HomeMy WebLinkAboutR-75-1137FLORIDA:
RESOLUTION NO, IS•1137
A RESOLUTION AWARDING $400,000 SERIES 1975,
TEMPORARY TAX ANTICIPATION BONDS OF THE CITY
OF MIAMI, FLORIDA; AM) AUTHORIZING VARIOUS
OFFICERS 0i' THE CITY OF MIAMI TO EXECUTE AN
ARBITRAGE CERTIFICATE.
BE IT RESOLVED B1' THE COnNISS10N OF THE CITY OF MIAMI,
Section 1. The Commission has ascertained and determined
and does hereby declare that:
(a) In accordance with the provisions of Resolution
No. 751097 duly passed and adopted by the Commission on
December 1, 1975, a Notice of Sale was published in The Miami
Herald on December 8, 1975, and in The :Miami News on December 8,
1975, calling for scaled bids to be received for $400,00() Series
1975, Temporary Ti:: Anticipation Bonds of The City of Miami,
dated October 1, 1975, the publication of such Notices of Sale
on such days bein ; hereby r;►ti 4 ied and approved.
(b) .\t the hour stated in said Notice of Sale, bidding
was closed and the following bids were found to have been filed
and to accord in all respects with the terms of said Notice of
Sale, each bid offering to pay accrued interest from October 1,
1975, and enc los in; a certified or bank cashier's check or
treasurer's check for S8,000:
(1) Bid of Southeast First National Bank of
"SUPPOR! E
DCCUm EN 1 S
FOLLOW"
offering to pay:
S400,000 for said Series 1975, Temporary Tax
Anticipation Bonds,
and accrued interest on the Bonds from October 1. 1975 to
the date of their delivery. said Bonds bearing interest
at the rate of 5'.
Section 2. The bid offering to purchase said bond: at
the lowest interest cost to the City, such cost being determined
by deducting the total amount of any premium bid from the
aggregate amount of interest upon all of the bonds from
' --\
1'.
October 1, 1975 until maturity was the bid of southeast First
National Bank of Mani offering to pay:
8400,000 for said Series 1975, Temporary
Tax Anticipation Bonds
and accrued interest on the bonds from October 1, 1975 to the
date of their delivery, at the rate set forth in Section 1(b)
(1) above.
Section 3. Said bid of Southeast First National
Bank of '`'iami is hereby accepted and said S400,000 Series 1975,
Temporary Tax Anticipation Bonds arc hereby awarded to said
Southeast first National frank of '' i ami at the price set forth
in Section 2 above: offered for said bonds bearing interest at
the rate set forth in Section 1(b) (1) above, and said bonds
shall bear interest at said rate.
Section 4. The checks of unsuccessful bidders shall
be returned i►:uned i atc ly.
Section . The layor, the City Clerk and the Finance
Director of the City of ''iami, or any one of them, are hereby
authorized to execute an "Arbitrage Certificate" and any other
necessary naners in connection therewith.
Section b. This resolution shall be in full force and
effect immediately upon its passage.
-- PASSED AND ADOPTED this 19th day of December, 1975.
Maurice A. Ferre
;,ayor
APPROVED D As TO 1,031,1 AND UURRi cTNi SS:
John S, 1oyd .. City Attorney
CIT.( hF MIAMI, FLORIInA
INt R03Fle1C: MEMORAnOUM
tat
FRC9A:
rir. P. W. Andrew
City Manager
,1
ri Awe
'W. R. Batley
Director of Finance.,
''0/
PAYE.
December 95 1.91
t,l,tA&wird of $400,000
Tax Anticipation
► EFtFiESICEs:
CNc:LGuPotateso lutiOn
ries 1975 Temporary
nds of the City
li
I attach a resolution which provides for the award of bids
relating to $400,000 series 1975 Temporary Tax Anticipation
Bonds.
The resolution was prepared by the firm of Bryant, Dickens,
Franson and Miller, Bond Counsel to the City.
WRB/p
cc - honorable Mayor
and City Commissioners
i