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R-289-48 RESOLUTION NO. 289 A RESOLUTION PROVIDING FOR THE ISSUANCE OF $125.4000 VILLAGE HALL BONDS. WHEREAS, the Village Conned]. of Miami Shores Village,, Dade County, Florida,, by Resolution No. 287,, duly and regularly adopted at its regular semi-monthly meeting held April 6, 1948, ordered an election to be held in said Village for the purpose of submitting to the qualified electors thereof who were freeholders therein, the question of issuing $125,000 bonds of M ami Shores Village for the purpose of paying the cost of constructimg and equipping a build- ing for Village offices and administration; and MEREAS, due and proper notice of said bond election was given as required by law, the results thereof were duly and regularly certified and can- vassed, and said election resulted in favor of the proposition to issue such bonds; now, therefore, BE IT RESOLVED by Miami. Shores Village,, Dade County, Florida, as follows: - Section 1. For the purpose of paying the cost of constructing and equipping a building for Village offices and administration, there shall be issued, under the authority of the Charter of said Niami Shores Village and the laws of the State of Florida, the negotiable coupon bonds of Miami Shores Village in the aggregate principal amount of $125„000, to be designated "Village Hall Bonds”, and to consist of 125 bonds of the denomination of $ls, each, numbered 1 to 125, inclusive. Section 2. Said Village Hall Bonds shall be dated as of May 19 19481, shall bear interest at the rate of five per centum (5%) per annum, unless the Village Council shall. be able to sell all or a part of said bonds bearing interest at a lower rate or rates,, in which case it is the intention of the Village Council to sell said bonds at such lower rate or rates, and the interest on said bonds shall be payable semi-annu&.11y on the first days of May and November in each year. Said bonds shall mature annually, May 1, without option of prior payment, in the order of their numbers, $6,,000 in each of the years 1949 to 1963, inclusive,, and $7,000 in each of the years 1964 to 1968,, inclusive. Both the principal of and the interest on said bonds shall be payable at Chemical Bank & Trust Company in the City of New York in any coin or currency of the United States of America which,, at the respective dates of payment thereof, is legal tender for public and private debts. Section 3, Said Village Hall Bonds shall be signed by the Mayor and by the Village Manager and Clerk of Miami Shores Village, and shall be sealed with the official seal of said Village, and the interest coupons thereto attached shall be executed with the facsimile signature of said Mayor. Said bonds and coupons and the validating certificate to be endorsed on each bond shall be in substantially the following forms; No. _ $1,000 United States of America State of Florida County of Dade MIAMI SHORES VI11WE Village Hall BgW Miami Shores Village, a municipal corporation in Dade County, State of Florida, is justly indebted and for value received hereby promises to pay to the bearer on the first day of May, 19 _, the principal sum of ONE THOUSAND DOLLARS together with interest thereon at the rate of _„_% per annum, payable semi- annually on the first days of May and November in each year upon the presentation and surrender of the attached interest coupons as they severally become due. Both the principal of and the interest on this bond are payable at Chemical Bank & Trust Company in the City of New York in azW coin or currency of the United States of America which, at the respective dates of payment thereof, is legal tender for public and private debts. For the prompt payment hereof, both principal and interest as the same shall fall due, the full faith, credit and taxing power of said Miami Shores Village are hereby irrevocably pledged. This bond is one of a series issued by said Miami Shores Village under the authority of and in full compliance with the Constitution and laws of the State of Florida and the Charter of said Village and approved by a majority of the votes cast in an election duly called and held for that purpose in which a majority of the freeholders who were qualified electors residing in said Village participated, and is issued pursuant to resolutions duly adopted by the Village Council of said Village for the purpose of paying the cost of constructing and equipping a building for Village offices and administration. It is hereby certified and recited that all acts, conditions and things required to happen, exist and be performed precedent to and in the issuance of this bond have happened, exist and have been performed in due time, form and -2- manner as required by the Constitution and laws of the State of Florida; that the total indebtedness of said Miami Shores Village, including this bond, does not exceed any constitutional or statutory limitations thereon; and that pro- vision has been made for the levy and collection of a direct annual tax upon all taxable property within said Village sufficient to pay the principal of and interest on this bond as the same shall fall due. IN WITNESS WHEREOF, said Miami Shores Village has caused this bond to be signed by its Mayor and by its Village Manager and Clerk, and the official seal of said Village to be hereto affixed, and the attached interest coupons to be executed with the facsimile signature of said Mayor, all as of the first day of May, 1948. MIAMI SHORES VILLAGE A By . t rr—• Mayor Village Manager and Clerk (ENIDORSEKENT ON BONDS) Validated and confirmed by decree of the Circuit Court of the Eleventh Judicial Circuit of the State of Florida, in and for Dade County, rendered on , 1948. Clerk of said Circuit Count (COUPON) No. On i, 19 Miami Shores Village, a municipal corporation in Dade County, Florida, will pay to bearer at Chemical Bank & Trust Company in the City of New York the sum of I Dollars in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts, as provided in, and for the semi-annual interest then due upon, its Village Hall Bond, dated May 1, 1948, No. .. u Mayor . •3- Section 4. For the prompt payment of the principal of and the interest on the bonds authorized by this resolution as the same shall fall due, the fall faith, credit and taxing power of Miami Shores Village are hereby irrevocably pledged. Section 5. In each year while any of said Village Hall Bonds shall be outstandirig, there shall be levied upon all property within Miami Shores Village subject to taxation for such purposes, a special tax sufficient to pay the interest on and the principal of said bonds as the same respectively become due and payable, and also a sum sufficient to provide for probable failures of collection of such tax in the same fiscal. year. Such taxes shall be levied and collected at the same time and in the same maner as ad valorem taxes levied for operating expenses of said Village, and the proceeds of such taxes shall be need exclusively for the purpose for which the same are levied. The Village covenants that it will not accept payment of taxes levied for operating expanses of said Village unless there are paid at the same time the taxer levied to make the interest and principal payments required by this resolution. The taxes so levied shall be in addition to all other taws levied by Miami Shores Village. Section 6. The Village Attorney is hereby authorized and directed to take proper proceedings for the validation of the Village Hall Bonds author- ized by this resolution, Section 7. This resolution shall be in full force and effect immedi- ately upon its passage. Passed and Adopted this day of dune, A.D., 1948. Mayor Attests t illage ger aM Clerk -4.