09-07-1948 Regular Meeting 57
REGULAR MEETING
MIAMI SHORES VILLAGE COUNCIL
September 7, 1948
The regular semi-monthly meeting of the Village Council of Miami
Shores Village, Florida, was held at 7:30 o'clock P.M., Eastern Standard Time,
September 7, 1948 at the Municipal Office, with the following Councilmen present:
L. J. McCaffrey
M. E. Reynolds
George A. Frix
Absent: Roy Mackenzie, Mayor
Howard I. Parish
The Village attorney, Mr. Anderson, was also present.
Councilman Reynolds introduced the following resolution and moved its
adoption:
MIAMI SHORES VILLAGE RESOLUTION NO. 292
RESOLUTION APPROVING PUBLICATION OF NOTICE OF SALE OF
$100,000 VILLAGE HALL BONDS OF MIAMI SHORES VILLAGE.
WHEREAS, notice of sale of $100,000 Village Hall Bonds of Miami Shores
Village, Florida, dated May 1, 1948, in the form provided by Miami Shores Village
Resolution No. 291, adopted on August 17, 1948, except for the substitution in
the next to the last paragraph thereof of "November 1, 1948" for "October 11, 1948",
was published in The Miami Herald on August 23, 1948 and in The Daily Bond Buyer
on September 2, 1948; and
WHEREAS., the publication of said notice on said dates complied with
all requirements of law and afforded to all interested parties adequate opportun-
ity to submit bids for the purchase of said bonds; now, therefore,
BE IT RESOLVED by Miami Shores Village, Florida:
Section 1. That the publication of said notice in the form aforesaid
in The Miami Herald on August 23, 1948 and in The Daily Bond Buyer on September
2, 1948 be and the same is hereby found to be sufficient notice of sale of said
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bonds and is hereby approved.
Section 2. That the provisions of this resolution shall supersede
and amend the provisions of said Miami Shores Village Resolution No. 291 which
are in conflict therewith.
Section 3. That this resolution shall be in full force and effect
immediately upon its passage.
PASSED AND ADOPTED this 7th day of September, 1948.
Mayor
Attest:
Village Manager and Clerk
The motion for the adoption of the foregoing resolution was seconded
by Councilman Frix, and upon roll call the motion was passed with the following
voting Aye:
L. J. McCaffrey
M. E. Reynolds
George A. Friar
and the following voting Nay:
None
The acting Mayor thereupon declared the resolution adopted.
Following the adoption of said resolution, all sealed bids which had
been received for said $100,000 Village Ball Bonds of Miami Shores Village,
Florida, were opened in public and read. After considering the bids, Councilman
Frix submitted, the following resolution:
MIAMI SHORES VILLAGE RESOLUTION NO. 293
RESOLUTION AWARDING $100,000 VILLAGE HALL BONDS OF MIAMI
SHORES VILLAGE
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WHEIWAS, notice was duly published calling for sealed bids to be
received until 7:30 o'clock P.M., Eastern Standard Time, September 7, 1948,
for $100,000 Village Hall Bonds of Miami Shores Village, Florida, at which hour
bidding was closed and the following bids were found to have been filed and to
accord in all respects with the terms of said notice, each bid enclosing a duly
certified or bank cashier's check for $2,500:
(a) Bid of G. B. Stephen, 140 N. E. 95th Street, Miami, Florida,
offering to pay $100,000.00 for said $100,000 Village Hall Bonds of Miami. Shores
Village, Florida, $12,000 of said bonds maturing in the years 1949 to 1950,
inclusive, bearing interest at the rate of 3j$ per annum, and the remaining
bonds bearing interest at the rate of 4% per annum;
(b) Bid of Stranahan, Harris & Co., Inc., Toledo 4, Ohio, offering
to pay $100,100.00 for said $100,000 Village Hall Bonds of Miami Shores Village,
Florida, $48,000 of said bonds maturing in the years 1949 to 1956, inclusive,
bearing interest at the rate of 3j% per annum, and the remaining bonds bearing
interest at the rate of /+% per annum;
(c) Bid of John Nuveen & Co, 135 So. LaSalle St., Chicago, Illinois,
offering to pay $100,273.00 for said $100,000 Village Hall Bonds of Miami Shores
Village, Florida, all bearing interest at the rate of I+% per annum;
(d) Bid of Paul Frederick & Co. and Herbert J. Sims & Co., Inc.,
New York, offering to pay $100,119.20 for said $100,000 Village Hall Bonds of
Miami Shores Village, Florida, $30,000 of said bonds maturing in the years 1949
to 1953, inclusive, bearing interest at the rate of 5% per annum, $1,,8,000 of
said bonds maturing in the years 1954 to 1961, inclusive, bearing interest at the
rate of4% per annum, and the remaining bonds bearing interest at the rate of
*% per annum;
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(e) Bid of Barcus, Kindred & Co., 231 So. LaSalle Street, Chicago,
Illinois, offering to pay $100,260.00 for said $100,000 Village Hall Bonds of
Miami Shores Village, Florida, all bearing interest at the rate of 3% per annum;
(f) Bid of Bessemer Properties, Inc., 1317 Biscayne Blvd., Miami,
Florida, offering to pay $101,007.00 for said $100,000 Village Hall Bonds of Miami
Shores Village, Florida, all bearing interest at the rate of 30 per annum;
(g) Bid of A. M. Bidder & Co., Miami, Florida, offering to pay
$100,000 for said $100,000 Village Hall Bonds of Miami Shores Village, Florida.,
all bearing interest at the rate of 4$ per annum;
(h) Bid of B. J. Van Ingen & Co., Miami, Florida, offering to pay
$100,209.00 for said $100,000 Village Hall Bonds of Miami Shores Village, Florida,
all bearing interest at the rate of 3j% per annum;
(i) Bid of Atwill & Co., Miami, Florida., offering to pay $100,017.70
for said $100,000 Village Hall Bonds of Miami Shores Village, Florida, $18,000
of said bonds maturing in the years 1949 to 1951,. inclusive, bearing interest at
the rate of 3j% per annum, and the remaining bonds bearing interest at the rate
of 3% per annum; and
WMET&AS, the bid offering to purchase the bonds at the lowest interest
cost to the Village, such cost being determined by deducting the total amount of
the premium bid from the aggregate amount of interest upon all of the bonds until
their respective maturities, is the bid of Bessemer Properties, Inc., 1317 Biscayne
Blvd., Miami, Florida, offering to pay $101,007.00 for said $100,000 Village Hall
Bonds of Miami Shores Village, Florida, all bearing interest at the rate of 3j%
per annum; now therefore,
BE IT RESOLVED by Miami Shores Village, Floridan
Section 1. That the above-mentioned bid of Bessemer Properties, Inc.,
offering to pay $101,007.00 for said $100,000 Village Hall Bonds of Miami Shores
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Village, Florida, all bearing interest at the rate of 3 per annum., be and the
same is hereby accepted and said bonds are hereby awarded to said Bessemer
Properties, Inc. at Paid price and on said terms, delivery of said bonds to be made
on or about November 1, 1948 at Florida National Bank and Trust Company in the
City of Miami, Florida.
Section 2. That the checks of unsuccessful bidders shall be
immediately returned.
Section 3. That the officers of the Village are hereby authorized and
directed to take all steps necessary to carry into effect the provisions of this
resolution.
Section 4. That this resolution shall be in force and effect from and
after its passage.
PASSED AND ADOPTED this 7th day of September, 1948,
Mayor
Attests
Village Manager and Clerk
Councilman Reynolds moved that the foregoing resolution be adopted.
The motion was seconded by Councilman Frix. Upon roll call the motion passed with
the following voting Aye:
L. J. McCaffrey
M. E. Reynolds
George A. Frix
and the following voting Nay:
None
The acting Mayor thereupon declared the resolution adopted.
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Mr. John J. Lindsey, attorpey for the Board of Public Instruction,
presented a proposal to the Council for closing N. E. 104th Street between N. E.
5th and 6th Avenues to join the two blocks now or presently to be owned by the 1
Board of Public Instruction for school and playground purposes. The proposed
ordinance affecting this is to be taken up at the next Council meeting and/or
when the Board of Public Instruction obtains legal title to the new property,
Block 111.
The meeting adjourned at 8:00 P.M.
Village MiAlrer Clerk
APPROVED:
� --�
Mayor
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