HomeMy WebLinkAboutR-77-0275RESOLUTION NO 77 27
A RESOLUTION FIXING CERTAIN DETAILS CON-
CERNING $13,000,000 SANITARY SEXIER SYSTEM
BONDS, 0,000000 STORM SEWER IMPROVEMENT
SONDs, $5,000,000 STREET AND HIGHWAY 1M-
PROVEMENT SONDS, $3,000,000 POLICE HEAD-
QUARTERS AND CRIME PREVENTION PACILITItS
BONDS AND $5,000,000 FIRE FIGHTING, Mkt
PREVENTION AND RESCUE FACILITIES BONDS
OP THE CITY OF MIAMI, FLoRIDA, AND DIREC-
TING PUBLICATION OF NOTICE OP SAL OF SAID
BONDS
WHEREAS, the Commission of the City of Miami
(hereinafter sometimes called the "City Commission'') on
the 18th day of November, 1976, duly passed and adopted the
following resolutions providing for the issuance of bonds of
the City of Miami (hereinafter sometimes called the "City"):
Resolution No. 76-1060, providing for the issuance
of not exceeding $25,000,000 Sanitary Sewer System Bonds, to
consist of 5,000 bonds of the denomination of $5,000 each,
said bonds to be issued at one time or from time to time and
to be dated and sold as hereafter provided by resolution or
resolutions of the City Commission, and to mature as follows:
Years After Principal Years After Principal
Date or Dates Amount Date or Dates Amount
2 $1,350,000 12 $1,300,000
3 1,350,000 13 1,300,000
4 1,350,000 14 1,300,000
5 1,350,000 15 1,300,000
6 1,350,000 16 1,300,000
7 1,350,000 17 1,300,000
8 1,300,000 18 1,300,000
9 1,300,000 19 1,300,000
10 1,300,000 20 1,300,000
11 1,300,000
Resolution No, 76-1059,
providing for the issuance
of not exceeding $10,000,000 Fire Fighting, Fire Prevention
and Rescue Facilities Bonds, to consist of 2,000 bonds of the
denomination of $5,000 each, said bonds to be issued at one
time or from time to time and to be dated and sold as here-
after provided by resolution or resolutions of tie City Com-
mission, and to mature as follows;
"DOCIIMENT INDEX
1,
CITY COMMISSION
MEETING OF
MA132 4 1977
REVI,UTIQM
x.fax+-lftt l�.�
YEARS AFTER PF?t!CIF'AL YEAR".. f\rtl:•: PRINCIPAL
DATE OR DATES AMOUNT DATE Ok 7ATES At•IOUNfi
:130 , 200 12 .F, 5z.5,000
530 .00;^, 12 525,000
* 530,000 14 52 5. 000
lt'?, 0oC' 1 -5 5,25.000
6 530.000 16 525.000
7 ""5 . n•n0 17 525.000
n 525.000 IR 525.000
7 r"- r 0rY, 1 i r 2 r., , 000
in 525.000 20 525,000
'INERtAS THE CITY COb+"tlS"=:J ),I t;!r TH': 21Rt) {'AY OF JULY. 1970 DULY
PAS' ED AND AnoF) rE'' TH": F:ILLOW I N <' )L'.1T I O?. PPOVIDIMG FOP THE I SSJANCE OF
INC rDLLowttJ'., 90':t?s or Tf1E CI +Y:
Puri O't !i^.. 417 ,1 . PR lt„ t i �;' ro:r THr ISSUANCE. OF %O r EXCE''D I N
POLIC+: id'"ADUAP,TERS AND CF..1 _ PqEVLNTION FACILITIES BONDS, TO
CONSIST OF .i''t' 'sOttD:> Or TH7 DE0'11':ATt7!; +: i1!li'. EACH. SAID flO`•i'J:i TO 13E
1 ^SUrD A7 O. T I 't: F+ ,+b1 TIME TO T i''r A':tm TO 9' DATED AN'+ SOLO A" HERE:-
Af-1'R P:1OV1').' 9Y rE"'AUT10N OF F.'c_SLI»PT1 :t!S )'' "H': CITY COMMISSI ON, AND TO
f!ATLN E !S FOLLOWS:
Y1:A7? G.fTE.^ PRINCIPAL YEAFA iTER
DATE OR tJATE .;❑ DA ES
rt+r
. 12
1.15 ^07 1.'3
1 . �I.;.- . Oir) 14
1,30n 10
1 C5 .007 17
1 .0,5.000 20
1.07..500
PRINLIPAL
AMOUNT__
1 o50.0^G'
1.050,000
1,050,000
1,0504000
1 . 50, 000
1,050,000
1,050.000
1 .0.i0.000
RE SOLU1 1 n'. 9o. 417178, PROV I O I'!f, FOB THC ISSUANCE OF NOT '.'XCEED I NG
7. .01,'.>0' SANITARY SEWER BONDS T`.) CD""'I'." or ,020 Sol DS OF THE DENOMINATION
^..r tr,.'N' + EACH. CAIt) BONDC TO 9E ISSUED AT ONE TIME OR FROM TIME TO TIME AND
TO 1E 'DATED AND SOLD A!' HEREAI'T1_R PROVIDED ,3Y RESOLUTION OR RESOLUTIONS OF
+NC CITY C 1•if!ISSI) , AND TO MATURE AZ 1CLEOWS:
YEARS AFTER
E'ATI f% pATr^.
10
11
PRINCIPAL
_AMOUNT__._.
,2, .050, 000
2,059,0X
2 , 01-7 0, ^00
2,150,000
50,000
2,050,000
2, 050,.000
2, 050, 00n
2,050,0,00
2,050,000
YE:A'4 3 AFTER
PA Tr. 01 D +,TES
PRINCIPAL
AMOUNT
12 ',500, 000
13 500, 000
14 5OC, 000
500,000
16 500, 000
17 5 00, 000
13 5 00, 000
10 500,000
go soo, occ>
•
•
AND
,
AEREA5, THE CITY COMMISSIoN oN THE 13TH DAY OF N4Y, 1971; DULY
PASSED AND ADoPTED THT. roLLowiNG RESOLUTIONS PROVIDING FIR THE ISSUANCE
or ;Joins or tHE CITY OF vMt
RESOLUTION No6 42483. PROVIDING FOR THE ISsUANCE or Not EXCEEDING
10.0004000 STORM Scwcr 1MPROVEmENT
To co'NSIST or 2.000 BONDS OF THE
mENOMINATION or V.000 EACH; SAID SONDS TO 1E ISSUED AT ONE TIME OR FROM TIME
TO tImr AND TO DE DATED AND SOLD AS HEREAFTER PRoVIOED BY RESOLUTIOR OR
RESOLUTIONS OF THE CITY COMMISSION) AND TO MATURE AS FOLLOWS:
YEARS AFTER
DATEOR DAT7-",
3
t.
PRIHCIPAL
ANDUNT
t':3CI.10VC
r3a).00n
F30.0()
720.000
,- • 01.7r
.75 .
".7E . 0f10
nry)
YEARS AFTER
01;TF, OR DATCS
17
19
PRINCIPAL
/M0tPiT
,25.000
F'27),00,1
57-0000
2F.000
I725.000
527,.000
525.0r)0
RENOLOTIN !!o, 4?414, rc,;:. THE IS'AJANCE) OF NOT EXCEEDING
17,777,.Orr SI-HEET AC HIGHwAr ImPpRvEmENT TO c.!-)IsI or 3.47 LioNOS
or THC DE!,10MINATI3N or ';':1,5.00r; CACI') SAli) BONES TO BE ISSUED AT ONE TIME OR
SRDm TIME To TImE ANE TO DE DATEO AND notn AS HEREAFTER pROVICE BY
1ESDLUTr0'4 OP THE CITY CoMmiGSION; AND TO MATUPE AS FOLLOW':
YEAR' AFTEP
PATE_ OR DATES
r.
3
PEINCIPAL YEARS AFTER PRINCIPAL
AmlUmT DATE OR GATES AMOUNT
0,390,000 V" !:)390,000
1,300,000 13 3o0,000
1,300,000 14 295,000
1,73(3.01c, 15 335,000
1,300.000 1r) 7,85,noo
1 , 3qn• ncr 17 33!1,000
1,7,0,000 1 385,000
1,90,100 1 385.000
335,000
1,3r!0,000
WV,R7:AS, EACH OF SAID 'RESAUTION provInc5 THAT ALL OR ANY PART or
THE BONDS THCPCIN AUTHORI7FD MAY 9C MAOF RcorrAat.r PRIOR To THE'R RESPECTIVE
mATNRITIFS, Al Suo: T!mEs AN PRICE5 A:;c: Uo:DER SUCH TERNS ANN coNDITIONS- AS
Tpr CITY Com1is5!om ',HALL 07TE.Nmi,4- kr PE:;oLmrION PRIOR TO THE SALE OF THE
p,0,105, ANI, :HAT PoTH -NE PRINCIPAL OF AND THE INIEREsT or THE BINDS SHALL BC
PAmA,sLE AT A '4;NK Or Titu5T I:0HR,*,NY IN THE BORCNT,H OF IIA,,HATTAN) CITY AO) Si ATE
cF oR AT 4 t'ANI", Or TRUE)" Co!!PANY IF. THE CITY OF CHICAGO, ILLiNolS) OR
4.
AT A BANK OR TRUST COtAPANY t tHt CITY Or ::IAMI4 FLOPIOA. AT THE OOTION OF
THE HOLDER OR PEclIZTERED ovvicr, AN)
W5REAS. NONE or THE AUTIIORI7r.n ;A1,ITARY Sc':ER SYSTEH
IOD! 10.1rr.n(r FIGHTIN. FIR .N...EVrNTIO.4 AND RESCUE FACILITIES
BonHAV7: 37EN 1:13UED: AND
W1EREAS. THC CITY HA-, HEETolORE 15UED 5.0.noo0 STREET AND
1IOHWAY ItiRo.oVNT nAlfl JUE 1. 1 AND MACH 1 1 .;.17,0(7,0.000
POLICr. HEAD 'UART-: A;:n CPI:1EFPNT FACILIT;ES DATED vo\niounLy
criom OCTO3r 1. 1 TO iCTOIIER. 1. 197H STOW' SEWER 1MPROYEtIENT
3obn!;. VAPIUaY rho,i 1 IT7 TO 1A7-:CH I, 1'17r, AY)
SA%1ITArfY 1EWEP 30%tv:, f:ATCO VAPiOUSLY riCT=5Er. 1 1971", TO OCTOBER 1, 17377s,
THEREDY REMICl/!,, THE AUT110r17rn 3N UNI53"TU7) P7-)RTIT:--, Or :,/410 BOND
AUTHORIZA111%s T 00.A7,()
1-•Ir CITY COW17!;1'.P; HV; DFTURED:
(A) 7%ifT .2.,7./."r"7" Pr,INCIPP. A*10tr,T Or SAO AUTHORIZED NT
'.;FWE:; SYStro1W1Dr= SHALL CoI 1TCF 2.500 Bors
Or TW: (FN"wIATIe+- or r.ACH Ii AI.L9t t:;UED Win AT 'HIS
vm TO qE HAT). NIPI3EsEn AND TO k1A-70“7 An HCREIAFTER PROYIDiTO'
(3) THAT 21.0')f),',M I:J PRINCIPAL ANOUNT or SAID AUTHORIZED BUT
URIS,,UED POLICE HEAD,AlAkTCR'; AND CRWE PREvEt:TION FACILITIES 3o,:o.
HALL Cw:SIIT OF 602- BON'.3 or THr IENOINAlION or EACH AND SHALL SE
ISSUED AND SOLD AT PHIS SAin 3ONO5 10 OC DATED, TO BE r,:wincRco AND TO
'IATUVE HEPCfNArT-: PnOVI0EL,'
(C) THAT IN PPINCIPAL AIIOUNT or sAtn AUTHORI7E0 BUT
UNISSUED 10,090.110
FIRE Fl(-.13TIN:7.. FIRE PREVENTION AND
Rrscuc FAciLmen
3ONDS, SHALL or 1.00n BOND!, oTHE DENONPIATION or 't*r- ,000 EACH AND SHALL BE
idaUed and SOld at thisthI tithe id bonds to be dated to he
numbered and_ to Mature- 6.8 hereinafter prOvided;
(d) that $2,000,000 ih principal amount of said
authorited but unissued $',100.1008tOttri Sewer Improvement
Bonds shall consist of 400 bonds of the denomination of
$5000 each and shall be issued and sold at this time, said
bonds tO be dated, to be numbered and to mature as herein-
after proVided;
(e) that $5,000,000 in principal amount of said
authorized but unissued $12.:17r,,lcr Street and Highway improve-
ment Bonds shall consist of 1,000 bonds of the denomination
of $5,000 each and shall be issued and sold at this time,
said bonds to be dated, to be numbered and to mature as
hereinafter provided;
(f) that none of said bonds shall be redeemable
prior to their respective maturities;
(g) that the principal of and the interest on
said bonds shall be payable at the banks hereinafter desig-
nated; and
(h) that the sale of said bonds shall be held and
notice thereof given as hereinafter provided; now, therefor
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. There shall be issued and sold at this
time said Sanitary Sewer System Bonds in the aggregate
principal amount of Thirteen Million Dollars ($13,000,000),
being a portion of the $2E,000,000 bonds authorized as
hereinabove described. Said. bonds shall be dated as of the
lst day of May, 1977, shall consist of 2,600 bonds of the
denomination of $5,000 each, numbered 1 to 2,600, inclusive,
and shall mature, without option of prior redemption, In
numerical order, lowest numbers first, on the lst day of May
6
in the
tiVeiy:
idw,t years mid in the folotin-
Year o'
M4titr ty
1979
1980
1981
1982
1983
1984.
1985
1986
1987
Principal
A o_unt _:
$740,000
740,000
740,000
740,000
740,000
740,000
720,000
720,000
720,000
Year of
Mat rlt:Y.
•1988
1989
• 1990
1991
1992
1993
1994
1995.
1996
1997
amounts, reaped..
Prindipa
$720,000
630,000
630,000
630,000
630,000
630,000
635,000
635,000
635,000
625,000
Section 2. There shall be issued and sold at
this time said Police Headquarters and Crime Prevention
Facilities Bonds in the aggregate principal amount of
Three Million Dollars ($3,000,000), being a portion of
the $ 3,000,000 bonds authorized but unissued as herein-
above described. Said bonds shall be dated as of the
1st day of May, 1977, shall consist of 600 bonds
of the denomination of $5,000 each, numbered 1 to 600,
inclusive, and shall mature, without option of prior
redemption, in numerical order, lowest numbers first, on
the 1st day of May in the following years and in
the following amounts respectively:
Year of
Maturity
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
Principal
Amount
$145,000
150,000
150,000
150,000
150,000
150,000
155,000
160,000
160,000
160,000
Year of
Maturity
1989
1990
1991
1992
1993
1994
1995
1996
1997
Principal
Amount
$170,000
170,000
170,000
170,000
170,000
155,00o
155,000
155,000
155, 000
Sect .on 3, There shall be Issued and sold at
this time said Fire Fighting, Fire Prevention and Rescue
Facilities 5onds in the aggregate principal amount of
Five Million Dollars ($5,000,000), being a portion of
7
the $10,000,000 bonds authorited but unissued at herein
aboVe deacribed2 Said bonds shall be dated as of the
lat day of May, 1977, shall consist of 1,000 bOnds
of the denomination of $5,000 each, numbered 1 to 1,006,
inclusive, and shall mature, without option of prior
redemption, in numerical order, lowest numbers first,
on the 1st day of May ih the following years and
in the following amounts, respectively:
Year of
MAturitY
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
Principal
Amount
$265,000
265,000
265,000
265,000
265,000
265,000
265,000
265,000
265,000
265,000
Year of
KOuritY
1989
1990
1991
1992
1993
1994
1995
1996
1997
Principal
_Amount_ _
$265,000
265,000
260,000
260,000
260,000
260,000
260,000
260,000
260,000
Section 4. There shall be issued and sold at
this time Storm Sewer Improvement Bonds in the aggregate
principal amount of Two Million Dollars ($2,000,000),
being a portion of the $2.00r.r bonds authorized but
unissued as hereinabove described. Said bonds shall be
dated as of the lst day of May, 1977, shall con-
sist of 400 bonds of the denomination of $5,000 each,
numbered 1 to 400, inclusive, and shall mature, without
option of prior redemption, in numerical order, lowest
numbers first, on the 1st day of May in the follow-
ing years and in the following amounts, respectively:
Year of Principal Year of Principal
Maturity Amount Maturity Amount
1979 $105,000 1989 $105,000
1980 1052000 1990 105,000
1981 105,000 1991 1052000
1982 105,000 1992 105,000
1983 105,000 1993 105,000
1984 105,000 1994 105,000
1985 105,000 1995 105,000
1986 105,000 1996 105,000
1987 1052000 1997 110,000
1988 105,000
-114 4'
Section 5. 'there shad be issued and sold at this
time said Street and Highway Improvement Bonds in the aggro=
gate principal amount of live Million Dollars ($5,000,000),
being a portion of the $ 1?,^7 .00r bonds authorized but unis-
sued as hereinabove described. Said bonds shall be dated as
of the 1st day of May, 1977, shall consist of 1,000
bonds of the denomination of $5,000 each, numbered 1 to 1,000,
inclusive, and shall mature, without option of prior redemption,
in numerical order, lowest numbers first, on the 1st day of
May in the following years and in the following amounts,
respectively:
Year of
Maturity
1979
1980
1981
1982
1983
Principal
Amount
$500,000
500,000
500,000
500,000
500,000
Year of
Maturity
1984
1985
1986
1987
1988
Principal
Amount
$500,000
500,000
500,000
500,000
500,000
Section 6. Interest on said Sanitary Sewer
System Bonds, Police Headquarters and Crime Prevention
Facilities Bonds, Fire Fighting, Fire Prevention and Rescue
Facilities Bonds,'Storm Sewer Improvement Bonds and Street
and Highway Improvement Bonds shall be payable semi-
annually on the 1st day of May and November in each
year, and both the principal of and the interest on said
bonds shall be payable at Chemical Bank in the Borough of
Manhattan, City and State of New York,
ental Illinois National Bank and Trust
City of Chicago, Illinois, or at the F
Bank and Trust Company, in the City of
or at the Contin-
Company, in the
orida National
Miami, Florida,
at the option of the holder or reg3.5tered owner,
9,
8dton 7, The Director of PinAnde ia hereby
authorized and directed to publish a notice calling fair
bid t for Said bOhd8 ih The natl. Herald and The Miami
Newt) daily newspapers of general circulation published
ih the City of Miami) and in The Daily bond Buyer) a
financial journal published in New York City and devoted
primarily to municipal bonds) each of such publications
to be made at least ten (10) days before the date for
the receipt of bids, which notice shall be substantially
in the following form:
NOTICE OF SALE
$28 000)000 BONDS
THE CITY OF MIAMI, FLORIDA
$13,000,000 Sanitary Sewer System Bonds
$ 3,000,000 Police Headquarters and Crime
Prevention Facilities Bonds
$ 5,000,000 Fire Fighting) Pire Prevention
and Rescue Facilities Bonds
$ 2 000,000 Storm Sewer Improvement Bonds
$ 5,000,000 Street and Highway Improvement
Bonds
Sealed bids will be received by the Commission
of the City of Miami, Florida, at its regular place of
meeting at 3500 Pan American Drive, Dinner Key, Miami,
Florida, until 11 o'clock A m 01/%0!I Timc, THURSOAY,
Pot. 14
• 1977,
at which time and place all bids will be publicly opened
and read, for the following bonds of the City of Miami,
Florida, all dated May 1, 1977:
101
$13060000 SANITARY SEWER SYSTEM InNb8j
maturihg antually, May 1) without
optioh of prior redetption
as follows:
Year of
Maturity
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
PrilldipAl. •
Amount
$740,000
740)000
740,0°0
740,000
740,000
740,000
720,000
720,000
720,000
720,000
Year Of
MAtutlY.
1989
1990
1991
1992
1993
1994 •
1995 •
1996
1997 •
PPihdiDA1
Amuht
$630,000
.630000.
630,000
630,000
630,000
635,000
635,000
• 635,000
625000
$3,000,000 POLICE HEADQUARTERS AND
CRIME PREVENTION FACILITIES BONDS,
maturing annually, May 1, without
option of prior redemption,
as follows:
Year of
Maturity
Principal Year of Principal
Amount Maturity Amount
1979 $145,000
1980 150,000
1981 150,000
1982 150,000
1983 1500000
1984 150,000
1985 155,000
1986 160,000
1987 160,000
1988 160,000
1989 $170,000
1990 170,000
1991 170,000
1992 170,000
1993 170,000
1994 155,000
1995 155,000
1996 155,000
1997 155,000
$5,000,000 FIRE FIGHTING, FIRE PREVENTION
AND RESCUE FACILITIES BONDS, maturing
annually, May 1, without option
of prior redemption, as
follows:
Year of
Maturity
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
Principal Year of Principal
Amount Maturity Amount
$265,000 1989 $265,000
265,000 1990 265,000
265,000 1991 260,000
265,000 1992 260,000
265,000 1993 260,000
265,000 1994 260,000
265,000 1995 260,000
265,000 1996 260,000
265,000 1997 260,000
265,000
•
11.
$2 000)000 STORM SEWER IMPROVEMENT 80ND8,
maturing annually, May 1, without
option of prior redemption)
aa follows
Year of
Matutitl
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
Principal
_Amouht,_
$105,000
105,000
105,000
105,000
105,000
105,000
105,000
105,000
105,000
105,000
Year of
Maturity
1989
1990
1991
1992
1993
1994
1995
1996
1997
Principal
_AmOght__,
$105,000
105,000
105,000
105,000
105,000
105,000
105,000
105,000
110,000
$5,000,000 STREET AND RIGliWAY IMPROVEMENT BONDS,
maturing annually, May 1, without option
of prior redemption, as follows:
Year of
Maturity
1979
1980
1981
1982
1983
Principal Year of Principal
Amount Maturity Amount
$500,000 1984 $500,000
500,000 1985 500,000
500,000 1986 500,000
500,000 1987 500,000
500,000 1988 500,000
Denomination $5,000; coupon bonds registrable
as to principal alone or as to both principal and inter-
est; principal and semi-annual interest (May 1 and
November 1) payable at Chemical Bank, in the Borough
of Manhattan, City and State of New York, or, at Continental
Illinois National Bank and Trust Company of Chicago,
Chicago, Illinois or at Florida National Bank and Trust
Company in the City of Miami, Florida, at the option of the
holder or registered owner; general obligations; unlimited
tax upon all taxable property within the City (excluding
homesteads).
The Sanitary Sewer System Bonds and the Fire Fight-
ing, Fire Prevention and Rescue Facilities Bonds were validated
by a judgment or the Circuit Court of Dade County, Florida, on
March 7 , 1977, the Police Headquarters and Crime Prevention
1
12.
PaCilities Bondt) the Storm Sewer ImproVetent Bonds and the
Street afid Highway ImproVement Bofidt were validated by A
judgthent of the Circuit Court of Dade County) Florida, on
StPT. 9t 127() JULY 2 1271 3 and JULY 26, 1271, reSpectiVelyl
tiddere are requeted to name the interest rate
or ratet, not exceeding 7 1/2% per annum) in multiples of
1/8 or 1/20 of 1%. Each bidder twat 8pecify in his bid
the amount and the maturities of the bonds of each rate)
and all bonds maturing on the same date must bear interest
at the same rate. No rate may be more than two times the
lowest rate named in the bid. No bond shall bear more
than one rate of interest which rate shall be uniform
for the life of the bond, and the interest on any bond
payable on any interest payment date shall be represented
by a single coupon. No bid of less than par and accrued
interest or for less than all of the bonds offered will
be entertained. The bonds will be awarded to the bidder
offering to purchase the bonds at the lowest interest
cost to the City, such cost to be determined by deducting
the total amount of any premium bid from the aggregate
amount of interest upon all of the bonds from May 1, 1977,
until their respective maturities.
Each bid must be submitted on a form to be fur-
nished by the undersigned and must be enclosed in a sealed
envelope marked "Bid for $28,000,000 Bonds", and must
be accompanied by a certified or bank cashier's or
treasurer's check for $560,000, upon an incorporated
bank or trust company, payable unconditionally to the
order of the City of Miami, Florida, on which no interest will be
allowed. Award or rejection of bids will be made on
the date above stated for the receipt of bids and the
checics of unsuccessful bidders will be returned imme-
diately. The Check; of the successful bidder will be
13,
held encashed as security for the perforMai e of his
bid but in the event that the successful bidder sham
fail to deMply With the terMt of his bid the check May
then be cashed and the prodeeda thereof retained as and
for full liquidated damages, Whenever such terms have
been complied with the check may be applied towarde
payment of the bonds, or if it shall be found impossible
to issue arid deliver the bonds, the check will be re-
turned.
The approving opinion of Drown, Wood, Ivey,
Mitchell & Petty) New York City, will be furnished with-
out cost to the purchasers of the bonds. There will also
be furnished the usual closing papers.
Delivery of the bonds will be made on or about
May11, 1977 in New York City, against payment therefor by
a certified or bank cashier's or treasurer's check drawn on
a New York City bank or trust company.
Copies of the Notice of Sale, bid form and the
Official Statement may be obtained by application to the
undersigned at Miami City Hall, 3500 Pan American Drive,
Dinner Key, Miami, Florida 33133, and from Brown, wood, Ivey,
Mitchell & Petty, 1 Liberty Plaza, New York, N. Y. 10006, Attention:
J. Guandola.
The right to reject any or all bids is reserved.
James E. Gunderson
Director of Finance
City of Miami, Florida
Set ion 8. The font referred to ih the Notice
of Sale set forth in Section 7 abcVe and obi whieh all bids
are re nested•to be made shall be substantialli as follows:
BI F0q BONDS
April 14 , 1977
Commission of the City
of Miami
City Mall
3500 Pan American Drive
Dinner iey
Miami, Florida 33133
Sirs:
We make the following offer for the bonds of the
City of Miami, Florida, mentioned below and described in the
Notice of Sale of said Bonds, which Notice is hereby made a
part of this bid, this offer being for all of said bonds and
not for less than all:
For $13,000,000 Sanitary Sewer System Bonds,
$5,000,000 Street and Highway Improvement Bonds, $5,000,000
Fire Fighting, Fire Prevention and Rescue Facilities Bonds,
$3,000,000 Police Headquarters and Crime Prevention Facili-
ties Bonds and $2,000,000 Storm Sewer Improvement Bonds
maturing and bearing interest as follows:
Street
and
Year Sani- Highway
of tary Improve-
Matu- Sewer ment
rity Bonds Bonds
1979 740,000
1980 740,000
1981 740,000
1982 740,000
1983 740,000
1984 740,000
1985 720,000
1986 720,000
1987 720,000
1988 720,000
1989 630,000
1990 630,000
1991 630,000
1992 630,000
1993 630,000
1994 635000
1995 635,000
1996 635,000
1997 625,000
Fire
Fight-
ing,
Fire
Preven-
tion and
Rescue
Facili-
ities
Bonds
Police
Head-
quarters
and Crime
Prevention
Facilities
Bonds
Storm
Sewer
Improve-
ment Interest
Bonds Rate
500,000 265,000 145,000 105,000 %
500,000 265,000 150,000 105,000
500,000 265,000 150,000 105,000 %
500,000 265,000 150,000 105,000
500,000 265,000 150,000 105,000 0
500,000 265,000 150,000 105,000
500,000 265,000 155,000 105,000 0
500,000 265,000 160,000 105,000 %
500,000 265,000 160,000 105,000 %
500,000 265,000 160,000 105,000 %
265,000 170,000 105,000
265,000 170,000 105,000
260,000 170,000 105,000
260,000 170,000 105,000 0
260,000 170,000 105,000
260,000 1550000 105000
260,000 155,000 105,000
260,000 155,000 105,000
260,000 155,000 110,000
1
1
15.
we will pay the following amounts
(1) $18000)000 for said Sanitary Sewer System tondsj
(2) $ 5000)000 for said Street and Highway Improve-
Ment 80ndS)
(.) $ 5,000,000 for said Fire Pighting ?ire Preven-
tion and ReScue Facilities tOnde,
(4) $ 3060)000 for Said Police HeadqUarters and
Crime Prevention Vacilities 8onds) and
(5) $ 2000)000 for said Storm Sewer Improvement tonds.
plus a premium of $ for all of said bonds,
which premium is to be allocated to each issue as prided
in said Notice of Sale, We will also pay accrued interest
on the bonds from May 1, 1977 to the date of their delivery.
We enclose herewith a certified or bank cashier's
or treasurer's check for $560,000 payable to the order of the
City of Miami, Florida, which check is to be applied or re-
turned in accordance with the Notice of Sale.
The closing papers referred to in the Notice of Sale
are to include certificates, dated as of the date of the
delivery of the bonds, with reference to the Official State-
ment, as provided therein, and stating that there is no liti-
gation pending or, to the knowledge of the signer of such cer-
tificate, threatened affecting the validity of the bonds.
Bidder
By
Title
(No addition or alteration, except as provided
aboVe, 13 to be made to this bid and it
must not be detaQhed from the
attached Notice of Sale.)
********
Pb ANt5 ADOPTEb•thi 14114..dav t f • -MA, m, r
1977.
rLAURICE A. FERRE
M A Y O 2.
ATTEST:
LPH G. ONGIE
CITY CLERK
PREPARED AND APPROVED BY:
ASSISTANT CITY ATTORNEY
PROVED AS TO FORM AND • RRECTNES C :
IEORGE F K •X, JR.
CITY AT '�� NEY
1
Joseph Rs Grassie
City Manager
cites r. Gunderson
irector of Finance
I1
March 3, 1977
New York Paying Agent
City of Miami Bonds
Agreement & : Resolution
The City of ;Miami has received an offer from Chemical Bank,
New York City, to be the City's Paying Agent for all future
bond issues. The offer as made is 50c per bond paid and
5c per coupon paid, 0n previous bond issues, the City has
paid Chase Manhattan Bank, New York City, $1,00 per bond and
9c per coupon paid.
The Chemical rank will not have a charge for the cremation
of bonds and coupons. The City in the past has paid Chase
Manhattan .06 per bond and .025 per coupon for cremation
fees.
The City, by selecting Chemical Bank as its New York Paying
Agent for its bonds, will reduce the Paying Agents' fees by
more than half. It is recommended that Chemical. Bank, New
York, be selected as the City's Paying Agent because of the
cost savings.
Attached is a resolution to be passed and adopted by the
City Commission, which authorizes the City Manager to enter
into a contract with Chemical Bank, New York, as the City's
Paying Agent for all future bond issues.
JEG/p
i
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Jost0H &, GRASSIE
CITY 1ANAGtR
f,t 1. L`- \1
J NEz C E. NoLON
IRtCT•F OF Ep gwcE
/ t—
E&RCR 1(; 1977
.!;!,.1;MOOOd §tatkiL b4LI At I
R¥d SAtt) «P:lL 14. 1011
ATTACHED IS A RESOLUTION FIXING CERTAIN DETAIL: CO cbAN|No ¥Hc !':28,g70,000.
CITY or H|A,I GC %RAL CiLIOAttOJ 30ND SALE SCHEDULED FT: APRIL 14, 1 77
CONSISTINO or:
Eto:ITAr,Y Sci' SY TE 3±3t
SToR§ SEWE2 IMPROVE ENT 3' mo
STrEET AND PIGHAAY I:i'JvEq 2! 3O D5
?OLICt Hew « $ »RfE2 Alb C» R± @REVS 4,0! FACILITIES
F$i: [,cHtiwt Ata V SOU GOuDS
§t3oLJTIOJ ±: THE vt:uDA Or THE KwRCH 7', l2T7 CITY Co' ISSION
§(tit: eLwt� fH2 .. .. . . .. .
[FETING.