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O#137ORDINANCE NO. AN ORDINANCE 0P THE T0~%~ 0P BOYNTON, PALM BEACH COUNTY, FLORIDA, TO AUTHORIZE THE ACC~TANCE AND EECHANGE OF BONDS OR DELINQUENT INTEREST COUPONS OF THE T0~ 0F BOYNTON AT PAR IN REDEMPTION OF 'LANDS PROM TAX SALES AND IN PAYMENT 0F OTHER EVIDENCES OF DELINQUENT TAXES DUE THE T0~ OF BOYNTON. BE IT ORDAINED BY THE TOV~ CO~MISSION OF THE TOW~N 0P BOY~W20N, PAI~ BEACH COUNTY, FLORIDA: 1. That the Town Con~uission of the Town of Boynton, Florida~ Deems it necessary and advisable for the peace, health and safety of the iD~abitants of the said Town~ and the general welfare thereof, that it take advantage of the powers conferred upon i~ by Chapter 18~51 (No. ~9~), General Laws of Florida, 1935, the same being House Bill No. 766 i, "~AN ACT to authorize the acceptance and exchange of bonds or Delinquent Interest Coupons, or other Delinquent Obligations of Counties,. Distr~cts, Municipat!ities, at par~ in redempt!on of lands from Tax Bales and in pay~n$ of other evidences of Delinquent Taxe~ due to same. Be it Enacted by the Legislature of the State of Florida: Section 1. That the governing board or Board of County ~ommissioners~ or other constituted authority of each county, dis- trict or municipality in this State sD~ll have the right to provide by resolution that bonds, delinquent interest coupons, or other due or past due obligations of ~uch counties, district or municipalities shall be~ receivable at par in the redemption of lands within such counties, districts or municipalities from tax sales for unpaid taxes provided that such unpaid t~xes were levied for the year~193~ and any or all prio~ years and tax certificates were issued and are held by the state o~ by the County, District or Municipalities subject to redemption. SeCtion 2. Any resolution adopted under this Act shall provide for the cancellation and satisfaction of the unpaid tax certi- ficate or other evidence of tax lien in exchange for the transfer and ae_ivery by the delinquent tax payer of an equivalent amount of bonds of the County, District or municipality in Which the lands to be deemed shall lie, which equivalent amount of bonds shall be received, accepted and held by the proper cUstodian in exchange for the cancellation, satisfaction and surrender of the tax certificates or evidence of tax lien for which the same was received ~and accepted, and such bonds interest' coupons or other due or past due obligations for which the exchange was made sh~ll thereafter be held and consti- tute an asset of the County~ District or Municipalities in lieu of and in substi- tution of the tax certificate or other evidence of tax lien cancelled~ surrender- ed or satisfied in exchange therefor. A complete record of all such bonds~ interest coupons and other evidences of debt taken in under this Act shall be kept, and said bonds', interest cou- pons and other evidences of debt on hand at any time under this. Act sb~ll constitute an asset in trust held by the custodian thereof for the use and benefit of the State, County, District~ or Municipality for whose taxes the same was accepted in exchange, and the interest of each shall exist in such asset in the proportion that the taxes of each thereby bore to the whole~ tax represented by the Tax Certificate or other t~x liens. SECTION 3. All bonds acquired and held under'this Act s~ll be'held with the matured and unmat~red interest coupons thereof left intact thereon during the time such bonds are held, and all other evidences of indebtedness acquired u~der this Act and thereafter held, shall bear ~o interest du~ing the time they are so held. SeCtiOn 4.' It is hereby declared to be the purpose and ~nten of this Act to pro vide for the converSf0~of the delinquent and unDaid tax certificates ~nd othe~ evidences of tax liens hereinabove mentioned, into outstanding u~.patdbonds, interes~t coupons and other evidences of indebtedness for the payment of Which a tax would be levied or collected on the lands~ the taxes, on which are so converted, thereby sub- stituting such bonds, delinquent interest coupons and other evidences o~debt for said unpaid tax certificates or other evidences of unpaid taxes and in order that the lands in question may be dis- charged from delinquent tax liens and thereby made able to bear current taxes and that the County, District or Municipality may acquire bonds, interest coupons and other evidence's of debt to be held in lieu of unpaid tax certificates and evidences of unpaid taxes and this Act shall be so construed. Section 5. The word ~district" as used in this Act sh~ll be understood to apply to any taxing district, including drain- age and sub-drainage districts, whether in one County or more than one, and re- gardless of its nature or how created or constituted. Section 6. The provisions and remedies herein provided shall be cumulative and in addition to any other t_~t may be pro- vided by law. Section 6-A. Provided that no taxes due the State of Florida can be paid with such bonds. All taxes due the State by reason of State millage shall be paid in Cash. Section V. All bonds, intereat ceupons or other evidences of debt acquired and held under this Act bY any County or Dis- trict, shall be within thirty days there- after forwarded to the State Treasurer who shall keep and hold same for the ac- count of the parties in interest, as custodian thereof. Municipalities shall by resolution designate some appropriate custodian to act in that cap~city with reference to municipa~ bonds. Section 8. All laws or parts of law in conflict with this ACt are hereby repealed. Section 9. This Act sh~ll take effect upon its becoming a law. Approved May 31, 1933.w 2. That the Tax Collector of the TOwn 'of Boynton, Florida, be, and he hereby is, authorized to accept Bonds or Delinquent Interest Coupons, or other Delinquent Oblig- ations of the Town of B0ynton, Florida, at par, in redemp- tton of lands in said Town from tax sales for unpaid taxes provided that such unpaid taxes were levied for the year 1930 and any or all prior years and tax certificates were issued and are held by the said TOwn subject to redemption, .provided further that all ~npaid taxes levied for the years subsequent to the year 1930 are ~aid in cash, or as other- wise provided in tb~s Ordinance, at the same time as Bonds, or Delinquent Interest CoUpons,.or other Delinquent Oblig- ations of the Town of Boynton, Florida, are tendered in redemption of lands in said town from tax sales for unpaid taxes levied for the year 1930 and any or all prior years. 3. That the Tax Collector 'of the Town of Boynton~ Florida, be, and he hereby is,'authorized to accept BondS, or Delinquent interest Coupons, or other Delinqu®nt Oblig- ations of the Tom~ of Boynton, Florida, et par, in redemp- tion of lands in said Town from tax sales for unpaid taxes~' levied for the years 193! and 193~ in the following manner, bo-wit :. Fifty per cent (5'0%) of the amount of the tax levied for the year 1931 and/or'~1932 may be paid with Bonds or Delinquent Int- erest Coupons, or other Delinquent Oblig- ations of the.Town of BoyntOn, Florida~ at par, proVided, ~oweve~, the remaining fifty per cent (50%) of the amount of the tax levied fo~ the year 1931 ~nd/or~ 1932 is paid in Cash, and provided further that all unpaid taxes levied subsequent to the year 1932 is paid in cash at the same time. 4. That the Tax Collector of the Town of Boynton Florida, be, and he hereby is, authorized and directed to cancel the unpaid tax certificates or other evidence of tax lien which may be redeemed by the~ransfer and delivery by'the delinquent tax payer of any equivalent amount of Bonds. Delin~sent Interest~Coupons, or other Delinquent Obligations of the Town of Boy,ton, Florida, as provided~by this Ordinance, and deliver said cancelled t~ certificates to the delinquent tax payer together with an of Dicial Delinquent Tax Receipt evidencing such payment. 5. The Treasurer of the TOwn of Boynton~ Florida~ be, and he hereby~is, designated as the custodian to keep and hold all~ bonds, interest coupons or obher evidences of debt acquired and held under this Ordinance. 6. Ali ordinances or parts' of ordinances inconsistent or in conflict with the provisions of this ordinance, be and the same are hereby repealed. 2¢~ayor Vice Mayor To~ Clerk.