HomeMy WebLinkAboutR-73-0104RESOLUTION NO.
73-104
A RESOLUTION PROVIDING FOR THE SALE OF $28,350,000
PUBLIC PARK AND RECREATIONAL FACILITIES BONDS OF THE
CITY OF MIAMI, FLORIDA; SETTING FORTH THE METHOD OF
PAYMENT OF INTEREST; THE FORM OF NOTICE FOR BIDS FOR
SAID BONDS; DIRECTING PUBLICATION OF NOTICE OF SALE
OF SAID BONDS; PROVIDING FOR THE BIDS TO BE OPENED ON
MARCH 8, 1973; SETTING FORTH THE METHOD OF BIDDING,
AND SETTING FORTH THE FORM OF THE BIDS.
WHEREAS, Lh,?. -"!fs :1L7 -
sometimes called thf: "City Cc.:,...*.:sioh") th,? Eth clay of
1972 duly passe r.1 -s()lutlon jJL
for the issuance of b7in..:3 (.7iz.y of :!ial,1 (her•F,ihatttL,r
sometimes calluci the "City'):
Resolution No. 72-15 pr)vieldnc 'Dr thf:! is!3uance c':.
Public Paly. FaciliLies
of ,)7!: fthc: .r.-:Iminatioh of $5,00....) •
-;r. e .,-.;-,
: '•
Year.,,,
Date or
2 -..,:,,rIlt:fl); 14
•=t ..i,6,..-.,,,Ju) 16
T 17
6 1,66=';,n,ii 18
'
7 • 19
6
9 . , {)r:,:.-., ; .::q-i's-. 21
10 1,f ..",5,32C) 22
11 1,6f. 5, 0.. C
--.)--)
12 1,66,600 24
13 1,6 ','»r25
and
tie t.
WHEREAS, said 1.rvides that all c;r7 any
of the bonds thereln Itboried ;7:1y be redeemclble pricr
Lc.)tcr respe,:tive ( 61.1Ch times :,Ind prices
':.ricler such terns
T.he City Cor.:-.1ission sh
determinE. by rtS; LO tr sale of tie hohus,
t,oth thc princlpa] r)c .1:11:e1st: on the bonds shat
aLle at a bank or
•
Lhc, Boroucfh of
•
•
1
73 et°
City and State of New York, or at a bank or trust company in the
City of Chicago, Illinois, or at a bank or trust company in the
City of Miami, Florida, at the option of the holder or registered
owner; and
WHEREAS, the City Commission has determined:
(a) that $28,350,000 in principal amount of said
authorized but unissued $39,890,000 Public Park and Recreational
Facilities Bonds shall consist of 5,670 bonds of the denomination
of $5,000 each and shall be issued and sold at this time, said
bonds to be dated, to be numbered and to mature as hereinafter
provided;
(b) that none of said bonds shall be redeemable prior
to their respective maturities;
(c) that the principal of and the interest c :su.c : ci:c:E
shall be payable at the banks hereinafter designated; and
(d) that the sale of said bonds shall be held and .,Mice
thereof given as hereinafter provided; now, therefore,
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. There shall be issued and sold at this tir
said Public Park and Recreational Facilities Bonds in the aggregate
principal amount of Twenty -Eight Million Three Hundred Fifty
Thousand Dollars ($28,350,000). Said bonds shall be dated as of
the 1st day of October, 1972, shall consist of 5,670 bonds of the
denomination of $5,000 each, numbered 1 to 5,670, inclusive, shall
be coupon bonds registrable as to principal alone and also as to
both principal and interest, and shall mature, without option of
prior redemption, in numerical order, lowest numbers first, on the
1st day of October in the following years and in the following
amounts, respectively:
Year of Principal Year of Principal
Maturity Amount Maturity Amount
1974 $1,165,000 1986 $1,185,000
1975 1,185,000 1987 1,185,000
1976 1,185,000 1988 1,185,000
1977 1,185,000 1989 1,185,000
1978 1,185,000 1990 1,185,000
1979 1,185,000 1991 1,185,000
1980 1,185,000 1992 1,185,000
1981 1,185,000 1993 1,185,000
1982 1,185,000 1994 1,185.000
1983 1,185,000 1995 1,185,00n
1984 1,185,000 1996 1,185,00C
1985 1,185,000 1997 1,115,000
Section 2. Interest on said Public Park and Recreational
Facilities Bonds shall be payable semi-annually ,.2n the 1st days
of April and October in each year, and both the principal of
and interest on said bonds shall be payable at The Chase Manhattan
Bank (National Association) in the Borough of Manhattan; CiL• 3Li
State of New York, or at Continental Illinois National Bunk
Trust Company of Chicago, in the City of Chicago, Illinois, or
at The Florida National Bank and Trust Company at Miami, in
the City of Miami, Florida, at the option of the holder or
registered owner.
Section 3. The Director of Finance is hereby author_.z:i
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, and
in The Daily Bond Buyer, a financial journal published in New
York City and devoted primarily to municipal bonds, each of such
publications to be made at least ten (10) days before the date for
the receipt of bids, which notice shall be substantially in the
following form:
NOTICE OF SALE
$28,350,000 BONDS
OF
THE CITY OF MIAMI, FLORIDA
$28,350,000 PUBLIC PARK AND RECREATIONAL FACILITIES BONDS
3
Sealed bids will be received by the Commission of the
City of Miami, Florida, at
Pan American Drive, Dinner
Eastern Standard Time, on
its regular place of meeting at 3500
Key, 'Miami, Florida, until 11 o'clock A.M.
March 8, 1973
at which time and place all bids will be publicly opened -ind
for the following bonds cf The City of Mlarli , Florida, all ci , L
October 1, 1972:
$28 , 350 , 000 PUi3LIC PARR AND RECRE1 = .t"AL
FACILITIES BONDS, maturing annually, .:-obey 2,
without option of prior redemption, as :l lows :
Year of
Maturity
1974
1975
1976
1977
197,
1979
1981
1982
1983
1984
1985
Year of
Y, - t u l i t y
1988
i
q87
1989
1990
l Cl Cj 1
jag
?DC.?
1994
1G(15
1`J'9C
1997
Denor,_natior. c 0 ,' , uou.: o:. lion:3s re <i(-traf,__.. :is
principal alone and also af; to Loth principal and interest;
principal and semi•-ann.:al i:: ereF.t (April 1 and October 1)
payable at The Chase lanhattar. bunt: (National Association) ,
in the Borough of Manhattan, City and State of New York, or at
Continental Illinois National Bank and Trust Company of
Chicago, in the City of Chicago, Illinois, or at The Florida
National Bank and Trust Cmpany at Miami, in the City of Miami,.
Florida, at
obligation;
the option of the holder or registered owner; genera]
unlimited tax upon U11 taxable property within
City cf Miami (excluui.r,c r:cmesttDds ).
The bonds wer:, valid ted by judgment of the Ciro..
]Ct
of Jade County, Florida, on May 23, 1972, such judgment. wa' .:.t ri.r.ned
•
4
by the Supreme Court of the State of Florida on October 11, 1972,
petitions for rehearing were denied by the Supreme Court of
Florida on October 31, 1972.
No bid for less than a31 of the bonds offered or at
a price of less than par plus accrued interest will Le entertained.
Bidders are requested to name
the interest rate or
rates,
not.
exceeding seven and one-half per c:nt ;7 -1/ 2%) per ann'i-n, t.n
multiples of 1/8 or 1/10 cf ' %, and eaci. :,idder must spc o� t
in his bid the amount ii d the -Iaturities of the bonds of
each rate. Bonds maturing on the same datt. ?-':::, t bear interest
at the same rate. No bond shall bear more than :.o rate of
interest which shall be uLiforrl fc.r the life of tb boncl, and
the interest pev.,- iblt? n }"3': i6 on any interest p.
shall be represented by a sin jle coupon. :dn intr:rest
may mr,re than
t
timt:;:s the i J:1'l',, 7 t rate named in the
1,1 b.lJ;-Ids offercx, .. _ Gl1'i i'.: .. _ d to the 1-) ddt r of r� .i i.
_urchaEa the :,c ..'$ t _.._ 1._.:cs:t net. int.''-et cis._
such Cost t:0 I E +:,c.i::?? :i:..il'IL. by de ' ;c ta ny the ; G _ l
.:cI:', pr''c'r:'.iu n bid f r c_
: c aggreg,_: t& art of i tires r
ail of the bond :; r, L�? ; ,; ii 1, 1973 until their resr.ective
maturities.
Each bid must be submitted on a 1'orI't tri be 'furnished
b't'
the undersigned Director of Finance, enclose .: in a :ealed
envelope marked "i31d for Bonus", and must be actor panieu by
a certified or bank cashier's or treasurer's check upon, an
incorporated Lank or trust company for $567,000 payable
unconditionally to the order of the City of Miami, on which ne
interest will be allowed. Award or rejection of bids will be m (fit
on the date above stated for the receipt of bids, and the checks
of unsuccessful bidders will be returned immediately. The ,_;:.:
of the successful bidder will Le held uncasiled as security
the performance of his bid, btuL in the event the successful
bidder shall fail _o ccr,ply with the terms of his . ;d ti;<.
5
•
may then be cashed and the proceeds thereof retained Gs and for
full liquidated damages.
The unqualified approving opinion of Bryant, Dickens,
Rumph, Franson and Miller, Tallahassee, Florida, as Bond
Counsel, will be furnished to the purchasers without cost.
A copy of such opinion, certified by the City Clerk by his
facsimile signature, will be printed on the reverse of each
bond. There will also be furnishes'. the usual closina papers
The bonds will be delivered on or about April 4, 1973 in
New York City against payment therefor by certified or
bank cashier's or treasurer's cheek drawn car , New York
City bank or trust company.
The right to reject any or all bids is res•2- ""eci .
CITY OF MIliM.i
Section e'1
set forth in
to be made -hat: .
Commission cf the
City of Miami, Florida
Sirs:
V. R. F A1LEY
..i.* ectcr of Finance
e in the i,'1 o/� l
l.'l-i^tom
which biCiL art-?
as i s ,. 1 c- s.
y'. :POT. BONDS
1 9 / 3
We make the following offer for the bonds of The Ciy
of Miami, Florid: , .lel'ntienee below, and described in the Notic
of Sale of said bonds, which Notice is hereby made a part cf tn: ,
bid, this offer :Je:Ails; ;_or air of said bonds and not for less than
all:
For $28, 50,O )() Pub?-L_c Par!: and Recreational Facilities
Bonds maturing and boring interest as follows:
6
Year of Principal ' Interest Year of Principal Interest
Maturity Amount Rate Maturity Amount Rate
1974 $1,165,000 % 1986 $1,185,000
1975 1,185,000 % 1987 1,185,000
1976 1,185,000 1988 1,185,000
1977 1,185,000 1989 1,185,000
1978 1,185,000 % 1990 1,185,000
1979 1,185,000 % 1991 1,185,000
1930 1,185,000 a 1992 1,135,000
1981 1,185,000 a 1993 1,185,000
1932 1,185,000 v 1994 1,135,000
1983 1,185,000 % 1995 1,185,000
1984 1,185,000 1996 1,185,000 7,
1985 1,185,000 % 1997 1,115,000 %
we will jay
Dollars ($ ) ►
being par for said Public Park and Recreational Facilities Bonds
plus a premium of $ for all of said bonds. We will
also pay accrued interest on the bonds from April 1, 1973 to the
date of their delivery.
►,e enclose herewith a certified or bank cashier's or
treasurer's check for $567,000 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 r.el:erreci to in the Notice of Sale
are to include a certificate, dated as of the day of the delivery
c,f the bonus, stating that there is no litigation pending or, to
the knowledge of the signer of such cc: tif:icate, threatened
affecting the validity of the bonds.
(No addition or alteration, except as provided
above, is to be made to this biu.;
The following is our computaticl:. , ht to be considered
as part of our bid, of the interest cost to the City under the
terms of our bid:
n.
O
Aggregate interest on bonds
computed from April 1, 1973 $
Less premium
Net interest cost
Average interest cost rate
(to four decimal places)
Section 5. The Director of Finance is hereby directed
to cause an Official Statement to be prepared, containing a cq y
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 fur::' =h copies of such
Official Statement to all interested bidders.
Section 6. There shall be printed on the reverse of
each of said bonds the legal opinion of Bryant, Dickens, Rurnph ,
Franson and Miller as Bond Counsel respecting the val
of said bonds and, immediately following such legal opinion,
a certificate signed with the facsimile signature of the
City Clerk substantially as follows:
"I HEREBY CE1<TIF J that the foregoing is a
true and col rest copy of the legal opinion
upon the bonds therein described which was
manually signed by Bryant, Dickens, Rumph,
Franson and Miller, Tallahassee, Florida,
and was dated as of the date of delivery of
and payment for said bonds.
(Facsimile Signature)"
City Clerk of The City of Miami, Florida."
Section 7. This resolution shall be in full force and
effect immediately upon its passage.
PASSED AND ADOPTED THIS 8th day of February, 1973.
APPROVED BY:
R. HARRIS TURNER, Asst. City Atty.
REVIEWED $Y:
•
OHN S. LLOYD, Asst. to irector
APPROVED AS TO FORM AND CORRECTNESS:
ALAN H. ROTHSTEIN
CITY ATTORNEY
EXCERPTS OF
MINUTES OF REGULAR MEETING
CITY COMMISSION OF MIAMI, FLORIDA
On the 8th day of February, 1973, the City Commission of
Miami, Florida, met at its regular meeting place at City Hall
in said City in regular session. The meeting was called to
order at 9:35 O'Clock A.M. by Mayor David T. Kennedy, with the
following members of the Commission present: Mr. Plummer, Mr.
Reboso, Reverend Gibson, Mrs. Gordon and Mayor Kennedy.
Absent: None
SALE OF 528,350,000 PUBLIC PARK AND RECREATIONAL FACILITIES BONDS
OF THE CITY OF MIAMI, FLORIDA; PROVIDING FOR SALE
The following resolution was introduced by Mr. Plummer
who moved its adoption:
,t._ •�'^fir
' ^ I
C ror,
:
-1-
RESOLUTION NO.
404
73-104
A RESOLUTION PROVIDING FOR THE SALE OF $28,350,000
PUBLIC PARK AND RECREATIONAL FACILITIES BONDS OF THE
CITY OF MIAMI, FLORIDA; SETTING FORTH THE METHOD OF
PAYMENT OF INTEREST; THE FORM OF NOTICE FOR BIDS FOR
SAID BONDS; DIRECTING PUBLICATION OF NOTICE OF SALE
OF SAID BONDS; PROVIDING FOR THE BIDS TO BE OPENED ON
MARCH 8, 1973; SETTING FORTH THE METHOD OF BIDDING,
AND SETTING FORTH THE FORM OF THE BIDS.
WHEREAS, the Commission of the City of Miami (hereinafter
sometimes called the "City Commission") on the 6th day of April,
1972 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. 72-15 providing for the issuance of $39,890,000
Public Park and Recreational Facilities Bonds, to consist
of 7,978 bonds of the denomination of $5,000 each, said
bonds to be issued at one time or from time to tim .13
to be dated and sold as hereafter provided by resolution
or resolutions of the City Commission, and to mature as
and
follows:
Years After
Date or Dates
Principal
Amount
Year After
Date or Dates
Principal
A:nnunt
2 $1,665,000 14 $1,665,000
3 1,665,000 15 1,665,000
4 1,665,000 16 1,665,000
5 1,665,000 17 1,665,000
6 1,665,000 18 1,665,000
7 1,665,000 19 1,665,000
8 1,665,000 20 1,665,000
9 1,665,000 21 1,665,000
10 1,665,000 22 1,665,000
11 1,665,000 23 1,665,000
12 1,665,000 24 1,665,000
13 1,665,000 25 1,595,000
•
WHEREAS, said Resolution provides that all or any part
of the bonds therein authorized may be made, redeemable prior
to their respective maturities, 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 the interest on the bonds shall be pay-
able at a bank or trust company in the Borough of Manhattan, �,
City and State of New York, or at a bank or trust company in the
City of Chicago, Illinois, or at a bank or trust company in the
City of Miami, Florida, at the option of the holder or registered
owner; and
WHEREAS, the City Commission has determined:
(a) that $28,350,000 in principal amount of said
authorized but unissued $39,890,000 Public Park and Recreational
Facilities Bonds shall consist of 5,670 bonds of the denomination
of $5,000 each and shall be issued and sold at this time, said
bonds to be dated, to be numbered and to mature as hereinafter
provided;
(b) that none of said bonds shall be redeemable prior
to their respective maturities;
(c) that the principal of and the interest on said bonds
shall be payable at the banks hereinafter designated; and
(d) that the sale of said bonds shall be held and notice
thereof given as hereinafter provided; now, therefore,
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. There shall be issued and sold at this time
said Public Park and Recreational Facilities Bonds in the aggregate
principal amount of Twenty -Eight Million Three Hundred Fifty
Thousand Dollars ($28,350,000). Said bonds shall be dated as of
the 1st day of October, 1972, shall consist of 5,670 bonds of the
denomination of $5,000 each, numbered 1 to 5,670, inclusive, shall
be coupon bonds registrable as to principal alone and also as to
both principal and interest, and shall mature, without option of
prior redemption, in numerical order, lowest numbers first, on the
1st day of October in the following years and in the following
amounts, respectively:
Year of
Maturity
Principal Year of Principal
Amount Maturity Amount
1974 $1,165,000 1986 $1,185,000
1975 1,185,000 1987 1,185,000
1976 1,185,000 1988 1,185,000
1977 1,185,000 1989 1,185,000
1978 1,185,000 1990 1,185,000
1979 1,185,000 1991 1,185,000
1980 1,185,000 1992 1,185,000
1981 1,185,000 1993 1,185,000
1982 1,185,000 1994 1,185,000
1983 1,185,000 1995 1,185,000
1984 1,185,000 1996 1,185,000
1985, 1,185,000 1997 1,115,000
Section 2. Interest on said Public Park and Recreational
Facilities Bonds shall be payable semi-annually on the 1st days
of April and October in each year, and both the principal of
and interest on said bonds shall be payable at The Chase Manhattan
Bank (National Association) in the Borough of Manhattan, City and
State of New York, or at Continental Illinois National Bank a;,d
Trust Company of Chicago, in the City of Chicago, Illinois, or
at The Florida National Bank and Trust Company at Miami, in
the City of Miami, Florida, at the option of the holder or
registered owner.
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, and
in The Daily Bond Buyer, a financial journal published in New
York City and devoted primarily to municipal bonds, each of such
publications to be made at least ten (10) days before the date for
the receipt of bids, which notice shall be substantially in the
following form;
NOTICE OF SALE
$28,350,000 BONDS
OF
THE CITY OF MIAMI, FLORIDA
$28,350,000 PUBLIC PARK AND RECREATIONAL FACILITIES BONDS
-4-
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, Florida, until 11 o'clock A.M.,
Eastern Standard Time, on
March 8, 1973
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, 1972:
$28,350,000 PUBLIC PARK AND RECREATIONAL
FACILITIES BONDS, maturing annually, October 1,
without option of prior redemption, as follows:
Year of Principal Year of Principal
Maturity Amount Maturity Amount
1974 $1,165,000 1986 $1,1i15 , 01)v
1975 1,185,000 1987 1,165,0fA
1976 1,185,000 1988 1,105,:2r0
1977 1,185,000 1989 1,185,0L
1978 1,185,000 1990 1,185 ,000
1979 1,185, 0.00 1991 1,185, 000
1980 1,185,000 1992 1,185,000
1981 1,165,000 1993 1,185,000
1982 1,185,000 1994 1,185,000
1983 1,185,000 1995 1,185,000
1984 1,185,000 1996 1,185,00G
1985 1,185,000 1997 1,115,000
Denomination $5,000; coupon bonds registrable as to
principal alone and also a:; to both principal and interest;
principal and semi-annual interest (April 1 and October 1)
payable at The Chase Manhattan Bank (National Association),
in the Borough of Manhattan, City and State of New York, or at
Continental Illinois National Bank and Trust Company of
Chicago, in the City of Chicago, Illinois, or at The Florida
National Bank and Trust Company at Miami, in the City of Miami,
Florida, at the option of the holder or registered owner; general
obligation; unlimited tax upon all taxable property within the
City of Miami (excluding homesteads).
The bonds were validated by judgment of the Circuit Court
of Dade County, Florida, on May 23, 1972, such judgment was affirmed
by the Supreme Court of the State of Florida on October 11, 1972,
petitions for rehearing were denied by the Supreme Court of
Florida on October 31, 1972.
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 or rates, not
exceeding seven and one-half per cent (7-1/2%) per annum, in
multiples of 1/8 or 1/10 of 1%, and each bidder must specify
in his bid the amount and the maturities of the bonds of
each rate. Bonds maturing on the same date must bear interest
at the same rate. No bond shall bear more than one rate of
interest which shall be uniform for the life of the bond, and
the interest payable on any bond on any interest payment date
shall be represented by a single coupon. No interest rite bid
may be more than two times the lowest rate named in the bid.
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 the aggregate amount of interest upon
all of the bonds from April 1, 1973 until their respective
maturities.
Each bid must be submitted on a form to be furni=•hed 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 $567,000 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 be returned immediately. The chick
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
full liquidated damages.
The unqualified approving opinion of Bryant, Dickens,
Rumph, Franson and Miller, Tallahassee, Florida, as Bond
Counsel, will be furnished to the purchasers without cost.
A copy of such opinion, certified by the City Clerk by his
facsimile signature, will be printed on the reverse of each
bond. There will also be furnished the usual closing papers.
The bonds will be delivered on or about April 4, 1973 in
New York City against payment therefor by a certified or
bank cashier's or treasurer's check drawn on a New York
City 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 on which all bids are required
to be made shall be substantially as follows:
BID FOR BONDS
Commission of the
City of Miami, Florida
Sirs:
, 1973
We make the following offer for the bonds of The City
of Miami, Florida, mentioned below and described in the Notice
of Sale of said bonds, which Notice is hereby made a part of this
bid, this offer being for all of said bonds and not for less than
all:
For $28,350,000 Public Park and Recreational Facilities
Bonds maturing and bearing interest as follows:
Year of Principal Interest Year of Principal Interest
Maturity Amount •• Rate Maturity Amount Rate
1974 $1,165,000 % 1986 $1,185,000 %
1975 1,185,000 $ 1987 1,185,000
1976 1,185,000 % 1988 1,185,000 %
1977 1,185,000 b 1989 1,185,000 %
1978 1,185,000 % 1990 1,185,000 %
1979 1,185,000 % 1991 1,185,000 %
1980 1,185,0100 a 1992 1,185,000 %
1981 1,185,000 % 1993 1,185,000 %
1982 1,185,000 % 1994 1,185,000 %
1983 1,185,000 % 1995 1,185,000 %
1984 1,185,000 % 1996 1,185,000 %
1985 1,185,000 % 1997 1,115,000 _ %
we will pay Dollars ($ ),
being par for said Public Park and Recreational Facilities Bonds
plus a premium of $ for all of said bonds. We will
also pay accrued interest on the bonds from April 1, 1973 to the
date of their delivery.
We enclose herewith a certified or bank cashier's or
treasurer's check for $567,000 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 day 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 bid:
-8-
•
Aggregate interest on bonds
computed from April 1,11973
•
Less premium
Net interest Bost
•
Average interest cost rate
(to four decimal 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. There shall be printed on the reverse of
each of said bonds the legal opinion of Bryant, Dickens, Rumph,
Franson and Miller as Bond Counsel respecting the val'dity
of said bonds and, immediately following such legal opinion,
a certificate signed with the facsimile signature of the
City Clerk substantially as follows:
"I HEREBY CERTIFY that the foregoing is a
true and correct copy of the legal opinion
upon the bonds therein described which was
manually signed by Bryant, Dickens, Rumph,
Franson and Miller, Tallahassee, Florida,
and was dated as of the date of delivery of
and payment for said bonds.
(Facsimile Signature)"
City Clerk of The City of Miami, Florida."
Section 7. This resolution shall be in full force and
effect immediately upon its passage.
PASSED AND ADOPTED THIS 8th day of February, 1973.
Upon being seconded by Mrs. Gordon, the resolution was
passed and adopted by the following vote = AYES: Mr. Plummer,
Mr. Reboso, Reverend Gibson, Mrs. Gordon and Mayor Kennedy.
NOES: None.
*
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ADJOURNMENT:
There being no further business to come before the Commission
at this time, on motion duly made and seconded, the meeting was
adjourned at 3:50 O'Clock P.M.
DAVID T. KENNEDY
MAYOR
ATTEST: H. D. SOUTHERN
CITY CLERK
STATE OF FLORIDA
COUNTY OF DADE
CITY OF MIAMI
I, H. D. SOUTHERN, Clerk of the City of Miami, Florida,
DO HEREBY CERTIFY that the above and foregoing pages numbered 1
to 9 inclusive contain true and correct excerpts of the minutes
of a regular meeting of the City Commission of Miami, Florida,
at a meeting held on the 22nd day of November, 1972, in the
adoption of Resolution No. 73-104 pertaining to $28,350,000
Public Park and Recreational Facilities Bonds of the City of Miami.
WITNESS MY HAND and the official seal of the City of Miami,
Florida, this 9th day of February, 1973
H.J D. SO i 'HERN
CITY CLERK
CITY OF MIAMI, FLORIDA
3.?
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