74-PRESOLUTION NO. 74- ~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BOYNTON BEACH, FLORIDA, AUTHORIZING THE
TRANSFER TO SAID CITY OF FUNDS HELD BY ATLANTIC
NATIONAL BANK OF WEST PALM BEACH FOR PAYMENT OF
SAID CITY'S 1961 SERIES A&B WATER AND SEWAGE BONDS.
WHEREAS, the Atlantic National Bank of West Palm Beach,
West Palm Beach, Florida, is a co-paying agent as to the City
of Boynton Beach, Florida 1961 Series A&B Water and Sewage Bonds,
which bonds were called in for redemption on June 1, 1972; and
WHEREAS, the said Bank is still holding funds for payment of
such bonds as have not been submitted for payment; and
WHEREAS, the City of Boynton Beach is agreeable to the
transfer of such remaining funds to said City for payment of
all remaining bonds outstanding.
NOW, THEREFORE, BE IT P~ESOLVED BY THE CITY COUNCIL OF THE
CITY OF BOYNTON BEACH, FLORIDA:
Section 1: That the City of Boynton Beach, Florida, is
hereby authorized to accept the transfer of all funds now held
by the Atlantic National Bank of West Palm Beach, West Palm
Beach,Florida, which said Bank is holding as co-paying agent
for the payment of any remaining unpaid City of Boynton Beach
1961 Series A&B Water and Sewage Bonds, and that the City shall
thereupon assume the responsibility of payment of any remaining
unpaid bonds thereunder.
Section 2: That the said City shall hold such funds in
the City's Utility General Fund, and that the said City shall
maintain an appropriate reserve for payment of the matured bonds
still outstanding.
PASSED AND ADOPTED this /~ day of April A.D 1974.
ATTEST:
City Clerk
CITY OF BOYNTON BEACH
By
FLORIDA
7or
Vice Mayor.
Counc~an
Coun c i lman
CO un c i lman