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B/30/77
ORDI Al CZ NO, , . 7_11.
AN ORDINANCE AMENDING SECTION 1. OF ORDINANCE
NO, 8289 NUNC PRO TUNC SO THAN THE SAME SHALL
ALLOW BONDS OP THE CITY OF MUM TO PAY
INTEREST NOT TO EXCEED THE RATE PROVIDED FOR
tN TUE STATUTES OF THE STATE OF FLORIDA;
REPEALING ALL ORDINANCES IN CONFLICT HEREWITH
AND CONTAINING A SEVERAMILIfY PROVISION,
WHEREAS, on July 26, 1973, the City Commission passed
and adopted Ordinance No, 8177 which, in pertinent part, placed
on the ballot the question of whether Section S8(b) of the Charter
of the City of Miami should be amended by deleting the requirement
of 6% maximum interest and substituting the phrase, "Interest not
to exceed the rate provided for in the Statutes of the State of
Florida;" and
WHEREAS, said Charter Amendment was approved by the
electorate; and
WHEREAS, prior to the placement of the new language in
the publication of the City of Miami Charter by the Michie City
Publishing Co., Ordinance No. 8289 proposed an additional change
in Section 58(b) of the City Charter; and
WHEREAS, the prior wording showing an interest rate not
to exceed 67 per annum was inadvertently copied in Ordinance No.
8289; and
WHEREAS, it is now in order to correct said inaccuracy
nunc pro tune;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA;
Section 1. Section 1 of Ordinance No. 8289 be and it
is hereby amended nunc pro tunc to read as follows;
"The City Commission of the City of Miami hereby submits
he following proposed Charter Amendment for submission to the
electors of the City of Miami at the November 5. 1974 State of
Florida and Dade County General. Election, to become effective
December 1, 1974.
CHARTER AMENDMENT NO. 5
Section 58(b) of the City of Miami Charter. Chapter
10B47,
pecial Acts, Laws
nerd
9
as amended or supple
mented, is hereby amended to road as follows;
See, 511tb Denotttinationq interest; maturity,
Said bonds shall be in such denomination as the
ordinance shad prescribe and shall bear interest
not exceeding the rate provided for in the Statutes
of the State of Florida, both principal and interest
to be payable in getibieeinheral tender of the
United States flf -tile-presett:-staii irs-ef-we kt-and
f ixexess=-at-scare-ba>gk-er-tenet-eempany-it-the
State-ef-Pissida-el-in-any-etkes-state-ekes-may
be-psevided-in-said-evelinanee, The principal of
such bonds to be due and payable at such time or
times, not exceeding thirty (30) ears from the
date thereof, as the city commission may, in said
ordinance, determine, but not longer than the
probable life of any improvementfor, which the
same are issued, as estimated by the city com-
mission and declared in such ordinance.
Subject to_the provisions of the _resp respective
ordinances author zf ng µsuch;Uonds:; .the ,c[t.y,...com-
m3.isfon may b resolution ;con90 it ate_ into a
single; issue Yw or any part of_ the s
authorized ._b an two or more; such orcnance,s
an... approva ..,;..Y_ t: a rte„p_. ar, actor&.: :.. te. a city."
Section 2. That all laws or parts of laws in conflict
herewith be and the same are hereby repealed insofar as they are
in conflict.
Section 3. Should any part or provision of this ordinance
be declared by a court of competent jurisdiction to be invalid, same
shall not affect the validity of the ordinance as a whole.
PASSED ON FIRST READING BY 'TITLE ONLY this 23 day
of September 1977.
PASSED AND ADOPTED ON SECOND AND FINAL READING BY TITLE
ONLY this 13th day of October , 1977.
Maurice A. Ferre
ATTEST:
I t CL
MAYOR
PREPARED AND APPROVED BY:
MI ERSON
ASSISTANT CITY ATTORNEY
TO FOB! AND DORRECTNUS;
MIAMI ReVICW
AMO 'DAILY Paten
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Net
OVANANCE NO. 8711
in the , X Coto,
*et publithed in %aid nitimoipat In ilia Mittel eit
Oetaber 203 1977
Atfisnt further tayt that till UId Miami Review
and at natant It 1 itawatispet ISUblished at Mani.
It1 Said, Dada County. Plowea, and that the said news,
0011t he* hireofOro been ettfitIMMUilly pubilthad in
allid.bada County, FlOtidit. Oath day (Ostia sattpday.
Sunday and Legal P101idayt) and hat been Instated at
aabbtld Omit Mall mattet et the poet Office itt Miatni.
in laid Dada county,., Florldt, for a period et bflis year
Mott ptecedint the Mit publication of the attathad
troby of ameRiserneriti and Orient turthat taps that
the has neither paid nbt promoted any batten. turn
et bottettation any discount. tabate, cOmmisslon or
MUMS Mt this putpoee Of isteutitia this advartisernant
for publication In th6 toad newspaper.
Sworn to tied tubtcribed before me thii
..da of. Oct
Octelma V. rarbtotil
Notary Isubtie, testa of Flotida ul
(SEAL)
My Commission expires Juno Id. 1078.
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• tit6A1. wetter - -- ' .....' '
Ali intetetted *Iii flee ntif It* Mil Ott the iiiiidatettifitillakt
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too coo 'commotion at Miainli PIOtiOO ado le*
1
dittadta:
OOOINANCt NO. atit '" ' '
g ,
AN 1OINANCE AAketittitiO• tttt ION i -Otatfirtiet:
NO. MO TILINe POO TUNe SO TI4AiTtlelAmE SHALLAU,
LOW BONDS -OP 1114 CITY OP Mt TO PAY INTEIttST
NOt TO SOttri0./I4ajtA„TI P V b . *blaIN /At
1TATU1tror rirEyrAire P •OrPEAtilOr
ALL 000ltAltiett`1N tONPLitt 1411Partt4 AND ON.
TAININO A .,vti.,liktit.iTY,i1Rovtlipti.
o &LPN :11tari
CI'h' Cilt
jot2rubiltiltlort of thlt notice Oh the 20 day oi ()debar, 1411.
M inn/
1, Rob t Noe, Cleft 'of the City at Mitii, florid,
hereby genii), that en ttte,.4.P....day ....
D, 19..?•?.. a fats tilts and comet copy of the above
and •foregoing ordlitnittle *as posted at the South boor
tit the bide County Court Home at the place provided
rot milled Cid plibliestions by attaching mid copy to
tht pima proVidid thank*.
WITNIMS tity laiptiandth.offiele1 seal of
City Oita? „day of City b. 9
... . • .. 4.441,0•••*“.
`ity Clerk
Honorable Members of
the City Commission
�.L
t tl•
sEp rj Am II:
August 31, 1977
Ordinance Re Rate of
Interest on Bonds
Ordinance No. 8289
On July 26, 1973, the City Commission passed and adopted Ordinance
No. 8177 which, in pertinent part, placed on the ballot the
question of whether Section 58(b) of the Charter of the City of
Miami should be amended by deleting the requirement of 6% maximum
interest and substituting the phrase, "Interest not to exceed the
rate provided for in the Statutes of the State of Florida."
This Charter Amendment was approved by the electorate.
Prior to the placement of the new language in the publication of
the City of Miami Charter by the Michie City Publishing Co.,
Ordinance No. 8289 proposed an additional change in Section 58(b)
of the City Charter. The prior wording showing an interest rate
not to exceed 6% per annum was inadvertently copied in Ordinance
No. 8289. Therefore, it is now in order to correct said inaccuracy
nunc pro tunc.*
GFK : MEA : bk
Enclosure