R02-030 RESOLUTION NO. R02- O 1~O
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORDA, APPROVING
AND ACCEPTING A LETTER OF CREDIT DATED
SEPTEMER 18, 2001 AND AMENDMENTS THERETO
DATED OCTOBER 18, 2001 AND JANUARY 24, 2002,
SUBMITTED FOR THE PROJECT KNOWN AS VILLAS AT
QUANTUM LAKES, BY FIRST UNION NATIONAL BANK
(LETTER OF CREDIT NO. SM418453C) IN THE AMOUNT
OF $279,734.77; AND PROVDING AN EFFECTIVE DATE.
WIIEREAS, the City Commission of the City of Boynton Beach, upon
· ecommendation of staff, does hereby accepl the above referenced Letter of Credit in the
mount of $279,734.77 as surety for water and sewer systems to serve project known as
Villas at Quantum Lakes.
NOW, THEREFORE, BE IT RESOLVED BY TIlE CITY COMMISSION OF
TIlE CITY OF BOYNTON BEACII, FLORIDA, THAT:
Section 1. The City Commission of the City of Boymon Beach, Flor/da hereby
approves and accepts a Letter of Credit for the project known as Villas at Quantum Lakes,
and issued by, First Union Bank (Letter of Credit No. SM418453C) in the mount of
3279,734.77 as surety for water and sewer systems to serve the above project.
Section 2. That this Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this
EST: .
Clerk
day of February, 2002.
CommisSioner