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HomeMy WebLinkAboutR-02811cr RESOLUTION NO. t511. A RESOLUTION AUTHUBIZIN1 BOND ANTICIPATION NOTES. BE IT RESOLVED BY THE COMMISSION OF THE OITTT OF MIAMI: Wootton 1. That in order to antioipate the receipt of the proceeds of the sale of $1,105,000.00 Bonds of the $1,606,000.00 Bonds authorised by Ordinance lo. 5Y9 for the purpose of advancing to the goverment of the United Stags or the Secretary of War funds to be expended in the proseos• tion of works of harbor improvement duly adopted and svtbor• Died by lsw of the United States being the deepening of tbs ship channel within Miami Harbor and the approaches thereto, which Bonds were ratified at an election held February 10th, 1926, a temporary loan of not exceeding 11,105,000.00 is hereby authorised, to be evidenced by negotiable notes of the City of Miami, bearing interest at not more than six per oentus per annum and maturing not later than February loth, 1929. Section 2. That the Director of Finance be, and he is hereby, delegated with the poorer to negotiate said notes at one time or from time to time and to fix the denomination or denominations, the aggregate amount, the rate of interest and the maturity or maturities thereof. Seotion 3. That said notes shall be signed by the Mayor and City Clerk, attested by the City Manager and sealed with the seal of the City and the interest coupons thereto attache& shall be signed by the City Clerk whose signature upon said ooupons may be in facsimile. Section 4. That the form of said notes and interest coupons shall be in substantially the following form: • IJ1� 1 .1 .2,6 j L 2S?// / ifaiksrir ,. The C ty of Miami, in Dade County, Florida, is justly in- - t.b-ted-A.ad._ for value received hereby promises to pay to bearer on , 19, the sum of Dollars UNITED STATES OF AMERICA STATE OF FLORIDA COUNTY OF DADE CITY OF MIAMI BOND ANTICIPATION NOTE -I il\r1 110. "DOCUMENT INDEX n with interest thereon at per centum per annum, payable on the day of and at maturity hereof as evidenced by and u'—`pon the presentation and surrender of the anted interest ooupons as they severally fall due. Both principal and interest on this note are payable at in the City of , State of in $1 money of the United states. for the prompt payment hereof, both principal and interest as the sane shall fall due, the full faith and credit of said City of Miami ere hereby irre- vocsbly pledged. This note is given for money borrowed in the amount of the fade of this note, in anticipation of the reoeipt of pro- ceeds of bonds of the City of Miami heretofore duly authorised by an ordinance of the City Commission thereof and ratified by a vote of more then s majority of the electors who are freeholders of said City voting thereon at an election legally called and held, said bonds baying been authorised for the pur- pose of advancing to the Government of the United States or the Secretary of War funds to be expended in the prosecution of works of harbor improvement duly adopted and authorised by law of the United States, being the deepening of the ship channel within Miami Harbor and the approaches thereto, and this note is issued under the authority of and pursuant to the provisions of the charter of said City aE Miami and in pertioular, Section 58 thereof and a resolution duly passed by said City Commission. It is hereby certified and recited that all acts, condi- tions and things required by the Constitution and laws of Plori- de, including said City Charter, to happen, exist and be per- formed precedent to and in the issmanoe of this note, have happened, exist and have been performed in regular and doe form and time as so required and that the total indebtedness of said City, including this note, does not exceed any ooneti- tutional or statutory limitations thereon. IN WITNESS WssaEOF said City of Miami has caused this note to be signed by its Mayor and City Clerk, attested by its City manager, and sealed with the City seal, and the an- nexed interest coupons to be signed with the facsimile signa- ture of said City Clerk, all as of the day of 192. Mayor ATTEST: City Clerk nager I do hereby approve the within note. COUPON. City Attorney No. On , 192 , the City of Miami, Florida will pay to tearer the sum of Dollars at in being be semi-annual interest then due upon its Bond Antici- pation Note dated , 192_. city clerk Section 5. . The proceeds of said notes shall be used solely for the purpose for whioh said bonds were authorised. Wootton 6. Thst this resolution Shall as in twos spot its Pinar. PASSED AND ADOPTED this Nth asy of Jim, A4 Di 19066 ATTEST: