70-LRESOLUTION NO. 70-_~___
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BOYNTON BEACH, FLORIDA, that:
Section 1: The second paragraph of Resolution 70-F, adopted by
the City Council of the City of Boynton Beach, Florida, on March 16, 1970,
is hereby amended to read:
"WHEREAS, the City has received an offer to purchase such bonds
at the price of $784, 880.00 and accrued interest to the date of delivery
from William R. Hough & Co., SL. Petersburg, Florida; and received the
following proposal in writing (such proposal being attached and made a part
of this resolution) for the purchase at private sale of such Water and Sewer
Revenue Bonds."
Section 2: All other provisions of said Resolution 70-F shall
remain in full force and effect as enacted.
Section 3: This Resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED this ~%--day of ~]~
CITY OF BOYNTON BEACH,
· A.D. 1970.
FLORIDA
ATTEST:
City Clerk
CORP. SEAL
Mayor
Vice Mayor
Councilman
O ' O
Feb~__~*St 16,1970
City of Boynton Beach, Floi, lda
Boynton Beach, Flor&da
Dea~ MPs. Jackson and other Mm~em of
the City Council:
Pursuant to the terms of ou~ investment banking agreen~t, we a~-e pleased to make
following offe~ to pLm~ase you~ recently validated bonds'.
!
For the $800,000 pa~ value of the City of Bo~nton Beach Wate~ and Sewe~ Revenue
B~ds, Series 1969 described more f,!ll¥ in ~ attached offle/al staten~t which
state--ut is made a pa~t of this offe~ by ~_fea~ce, w~th ar~l intexest ~ates
and interest payable semi-annually as specified below:
Bonds maturing 1970 through 1977
Bonds maturing 1978 ~
Bonds mtu~ing 1979
Bonds mt%ming 1980 through 1981
6.50 %
6.30%
6. q0%
6.50%
We offer to pay the aggregate s~n of $78b,880~00 and accrued interest
to date of delivery.
'Deliver~ and payment shall be made at a time and place mutually agmeed upon
but not late~e than ~r~l 1, 1970 or thereafte~ at ou~ option.
The paying agent and rese~Tve a¢countbank o~ banks, provided for the bonds shall be
designated by us within 72 hour~ after aceeptanee of this offe. P.
The bonds shall beaa~ the unqualified approval as to legality of Messr~ B~yan~
Preeman, Richalxlson and Watson, Attorneys Jacksonville ~ Gene Moore III,City
Attorney of the City of Boyn~on Beach. "~:~
The City Shall adopt the attached official statement and ~.utho~ize its execut~
by the Mayor and City Clerk and authorize and direct the _-.~ity administmation
take all necessary steps to effect a closing of the t~ansgction within a
reasonable time. i'~'
As evidence of ou~ good faith we will delive~ a eashier's .check in the amount
$16,000 to the City by noon Febxuax~ 17,1970 as fi~] liqUida~in£ damage~ in
event of o~m non-perfomance and an award of the sale of ~he bonds to
us shall be so c~ditloned.
This offe~ is for pronpt acceptance and will be withdrawn at '.~ ~
Febz~azy t? ·/f~ if not accepted at cm p~io~ to that time.