85-KKRESOLUTION NO. 85-KK
RESOLUTION PROVIDING FOR THE ISSUANCE OF
$1,100,000 CITY HALL BONDS OF THE CITY OF
BOYNTON BEACH, FLORIDA.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BOYNTON BEACH, FLORIDA:
Section 1. It is hereby found and determined that:
(a) The City Council on January 15, 1985, duly
adopted Ordinance No. 85-3 authorizing the issuance, subject
to the election therein provided for, of bonds of the City
of Boynton Beach, Florida, in an aggregate principal amount
~not exceeding $1,100,000 bonds of the City of Boynton Beach,
Florida, for providing funds, together with any other
available funds for paying the cost of renovating the City
Hall in the City of Boynton Beach, and constructing parking
facilities to serve the City Hall, together with any equip-
ment and furnishings necessary or desirable in connection
therewith: and Ordinance No. 85-7 providing for the holding
of a special bond election on March 12, 1985, for the pur-
pose of submitting to the qualified voters of the City of
Boynton Beach the question whether said $1,100,000 bonds
should be issued.
(b) Said election was duly conducted and the
returns thereof were duly and regularly canvassed and cer-
tified and the City Council has accepted the certification
of the Palm Beach County Canvassing Board and declared the
results of said election and caused the same to be recorded
in its minutes all as provided by law, and it appears from
the returns of said election that more than a majority of
the qualified voters of the City of Boynton Beach voting
thereon voted in favor of issuing said $1,100,000 bonds by a
vote of 2,845 for and 1,997 against the said bonds.
Section 2. For the purpose of providing funds,
together with any other available funds, for paying the
cost of renovating the City Hall in the City of Boynton
Beach and constructing parking facilities to serve the City
Hall, together with any equipment and furnishings necessary
or desirable in connection therewith, as set forth in said
ordinance No. 85-3, there shall be issued general obligation
bonds of the City of Boynton Beach, Florida, in the aggregate
principal amount of $1~100,000. Said bonds may be issued at
one time or in series from time to time, shall be dated,
shall be designated, shall be in the denomination of $5,000
each or any multiple thereof, shall be numbered, shall bear
~ ........ ~ ~ =annually,
~=~t, ~l= semi from ~-~=~ ~=~ ~- dates
until their payment at a rate or rates not exceeding the
legal rate, as shall be determined at the time of sale
thereof~ shall be stated to mature (subject to the right of
prior redempti6n, if any) at such time or times not exceed-
ing thirty (30) years from their date or dates, may be made
redeemable prior to their maturity date or dates and may be
consolidated for purposes of sale and issuance with all or
any of the bond issues approved at the March 12 'referendum
as a consolidated issue of "General Obligation Bonds' (Series
1985)" and subject to such other conditions, all as shall be
determined by the City Council of the City of Boynton Beach
by resolution adopted prior to the issuance of said bonds or
any series thereof.
Both the principal of and the interest on said
bonds may be payable at a bank or trust company, in the
Borough of Manhattan, City and State of New York or, at the
option' of the registered owner, at a bank or trust company,
in the State of Florida, in any coin or currency of the
United States of America which, at the respective dates of
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payment thereof, is legal tender for the payment of public
and private debts.
Section 3. Said bonds shall be signed by or bear
the facsimile signature of the Mayor of the City of Boynton
Beach and shall be signed by or bear the facsimile signature
of Clerk of the City of Boynton Beach and a facsimile of the
official seal of the City of Boynton Beach shall be imprint-
'ed thereon. In case any officer whose signature or a fac-
simile of whose signature shall appear on any bonds shall
cease to be such officer before the delivery of such bonds,
such signature or such facsimile shall nevertheless be valid
and sufficient for all purposes the same as if he had remain-
ed in office until such delivery. Said bonds shall be
substantially in the form established by resolution of the
~u3 Council to be adopted prior to the sale of ~ne ~onas~ ....
Section 4. Said bonds shall be issuable solely as
fully registered bonds without coupons and shall be subject
to transfer in accordance with the provisions for such
registration and transfer established by subsequent resolu-
tion of the City Council.
Section 5. For the prompt payment of the princi-
pal of and the interest on said bonds as the same Shall
become due, the full faith, credit and taxing power of the
City of Boynton Beach are hereby irrevocably pledged.
Section 6. As provided by said Ordinance No. 85-3,
both the principal of and the interest on said bonds are
payable from unlimited ad valorem taxes to be levied annual-
ly on all taxable property within the City of Boynton Beach,
which taxes are to be levied and collected at the same time
and in the same manner as ad valorem taxes levied for oper-
ating expenses of the City of Boynton Beach and are to be in
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addition to all other taxes authorized to be levied by the
City of Boyn~on Beach°
Section 7. This resolution shall take effect
immediately upon its adoption.
PASSED AND ADOPTED by the Ciy Council of the City
of Boynton~Beach, Florida this 18th day of June, 1985.
Mayor
Council Member
Attest:.
ity Clerk
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