1926-1 - 5 (2)L
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,jSOLJT�11017 21'T-:ORj17 In:
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OT117R 11=ESSILRY MVI ..NCE QY I ED '.:I'S S T7:
AND TO AUTHORIZE T", PI:: )GING Or U1-M7 ED Try
CEMIFICATES AS SECURIMM" FOR T1 PIML--rAff OF SUCH
INDEBTM' S AI'D 1?°OVIDIXG FOR MM RE-P.AXI'21TT
MIMREOF-
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YrA3RrF kS, the City of South Yiami; Florida, Is now
the owner and holder of sundry un,recleemeCi tax certificates by
it purchased for the non-payment of municipal -taxes fir the
years 1926 and 1927; and,
t
SAS, said City Of South Miami is immediately in
need of the approximate sum, )f Twelve Tb ousand. Dollars ($12,000.00)
for general municipal purpos! s and to defray the expensee of
government; and,
=EAS , the Bank
has expre-6-secl its-�_17_11ingness to lend said sum of Twelve Thousand
Dollars ($12,000.00) to said City of South Miami upon the
execution and delivery to sal%ft Bank of the City's note in said
principal sum bearing interest at the rate of eight p er cent.
per annum until paiCL and maturing one (1) year from date of said
note..- said City shall deliver with its said note and
as collateral security therefor the said unredeemed tax certific-
ates by it now held which are in the approximate sum of
NOW, THF=OPY,, BE IT- RESCUM BY,Tn RUOR An,(= -,
Cou TIa OF THE CITY OF SOU M.A.M. FLORIDA:
l., That the City of South M t ami, Florida, be and he same
is hereb. y uthorized to borrow from said
4e I
Bamk said principal sum of Twelve Thousand Dollars (012,000.00)
and to execute its note evicloncing the same to be of (late the
day of 1928 and to mature and become due
and payable one (1) year fro,r.,i said date; to bear interest at the
rate of eight per cent. (8) per annum and as security therefor to
deposit with said Bank all presently owned unredeemed tax certificates
of the said Cit; of Sou.t% 1=ami, Floricla.
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