The URL can be used to link to this page

Home My WebLink AboutO-087368. O IRANCE NO, 8736 AN ORDINANCE At'THOR1ZI IO THE ISSUANCE) SUBJECT TO THE ELECTION HEREIN PROVIDED FOR, OP , 000, 000 S'TORN SkWER IMPROVE- MENT BONDS OP THE CITY OF M AMI FOP, THE PURPOSE OF PAYING THE COST OF ST'GPN SEWER IMPROVEMENTS; PROVIDING THAT THIS ORDINANCE SHALL GO INTO EFFECT IMMEDIATELY UPON I' S PASSAGE; AND DISPENSING WITH THE READING OF THIS ORDINANCE ON TWO SEPARATE DAYS BY A VOTE OF NOT LESS THAN POUR -FIFTHS OP THt COMMISS tON. BE IT ORDAINED BY THE COMMISSION OP THE CITY OP M AMI: Section. 1. For the purpose or paying the cast of storm sewer improvements in the City of Miami, including storm sewers, pumping stations and outlets, culverts over or enclosing streams,, wells, other types of local drainage fatilit .es, the relaying of any damaged streets or sidewalks, and the acquisition of any necessary lard, there shall be issued under the authority of the Constitutiot and laws of the State of Florida, including particularly the Charter of The City of Miami, Florida, and the Municipal Home Rule Powers Act, Chapter 166 of the Florida Statutes, and subject to the election hereinafter provided for, bonds of The City of Miami, Florida in an aggregate prin- cipal amount not exceeding rifteen Million Dollars, ($15,000,000), such bonds to be issued at one time or from time to time and to mature as follows: Years after Principal Years after Principal Date or Dates Amount Date or Dates Amount 2 $ 445,000 12 $ 795,000 3 470,000 13 845,000 4 500,000 14 8959000 5 530,000 15 945,000 6 560,000 l0 1,005,000 7 595,000 17 1,065,000 8 630,000 18 1,130,000 9 670,000 19 1,195,000 10 710,000 20 1,265,000 11 750,000 - 1 - MR•99 it being esti oat d adeclared by the City Commission that %ta probable life or said storm sewer improvenetts is more than twenty (20) years of ter the eomplet on of constru tin of said improvements. Such bands shall be in the den natioft of $5,000 each and shall bear interest at a rate or rates not to exceed the rate provided for in the statutes of the State of Florida, as shall be determined at the time of sale thereof, such interest being payable semi-annually, and both the principal of and the interest on such bonds shall be payable at a bank or trust company in the Borough of Manhattan, City and State of New York, or at a bank or trust company in the City of Chicago, Illinois, or at a bank or trust company in the City of Miami, Florida, at the option of the holder or registered owner. The Commission of The City of Miami reserves the right to make all or any part of such bonds redeemable prior to their respective maturities at such times and prices and under such terms and conditions as May be fixed by resolution prior to the sale of said bonds,. Section 2. For the prompt payment of the principal of and the interest on such bonds, there shall be levied and collected annually an ad valorem tax upon all taxable property within The City of Miami, over and above all other taxes authorized to be levied by such City, sufficient to pay such principal and interest es the same respectively become due and payable. Section 3. A special election is hereby called to be held on the 7th day of March, 1976, for the purpose of submitting to the electors of the City authorized by law to participate in such election the question whether such bonds shall be issued, 1 Section 4, Pursuant to Section 8 of the Charter of The City, this ordinance shall go into effeet immediately upon its passage and shall not be subject to tht right of referendum, Section S. The requirement of reading this ordinance on two separate days is hereby dispensed with by a vote of tot less than four -firths of the members of tht Commission tf The City of Miami. PASSED AND ADOPTED thi th day of January, 197 , MAURICE AI FERRE MAYOR ATTEST: H G. ONGIE Orr =RI( PREPARED AND APPROVED BY: ,z„,(7 l A sIS AeNT CITY ATTORNEY AP 0 AS TO FORM AN CORRECTNESS: (.;?) 16- 7L-1 GEORG . Ei4OXI JR. CITY TTCRNEY STATE or PIM= COUNTY OP DADE CITY GP MIAMI t, AALp13 G. 0NGIE, Clerk of the City of Miami► Florida do hereby certify that the attached and foregoing pages numbered 1 through 3, inclusive► contain a true and correct copy of an ordinance adopted by the Commission of said City at a meeting held on the filth day of January, 1978, designated Ordinance No. 8736. WITNESS my hand and the Official Seal of the City of Miami, Florida, this 12th day of December, 1978. PALM G. ONGIE CITY CLERK CITY 0P MIAMI, FLO1ttDA MIAMI REVIEW'S AND DAILY RECORD ANA btily amp Math% kalif eId Wei Hendon Mast, bah row, Platt& trAlit OP PLORMA COUNTY OP DADE: Deters the uotlerilrod SOWN& oottenolly role Sarin 91fIlitente, IMO Oft pith WI that the Me DIN Logo Adil ef the 111/111W ono oily. **tont (fhttapt Satupeay, Untie, ana County, manila: that the attached enpy.Of Civet. Dsehlent, being a legal Advertiseffleht Or Notite 1h the Matter of City of Miami, Florida Rat ORDINANCE NO. 8736 lfi the XXX COM. was 001,46116d In Said newspaper 111 the laurel 61 anuary 17, 1978 Want further says that but said Miami Silvia* and Daily Record 16 a_hawapaper published et FAWN. In Said Dado County, Florida, end that the sold hawk. paper has haretotora been contlnuoutly published in said bade County. Florida. Path day (extant Saturday. Sunday and Legal Holiday!) and has been entered as second class Mail Matter at the past cat* in MIMI, in said Dade 'County, Florida. fOr 9 period of one year next pretediris the first Publication 6f the attached Copy of advertisement: and aft further says that the ha either paid not promised any Penton. firm or cor r tion any discount, rebate. commission Or refund for the purpose Of securing thlti advertisement for pu litstion in the Sal he paper. SWe 11.91....di bt yoC). 444n No4i his AlAarnmissien aspires CITY OP MIAMI, DADE COUNTY. IPLIRIDA 'LEDA*. 'NOTICE I All interested take flatlet that dri the ii th day of Amory, the City tbillfhltilbil nt Mlaml.Pforida passed sod OdoOfols fho ino fined Ordlosote: , ORDINANteNO. ea AN °ROMANCE AU1140R1tIN0 THE ISSUANCE, SUIS. Jett TO THe ELECTION HEIttIN PROVIDeb POR, 115,000,000 STORM SEWER IMPROVEMENT BONDS OP 114 titY Of MIAMI POI/ THe PURPOSe OP PAVING THE COST OP STORM eWelt IMPROVEMeNTS: PROVIDING THAT THIS ORDINANCE SHALL GO INTO ePrEtt IMMeDIATELY UPON ITS PASSAfle; AND DISPENSING WITH THe IteADIND OP THIS ORDINANCE ON tWO SEPARATE DAYS PY A VOTE OP NOT LAM THAN POUR•PIPTHS OP THE COMMISSION. RALPH O. °NOM CITY CLERK Pubilcation 61 thlt MAC* On the I/ day of January. WS. 1/1/ M 011t29 Cr", s NITIVOPPIDE MEMORANDUM llamas 8I Condemn Director Department of Finance wee: William E. parkas 4000Director Department of public Works $15,000,000 Storm Band issue Memorandum of Approval. SAW December 8, 19 eu.it 14tPENtNCts: ME eNeosullt*t (2) Sample Retaliations am 1 S Sgt1'1 1 e prd -na ce Attached is a memorandtinm with the City Manager's approval to begin preparation of documents for Commission action relative to a new $15,000,000 Storm Sewer Bond issue. We have also enclosed a sample ordinance and sample resolution authorising and providing for, respectively, the issuance of •$15,000,000 Storm Sewer Bonds of the City of Miami. These documents have been prepared by this depart- ment and apply specifically to the Storm Sewer Bond issue, The other enclosed document is a copy of the resolution providing for the holding of a special bond election on June 30, 1970. We hesitated to prepare a new resolution for the holding of an election since the corrections required appear to be too numerous and involved in matters unfamiliar with the duties and functions of this depart- ment. These documents are furnished so that you may include them in the initial package to the bond counsel for his perusal. We would also like to point out that time is of the essence now, and that all resolutions and other supporting documents should be pre- pared in time for Commission action at the ,January 11, 1978 regular Commission meeting. This means that all documents should be in the City Manager's custody by December 28, 1977. If we can be of further assistance to you in any way, please contact Mr. Jim Kay of this department, and he will be glad to help you. WEP:JJK:vh cc: City Manager C11'1' OP NW" rLORrA 'tNflfl�ORR' CS MCMORARDUM Joseph R. Orassie City Manager pites William R. Parkes AikDirector Department of public Works IIAft: taint iltRtittNeti November 30, 1977 s«t: tNeumuittt, New $15,000,000 Sturm Sever Bond Issue At the present time there is approximately $2.8 million remaining in unspent funds from the Storm Sewer improvement Bond account, By ap- proximately June, 1978 all of these remaining funds will be spent or encumbered through contracts on projects in Capital. improvements Ordinance No. 8716. In order for the City to continue with a Storm Suer Bond program it is imperative that a new $15, 000, 000 Storm Sewer Improvement Bond issue be placed before the electorate for approval in the near future. Dade County has scheduled a countywide election to be held on March 7, 1978. It is this department's recommendation that at that time to submit to the electors of the City the question whether such bonds shall be issued. Upon your written approval at the bottom of this memorandum, the Director of the Department of Finance will instruct the Bond Counsel to prepare the necessary documents to ensure that all requirements are net in order to submit to the electors of the City the question whether $15,000,000 in Storm Sewer tmprovement bonds shall be issued. „...'"'NA* APPROVE�' ,efe'.r' WEP:JJK:vh- cc: City Manager �; fMttplt (1. tingle, Clerk of the City t t ami, fldr da, beteby tiertity farm on tire... /&. day _ .r...�.� A, t,, 107S,.. t tuM, ins and tot '"" opy t t1 ablve an.) ►fig ollinance was pored it tth Multi D or of the Dade County t u t tloote :et At pMvideo nr hOtiCit and pub#eaiion% by utakhHtrg aaio Copy to the plate provided therefor. WITNESS my land d the official gal et Cur. thl day ....A. n.