O#850RDINaNC~ NO. 85
AN ORDINANCE 0F THE TOWN 0F BOYNTON, PAL~ BEACH COUNTY,
FLORIDA, FIXING T~KE AGGREGATE A~0U~ OF A PROPOSED ISSUE
OF BONDS OF SAID T0~¥N IN THE S~ OF $60,000.00 TO BE
ISSUED BY THE T0~i~ OF BOY~TON, FLORIDA; FIXING THE DE-
NOmINATiON OF SAID BONDS AND PLACE OF PAYmeNT THEREOF;
PROVIDING FOR SAiD BONDS TO BE COUPON BONDS, FIXING THE
RATE OF INTEREST THEREON; T~E PURPOSE FOR WHICH THE
~0NEYS TO BE DERIVED THE~FR0~ SHALL BE EXPENDED: FIX-
i~G THE DATE ~EN SAID BONDS SHALL BE PAYABLE; PROVID-
ING FOR AND CRF~TING A SINKING FIRED .~d~D INTEREST ASSESS-
MENT FOR I~EETiNG AND DISCP~RGING THE PRinCIPAL ~hrD IN-
TE~ST OF SAID BONDS; PRESCRIBING THE FOR~i AND DENOMINA-
TION OF SAID BONDS; PROVIDING FOR A BOh~D OF THE TREASU-
RER, ITS A~OUNT., CONDITIONS AND APPROVAL; PROViD~G FOR
A SEPAP~:~TE ACCOUNT OF EACH BOND ISSUED, SHO~;~NG T~HE
NU~ER AND A~0UNT OF BONDS iSSUED, THE RECEIPTS THERE-
FROM ~ND ~VHE DISBURSE~NTS OF THE PROCEEDS THEREOF.
~ERF~S, the Totem Commission of the Town of Boynton,
~V
Palm Beach Coun,~, Florida, deems it necessary, advisable
and to the best interests of the said Town of Boynton and
the inhabitants thereof to issue bonds of said to~ in the
aggregate amount of sixty thousand dollars ($60.000.00)
for the purposes hereinafter named;
NOW THEREFORE, BE iT 0RDAI)~ED by the Town Comrmission
~o in Palm Beach County, Florida,
of the Town of Boyn~ n,
as follows:
Section 1. That the Town Commission of the Town of
Boynton Palm Beach County, Florida, deems it necessary,
advisable and to the best interests of said town and the
inhabitants thereof to issue bonds of said town in the
total aggregate amount of sixty thousand dollars (~80,000.00)
for the purpose of constructing, extending and improving
a system of sewers within and for said town.
Section ~. That said bonds shall each be in the
denomination of one thousand dollars ((~1,000,00) and
shall be numbered from one (1) to sixty (80) both in-
clusive; that said bonds shall be signed by the
Commissioners and countersigned by the Treasurer of
the said Town of Boynton, Palm Beach County, Florida;
that said bonds shall bear interest coupons to be
signed by the fac-simile signature of the Treasurer
of the said Town of Bo~.aton, Palm Beach County, Florida;
that said bonds shall bear interest at the rate of 6%
per annum, payable ssmi-annually on the first days of
April and October of each and every year, contmencing
on the first day of April, A. D. 1928, and that the
p~incipal and interest of said bonds shall be payable
in Gold Coin of the United States of America of the
present standard of ~' '~
~elont and fineness at the Sea~hoard
National Bank in the City of A~ew York, State of New York,
or at the office of the Town Treasurer of the To%vn of
Boynton, Palm Beach County, Florida, at the option of
the holder thereof.
Section $. That said herds shall bear date of
October t, A. D. 19~7 and shall be payable in numerical
order as follows:
Bonds numbered 1 and ~ in denomination of $t000.00
each, to become due October !, 1932;
Bonds numbered ~ and ~ in denomination of ~t000.00
each, to become due October i, 1955;
Bonds numbered 5 and 6 in denomination of $!000.00
each, to become due October t, 195~;
Bonds numbered 7 and 8 in denomination of ~1000.00
each, to become due October 1, t9~5;
Bonds numbered 9 and 10 in denomination of ~1000.00
each, to become due October 1, 1936;
Bonds numbered !1, 12 and 13 in denomination of
$1000.00 each, to become due October 1, 1937;
Bonds numbered 14, 15 and 16 in denomination of
$1000.00 each, to become due October l, 1938;
Bonds numbered 1V, 18 and 19 in denomination of
$1000.00 each, to become due ~c~ober l, 1939;
Bonds numbered 20, 21 and 22 in denomination of
$1000.00 each, to become due October l, 1940;
Bonds numbered 23, 24 and 25 in denomination of
~lO00.O0 each, to become due October l, 1941;
Bonds numbered:[.26, 2V and 28 in denomination of
$1000.00 each, to become due October l, 1942;
Bonds numbered 29, 30 and 31 in denomination of
$1000.00 each, to become due October l, 1943;
Bonds numbered 32, 33 and 34 in denomination of
~lO00.O0 each, to become due October l, 1944;
Bonds numbered 35, 36 and 37 in denomination of
$1000.00 each, to become due October l, ~945;
Bonds numbered 38, 39 and 40 in denomination of
~lO00.O0 each, to become due October l, 1946;
Bonds numbered 41, ~2 and 43 in denomination of
$1000.00 each, to become due October l, 1947;
Bonds numbered 44, 45 and 48 in denomination o£
$1000.00 each, to bec mm. e due October l, 1948;
Bonds numbered 4V, 48, 49 and 50 in denomination of
$1000.00 each, to become due October l, 1949;
Bonds numbered 51, 52, 53, 54 and 55 in denomination
of $1000.00 each, to become due Dctober l, 1950;
Bonds numbered 56, 57, 58, 59 and 60 in denomination
of $1000.00 each, to become due October l, 1951;
Section 4. That there shall be levied, assessed
and collected in each year while said bonds, or any of
them, are outstanding and unpaid, and at the same time
and in the same manner as other taxes are 'levied, assessed
and collected, a special tax in addition to all other taxes
levied upon all the taxable property, both real and perso-
nal, within said Town to realize a sum sufficient to
meet and discharge the interest on said bonds as the
same become due and also a sufficient amount to provide
for a Sinking Fund for the payment of the principal of
said bonds at maturity, that is, such taxes shall be
levied, assessed and collected during the years speci-
fled as follows, to-wit:
For the year 1927
For the year 1928
For the year 1999
For the year 1930
For the year 1931
For the year 1939
For the year 1933
For the year 1934
For the year 1935
For the year 1936
For the year 1937
For the year 1938
For the year 1939
For the year 1940
For the year 1941
For the year 1942
For the year 1943
For the year 1944
For the year 1945
For the year 1946
For the year 1947
$3600, O0
3600.00
3600°00
3600.00
5600,00
5480. O0
5360. O0
5240.00
5120. O0
6000.00
5820, oo
5640
5460.0(
5280.0(
5100.0(
4920.0(
4740,0(
4560.00
4380. O0
4200,00
4090.00
For the year 1948
For the year 1949
For the year 1950
~4840,00
5600.00
5300.00
Section 5. That the Treasurer of the said Totem 'of
Boynton, Palm Beach County, Florida, shall not sign any
of said bonds until he shall have given a bond payable
to the Town, properly conditioned, with sufficient surety,
to be approved by the Town Commissioners, and in an amount
equal to the par value of said bonds, that he will faith-
fully perform the duties of Treasurer with respect thereto.
Section 6. That the Treasurer of the Town of Boynton,
Palm Beach County, Florida, shall keep a separate .account
of each bond issue, showim~ the number and amo~mt of bonds
issued, the receipts therefrom and the disbursements of
the proceeds thereof.
Section V. That the Town Commission of the Town of
Boynton, Palm Beach County, Florida, hereby prescribed
the form of said bonds as follows:
UNITEDYS~TES OF AMERICA
STATE OF FLORIDA
COUNTY OF PAL~ BEACH
TOV~-0F BOYNTON.
~1000.00 Number
IMPROVEMENT BOND ISSUE 192V.
KNOW ALL L~EN BY THESE P~SENTS: That the Town
of Boynton, in Palm Beach County, Florida, by its
Commission~ acknowledges itself indebted and promises
to pay to the bearer hereof the sum of One Thousand
Dollars ($1000.00) on the first day of October, A. D.
19 ~, with interest thereon at the rate of six per
cent. per ann~n~, payable semi-annually on the first
days of April and October in each year upon presenta- ~
tion of the annexed interest coupons as the same become
due, both principal and interest being payable in Gold
Coin of the United States of America, of the present
standard of weight and fineness, at the Seaboard National
Bank in the City of New York State of New York, or at
the office of the To~n Treasurer of the Town of'Boynton,
in Palm Beach County, Florida, at the option of the
holder hereof.
The principal of this bond and interest thereon
are payable from taxes to'be assessed, levied and
collected on all the taxable property within the bounda-
ries of the Town of Boynton, Palm Beach County, Florida,
and the full faith and credit of the Town Commission of
the Town of Boynton, Palm Beach County, Florida, are
hereby pledged for the payment of the principal and
interest of this bond.
This bond is one of a series of sixty (80) bonds
of like date, amount, tenor and effect, except as to
~aturity, aggregating sixty thousand dollars ($80,000.00)
issued by the Town of Boynton, Palm Beach County, Florida,
by its Town Commission, for the purpose of constructing~
extending and improving a system of sewers within and
for said Tov~n.
And this bond is issued under and in strict compli-
ante with the provisions of the Constitution of the
State of Florida, and the Statutes of said State,
including among others, Chapter 8918, Laws of Florida,
Special Acts of 1991, and pursuant to an ordinance of
the To~m of Boynton, Palm Beach County, Florida, duly
adopted.
It is hereby certified, recited and declared that
all acts, conditions and things required by law to exist,
happen and be performed, precedent to and in the issuance
of this bond, have existed, have happened and have been
performed in regular and due time, fo_~m and manner as
required by law; that the amount of this bond, together
with all other indebtedness of 'the Town of Boynton, Palm
Beach County, Florida, does not exceed any limits pre-
scribed by the Constitution or Statutes of the State of
Florida, and that before the issuance of this bond, pro-
vision has been made by ordinance of the Town Commission
of the Town of Boynton, Palm Beach County, Florida, to
assess annually a tax upon the real and personal pro-
perty within said Town of Boynton, to realize a sum
sufficient to pay the interest on this bond as it may
become due ~nd to create a Sinking Fund for the payment
of the principal hereof at maturity.
IN WITNESS ~HEREOF, the Town of Boynton, in Palm
Beach County, Florida, by its Town Commis~ on has caused
this bond to be issued by each Commissioner, and the seal
of said Town to be affixed hereto, countersigned by the
Treasurer of said Town, and has cuased the interest cou-
pons hereto attached to be signed with the fac-simile
signature of its Treasurer, and this bond to be dated
the 1st day of October, A. D. 1927.
Countersigned:
~embe~ Town ,'omm ss:on of-
Town of Boynton, Florida.
Harry Benson (SIGNED)
Membe~ 'Town 0ommis. sion of
Town of Boynton, Florida.
E. L. Winchester (SIGNED)
~ember Town C6mmission--J~
Town of Boynton, Florida.
Treasurer of Town ~,
Florida.
That there shall be attached to each bond, coupons
for interest thereon for Thirty Dollars ($30.00) each,
being payable semi-annually on~e first days of April
and October of each year, which shall be in the follow-
lng form, to-wit:
No. $30.00
April
On the first day of October, 19 .... , the To~
Co~tmission of the To~?m of Boynton, Palm Beach County,
Florida, for and on behalf of said Town premises to
pay to the bearer Thirty Dollars ($30.00) in Gold Coin
of the United States of America of the present standard
of weight and fineness at the Seaboard National Bank in
the City of New York, State of New York, or at the office
of the Treasurer of the Town of Boynton, Palm Beach County,
Florida, at the option of the holder hereof, being six
months interest then due on its bond dated October 1st,
A. D. 1927, payable from taxes to be a assessed, levied
and collected upon all the taxable property within the
boundaries of said Town of Boynton, Palm Beach County,
Florida.
No ~
Treasurer ~'f 'the
of Boynton, Florida
Section 8. Said bonds shall bear the foll~i~g
endorsement:
"Validated and confirmed by decree of the Circuit
Court of the Fifteenth Judicial Circuit of the State of
Florida in and for Palm Beach County, rendered the
day of A.D. 19 .
UT~k o-F- CirBu'it Cour--~-~f
the Fifteenth Judicial Cir-
cuit of Florida in and for
Palm Beach County~~'
Section 9. That when said bonds shall have been
executed as hereinbefore provided and the proper certifi-
cate of their validation entered on the back thereof by
the Clerk of the Circuit Court rendering the deci-ee of
validation and confirmation and the same shall have been
sold, said bonds shall be, by the Treasurer of the said
Town, delivered to the purchaser or purchasers thereof,
upon the payment by said purchaser or purchasers of the
purchase price agreed upon, to the duly elected, qualified
and acting T~easurer of the said Town, who shall give to
said purchaser receipt for the purchase money, which said
100
receipt shall be to the purchaser or purchasers full
acquittance for said purchase money and the said purchaser
or purchasers shall not be required to see to the appli-
cation of the same.
Section 10. That all ordinances, resolutions or
orders or parts of ordinances, resolutions or orders in-
consistent or in conflict herewith be, and the same hereby
are, rescinded and repealed, and the ordinance herei~ con-
tained shall be into effect ten (10) days after the passage
and adoption hereof.
This o~din~ance passed and adopted this 18th day of
August A. D. 19~?.
Attest:
E. Lo ~inchester (Signed)
Town Cler~
R. O. ~yers (Signed)
Harry Benson (Signed)
Eo Lo Winchester (~
~o.,v~.issionezs of th~
of Boynton, Palm Beach
County, Florida.
The above O~dinance No. 85, having been ~ead in
full at a meeting of the Town Commission of the To~ of
Boynton, Florida~ held on the 18th day of August A. Do
19~7, and a copy thereof posted at the front door of
the Town Hall of~ the Town of Boynton, Florida, on the
l~th day of August Ac D. 19~7.
Town of Boynton
Town Commissioners
Ro 0. Myers Ma yo r
Harry Benson
Vice
E~ L. ~ester
.... ~OWB
(Signed)
(Signed)
(Signed)