HomeMy WebLinkAboutR-03046RESOLUTION NO. 3046.
A RESOLUTION AUTHORIZING AND DIRECTING THE CITY
MANAGER AND DIRECTOR OFFINANCE TO EXECUTE CERTIFI-
CATES OF INDEBTEDNESS IN THE AMOUNT OF SIXTY-THREE
THOUSAND DOLLARS.
BE IT RESOLVED BY TF COMIt.MISSION OF THE CITY OF MIAMI:
Section 1. That the City Manager and Director of Finance be,
and they hereby are, authorized to sign and execute six (6) certifi-
cates of indebtedness payable to the order of G. H. Curtiss in the
aggregate amount of Sixty-three Thousand Dollars (063,000.00),
numbered 41 to 46, both inclusive, each of said certificates to
be in amount of 010,000.00 except No. 46 which shall be in amount
of 013,000.00, and shall bear interest at the rate of six per cent.
per annum.
Section 2. That the Certificates of Indebtedness hereby author-
ized shall be payable as follows:
No. 41, for Q10,000.00, 1927
No. 42, for 610,000.0O3 1928
No. 43, for 10,000400, 1929
No. 44, for 010,000.00, 1930
No. 45, for : ;10,000.00, 1931
ITo. 46, for ;13,000.00, 1932.
Section 3. That said Certificates shall be paid from revenue
derived from the operation. of the Hialeah Golf Course and the Di-
rector of Finance is hereby authorized and directed to reserve from
such revenues each year that such certificates shall be outstanding
a sum sufficient to pay said. Certificates and interest thereon as
they mature; provided, however, that in the event such revenues
derived: from operation of the Golf Course shall not be sufficient
to pa;,' said certificates u,'ith interest, such acficit shall be made
ur, from the ?publicity Fund for the year in which such Certificates
mature.
PASSED An ADOPTED this Sth day of November, A. D. 1926.
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CITY COMMISSION
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