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HomeMy WebLinkAboutR-02676RLSOâ–ºLUTION NO. 2676. A RESOLUTION AUTHORIZING, EMPOwi{ING AND DIRECTING THE CITY MANAGER TO ISSUE RECEIPTS IN NUMERICAL ama IN THE FORM SET FORTH HMI IN FOR SUCH SUMS OF MONEY AS MAY BE ADVANCED BY THE y EMD AVENUE COMPANY UNDER AI AGREEMENT BETWEEN Tier, CITY OF MIL I AND SAID COMPANY DATED APRIL 16TH, 1926. WHEREAS, under date of April 12th, 1926, a certain offer was made to the City of Miami by the Third Avenue Company, a Florida corporation, looking toward the advanoement by said company to said City of certain sums of money to be used by said City in and about the extension and widening of North East Third Avenue in said City, which said offer was accepted on behalf of said City of Miami by the City Commission of said City, on April 16th, 1926; and Paragraph 7 of said contract contains, among other things, an agreement for repayment of amounts advanced by said com- pany under the provisions of Paragraph 3 of said contract by the issue and delivery to said company of certain bonds described and referred to in said Paragraph 7 of said contract and in other pto- visions thereof; and ;T :_3_iS, it is deemed wise that proper receipts should be given by said City to said Company for any and all amounts advanced in accordance with said Paragraph 3 and referred to in said Paragraph 7 as aforesaid; and 'r HER.SA3, an agreement has been reached by said Third Avenue Company and the said City of iriami as to the form of receipt to be given by said City in adkLnowledgment of advances made under said Paragraph 3, for which said bonds are to be issued in accordance with provisions of said Paragraph 7, which said receipt is as follows: No. LIALI, FLORIDA ,1926 The City of kiami, Florida, hereby acknowledges itself indebted to Third Avenue Company, a corporation. created and existing under the laws of the State of Florida, in the sum of DOLLARS (.1' This day advanced in Gash by said Company to said City in accordance with the terms of a contract between said company and said city Qated April , 1926, copy of which said contract is hereto attaohed. Said sum of $ is to be used by said city for the pur- poses set out in paragraph 3 of said contract; and said City of Miami hereby promises and binds itself to repay said sum of $ by the issuance and delivery of improvement bonds of said city to said Third Avenue Company, in accordance with the provisions of paragraph 7 of said contract, which said contract is ffiade a part hereof. And said city further agrees and binds itself to pay interest on said sum of $ at the rate borne by said improvement bonds when issued, from the date of this instrument to the date of issue of said improvement bonds, said interest to be paid in cash upon delivery of sai& bonds to said Third Avenue Company. In testimony whereof said City of Miami, by proper resolution of its Commission, has caused its name to be signed hereto by , its City Manager, this day of 1926. By City Manager. NOW, THEREFORE, BE IT RESOLVED, that F. H. Marton, City Manager, be and is hereby fully authorized, empowered and directed to issue re- ceipts in numerical order, upon the form aforesaid, for such sums of money as may be advanced by said company under said paragraph 3 of the contract aforesaid. 1'A.3.3_]D :JOETi D this 10th day of May, A. D. 1926. CITY COMMISSION MI:11 lt;G c ki,SOIUT ON ht). 2 6 "DOCUMENT INDEX ITmn NO.