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HomeMy WebLinkAboutR-75-1097P C/rb RESOLUTION NO. 414 A RESOLUTION PROVIDING FOR THE SALE OF $400, 000 SERIES 1975, TEMPORARY TAX ANTICIPATION BONDS OF THE CITY OF MIAMI, FLORIDA: SETTING FORTH THE METHOD OF PAYMENT CP INTEREST; SETTING FORTH `I'ili FORM OF NOTICE FOR BIDS FOR SAID BONDS; DIRECTING PUBLICATION OF NOTICE (4 SALE OP SAID BONA PROVIDING FOR THE BIDS TO 13E OPENED ON DECEMBER 19, 1975: SETTING iOR'Tii TUE METHOJ OF BIDDING: AND SETTING FuRTV THE FIRM OF THE BIDS. 4iici:EA5, the Commission of the City of Miami (hereinafter sometimes called the "City Commission") on tine 1 th day of July, 1975, dul • passed and adopted the following resolution providing for the issuance of bonds of the City f Miami (hereinafter sometimes called the "City") : Kc:solution o. 75-678 providing for the issuance of not to exceed s1.250,000 Series 1975, Temporar_, Tax ;Thtici.pation Bonds of the denomination of S5,000 each or multiples thereof, to be dated October 1. 1975, said bonds to be issued at one time or from time t.o time and sold as hereafter provided by resolution or resolutions of the City Commission, and f:IlEFE.rS, said Resolution provides that all or any part of the bonds tnerein authorized may be made redeemable prior to maturity, at such times and prices and under such terms and conditions, as the City Commission shall determine by resolution prior to the sale of the bonds, and that both the principal of and interest on the bonds shall be payable at the office of the Director of Finance of the City of Miami in the City of Miami, florida, and WHEREAS, the City Commission has determined: (a) that said bonds shall be redeemable prior to maturity as hereinafter provided, Co) that the principal of and interest on said bonds shall be payable at the office of the Director of Finance of the city, of :Miami in the City of Miami, Florida; and • ':NT INDEX 011 (c) that the sale of said bonds shall be held and notice thereof given as hereinafter provided; now, therefore, BE IT RESOLVED BY THE COMMISSIOON OF THE CITY or MIAMI, FLORIDA: Section 1. Of the $1,250,000 principal amount of Series 1915, Temporary Tax Anticipation Bonds heretofore authorized, there shall be issued and sold at this time an installment amount of Four hundred Thousand Dollars ($400,000). The bonds shall be dated as of the 1st day of October, 1975, shall be registered bonds registrable as to both principal_ and interest, and shall mature on the 1st day of October 1976. The Bonds may be in the denomination of any multiples of $5,000. Section 2. Interest on said Temporary Tax Anticipation Bonds shall be payable semi-annually on the 1st days of April and October in each year, and botch the principal of and interest on said bonds shall be payable at the office of the Director of Finance of the City of :Miami in tic City of Miami, Florida. Section 3. The Director of Finance is hereby authorized and directed to publish a notice calling for bids for said bonds in Thy I'iar;i herald and The ;Miami News, daily newspapers of general circulation published in the City of Miami, Florida, each of such publications to be made at least (10) days before the date for the receipt of bids, which notice shall be substantially in the following form: NOTICE OF SALE $400,000 OF THE CITY OF MIAMI, FLORIDA SERIES 1975, TEMPORARY TAX ANTICIPATION 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, t'l.orida, until 11 o'clock A.M., Eastern Standard Time, on Friday, December 19, 1975 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 october 1. 1975: $400,000 Series 1975, TEMPORARY TAX ANTICIPATION BONDS, maturing October 1, 1976 with option of prior redemption without premium. Registered bonds, in denominations of multiples of $5,000, registrable as to both principal and interest, principal and semi-annual interest (April 1 and October 1) payable in legal tender at the office of the Director of Finance of the City of Miami, in the City of. Miami, Florida; general obligation; unlimited tax upon all taxable property within the City of Miami (excluding homesteads). The bonds are redeemable at the option of the City, at any time prior to their stated dates of maturity at a price of 100`- of the principal amount thereof, without premium, plus accrued interest to the date specified for redemption upon publication of notice 30 days prior to the date of redemption. The bonds were validated by judgment of the Circuit Court of Dade County, Florida, on October 16, 1975. No bid for less than all of the bonds offered or at a price of less than par plus accrued interest will be entertained. Bidders are requested to name the interest rate not exceeding seven and one-half per cent (7-1/2) per annum, in multiples of 1/b or 1/10 of 1`A. No bond shall bear more than one rate of interest which stall be ':niform for the life of the bond. All bonds offered witI be awarded to the bidder offering to purchase the bonds at the lowest net interest cost to the City, sect► 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 October 1. 1975, until their maturity. Each bid must be submitted on a form to be furnished by the undersigned Director of Finance, enclosed in a sealed envelope marked "Bid for Bonds", and must be accompanied by a certified or bank cashier's or treasurer's check upon an incorporated bank or trust company for $8,000 payable unconditionally to the order of the City of Miami, 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 checks of unsuccessful bidders will returned immediately. The check of the successful bidder will be held uncashed as securit,; for the performance of his bid, but in the event the successful bidder shall fail to comply with the terms of his bid the check mai then be cashed and the proceeds thereof retained as and for the full liquidated damages. The unqualified approving opinion of Bryant, Dickens. Franson and Miller, Tallahassee, Florida, as Bond Counsel, will be furnished to the purchasers without cost. There will also be furnished the usual closing papers. The bonds will be delivered on or about December 29, 1975 in Miami, Florida, against payment thereof by a certified or bank cashier's check drawn on a Miami bank or trust company. The right to reject any or all bids is reserved. THE CITY OF MIAMI By: W. R. MILE? Director of Finance Section 4. The form referred to in the Notice of Sale set forth in Section 3 above and on which all bids are required to be made shall be substantially as follows: r Commission of the Florida City of Miami Sirs: BID FOR BONS 1975 For Four Hundred Thousand Dollars (5400,0UU. ,)ar value, City of Miami, Series 1975, Temporary Tax Anticipation Bonds, as more particularly described in the annexed Notice of Sale, which by reference is made a part of this proposal, and for all but not less than all of said Bonds, maturing October 1, 1976, bearing interest at the rate of per cent per annum, we offer to pay the principal sum of Four Hundred Thousand Dollars ($400,000), plus a premium in the amount of )ollars ($ ), together with accrued interest from October 1, 1975 to date of delivery. We enclose herewith a certified or bank cashier's or treasurer's check for $b,000 payable to the order of the City of Miami, Florida, which check is to be applied or returned in accordance with the Notice of Sale. The closing papers referred to in the Notice of Sale are to include a certificate, dated as of the date of the delivery of the bonds, stating that there is no litigation pending or, to the knowledge of the signer of such certificate, threatened affecting the validity of the bonds. (No addition or alteration, except as provided above, is to be made to this bid.) * * * * * * * * * * * * * * * * * * * * * * * * The following is our computation, not to be considered as part of our bid, of the interest cost to the City under the terms of our bids Aggregate interest on bonds computed from October 1, 1975 Less premium Net interest cost Average interest cost rate (to four deciral places) Section 5. The Director of Finance is hereby directed to cause an official Statement to be prepared, containing a copy of the foregoing Notice of Sale and the form on which bids are required to be submitted, and also financial and statistical information concerning the City, and to furnish copies of such Official Statement to all interested bidders. Section 6. 1l proceedings relating to the issuance of 7,:mporary Tax Anticipation Bonds shall remain in full force and effect except as they may be inconsistent with this resolution and in which event the provisions of this resolution shall control. Section 7. This resolution shall be in full force and effect immediately upon its passage. PASSED AND ADOPTED this 1st day of December, 1975. 1' I' (1/4 / 1 ..*AAA... t or. 1• • 1 ' • STATE or FLORIDA ) COUNTY OF DADE CITY OF MIAMI I, H. D. SOUTHERN, Clerk of the City of Aiami, Florida, do hereby certify that the attached and foregoing pages numbered 1 to 6 inclusive, contain a true and correct copy of a resolution adopted by the Commission of the City of Miami, Florida, at a meeting held on the 1st day of December, 1975, and designated Resolution No. r. WITNESS my hand and the official seal of the City of tvliami. Florida, this _14t... day of ;Ivimilu • 1975. H. D. SOUTHERN CITY CLERK CITY OF MIAMI, FLORIDA • DEPUTY CITY CLERK 1 ;Si`Lt 'I' I CAN NO, , RESOLUTION i'R(A'i i) E:•t(i FOR THE A i,h O1' ti 400, 000 St;c'.tt 5 19M, Tn" PO%: RY T;;•: ANTICIPATION R N;): C� 'i'I1E•; CITY oI t•i1I '.i, I'Et>,`'-.i.,):w; t;t;'.ir_ti`. ; k't0: 1. '1111; METHOD OP PAYMENT t,1' LN'I'I E?ES t S'; TIN(1 t'NR 'li Folt: t O1' NOTICE FOR BIOS I CAR NAM BONOr3, I) I t;i;CTi1;i PUBLICATION oF t;c,'1'i_C.'E OF SiO.E . r i►) ti(..;,)s PRO'It)tNG3 FOR THE BIDS `!'o BE (il'I:;:, ;U ON D' Ct;:1i3Ei 19, 1979 SI•;TT1N(i FORTH THE '.1',:;'I'f:('lii OF Ii1D )I I+ir; avid) SETTING 1'OR'rlI THE 1'(\p l OF 1Ii1•; 13t}.S. WHEREAS, the Commission of the City of I•,iami (hereinafter sometimes called the "City Commission") on the l 7 th day of July, 1975, duly passed and adopted the following resolution providing for the issuance of bonds of the City of Miami (hereinafter sometimes called the "City") : Resolution No. S)-E'78 providing for the issuance of not to exceed $1,250.000 Series 1975, Temporary Tax Anticipation Bonds of the &nomination of $5,000 each or multiples thereof, to be dated October 1. 1975, said bonds to be issued at one time or from time to tune and sold as hereafter provided by resolution or resolutions of the City Commission, and WHEREAS, said Resolution provides that all or any part of the bonds therein authorized may be made redeemable prior to maturity, at such times and prices and under such terms and conditions, as the City Commission shall determine by resolution prior to the sale of the bonds, and that both the principal of and interest on the bonds shall be payable at the office of the Director of Finance of the City of Miami in the City of Miami, Florida, and WHEREAS, the City Commission has determined: (a) that said bonds shall be redeemable prior to maturity as hereinafter provided; (b) that the principal of and interest on said bonds shall hu fyablu at the office of the+ Director of Finance of the City of Miami in tho City of Miami. Florida; and CITY C4u1wss os MEETING Of OEC 11WWS terra...? $ 4 (C) that the sale of said bonds shall },o held and notice thereof gi.vev s li rrlinaLt,wr provi.cl.'cI; nowt, therefore, BE 1T RESoi,VED THE CO: ii,il ; ION 0t• THE C ITY OF i41tA:ll, Section 1. Of the 1,w`a0,000 principal ,- r.;ount of Series 1975, 'Temporary Tax Anticipation Bonds horctofore authorized, there shall be issued and sold at this time an installment amount of Four hundred Thousand Dollar; ($400,000). Thu bonds shall be dated as of the lst day of October, 1975, shall be registered bonds registrable as to both principal and interest, and shall mature on the lat day of C'ctober 1976. The Fonds may be in the denomination of any multiples of $5,000. Section 2. Interest on said Temporary Tax Anticipation Sonde shall be payable semi-annually on the lit days of April and October in each year, and both the principal of and interest on said bonds shall be payable at the office of the Director of Finanrc of the City of iS .;iuu in ,.he Cat) 4,f Miami, Florida. Section 3. The Director of Finance is hereby authorized and directed to publish a notice calling for bids for said bonds in The Miami herald and The Miami News, daily newspapers of general circulation published in the City of Miami, Florida, each of such publications to be made at least (10) days before the date for the receipt of bids, which notice shall be substantially in the following form: NOTICE OF SALE $400,000 OF TUE CITY OF MIAMI, FLORIDA SF.RXES 1975, TEMPORARY TAX ANTICIPATION BONDS Sealed bids willbe received by the Commission of the City 'of Miami, Florida, at its ,- ;'.alar place of meeting at 3500 Pain American Drive, Dinner i'r'y, Miami, Florida, until 11 o'clock A.M., Eastern Standard Time, on Friday, December mber 17, 1975 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 October 1, 1975: $400,000 Series 1975, TEMPORARY 'FAX ANTICIPATION BONDS, maturing October 1, 1976 with option of prior redemption without premium. Registered bonds, in denominations of multiples of $5,000, registrable as to both principal and interest., principal and semi-annual interest (April 1 and October 1) payable in legal tender at the office of the Director of Finance of the City of Miami, in the City of Miami, Florida; general obligation; unlimited tax upon all taxable property within the City of Miami (excluding romestcads) . The bonds are redeemable at the option of the City at any time prior to their stated dates of maturity at a price of 100% of the principal amount thereof, without premium„ plus accrued interest to the date specified for redemption upon publication of notice 30 days prior to the date of redemption. The bonds were validated by judgment of the Circuit Court of Dade County, Florida, on October 16, 1975. No bid for less than all of the bonds offered or at a price of less than par plus accrued interest will be entertained. Bidders aro requested to name the interest rate not exceeding seven and one-half per cent (7-1/2/0) per annum, in multiples of 1/8 or 1/L0 of 194. No bond shall bear more than one rate of interost which shall be uniform for the life of the bond. All bonds offered will be awarded to the bidder offering to purchase the bonds at the lowest net interest cost to the City. such cost to be determined by deducting the total amount of any premium bid from Lhe aggregate amount of interest upon all of the bonds from r>c t ob l 1, I Tr,, t ht` 1 r ,,atur a ty. Each bid must be submi 1tr'cl on a form to bc: furnished by the undersigned Director of Finance, enclosed in a sealed envelops: marked "Biel for Bonds", and must be accompanied by a certified or bank cashier's or treasurer's check uport an incorporated bank or trust Company for $E3,000 payable unconditionally to the order of the City of Miami, on which no interest will be allowed. toward or rejection of bids will be made on the date above stated for the receipt of bids, and' the: checks of unsuccessful bidders will be returned immediately. The check of the successful bidder will be held uncashed as security for the performance of his bid, but in the event the successful bidder shall fail to comply with the terms of his bid the check may then be cashed and the proceeds thereof retained as and for the full liquidated damages. The unqualified approving opinion of Bryant, Dickens, Franson and Miller, Tallahassee, Florida, as Bond Counsel, will be furnished to the purchasers without cost. There will also be furnished the usual closing papers. The bonds will be delivered on or about December 29, 1975 in ;Miami, Florida, against payment thereof by a certified or bank cashier's check drawn on a Miami bank or trust company. The right to reject any or all bids is reserved. THE CITY OF MIAMI By: W. R. BAILEY Director of Finance Section 4. The form referred to in the Notice of Sale set forth in Section 3 above and an which all bids are required to be made sha1L be substantially as follows: 4 IUD FOR BONDS Commission of the City of Miami, Florida Sins: 1975 For tour hundred Thousand Dollars ($400,O00) par value, City of Miami, Series 1975,.Temporary = Tax Anticipation Bonds, as more particularly described in the annexed Notice of Sale, which by reference is made a part of this Proposal, and for all but not loss than all of said Bonds, maturing October 1, 1976, bearing interest at the rate of per cent per annum, we offer to pay the principal Sum of Four hundred Thousand Dollars ($400,O00), plus a premium in the amount of Dollars ($ ), together with accrued interest from October 1, 1975 to date of delivery. We enclose herewith a certified or bank cashier's or treasurer's check for $f'.000 payable to thr order of the City of Miami, Florida, which check is to be applied or returned in accordance with the Notice of Sale. The closing papers referred to in the Notice of Sale are to include a certificate, dated as of the date of the delivery of the bonds, stating that there is no litigation pending or, to the knowledge of the signer of such certificate, threatened affecting the validity of the bonds. (No addition or alteration, except as provided above, is to be made to this bid.) * * * « * * * * * « * * * * * * * * * * * * * * The following is our computation, not to be considered as part of our bid, of the interest cost to the City under the terms: of out: bid: Aggregate interest on bonds computed from Octobr'r 1, 1975 1,t,s.4 premium um Not interest cost t\l'c?raye interest cost Yale, (to four decirlal Wanes) $ Section 5. The Director: o E Finance is hereby directed to cause an O.tf i.cisl Statement to be prepared, containing a copy of the foregoing Notice of Sale and the form on which bids are required to be submitted, and also financial and statistical information concerning the: City, and to furnish copiers of such Official Statement to all interested bidders. Section 6. All proceedings relating to the issuance of the Temporary Tax Anticipation Bonds shall remain in full force and effect except as they may be inconsistent with this resolution and in which event the provisions of this resolution shall control. Section 7. This resolution shall be in full force and effect immediately upon its passage. PASSED AND ADOPTED this 1st day of December, 1975. PRE Ai'.::D v;L) APPROVED BY: fi ,. *4.: 1. RO 3 i T T' • C I,A R 1: to-t- s ':fir*. City tO torve.t VP'.PA:. ''!) 'ro Fo1 M CORRECT.`;�:�i: s"� ,� t�: � rr•.a: 12 Z O #2 1 STATE OF FLORIDA ) COUNTY OF DARE CITY OF M L AM.i 1, fir D. SOCi'P1l1RN, Cid .; of thy-! City of Florida, do hereby certify that the at taellucI and Lorogoi.n.; pac;t,;3 numbered 1 to 6 , inclu: ivc, contain a true and correct copy c)f- i resolutions adopted by the Commission of tire: City of Miami, )'lorida, at a meeting held on the 1st dray of December, 1975, and designated kesolution No. ;-I4g,~ WITNESS my hand and the official seal of the City of Miami, Florida, this 15; day of 2E eCwL.t•,.irr DEPUTY CITY CLERK 7 1975. H. D. SOUTHERN CITY CLERK CITY OF MIAMI, FLORIDA 11/2 /.'., RESOLUTION tii). _""' `ow '1 L1:1; r,tiT ION PHOM i) L`;C'= I'C!t: 'f i' : S'1 I ►; OP S400,000 SERIES 1.9I!s, TEMPORARY TAX .ti''i'i'.LC 1 'L' I GN BONDS OF THE CITY (1' P•IlAHI, 11.0i?li).'1: ;;1:;'i'Ti i>0 I'U <'E'i1 THE METHOD OF PAYMENT OF 1N'I'i:itl::_i'I': SETTING I'C,Ii'i'ti THE Pole,, O?' NOTICE FOR BIDS FOR SAIE) BONDS: Di1ti;CTXNn PUBLICATION u1•' NOTICE (4' SALE: O?' SAID B0:1)5; PROVIDING I't:j1t 'I'II[: BIDS To i3t' OPENED ON I)'::� EALIEi: 19, 1975: SETTING FORTH 'I'1EE: METHOD OF It.rDD7.ir.i: AND SETTING FORTH THE FORM OF 'i'IHE B LIDS . WHEREAS, the Commission of the City of Miami (hereinafter sometimes called the "City Commission") on the 17th clay of July, 1975. duly passed and adopted the following resolution providing for the issuance of bonds of the City of Miami (hereinafter sometimes called the "City"): Resolution No. 75--678 providing for the issuance of not to exceed $1,250,000 Series 1975, Temporary Tax Anticipation Bonds of the denomination of $5,000 each or multiples thereof, to be dated October 1, 1975, said bonds to be issued at one time or from time to time and sold as hereafter provided by resolution or resolutions of the City Commission, and WHEREAS, said Resolution provides that all or any part of the bonds therein authorized may be made redeemable prior to maturity, at such times and prices and under such terms and conditions, as the City Commission shall determine by resolution prior to the :ale of the bonds, and that both the principal of and interest on the bonds shall be payable at the office of the Director of Finance of the City of Miami in the City of Miami, Florida, and WHEREAS, the City Commission has determined: (a) that said bonds shalt be redeemable prior to maturity au hccro ina t tc r provided; (b) that the principal of and interest on said bonds 01411 b'i p:eyabie at the office of t ti Director of Finance of the City of !Miami in the ('it.y of Miami, Florida; and CITY COMMISSION MEETING OF OEC 11 75 swam - sums .y,..N NNp�.R�M.iM • (c) that the s;atc a` 5aicl bonds shall 1«c halt; and not t.hul'ccif (; i_‘rt•tt Ftcr provi.U,A: how. tiic:rcforoi HE :t'.' R1:5(.C«Vie:D JAY THE CC: • tSS1ON OP THE Ct'1'Y (11.' ic1IAMt, Sect ion 1.. Of the $1, 2 .`,U, 000 principal iw aunt of Series 1915, Temporary Tax Arcticir,it.ion I3cw'cts horc'iofore authorized, there shall be issued and sold at: this time an installment amount of Four Hundred Thousand Dollars ($400,000). The bonds shall be dated as of the 1st day of October, 1975, shall be registered bonds registrable as to both principal and interest. and shall mature on the 1stday of October. 1976. The Bonds may be in the denomination of any multiples of $5,000. Section, 2. Interest on said Temporary Tax Anticipation Bonds shall be payable semi-annually on the 1st days of April and October in each year, and both the principal of and interost on said bonds shall be payable at the office of the Director of Finance: of the City of ; iami in the City of Miami, Florida. Section 3. The Director of Finance is hereby authorized and directed to publish a notice calling for bids for said bonds in The Miami Herald and ¶rhe Miami News, daily newspapers of general circulation published in the City of Miami, Florida, each of such publications to be made at least (10) days before the date for the receipt of bids, which notice shall be substantially in the following form: NOTICE OF SALE $400,000 OF TUE CITY OF M IAML, E LO UDA SERIES 1975, TEMPORARY TAX ANTICIPATION 150)103 Sealed bids will be received by the Commission o that City of Miami, Florida, at iL.f; rt': ular glace of meeting at 3500 taut American t),1:.Cvf-', fli lncr t' v, Miav;! , i''1urida, until 11 o'clock A.M., Eastern Standard Time, on Friday, D: cttr ber 19, 1975 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 October 1, 19751 $400,000 Series 1975, TEMPORARY TAX ANTICIPATION BONDS, maturing October 1, 1976 with option of prior redemption without premium. Registered bonds, in denominations of multiples of $5,000, registrable as to both principal and interest, principal and semi-annual interest (April : and October 1) payable in legal tender at the office of the Director of Finance of the City of Miami, in the City of Miami, Florida; general obligation: unlimited tax upon all taxable property within the City of Miami (excluding homesteads). The bonds are redeemable at the option of the City at • any time prior to their stated dates of maturity at a price of 100% of the principal amount thereof, without premium, plus accrued interest to the date specified for redemption upon publication of notice 30 days prior to the date of redemption. The bonds were validated by judgment of the Circuit Court of Dade County, Florida, on October 16, 1975. No bid for Less than all of the bonds offered or at a price of leis than par plus accrued interest will be entertained. Bidders are requested to name the interest rate not exceeding seven and one-half per cent (7-1/2%) per annum, in multiples of 1/8 or 1/10 of L%. No bond shall bear more than one rate of interest which shall be uniform for the life of the bond. All bonds offered will be awardild to the bidder offering to purcha se the bonds at the lowest net interest cost to the City, such cwc,wit to bi determined by deducting the total amount of 3 any premium bid from the agc.ttolate amount of interest upon all ©i t hi: bu d!, fru n cc t.ob. r 1, 1 915, un t .i 1 their maturity. Each kid r„u_;L be sub;ni t t-t -1 on a form to be rucntshed liy the under:.,tyncyd Director of flnarice,, e lL 1O Y'.d h a ne'rtled e l've1.opc'. matkod "Bid for Bonds", and rru;t L€, accompanied by a certified or bank cashier's or treasurer's cheek upon an incorporated bank or trust company for $8,OOG payable unconditionally to the order of the City of Miami, on which no interest will be allowed. Award or rejection of bids wilt be made on the date above stated for the receipt of bids, and' the checks of unsuccessful bidders will be returned immediately. The check of the successful bidder will be held uncashed as security for the performance of his bid, but in the event the successful bidder shall fail to comply with the terms of his bid the check may then be cashed and the proceeds thereof retained as and for the full liquidated damages. The unqualified approving opinion of Bryant, Dickens, Franson and Miller, Tallahassee, Florida, as Bond Counsel, will be furnished to the purchasers without cost. There will also be furnished the usual closing papers. The bonds will be delivered on or about December 29, 1975 in Miami, Florida, against payment thereof by a certified or bank cashier's check drawn on a Miami bank or trust company. The right to reject any or all bids is reserved. THE CITY OF M AML By: W. R. BAILEY Director of Finance Section 4. The form referred to in the Notice of Sal© sat forth in Section 3 above and on which all bids aro required to be made shh it no substantially as followss 4 t31 U FOR 80NDS Commission of the City of ?.1i.a.imi, I'1orida Sir;;t 1915 For Four Etunc]rrd Thousand (Dollars ($400,000) par value, City of Miami, Series 1975, Temporary 'Tax Anticipation Bonds, as more particularly described in the annexed Notice of Sale, which by reference is made a part of this Proposal, and for all but not less than all of said Bonds, maturing October 1, 1976, bearing interest at the rate of per cent per annum, we offer to pay the principal sum of Four Hundred Thousand Dollars ($400,000), plug a premium in the amount of. Dollars ($ ), together with accrued interest from October 1, 1975 to date of delivery. We enclose herewith a certified or bank cashier's or treasurer's check for $8,000 payable to the order of the City of Miami, Florida, which check is to be applied or returned in accordance with the Notice of Sale . The closing papers referred to in the Notice of Sale arc to include a certificatu, dated as of the date of the delivery of the bonds. stating that there is no litigation pending or. to the knowledge of the signer of such certificate, threatened affecting the validity of the bonds. (No addition or alteration, except as provided above, is to be made to this bid.) t * t * * * * * * it * * * * * * * Or * * * * * * Tho following is our computation, not to be considered as port of our bid, of the interest coat to the City under the torms of our bids .s A4gregAtsi interest_ on l,c)nct;.; ('rxtputc d from Oc to.Jpor 1, 1975 Lew; `.. t' t c .:A u m Not int:c'regt cC):,t. AVerayl interest cost r.►te (to four dec it" a l places) Section 5. The Director of F'i.nunce is hereby directed to cause an Official Statement to be prepared, containing a copy of the foregoing Notice of Sale and the farm on which bids are required to be submitted, and also financial and statistical information concerning the City, and to furnish copies of such Official Statement to all interested bidders. Section 6. A11 proceedings relating to the issuance of the Temporary Tax Anticipation Bonds shall remain in full force and effect except as they may be inconsistent with this resolution and in which event the provisions of this resolution shall control. Section 7. This resolution shall be in full force and effect immediately upon its passage. PISSED AND ADOPTED this 1st day of December, 1975. PR?l'\R.:D AND APPROVED RYs C3BERT F. CIARK: An Distant City Attorr+ey R /44, A PPEPA i:;D TO kOItM AND CORIRi'CTNES►: If .f 3 : t c; , �t (4! /JYD . i `At)3I CL 4.. FERRE MAYOR r STATE OF t't,Utt tDA COUNTY C+F t)At)i; C:1TYOE ZLAt41 i t, H. D. SOtJnit1l:RN, the City of Miami. F1ctida, do hurcby ccrt.ify that, t.hct attached and foregoinc; pacw:3 numbered 1 to 6 , inclusive, contain a2 true and correct copy of tt resolution adopted by the Commission of the City of Miami, Florida, at a meeting held on the 1st day of December, 1975, and designated Resolution No. ._. ;-i0g7 . WITNESS my hand and the official Seal of the City of Miami, Florida, this 15; day of '-n-+: 4 GF,t -�-- ., 1975. DEPUTY TY CL£'I K / U. U. SOUTHERN CITY CLEIU( CITY Or MIAMI, FLORIDA