O#94ORDINANCE NO. 94
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF BONDS
BY THE TOV~ OF BOIq~TON, FLORID~, IN ~E A~0UNT OF
~239,000.00 DOLL~RS, Tm PROCEEDS DERIVED FR0~ THE
SALE Ti~REOF TO BE USED TO REFUND AND PAY CERTAIN
OBLIGATIONS OF SAiD TOY~ FOR THE PA~T OF ~¥HICH
Ti~E CREDIT OF SAID TOWN IS PLEDGED, PRESCRIBING
'THE FORX BJ{D }~D%TURITIES OF SAID BONDS TO BE S0
iSSUED A~D PROViDiNG FOR THE LEVY OF A TAX TO CRE-
ATE A SINKING _w0~$ FOR THE PAlr~NT OF THE PRINCI-
PAL AND iNTEREST OF SAID BO~S.
~EREAS, the Town of Boynton, Florida, has outstand-
ing indebtedness in the amount of Two Hundred Thirty-nine
Thousand ($~9,000.00) Dollars lawfully incurred by said
Town in the opening, widening and paving of streets and
sidewalks and the construction of sewers in said Tovm,
said indebtedness being due and owing to the contractors
for the construction of said improvements and being
presented by obligations for which the faith and credit
of said Tovm are pledged, and
~YHEREAS there are no moneys in the treasury of said
Town applicable to the payment of said indebtedness and
no funds are available for that purpose and the Town
Co~nission of the Town of Boynton deems it expedient and
to the best interests of said Town-to issue bonds in the
amount of ~o Hundred Thirty-nine Thousand (~239,000.00)
Dollars, the proceeds to be derived from~he sale thereof
to be used in the funding and payment of said indebted-
ness and the discharge of the obligations representing
said indebtedness for t~e payment of which the credit
of said Town is pledged.
N0~ THEREFORE~ BE IT 0RDAIaED by the Tov~ Co.~mission
of the Town of Boynton in Palm Beach County, Florida,
as follows:
Section 1. That pursuant to the Totem Charter,
being Chapter 8918 of the Laws of Florida of 19~l and
Chapter 11855 of the Laws of Florida of 19~7, bonds of
the Town of Boynton be issued in the amount of Two
Hundred Thirty-nine Thousand (~39,000.00), Dollars, for
the purpose referred to in the preambles to this ordi-
nance..
Section ~. That said bonds shall be in the denomi-
nation of One ~nousand Dollars each,, bear interest at
the rate of six per centum per annum said interest being
payable semi-annually on the first days of June and
December; said bonds to be dated June l, 19B8, to be
numbered from I to ~39, both inclusive, and shall mature
as follows:
8 bonds on June I of each of the years 19~l to 19~0,
inclusive;
9 bonds on June i of each of the years 19~l to 19~8,
inclusive~
~t01~b~ds on June i of each of the years 19~7 to 1980,
inclusive;
~l bonds on June I of each of the years 1981 and
25 bonds on June I 19~.
Section ~. Bo~ principal and interest of said
bonds shall be 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 Totem Treasurer
at the option of the holder. Sai~ bonds shall be signed
by the Commissioners and countersigned by the Treasurer
of the Town of Boynton. The coupons attached thereto
shall be executed by the fac simile signature of the
Town Treasurer.
Section 4. That said bonds and coupons with the
necessary variations to indicate the different numbers
and different dates of maturity~, and the va idation cer-
tificate to be endorsed on said bonds, shall be in sub-
stantially the following for~:
U!~ITED STATES OF A~ERICA
STATE OF FLORIDA
COUNTY OF PALN BEACH
T0~ OF BOMNT01~
REFURrDING BOarD
ISSUE 1928, Series A.
KN0~V ALL ~EN BY THESE PRESENTS, That the Town of
Bo~nton, Palm Beach County, Florida, for avlue received,
acknowledges itself indebted and promises to pay to the
bearer hereof the sum of one thousand dollars ($1,000.00),
on the first day of June A. D. 19__, with interest thereon
at the rate of six per cen%um per annum, payable semi-
annually on the first day of June and December in each
year upon presentation of the annexed interest coupons as
the same become due, both principal and interest being
payable in gold coin of the United States of America of
the present standard of weight and fineness at the Sea-
board National Bank in the City of New York, State of
New York~ or at the office of the Towu~ Treasurer of the
Town of Boynton, in Palm Beach County, Florida, at the
option of the holder hereof.
The principal of this bond and interest thereon
are payable from taxes to be assess~e~, levied and
collected on all the taxable property within the
boundaries of the Town of Boynton, Palm Beach County,
Florida, and t?~e full faith and credit of the Town of
Bo~-nton, Palm Beach County, Florida, are hereby pledged
for the payment of the principal and interest of this
bond ~
This bond is one of an issue of ~39 bonds aggre-
gating Two Hundred Thirty-nine Thousand ($~39,000.00)
Dollars, of like date and tenor, except as to date of
maturity, issued by the Town of Boynton, Florida, for
the purpose of refunding valid outstanding indebtedness
of said Town represented by obligations for the payment
of which the credit of said Town is pledged in strict
conformity with the Constitution and Laws of the State
of Florida, including Chapter 8918~ Laws of Florida,
being the charter of said Town and Chapter l1880, Laws
of Florida, and also pursuant to ordinances and resolu-
tions of the Town Commission of the Town of Boynton
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 ~erformed in regular and due time, form 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 prescribed by the Constitution or Statutes
of the State of Florida, and that before the issuance
of this bond, provision has been made by ordinance of
the Town Commission of the Town of Boynton~ Palm Beach
County, Florida, to assess annually a tax upon all the
taxable property within said Tov~n of Boynton, to realize
a sum sufficient to pay the interest on this bond as
it may become due and to create a sinking fund for the
payment of the principal hereof at maturity.
IN ~TNESS ~iEREOF, the Town of Boynton, in Palm
Beach County, Florida, by its Town Commission has caused
this bond to be signed by each Commissioner, and the
seal of said Town to be affixed hereto, countersigned
by the Treasurer of said Town, and has caused the in-
terest coupons hereto attached to be signed with the
fac simile signature of its Treasurer, and this bond
to be dated the 1st day of June, 19~8.
Countersigned:
Treasurer, Tov~n of -Boynton~
Florida~
~ Town C~of
Town of Boynton, Florida~
Harry Benson ~Signed)
Town
Town o~ Boynton, Florida.
E L.
. ~nche s ter (Signed)
Town of Boynton, Florida.
.oo
On the first day of _, 19~, the To~wn of
Boynton, Palm Beach Oounty, Florida, will pay to the
bearer thirty dollars (930.00) 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 _Refunding Bond~ Series
A, dated June, 1928, No. ._ .
Trea~u'rer o-T-the TowH
Boynton., Florida.
(V~lida~ion Certificate.)
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. 192 .
~f Oi'rcuit ~C'o~r~ -of~
the Fifteenth Judicial Cir-
cuit of Florida, in and for
~alm Beach County,
Section 5. That for the purpose of providing further
for the prompt payment of principal and interest of said
bonds as the same become due there shall be levied, assessed
and collected upon all the ta:cable property within the
boundaries of the Town of Boynton a direct continuing
annual tax during each year said bonds, or any of them,
are outstanding and unpaid, sufficient to produce in
each year the interest becoming due on said bonds in
said ye~.r and sufficient to provide a sinking fund to
pay the principal of said bonds as they severally mature,
and said special tax, as and when collected, shall be
placed in said sinking fund and used~:exclusively for
the payment of interest and the redemotion of said bonds
as they severally become due and payable and shall not
be used for ~y other purpose.
Section 6. That all ordinances, resolutions or
parts of ordinances and resolutions inconsisten or in
conflict herewith be and the same hereby are rescinded
and repealed.
Section ?. That this ordinance shall go into effect
ten days after its passage.
This ordinance passed and adopted this _ day of
192 8.
Attest:
Harry Benson
(Signed)
E. L. Winchester (Signed)
Commissioners of the Town
of Boynton, Palm Beach
County, Florida.
Tow~. --