1961-464ORDINANCE 46-.,,
ORDINANCE Or CIV OF SOU T TU MIAMI, FLORIDA,
AUTHORIZING PURC"SE'Nk0M L. E. TALCOTT &
2 3 SOUTH MIAMI 24 SONS, , Ij
'LOIS
INDUSTRI&
�-_ S D I& :,Fft "A PURCHASE PRICE
OF $175MOO" PROVIDING $ANM � AND -MEANS
- 1p - D
OF PURCHASE - AND - PAYMENT , PROVIDING*VOR IS'
A: TES 1 OF SUANCE OF CERTIFICATES INDEBTEDNESS; PRO-
VIDING FOR SEVEMBILITY.
WHEREAS, the-- Cfty,4ts in dire need of 4ddi "garage And
storage facilities so as to preserve the present h gh level of
service to the taxpayers and residents of the City, and
WHEREAS, L. E. talcoitt & Sons, Inc., 'is the owner of certain
premises well suited to serve such needs of the City.
I I"
-&k)' go'By fHk`MAY"COUNCIL
NOW THEREFORE, BE 'IT OR IN R AND CITY
OF THE CITY OF SOUTH MIAMI, FLORIDA:
1. That the City agrees to purchase from L. E. Talco - tt.& Sons,
Inc., those certain lands legally described as, to-wit:
I - IM 1 i
Lots t,2,3 of S60KV - `9W�*IAL suivI0010N,
according to the Plat thereof, as recorded in
Plat Book 51 a ' at Page 52 of the Public Records of
Dade County, "Plorida,
for a purchase price 'of $175,ibb'd in accordance with 'the deposit
receipt attached hereto and made a part hereof by reference.
2. That the purchase price for said property shall be paid as
follows:
A. $50,660.00 at the time of closing.
B. At time !-of closing the City 'shall ` i§`Oue its "'r certificates
of,;indebtedness for the balance of the urchase price; said cer-
titicAtes Of ihdebtedne4s to bear 57 per annum and-, pro
vide 'for payment of the balance of the five price in equal
without
,annual payments, the right of
Ar 1 9 T
penalty in part or fdlltife.at any time. Said certificates of 'indebted-
b purchase money-mortgage pledging the
ness to be secured only,:_y a pi
ptir�cha_sied 'lands' provided that said cereifibates of indebtedness
I
shall be chargeable to and paid solely out of budgetary items
annually budgeted for such purpose.
The certiki cates of indebtedness herein'"
erdin provided for shall not
constitute a general obligation of the City.
3. The - dity Manager is hereby 'author I ized to execute on behalf
of the Citythe aforementioned deposit receipt.
4. That this property is being purchased for a necessary current
municipal need, including,.but not limited to, use as garage,-work-
shops, maintenance areas, storage areas and recreational facilities.
If yjetition ., subsection, sentence, clause or provision con-
0
tained here�t-tl-is held invalid, the remainder shall n t be affected.
This ordinance shall become effective upon its enactment in the
manner provided by law.
I PASSED AND ADOPTED this day of A.D. 1961.
ATTEST:
R
ity Tlerk
Presiding off icer, City council,