Loading...
R-274-45 RESOLUTION NO. 274 A RESOLUTION AWARDING $3500000 GOLF COURSE BONDS OF MIAMI SHORES VILLAGE, DATED MAY 1, 1945• WHEREAS, pursuant to Resolution No. 273, duly passed and adopted by the Village Council on September 18, 1945, notice was duly published calling for sealed bids to be received until 7:30 o'clock, P.M., October 2, 1945, for $350,000 Golf Course Bonds of Miami Shores Village, dated May 1, 1945, 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 offering to pay accrued Interest and enclosing a certified or bank eashierts check for $7,.000:- .W Bid of Atwill &° Company of Miami Beach, Florida offering $358,502 and accrued interest for said $350,000 Golf Course Bonds, $50,000 of said bonds maturing in the years 1946 to 1950, inclusive, bearing interest at the rate of 2.25 per annugL, and the remaining bonds bearing interest at the. rate of per annum. (2) Bid of John Nuveen & C6.; Lee ft,* Wheeler & Co., A. B. Morrison & Co.,of Miami, Florida, jointly offering $350_ ,210 and accrued interest for said $350,000 Golf Course Bonds, $95=000 of said bonds maturing in the years 1946 to 1954, inclusive, bearing interest at the rate of 3,50o per annum, $1800 000 of said bonds maturing in the years 1955 to 1962, inclusive, bearing interest at the rate of 3.25 per annum, and the remaining bonds bearing interest. at the rate of 2.75 % per annum. (3) Bid of B.J. Van Innen & Co.. Inc; The Ranson- Davidson C2M2any, Ince Bareus, Kindred & Co• of Miamit Florida offering $350_ ,675 and accrued interest for said $350,000 Golf Course Bonds, $40,000 of said bonds maturing the years 1946 to 1949, inclusive, bearing interest at the rate of 2 3 4 per annum, 830,0000 of said bonds maturing in the years 1950 to 1952, inclusive, bearing interest at the rate of 2 per annum, and the remaining bonds bearing interest at the rate of 3 1 4 per annum; and WHEREAS, 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 Atwill and Com any of Miami Beach,, Fla* offering to pay $358,502 for said $3500000 Golf Course Bonds, $50,000 of said bonds maturing in the years 1946 to 19500 inclusive, bearing interest at the rate of 2 1 4 per annum, and the remain- ing bonds bearing interest at the rate of 0 per annum; now, there- fore, BE IT RESOLVED by the Village Council of Miami Shores Village, Florida: Section 1. That the above-mentioned bid of Atwill and'' Company of Miami Beach, Fla, offering to pay $358j5502 for said $350,000 Golf Course Bonds, $50,000 of said bonds maturing in the years 1946 to 1950s inclusive, bearing interest at the rate of 2 1 4o per annum: and the remaining bonds bearing interest at the rate of per annum, be and the same is hereby accepted and said bonds are hereby awarded to said Atwill and Company. of Miami Beach, Florida at said price and under said terms, delivery of said bonds to be made on or about October 23, 1945, at the 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 amount paid as accrued interest on said bonds shall be deposited to the credit of a special fund and applied to the payment of the interest payable on said bonds on November 1, 1945, and the balance of the proceeds of said bonds shall be disposed of as follows: Simultaneously with the delivery of said bonds a sufficient amount of such proceeds shall be- applied to the payment and satin= faction of all of the obligations which are now outstanding and which are secured in whole or in part by the Miami Shores Golf Course or the revenues thereof* - 2 - I The balance of such proceeds shall be deposited for 'the credit of a special fund for constructing improvements upon the Miami Shores Golf Course, Section 4. That the officers of the Village are hereby authorize(i and directed to take all steps necessary to carry into effect the provisions of .this resolution. Section 5. That this resolution shall be in force and effect from and after its passage. PASSED ARD ADOPTED this 2nd day of Octobers, 1995* Moor � r a gew, and Cler-Iff 3 ..