R02-072
RESOLUTION NO. R02- oj ~
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, APPROVING
AND ACCEPTING A LETTER OF CREDIT SUBMITTED
FOR THE PROJECT KNOWN AS HYPOLUXO POINT,
AND ISSUED BY COLONIAL BANK (LETTER OF
CREDIT NO. SB 992081) IN THE AMOUNT OF $80,000.00;
AND PROVIDING AN EFFECTIVE DATE.
WHERJi:AS, the City Commission of the City of Boynton Beach, upon
recommendation of staff, does hereby accept the above referenced Letter of Credit in the
amount of $80,000.00 as surety for the satisfactory completion an done-year operation of the
sanitary sewer system for the project known as Hypo1uxo Point.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The City Commission of the City of Boynton Beacp, Florida hereby
approves and accepts a Letter of Credit for the project known as Hypo1uxo Point, and issued
by Colonial Bank, (NO. SB 992081) in the amount of $80,000.00 as surety for satisfactory
completion an done-year operation of the sanitary sewer system for the project known as
Hypo1uxo Point.
Section ,2,
That this Resolution shall become effective immediately upon passage,
PASSE]) AND ADOPTED this ~ day of May, 2002.
Vice Mayor
~S:i:n~