85-NNRESOLUTION NO. 85-NN
RESOLUTION PROVIDING FOR THE ISSUANCE OF
$2,650,000 PUBLIC SAFETY FACILITIES BONDS
OF THE CITY OF BOYNTON BEACH, FLORIDA.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BOYNTON BEACH, FLORIDA:
Section 1. It is hereby found and determined that:
(a) The City Council on January 15, 1985, duly
adopted Ordinance No. 85-1 authorizing the issuance, subject
to the election therein provided for, of bonds of the City
of Boynton Beach, Florida, in an aggregate principal amount
not exceeding $2,650,000 bonds of the City of Boynton Beach,
Florida, for. providing funds, together with any other
available funds for paying the cost of acquiring and
constructing public safety facilities in the City of Boynton
Beach consisting of the construction of a new satellite fire
station, the construction of parking facilities to service
such public safety facilities, together with any equipment
and furnishings necessary or desirable in connection
therewith, and Ordinance No. 85-7, providing for the holding
of a special bond election on March 12, 1985, for the pur-
pose of submitting to the qualified voters of the City of
Boynton Beach the question whether said $2,650,000 bonds
should be issued.
(b) Said election was duly conducted and the
returns thereof were duly and regularly canvassed and cer-
tified and the City Council has accepted the certification
of the Palm Beach County Canvassing Board and declared the
results of said election and caused the same to be recorded
in its minutes all as provided
by law, and it appears from the returns of said election that more
than a ma3ority of the qualified voters of the City of Boynton
Beach voting thereon voted in favor of issuiqg said $2,650,000
bonds by a no~e of 3,291 for and 1,476 against said bonds.
Section 2. For the purpose of providing funds, together
with any other available funds, for paying the cost of acquiring
and constructing public safety facilities in The City of Boynton
Beach consisting of the construction of additions to the existing
police and fire station, the construction of parking facilities to
service such public safety facilities, together with any equipment
and furnishings necessary or desirable in connection therewith, as
set forth in said Ordinance No. ~5-1. ~h~r~ ~h~11 he ~~ ~:~1
obligatiOn bonds of the City of Boynton Beach, Florida, in the
aggregate principal amount of $2,650,000. Said bonds may be issued
at one time or in series from time to time, shall be dated, shall
be designated, shall be in the denomination of $5,000 each or any
multiple thereof, shall be numbered, shall bear interest, payable
semi-annually, from their date or dates until their payment at a
rate or rates not exceeding the legal rate, as shall be determined
at the time of sale thereof, shall be stated to mature (sub3ect to
the right of prior redemption, if any) at such time or times not
exceeding thirty (30) years from their date or dates, may be made
redeemable prior to their maturity date or dates and may be conso-
lidated for purposes of sale and issuance with all or any of the
bond issues approval at the ~arch 12 referendum as a consolidated
issue of "General Obligation Bonds (Series 1985)" and subject to
such other conditions, all as shall be determined by the City
Council of the City of Boynton Beach by resolution adopted prior
to the issuance of said bonds or any series thereof.
-2-
Both the principal of and the interest on said bonds
may be payable at a bank or trust company, in the Borough of
Manhattan, City and State of New York or, at the option of the
registered owner, at a bank or trust company, in the State of
Florida, in any coin or currency of the United States of America
which, at the respective dates of payment thereof, is legal tender
for the payment of public and private debts.
Section 3. Said bonds shall be signed by or bear the
facsimile signature of the Mayor of the City of Boynton Beach and
shall be signed by or bear the facsimile of the official seal of
the City of Boynton Beach shall be imprinted thereon. In case any
appear on any bonds shall cease to be such officer before the de-
livery of such bonds, such signature or such facsimile shall never-
theless be valid and sufficient for all purposes the same as if he
had remained in office until such delivery. Said Bonds shall be
substantially in the form established by resolution of the City
Council to be adopted prior to the sale of the bonds.
Section 4. Said bonds shall be issuable solely as fully
~egistered bonds without coupons and shall be sub3ect to transfer
in accordance with the provisions for such registration and transfer
established by subsequent resolution of the City Council.
Section 5. For the prompt payment of the principal of
and the interest on said bonds as the same shall become due, the
full faith, credit and taxing power of the City of Boynton Beach
are hereby irrevocably pledged.
Section 6. As provided by said Ordinance No. 85-1,
both the principal of and the interest on said bonds are payable
-3=
from unlimited ad valorem taxes to be levied annually on all tax-
able property within the City of Boynton Beach, which taxes are
to be levied and collected at the same time and in the same manner
as ad valorem taxes levied for operating expenses of the City of
Boynton Beach and are to be in addition to all other taxes authorized
to be levied by the City of Boynton Beach.
Section.7. This resolution shall take effect immediately
upon its adoption.
PASSED AND ADOPTED by the City Council of the City of
Boynton Beach, Florida this 18th day of June, 1985.
Mayor
cil Membe~
Council Member
Attest:
/~ City Clerk
-4-