century per annum payable on the first days of March and September of each year upon the presenta- tion and. surrender of the annexed interest coupons as they severally become due. Both principal slid interest of this bond are payable in gold coin of the Unite& States of the present standard of weight and fineness at the United tates Mortgage & Trust Company in the City of 1:ev. Yor2,,:. For the -prompt payment hereof and the interest hereon as the saue shall fall due the full faith, credit and resources of said. City of L:iami are hereby irrevocably laeaged. This bona is one of a series issued for the purpose of paying the cost of street ;_ad irmrovements aaa sewer construction within and for the said City, under the authority and ithin the limitations of anC. in full col:r21iance with the Charter of said and in .articular tion thereof, as ame.Ided, ana a resolution duly adolyted by the Com- lilission thereof. :t is hereb: certified L...nd recited that all acts, conditions and this rued to e::ist or be done :recedent to aua in the issuance of this bond E::.(1 Charter aria the laws and. Co:Istitution of saia State have spay aila have been -L:erforrLed; that rovis.oJi has been mace for the levy and collection of a direct annual taz lion all table prop- erty within said' City sufficient to pay the interest aai. .Drincipal of this bond as the same shall become due; and that the total in&ebte&ueae of said City, including this bon& does not exceed any constitutional or statutory limitation. his bond is registrable as to principal only in accordance with the provisions endorsed hereon. IN WITNESS WiEtibOF said City of Muni has caused this bond to be signed by its Mayor and Clerk, under its corporate seal, and attested by its Director of Finance, and the interest coupons hereto attached to be, signed with the facsimile signature of said Clerk, all as of tha first day of March, 1926. Attest: Iio. Director oi Finance (CCUPON) kayor City Clerk "e Li 'i-"P0., D C)C. .\1 S FOLLOW" 025.00 en the first day of 19_, the City of Mami, Florida, will pay to the bearer at the United States Mortgage & Trust Company, Yew York City, the sum of Twenty-five Dollars in gold coin, as provided in and for the interest then due on its Improvement Bond, Series Z, dated Larch 1, 1926, numbered City Clerk IL:V=E e: 301:11 This bond ma:, be registered c.s to :principal in the bond register of the Cit of riami, notation of such registry to be made hereon by the Director of :linance of said Cit:!,or such other :1,,ond Registrar as may be de if-nated 0 he Lovernin: "00(1-: of said Citz7, and maLl thereafter be trans- 1-erred on such ru,ister on1 u2on a written assignment of the registered owner of his attorne:!-, acknowledged or proved, such transfer to be endorsed hereon -1):: the :ond itegistrar. :-.;uch transfer .may be to bearer, and theyebz,, traiisa:eability b., deliver.; will be restored Lut this bond shall aL'ain be subject to successive registrations Lila transfers as before. ?he coupons will remain payable to bearer, notwithstanding the registration :,ttest: Date of Registry . • 000 •• •• • • • • 60 • • • of this bond. The prinoipal of this if registered, will be payable 0 to the registered owner or his legal representative. Name of registered Owner • • • • • • • • • • • • • Re gi s triw 4•4•41••••••Sw$4* ••••••• • • • it •• - Section 6. That said bonds shall be registrable as to principal alone, in aocordance with the provisions htreinbefore provided for en- dorsement upon the said bonds; and the Director of Finance is hereby ap- pointed and designated Bond. Registrar for the purpose of registering said. bonds. No charge shall be made to any bondholder for the privilege of registration herein granted. Section 7. That the principal and. interest of all special assess- ments which have heretofore been made or shall hereafter be made for any or all of the foregoing improvements, shall be placed in the fund known as "Improvement Fund :To. 19" created by Resolution No. 940, Passed August 21, 192., and shall be used only for the purposes for which the said. Im- provement Fund 7o. 19 vas created. Section O. That notwithstanding the foregoing provisions for the segration of special assessments for the payment of the bonds herein author- ized la other improvel:;,ent bonds ana the interest thereon, the principal and interest of the bonds herein authorized shall be payable from a eeneral to be levied upon all ta;:a'ele property in the City of Miami, sufficient in amount to meet the payment of the principal and interest thereof as the same shall fall due as provided by Section 56 of the Chartet now in force, and such levy shall be made in each year while the bonds herein authorized shall be outztline-7. eetion u::on the e::ecution of said bonds in the form here- illabove :2oviLeL, :Jh.J.11 be aeliverea to or u-zon oraer of StrLnehan HL,"1i2 L aceora,nee vit thef.r bid. of 1,L., w1ciiL.eoe-,tea by Reeolution ro. PA=D f2a) ;AY:P=1) thio 13th day of Yarch, A. D. 1026. I , Clerk