HomeMy WebLinkAboutO-08295ORDINANCE! NCG NO,
11ti 0141INAi3CE tUI102tIiCItu tIbuANCE of $22f 000. 00
•
O2AVG13Otvt► WAgItCUSE titIOWrt}i0W. •StIES 1974j iW N
CITY
Ct
� c �' it
iI'11it'I, I`LORIbk POtt `Ii l PUftliOalt Oi~, I'11YtNG 711E C,Q.��. T Oi' CONS'i`t;IfC'rINCy
Ail tNLAticti-.. '3T OV.THE E ISTINO ORAt'1GG t3dWL WAREHOUSE IN THE CiI'2'Y i
I'ttOVitiiNC; THAT THE' t PtNCIPAL OrAND THE INTEREST ON SUM BONDS SMALL
f#E --PAYABLE SOt.ELY ' VtoM flit 1 t TAt8 OND P.�yf,EiSSE 'BETWEEN ¶r tETHAT,
AND
'i'HE_OI At'i(t.:' 8gWt., Cn:'t!•ttr'1'I f_i, ' it I'1C.)N-1'R0T 1'r-' CORPORATION) AND SUCH
+ , NOT i .. .-, ., rri + DEBT rl;' 'I`iII',lil�'i.'l.' OR F�-I�I�II)(ii�
_ s O;i1J :.rill}e1.1h _aOI CONSTI,t�,1F .:} i7L•'.ii .
iiAITH AND CREDIT; SETTiNO FORTH THE it1GtiTS ANO t 4Ebi ti OIL Title
HOLDERS .Ot SEiCtt L3Ui\D
+ i ANh, tJECtAtlft10, BY A FOUR-FIT'`JitS (4/5) VOTt
S,
6v VW MEMBERS ' OI' THECOMMISSION,.THAT " THIS ' ORDINANCE: IS AN EMER-
GENCY MEASURE ON THE GROUND OF URGENT Pt1iLIC .NEED FOR Tilt PRESERVA-
TION Ot'PEACE, HEALTH, SAFETY Oft PROPERTY.
BE IT ORDAINED BY THE COAMISSTON OF THE CITY . OF, MIAi•MI :,
ARTICLE.I,.
STATUTORY AUTHORITY, : PINDINGS , AND _ DCFIN1TIONS
Section„1.01. 'AUTHORITY OF, THIS ORDINANCE, This Ordinance
is adopted pursuant to the provisions of Chapter 10847, Laws of
Florida, Special Acts of 1925, as amended, and other applicable pro-
'Visions of last, particularly Part I of Chapter 159, Florida. Statutes.
'Section 1.02. FINDINGS. It is'hereby found determined,
and declared as follows
(A)' The'rapid grot•:th and development of the Orange Bawl
Parade and festivities has resulted in a substantial increase in
the requirements on the Orange Bowl Committee (hereinafter called
the "Lessee") for the preparation and storage of floats and other
decorative materialsand equipment for the Orange Bowl Festivals
and games.
(I;) There is an urgent need for additional warehouse
space to be added to the existing warehouse facilities located
in Sportsman's Park and that the City Manager and the Director of
Finance have been authorized, pursuant to Resolution No. 74-154 of
the City of Miami to proceed with the subordination of the City
of Miami property in the Sportsman's Park Warehouse Sub;ii.vision,
thereby permitting the Orange Bowl Committee to begin immediate
construction of the third addition to the. City';? worehouae
facilities Utiiized by the tdssec pending financ hcJ through thd'
issUanc e of heVenut bonds,
'(C) The City at this time is without immediate aVai1.able
funds to take the dapitai outlay necessary for the construdtioh
of theheeded addition to the ekisting Warehouse facilities in
Spor. t_;mcin' s Park,
(D) It is to the best interest of the Cityanal its
Citizens and residents that the needed additional Warehouse,
space in Sportsman's Park be financed by revenue bonds in the
aggregate principal amount of $225,000.00.
(t) The anticipated rentals to be derived by the City
from the Lessee will be sufficient to pay the principal of and
interest on all of the Bonds issued pursuant to this Ordinance,
and to make reserves, sinking fund and other payments provided
for in 'this Ordinance.
Section 1.03. ORDINANCE TO CONSTITUTE CONTRACT.
consideration 'of the acceptance of the Bonds authorized to'be
issued hereunder by those who shall hold.the same from time to
time, this ordinance.shall.be deemed to be and shall' constitute
a contract between the Commission' and such Bondholders, and the
covenants and agreements herein'set forth to be performed by.
said Commission of.the City. of Miami shall be for the equal
benefit, protection, and security'of the legal holders of any.
and all of such Bonds and. the. coupons attached thereto, all of
which shall be of equal rank and without preference, priority,,
or distinction of any of the Bonds or coupons over' any other 'thereof
except as expressly provided therein and hereih.
Section 1.04. DEFINITIONS. The following terms shall
have the following meanings in -this Ordinanceunless'the text:
'otherwise requires;
( ) : The word " i3oitds" shall .mean. tine $225, 000 Orange
Howl Warehouse'Revenue Bonds, Series 1974, issued'under the
provisiens-of thi Ordinance.
(b) The word! "Bondholder" or "Holder of Bonds" br nhy
s ihtilat Lora shah Moan any person who shall be the beater of
owner of any Bond or itonds # registered to bearer or hot tecjistefcd,
or the reCji ster'ecl owner. of any Lionel or Bonds :Which ; Shall-1L the, c
time be registered other than to beater, or the beater or owner
or ahy coupons', t epro ;.'nt:i tic; inset°es t:. ,accrued or to a.r:dYtto on
the Bonds.
(C) The word "City"' shall mean The City of . Miami,
Municipal corporation in Dade County, ?lorida.
(0) The term "City Commission" shall mean the Commission
of the City of Miami or the board or body in which the general
legislative powers of the City shall be vested.
(E) The term "City Clerk" shall mean the City Clerk
of the City of Miami or the officer succeeding to his principal
functions.
(F) The term "City Manager' shall mean the City Manager
of the City of Miami or the officer succeeding to his principal
functions.
(G) The term "Construction Fund" shall mean the Orange
Bowl Warehouse Third Addition. Construction Trust Fund, a special
fund created and designated by Section 2.08 of this Ordinance.
(1) The. word "cost", as applied to the Third Addition
Warehouse Facility, shall embrace, without intending thereby to
limit or restrict any proper definition of such word, the cost of.
acquisition or construction and all obligations and expenses and
all items of cost which shall be set forth in the Resolution
authorizing the sale of Bonds under this Ordinance.
(I) The term "daily newspaper" shall mean a newspaper
regularly published in the English language on each business day
in each calendar wool: excluding Saturdays.
(a) The word "Depositary" shall mean any bank or trust
company duly authorized by law to engage in the ban}:ing business;
it. c �c e c'1•�a.ittt11C"i .tt:i; c: c �":I;ot La O:f. oneyS
.i:'. LC'C 'l:C,�7 by .11�. I ]-�: e.c:�);_ of
1it'iC C:12:
i j1e pi:oVisiohtt tltt i Ort7.:1i1F hC':.:
(1 )' :f ho. i:c'.i"ii: ";J7.'redtor t)f ;.'1Il. i"LflC'U" shall inl:Ian the
j , ]..i 1. t
t�].a:er+Gtt:�i= o;: j'1Y12111C:c'3 of the Ci.�.y o_+± iiicj!?ti or the cs'`i?.c:esg: tticoeedl.ng
}}
1. ) .tl. i a?'`• rL'' ', -t'; .., 1?�. ti !. iC:,1:i.
nYlie 'tc+i:m 1i1~ iisLil1C Warehoi? ui' shall mearl the original
wo.tet:Ot:e�r' 'and. first etc d:t.t.iti1 tjioreto in port rtar' }S Park existing:
a.ilc7 . in , piace
G:; of `Fehr nary
:1974, here.teforu leaSecl and
occupied hy tho Lessee pursu%attt to the City of Miami Ordinance
No. 7879 and the Lease authorized ,thereby dated May 5 j 1970, for
the preparation tion and storage of floats and oLher decorative material
and cguipllent for the Orange Bowl festivals and games.
(n) Tho tern "Government Obligations" shall mean' direct
obligations tions of: The United States : of America.
(N) The term 'Interest a.nd Sinking Fund" or "Sinking Fund"
shall moan the Third Addition Warehouse Facility Bond Interest
and Sinking Fund a. special fund created and designated by Section
02 o f this Ordinance.
JOY Me word "Le se" shall, mean the lease agreement
entered into by the City and the Lessee under date
19
of r
(p) The word "Lessee' shall mean the Orange Bowl Committee,
a non-pl:o{it corporation organized under the
:'1orida .
(Q) Thu, \:c)r.1 ":Ia.y
aws of the State of .
shall rne;In the, Mayor of the City of
or the 0::f ice...= c;uececding, to h s principal. functions.
(p) Le- 11 "`.I h i:d Addition Varehouse Facility" shall
;:i'r: o± tho ,existing warehouse financed
fro:1 the proceeds of "c`*''= nond9 to consist of a connoctin and
cldditiono.3 warehouse to the Existing Warehouse, hut shall not
. t'ne.lt:140 the
';a.roltou;;e,
1
`t.',he Wc rt: "1.1areho:U:16` . uttal ?:ic' th c oli edelyt.Ij the
1::ti1:=. t:1.?tt? WOkeho-aS : aPci % o . T}tirdi .T 1c1 i. i:iorl 1'r:trehoUSe 1' <1Ciii ty a
(') Wd?el.s ' it: por Li,nr r3 itiquia nurtibe.i. silall .include the
; y t t. i t ''-i+ . c e `� '' 4 'oi t ort ing
�1�,i11'cLl. �1'tt1t,. i'.?_` in itC;i! G,a.;�C. c+a1Cl � C. � 3. iFt j c•.nCt \. 2'd importing
t-Irs fnc inci.tic1C: ` Lr!'lEt and CorptJ Ca. ao' ns ,
:nllTICLB Lt
AUTHORIZATION? "2E1 %s:i ;
11,CI15`JjR\T3:toi; t AtIb i sui OP PONDS
Section ion 2,016 AUTilORI7t TION OF MVO . Sttb j ec: t and
pursuant to the pr oVisibns of this Ordinance, Bonds of the City
to be known as "Orange Bowl Warehouse 'Revenue Bonds, Series 1974ii,
arc hereby authorized to he issued in the aggregate principal
a± aunt of Two furtdrec) Twenty -Five : Thousand Dollars ($225, 000) to
construct the Third Addition Warehouse Facility which construction
is hereby authorized.
Section 2.02. D1,SCRIPTION OF FONDS. she Bonds shall be
numbered consecutively . from ono (1) upward, shall be in the
denomination f• ., Ta t sand Dollars$ each shall
b.a. One �.nt�a..a�a.l.., (, 1, OOO.QO) e�tcii,
bear interest at not. exceeding the maximum rate permitted by
lam, payable semi-annually on and
of each year, and shall mature serially in
numerical order, lowest iiurbers first, annually in the
years after elate of the Bands as follows:
Years •'
After Date
1
2
3
4
6
7
E
9
10
11.
12
13
14
15
Principal
Payment
$ 6,000
9,000 ,,
10,000
10,000
12,000
12,000
13,000
14,000
16,000
17,000
18,000
20,000
20,000
22,000
24,000
'oy ;:coo1u l on oJ:
i �i j, tcti shall
!.� • tt.l`; wc' :•11 `:'.r catto1.. .ho koVitled
.�1 a�.�t. �.. Ciu.a• .' c-. i �.._e.t r.�.' �.
hu C..L Ly c:c;op t.::6 r)J" 1 b ' ii.'o ' •Fht.& I l C of the 'I✓Jr h t
"•��:) �.�? i ho :i:.1t1C'•?. 2 ). tit i?.n ► Lho in.Lel:C:'st bh t1'1C! 13 hcz� sh .
}1e ilii1'%lb!_C' .il any de n o1: C0f:t:r!ccy. bf Lliu unit cd SL.t cs Of Ah rrild t
which h on Lhci ru$ped
Eor
anti
the
Ii.c?%C:i C)1 payW, nL t� i.:eof is legal 1.ehdet
�:�'_•:, j.).:lymeilL C1t: I`•i2 ).�.lc anc: pr.LvaLe debts, 1.he pLihc.ipa1 f
1 ..
then l:ei: act L Onti?'..' B3on� ; shall be pay_ 71 o t the o Ff ic'e of
bir.Ce Lor of & iptice ofHthe City of iliaMi. (herein called the
'Paying 2. p nt'i) in the City, -of Miami, iorida. Payi'tlent bu the
�. .. c � ' the �" c•p:'.2c .. i' . t1 er`eof ::hall
interest on the lOI2..::� ter • it C.� . t S,' e' i['iJ�'V 1I1: i...b talc
. bo ' made only ti1Pom present:atior _ anrJ surr oiidei= 'of. the coupons, if
'any,
such interest as the same respectively btico ae,
duo, or., if and . Donashall be registered as to both principal and
interest, payment of: the interest on suc`_i n ond. on any interest.
payment Gill-: shall be 1'i'.adc to the person son appearing on the
registration beeks of the City hereinafter aftei p rovieled ? or as .the
registered red m:nor .thereof , such :i.nterest to be paid by check or
draft mailed to tho . registered owner at his adcress as it appears
on such registration hoot:;;.
Each of sa]c1 Donc1s shall be executed substantially in
the form and mn::er hereafter set forth, shall have printed
thereon a s ten n't. of validation in the forri hereinafter set
forth, c:nf shall ha dep:1:�ited with the Director. of Finance for
delivery to the purchasers of the Bonds, but prior to or
aimultattc,eusiv with the delivery of said i ont: , there shall be
ri1th the T?irec.or . of F inonce the following
(a) C:'.'.;:y, certified ed by the City Clerk, of the
2-;1ol, t-:i.0 1 of the City Co::niss? on awarding Said Bonds,
r.:peci r v :i the interest rate of each of said onds and
c: i rce t i.nc; the:delivery o f saic1 Bor_ci i to or upon the
orde:tr os tht: purchasers s therein.named .upon payment
Of' 4he rlle:Ci17se' pr]cr he;trein Set : erthj c' ncV
-tlt 0:,anion Of' the City i.Lt orney C La Liricj . that
the i st;intn o of: s-airy Bbncth ii itr b:: n tliAly atithori (:i anc' .
.that all col?c'i:i.'Li►onS ere:cdc!nt to 't:he delivery b . Sa.Y-3.
13Ona5 l?::`.'U beion fulfilled,
{•'"t' li.:i i::'' tU�it:i: 13"7 ti it411 it•;,1 ( i,) ttii�� �t.71 o i.�"llci
i
:,ection &iai have been filed with the Director
sa d Bonds hallhave been e edu'ted, aS
of Finance and %then
required by this Ordinance,
the Director of Finance shall del:; er said Hones at one tine to or
upon tic: order of . the purchasers named to . the resolUtion mentioned
in clause (a) of thin Section, but only upon_ payment to the Directer
of Finance of the purchase price of said Bonds. The ' Director of
Finance shall_ be entitled to rely upon such resolution as to the
names of the purchasers, the interest rate of each of said Bonds
and the amount of such purchase price.
Section 2.03. EXECUTION OF BONDb. AND COUPONS. The Bonds
shall b . sigaie:' by, or bar the facsimile signature of, the Mayor
of the City and shall be signed bv, or hear the facsimile signature
of, the City Clerk, and e facsimile of the corporate seal of .the
City ,hall be imprintedon tnc Bonds; provided, however, that each
Bond ::h:J11 be I:`?:nua11_V signed by at least or'e of said officers.
The interest cou' ons to be attached to the Bonds shall be authen-
ticated t•lith the facsimile signature of the City Clerk. In case
any officer whose signature ox a facsimile of whose signature shall
a p•.ye'i.r U:t'- •:!,
Bond: or cou;:c ns shc.11• cease to he such officer before
the etelivcry of.sueh Bonds such signature 'or such facsiraile shall
neverthenS be valid and d . u•f f iC?.en t for -all purposes the sago as
:i.:. he i1::!t . 2:Eo.a in+.::',:. iIi office until such d l i Verv, and: also any Bond
i till boa:: t117! f 4<:u?.' ii lc: signature O , or may be signed by, such
persons a:. at the actual t'rL of the a>.ocu L ion of such Bond shall
be th:. pxoer of is a.cci n to c ucu to such Botid although at the date of
;,uc: l} i':. nd such persons ; E.y not ha,vo been Enich officers
t ek.:•Lion .:t br iiOi r):i 1,1.1';".i_I,AYt.O, j112,:).E.`':0Yt:D j' ,ii".E`OTt?•i_': j U1:
JP eil}?t t":.ny ''to
=ti:olon, Or lost,
ri :;i% i.1.'-i.y::tCw':
tidy 1il
i`11.li:ly.c: i:f?Ci o t b' de tt7oyed }
discretion i5.'' uo anCt del ivot
y, • ; +,., 1 y • i� ns attached o.F like tend 1i
�t nr�,d Bond With alJ, t?=..,:. tlt:ctr�. coupons
stolen, ot' .Lost; i11 t~':_::hc!1?;jc ca'id 5U1Jst:j.•Ltlt:l.oa for mutiiaier.
•
Bond, i+ t'r Surrender r cancellation of such mutilated at.:ed 13o:?d and
Upon �i. _ ._ c.1.. �c and
n i:tached coupons, if any, ot in lieu . of and substitution Co.r the
Bond and attached coupons, if any, 6tetroyed, StoleI2, or lout, and
u=tor the holder furnishing 'tc.hi City proof of his O:•7:iccshi`J thereof
and satisfactory i nG1c:nnity'' and Coin)=ing 'with such other reasonable
regulations and cone.;! "Gi ons as the City nay prescribe and paying
such i.: Wit: rases as 'i.1:t`' City ITt1.1% nvut:. All Bonds and coupons so
ur): 'qdered shall be cancelled by the City Clerk. If any' such
Bonds or coupons shall haw nc.t:t?I:': d or be about to mature, , instead
of issuing a substitute Bond or coupon, the City may pay. the same
u on being ine.`'.mpifie'd as aforesaid, a ni if such Bond, or coupon
b,3 .1oat, stolen, 'or -destroyed without surrender' thereof.
Any such duplicate Bonds and CouponsCOupons issued pursuant ,to'
4: i•J r..,-. iin 2.0 . ;ial.' cr Ji t te original additional contractual,
obligations on the part of
the Co .iss i on, whether or not the lost,
stolen, or destroyed Bolds or coupon:. be , at any trot:e found by any-
one, and such C ll`)lioat'a Bonds and coupons s shall'be entitle:; to
r_Oual a:td, pro'"'o: tionatt ben :?`:its. and rights as to lien on and source
and secnx''ty for pay is t:'i . roia the rentals under the Leaso Agreement
:?:C:?.i'_a4:i:;x rtr.cred to as Jrovi.d:t(`^•. 'for herein withc'll other Bonds:.
h e't :.`L.':t6C ': .
'4'Op nr BOND'S AND COUPor'; . - ' The text of
_)C Bonds, cm1•1•:)fl , an;i tho v ii at i on certificate endorsee
� 4
' t:Iereon shall be 'of subst n : wally the folio 1415j tenor, S•7a,th such
1.4ty b3-.. necessary spew desirable.
3• ., •� t y .L ; r jv Suksec uont
itj?•.ull•..f:r:is..i.y:. C). t?f.Y'�..:i.'i'.t:C.:;.i '1�i c. 1�.,".r Q G;.LI11I1C.(?, Ott: ��.T
or :,;o:1,:?:Aan i! .tC)j.l l YC pa''] a to th;1 , i5,914a1?6P' tilq,IT e9f
tiNM•1 i)t1•::rJ.'E:I' Uri Aiit:RiCA
totr6I i`5 01' . i)i\1)i .
i t f i t T.r r :.)
1.1'iC', C.:C1� CJ,tt. •1T"C.'s.. T♦♦. �.y �1i 1974
-: ' ' 10 f � ' i • � r t.'..•s 1 1 J r .' {.`i u i �.�V `'.'i 1.) j ,[ try 1. � J
Ot !}iil:i� i.vYi.J 1't_4'a.' c;C7j7r '� ! � �
J,he City Of' IiiF:.`:1i. , (rt reJ.n ealled the ''City") t, c% )i1L?t?idipal
CC)rpOi'.c'..:?.On in'the CounL`Y' U Sta.!�:' f risp Zeta .Or `v 1l1.i.O
rece:i_ved j )ie'.cbv proMi es •Co p_►.y, so1e1./ rom t.he, *,'N':.+cia! ftitl .
provided therefo as - h; rc'inaf ter iiet fOr'th j . o 'i.hc beater or, if
i c ".
this Bond be roc a. Sr.e,. Lu
�.o the .reoistererl owner horeef on the
1st day of r 19 (or earlier as hereinafter referred
to) , the pr. inci.pal sum of
ONE T1 OUS2.i;U I`.OL' Ltic S
and to pay, solely from said .special ftnd
the cia t hereof at the rate of
interest thereon from
%) ;per, arinu::1' ui:til payment, of.such principal sum, such
hereof being : ayab? e: on
:L21tif?<^t�iL tothetheI'imaturity'.y
19 . , and semi --annually thereafter on the 1st days of
and in each year. Both the principal of and the
J�._a.�=� . on this Bond are ppayablei n any coin or currency of the
.r�e.:
United Stator; of 'INner'i ra vhich on the respective dates of payment
thereof. is legal tender for the payment of public anci, private
r',.:bts . The principal of and the interest on the Bonds shall be
payable at the office of, th..'.-, Director of Finance o1 the City of
7..:1.o': i (herein caned the "Paying tgent") :in the City of Mann,
_'10 J.Jr .cf the interest on this on to the maturity
1:.,: o f '. d 11 be I,' :cic; only u_joii .2z esun to t:ioll and surrender of the
coupo;'i:•, 1..4 4'.I' reJJre:..enti11such interest as the salver respectively,
}.,L• o:',1e duo; 017, if thi:i Bond be registered as to both principal,
0.1101 :i.r Lc ro:i L, pay:i :'•r t. see the .interest on this Bond on any interest
„� r.,.• i y t will
be'+ to �. ''' person a'}.�.�' c!ar irsg on the fond
�.4.. �: r� ..�.L i'4.+{�.ems^ r � :7
i>o.>:';,, of •l:_.c. City as the registered owner hereof,
stir . int lost. .:o be' paid by
Z:f:Cj.'. ii.eY'ed C)w}:C:i: aL his ite
rogiS4'i zya=..I.On boo!:.s .
This Bo.nd
.t pin
ch':3ck oT: ct.L z
r: o i Il ['
h1:.a.11. net b.'. d(ie_ i=ed .1:o Co1 s t:itiAte :i debt' 017.
,1 1.t 1 e,n,3 I'+t'Y'l r='i t r: 1.
shall be Payable sole1. fro:;': 'the st, ec Lr 1. fund pro:%ierd t?1o?:efo7: r.
City i + , d , .. t , 1 r _ interest hereon
t.Li?+4�. ��.'i.�' h not-. ct�l � C3.i%v i.0 p,,t. t:_1:L'.� �..J1_1: h_ i:�)t. i21 �:el � �+ u
f.*:o_i ' such special fund; and the :::o t1 an credit, of the
C� ti..
City are not pledged to the payi'enL or such principal o2: interest.
t:'ne issuance of this Bond hall not directly ly or indirectly or
contingently obligate the City t+
whatever therefor Or 1`..O make any
this Boa;
levy O) to pledge any ta.:es
appropriation for the payment of
•
or the interes her.'eon2 c:tcept from such special.. fund=.
This
Bondis one of a. duly authorized series
of revenue
bonds of- the City ,known as "Orange Bos:%1 1'? a3=ehouse !ovono.:3 Bonds,.
Series 1974", consisting of Bonds. maturing in annual' install- -
ments in theyears to inclusive, all of
'likes date. and issued for the purpose of providing 'funds for
providing funds for paying the cost of constructing the Third
Addition Warehouse Facility (as defined in the Ordinance
hereinafter mentioned).
i'.11 or the Bonds are issued under and pursuant to an
o::i in•:tt:c' (herein called the 'Ordinance") duly adopted? by the
Co ! : ' :i:_ ..< r of the City on
�1 'which is hereby I:i'.t!i.i' for the
, ,19_;, reference
provisions, among others, with'
ret.s •ar: y'y 'c.c ';.h custody ::in : application of the pr_oceed5 ' of
e 'or: a.i&.:ince, the collection and ditipoition.
or rev.^i'1'' '. ' 't.:1e, ✓: ui=d .:;1<:13: eyed w Lth and plcc?r,'ecl to the p;iy.r nL
: the 4 in a I O the Bends , the: nature
•i:�'.: :I.tT;'.t:1:i:;�': car, and i c :ip„
t.
it'? t,,.� ,-,' of Li o r.: 3ci:y the rights, duties and obligations
i },i tv u .+.n,: r 0..3 O ti.I.nL1nee ano. the rights of the 1 o1i p r s
t
o .i b '`t:ite a cci:ptat'li:, '' of: t:h:... 3.3o di Lh holder
tl•�:: i J " .+ cir 1? G , iC) - 1 1 t:h 'a L)�:O L s iUI)3.' _of Otd?.i1t:?tC: a
'. h s Ilenr1 is'issued an : LhC Ordind:t:.•t`: t`ir1,a adopted
:AITIFIer and tttt't`.it?t'tt'1t: to. the 1.r1't'i of t>he 7t'.ri t e 0. 1'! u1:7.C%:1.,
,, :t t.S. l.. •.l t..'ti.� j .,. iZlt t.1ti: l>1i t.�•i:Q.c.
of l.hn c.l_ty.
The !? :y has entered into FLease 1jreemeft uiccr
oF (herein called the "Lease") v,ith the
Orange nge Bo al Co , tittco , a non-profit corporation ... (herein cca11cc
'L r, "LPssea'.) under Lho provisions of which the City ha:; leased
'ch 2. hid Addition Warehouse Facility (defined hei ein and in
he. Ordinance to r?P.c1n the Third Addition ;lzl:ehouse Facility in
s i3a:r10 to the .L Sseo . Tho Leas: provides for the
payment' by the Lessee of rentals in amounts' sufficient for payment
of the principal of and the interest on the Bonds, to pay such
principal and interest as the same shall become due and" payable.
The Lease: provides that the rentals shall be paid to the City and
aad interest '.::�t a� �.h� �• sa!:cl ;, shall become ciu:: and - payable. The
-c
;easepYe: ides thatthe rentals shall be paid to the City and
the Cr .;lnancc provides that such rentals shall be deposited to
the credit o:: a
special fund created by the Ordinance, which
1 fund is . 1e•' ged to and charged with the paymont of the
-.1rincipaI of and th3 interest on the Bonds. The Lease provides.
'.: e. d 'U » X.t'.;:' ,s ob 1 i ation t0 :.t „ha the rental payments
: ocvl r..!0 by t1):y Lcase shall be absolute and unconditional and
h n .••b:j: Cam;. to diminution by sc -off, COu:ltc:rclai:?1,
Thu -i'onde at t:.ta o tine out:i land i.n g :my be redeeatc.
to - :a•"•`.`.ct1VC' Natu?.it:ies at any time at the option
oi: t:i:n City, c: t1tor is w;cola:; or in Part, in the: inverse order
'of 'th,.z.L:.: IoAt: xc i'' 3,Q
Troia any :runeys that nay be r..ade avail.;able
';t:C'il p11:.'%%rti;.i . , i!1'. t;..l! rtL'.i. ? t :)..1. F1T'.U;. t. of t.tt,;! 11,ines
Wi.t ti the interest itc'erili::. th,..!.:con :o i;•"I:: .
(tat, ` e r r•;,yr. t,: n✓., t: 3t ti')1'ii p3'E'.%iittl:i
IF loss t:hi.ni all, of'the 31otleis of zt it olio! 7taturie Shall
.c.: . ± _ i; ei.t i .:i.ca } 't t,a_ "i.1.i:L? I.:: :C J. J0'2.. c :J:.', ,CUtL. ..MLt l
Sh- ti l . bc= scl ,-,c tt ed by lot by t:.tte Ji !cce tU.`r.' of. I'.l, anee or Lh :!
City iE —provided it the Ordinance.
Any such red er. ptiof , either in iiholeor in part, shall
be mide ueon at least thirty - (3O) days t `prior notice by oublica"
t:ion and otherwise as provided . in the Ordinance, and shall be
It%mac?e in the manner and under the Geri' t• ca. nc7 conditions provided
in .the Ordinance. Bonds which have been duly cancel for :.
re ace.^.�:t:i on
notice having ng b Cl ;ui .�cd a ci honeys for payment
of the redemption price being held by he Paying . Ageni:, all as
provided in the Ordinance,, shall become and be due and.payable
at the rede`.'.t%t ion price provided for redemption, in"lt"erest
on
tit:.! Bonds so called for rt-:dem—)t?.on shall thereafter cease to
accrue,CJf.G iCtu!: n,g,after such date shall be void,
ul:Ch
Bonds shall cease to be entitled Lo any benefit or security
unde= the Ordinance, and the holders or registered owners of
such Bon: ic3 shell have no rights in respect thereof except to
rec;:tive payment
- ths redemption price thereof so held by
the Plying hg,a lit
rj'h .older of this Bond shall have no right to enforce the
-er v l:;i.e2:z; l 4;:c: Ortlinanee or to institute action to enforce the
or '.:o 'tt'.a!;.e any action with ttl respact: to any
:F'a:l' tG : ;':, :.:' ..•.'' '::il::;:�. ,.: ; Or(1?.:t%'.I"IC{:, or toinstitute, appear in
Ct.l" ('.:' i. milt, any s'.t'l '4 or other proceeding with th respect thereto,
itt C.t:?= t%t.'.,31oven s, on the,:, Qoii ii;:ior^, in the manner and
..•Ilr! tp ` tit t iJliL f:
L tb. iii the Ora iIiar c'•, ' tho incipal b
■
t.i{ i'o C.,: �11c�tt ��`.ti::�%�.31�1.l.i:c� :tt1�tGJ' Liti` C) 't{1t1ui7f�. j.►wG'b''3 Or .May,
..it-.
be C1t cJaY:cd due a,11.i ?i:1j''•1.J1f2 fJ...!:Eo. o 'Liti: Stated matilr:l.i:.'L<3s t2•::r^'.j' f )
i..ogether With the: ? il'%r'' L' is a dc u c l'.��CiLE�on
ert`d €1?.i to :)ri iC i pc l alo:?c br a6
This
B:)ur7 ?::a y h: ro;;ib
"f1 l,1 i:c 4 ��' t `i ' `� is "C.. ;. �: ?�t 1.? 'rt;'C: :. t:'„in, � as to S:t'i i;1
' 3 interest, f�t.1 h .. reconverted .? nt o a c ottpo'1 on`,
.l.il:'J.L�it1. cl;1C. ,l?i�v."~�itl �' .:
in accordance `..ith c':ry ;)_.cY':i.54_ons endorsed hereon and st=;eject:
to the •terms and conditions .set 'oral in th.. Ordinance.
This t.i;)iic1, and the coupons appertaining hereto, haVe all
of u a' :� 7 instruments .LunCder` t,^_e. Uniform
the qualities negotiable e
C0:11i?1ercla1 Code - Investment Securities Law of the State of
and the original holder and each successive holder of
this Bend, or or the coupons a;,>per t. ii ing herfi to, shall be
conclusively d: e is ed by his acceptance hereof to have agreed
that this Bona and the covoo_'lc3 appertaining hereto shall have
all or the qualities or nr otia ble instruments s under the laws
of the
State of Florida.
All Fct, conditions and thins required by the
Constitution and laws of the .State of Florida and the ordinances
and r :lo_ cations oil the City to happen, exist and be perforned
precedent to and in the issuance this Bond have happened,
zi st i1210, have been performed as SO required.
IN t,':IT,.: SS - WHEREOF, The City of Miami has caused this
f,or_1 to be signed by (bear the facsimile signature of) its
i :':tyor and to, b dynea by it:: City Clcr%,and . a facsimile
its c. 'pC.)l"c? a :3t:itl. to be J.ii_ rnt''.cc3 hereon, and the interest
c.eos'.t::?:s ai:t::lc!'Sc.,1 hel-eto' to :.ye erec.:i.c'a �' i h the facsimile signature
of said ('4.L' C i::t'?I, all . as of t a .�.. Ciao of li
NiTyor
City Cleri;
1
w`_ ;O :J I."s.rM5 I?'O :i W.!s'..i'ti T t
Yhis:tIona nay be
ii : tc' cc1 . as 1:0 principal -alone bil bJJi:
of t:i10 city -.kept by hc-t. Paying :tyjen :., as Dc)ilri :C i Er ar, upOil
li.. .a),_ to 1:1i:: :'i; 2!:? ,t :" i:'i.l'il,j:' i ::'i shall iitc:..ti.:: iiC)":r�G�oll
t.+..a i:' a. C l on ' tt the t c c. i.., tt'...at:a.011 h._ �. below, and this
:).. Such 1`t�C, t �i. ): �, .'.. r , �.. T' � �.il.r
1
a a', 'thereafter i:)�: tra sferred On* upon ata:i:i? C,atllel:`I14 Ci1tily
e.',:eC . ;3Ci by the registered oi';nc r or h? 8 attorney o.T` :legal repre'
rt'tl tivc J.tT
such for:.: o. shall be Satisfactory to the 33onc'.
X'.r'C ist :ca.?., such transfer to he Made'on such .books and endorsed
hereon by the BonLi Re i.3ttar. unless this '3onc1 be isteer c< as
t c a , relay 'be to bearer and
%O both principal a11L? interest, t:, �UCI_trans er :
thereby trCtnsferabi l.it.t,' by C elivC2'y' hall be restored, but his
}
1 and shall again be
::ers as before
subject to suc:cessi :j 'regi.s :raUions and trans•-
1.the principal
of this Bond, if registered, unless
rcc i.st:?2'C'.:1 to bearer, shall be payable only to or upon the order
of he registcrea owner or his legal. representative. Notwith-
standing .the registration Lion of this Bonc1 as 'co principal alone, the
couzlens shall ret;tez7.n 13a7ab1,e to bearer and shall continue to he
transferable enable by delivery. This Bond nay be registered. as .o both
principal and interest `t upon pre: enta Lion hereof 'moo tho Bond
a: -:gist : ai: who shall detach land retain in his custody all unriatured
'.:;)tl_)C'_ s and all matured coupons, if any, not theretofore paid or
- ,-.,roviC.ed for, and shell make notation of such registration as to
;:o:.h principal .. c' 1. £ ndi interest in the registration blank below, z nd
ttli.: .v'i d nay the`£;:ift '. 3Jc. t'railsferred only upon. an assignment
C:'::f.'ll'i.ee: by ;.}:'r registered own or on his attorney o?: legal
•.t
f.'^.pi:eseli.;',in such'form i s 'hall' be satisfactory to' the Bond
t'r: t •i_ ,;:; e i:r [ta':e'' . t:0 b':: I.'. de ' on such , boot s and ' endorsed
ho:cnon by the 3ond 4'tec;i.strar; ,aster: suc::l registration both the
iJ na')a1Q:i1A 'the .T+ If-L Q1' ath s Bond shall.be payable,only
i':a ow4t?.C)i* 4!i'; i)?'ac'c of the regi.*iterr4d ownor Qt ht.s ]eCja]. rQpXe-
into .st Eo ld reg3, terra a;3 to.
go` s tiii%!y be 1:eECtv:iic:l;i#`C) a 'Coupon
*'iIo i; tpe-l:aLiOsti1;.T:CEf lO it' t71Cili{ jiLrat, acco``:l? :d
by x c:•:c cuto i by 'tlie 1regit.it6ked owner Oy his
`tOrtney- or terms 1.q •t,{ipT`ewint l..I a in Stich lOrM . ui shall bC'. saLi -
,� , -tr, _s ` t, r`
;,..� i•�; ;•,�-;>>^ ; 1iL�7i1 'r:ht� '-t.!'1:.'? .,C' r t)t! . t t?_rJ_ the,Bond,
#.itJ;lJ.'
f;A r C):`i: to 't-ho
Ingisti 'i;r shall reattach .he eLb 'the coupons representing the: i l>E"_:F'est..
to bJ Co. c.' .due thereafter On this Bond 'Lo the date or ina t r ty= anc
interest,the nob theretofore paic., and shall make notation
k below whether this Bold is registered as
i It the registration blank
to principal alone or is payable to bearer.
Date of Name . ., of
Manner of Signature of
Rergistration Petjisterod Owner Registration Bond RegisL.rar
STAT M NT: OF VALIDATION
This T on:).. is one ofa series ,of i3onds which .were validated
by ;jua,, =ant
o:` the Circuit Court for Dade County, rendered on
19
(Form Of Coupons)
i
On 1, 19 , The City of iliiairi, Florida,.
will pay to bearer (unless the Bond mentioned below shall pre-
viously \ iously hPve become payable as provided in the Ordinance referred
to in 'a:.tiC: BonC n:1 provision n for payment thereof shall have been
duly :tt the o ,rise of the Director o' Finance of the City
jii''-11, ?_n the Cary of Miami, Florida,
.;1."t:r ::der hereof, "i-i::' sum of
upon the presentation
and
7.:t ;Any Coil or. currency -of the United States of .merica '
• which ._t,., time pay6nt is . l ecfli. LC; 1dcr for the payment of
r;i vctt!:: c.'6b a, ,ri01_ely,'_troll, the special fund refcxrod to '
,• , l)ofl j its Orange
i ilr and .for %��:' S�":'�l7_"ii21t1i14 �. :1.'1(:.�_?"�'E::��. duett
10 .; +,'•-tl:E ,Ii. tt c c c!':A 1:J14 y cia'Lttr.t aFt bi '
� � .. :r. '.; :��.'. I?f:1'IiL't1i1�'. 1.iCJ?lt_l:. � .s J_.� - y .. .., .... .
Section 2.06.. 1 EGOtJ I ! IILITY AND 1.EG:t TRATIOi : The tons
shall have all the a1i ti ma`s of negotiable instrllmCntt under the
le e i r. - v i Ise, t SecUri-L7 os La' of the :hate
Uniform Co.�..1�'tC_.al Code Ihv�S�..+.'-�1u
of Florida.
The City shall cause books . or the registration and for
the transfer of the Bonds as provided in this Ordinance to h-
kept by the paying Agent as Bond Registrar.
The Bonds • a be registered at .the option or the'hclder
.�hc. Lo:1us I:�,•..1 5
as to principi:.l only or as -co principal and interest, at the
1 s ,� as 7Registrar, m�, F.l.o 'idd
office o� the Director o-�: Finance Donc. Ii�.:.a1. ,
such registration tion to be noted on the back of the Eonds in the space
provi.ded. therefor. After" such registration as to principal only,
or as to U_'incipal and interest, no transfer of the Bonds shall
be
valid unless .-lade at said office by written assignment of the
registered owner, or by his duly, authorized attorney, in a foria
satisfactory to the Registrar, and . similarly* noted on the Bends,
but the Bonds may be discharged from registration by being in .'
like manner transferred co bearer and thereupon transferability
by, delivery shall be restored. At the option of the holder, the
Bends I 1;,7•t...t.-�:. e.. again from time to time be registered or
transferred to ii'-:•1:ref as before. ,'i;iCi1 registration as to principal
oral ' shall Ko t aflt::c t the negotiability. of the coupons which
shall continee to pass by cJ.e:Uvery, ,
(•,ill,, }gut;' Registrar shall r e;niir. e the payment o1 ell
clpenecls incur. re4 b.' him in . connection eith any Puc11 reco versLon, ..
16
z]w.y:!`.c::' '1 is C)j: whiC''l y o'o {:1tc!:' t'i]. t11 'or o {'.h ."X' ' gOVe:r1c 'tt '
ehAto - 1'C`.C:f,Liix::d. to y:. pAdtiiLb reS p c:{. ._O r.iue t ror.'Oi3VrSiOhy
:i11i1tJ. "7:? i'laett` by `t,ho. l'londholdc 1:, :C,:13UE'.t'ting' :3uc h recbriVers ins
rJ`[14 iion :tsu i t i:i: il.1.` Shall net be rettttired to rec onve t , any Bond
-,r!0; r; lft':v !] thi.:; ;'`'.C:'i.'...:1 l' t.i7:t„.n ;` Cifo period of
fiftcctt-1 (15) o tvS nektrprecodinq any int.,;!1'eSt p,.c yMent date o.f
such Bond _Ilor after snob Bond has been selectee for redemption •
Section 2 , 0. / ► nt-o ' 1PTioN or BonDa ,:. i'ho l3oncls shell be
subject to redemption prior to their respectivematurities at
any tiro at ..11e option olf the City either in whole or in party in
the. inverse order of their r'aturi ties from any moneys that may be
:lade available for such purpose, at the principal amount of the
Bends, to 'be. ieioe'ie!ecl, ".together with the' interest. accrued theceOn,
ro L t udate rii:ecror recerpton ,cala vthoulprenit!.m.
If less than all of the Bonds of any one maturity shall
be called for redemption, the particular Bonds to be redeemed
shall 1 be selected by lot by the Director of Finance in such
m inner as he in his discretion may determine.
Not loss than thirty (30) days before the redemption
date of any Bonds, the Director. of Finance shall cause a notice
of any such redet,ption, signed in the name of the City by him,
(a) to be published once in a daily newspaper of general circu-
lation put'1ia}1ed in the City of Niarli, 'Florida, and in a daily
ne,'isp a„p1r of general circulation or a financial journal published
il:
{:11eor outf .1 of I L.r:h%1ttIl, City and State of 11et., York, (b) to
be ,filed with he Paying Agent, .and (c) to be nailed, postage
u-<..•':3d, to, all registered ownersof Bonds to be redeemed at
t1'1e L r i:CtC{l: E::i `•i as they c!pii:•i:r on the registration books hF4re3.II"
above pro;''Li:ed for, but failure so to file or 17.ail any such
Md tir,*! u',-t..? 1 not: o ff ect the validity ty. of the proceedings for
!l notice i lai. Pet forth the date
,aL=��yl ,1. ^�C•�+fs r:1 E l.C):: f 1r�1Cll such Phall
fized for ).-e ^I:,ption, the redemption price to be paid and, if
:ic 7s
Oi:7111 OA of 'c in j Of(Lst:! en ontst;o.i!i-fiil:tl-t. 'bo da.l1cr.1 for
:ho m.li t:t l. L r':a i': u tali; .i?ii.i=1�)''ts, o r :1'. ch Bond:3.
•
On the C?%tLC so !1C!S'!.Cji1a1:GCI for reetti 1) Llon) ' notidd haVih j
17e.,::411 -piibli:,i?cr iri t:t1►w sa?u1��r =. ?c? UnO.or ct10 coilciitiohs .herOingioVO '
1: lt,',? C.`. '��' t:?1 y ...'�l:r' 'f; .f3' �':l'..i' :2: ii :7!' ..�:''• r .'' c itti").a i h: hold
n a t!'," paro.'i.C: accoltnL bY the'. paViticg' AgL L 111 trui t: for Ehq
}.OICa.C.'ra O:% the ti'j??ds, to be 3.:..d.£.c.s!iGe , all as provided itl this
th l $onc 5 SC) C:alie,for redempttott •shall bccoi !e ai1Ct bo
dueaild payable the redemption on pz ic•e pro tided :cor ' reclemption of
such 3onc�:.i on such
d.ate,
in Ler cs t
on the Bonds :gib called tot
redetiption shall thereafter cea c to accrue, the counons,for
interest thereon payable subsequent to .the redemption date shall
be void, such .Bonds shall cease .to be entitled toany bensfit or
•
security under this Ordin.:nce, an i the hole ers .or, ro ist:ered.
o ne'rs of such Bonds shall. }?acre .no rights in respect . thereof
except to receive payment
such rion_eys.
All unpaid interest coupons . which appertain to Bonds so
called for redemption and which shall have become payable on or
prior to the date of redcitption designated in such notice shall
continua to be payable to the bearers severally and respectivel
upo?i the presentation and surrender of such coupons.
Bond. 3 so called for redemption and all unmatured coupons
appertaining t aini12C thereto shall be . cancelled upon the surrender thereof.
Bonds which havu been duly called for redemption under the
F the redemption price
provi $iOn:; of this Article,
price or. which a:?c1 the in;:erest
thereof from
and for the payment ent o:i the , reG.eI'ilp ttion
to accrue tt leresan to the date
t' ri ne s shall be held ina separate
{:t-�.£;u ,.ur z:c:r_'ic�;�:,:ic�Ii sti.. _tca.cn�. .,.0 1 -s � �.
account by
the pitying t: c nt in trust: for the holders of the e ?Jond 3
tea 1)0 redel7ied, a1.1 as provided in this O finance, . shall not -
t:i;i:'.7 Liaf: tcw ha CAf.l:tin,^.c1 to h£; out,`.! t:F1r ii ng . un:1er: the t. :Ovt ion i of this
ty
() cD.I.I'?onc!' to bci e:li►•i.i0.6(.1 t.f•% alv benefit Or Satgr,7
►rli`1c t h L Ofeanendc,othor than ichet, I:1..3ht' -•i.o tcCo4V2O,p,aptlAnt
Mich onc 'Lt.
.1. ` j�,i� f�•.� C�_ :j�• �.�)� l.j ._• 1 •).-. o T�-:`.}w.;.h�' t}i't . Ujtrl:l 7: �• £�
Of t h i ;,Jrocetati of sale' of th'e B,; nds
().) ' tc. uct i.n_j. cafe,; t shall bb ratp Sited by. the C? t in
L:11:1,,SinIzin.5 rti.nd hereinafter. created',
i\ll remaini?ig money:; received frem.the sale 'of the
7, ' i s t accc�un t to be k io �•1rt as the
' onds sila7 to deposited into a �.r
"Ord': e x OV1 Thi: cl Addition t•,areh0USe Construction Trust Fund"
J
(hereinafter referred:to as 'Construction Fund")? which is
hereby created by this Ordinance.
Section 2.09. CONSTRUCTION FUND. The moneysin the
Fund s provided: in Section 2.08 shall. be: used for
C�+n� ..r= � as
:.•tr.�.. �.i.t�r:
the p'c:j_':ient; or the cost of conutrUCti.0n of . the Third. Addition
re tic- Facility, as such cost. i5 defined in the Resolution
Warehouse c...1.11.:..r r
of the. City authorizing the sale and issuance of the Bonds.
There is ey also be deposited to the credit of the
Construction .ruction Fund any moneys received from any other source for the
' Facility. � . The moneys
construction of. the Third Addition Warehouse F acili+-j
in the Construction Fund shall be held in trust and applied to
the c .0:ty':ent of the cost of the . Third Addition 1•:arohouse Facility
and, p:.`ni- ing such app1ica ion, shall' be subject to a lien and,
chrz:._ge in avor of the Holders of the Bonds issued and outstanding
under this Ordinance and for the:' further security of such holders
Li''►+:i.l. po Lci out. or transferred as herein provided.
19
ft an �i?1 t--.0cn C•C1 halo co o fundsE.hall.'rc2?t`:An in the..
a'
CC)Yt:i FLOC i:1i on .Vun al L r Lht c:ondiei'_l on of, thce Thi d ; iitdi-t? oh
V: trcli?ouse' Vaei.!'Lty, suet r'lnot.:pE.lC1Gc.'C'1 bd1.Elt1ce shall be', C epos].ted
an the Binh tu. Fun :
2.10t. .i.. �ti-'••�i. t.'S.:. ( • C01::?`l';,1,.)t_.T f On'i
21'entyS it tho Coc; s trUc: ti on I'unrl., not ry Mmediately needed, f or the.
purposes of . s 'Ch fund, may be tem of r1.ly invested and ] eit-tveS'tet,
y {
;by the I)ir.'ec:tor riL ;roan e in g'oVernr•.tent ob:lications whichshall
Mature, o_ which small be subject to redemption by the holder
thereof. at . the option of such holder ,'° not .later than the respective
dates, as estimated by the City Manager . from time to tine, When the
moneys held for the credit of said fund will be required for the
purposes inter° nd 'C:,
Any and all income and interest receives upon any invest-
ments .or rc invesLDen'LS of moneys in the Construction :arid Shall
be deposited in such fund, F3ncJ all investments or reinvestments
shall be liquidated whenever necessary to provide moneys needed
for the purposes thereof.
Section 2.11. LIEN OF BONDHOLDERS ON CONSTRUCTION FUNDS.
•
Theriolcf^rs of the Bonds to be issued b�• the City shall have a
lien on all the proceeds of the Bond s deposited in the Construction
Fund until such monoys are applied as provided herein, and, as
trust. ffunds, ':ii?a l rtot be subject to lien or attachment by any
creditor of the City.
ARTICLE III
n JPC)S ITA1U S or nONE 's
sc•c- ti on 3.01. ?J:r?FUSTti' OF MONEYS. 'sre^,eivea by
the C.:i.Ly l;?hd:ll: ::ho provisions of. this O'*dinance shall be deposited
z3:: rec^..'; vt* d 11 i-#1 one or i oro Depositaries, and shall be trust funds
under• , 'LLB': tors hereof and as stated herein shall not be subject
to 1 J• �'T� r e t t a c:i''nr.. * L i,r4, any creditor of the City,' Such nopo 'S
f; ha i-], ii:-! held 7.71 trtts t and applied 1ri accordance With the provision$
c.f' this Ox:.ir;,,;1eo r
20
6epebitod t•ii. Cif any' hop j.tatV in .tri
a touunt oXetteeding - Tif ty fv r t..jt:'Gui' ; (50 „ c r.'ittni: k;ih t.h an
officer of. such fcpotat ary shall cc't Li. t to the bitectet Of
Vi.ttal?Ccz. chi tht coMb1.'iccd capital and surplus Of sudh. i)epoSita1'j':
ijt •i�tif: �.ic.ti'1'' F7i'1:JU.3':j:::.' in
y q_ 1
c =i guarantee U iJ� the red:.if_ al Deposit Insu : ande
J
Corporation cr other federal agency shall be continuously SeC.tt ed,
for the benefit of the City and the holders of the Bon ds, either
(a) by logging with a bunk or trust company approved by the
birecto?: of Vir_ance as custodian, as collateral security;, U. S.
1,
Co�tern�:icrli: Obligati „t:�ons or other marketable securities eligible
as security for ,the deposit of trust funds tinder regulations of
the Comptrolle7_ of the Currency .of the United States, haling a
market value at all times (exclusive of accrued interest)
than the amount of such deposit, or (b) ' if the furnishing of
security as provided in clause (a) above is not permitted by
applicable law , then ,in such othermanner_ as may then be required
or pe):mitLed by applicable state or federal laws and regulations
regarding the security .1 or, or granting a preference in the case
of, the deposit of trust funds; provided, however, that it shall
not be necessary for any Depositary to give security for any
moneys which shall be represented by obligations purchased under
the provisions of this %r. t.icl a as an investment of such moneys.
n i Depositary shall he
All moneys deposited . with each U � o
-s 'tha particular fund to which such moneys belong.
C:;:�.�.��.tC.s to � 1..
TAT_ TIC:Li.: IV.:
CO= STRUCTIO:: A:•ill LASE OV THIRD
:ADDITION WARCITOUST r'ACILIT'
;;notion 4 .01, CITY 'A) CONSTRUCT FACILITY. The City
,hall construct or cause to be constructed the Third Addition
Warehouse Facility Subject- to the provisions of this Ordinance
and subject to the terms of the Tac!afie,
?:i
1
7s if�fR�;1� �j� PA.CT hi'r'Y $ The CjtE' do:'s by l.ht§6
cyG i::1.C111 �! c
ptest'1'►t coVonaht; and agree to lease to tho dran ie. iio i ColftMi .:ce
Third Addition the.c t-7a1rc:llc+ti c 1'aciility refr_i=7 ed it> in the
hei eof ' inc7 t:,o,'e _ruj i d'.eacrIhc d in the Lease attached. hereto Which
•
fort and llubStande With -:tight Vested .
toaSe.iS hereby al,pi`o°ti :a in
in i.4n Dtrettt-.0r :Sf
Libns tot •: ccommeda•4a.on of ear tics .
to
2.r. t f4�1
ring
The lease lease term shall Con tintie
until all the Bonds, and any roan -camas thereof, and a l interest
thereon, have: been ft`i:� ly paid and di schar e
8ection'.4.03. 121;8TRICTIO On ACTION OF CITY. The
City covenants and agrees that it will not suffer, permit or
take any action or do anything or fail .to take any action or
fail to do anything which may result in the termination or
cancellation of the Lease so long as any Bonds are outstanding;
that it will fulfill its obligations and will require the' Lbssee
to perform punctually its duties and obligations under the
Lease and will otherwise administer the Lease in accordance
with its terms to assure the continued operation, management,
repair and maintenance of the Thi_ra 2 c1dition Warchousc Facility
by the L2 sec and. the Lessee's payment of the full rental payments
thereuiic?er and the costs and expenses of operation, management,
repair and maintenance of the facility in accordance with the
terms of the Lease; that it will not cancel or terminate the
Lease or cause it to be cancelled or terminated except in strict
accordance_ with the tens of the . Lease; : and . that it will not
agree Lo any abatement reduction, abrogation, waiver, diminution
cc other: r.'ociif i.catiof in any Ti'.! nner or to any extent whatsoever
of the obligation or the L`.'.:isec or any successor thereof under
the Lveso, to ray tho rent .and to meet its other obligations
r •••'rovided ' in t11Yi Lea pie .
Nec tio:2 4 , 04 , TE1:? rNAT tC»i 0^ ',EAU, to tho event of a
t.ri'rzinatiOn of , 'tht LC t 4, R.11e C:7. Gy Shall •USC its beast
on Le:c pr other agrepntp for the uae
'i'%t: rti i'.a-vhou$c, ,I'� 41.ii / it Order to produce
its:611lit ci:C :ce yonue t orpfrf?m i
efforts to
of tho
th0 mayxlmu r
j)AY :1V.O ! ' l) 't`:i J'it:I:C'. !Fi'_l:Oi Ui'' I:S :.nUl +
i �)_���'i ili_v`.l' �l"" lsi'�!•trJ.tAts x F��Z1:»' -Y::t tal . ay c n i s
��.C: t•.lbl. 5.01. .
irOvi6e4' in the: ]::c7z:s«:,1 annc\ed, to t ►Za.n Or{;inanen' sl?n1.l. be
the tt?anner proY7."c+c d in this Chi d.inanCe x
x
Election Lion 5 0'' 8It t T •,,fit I t� rental art' pUtchasc
C,fh h � � [ t• x ti t��L\..li t FUND. l'v �. 1�� ;a,.._
pap:tents shall be c3.eposito6 by the City into an account to
,.., Bond `sheerest
be known 's the 'Third .ddition t'iarehou e Facility
Sinking ? + (hereinafter 3o ;otitnas referred to as the
and Fund" cl'' ( � � •
x
'" Interest and Sin i rig rune r the "Sinking Fttnd") , i h? ch is
hereby created and established. The moneys in the Sinking
established.
Fund shall be a.pplied..by the Director of Finance in the .Eollb:" ing
manner atidfor the following purposes:
(a) First, for the pay ent - oi:.principal and i nterestr
anti , handling charges 't:hcreon, beco=ning clue and payable on the
Bond;; during the cukrent f7 sea. 'car and deficiencies encies for prior
fiscal years.
(b) Second, all moneys . i n the Sinking Fund not needed
for the payments provided, in subsection (a) above may be used
at the discretion of the City either (1) for the purchase in
the open market, at any time, of Bonds with all unmatured
coupons attached thereto, to the extent that such Bonds shall
be available for purchase, at the best prices obtainable, but
in no event to exceed the price at which said Bonds will be
redeemable on the next .ensuing redemption date, 'or (2) for
the redemption on the, next principal payment date of Bonds
eligible for redemption.
Section i.on 5.03. :1:2 VES'.ri il.I 'i' OF S:CN WIli0 FUND. Any roe , in
the Interest and Sinking nk.ing i'uitcl, not immediately reedcd for the
purpor.O of suci1 fund, may be tertporarily inver,ted b the pi rE C(+Or
• of Finance
in U, :. (iov u:ilm!nt Oblicfatton i i'eh.ie1r ^LI4i1 ?:~;:r't:n e
or
,Ili to?' s`I;ta a bL,' oet i:o roO pt 1Q11 by t. ' hol a.-;r tb;:trPor at ,'lt:.ho
ollt'ion of such holdei not later t:h;In the dates s`.'hon 'tho :Ttoneys
hold for the credit of sail ft nd i' ii be rec ti.red for the )t.trpbio
i 'ttc!h 5 d o
6oliccations so piarchase0 as ' an lhVCis t.i..c.i1% of tt.0neya, ih
such ft io. Shall he cicc' i.cd at all times to he apart of sttch fUrd,
and Lho it'tte est accruing on obligations so purchased . aict any
profit realitocl from such investment shall be credited to such
fund, rtnc1 any loss resulting from such ihvestmeht shall ba charged
to such fund. The Director of Finance shall sell at the best
i3r1� ce obtainable or present f0r, redemption any obligations so
purchased whenever it shall be . necessary so to . do , in order to,
provide moneys to rieet any payment from any such fond. The
Director. of Finance shall not, be liable or responsible for any
loss resulting from any such investment under this Section or
Section 2.10.
ARTICLE VI,;
SPECIAL COVENANTS
Section 6.01. PLEDGE OF RENTALS. The City hereby
covenants and agrees for the benefit of . the Holders of the Bonds
to be issued by the City that so long as any of the Bonds or
any refundings thereof, or interest thereon, are outstanding
and unpaid, all o` the rentals provided for in the Lease :hall
be pledged to the payment of the principal of and interest on
the Bonds in the manner provided in this Ordinance, and the
holders of they Bonds shall have a valid and enforceable first
and exclusive lien on the rental; until paid out and applied
.in the manner provided herein. In the event, however, the.
Lease sh 11 for any reason be held revocable and shall be
terminated, then the City covenants and agrees that the pledge
j.1:.icle in this Ordinance of the r ent:a1 , hall coIttinue sand tile
24
rentals sitrtlj. be 7Pfii-ied its. provided in this ordinance Until all
the, Bonds or any refundings 't ?ere0f, and the interest:theei:e°oh,
ate paid 1ilici d i:,CharCJea>
AM/BMW., t t}t
Section
0 AtST I l i \7 ON T T \'i ' fl i City 7 l y,
6eCC: j,On � i l/�t � �ti[�i C.51I�.LL1���2i \ J 11•i .� Y �� t���i-, l+.y l.� �d4��:1_t�11tJ
and agrees,.1iv=l'L nonebf. t)1, +:. rn; onues of the Third Addition Ware,-
.
a,q
house Fa::i 1 ity 0.1t ' be Used for any purpose other than at provided
in Lhia 0 :dinatice, and that no contract or contracts will 11e
entered into or any action 'taken by vh .ch the rights" of the
ondholciers might be impaired or diminished, The City fur:the
covenants that it will adopt such ordinances and revolutions and
such rules and regulations as may be . necessary or appropriate to
carry out the obligations of the City order the provisions of
this Ordinance
Section. 6, O3.• ENF0RCEABJ IT BY :BONDHOLDERS. The
City hereby .irrevocably agrees that the covenants contained in
this Ordinance, including the pledge of rentals as provided
herein, shall be deemed to have been made for the bcrefit of
the Holders frog time to tine of the Bonds to be issued by the
City, and that such pledge and all the provisions of this
Ordinance shall be enforceable in any court of competent
jurisdiction ° by any Holder or. Holders of such Bonds, or of the
theretothe City. The City
coupons appertaining against
hereby consents to the bringing of any proceedings in any
court of competent jurisdiction by any Holder or Holders of
Bonds for the eniorceeient of all provisions of this Ordinance
and does hereby waive, to .tbe entcac permitted by law, any
privilege ;e or ir_m1 ti.t• f.iso:ct suit which the City may now cr.
1�,i.:Cc: :`:Lor have as a JtJitc".v!t?",:.:.tis entity. .
{)j:i9:l.�. �i�.l•�»:1%t�il�J anv of the othor provisions of 'LIils
t. io.1 of th ` ('i'` authorizing thes
'.}tc�:;'tt�.�nct;: or of the :;e:.;olt �. y
sale of the Bonds, no Holder of the Bonds shall have any right
to compel or require any appropriation by the City or the'
exerci.sof the LaWiiig pot of 'the City fort (1) the
payment of the rentals clue under thr Lease, provided' for
in Secttion :4.02 hereof; (2)' .the payment of the principal of
or interest:on the Bords; or (3) any other payments provided
ih this Ordinance, Lease or such Resolution.
Thu lien on and any rights of the Holders of the Bonds in
any appropriation, if any, if made by the City shall not attach
until the same are made for such rentals, principal or interest,
or other payments provided for in this ordinance or IZesoliition of
the City. Upon the making of any appropriations for the rentals
due under this Ordinance or for principal or interest on the
Ponds, the Holders of the Bonds shall . have a lien thereon until
applied as provided in this Ordinance, which lien shall be
enforceable in any court of competent jurisdiction by any
Iiolder of the Bonds. Provided nothing in. this Section contained
shall be deemed to
poser. • nor to make
require the City .to exercise its taxing
any appropriation for the, payment of :,the
principal or interest on the Bonds.
Section 6.04. \Y POSNT; ENT OF TPt{SWP. . The Bolder or
Holders o. Donds 3 n an.. aggre(late principal amount of not less
than twenty pc-:r centur: (20 r5) of the ' Bonds then outstanding may
i
by ctn 3. str'.z`annt in ;4r3ting appoint a Trustee for Holders of such
i3:)n0,`4 with authority to represent such iimdholders in any icaal
the en::orc:ren,.: and protection_ of the rights of
:312:t. on '.loll:'. ,.:;. Such in si. r.TI�' t shall be executed by uch
or :. , C (July -aut:Z.Jr1 ed attorneys or re1.)resen;.catives
it1 i .i.lo with the City in a form approved by the City.
f' .;','' q 110 1 J.
?';C re In co n !-erred or re*erved tO the Folders
.02 110n6 s .Ls L «.nd ;1 to 1)0 c::c111s ive of -any other remedy or
•
provid�: o, and each o.ru.i every such remedy Shall
•
(.•,' :) :1.,: t:i +a+:: annn 3 ; h,74. U he in Addition —to every other rer,:edy
No. ,"si'A:ty or otdss1.on3 of any II0:I..lor of the Bond to. eXerci e
0;11 4t; t 41141 impel ' any Minh
2G
by
ieht or L7bwor bi Shall �)w' T?�:it'.
cOrit�.'.Ct' LC) a WaiVer of iiri1'' Suds
default l,t or an , r Cqliie sc:r:i1C:':'! t 1C1'1. r1 i c`t Illl G'Very i:ki,4c:r ar'd rC.'i'irr'dy
cliVeil 'by this 7 .°t:4 ele T47 Lho ; tio] ctc3rs o, t.:no tIon s nay:be
eXerci.sed fl:ot'1 time tel L,i:.c and as.often ten as nay }.)t' det:i:ed
expedient.
i
A-kTI C:I,I:. V Z C
nisubLmInous
Section 7.01. u. r'ut,s9 or' 3C)NU;IOJ Pf?S . Any re ue; t,
direction, cor: en L or other instrument in Writing required by
this Ordinance to be SL(;n d or excl utOC? by t3ondIiOlderS Total' be in
or I?t.>..r,'3C:L o{ concurrent i7lst'!'L'.fi:c":rItS of similar tenor and nay be
sic- it eft or executed d by such Bondholders or their attorneys or
3ccLtl" representatives. Proof et the execution of any such
instruncent (m(' of the ownership of ?3onc1s Shall be sufficient for
:,inV L= i r rJs O o1: this Ordinance if made d.e in the following manner:
0 s:le fact v.nd date of the execution I]1► any person of
any such iii t'.r ui".ont ." a.,' be proved by the verification of any
of Lc•2?' in any ;j1:tri, •:~1.ciion who, by the .tu::'s thereof, has power
L.C) 1:itri3 .t1 such ']i?risCdi.cti.ori, Lo the effect that
such ii'S ):Ct:!;: n t\.'-?... subscribed and sworn to before him or by an
£ i:7:? C:i).VJ. t . o i' witness to such c>:c!cut .on .
(b) Y:1.5 fact of the Bolding of Bonds hereunder by any
Jlfter and o %aI" o-,—..nL ar . .i'•rl+: nur.lbers of such Bond and the
c1:' ae o: his ?vIl:1inc; the sr:::ze (unless such Bonds be registered) may
of the person claiming to be such holder,
:) i" by co,J.: i»,L is C; ::... c ::+'c u t'ed by any trust: commpany,, ban}:, bciiil.er
U::}'I;.:?: d;'' ..'iiL;.:.:y, wherever situated, , showing that at the .date
sneh person had on deposit with or exhibited to -.
other ' ita7:y the Bonds
.St:+:i2 t�'..?"'.:.�,i: '.«�:;I't`,', i7:-�I:}:, banker or:otherC�C.�.C�S
341 such ' c. t t:i:: i cat:.e. Thu ownership of rec,,ji,stered
i::),t :S shafl. }ace provod a*T. the registration boo7is },cpt under the
! .. ' j o'.i , of V.:is Odinc':.:1c'i;
27
Stct.t! ! y7 a Sc,OPP, f? :)t�•;11y'et-it . =11 {+fa'?L1 L')
obl.l.tftl t:?: nt,i %;ilt1 a g t c o;'a `.nts off, the. City cork LaihOd ' .n thib
(5):C14.hahct.' Etitilt7 .X)=': ti^etn..''dtO be C:Cf'tohants, ;tiptilatiot£;, 6b1J.t;ciF-
t1di13 a. i1Ci agrecill Its of C e City" and o.t. thc' C:tty Contibbibh. a21r.1
citlth6lt i iti or pe mittcd
and all
\:U t..ai.'. ill it ex oii't:
Snell ceVenantt,
Lions and a! r.er`?t•ent.s shall bind or inure to the benefit, of the
successor or r ucces ;ors. thereof from time to time and any officer,
board, body or Cocommission to whom or to which any toner or di-*,:
affecting such covenants, stipulations, obligations and ,agree-
ments shall be transferred by or in accordance with law,
Except as otherwise provided in this Ordinance, all rights,
powers and privilegesconferrers andduties and liabilities imposed
upon .the City or upon the City Commission by the provisions of this
Ordinance shall be exercised or performed by the City Commission,
or by such other. offic <'s, board, department, body . or commission as
iaay be required by law to exercise such po.::ers or to perform such
duties.
No covenant, stipulation obligation or agreement herein
contained she:11 Y'c deemed to be a covenant, stipulation, obligation
or agreement of any member, agent or employee of the City Commission
in his individual capacity, and neither th3 members of the City
Commission nor any official executing the Bonds shall b4 liable
personally on the r3onJs or ba subject co any personal liability
or, accountability by reason of the issuance: thereof.
Section Li.o_. e r 7.03 . •If'.' t OD AND PLACE Or NOTICE. Any notice,
d:i.rectz•ntl, reclu st or Oi:}:.^•r instrument authorized or
regvired ;by t:ha. • Orcli.m,'ct... to be given to or filed 'with the City
or the. City 'Co:Yi scion :iita11 be deemed to have been sufficiently
given or filed for all purposes of this 0;':OinEtnce if and when
sent by reuiritered mail, return rt=c;elpt: rntluestec1;
20
b Ji'
t o the C'i.'t:i , " Lt aaet os ;:.art to Llie City 1`• €th get
the j:iirectbr o l'inatice of the C. Lty . o,: lr,.t.ani f.
1'11Cti i t Florida)
to tho City Cuti)ttissiC)n, it 14c413:08:1501 to Ci.ty-
C��)i'''':?..�:, City 0;
.Section Y•i';i 7' Y it .: 3t t i i' i. i1' e iy,it1
CA
7. 0� Y ' �11�1..�Rr:r,.t'_� l�ll:�J.t-�Ut7 OF 13b dG �. If � G�., so
o . the temporary Or permanent suspe1' i0n , of pubiica.ti.on of anly -
4
nelaspaper. or finandial journal or .for a iy. other i eation, the City
shall be unable to publish. in 7. newspaper 'or financial journal
any noh ice, requi.recl to be published by any provision of this
Ordinance, the City shall give su%h notice it :such Other manner
as _h..31_ most effectively approximate stu.h publica•L-ion, and the
giving of such.notioe in such ;:tanner shall for all purposos of
this O. dinance be d►ce ed to be compliance tiith the requiroi:+ent
for. the 'publication thereof. -
Section 7.05. LINT \T'IO.:.OF RIGHTS. Except as herein
'otherwise e;tpressly provided, nothing in this Ordinance expressed
s d to confer upon any
or ir.:,�i_i:�cl is intended or shall be construed u=r
nsrso.3, firm or corporation other than ' the City and the Holders
of the Bonds issued unc'?er the provisions of this Ordinance :any
right, remedy or claim, legal or equitable, under or by reason
of this Ordinance or any provision hereof, this Ordinance and
all
it:, previsions:being intended to be and'being for the sole
a:::; exclusive benefit Of the City and the Holder:; from.time to
Lime of the e Bonds issued hereunder.
Sctetiu:t 7.06. TJ:II A rf'•1 OF L'!-<'1t3:CLITi'. Nothing in the
COUpt:L:t`•: or in'. this Ordinance shall be construed as
p C?C•g; r.i' the ?;s1 i t`h and credit of the City of Miami or as
t..r • J
,. debt & + City, or a: obligating the City,
C;;1''it".:i.?t�; i.tn� G''.r.;) of 'ta.:. r .. �
eithec directly, 1 naiIL CL7y or contingently, to levy arty ad
Li.t,;o or to j:?:ti*4 itnv appropr -atioPs for the paymo fit, of
Bonds or eou;Jons or for the operation and Maint:enan?e of the
w4> j'r'hon , or mi creating any lien upon the 1W'[trehouSec,
R9
sect: Loi' .7.07.- AtIOt,18il"-INT Or. WeTICE,. In the event that
City
f. µ f r ► k, C.ler'.: D.i.t-ticLot: of }.`in'nce, i M nagcr
i i
the o:. is E:c of ;�;:-� of i C.. �r ;
or .C;1li'.v %1t:'t:Ul'11C:y S'1311 a)Cj abolished or any two or ' more C7r, :iUGh
°� in ' 'Ale even o a
offices . shall be merged or consolidate,' or ..,
vacancy i n any such o i icc:- by reason or death, resignation,
Lion,
i`emoVal fto :l office or otherwise, or In this eVcr L any such officer
Shall be incapable of performing the duties of hisoffice by reason
of richness,' absence from the City or othe-r:•ttse, all po•c•:er i conferred
ar_d all obligations and duties imposed upon such officer shall be
performer by the officersucceeding to the principal functions
thereof or by the officer typo:: whom such po ers, obligations and
duties :,hall be imposed by law or by. the City Commission.
Section 7.08. SEVERABILTTY OF INVALID PROVISION. If any
one or more of the covenants or provisions of this Ordinance or
Lease sha
ll 11. be held contrary to any express provisions of lawor
contrary to the policy of express law, or against public polity,
or sh�l.l• for any reason whatsoever be held invalid, then such
covenants or p?:ovisiono steal 1 be null and void and shall be deemed
separable from the remaining covenants or provisions of this
Ordinance or Lease and shall in no way affect: the validity of the
remaining covenants or provisions of this Ordinance or of the Bonds
to by issued by ths City.
Section 7.09 USE OV LDDI.'_CION:'1L FUNDS FOR DEBT ,Pit CNT.
t•;o phi. 5 ha�. -ein contain_:: shall preclude the. City fromusing any
legally ► i.l ble funds, , in addition to tha rental payments
?1:.=ein prov'LU'.-d, which may ec::'..: into its possession, including
the iJ"U:,::::C S ? of sale _le of refunding in bcm(t , contributions or grants,
a - ._.
t f payment f principal of and intet'est., on the
for iit'.� purpose C.):- �.C:1••:.. 4 0.�
pin:c lase Or ` re:lemp t i011 of the Bonds in accordance
Bonds, 'or
With th , pzovi.u.i.pn:, of the
Its of ut.iof of the city aut~hoti:ri.r cj
th issuance of the Bonds.
Section MO. 1.0. .''BOPS'Y Or CITY OF0tCsR8. The ofPicots
find i1C� ;nts of t>h:2 City ate hereby authorized . antd.'direct d to do
.i1.1 h3 etc to and 'th4n�.:, required of the: t } the Bonds and this
1 �.,� c pari o ra tttc�+ of a]1
7 ti {. .iC)?. 'i:i!;' :i!27.1.'} �?U*?�.t.tFr� t i'.F1C.. rL>..'t)1...
i.�� Ca Z. psi: f: C� -
c)f the terms, covenants, provisions and. agreements Contained
i ►_l the ilon i and this Ordinance.
Section 7.11. EFFECT OF ORDINANCE. Upon the issuance o.E
the Eot'tr?yunder the provisions of Section 2.0
1 of this Ordinance t
all otainances and rei oliti:ions and pacts thereof and all provisions
of The Code of the City of nia„u., F loricda, as amended, Which' are
inconsistent: with . any of the provisions of this . Ordinance band
the, sang: are hereby repealed to the extent of any such inconsistency.
Section 7.12. i'OSTING Or O1;DIWINCE. A copy of this
Ordinance shall be posted by the City Clerk at the door of the
Dade Covnty Courthouse at the place provided for notices within
five (a) days after the 'passage and adoption hereof.
Section 7.13. :.i: Rr.3ENCY Or.Dlia:1NCE. )?or the reasons set
forth' in the preambles, this Ordinance is hereby declared to be
an e ;argcicy measure on tha ground of urgent public need for the
?;:eser :'atti Jn of peace, health, safety or property by a four --fifths
(. /5) vc;4s; of the members of the Commission.
Pr\SS a t1;:D ADOPTED on this Ar day of
1979..
31'
. MAYOR
MIAMI REVIEW
ANB BAIL fitBSliB
hittithed Not toot I -toile*, §ttiolo
. teed now*
Abe tis bode toUhii,' Plodder
BUM '60 ft 6 IbA
COUNitf.o bADt:
befOrd the Undefsighed atfthbflty brerienaltY *P
penned Martha btbbnfe, who bit oath sey3 thet She
is the_ V.P.; Legal Ads of the Mienit R6Vieer end
Daily Record,, a daily (d*cept Saturday. Sunday acid
Legal „Holidays) newspaper published at MIAMI In
Dade County, Florida: that' the attached copy of adver•
tlsernent, being a Legal Advertisement or Notice In
the matter of
City of Miami t Florida`
Ile:
ADOPTION OE' olloINANCpi No, 8295
in the
CX5t
was ppublished in Said newspaper to the issues of
boUtt,
Afftent further says that the said Miami Review
and Daily Record Is a newspaper published at Miami,
In said Dade County. Florida, and that the said newt -
paper has heretofore been continuously published in
said Dade County, Florida, each day (except Saturday,
Sunday and Legal Holidays) and has been, entered as
second class mail Matter at the post office In Miami,
in said Dade County, Florida, for a period of one year
next preceding the first publication of the attached
copy of advertisement: and afffant further says that
she has neithet paid nor promised any person, firm
or Corporation any discount, rebate. commission or
refund for the purpose of securing this advertisement
for publication I ewspaper.
before me this
yy,,,,. 't
3n •!isy�ot Jule ..+.i. A.D. 19 74
tj one TJSmith
Public, Wife d/ Florida at Large,
(SEAL)�. jfta izil
My Commission expires September 1, 1977.
tAMt,::.
PunlbA
Xi. ?t °t►fir't(
alai Interested iti take ttnttce
thtit di the- nth day. 6t` Jttiy,.
1y4. The diffit 'rsinh of the City
nt it#iemi; i IYitfdn iidolitett 'oti
tiFdinanc►* ttititl+.tt-=
A 'Oitbi'M& Ci At,rltOtt-
i17.I.NG THE •SSLACR OP
$3rt,,oO1.00ORANf;E, BOWL
�VARF:HOt:SE REVE-Nt;E
430N1YS, SERItS. 1974. OF'
THE STY 0t' MIAMI,
FLORIDA.' 1`OR.F,Ti1E
TOSE OP PA41N0 THE
COST OF CONSTRUCTING
AN ENLARGEMENT OF
THE, $-t{TST1VG , ORANGE
BGW,t•L WAttEFHOtjSE
. THE
CITY; PROV1b1 c
'PRAT T3#E ttliNCTi'AI. or
AND -THE . INTER FIST ON
t C tiif BONDS Vl`T I.L lit;
IPAYARLE ' SOLELY: 7ROMt
THE RENTALS UNDER
LEASE BETWEEN- T H 7
CITY -,AND THE' ORANGE
BOW L, COMMITTEE.A
ixo' -PROFIT CORPORA,
T80N, AND THAT SUCH
...:BONDS . SHALL NOT • CON=
:. STITUTE A 'DEBT O1 THE
,OILY OR A R'LEDOE OF -
ITS FAITH, AND CREDIT:
SETTING- '• FORTH THE .
RIGHTS . AND REM11SbIEs '.
OF THE MOLDERS . OF
SUCH BONDS; AND DE-
CLARING, BY. A FOUR-
FIFIIHS (4/t,1 VOTE OF,
tI1l3E•Mtt~1tBERS OF • THE
COMMISSION, THAT -THIS
ORDINANCE IS AN EMERY,'
GEYCY itEASURE-ON THE •
GROUND OF URGENT PUB-
:* LTC NEED '.*FOR THE
PRESERVATION OF
(PEACE, HEALTH; SAFETY
OR PROPERTY. •
which is designated Ordinance
No. 9295.
11. D. SOUTHERN
City Clerk
City FinHda
Pttt'icaltnh ut this entice Ott
the r',`t day of July, 1974,
'/39 :VI 71121