82-TTTRESOLUTION NO ~-~~
RESOLUTION OF.THE CITY OF BOYNTON BEACH,
FLORIDA RATIFYING ALL ACTIONS HERETOFORE
TAKEN BY THE CITY COUNCIL OF THE CITY OF
BOYNTON BEACH, FLORIDA WITH RESPECT TO THE
ISSUANCE OF $4~000,000 CITY OF BOYNTON BEACH,
FLORIDA (PALM BEACH COUNTY, FLORIDA) RECREA-
TIONAL FACILITIES REVENUE BONDS (SERIES 1982);
AND PROVIDING PURSUANT TO SECTION 218.385(1),
FLORIDA STATUTES, SPECIFIC FINDINGS AS TO
THE REASONS REQUIRING THE NEGOTIATED SALE OF
SUCH BONDS, DETERMINED BY THE CITY COUNCIL
TO BE IN THE BEST INTERESTS OF THE CITY OF
BOYNTON BEACH, FLORIDA IN RESOLUTION NO.82-EEE,
ADOPTED ON SEPTEMBER 8, 1982.
WHEREAS, The City Council (.the "Council") of the
City of Boynton Beach, Florida (the "Issuer") has pre-
viously (a) approved the issuance of $4,000,00-0 City of
Boynton Beach, Florida (Palm Beach County) Recreational
Facilities Revenue Bonds, Series 1982 (the "Series 1982
Bonds"), pursuant to Resolution No. 82-M, adopted by the
Council on February 17, 1982, as amended by Resolution No.
82-W, adopted by the Council on March 16, 1982 (collectively,
the "Resolution"), (b) (i) accepted a Contract to Purchase
such Series 1982 Bonds, dated September 8, 1982 (the "Pur-
chase Contract"), by and among the Issuer and Florida Muni-
cipal Securities - Henderson, Few & Co. and William R.
Hough & Co. (the "Underwriters") and (ii) awarded such Series
1982 Bonds to the Underwriters, pursuant to Resolution No.
82-EEE, adopted by the Council on September 8, 1982, deter-
mining that a negotiated sale of the Series 1982 Bonds is in
the best interests of the City, and (c) fixed the details of
the Series 1982 Bonds pursuant to Resolution 82-FFF, adopted
by the Council on September 8, 1982; and
WHEREAS, the Issuer, pursuant to Section 218.385(1),'
Florida Statutes, as amended, is required to set forth
specific findings requiring that the Series 1982 Bonds be
sold by negotiated sale;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF BOYNTON BEACH, FLORIDA:
Section 1. All action heretofore taken by the Council
at its meetings held on February 17, 1982, March 16, 1982
-and September 8, 1982, including, but not limited to, the
adoption of a resolution entitled
"A RESOLUTION ACCEPTING THE PURCHASE CONTRACT
WITH FLORIDA MUNICIPAL SECURITIES - HENDERSON,
FEW & CO. AND WILLIAM R. HOUGH & CO.; AWARDING
$4,000,000 CITY OF BOYNTON BEACH, FLORIDA
(PALM BEACH COUNTY, FLORIDA) RECREATIONAL
FACILITIES REVENUE BONDS, TO BE ISSUED BY
THE CITY OF BOYNTON BEACH, FLORIDA; SPECI-
FYING THE INTEREST RATE OF EACH OF SUCH BONDS
AND DIRECTING THE DELIVERY OF SUCH BONDS
TO OR UPON THE ORDER OF THE PURCHASERS HEREIN
SET FORTH, ALL AS PROVIDED FOR IN SECTION 206
OF RESOLUTION NO. 82-M ADOPTED ON FEBRUARY 17,
1982, AS AMENDED BY RESOLUTION NO. 82-W,
ADOPTED ON MARCH 16, 1982; APPROVING THE
PRELIMINARY OFFICIAL STATEMENT AND THE OFFI-
CIAL STATEMENT AND AUTHORIZING EMPLOYEES AND
OFFICIALS TO TAKE ACTION AS REQUIRED IN CON-
NECTION WITH THE ISSUANCE OF THE BONDS,
INCLUDING OBTAINING BOND INSURANCE"
is hereby ratified, approved and confirmed.
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Section 2. Pursuant to Section 218.385(1)-, Florida
Statutes, as amended,~.the Issuer,-hereby-determines that
the negotiated sale of the Series 1982 Bonds is in the
best interests of the Issuer° Such determination-is based
upon evidence it has received that., under prevailing market
conditions, there is a limited public market for-bonds of the
character of the Series 1982 Bonds, and thus the sale of the
Series 1982 Bonds through negotiations is necessary to assure
that the Series 1982 Bonds will be actively marketed, thereby
producing the best possible terms obtainable.
PASSED A'ND ADOPTED by the City COuncil of the City of
Boynton Beach, Florida on this~/~day of September 1982
ATTEST
DeDuty~ty Clerk
OFFICIAL SEAL
Vice Mayor
C 0~n~~ Member~/~ //
Council Member
ouncl~ Member
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