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HomeMy WebLinkAboutR-76-1060RESOLUTION NO* t '6' .060 A RESOLUTION PROVIDING FOR THE ISSUANCE r(�/ OF 25, 000, 000 SANITARY SEWER SYSTEM •r I 1 V BONDS OF THE CITY OF MIAMI, FLORIDA. DOCUMENTS FOLLOW" 13E IT RESOLVED BY THE COMMISSION OF THE MIANI, FLORIDA Section 1. The Commission of the City of Mat ereinafter sometimes called the i1City Commission") ha ndand determined and does hereby declare that: (a) The City Commission on July 22, 1976 duly adopt 3.nance No. 8573 authorizing the issuance of bonds of City of Miami, Florida, in an aggregate principal ount not exceeding $25,000)000 for the purpose of pay - the cost of improvements and extensions of the sani- sewer system of the City of Miami, including the con ruction, reconstruction and extension of sanitary sewers dother sewer system improvements, intercepting sewers, rte mains, trunk sewers, pumping stations, outlets and nnections to the sewage disposal system of the City, the laying of any damaged streets or sidewalks, and the ac- isition of any necessary land, and on July 22, 1976 duly adopted Ordinance No. 8574, providing for the holding of an aection on September 28, 1976 for the purpose of submit- 'ng to the qualified electors of the City of Miami the uestion whether said $25,000,000 bonds should be issued. ,(b) Notice of said election was duly published in the ner and for the time required by law, and Inspectors and errs of Election were duly appointed and their names "DOCUMENT INDEX b ,i.shed as required by law, ITEM NO 1_ (r) Said election was duly and properly con' t -T� — eturns thereof were duly and are regularly certified 'the City Commission duly canvassed said returns and red . tho re,su.ts Of Paid election and caused thq-_ -44 CITY COMMISSION METING OF NOV t $ 1976 nc,�,�,,;����, tin i::- be recorded ih its MinuteSi all as provided by .aW) t appears from the returns of said election that the isst ga trice of said $25,000,000 bonds was approved by dote of a majority of the qualified electors of the City of Miami Voting thereon. Section 2. For the purpose of paying the cost of itch- prOVements and extensions of the sanitary sewer system of ;he City of Miami, including the construction, reconstrucffi tion and extension of sanitary sewers and other sanitary sewer improvements, intercepting sewers, force mains, trunk Sewers, pumping stations, outlets and connections to the sewage disposal system of the City, the relaying of any damaged streets or sidewalks, and the acquisition of any necessary land, there shall be issued, the negotiable cou- pon bonds of the City of Miami, Florida, in the aggregate principal amount of Twenty-five Million Dollars ($25,000,000), to be designated "Sanitary Sewer System Bonds" and to consist of 5,000 bonds of the denomination of $5,000 each. Section 3. Said Sanitary Sewer System Bonds shall be issued at one time or from time to time and shall be dated and sold as hereafter provided by resolution or resolutions the City Commission, and shall mature as follows: Years After Principal Date or Dates Amount $1,350,000 1,350,000 1,350,000 1,350,000 1,350,000 1,350,000 1,300,000 1,300,000 1,300,000 1,300,000 Years After Date or Dates principal Amount 12 $1,300,000 13 1,300,000 14 1,300,000 15 1,300,000 16 1,300,000 7. 1,300,000 18 1,300,000 19 1,300,000 20 1,300,000 op any part of said bonds may be made redeemable prior to r respective maturities, at such times and prices and der such terms and conditions, as the City Commission .s determnine by resolution prior to the sale of the bond, "SUPPORTIVE FOL' � YJ„ M▪ MMW M▪ IMMM MMMW MMEg MEM Ing aid bonds shall. bear interest) payable setilaanhUali-hy' oil the date or dates thereof at a rate or rate$ not exceeda. ng the rate legally permitted. Both the principal of and the hterest on said bonds shall be payable at a bank or trust com- pany in the Borough of Manhattan, City and State of New York, ✓ at a bank or trust company in the City of Chicago, Illinois, ✓ at a bank or trust company in the City of Miami, Florida, at the option of the holder or registered owner, in any coin ✓ currency of the United States of America which, at the respective dates of payment thereof, is legal tender for the payment of public and private debts. Section 4. Said Sanitary Sewer System Bonds shall be igned by the Mayor of the City of Miami by his facsimile signature and by the City Clerk, and a facsimile of the seal f the City shall be imprinted on the bonds. The interest coupons to be attached to the bonds shall be executed with the facsimile signature of the City Clerk. In case any fficer whose signature or a facsimile of whose signature shall appear on any bonds or coupons shall cease to be such officer before the delivery of such bonds, such signature or ::such facsimile shall nevertheless be valid and sufficient or all purposes the same as if he had remained in office until such delivery, and any bond may bear the facsimile signature of, or may be signed by, such persons as at the actual time of the execution of such bond shall be the proper officers to execute such bond although at the date of such bond such persons may not have been such officers. bonds and coupons and the statement of validation and prop visions for registration to be endorsed on the bond$ 5haI1 be sub$tantially in the following forms; f Uf--PORi t!E OCU M ENTS The tate8 of Aferida t .te Of Florida County of Dade THE CITY OF MIAMI AWITARY SEWER SYSTEM BOND ty of Miami, in the County of Dade) State o da, is justly indebted and for value received hereby bmises to pay to the bearer or, if this bond be registered o the registered owner hereof, on the 1st day of the principal sum of FIVE THOUSAND DOLLARS gether With interest thereon from the date hereof at the e.of percent ( %) per annum until payment r such principal sum, such interest to the maturity hereof, eing payable on the 1st day of and of in each year. Both the principal of this bond and, unless. his bond be registered as to both principal and interest interest hereon are payable at , in the Borough of Manhattan, City;an ate of New York, or at he City of Chicago, Illinois, or at , in the City of Miami, Florida, at the option of the holder or registered owner, in any coin or currency the United States �America which at the res- ective dates of payment thereof is legal tender for the payment of public and private debts. Payment of the inter- est on this bond to the maturity hereof shall be made only upon presentation and surrender of the coupons, if any, ►.epresenting such interest as the same respectively fall ,due; or, if this bond be registered as to both principal and terest, payment of the interest on this bond on any 3.nter. At payment date shall he made to the person appearing on "SUPD"rrritIr FCCL. v ,, bohd registra'tioh books or the City 8.8 the r 18tered her on the tenth (10th) day next preceding such interest paytttent date, such interest to be paid by check or draft in New York exchange trailed to the registered owner at his address as it appears on such registration books. For the prompt payment hereof and the interest hereon as the same shall fall due the full faith, credit and taxing power of the City of :Miami are hereby irrevocably pledged. This bond is one of a duly authorized issue of bonds of the City of Miami issued under the authority of and in full otnpliance with the Constitution and laws of the State of Florida, including the Charter of said City (Chapter 10847� pecial Laws of Florida, 1925, as amended), and pursuant to rdinances and resolutions duly adopted by the City Commission said City, for the purpose of paying the cost of improve — and extensions of the sanitary sewer system of the City including the construction, reconstruction and erasion of sanitary sewers and other sanitary sewer imr .rovements, intercepting sewers, force mains, trunk sewers,, limping stations, outlets and connections to the sewage dis oral system of the City, the relaying of any damaged streets'. sidewalks, and the acquisition of any necessary land, d the bonds of this issue were duly approved by vote of .a majority of ,the qualified electors of the City voting , (here insert redemption provisions, if any). is hereby certified and recited that all acts, cones ;ions and things required by the Constitution and laws of .$late of Florida to happen, exist and be performed prey edent to and in the issuance of this bond have happened, ist and have been performed in due time, form and manner &,s so required; that the total indebtedness of the City of. Tdi.am1, including this bond, does not exceed any constitu- anal or statutory limitation thereon; and .that provlsi":� 'SUPP RJR F O'... L been made for the 1:e/y a'tidYO011ettI0h..Off 814eCt tnu'' . upon all taxable property Within Laid City •sufricieit• to y the principal of and the ihterest oh this bond as the `same shall fall due. This bond may be registered as to principal alone and'. j.So as to both principal and interest in accordance with e provisions endorsed hereon. IN WITNESS WHEREOF, the City of Miatni has caused this id to be signed by its Mayor by his facsimile signature end by its City Clerk, and a facsimile of its seal to be imprinted hereon, and the interest coupons attached hereto to be executed with the facsimile signature of said City, Clerk, all as of the 1st day of , 19 . City Clerk orsements upon Bonds) STATEMENT OF VALIDATION bond is one of a series of bonds whichwere vali-' :judgment of the Circuit Court for Dade County, ren-. red on , 19 PROVISIONS FOR REGISTRATION ;Th-s bond may be registered as to principal in the-8q d . ;lSter of the City of Miami by the Director of Finance of d City as Bond Registrar or by such other Bond Registrar may be legally appointed by the governing body of said ity, notation of such registry to be made hereon by such Jo d Registrar, .and this bond may thereafter be transferred said 13ond Register only upon a written assignment of V " UPPOfT" Ir 1, 1� 11111111101191111 i19191111111111111I111111pp111111111111111111 111111111111 IIIIII I IIIIIII11111111 At Ved ov her OP big attorn ey; duly acktow .edged o1 oVed, such transfer to be endorsed hereon by the Bond egistrar. Unless this bond be registered as to both prin- dipal and interest, such transfer may be to bearer and thereby transferability by delivery shall be restored; Subject, however, to successive registrations and transfers is before. The principal of this bond, if registered, shall be payable only to the registered owner or his legal repre- sentative. Notwithstanding the registration of this bond, he coupons shall remain payable to bearer and shall continue be transferable by delivery, unless this bond shall be in like manner registered as to both principal and interest, notation whereof and of the cancellation of unmatured coupons to be made on this bond, after which registration both incipal and interest hereof shall be payable to the person n whose name it is registered, or his legal representative. to of Registry Registered Owner Bond Register. is hereby certified that at the request of the holder the within bond for its conversion into a bond registered o both principal and interest, the undersigned has this ;day cut off and cancelled all unmatured coupons attached ereto,-being in number, numbered from to , inclusive, of the aggregate face value of $ d'hat the within bond is hereby converted into a regis- red bond, the principal and interest of which are payable registered owner named in the registration blan1 above " UPPcp FOLLOW" t'i e re sredeht .ti?e, h I e t Ydt4k ekdhatige, State:, pond Re iStrar of the City W'of M3 thi Of Coupon's) the City of Miami, it the Will pay to bearer at in the Borough of City 'and Btate- I of New York, or at `in the City of Chicago, 111in os , in the City of Florida, at the option of the bearer, upon the presen- .tion and surrender hereof, the sum of Dollars in y,coin or currency of the United States of America which ,t the time of payment is legal tender for the payment of ::public and private debts, as provided in and for the semi- annual interest then due upon its Sanitary Sewer System Bonds, dated 1, 19 , No. (if said bond is subject to redemption, here insert in coupons representing interest payable after the first date on which said bond may be redeemed the words "unless said bond shall have been called for previous redemption and provision made for the payment thereof"). City " UPPOR T !VE FOLLOW" ....*.. ,•~61 t3i,e,n...e.ituulisMir :.h••, y'•W • • ' ,..-,,wwwmvtawas - .- tion 51 Title to any bond grid tb the iratere&t coUpoh8 eto appertaining shall pass by delivery ih the same manner . negotiable instrument payable to bearer unless such bond 1-8'Y'egistered in the manner therein provided. The bonds Shall be registrable as to principal alone and also as to both principal and interest in accordance with the terms and conditions provided in The Code of the City of Miami, Florida. No charge shall be made to any bondholder for Such privilege of registration. Section 6. Said Sanitary Sewer System Bonds shall be eneral obligations of the City of Miami, Florida, and for' the:prompt payment of the principal of and the interest on said bonds as the same shall fall due the full faith, cre- it and taxing power of the City of Miami are hereby irre- ocably pledged. Section 7. Pursuant to the provisions of the Charter the. City of Miami and of said Ordinance No. 8574, there tall be levied and collected upon all property within the 'City of Miami subject to taxation for such purposes, in each year while any said Sanitary Sewer System Bonds shall :. be outstanding, a special tax sufficient to pay the prin- ipal of and the interest on said bonds as the same res- pectively become due and payable, and to provide for prob- able failures of collection of such tax in such year. Such ax shall be levied and collected at the same time and in e same manner as ad valorem taxes levied for operating expenses of the City and shall be in addition to all other taxes authorized to be levied by the City of [Miami. The City covenants that it will not accept payment of taxes. e.ved for operating expenses of the City unless there shall: be paid at the sarne time the tax levied to make the princi., and interest payments required by this resolution. Section 8, A part of the cost of the sanitary sewer ovement;s for: w.hl ch ;said bonds are to be issued may ),: "t�s • 10$ cifi iisSion of the City of Miami shall So deterfiuine, be acially assessed in the manner and to the extent authorized and provided by Section 56 of the City Charter, as amended, and any other applicable laws of the State of Florida, and if any special assessments shall be levied on account of any such sanitary sewer improvements, the annual tax levy pro - aided for by Section 7 above may such amount, if any, as may have be reduced in any year by been set aside and is then held for such purpose in the special fund in which the pro- ceeds of such special assessments shall have been placed. Section 9. The proper officers of the City of Miami are hereby authorized and directed to take appropriate pro- ceedings for the validation of the Sanitary Sewer System Bonds herein provided for. Section 10. This resolution shall be in full force and effect immediately upon its passage. PASSED AND ADOPTED this 18 day of • RALPH G. ONGIE CITY CLERK PREPARED AND APPROVED BY: .;7 ROBERT F. CLARK Assistant City Attorney NOVEMBER MAURICE A. FERRE ._ z 4.,/( APPROVED AS TO FORM AND CORRECTNESS: O OE RGE F. KNOXT, JR. City Attorney MAYO R , 197 ''SUPPORTIVE 'S +PpofTIv OC1JME.NTs FOLLOW" CITY OF FLC':DA d Nil 422 It?. Joseph R. GtassLe City Naetaget= J ''es Et Gunderson D).tector of Finance November 83 1976 FILE• Resolution Ptoviding for the Issuance Of $251000,000 Sanitaty Set4et System Bonds P4 L t,Ars: 'Please place on the agenda of the November 18, 1976 City • Commission meeting, the attached resolution providing fot the issuance of the $25,000,000 Sanitaty Sewer System Bonds, which were voted on at the September 28, 1976 election. The adoption of the resolution is a necessity Yr'l;it i'JC` to the 1' f i ''C ','^il idat ion of the bonds. A copy of the resolution has been forwarded to the City. Attorney for his signature. LUTION 'I OVID114C� FOR TIE ISStJA� C 25 ,�00 OOO sA IITARt�' SEWERS ` T1 D OF THE CITY OF t.1IAI•II FLORID IT RESOLVED By THE COVI8SIO1 OF THE CITY Or FLORIDA Section 1. The Commission of the City of Miami (hereinafter sometimes called the "City Commission") has found and determined and does hereby declare that: (a) The City Commission on July 22, 1976 duly adopted Ordinance No. 8573 authorizing the issuance of bonds of the City of Miami, Florida, in an aggregate principal amount not exceeding $25,000,000 for the purpose of pay-- ng the cost of improvements and extensions of the sani— tary sewer system of the City of Miami, including the con— struction, reconstruction and extension of sanitary sewers and other sewer system improvements, intercepting sewers force mains, trunk sewers, pumping stations, outlets and connections to the sewage disposal system of the City, the relaying of any damaged streets or sidewalks, and the ac— quisition of any necessary land, and on July 22, 1976 duly adopted Ordinance No. 8574, providing for the holding of an e).c Lion on September 28, ] 976 for the purpose of submit — to the qualified electors of the City of Miami the question whether said 4 25, 000, 000 bonds should be issued. Notice of said election was duly published in the. the t Lme required by law, and Iri;pector, :qec!tio.6were duly appoin ed• and their naves required by la , cgnauct duly and ar , re u1 rLy certif f dt) y canvas c c :s'.Id. .'cqur;;,s 11C- or ME- MW • ded ih its f inutes5 'all as lrovided by law, an appears fron the returns of said election that the is$u" ttice of said $2530003000 bonds was approved by vote of a Majority of the qualified electors of the City of Miami voting thereon. Section 2. For the purpose of paying the cost of im- provements and extensions of the sanitary sewer system of the City of Miami, including the construction, reconstruc- tion and extension of sanitary sewers and other sanitary sewer improvements, intercepting sewers, force mains, trunk sewers, pumping stations, outlets and connections to the sewage disposal system of the City, the relaying of any damaged streets or sidewalks, and the acquisition of any necessary land, there shall be issued, the negotiable cou- pon bonds of the City of Miami, Florida, in the aggregate principal amount of Twenty-five IZillion Dollars ($25,000,000), to be designate.: "Sanitary Sewer System Bonds" and to consist of 5,000 bonds of the denomination of $5,000 each. Section 3. Said Sanitary Sewer System Bonds shall be ssued at one time or from time to time and shall be dated and sold as hereafter provided by resolution or resolutions f the City Commission, and shall mature as follows: -Years After Date or Dates Principal Amount $1,350,000 1,350,000 1,350,000 1,350,000 1;350,000 1,350,000 1,300,000 1,300,000 1,300,000 1,300,000 Said bonds may Years After Date or Dates 12 13 14. 1.6 17 18 19: 20 be made Principal Amount $1,300,000 1,300,000 1,300,000 1,300,000 1,300,000 1,300,000 1,300,000 1,300,000 1,300,000 redeemable prior to maturities, at such tines and Prices and d eoc d tienR as t:he. City Cemmis*loh shall or to the aale or the bone. MIIMME 111111 i 0111 mmEmw EMEND IIIIB MMW MMM MEM mow mmw '1111111111,11111.1.1.1111111.11111111111111P1.........1.1.11.1...1.1.. WEIL aw. iME !45 15; A,-bendStha11-„bear,intOeSt4pAyablt tetiatahhUallit. tthe date or dates thereof at a rate or rates net eXCeed.- the rate legally permitted. Both the principal of and the OtereSt on said bonds shall be payable at a bank or trust com- pany 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, in any coin Or currency of the United States of America which, at the respective dates of payment thereof, is legal tender for the payment of public and private debts. Section 4. Said Sanitary Sewer System Bonds shall be Signed by the Mayor of the City of Miami by his facsimile Signature and by the City Clerk, and a facsimile of the seal of the City shall be imprinted on the bonds. The interest eoupons to be attached to the bonds shall be executed with the facsimile signature of the City Clerk. In case any pffleer whose signature or a facsimile of whose signature Shall appear on any bonds or coupons shall cease to be such officer before the delivery of such bonds, such signature or Such facsimile shall nevertheless be valid and sufficient for all purposes the same as if he had remained in office Until such delivery, and any bond may bear the facsimile signature of, or may be signed by, such persons as at the actual time of the execution of such bond shall be the proper . . officers to execute such bond although at the date of such ondsuch persons may not have been such officers. The bonds and coupons and the statement of validation and pro visions for regiztratton to be endorsed on the bonds -1:18,13, e pvly,stantially in the foll.owing foril:s; d bonds shall bear interest , payable semi aritiva11y 3 i m the date or dates thereof at a rat- or rates not exceed - the rate legally permitted. Both the principal of and the interest on said bonds shall be payable at a bank or trust com- tiny 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, Zit the option of the holder or registered owner, in any coin br currency of the United States of America which, at the respective dates of payment thereof, is legal tender for the payment of public and private debts. Section 4. Said Sanitary Sewer System Bonds shall be signed by the Mayor of the City of Miami by his facsimile signature and by the City Clerk, and a facsimile of the seal of the City shall be imprinted on the bonds. The interest coupons to be attached to the bonds shall be executed with the facsimile signature of the City Clerk. In case any officer whose signature or a facsimile of whose signature shall appear on any bonds or coupons shall cease to be such officer before the delivery of such bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes the sane as if he had remained in office until such delivery, and any bond may bear the facsimile signature of, or may be signed by, such persons as at the actual time of the execution of such bond shall be the proper officers to execute such bond although at the date of such pond such persona may not have been su2h officers. The bonds and coupons and the :statement of validation and pro- U3ions fop reAation to be endorsel on the bond shall substant3.a1ly in the f.0110 ;:I_ng forts; -- States of America S a e 0 t t f FloVida County of Dade THE CITY OF MIAMI SANITARY SEWER SYSTEM BOND The City of Miami, in the County of Dade; State Of ltida, is justly indebted and for value received hereby Aptomises to pay to the bearer or, if this bond be registered,; to the registered owner hereof, on the 1st day of the principal sum of FIVE THOUSAND DOLLARS ogether with interest thereon from the date hereof at the Ate of percent ( 5) per annum until payment of such principal sum, such interest to the maturity hereof being payable on the 1st day of and of in each year. Both the principal of this bond and, unless this boni be registered as to both principal and interest; the interest hereon are payable at , in the Borough of Manhattan, City and, State of New York, or at in the City of Chicago, Illinois, or at , in the City of Miami, Florida, at the option of the holder or registered owner, in any coin or rrency of the United States of America which at the res- lpective dates of payment thereof is legal tender for the jyfilent of public and private debts, Payment of the inter t on this bond to the maturity hereof shall be made only k,vpon presentc,tion and surrender of the coupons, if any, representing such interest as the same respectively fall this bond be registered as to both principal and , payi:.?flt of the Interc145 on this bond on any Interr• - - ,...•• be mide tp the peon appearIngon = bond rogistratioh boobs o the City aS the registered; r`fer on the tenth (10th) day next preceding such interest payrtieht date) such interest to be paid by check or draft in New York exchange mailed to the registered owner at his address as it appears on such registration books. For the. prompt payment hereof and the interest hereon as the same shall fall due the full faith, credit and taxing power of the City of Miami are hereby irrevocably pledged. This bond is one of a duly authorized issue of bonds of the City of Niami issued under the authority of and in full compliance with the Constitution and laws of the State of Florida, including the Charter of said City (Chapter 10847, Special Laws of Florida, 1925, as amended), and pursuant to ordinances and resolutions duly adopted by the City Commission of said City, for the purpose of paying the cost of improve- ments and extensions of the sanitary sewer system of the City of Miami, including the construction, reconstruction and extension of sanitary sewers and other sanitary sewer im- provements, intercepting sewers, force mains, trunk sewers, pumping stations, outlets and connections to the sewage dis- posal system of the City, the relaying of any damaged streets or sidewalks, and the acquisition of any necessary land, and the bonds of this issue were duly approved by vote of a majority of ,he qualified electors of the City voting thereon, (Here insert redemption provisions, if any) is hereby certified and recited that all acts, con- o!Is and things required by the Constitution and laws of Stage., of Fioreda to happen, exist and be performed pro - and in the i nuance of this bond have happened, t and have been performed in due time, form and manner o required; that the total indebtedness of the City of Including this bond, does not exceed any constitu= statutory 1 nitat ion thereon; and that pro vi51Q11 een made ro't°' the Jetty and collettior'L Of tlir2ct .t htta1 upon all takable property Within said City Sufficient to `Pasi the principal of and the interest on this bond as the Attie shall fall due. This bond may be registered as to principal alone and also as to both principal and interest in accordance With the provisions endorsed hereon. IN WITNESS WHEREOF, the City of Miami has caused this bond to be signed by its Mayor by his facsimile signature •.`end by its City Clerk, and a facsimile of its seal to be imprinted hereon, and the interest coupons attached hereto to be executed with the facsimile signature of said City ':Clerk, all as of the 1st day of , 19 City Clerk ndorsements upon Bonds) STATEMENT OF VALIDATION s bond is one of a series of bonds ted by judgment of the Circuit Court for ;tiered on , 19 PROVISIONS FOR REGISTRATION `trend irtay be ' registered as to principal in the `Bond er -of the City of Miami by the Director of Finance of as Bond Registrar or by such. other Bond Registrar which were vali Dade County be legally appointed by the governing body of said Qtat.on of such registry to be Trade hereon by such LAstrar, and this bond may thereafter be transferred 1d Register Only upon a w ten assignment of the' ered ``oWher or his attor? eY, duly acknowledged Or (Wed) such transfer to be endorsed hereon by the Bond egistrar. Unless this bond be registered as to both prin.. dipal and interest, such transfer may be to bearer and thereby transferability by delivery shall be restored, subject, however, to successive registrations and transfers as before. The principal of this bond, if registered, shall be payable only to the registered owner or his legal repre- Sentative. Notwithstanding the registration of this bond, the coupons shall remain payable to bearer and shall continue to be transferable by delivery, unless this bond shall be in like manner registered as to both principal and interest, notation whereof and of the cancellation of unmatured coupons is to be made on this bond, after which registration both principal and interest hereof shall be payable to the person in whose name it is registered, or his legal representative. Date of Registry Registered Owner Bond Register • ♦ •. • .♦ ♦ • •, • • • • ♦ • • • • ♦ • • • • • • • • ereby certified that ` at the request of the holder the within bond for its conversion into a bond registered to both principal and interest, the undersigned has this ;`.cut off and cancelled all unmatured coupons attached ?t�ptcx, he try,; in number, numbered from to inclusive, of the a greg'ate face value of u`_that t,hc within bond is herb.y cc_nverted into a regis.• horld, the pa•inelpal and interest of which are payable • 1; steried owner named n the regicitration blar}k gbQve 8 4ai repte8ehtatiVet i NeW YOrk eltehdrige,. Registrar of the City Of WiaMi rm Of Coupons) 19 the City of in the of Dade State of Florida, will pay to bearer at in the Borough of nhattan, City and State of New York, or at in the City of Chicago, Illinois, rat' in the City of Florida, at the option of the bearer, upon the presen- ation and surrender hereof, the sum of Dollars in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts, as provided in and for the semi- annual interest then due upon its Sanitary Sewer System Bonds, dated subject to redemption, here insert in coupons representing interest payable after the first date on which said bond may 1, 19 , No. (if said bond is. '12e redeemed the words "unless said bond shall have been ealled for previous redemption and provision made for, the, Yllent thereof"), =-= iont e to any bond and to the interest coupons eto appertaining shall pass by delivery in the same manner s a negotiable instrument payable to bearer unless such bond 8 registered in the manner therein provided. The bonds shall be registrable as to principal alone and also as to both principal and interest in accordance with the terms and conditions provided in The Code of the City of Miami, Florida. No charge shall be made to any bondholder for such privilege of registration. Section 6. Said Sanitary Sewer System Bonds shall be general obligations of the City of Miami, Florida, and for the prompt payment of the principal of and the interest on said bonds as the same shall fall due the full faith, cre— dit and taxing power of the City of Miami are hereby irre— vocably pledged. Section 7. Pursuant to the provisions of the Charter �f the City of Miami and of said Ordinance No. 55714, there shall be levied and collected upon all property within the City of Miami subject to taxation for such purposes, in each year while any said Sanitary Sewer System Bonds shall be outstanding, a special tax sufficient to pay the prin— cipal of and the interest on said bonds as the same res— pectively become due and payable, and to provide for prob— able failures of collection of such tax in such year. Such tax shahbe levied and collected at the same time and in the Lame manner as ad valorem taxes levied for operating expenses of the City and shall be in addition to all other ;a.xe.e authorized to be levied by the City of nami. The ty covenants that it ;•.i11 not accept payment of taxes vied for operatin , expense of the City unless there shall' Paid at the same time the tax levied to make the princiw" d _interest payments required by this resolution, .Section 8, A part of till co. t of the sanitary 5e'4er ol,w;en s for,.which said ponds are to be iP5 ed Tr; ..' 0 COMMissi.on of the City of th.ami shall so determine, be Specially assessed in the manner and to the extent authori2eci Arid provided by Section 56 of the City Charter, as amended, S d any other applicable laws of the State of Florida, and if any special assessments shall be levied on account of any "such sanitary sewer improvements, the annual tax levy pro- Vided for by Section 7 above may be reduced in any year by such amount, if any, as may have been set aside and is then held for such purpose in the special fund in which the pro- •seeds of such special assessments shall have been placed. Section 9. The proper officers of the City of Miami are hereby authorized and directed to take appropriate pro- ceedings for the validation of the Sanitary Sewer System Bonds herein provided for. Section 10. This resolution shall be in full force and effect immediately upon its passage. PASSED AND ADOPTED this 18 day of R=.LPH G. ONGIE CITY CLERK PREPARED AND APPROVED BY: ROB3DRT F. CLERK Assistant City Attorney NOVEMBER MAURICE A. FERRE APPROVED AS TO FORM AND CORRECTNESS; GSORC City Attor eY 4 • RIR STATE OF FLORIDA ) COUNTY OF DADE CITY OF MIAMI ) I, RALPH G. ONGIE, CLERK OF THE CITY OF M'MIAMI) FLORIDA DO HEREBY CERTIFY THAT THE ATTACHED AND FOREGOING PAGES NUMBERED 1 THROUGH 10 , INCLUSIVE, CONTAIN A TRUE AND CORRECT COPY OF A RESOLUTION ADOPTED BY THE COMMISSION OF SAID CITY AT A MEETING HELD ON THE lsth 1916, DESIGNATED RESOLUTION :0, 76-1060 DAY OF November .II T ESS MY H!\;ID AND THE OFFICIAL SEAL OF THE CITY OF MIAMI, FLORID A, THIS 22nd DAY OF November , 1976 RALPH G. ONGIE CITY CLERK v EPUTY CITY CLERK