O#74ORDINANCE NO. V4
AN ORDINANCE of the Town of Boynton, Palm Beach
County, State of Floridka, fim'~ng the aggregate amount
amount of a PROPOSED ISSUE OF BONDS of said To.~m in
the sum of FIVE HUh?DRED THOUSAND DOLL.~d~$ (_~500,000o00),
to be issued by the Town of Boynton, Florida; fixing
the denomination of said bonds and place of payment;
providing for said bonds to be coupon bonds; fixing
the rate of interest; the purpose for which the monies
to be derived therefrom shall be expended; fixing the
time when said bonds shall be payable; providing for'
and creating a sinking fund, and interest assessment
for meeting and discharging the principal and interest
of said bonds; prescribing the form and denomination
of'said bonds; providing for a bond of the Treasurer,
its amount, conditions and approval~ providing for a
separate account of each bond issued, showing the
n~nber and amount of bonds issued, the receipts there-
from and the disbursements of the proceeds thereof_
~E~S, the Tovm Commission of the To~,~m of
Boynton, Palm Beach County, Florida, deems it necessary
advisable and to the best interests of the said To~m
and the inhabitants thereof to issue bonds of said
Tmvn in the total aggregate amount of Five Hundred
Thousand Dollars (~500,000.O0) for the purposes
hereins~ter named; NOW THEREFORE:
BE IT ORDAIneD by the Town Commission of the
T~vn of Boy. ton, Palm Beach County. Florida, as
fo !low s:
Section t. That the Tova~ Commissi~ of the
Tow~ of Boy, tom, Palm Beach Co~uaty, Florida~ deem~
it necessary, advisable and to the best interests
of the said Town and the inhabitatns thereof to
issue bonds of said Town in the total aggregate
amount of Five Hundred Thousand Dollars(~j;500;000.00)
for the following named purposes, to-wit:
(a). Seventy-five Thousand Dollars (~78,000o00)
for the purpose of constructing, extending and im-
proving tile water works system within aud for said
T own;
(b). Thirty-five Thousand Dollars ~,:~oo,000.00)
for the purpose of extending, constructing ~ud im-
proving the electric light and lighting system for
and with said Tov.,~; ~
- ~' O00.00)
(c) One Hundred Fo~ty ~Uaousand Dollars (~f!~0,
for the purpose of opening, widenS_rig, and pavir~ the
streets and sidewalks for and within the said To~n;
(d). One Hund~ea Ton Thousand Dollars (~ll0,000.0~)
for the purpose of erecting public buildings within
and for the use of said Town, to-wit; the s~m of Forty
~)aous and Dollars ( '~
~0,000.00) thereof to be used for
the purpose of erecting, building and.constructing
a Town Hall for the use and benefit of such Town of
Boynton and tho residents and inhabitants thereof;
Seventy Thousand Dollars (~70,000.00) thereof to be
used for' the purpose of erecting, constructing, fur-
nishing and equiping a pavillion bathing establishment
for the use and benefit of t~o~o said Town of Boynton
and the residents amd inhabitants thereof.
(e). Eig~hteen Thousand Dollars (~18,000.00)
for the purpose of rei~nding outstanding indebtedness
of the said Towns
(f). One Hundred Twenty Two Thousand Dollars
($1~2,000.00) for the purpose of acquiring, opening,
constructLug and maintaining parks, promenades and
play ground's within and for said
Section 2. That said bonds shall each be in
the denomination of One Thousand Dollars (~l,000.00)
and shall be nuufoered from one (1) to five hundred
(800) both inclusive~ that said bonds shall be signed
by the Commissioners sad countersigned by the Treasurer
of said Town of Boynton~ Palm Beach County, Florida~
that said bonds shall bear interest coupons to be
signed by the fac-simile signature of the Treasurer
of said T~n of Boynton, Palm Beach County, Florida;
tb~t said bonds shall bear interest at the rate of
six per cent. (8%) per annu~, payable semi-annually,
on the' first days of April and October of each and
every year, commencing on the first day of October
A. D. 19~8, and that the principal and intereSt
said bonds shall be payable in Gold Coin of the
United States of ~merica of the present standard of
weight and fineness at the Seaboard National Bank in
the City of New York, or at the office of the Tovaa
Treasurer of the Tov~ of Boynton, Palm Beach County,
Florida, at the option of the holder thereof.
Section S. That said bonds sh~ll bear date of
October let, A. D. 1926 and shall become due and
payable in numerical order as follows:
Bonds numbered from ! to 10 inclusive in denomination
of !~l,O00.O0 each, to become due October l, 1931.
Bonds numbered from i! to 20 inclusive in denomination
of ~l,O00.O0 each, to become due October l, 1932.
Bonds numbered from 21 to 30 inclusive in denomination
of ~l,O00.O0 each, to become due October l, 1933.
Bonds numbered from 31 to 40 inclusive in denomination
of ~l)O00.O0 each, to become due October l, 1934.
Bonds ntm~bered from. 41 to 50 inclusive in denomination
of ~l,O00.O0 each, to become due October l, 1935.
Bonds numbered from 51 to 80 inclusive in denomination
of ~l,O00.O0 each, to become due October l, 1936.
Bondsr. numbered from. 5! to 70 inclusive in denomination
of ~l,O00.O0 each, to become due Octooer l, 193V.
Bonds numbered from 71 to 80 inclusive in denomination
of~,~J~!,O00.O0 each, to become due October 1, 1938.
Bonds numbered from 81 to 90 inclusive in denomination
of ~l, O00.O0 each, to become due October l, 1939.
Bonds numbered from 91 to 100 inclusive in denomination
of ~
~l, O00.O0 each, to become due October l, 1940.
Bonds numbered from 101 to 120 inclusive in denomination
of ~ ,000.00 each, to become due October l, 1941.
Bonds numbered f rom 121 to 140 inclusive in denomination
of ~l,O00.O0 each, to become due October l, 1942.
Bonds numbered from 1~1 to 160 inclusive in denomination
of ~l,O00.O0 each, to become due October l, 1943.
Bonds n~bered from i61 to 180 inclusive in denomination
of ~'
~I,000.00 each, to become due October 1, 1944.
Bonds numbered from 181 to 200 inclusive in denomination
of ~
· ~I~000.00 each, to become due October t, 1945.
Bonds numo~red from 201 to 228 inclusive in denomination
of ~l,O00.O0 e~ch, to become due October l, 19~0.
Bonds numbered from 229 to 258 inclusive in denomination
of $1~000.00 each, to become due October l, 1947.
Bonds numbered from 257 to 284 inclusive in denomination
of ~l,O00.O0 each, to become due October l, 1948.
Bonds numbered from 285 to 312 ~nc!usive in denomina-
tion of ~l,O00.O0 each, to become due October l, 1949.
Bonds ~mabered from 313 to 340 inclusive in denomina-
tion of ~l,O00.O0 each, to become due October l, 1950.
Bonds numbered from 341 to 3V2 inclusive in denomina-
tion of ~l,O00.O0 each, to become due October l, 1951.
Bonds numbered from 373 to 404 inclusive in denomina-
tion of ~l, O00.O0 each, to become due October l, 1982.
Bonds ntumbered from 305 to 438 inclusive in denomina-
tion of ~l,O00.O0 each, to become due October l, 1953.
Bonds numbered from 43V to 468 inclusive in denomina-
tion ofv~,~ 000.00 each,_ to become due October l, 1954.
Bonds n~mbered from 469 to 500 inclusive in denomina-
tion of ~l,O00.O0 each, to become due October l, 1955.
Section 4. That there shall be levied, assessed
and collected in each year while said bonds, or any of
them, are outstandLug and unpaid and at the same time
and in the same manner as other taxes are levied,
assessed and collected, a special tax in addition to
all other taxes levied upon all the taxable proper, ty,
both real and personal, within said Town, and realize
a sum sufficient to meet and discharge the interest
on said bonds as the same become due and also a suffi-
cient sum to provide for a sinking fund for the pay-
ment of the principal of said bonds at maturity, that
is to say; such taxes shall be levied, assessed and
collected in the su, during the years specified as'
follows; to-wit:
For the year 1986 - .~30,000.00
For the year 192V - .~30~000.00
For the year 1928 - ~35,000.00
For the year 1929 - ~35,000.00
For the year 1930 - ~40,000.00
For the year 1931 - ~39,400.00
For the year 1932 - ~38,800.00
For the year 1933 - 538,200.00
For t~e yesr 1934 - ~37,600.00
For the year 1935 - ~37,000.00
For t~e year 1936 - ~36,400.00
For t~.e year t937 - ~$o5,800:00
For the year 1938 - ~5,200.00
For the year 1939 - ~34,600 00
For the year 1940 - ~44,000[00
For the year 1941 - ~42,800.00
For the year 1942 - ~4!,600.00
For the year 1943 - ~40].400.00
For the year 1944 - !~39,200.00
For the year 1945 - ~46,000.00
For the year 194~ - ~44,3~0.00
For the year 1947 -
For the year 1948 - ~40,960.00
For the year 1949 - ~39,280.00
For the year 1950 - ~41,600.00
For the year 1951 - ~39,680.00
For the year 1952 - ~3V,V60.O0
For the year 1953 - ~35,840.00
For the year 1954 - i~23,920.00
Section 5. That the Treasurer of said Town
of Boymton, Palm Beach ~ounty, Florida, shall not
sign any of said bonds until he shall have given a
bond payable to the Town, properly conditioned, with
sufficient surety, to be approved by the To~im
Commissioners, and in an amount equal to the par
value of said bonds, that he will fsi thfu!!y perform
the duties of Treasurer with respect thereto.
Section 6. That the Treasurer of the Tow~ of
Boynton, Palm Beach County, Florida, shall keep a
separate account of each bond issue, shorn i~ the
number and amount of bonds issued, the receipts
therefrom and the disbursements of the proceeds
thereof
Section V. That the Tow~ Commission of the
T~vn of Boston, Palm Beach County, Florida, hereby
prescribed the form of said bonds as follows:
UI~ITED STf~TES OF ~IERICA
STATE OF FLORIDA
C0-0~TY OF PALI~i BEACH
TOV~ OF BOSTON
Number
$iooo $iooo
I ~IP ROVE ~J;~NT BO
issue 1926
KNOW ALL BiEN BY THESE PRESENTS, ttmt the Town
of Boynton, in Palm Beach County, Florida, by its
Commission, acknowledges itself indebted and pro-
mises to pay the bearer hereof, the s~um of One Thou-
sand Dollars (~l,000.00) on the first day of October
A. D. 19~__, with internist thereon at the rate of
six per cent. per annum,, payable semi-annually on
the first days of April and October in each year
upon presentation of the annexed interest coupons
as the same become due, both principal and interest
being payable in Gold Coin of the United States of
America, of the present standard of weight and fine-
ness, at the Seaboard National Bank in the City of
New York, State of New York, or at the office of
the Town Treasurer of the To~m of Boynton, Palm
Beach County, Florida, at the option of the holder
hereof.
The princioal of this bond and the interest
thereon are payable from taxes to be assessed,
levied and collected on all the taxable property
within the boundaries of the Tmon of Boynton,
Palm Beach County, Florida, and the full faith and
credit of the Town Commission of the Town of Boy~ton,
Palm Beach County, Florida, are hereby pledged for
the payment of the principal and interest of this
bond.
This bond is one of a series of five hundred
(800) bonds of like date, amount, tenor and effect,
except as to maturity, aggregating Five Hundred Thou-
sand Dollars (9500,000.00) issued by the Town of
Boynton, Palm Beach County, Florida, by .its Town
Commissioners £or the following purposes, to-wit:
(a). Seventy-five Thousand (~$,000.00) Dollars
for the purpose of constructing, extending and im-
priving the water works system within and for said
town;
(b) Thirty-five Thousand (~$$,000.00) Dollars
for the purpose of extending, constructing and im-
proving the ~ectric light and lighting system for
and within said town;
(c) One Hund_ed Forty Thousand (~l~O,O00.O0)
Dollars for the purpose of opening, widening and
paving the streets and sidewalks for and within the
said town ~
(d). One Hundred Ten Thousand Dollars (~llO, O00.O0)
for the purpose of erecting public buildings within
and for the use of said to~n, to-wit; the sum of Forty
Thousand Dollars (~0,000.00) thereof to be used for
the p~rpose of erecting, building and constructing
a Towua ~all for the use and benefit of such. Tovau of
Bo~nten and the residents and inhabitants thereof;
Seventy Thousand Dollars (~70,000.00) thereof to be
used for the p~rpose of erecting, construetihg, fur-
nishing and equiping a pavitlion bathing establish-
ment for the use and benefit of the said Town of
Boynton and the residents ~d inhabitants thereof.
(e). Eighteen Thousand Dollars (~@18,000.00')
for the purpose of refmnding outstanding indebted-
mess of the said Town;
(f). One Hundred Twenty-two Thousand (~!~.~ ~ 9.,000.00
Dollars for the pur?ose of acquiring, opening, con-
st~uctmno and maintaining parks promenades an'd play
grounds within and for said To'~n;
and this bond is issued under and in strich com-
pliance with provisions of the Constitution of the
State of Florida, and the Statutes of said State,
including, among others, Chapter 8918, Laws of
Florida, Special Acts, of !9~I, and pu~muant to an
Ordinance of the Tov~n of Boynton, Palm Beach Couuty,
Florida, duly adopted.
It is hereby certified, recited and declared
that all acts, conditions amd things required by
law to exist, happen and be performed, precedent
to and in the issuance of this bond, have existed,
have happened amd have been perfo_v~m, ed in regular
and due time, form and manner as required by law;
that the amount of this and, together with all other
indebtedness of the To~ua of Boynton, Palm Beach
County, Florida, does not exceed any limits pres-
cribed by the Constitution or Statutes of the State
of Florida, and that before the issuance of thi~
bond, provision has been made by ordinance of the
Town Commission of the Town of Boynton, Palm Beach
County, Florida, to assess annually a tax upon the
real and personal property within said Town of
Boynton, to realize a sum sufficient to pay the
interest on this b~nd as it may become due, and to
create a sinking fund for the payment of the prin-
cipal hereof at maturity.
INi~TNESS ~EREOF, the To~rn of Boynton, in
Palm Beach Co~uuty, Florida, by its Totem Commission
has c~used this bond to be issued by each
~ommiss~oners, a~d the seal of said Town to
affixed hereto, countersigned by the Treasurer of
S&id ~own, and has cuased the interest coupons
hereto attached to be signed with the fac-simile
signature of its Treasurer and this bond to be
dated the 1st day of Oc2ober A. D. 1928.
I~ember, Town Co~mission of
Town of Boynton, Florida.
~ember, Town Commi ss ion
of To~n of oyn,on,
B ~ Florida
Countersigned:
T~ensu~e~~ ~ ~ _, Town of Boynton,
Fla.
~ember, Tov~a Commission of
To~n of Boynton,F!orida.
That there shall be attached to each bond~
coupons for interest thereon for ~hzrty Dollars (~SO.O0)
each, being paygote semi-annually on the first days
of April and October of each year, which shall be
in the following form, to-wit:
$30. O0
April
On the first d~y of October, 19__, the Town
Commission of the Town of Boynton, Palm Beach County,
Florida, for and on behalf of said Town promises to
pay to She bearer Thirty Dollars (~30.00) in Gold
Coin of the United States of America of the present
standard of weight and fineness at the Seaboard
National Ban~ in the City of New York, State of New
York, or at the office of the Treasurer of the Town
of Boynton, Pa~ Beach County, Florida, at the 6ption
of the holder hereof, being six months interest then
due on its bond dated October 1st, A. D. 1926, payable
from taxes to be assessed, levied and collect~d' upon
all the taxable property within the boundaries of said
Te~n of Boynton, Palm Beach County, Florida.
Treasurer ~of the Town
of Boynton, Florida.
Section 8. Said bonds shall bear the following
endorsement.
"Validated and confirmed by decrees of the
Circuit Court of the Fifteenth Judicial Circuit
of the State of ~torida~in and for Palm Beach County,
Florida, rendered the day of A.D. !~26.
Clerk of Circuit Court of
the Fifteenth Judicial Circuit
of Florida in and for Palm
Beach County~"
Section 9. That when said bonds shall have
been executed as hereinbefore provided and the
proper certificate of their validation entered on
the back thereof by the Clerk of the C'ir-cuit Court
rendering the decree of validation and confirmation
and the same shall have been sold, said bonds shall
be, by the Treasurer of the said Torn, delivered to
the purchaser or purchasers thereof, and upon the
payment by said purchaser of purchasers of the pur-
chase price agreed upon, to the duly elected, qua&~
lified and acting Treasurer of the said ToYm, who
shall give to said purchaser receipt for the pur-
chase money, which said receipt shall be to the
purchaser or purchasers full acquittance for said
purchase money and the said purchaser or purchasers
shall not be required to see to the application of
the same.
Section 10. That all ordinances, resolutions
or orders or parts of ordinances, resolutions or
orders inconsistent or in conflict herewith be,
and the same are h~reby, rescinded and repealed,
and the orders herein contained shall go into
effect ten (10) days after the passage and adop-
tion thereof.
This ordinance passed and adopted this Vth
day of September A. D. 1926.
ATTEST:
E. L. Winchester,
Town Clerk.
R. O. ~lyers, (Signed)
Harry Benson, (Signed)
E.L.~finchester, (Signed)
Commissioners of the Town of
Boynton,Pa!m Beach County, Fla.