Resolution 007-1962
RESOLUTION NO.
7 -1962
A RESOLUTION authorizing and providing for the issuance of
$75,000.00 Certificates of Indebtedness of Monroe County,
Florida.
WHEREAS, pursuant to the provisions of Section 135.01, Florida
Statutes 1959, and pursuant to notice duly published, the Board of County
Commissioners of Monroe County, Florida, held a hearing on November
14, 1961, and determined it to be nece ssary to construct a Jail Sub-Station
at Marathon, Monroe County, Florida, and
WHEREAS, in order to pay the cost thereof said Board by Resolution
adopted on November 14, 1961, levied a building tax which in addition to
the previously levied building tax shall not exceed 5 mills on the dollar for
the year 1962 and for each year thereafter to and including 1971, and
WHEREAS, in accordance with Section 125.08, Florida Statutes 1959,
and pursuant to motion duly adopted by the Board of County Commissioners,
notice was published in The Key West Citizen on November 20th and No-
vember 27th, 1961, that sealed bids would be received on December 5, 1961,
for the construction of a Jail Sub -Station at Marathon, Monroe County,
Florida, and
WHEREAS, on December 5, 1961, in accordance with said notice,
the Board of County Commissioners met in session and received bids pur-
suant thereto and after having tabulated said bids referred said bids to the
Building Committee of said Commission, and to the Architect and Engineer"
and at a later meeting, held on January 16, 1962, determined that the best
bid was the bid of Alonzo Cothron, Inc., and
WHEREAS, pursuant to the finding so made, the Board of County
Commissioners awarded said contract to the company indicated above, and
authorized the execution of a contract with said company, and
WHEREAS, on motion duly made and adopted by said Board of County
Commissioners, the execution of a contract with William H. Merriam &
Associates, architects and engineers, was authorized for the purpose of
supervising the work contemplated in the construction of said Jail Sub-
Station at Marathon, Monroe County, Florida, and
WHEREAS, under the terms of said contracts, payment is to be made
for the work performed thereunder by funds borrowed from the Marathon
State Bank at Marathon, Monroe County, Florida, which said funds will
become available upon deliverance of Certificates of Indebtedness to said
Marathon State Bank; and
WHEREAS, all of the Certificates of Indebtedness to be issued as afore-
said are to be used in anticipation of the collection of the tax hereinabove re-
ferred to, and it is desired to evidence the indebtedness of Monroe County
to the foregoing Bank by such Certificates of Indebtedness aggregating the
total sum thereof payable at the times and in the manner and in the several
aggregate amounts as hereinafter provided,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA, as follows:
Section 1. That all provisions heretofore made for a tax levy on all
of the taxable property in said County not exempted from such tax by law,
to pay the cost of constructing a Jail Sub-Station at Marathon, Monroe Coun-
ty, Florida, which in addition to the previously levied building tax shall not
exceed 5 mills on the dollar, are hereby ratified and confirmed, and that
pursuant thereto there shall be and there is hereby ordered levied on all of
the taxable property in Monroe County, Florida, each year commencing
with the next annual tax levy for said County a special tax, which in addition
to the previously levied building tax shall not exceed 5 mills per annum, or
so much thereof as shall in addition to the previously levied building tax as
may be necessary to produce in each of the years 1962 to 1971, inclusive,
the following net amounts:
In the Year
Amount
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
$ 10,500.00
10,200.00
9,900.00
9,600.00
9,300.00
9,000.00
8,700.00
8,400.00
8,100.00
7,800.00
The foregoing respective amounts shall be included in the annual budget
for said County, and such tax shall be levied and collected each year at
the same time and manner as the levy and collection of taxes for County
purposes, and when collected shall be paid into a special fund hereby crea-
ted and identified as the "Monroe County 1962 Jail Sub-Station, Marathon,
Monroe County, Florida, Building Fund", to be used exclusively for con-
structing a Jail Sub-Station at Marathon, Monroe County, Florida, and
particularly shall be used and is hereby pledged to the payment of the interest
on and principal of $75,000.00 principal amount of Certificates of Indebted-
ness 1962 issue hereinafter authorized to be issued and delivered to the
Marathon State Bank, as set forth in the preamble hereto, pursuant to the
contracts therein described.
Section 2. That for the purpose of evidencing the payments to become
due under said contracts, there shall be and there is hereby authorized to be
issued and delivered to said Bank, Certificates of Indebtedness, 1962 Issue,
in the aggregate principal amount of $75, 000.00, or so many thereof as may
be necessary to provide the amount due under the aforesaid contracts. Such
certificates shall be numbered consecutively from 1 to 10 inclusive, shall
be dated March 15, 1962, shall be of the denomination of $7,500.00 each,
and shall mature serially and in numerical order on March 15 in each of the
years as follows:
Certificate Number Amount Year
1 $ 7,500.00 1963
2 7,500.00 1964
3 7,500.00 1965
4 7,500.00 1966
5 7,500.00 1967
6 7,500.00 1968
7 7,500.00 1969
8 7,500.00 1970
9 7,500.00 1971
10 7,500.00 1972
From and after March 15, 1962, interest at the rate of 4% per annum shall
be due and payable September 15, 1962, and semi-annually thereafter on
March 15th and September 15th of each year, and both principal and in-
terest as aforesaid shall be payable in lawful money of the United States
of America at the Marathon State Bank, Marathon, Florida.
Section 3. That each of said certificates shall be in substantially
the following form, to -wit:
"UNITE,D STATES OF AMERICA
STATE OF FLORIDA
COUNTY OF MONROE
CERTIFICATE OF INDEBTEDNESS
1962 ISSUE
Number
$7,500.00
This is to evidence that the County of Monroe, in the State of Florida,
for value received, is justly indebted to the Marathon State Bank, Mara-
thon, Florida, in the sum of Seventy-five Hundred Dollars ($7,500. OO),
which said County has agreed to and promises to pay to said Marathon State
Bank, or order, as hereinafter provided, on the
da y of
19 _' together with interest on said sum from the date hereof until paid at
the rate of Four per cent. (40/0) per annum, payable September 15, 1962 and
semi-annually on March 15th and September 15th of each year as said in-
terest becomes due. Both said principal sum and interest thereon are paya-
ble in lawful money of the United States of America at the Marathon State
Bank, Marathon, Florida. The County shall have the right to redeem this
certificate on any date that interest may become due hereon upon payment
of the principal sum plus interest due to said date of redemption.
This certificate is one of a series of certificates aggregating the prin-
cipal sum of $75, 000.00 issued and delivered by said County to the above
named payee pursuant to Resolution duly adopted by the Board of County
Commissioners of said County in evidence of the deferred payment of the
cost of constructing a Jail Sub-Station at Marathon, Monroe County, Florida.
And it is hereby certified and recited that all acts, conditions and
things required by the Constitution and laws of the State of Florida to be
done precedent to the authorization of the contracts in part payment of which
this certificate is issued and to the issuance of the series of certificates of
which this certificate is one, were and have been properly had, done and
performed, in regular and due form and time as required by law; that
this certificate has been authorized and issued for a lawful purpose;
that adequate provision has been made for the levy and collection of a
tax which, in addition to the previously levied building tax shall not ex-
ceed 5 mills on the dollar of all taxable property in said County not ex-
empted from such tax by law, for the payment of the principal and interest
of this certificate as the same become s due, and that the total indebtedness
of said County, including this certificate, does not exceed any constitutional
or statutory limitations.
IN WITNESS WHEREOF, said Monroe County, by its Board of Com-
missioners, has caused this certificate to be executed by the Chairman
and attested by the Clerk of said Board, and the Seal of said County to be
hereto affixed, all as of the 15th day of March, 1962.
Chairman, Board of County Commissioners.
Attest:
Clerk of the Circuit Court and ex officio
Clerk of the Board of County Commissioners \I
Section 4. That Paul E. Sawyer, as Attorney for the Board of Coun-
ty Commissioners, is hereby authorized and directed to take appropriate
proceedings in the Circuit Court of the Sixteenth Judicial Circuit of Florida
in and for Monroe County, for the validation of said certificates, and when
is sued each of said certificates shall have endorsed thereon a certificate
of validation in substantially the following form:
"Validated and confirmed by Decree of the Circuit Court of
the Sixteenth Judicial Circuit in and for Monroe County,
Florida, rendered on the day of , 19
Clerk of said Circuit Court. II
Section 5. That certificates as herein authorized be executed, and
thereupon the Clerk of said Board of County Commissioners is hereby
authorized and directed to deliver same to the Bank specified in the pre-
amble hereto upon the receipt from said Bank of the sum of $75, 000.00,
or so much thereof as shall be necessary, which said sum shall be ear-
marked for the payments on the contracts referred to in the preamble
hereto, and in accordance with the requirements of the laws of the State
of Florida for such payments.
:;, Ll , t, fl:-
, 1962.
Dated