HomeMy WebLinkAboutR-03024RESOLUTION NO. 3024.
A RESOLUTION AUTHORIZING, EMPOWERING AND DIRECTING.
Tilt CITY MANAGER TO ISSUE RECEIPTS IN NULLIRICAL OR-
DER AND IN THE FORM SET FORTH HEREIN FOR SUCH SUMS
OF MONEY AS MAYBE ADVANCED BY REALTY COIZANY
DF FLORIDA, OR JOHN S. PHIPPS, HENRY C. PHIPPS AND
HOVIARD PHIPPS, UNDER AGREELTUT BETWEW THE CITY or
MIAMI AND THIRD AVENUE COLTANY, DATED APRIL 16, 1926,
AS AMENDED BY RESOLUTION NO. 2792 OF THIS CO/MISSION
AND AN INSTRUMENT DATED JUNE 21, 1926.
UHEREAS, the City of Miami is now under the necessity of
calling for the advancement of funds to be umed as provided by
the terms of that certain contract between the City of Miami and.
Third Avenue Company, dated April 1G, 1926, as amended by a Reso-
lution No. 2792 and an instrument dated June 21, 1926, such sums
to be expended for the purposes of improvements upon Northeast
ThirdAvenue in the City of Miami, now called Biscayne Boulevard,
which improvements are embraced under Paragraph 3 of said contract
dated April 16, 1926, and from time to time in the future will need
to call for further funds for the purposes embraced in said. Para-
graph 3; and,
Whil-tEAS, this Commission has not heretofore provided a form
of receipt for advances made to be expended for the purpose em-
braced. in said. Paragraph 3;
NOW, THEREFORE, BE IT RESOLVED That the City Manager of the
City of Miami BE AND HE HEREBY IS authorized and directed on ac-
count of any and all advances hereafter made under or pursuant to
said agreement dated April 12, 1926, as modified by a letter and
acceptance thereof, dated June 21, 1926, which advances are made
for the purposes embraced under the provisions of Paragraph 3 of
ia contract dated April 12, 1926, to execute and deliver to the
person or persons making such advances under said agreement and
modification thereof as aforesaid, a receipt or receipts, or cer-
tificate or certificates of indebtedness, in substantially the
following form:
"DOCUMENT INDEX
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Series No. 2
No.
The City of Miami, Flori
indebted. to
Miami, Florida
1926
hereby aoknowledges itself
in the sum of
Dollars ($
this day advanced in cash by
to said City in accordance with the terms of a contract be-
tween Third Avenue Company, a Florida Corporation, and said
City, dated April 12, 1926, and a modification thereof, dated
June 21, 1926, which said contract and modification are made
a part hereof by reference.
Said sum of $ is to be used by said City for the
purposes set forth in paragraph 3 of said contract dated April
12, 1926; and said City of Miami hereby promises and binds it-
self to pay said sum of $ to said
with interest thereon from this date until paid, in accordance
with the terms of said contract and modification; time of pay-
ment of principal, rate and terms of payment of interest, and
all conditions under 1ghich this indebtedness has arisen and is
to be discharged being fully set out in said contract and modi-
fication, which are made a part hereof.
IId TES molly WHEREOF, said City of Miami, by proper rdso-
lution of its Commission, has caused its name to be signed here-
to by
its City Manager, this day of
1926.
By
City I.'anager.
PASS12D AND ADOPTED this 1st day of I;ovember, A. D. 1926.
ATTI2ST.
CITY CL11
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