O85-05ORDINANCE NO. 85- ~
AN ORDINANCE OF THE CITY (IYJNCIL OF ~
CITY OF BOYNTON BEACH, FLORIDA,
ALFII4ORIZING THE ISSUANCE, SUBJECT TO THE
ELECTION HEREIN PROVIDED FOR, OF NOT
EXCEEDING $2,150,000 BONDS OF ~HE CITY OF
BOYNTON BEACH, FLORIDA, FOR PROVIDING
~W3NDS, FOR PAYING ~ COST OF DEVELOPING
PARK AND RECREATIONAL FACILITIES IN THE
CITY OF BOYNTON BEACH, CONSISTING OF
IMPROV~94ENTS AT CONGRESS AVENJ3E ~TY
NORTHWEST SEVenTEENS1 AV~JE COH~JNITY
CONNECTION THEREWITH; AND DECLARING THAT
~IATELY UPON ITS ADOPTION.
WHEREAS, it is necessary that the City of Boynton Beach develop
park and recreational facilities in the City of Boynton Beach, con-
sisting of improvements at Congress Avenue Cc~nunity Park, Wilson
Recreational Center and The Northwest Seventeenth Avenue C~mm~nity
Center, together with any equi~ent and furnishings necessary or
desirable in connection therewith; and
~EREAS, to pay all or a part of the cost of the above, it is
necessary to issue the bonds of the City as hereinafter provided.
klDW, ~HEREFORE, BE IT ORDAINED BY THE CITY (IN3NCIL OF ~ CITY
OF BOYNTON BEACH, FLORIDA:
Section 1. For the purpose of providing funds, together with
any other available funds, for paying the cost of developing park and
recreational facilities in the City of Boynton Beach, consisting of
improvements at Congress Avenue Cxm~unity Park, Wilson Recreational
Center and The Northwest Seventeenth Avenue Cc~munity Center, together
with any equipment and furnishings necessary or desirable in connection
therewith, there shall be issued, subject to the election hereinafter
provided for bonds of the City of Boynton Beach, Florida, in an aggre-
gate principal amount not exceeding two million, one hundred fifty
thousand dollars ($2,150,000), maturing at such time or times not
exceeding thirty (30) years from their date or dates as may be deter-
mined by the City Council, and bearing interest at a rate or rates not
exceeding the maximum rate then permitted by law, and to be payable from
unlimited ad valorem taxes.
Section 2. A special election is hereby called to be held on
March 12, 1985, in conjunction with the regular municipal election to be
held on such date, for the purpose of submitting to the qualified elec-
tors of the City the question whether such bonds shall be issued.
Section 3. This Ordinance shall be read in full at two
separate meetings not less than ten (10) days apart and shall at least
seven (7) days prior to its passage on second reading be noticed once in
a newspaper of general circulation in the City of Boynton Beach, which
notice shall state the date, time and place of the meeting at which this
Ordinance, will be passed on second reading, the title of this
Ordinance, the place where this Ordinance may be inspected by the public
and shall also advise that interested parties may appear at said meeting
and be heard with respect to this Ordinance.
Section 4. This Ordinance shall take effect immediately upon
its adoption.
FIRST READING this ~ day of ~O~. U-~ ,?~f , 1985.
SECOND READING and FINAL PASSAGE this /5~//day of
~ , 1985.
CITY OF BOYNTON BEACH, FLORIDA
(Corporate Seal)
C~cil Member
~6i~ Member
/'CounWii ' Member