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HomeMy WebLinkAboutO-08148ORDINANCE NO. ____8_148.__ AN ORDINANCE AUTHORIZING THE CONTRACTING OF A LOAN FOR PAYING A PART OF THE COST OF OFFiSTREET PARKING FACILITIES WITHIN THE CORPORATE LIMITS OF THE CITY OF MIAMI AND PLEDG- I NG FUNDS FOR TIE PAYMENT OF SUCH LOAN AND DECLARING THIS ORDINANCE TO BE AS EMERGENCY MEASURE WHEREAS, the greatly increased use by the public of motor vehicles of all kinds has caused serious traffic congestion in the City of Miami (hereinafter sometimes called the "City"); such traffic conges- tion impedes the free circulation of traffic in, through and from the City, and the rapid and effective fighting of fires and disposition of police forces, and endangers the health, safety and general welfare of the public; such congestion will be greatly relieved by making provision for additional off-street parking facilities;' and the providing of such off- street parking facilities by the City is necessary for the protection and preservation of the peace, health, safety and property of the City and its inhabitants; and WHEREAS, the City is authorized and empowered to construct, reconstruct, equip, improve, extend, enlarge, maintain, repair and operate parking facilities within the corporate limits of the City; and WHEREAS, the Off -Street Parking Board of the City of Miami created by Section 23-A of the City Charter (hereinafter sometimes called the "Board") has caused Ramp Consulting Services, Inc., of Manhasset, L.I., New York (herein called the "Parking Consultants") to make surveys and to report to the Board the location within the City where additional off-street parking facilities are urgently needed at the present time and to provide a brief description of the off-street parking facilities to be constructed thereon, their recommendations as to the fees to be charged and their estimates of cost and of revenues based on the charges recommended by them and tho Parking Consultants have submitted to the City a report recommending the immediate construction of the following off-street parking facilities in the City of Miami (hereinafter sometimes collectively called the "Additional Facilities"): -1- Construction of a twojunit multilevel parking structure to contain approximately 690 spaces and a parking lot to contain approximately 120 Spaces on the block bounded by NE 2nd Avenue oh the east, NE 3rd Street on the north, NE 2nd Street oa the south and NE 1st Avenue on the west; and WHEREAS, the Board in accordance with the recommendations of the Parking Consultants proposes to construct the Additional Facilities on the site described above and operate the same as a part of the Off -Street Parking Facilities (as defined in Ordinance No.7414, adopted by the City Commission on March 14, 1966, as amended; and WHEREAS, the Additional Facilities will provide approximately 810 additional off-street parking spaces; and WHEREAS, the total cost of the Additional Facilities will be approximately $4,100,000 and all but $1,000,000 of this amount will be made available from the proceeds of Parking Facilities Revenue Bonds (Series C) of the City issued pursuant to Ordinance No.8123 adopted by the City Com- mission on November 22, 1972 and other existing funds; and WHEREAS, the City Commission is authorized and empowered by Section 169.01, Florida Statutes, to contract loans for the use of the City and to pledge funds for the payment of such loans; now, therefore, BE IT ORDAINED by the Commission of the City of Miami: Section 1. For the purpose of providing funds for paying a part of the cost of the Additional Facilities, a loan in the aggregate principal amount of not exceeding One Million Dollars ($1,000,000) is hereby authorized, and to evidence such loan there shall from time to time be issued under and secured by this ordinance a note or notes of the City. Each of said notes shall be dated as of the date of its delivery and shall bear interest from such date at the rate of five per centum (5%) per annum payable, in the case of the note first issued hereunder on that certain date which is three months from the date of its delivery and quarterly thereafter, and, in the case of all later notes Issued hereunder, on the same interest payment dates as said initial note ninety (90) days after said date of delivery and quarterly until the note shall have been paid. The principal of each note shall be payable three years from the date of delivery of the first note issued hereunder. The notes shall be subject to prior payment in whole or In part as provided in the form for said notes hereinafter set forth. Section 2. The notes issued under this ordinance shall not be deemed to constitute a debt of the City or a pledge of the faith and credit of the City, but shall be payable :solely from the special fund created therefore as hereafter des:gibed. The principal and the interest on the notes issued under this ordinance are payable from moneys deposited to the credit of the special fund created by Ordinance No.7414, which was adopted by the City Commission on March 14, 1966, as amended by Ordinance No.7452, adopted on July 14, 1966 and Ordinance No.7517, adopted on February 8, 1967 and designated "Miami Parking Facilities General Reserve Fund" (therein and herein called the "General Reserve Fund"), which moneys are pledged to and charged with the payment of such principal and interest, such pledge being subject to all of the provisions of said Ordinance No.7414 as amended. Section 3. Said notes shall bear the facsimile signature of the Mayor of the City and shall be signed by the City Clerk, and the corporate seal of the City shell be impressed thereon. Said notes and the endorsements thereon shallbe in substantially the following forms: $1,000,000 UNITED STATES OF AMERICA STATE OF FLORIDA COUNTY OF DADE THE CITY OF MIAMI The City of Miami (herein called the "City"), a municipal corporation In the County of Dade, State of Florida, for value received, hereby promises to pay, solely from the special fund provided therefor as hereinafter set forth, to or order, on , 197, upon the presentation and surrender hereof at The First National Bank of Miami, in the City of Miami, Florida, the principal sum of DOLLARS -3- in any coin or currency of the United States of America which on the dates of payment thereof is legal tender for the payment of public and private debts, and to pay, solely from sale special fund, to the owner hereof by check or draft mailed to the owner'interest from the date hereof on said principal sum or the unpaid balance thereof at the rate of five per centum (5%) per annum until payment of such principal sum, such interest being payable on 197_ and quarterly thereafter until this note shall have been paid. This note shalt not be deemed to constitute a debt of the City or a pledge of the faith and credit of the City, but shall be payable solely from the special fund provided therefor. The City is not obligated to pay this note or the interest hereon except from such special fund, and the faith and credit of the City are not pledged to the payment of such principal or interest. The issuance of this note shall not directly or indirectly or contingently obligate the City to levy or to pledge any taxes whatever therefor or to make any appropriation for the payment of this rate or the interest hereon except from such special fund. The principal of and the interest on this note are payable from moneys deposited to the credit of the special fund created by Ordinance No.7414, which was adopted by the City Commission on March 14, 1966, as amended by Ordinance,No.7452, adopted on July 14, 1966 and Ordinance No.7517, adopted on February 8, 1967, and designated "Miami Parking Facilities General Reserve Fund" (therein and herein called the "Genera) Reserve Fund"),whlch moneys are pledged to and charged with the payment of such principal and interest, such pledge being subject to all of the provisions of said Ordinance No.7414, as amended. This note is issued under and pursuant to the laws of the State of Florida, including Section 169, 01, Florida Statutes, and an ordinance duly adopted by the City Commission on 1973, reference to which and to said Ordinance No.7414, es amended, is hereby made for the rights of the owner of this note. The City reserves the right to pay and redeem the principal of this note or the unpaid balance thereof at any time from any moneys that may be available for such purpose, or any part of such principal from moneys in the -4- General Reserve Fund, on any Interest payment date without the payment of any redemption premium; provided,i, however, that the principal amount so paid and redeemed at any time shall be a multiple of ten Thousand Dollars ($10,000), and that there shall also be paid the Interest accrued on such amount from the date of this note or the date of the last interest payment, whichever shall be the later, to the date of such payment. Until the principal of and the interest on this note shall be paid in full or provision made for such payment, all deposits to the credit of the General Reserve Fund shall be made with The First National Bank of Miami, as Trustee under said Ordinance No.7414, as amended, and the Treasurer of the Department of Off•Street Parking of the City shall,`from time to time as moneys are so deposited, give notice to the owner of this note to present the same to the Trustee for payment and cancellation or, in the case of any payment of part of the principal, for the endorsement thereon of the amount so paid. This note is not transferable or assignable except on the books of The First National Bank of Miami. A11 acts, conditions and things required by the Constitution and laws of the State of Florida and the ordinances and resolutions of the City to happen, exist and be performed precedent to and in the Issuance of this note have happened, exist and have bean performed as so required. IN WITNESS WHEREOF, the City of Miami has caused this note to bear the facsimile signature of its Mayor and to be signed by its City Clerk and its corporate seal and to be impressed hereon, all as of the day of , 1971. (SEAL) (Eecsimlie.slgoature) Mayor •Sw City Clerk The following sums have been paid on the principal of this note together with the interest accrued on each such sum until the date of such paymentt Amount Date of Signature _Paid Payment of Trustee Section 4. The proceeds of said note, together with other moneys available for such purpose, shall be deposited with said The First National Bank of Miami to the credit of the Parking Facilities (Series C) Construction Fund created by said Ordinance No.8123 and applied by the Board to the payment of the cost of the Additional Facilities in accordance with the provisions of Section 406 of said Ordinance No.7414, as amended, In so far as such provisions may be applicable. Section 5. The initial schedule of rates and charges for the use of, and for the services and facilities furnished or to be furnished by, the Additional Facilities shall be as described in said Ordinance No.8123. Section 6. Until the principal of and the interest on the note authorized hereby shall be paid in full or provision made for such payment the amount to be deposited in any fiscal year under clause (d) of Section 509 of Ordinance No.7414, as amended, to the credit of the Miami Parking Facilities Expansion Fund shall not exceed $600,000. Section 7. A copy of this Ordinance shall be posted by the City Clerk at the door of the Dade County Courthouse at the place provided for notices within five (5) days after the passage and adoption hereof. Section 8. For the reasons set forth in the preambles, this Ordinance is hereby declared to be an emergency measure on the ground of urgent public need for the preservation of peace, health, safety or property by a four..fifths (4/5) vote of the members of the Commission. _6. PASSED on first reading by title only this 22nd day of February,1973. PASSED AND ADOPTED on second and final reading by title only this 8th day of March,1973. DAVID T KENNEDY MAYOR H D SOUTHERN CITY CLERK If. D. SCUTT-TT:77J, 'Clerk th hereby cer tb,7 •-r of . A. D. -10 • : et C0r'r Of V:10 tro ; tc(i. S cuth .•2 "" '.-!• t •71:' 1.'" 77.1-:'0 .7 7. 1:7': El aid t1-1) 72 or. ' of c,cild City tlaisi iday c;-.• , D —7.. CityClerk NMIAM1 REVIEW AND DAILY PItcoRD Published Daily except Saturday, Sunday and Legal Holidays Miami, Dada County, Florida. SLATE OF FLORIDA COUNTY OF DADE: Before the undersigned authority personally ep• CPA' MHhe Mronbagr wton MoaltehmisaRsevew she and Daily Record, a daily (except Saturday, Sunday and Legal Holidays) newspaper published at Miami in Dade County Florida; that the attached copy of adver- tisement, being a Legal Advertisement or Notice in the matter °{Adoption of Ordinance Noe 8148 Re= Contracting of a loan for paying a part of the Cost of Off -Street parkins; Facilities within the Corporate Limits of The City of tfiaTii, .et.c. in the .XXX Court, was published In said newspaper in the Issues of Affiant 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 news- 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 affient further says that she has neither paid nor promised any person. firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper. Sworn to and subscribed before me this 13t.11... day of March .. A. D. •19....�,... Janet Leo. Notary Public, State of Florida at Large. (SEAL) My Commission expires April 15. 1973. CiTt f1F ctnA:t , nAnt cdt YTT, FLORIDA LEGAL 'mttCE• :41I interested will take notice that on the 8th day of March, 1973 the Commis?Inn of the City of Miami, Florida adopted tin ordinance entstted AN ORDINANCE AUTHORIZ ING THE CONTRACTING OF I A LOAN FOR PAYING A PART OF THE COST OF OFF-STREET PARKING FA- CILITIES WITHIN THE CORPORATE LIMITS OF THE CITY OF MIAMI AND PLEDGING: FUNDS FOR THE PAYMENT OF SUCH LOAN; AND DECLARING THIS ORDINANCE TO BE AN EMERGENCY MEASURE which is designated Ordinance No. 8148. H D SOUTHERN CITY CLERK CITY OF MIAMI, FLORIDA Publication of this notice on the 13th day of March, 1973. Ad No. 30447 r AP92) ORDINANCE NO. _/4 AN ORDINANCE AUTHORIZING THE CONTRACTING OF A LOAN FOR PAYING A PART OF THE COST OF OFF&STREET PARKING FACILITIES WITHIN THE CORPORATE LIMITAS OF THE CITY OF MMIPND PLEDG' ING 4NDS FOR HE P ME <7OF SUCH LOAN; - - e ec(a f"-<e WHEREAS, the greatly increased use by the public of motor vehicles of all kinds has caused serious traffic congestion in the City of Miami (hereinafter sometimes called the "City"); such traffic conges- tion impedes the free circulation of traffic in, through and from the City, and the rapid and effective fighting of fires and disposition of police forces, and endangers the health, safety and general welfare of the public; such congestion will be greatly relieved by making provision for additional off-street parking facilities; and the providing of such off- street parking facilities by the City is necessary for the protection and preservation of the peace, health, safety and property of the City and its inhabitants; and WHEREAS, the City is authorized and empowered to construct, reconstruct, equip, improve, extend, enlarge, maintain, repair and operate parking facilities within the corporate limits of the City; and WHEREAS, the Off -Street Parking Board of the City of Miami created by Section 23-A of the City Charter (hereinafter sometimes called the "Board") has caused Ramp Consulting Services, Inc., of Manhasset, L.I., New York (herein called the "Parking Consultants") to make surveys and to report to the Board the location within the City where additional off-street parking facilities are urgently needed at the present time and to provide a brief description of the off-street parking facilities to be constructed thereon, their recommendations as to the fees to be charged and their estimates of cost and of revenues based on the charges recommended by them and the Parking Consultants have submitted to the City a report recommending the immediate construction of the following off-street parking facilities in the City of Miami (hereinafter sometimes collectively called the "Additional Facilities"): CITY COMM± T }� r' FEB 2 21973 Construction of a twounit multi level parking structure to contain approximately 690 spaces and a parking lot to contain approximately 120 spaces on the block bounded by NE 2nd Avenue on the east, NE 3rd Street on the north, NE 2nd Street on the south and NE 1st Avenue on the west; and WHEREAS, the Board in accordance with the recommendations of the Parking Consultants proposes to construct the Additional Facilities on the site described above and operate the same as a part of the Off -Street Parking Facilities (as defined in Ordinance No.7414, adopted by the City Commission on March 14, 1966, as amended; and WHEREAS, the Additional Facilities will provide approximately 810 additional off-street parking spaces; and WHEREAS, the total cost of the Additional Facilities will be approximately $4,100,000 and all but $1,000,000 of this amount will be made available from the proceeds of Parking Facilities Revenue Bonds (Series C) of the City issued pursuant to Ordinance No.8123 adopted by the City Com- mission on November 22, 1972 and other existing funds; and WHEREAS, the City Commission is authorized and empowered by Section 169.01, Florida Statutes, to contract loans for the use of the City and to pledge funds for the payment of such loans; now, therefore, BE IT ORDAINED by the Commission of the City of Miami: Section 1. For the purpose of providing funds for paying a part of the cost of the Additional Facilities, a loan in the aggregate principal amount of not exceeding One Million Dollars ($1,000,000) is hereby authorized, and to evidence such loan there shall from time to time be issued under and secured by this ordinance a note or notes of the City. Each of said notes shall be dated as of the date of its delivery and shall bear interest from such date at the rate of five per centum (5%) per annum payable, in the case of the note first issued hereunder on that certain date which is three months from the date of its delivery and quarterly thereafter, and, in the case of all later notes issued hereunder, on the same interest payment dates as said initial note ninety (90) days after said date of delivery and quarterly until the note shall have been paid. The principal of each note shall be payable three years from the date of delivery of the first note issued hereunder. -2- r The notes shall be subject to prior payment in whole or in part as provided in the form for said notes hereinafter set forth. Section 2. The notes issued under this ordinance shall not be deemed to constitute a debt of the City or a pledge of the faith and credit of the City, but shall be payable solely from the special fund created therefore ordinance as hereafter described. The principal and the interest on the notes issued under this are payable from moneys deposited to the credit of the special fund created by Ordinance No.7414, which was adopted by the City Commission on March 14, 1966, as amended by Ordinance No.7452, adopted on July 14, 1966 and Ordinance No.7517, adopted on February 8, 1967 and designated "Miami Parking Facilities General Reserve Fund" (therein and herein called the "General Reserve Fund"), which moneys are pledged to and charged with the payment of such principal and interest, such pledge being subject to all of the provisions of said Ordinance No.7414 as amended. Section 3. Said notes shall bear the facsimile signature of the Mayor of the City and shall be signed by the City Clerk, and the corporate seal of the City shall be impressed thereon. Said notes and the endorsements thereon shalibe in substantially the following forms: $1,000,000 UNITED STATES OF PMERICA STATE OF FLORIDA COUNTY OF DADE THE CITY OF MIAMI The City of Miami (herein called the "City"), a municipal corporation in the County of Dade, State of Florida, for value received, hereby promises to pay, solely from the special furd provided therefor as hereinafter set forth, to or order, on , 197, upon the presentation and surrender hereof at The First National Bank of Miami, in the City of Miami, Florida, the principal sum of .3. DOLLARS in any coin or currency of the United States of America which on the dates of payment thereof is legal tender for the payment of public and private debts, and to pay, solely from said special fund, to the owner hereof by check or draft mailed to the owner interest from the date hereof on said principal sum or the unpaid balance thereof at the rate of five per centum (5%) per annum until payment of such principal sum, such interest being payable on , 197 and quarterly thereafter until this note shall have been paid. This note shall not be deemed to constitute a debt of the City or a pledge of the faith and credit of the City, but shall be payable solely from the special fund provided therefor. The City is not obligated to pay this note or the interest hereon except from such special fund, and the faith and credit of the City are not pledged to the payment of such principal or interest. The issuance of this note shall not directly or indirectly or contingently obligate the City to levy or to pledge any taxes whatever therefor or to make any appropriation for the payment of this note or the interest hereon except from such special fund. The principal of and the interest on this note are payable from moneys deposited to the credit of the special fund created by Ordinance No.7414, which was adopted by the City Commission on March 14, 1966, as amended by Ordinance No.7452, adopted on July 14, 1966 and Ordinance No.7517, adopted on February 8, 1967, and designated "Miami Parking Facilities General Reserve Fund" (therein and herein called the "General Reserve Fund"),which moneys are pledged to and charged with the payment of such principal and interest, such pledge being subject to all of the provisions of said Ordinance No.7414, as amended. This note is issued under and pursuant to the laws of the State of Florida, including Section 169, 01, Florida Statutes, and an ordinance duly adopted by the City Commission on ,1973, reference to which and to said Ordinance No.7414, as amended, is hereby made for the rights of the owner of this note. The City reserves the right to pay and redeem the principal of this note or the unpaid balance thereof at any time from any moneys that may be available for such purpose, or any part of such principal from moneys in the -4- General Reserve Fund, on any interest payment date without the payment of any redemption premium; provided, however, that the principal amount so paid and redeemed at any time shall be a multiple of Ten Thousand Dollars ($10,000), and that there shall also be paid the interest accrued on such amount from the date of this note or the date of the last interest payment, whichever shall be the later, to the date of such payment. Until the principal of and the interest on this note shall be paid in full or provision made for such payment, all deposits to the credit of the General Reserve Fund shall be made with The First National Bank of Miami, as Trustee under said Ordinance No.7414, as amended, and the Treasurer of the Department of Off -Street Parking of the City shall, from time to time as moneys are so deposited, give notice to the owner of this note to present the same to the Trustee for payment and cancellation or, in the case of any payment of part of the principal, for the endorsement thereon of the amount so paid. This note is not transferable or assignable except on the books of The First National Bank of Miami. All acts, conditions and things required by the Constitution and laws of the State of Florida and the ordinances and resolutions of the City to happen, exist and be performed precedent to and in the issuance of this note have happened, exist and have been performed as so required. IN WITNESS WHEREOF, the City of Miami has caused this note to bear the facsimile signature of its Mayor and to be signed by its City Clerk and its corporate seal and to be impressed hereon, all as of the day of , 1973. (SEAL) (Eacsimile.sigaature) Mayor -5- City Clerk The following sums have been paid on the principal of this note together with the interest accrued on each such sum until the date of such payment: Amount Date of Signature Paid payment of Trustee Section 4. The proceeds of said note, together with other moneys available for such purpose, shall be deposited with said The First National Bank of Miami to the credit of the Parking Facilities (Series C) Construction Fund created by said Ordinance No.8123 and applied by the Board to the payment of the cost of the Additional Facilities in accordance with the provisions of Section 406 of said Ordinance No.7414, as amended, in so far as such provisions may be applicable. Section 5. The initial schedule of rates and charges for the use of, and for the services and facilities furnished or to be furnished by, the Additional Facilities shall be as described in said Ordinance No.8123. Section 6. Until the principal of and the interest on the note authorized hereby shall be paid in full or provision made for such payment the amount to be deposited in any fiscal year under clause (d) of Section 509 of Ordinance No.7414, as amended, to the credit of the Miami Parking Facilities Expansion Fund shall not exceed $600,000. Section 7. A copy of this Ordinance shall be posted by the City Clerk at the door of the Dade County Courthouse at the place provided for notices within five (5) days after the passage and adoption hereof. Section 8. For the reasons set forth in the preambles, this Ordinance is hereby declared to be an emergency measure on the ground of urgent public need for the preservation of peace, health, safety or property by a four -fifths (4/5) vote of the members of the Commission. ,- apai e7 C 1, - c'c, j-1 /ZIIC f'" Z . "1 i e- 4:I t �x 7 - 6- PASSED AND ADOPTED on this 7'a-xc Li day of -ftbindt ry, 1973. Mayor Attest: City Clerk PREPARED AND APPROVED BY 4Jon S. Lloyd ' `-' sistant Director of Law C APPROVED AS TO FORM AND CORRECTNESS Alan H. Rothstein City Attorney -7- N'o . 1 $1,000,000 UNITED STATES OF AME)tIO } STATE OF FLORIDA COUNTY OF DADE THE CITY OF MIAMI The City of Miami (herein called the "City"), a municipal corporation in the County of Dade, State of Florida, for value re- ceived, hereby promises to pay, solely from the special fund pro- vided therefor as hereinafter set forth, to The First National Bank of Miami or order, on June 11 , 1976, upon the presentation and sur- render hereof at The First National Bank of Miami, in the City of Miami, Florida, the principal sum of LP aeacicarzocT§ in any coin or currency of the United States of America which on the date of payment thereof is legal tender for the payment of public and private debts, and to pay, solely from said special fund, to the owner hereof by check or draft mailed to the owner interest from the date hereof on said principal sum or the unpaid balance thereof at the rate of five per centum (5%) per annum until payment of such principal sum, such interest being payable on Sept.11, 1973 and quar- terly thereafter until this note shall have been paid. This note shall not be deemed to constitute a debt of the City or a pledge of the faith and credit of the City, but shall be payable solely from the special fund provided therefor. The City is not obligated to pay this note or the interest hereon except from such special fund, and the faith and credit of the City are not pledged to the payment of such principal or interest. The issuance of this note shall not directly or indirectly or contingently obli- gate the City to levy or to pledge any taxes whatever therefor or to make any appropriation for the payment of this note or the interest hereon except from such special fund. The principal of and the interest on this note are payable from moneys deposited to the credit of the special fund created by 'Ordinance No. 7414, which was adopted by the City Commission on March 14, 1966, as amended by Ordinance No. 7452, adopted on July 14, 1966 and Ordinance No. 7517, adopted on February 8, 1967, and designated "Miami Parking Facilities General Reserve Fund" (there- in and herein called the "General Reserve Fund"), which moneys are pledged to and charged with the payment of such principal and inter- est, such pledge being subject to all of the provisions of said Ordinance No. 7414, as amended, and from such other non -ad valorem tax moneys as the City may make available therefor. This note is issued under and pursuant to the laws of the State of Florida, including Section 169.01, Florida Statutes, and an ordinance duly adopted by the City Commission on March 8, 1973, reference to which and to said Ordinance No. 7414, as amended, is hereby made for the rights of the owner of this note. The City reserves the right to pay and redeem the prin- cipal of this note or the unpaid balance thereof at any time from any moneys that may be available for such purpose, or any part of such principal from moneys in the General Reserve Fund, on any interest payment date without the payment of any redemption pre- mium; provided, however, that the principal amount so paid and redeemed at any time shall be a multiple of Ten Thousand Dollars ($10,000), and that there shall also be paid the interest accrued on such amount from the date of this note or the date of the last interest payment, whichever shall be the later, to the date of such payment. Until the principal of and the interest on this note shall be paid in full or provision made for such payment, all deposits to the credit of the General Reserve Fund shall be made with The First National Bank of Miami, as Trustee under said Ordinance No. 7414, as amended, and the Treasurer of the Depart- ment of Off -Street Parking of the City shall, from time to time as moneys are so deposited, give notice to the owner of this note to present the same to the Trustee for payment and cancellation or, in the case of any payment of part of the principal, for the endorsement thereon of the amount so paid. This note is not transferable or assignable except on the books of The First Nat' nal Bank of Miami. All acts, conditions and things required by the Constitu- tion and laws of the State of Florida and the ordinances and reso- lutions of the City to happen, exist and be performed precedent to and in the issuance of this note have happened, exist and have been performed as so required. IN WITNESS WHEREOF, The City of Miami has caused this note to bear the facsimile signature of its Mayor and to be signed by its City Clerk and its corporate seal to be impressed hereon, all as of the l l th day of June 1973. Mayor (Seal) The following sums have been paid on the principal of this note together with the interest accrued on each such sum until the date of such payment: Amount Paid Date of Payment Signature of Trustee LAW omit Es or RODIE 1.. MITCHELL 1021-10SS' C. RUSSELL SHETTERLY ROE)ERT L 1t1TC1IELL RICHARD S. r`E1TY JOSE0P4 GUAHDOLO GEORGE E?.HOYLE HOWARD W. WHITAKER,JR. P 1111.1 r' W CLARK MITCHELL, PETTY a SHETTERLY 39.•1 FLOOR 30 BROAD STREET NEW YORK, N. Y. 10004 I MASSLICH AND MITCHELL) )MITCHELL AND PERSHINGI IMITCHELL,PERSHING,SMETTERLY b MITCHELL) TEL.(212) 944•7226 PETER J. MICHEL A. FRANCIS ROBINSON, JP. June 11, 1973 Commission of the City of Miami,; Florida Gentlemen: We have examined certified copies of the proceedings of the Commission of the City of Miami, Florida, including Ordinance No. 8148 adopted on March 8, 1973, and other proofs submitted relative to the issuance and sale of a $1,000,000 Note of The City of Miami, Florida, dated June 11, 1973, bearing interest at the rate of 5% per annum, maturing, subject to the right of prior re- demption, on June 11, 1976 and having such other details and being secured all as provided in said Ordinance No. 8148. From such examination we are of the opinion that: 1. Said $1,000,000 Note upon its execution in the form set forth in said Ordinance No. 8148 and upon proper delivery of and payment therefor will be a valid and binding spe- cial obligation of The City of Miami, Florida, payable solely from moneys deposited to the credit of the special fund created by Ordinance No. 7414, adopted by the City Commission on March 14, 1966, as amended, and designated "Miami Parking Facilities General Reserve Fund", which moneys are pledged to and charged with payment of the principal of and the interest on said Note, such pledge being subject to all of the provisions of said Ordinance No. 7414, as amended. 2. Said $1,000,000 Note is also payable from any other moneys that The City of Miami may make available for such purpose. 3. The City of Miami is not obligated to pay the Note or the interest thereon except from said Miami Parking Facilities General Reserve Fund, and neither the faith and credit nor the ad valorem taxing power of the City is pledged to the payment of such principal or interest. 4. The interest on said $1,000,000 Note is exempt from all present Federal income taxes. Very truly yours, hts,e7a.tiffe* c>9 42-6:1( V STATE OF FLORIDA COUNTY OF DADE OFFICERS AND._ SEAL CERTIFICATE ss. ) I, Ralph G. Ongie, Assistant City Clerk of The City of Miami, Florida, DO HEREBY CERTIFY: 1. The following is a correct list of the names of certain officers of The City of Miami, Florida, and of the dates of commencement and expiration of their respective terms of of- fice: OFFICE Mayor Mayor Commissioner Commissioner Commissioner Commissioner Director of Finance City Attorney OFFICER David T. Kennedy Maurice f+erre Rev. Theodore R.Gibson Rose Gordon Manolo Reboso J.L. Plummer, Jr. W.R. Bailey Alan H. Rothstein City Clerk H.D. Southern Assistant City Clerk Ralph G. Ongie 2. The official seal of said COMMENCEMENT EXPIRATION Or TERM OF TERM Nov.25,1971 April 19, 1973 Apr.20,1972 Nov.24,1971 July 6,1972 Nov.25,1971 Nov.15, 1973 Nov.15,1973 Nov.13,1975 Nov.15,1973 Nov.13,1975 Jan. 2,1960 At will of City Manager Nov.25,1971 Nov.15,1973 Nov.25,1971 Nov.15,1973 June 1,1972 Indeterminate The City of Miami, being the only seal used by said City in the execution of bonds and con- tracts, is the seal an impression of which is affixed opposite my signature on this certificate. 3. Regular meetings of the Commission of the City of Miami are held on the second and fourth Thursdays of each month at 9:00 o'clock A.M. WITNESS my hand and the official seal of said The City of Miami referred to above, this llth day of June, 1973. ,cyre2, Assistant City Clerk *Suspended from office by action of the Governor. (3) SIGNATURE AND NO -LITIGATION CERTIFICATE I, H. D. Southern, City Clerk of The City of Miami, Florida, DO IHEREBY CERTIFY that I did on the _ /' day of March, 1973, offi- cially sign a One Million Dollar ($1,000,004) Note of The City of Miami, Florida, dated June 11 , 1973, bearing interest at the rate of five per centum (5%) per annum, payable quarterly, and maturing on June 11 , 1976, subject to prior payment in whole or in part as provided in said Note. Said Note has been executed by the facsimile signature of David !I'. Kennedy, Mayor of The City of Miami, Florida, and the corpo- rate seal of said City has been impressed on said Note. I FURTHER CERTIFY that no litigation of any kind is now pending (either in State or Federal courts) restraining or enjoining the issuance or delivery of said Note or the fixing and collecting by the City of rates, fees and other charges for the use of, and for the services and facilities furnished by, any off-street parking facili- ties of the City or the maintenance of on -street parking meters within the City or the pledge of moneys to be deposited in the Miami Parking Facilities General Reserve Fund, a special fund created and designated by Ordinance No. 7414, adopted by the City Commission on March 14, 1966, as amended, or in any manner questioning the proceedings or au- thority under which said Note is issued or affecting the validity of said Note; that neither the corporate existence nor boundaries of The City of Miami nor the title of any officer whose signature or a facsimile of whose signature appears on said Note is being contested; and that no authority or proceedings for the issuance of said Note or for the security thereof have been repealed, revoked or rescinded. WITNESS my hand this 1 1 th day of June, 1973. SIG TURE * * OFFICIAL TITLE EXPIRATION OF TERM City Clerk xize._il; (7 75 I HEREBY CERTIFY that the signature above subscribed is true and genuine. ltrmst Officer of The First National Bank of Miami, Miami, Florida (4) CERTIFICATE OF DELIVERY AND PAYMENT I, W. R. Bailey, Director of Finance of The City of Miami, Florida, DO HEREBY CERTIFY that a One Million Dollar ($1'000,000) Note of The City of Miami, Florida, dated June 11. , 1973, bearing interest at the rate of five per centum (5%) per annum, payable quarterly, and maturing on June 11 , 1976, subject to prior payment in whole or in part as provided in said Note has this day been de- livered to the purchaser thereof upon payment of the purchase price of $1,000,000. Said purchase price of $1,000,000 was deposited with The First National Bank of Miami, Trustee under Ordinance No. 7414, adopted by the City Commission on March 14, 1966, as amended, to the credit of the Parking Facilities (Series C) Construction Fund for application to the payment of a part of the cost of certain Additional Facilities in accordance with the provisions of Ordi- nance No. 8148 adopted by the City Commission on March 8, 1973. WITNESS my hand this 1 1 th day of June , 1973. Director of e o The City of Miami, lorida EXCERPTS OF MINUTES OF REGULAR MEETING CITY COMMISSION OF MIAMI, FLORIDA On the 22nd 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 9:25 O'Clock A.M. by Vice Mayor Gordon with the following members of the Commission present: Messrs. Plummer, Reboso, Reverend Gibson and Mrs. Gordon. ABSENT: Mayor Kennedy * ** * * * * * * * NOTE: Mayor David T. Kennedy entered the meeting at 9:35 O'Clock A.M. * * * * * * * * * * AUTHORIZE CONTRACTING OF LOAN - OFF-STREET PARKING FACILITIES An Ordinance entitled - AN ORDINANCE AUTIIORIZING TIIE CONTRACTING OF A LOAN FOR PAYING A PART OF THE COST OF OFF-STREET PARKING FACILITIES WITHIN THE CORPORATE LIMITS OF THE CITY OF MIAMI AND PLEDGING FUNDS FOR THE PAYMENT OF SUCH LOAN was introduced by Mr. Plummer, seconded by Reverend Gibson and passed on its first reading by title by the following vote - AYES: Messrs. Plummer, Reboso, Reverend Gibson, Mrs. Gordon and Mayor Kennedy. NOES: None Mr. Mitchell Wolfson, Chairman of the Board of the Off -Street Parking Authority and Mr. Richard La Baw, Director, appeared and urged adoption of the ordinance. • EXCERPTS OF MINUTES OF REGULAR MEETING CITY COMMISSION OF MIAMI, FLORIDA On the 22nd 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 9:25 O'Clock A.M. by Vice Mayor Gordon with the following members of the Commission present: Messrs. Plummer, Reboso, Reverend Gibson and Mrs. Gordon. ABSENT: Mayor Kennedy NOTE: Mayor David T. Kennedy entered the meeting at 9:35 O'Clock A.M. AUTHORIZE CONTRACTING OF LOAN - OFF-STREET PARKING FACILITIES An Ordinance entitled - AN ORDINANCE AUTIIORIZING TIIE CONTRACTING OF A LOAN FOR PAYING A PART OF THE COST OF OFF-STREET PARKING FACILITIES WITHIN THE CORPORATE LIMITS OF THE CITY OF MIAMI AND PLEDGING FUNDS FOR THE PAYMENT OP SUCH LOAN was introduced by Mr. Plummer, seconded by Reverend Gibson and passed on its first reading by title by the following vote - AYES: Messrs. Plummer, Reboso, Reverend Gibson, Mrs. Gordon and Mayor Kennedy. NOES: None Mr. Mitchell Wolfson, Chairman of the Board of the Off -Street Parking Authority and Mr. Richard La Baw, Director, appeared and urged adoption of the ordinance. * * sk * * * * * * 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 5:40 O'Clock P.M. DAVID T. KENNEDY MAYOR ATTEST: H. D. SOUTHERN CITY CLERK RALPIH G. ONGIE ASSISTANT 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 2 inclusive contain true and correct excerpts of the minutes of a regular meeting held on the 22nd day of February, 1973, in the adoption of First Reading Ordinance pertaining to the contracting of a loan for part payment of cost of Off -Street Parking Facilities within the corporate limits of the City of Miami and pledging funds for the payment of such loan. WITNESS MY HAND and the official seal of the City of Miami, Florida, this 20th day of March, 1973. H. D. SOUTHERN CITY CLERK CITY MIAMI, FLORIDA i -1 0,17d EXCERPTS OF MINUTES OF REGULAR MEETING CITY COI MI SSION OF MIAMI ,, FLORIDA On the 8th day of March, 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 9:22 o'clock A.M. by Vice -Mayor Gordon and the following members of the Commission were found to be present: Messrs.,.Plummer, Reboso, Reverend Gibson and Mrs. Gordon. Absent:Mayor Kennedy. * * * OFF-STREET PARKING FACILITIES -CONTRACTING OF LOAN: An ordinance entitled - AN ORDINANCE AUTIIORIZING THE CONTRACTING OF A LOAN FOR PAYING A PART OF THE COST OF OFF-STREET PARKING FACILITIES WITHIN THE CORPORATE LIMITS OF THE CITY OF NIAMI AND PLEDGING FUNDS FOR THE PAYMENT OF SUCH LOAN; AND DECLARING THIS ORDINANCE TO BE AN EMERGENCY MEASURE passed on its first reading by title at the meeting of February 22, 1973, was taken up for its second and final reading by title and adoption. On motion of Mr. Plummer, seconded by Reverend Gibson, the ordinance was thereupon given its second and final reading by title and passed and adopted by the following vote - AYES: Messrs. Plummer, Reboso, Rev. Gibson and Mrs. Gordon. NOES: None. Mayor Kennedy absent. Said ordinance was designated Ordinance No. 8148. *** *** *** 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 6:30 O'clock P.M. DAVID T. KENNEDY ATTEST: H.D. SOUTHERN MAYO R CITY CLERK • RALPH G. ONGIE ASSISTANT 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 attached and fore- going page contains true and correct excerpts of the minutes of the regular meeting of the City Commission of Miami, Florida held on the 8th day of March,1973 in the adoption of Ordinance No. 8148 authorizing the con- tracting of a loan for paying a part of the cost of off-street parking facilities. WITNESS my hand and the official Seal of the City of Miami, Florida this 20th day of March, 1973. H.D. SOUTHERN CITY CLERK ITY-OF MXAMI,FLORIDA ORDINANCE NO., 8141 AN ORDINANCE AUTHORIZING THE CONTRACTING OF A LOAN FOR PAYING A PART OF THE COST OF.OFF66STREET. PARKING FACILITIES WITHIN THE CORPORATE LIMITS OF THE CITY OF MiAMi AND PLEDG- ING FUNDS FOR TFE PAYMENT OF SUCH LOANi AND DECLARING THIS ORDINANCE TO BE AN EMERGENCY MEASURE WHEREAS, the greatiy increased use by the public of motor vehicles of all kinds has caused serious traffic congestion in the City of Miami (hereinafter sometimes called the "City"); such traffic congesge tion impedes the free circulation of traffic in, through and from the City, and the rapidiandeffective fighting of fires and disposition of police forces, and endangers the health, safety and general welfare of the public; such congestion will be greatly relieved by making provision for additional off-street parking facilities;' and the providing of such off.. street parking facilities by the City is necessary for the protection and preservation of the peace, health, safety and property of the City and its inhabitants; and WHEREAS, the City is authorized and empowered to construct, reconstruct, equip, improve, extend, enlarge, maintain, repair and operate parking facilities within the corporate limits of the City; and WHEREAS, the Off -Street Parking Board of the City of Miami created by Section 23-A of the City Charter (hereinafter sometimes called the "Board") has caused Ramp Consulting Services, Inc., of Manhasset, L.I., New York (herein called the "Parking Consultants") to make surveys and to report to the Board the location within the City where additional off-street parking facilities are urgently needed at the present time and to provide a brief description of the off-street parking facilities to be constructed thereon, their recommendations as to the fees to be charged and their estimates of cost and of revenues based on the charges recommended by them and the Parking Consultants have submitted to the City a report recommending the immediate construction of the following off-street parking facilities in the City of Miami (hereinafter sometimes collectively called the "Additional Facilities"): and , Construction of a two'unit multilevel parking structure to contain approximately 690 spaces and a parking lot to contain approximately 120 spaces on the block bounded by NE 2nd Avenue on the east, NE 3rd Street on the north, NE 2nd Street on the south and NE 1st Avenue on the west; WHEREAS, the Board in accordance with the recommendations of the Parking Consultants proposes to construct the Additional Facilities on the site described above and operate the same as a part of the Off -Street Parking Facilities (as defined in Ordinance No.7414, adopted by the City Commission on March 14, 1966, as amended; and WHEREAS, the Additional Facilities will provide approximately 810 additional off-street parking spaces; and WHEREAS, the total cost of the Additional Facilities will be approximately $4,100,000 and all but $1,000,000 of this amount will be made available from the proceeds of Parking Facilities Revenue Bonds (Series C) of the City Issued pursuant to Ordinance No.8123 adopted by the City Com- mission on November 22, 1972 and other existing funds; and WHEREAS, the City Commission is authorized and empowered by Section 169.01, Florida Statutes, to contract loans for the use of the City and to pledge funds for the payment of such loans; now, therefore, BE IT ORDAINED by the Commission of the City of Miami: Section 1. For the purpose of providing funds for paying a part of the cost of the Additional Facilities, a loan in the aggregate principal amount of not exceeding One Million Dollars ($1,000,000) is hereby authorized, and to evidence such loan there shall from time to time be issued under and secured by this ordinance a note or notes of the City. Each of said notes shall be dated as of the date of its delivery and shall bear interest from such date at the rate of five per centum (5%) per annum payable, in the case of the note first issued hereunder on that certain date which is three months from the date of its delivery and quarterly thereafter, and, in the case of all later notes issued hereunder, on the same interest payment dates as said initial note ninety (90) days after said date of delivery and quarterly until the note shall have been paid. The principal of each note shall be payable three years from the date of delivery of the first note Issued hereunder. The notes shall be subject to prior payment in whole or in part as provided in the form for said notes hereinafter set forth. Section 2. The notes issued under this ordinance shall not be deemed to constitute a debt of the City or a pledge of the faith and credit of the City, but shall be payable solely from the special fund created therefore as hereafter des,:ribed. The principal and the interest on the notes issued under this ordinance are payable from moneys deposited to the credit of the special fund created by Ordinance No.7414, which was adopted by the City Commission on March 14, 1966, as amended by Ordinance No.7452, adopted on July 14, 1966 and Ordinance No.7517, adopted on February 8, 1967 and designated "Miami Parking Facilities General Reserve Fund" (therein and herein called the "General Reserve Fund"), which moneys are pledged to and charged with the payment of such principal and interest, such pledge being subject to all of the provisions of said Ordinance No.7414 as amended. Section 3. Said notes shall bear the facsimile signature of the Mayor of the City and shall be signed by the City Clerk, and the corporate seal of the City shall be impressed thereon. Said notes and the endorsements thereon shallbe in substantially the following forms: $1,000,000 UNITED STATES OF AMERICA STATE OF FLORIDA COUNTY OF DADE THE CITY OF MIAMI The City of Miami (herein called the "City"), a municipal corporation in the County of Dade, State of Florida, for value received, hereby promises to pay, solely from the special furd provided therefor as hereinafter set forth, to or order, on , 197, upon the presentation and surrender hereof at The First National Bank of Miami, in the City of Miami, Florida, the principal sum of DOLLARS In any coin or currency of the United States of America which on the dates of payment thereof is legal tender for the payment of public and private debts, and to pay, solely from said special fund, to the owner hereof by check or draft mailed to the owner interest from the date hereof on said principal sum or the unpaid balance thereof at the rate of five per centum (5%) per annum until payment of such principal sum, such interest being payable on , 197and quarterly thereafter until this note shall have been paid. This note shall not be deemed to constitute a debt of the Citjr or a pledge of the faith and credit of the City, but shall be payable solely from the special fund provided therefor. The City is not obligated to pay this note or the interest hereon except from such special fund, and the faith and credit of the City are not pledged to the payment of such principal or interest. The issuance of this note shall not directly or indirectly or contingently obligate the City to levy or to pledge any taxes whatever therefor or to make any appropriation for the payment of this note or the interest hereon except from such special fund. The principal of and the interest on this note are payable from moneys deposited to the credit of the special fund created by Ordinance No.7414, which was adopted by the City Commission on March 14, 1966, as amended by Ordinance,No.7452, adopted on July 14, 1966 and Ordinance No.7517. adopted on February 8, 1967, and designated "Miami Parking Facilities General Reserve Fund" (therein and herein called the "General Reserve Fund"),which moneys are pledged to1and charged with the payment of such principal and interest, such pledge being subject to all of the provisions of said Ordinance No.7414, as amended. This note is issued under and pursuant to the laws of the State of Florida, including Section 169, 01, Florida Statutes, and an ordinance duly adopted by the City Commission on 1973, reference to which and to said Ordinance No.7414, as amended, is hereby made for the rights of the owner of this note. The City reserves the right to pay and redeem the principal of this note or the unpaid balance thereof at any time'f rom any moneys that may be available for such purpose, or any part of such principal from moneys in the -4- General Reserve Fund, on any interest payment date without the payment of any redemption premium; provided, however, that the principal amount so paid and redeemed at any time shall be a multiple of Ten Thousand Dollars ($10,000), and that there shall also be paid the interest accrued on such amount from the date of this note or the date of the last interest payment, whichever shall be the later, to the date of such payment. Until'the principal. of and the interest on this note shall be paid in full or provision made for such payment, all deposits to the credit of the General Reserve Fund shall be made with The First National Bank of Miami, as Trustee under said Ordinance No.7414, as amended, and the Treasurer'of the Department of Off -Street Parking of the City shall,lfrom time to time as moneys are so deposited, give notice to the owner of this note to present the same to the Trustee for payment and cancellation or, in the case of any payment of part of the principal, for the endorsement thereon of the amount so paid. This note is not transferable or assignable except on the books of The First National Bank of Miami. All acts, conditions and things required by the Constitution and laws of the State of Florida and the ordinances and resolutions of the City to happen, exist and be performed precedent to and in the issuance of this note have happened, exist and have been performed as so required. IN WITNESS WHEREOF, the City of Miami has caused this note to bear the facsimiie signature of its Mayor and to be signed by its City Clerk and its corporate seal and to be impressed hereon, all as of the day of , 1973. (SEAL) (FacsJaile.sigaaturea Mayor City Clerk The following sums have been paid on the principal of this :tote together with the interest accrued on each such sum until the date of such payment: Amount Date of Signature paid Payment of Trustee Section 4. The proceeds of said note, together with other moneys available for such purpose, shall be deposited with said The First National Bank of Miami to the credit of the Parking Facilities (Series C) Construction Fund created by said Ordinance No.8123 and applied by the Board to the payment of the cost of the Additional Facilities in accordance with the provisions of Section 406 of said Ordinance No.7414, as amended, in so far as such provisions may be applicable. Section 5. The initial schedule of rates and charges for the use of, and for the services and facilities furnished or to be furnished by, the Additional Facilities shall be as described in said Ordinance No.8123. Section 6. Until the principal of and the interest on the note authorized hereby shall be paid in full or provision made for such payment the amount to be deposited in any fiscal year under clause (d) of Section 509 of Ordinance No.7414, as amended, to the credit of the Miami Parking Facilities Expansion Fund shall not exceed $600,000. Section 7. A copy of this Ordinance shall be posted by the City Clerk at the door of the Dade County Courthouse at the place provided for notices within five (5) days after the passage and adoption hereof. Section 8. For the reasons set forth in the preambles, this Ordinance is hereby declared to be an emergency measure on the ground of urgent public need for the preservation of peace, health, safety or property by a four•fifths (4/5) vote of the members of the Commission. PASSED on first reading by title only this 22nd day of February,1973. PASSED AND ADOPTED on second and final reading by title only this Sth day of March,1973. H D SOUTHERN CITY CLERK DAVID T KENNEDY MAYOR -7- • • • • STATE OF FLORIDA ) COUNTY OF DADS CITY OF MIAMI ) I, N. D. SOUTHERN. Clerk of tho City of Miami, Florida do hereby certify that the attached numbered 1 through 7 , inclusive, and foregoing pages contain a true and correct copy of an ordinance adopted by the said City at meeting designated Ordinance No. WITNESS my hand Miami, Florida this held on the 8th 8148 Commission of day of March, 1973, and the official Seal of The City of 12th day o March,/1?73 . • �ti(�E .� 7lt UTHERN CITY CL RK ) zc: