05-01-61b RESOLUTION
WHEREAS, the CITY OF BOYNTON BEACH, FLORIDA~ has
heretofore authorized the issuance of $120, 000. 00 in General Obligation Bonds
of said City for the purpose of financing the cost of construction of a muni-
cipal swimming pool and other purposes necessary or appurtenant thereto;
and
WHEREAS, said bonds have heretofore been validated by the
Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County,
Florida, by Decree dated April 12, 1961; and
WHEREAS, in connection with the sale of subject bonds it is
deemed for the best interest of the City that same be sold on a competitive
bid basis, and in connection therewith that notice of said sale and competitive
bidding be advertised,
NOW, THEREFORE, be it RESOLVED by the City Council of the
City of Boynton Beach, Florida:
1. That the Clerk of the City of Boynton Beach, Florida, is
hereby instructed to publish copies of the attached Notice of Sale relative the
above referred to bonds in the BOYNTON BI'ACH NEWS once a week for two
consecutive weeks prior to the date fixed for receipt of bids and further,
that the final date and time for the submission of bids in connection with said s:
is hereby set for ~'oo P.M. (E.S.T.)onthe ~,~ day of Oq~Yy ,
A. D. 1961. The Clerk is also instructed to arrange for advertisement
relative said sale in "The Bond Buyer, New York City, N.Y."
PASSED and ADOPTED this 1st day of May, A. D. 1961.
(CORPORATE SEAL)
ATTEST:
CITY OF.~;~OY~ 0 B~ LORIDA.
Councilman
--~ ~? .,,/ CounCilman
Councilman
f'~-~uncilman
-2-
NOTICE OF SALE
$120,000
CITY OF BOYNTON BEACH, FLORIDA
SWIMMING POOL BONDS
SERIES E
Sealed proposals will be ·
~e ~;3~ of $oynton Beach .... received by the · - -
A, 1961. until 3' co o, council or
y~ one Hundred ~,~+~ ~,_ ~= u~y Hal~ ~ --'- clock, P
~a~o~ of ~wimming Pool ~^~ ~ars ($120_O0n% ~_~' ~9~ purchase
~,uuu each, dated S~ff~~*u~ Series E_ in ~ ~ ' ·
~ ~/ ~sgregate principal
numerica ~_ F~u~moer 1, 1960 ind 3~ ~enomination of
years 1 ~.u~, on September i of e~ch .._~tu~lng serially, in
1961 to 1912, inclusive. "J=~r, ~10,000 in each of the
Said Bonds will be issued in coupon form With the privilege
of registration as to Principal only or as to both Principal and in-
terest. Principal and semi-annual interest (March i and September
Will be payable at the First Bank of Boynton Beach, Boynton Beach,
FlOrida, or, at The Chase Manhattan Bank, New York, New York, at the
option of the holder.
The Bonds w'
specified b~ *~^ ~ .... 111 bear interest at
Jr%). per annum and +- ~' ~o named rate + .... or rates to be
owen~ieth (1/2n% i~"° oe.~n a multi~ %% =xceee five per
rates ce ~2~ ~/~°~ one (1] ~e .... f~= o~ one-eimht~ ~zo~ ....
matu~+l ~ao?rest may be's%=f~n°um. Not morX +~Y7 or. one-
~=~i-li~ mus~ bear the ~__~~=u and all o~ *~ ~"=U onree
~o~ ~nan all ce ~- ~ o~uc Single fa+= ~ .~.~= monGs of cng
ce less +~- ~ ~= ~onds Will ~^ - ~ ?z interest. ~, ....
._ ~. ~ par a~ ..... ~= acceote~ ~ ~,~ olG8 for
~u one bidder wh~~ ~ucrueG interest '~'~ ~ Price bid
~ a. ~c,.~ one ~ ....... "~ ~c awarded
~u~st net interest cost to
the City. Such lowest
lng the a r net interes
gg egate am ~ t cost w'
the several . cunt minteres ~11 be determ-
and deduc~a~rmty dates of *~- ~ cgmputed from ~o~^,~ed_b~ tak-
e.~-~,,, one amount o* *~^ e. rat~ or rate~
In ..... - ~',= premium offere~ y~op~ciriem
by a ce~a~^~~uer to be cons~d^~ ~, ~ any.
corn~=~i~-~=u or cashier,~ ^2~-=u, each bid m~* ~-
o~ Boynton Be~o~ -~Y~u~9 Company. n~~°~un~cK arawn u~'-_3-U
or the ~ar .... rmda, mn a .... ~o the order ^~ ~- n-
of the ~^~e_o~ the Bonds h~un~_equal to two ~[~_~n? 9ity
other ch~:~ bidder Will b~,?~'ered for sale~~nt. (2%)
~ wm±A be ret, .... ~ · :~p~me~ on the ...... ' ~ check
Bonds No interest Will be allowed upon the good faith deposit of
~z~U iR1TRe · ~u~c~ase r'
' dmately u on ~ .... P_mce. Ail
P t..~ :warm or the
the successful bidder.
cost of co~'~ uction of a mu · · ·
rB°~ds will be issued for the pur ose
necessary, a ur . nmcmpal s · · P of fmnan ·
PP tenant or mncidam,~, ~mmmng pool ~ -~- c~ng the
both Prmncmpal and interes ...... ~ ~nere n ..... ~..~.ooner mu
stitution and Statutes of t~, wu~sua t ~ ,~
· · the State of FlOrida and are payable as to
t from and Secured by a direct annual tax,
Without limitation as to rate or amount, upon all the taxable property
Within said City, sufficient to pay Such principal and interest as the
Same mature and become due.
The Bonds have been validated by the Circuit Court of
Palm Beach County, Florida, and the approving opinion of Caldwell,
Marshall, Trimble & Mitchell, Attorneys, of New York City, New York,
will be furnished to the purchasers Without charge.
The City of Boynton Beach, Florida, reserves the right to
reject any and all bids and any bid not COmplying With the provisions
hereof will be rejected.
Beach, Florida