O59-17ORDINanCE #59-17
A~ ORDINANCE PROVIDI~G FOR THE SUBMISSION TO THE
VOTERS OF THE CITY OF BOYNTON BEACH, WHO ARE FR~-
HOLDERS, THE QL.tESTION OF ISSUING ~JMICIPAL BUILD-
ING BOhVDS AT A GEA~.~L ELECTION TO BE HELD IN A~ND
FOR SAID CITY ON THE 1ST DAY OF DECEMBER 1959-
~EAS, the City of Boynton Beach does not at present have a
recreation center, and it is deemed advisable in the interest of
the public to build a recreation center; and
WHEREAS, the Council of the City of Boynton Beach has here-
tofore estimated the cost of constructing a recreation center,
and does hereby estimate that it will cost not less than $150,000.00;
and
WHEREAS, funds are not available for the purpose of construc-
ting a recreation center, as hereinabove mentioned, and it will
therefore be necessary to borrow money and in evide~ace thereof
issue bonds of the city, and before bonds can be issued the question
of issuing said bonds must be submitted to the electors of saic city,
who are freeholders, and approved by a majority of the electors vot-
ing on said question at an election called for that purpose, or at
a general election;
N~, T~R~ORE, be it ordained by the Council of the City of
Boyntou Beach, as follows:
SECTION l: That it is hereby determined to be in the interest
of the City of Boy~ton Beach to construct a recreation center, as
hereinabove mentioned in the preamble of the ordinance, and for that
purpose it will be necessary that the city borrow mousy and in evi-
dence thereof issue the bonds of said city.
SEC_ION 2: That there be borrowed by, for and o~a behalf of
said city the sum of $150,000.00 for the purpose of paying the
cost of constructing a recreation center, and that to evidence
said loan negotiable bonds of said city be issued, and that said
bonds be designated ,'Recreation Center Bonds~, be one hundred
fifty in number, numbered from I to 150, inclusive, be of the
'denomination of $1,000.00 each, and mature in 20 years, and bear
interest from date at a rate not to exceed five (5) percent per
a~uum, payable semi-ar~ual!y o
SECTIOM 3: That the question of issuing said ~150 ,000 .00
municipal building bonds of said city, as hereinabOve described
in Section 2 hereof, be submitted to the qualified electors of
said city, who are freeholders, at a regular election to be held
in said city on the 1st day of December 1959 between the hours
of 7:00 AcM. and 7:00 P.M. of said day.
SECTIO~ 4: That the ballot to be used at said election for
the purpose of submitting the question to the voters shall be
in substa~atially the following form:
~ BUIT~DING BONDS
QUE~STION TO ISST~JE ~150,000.00 MU~MICIPAL
(instruction to Voters: Place a cross (X)
im the square opposite the word indicating
the way you desire to vote.)
Shall bonds iu the amount of ~150,000.00
be issue by the City of Boynton Beach
for the purpose of paying the cost of
constructing a recreation center in amd
for the City, maturing in 20 years amd
bearing interest at a rate not to exceed
five (5) percent as provided by Ordinance
#59-17 passed amd adopted by the City
Council on the day of
entitled
Ordinance #59-17
An Ordinance providing for the submission
to the Voters, who are Freeholders, of the
City of Boynton Beach, the question of is-
suing $150,000.00 Municipal Building Bonds
at a General Election- to be held in and
for said City on the 1st day of December
1959.
FOR THE ORDINANCE
AGAINST T~ ORDINANCE
SECTION 5: That this ordinance shall take effect Upon its
ratification at a referendum, election to be held on the !st day
of December 1959, in accordance with the orovisions of the Charter
of the City of Boy,ton Beach for holding bond elections.
First reading this 19th day of October
, 1959o
Second, final reading ar_d passage this 30th~' day of October , 1959.
~ i ~ I i? , , ~ .Z
CO ~C I L~-~
Attested by: