74-ZRESOLUTION NO.~ 74-~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF BOYNTON BEACH, FLORIDA, AUTHORIZING THE
TRANSFER TO SAID CITY OF FUNDS HELD BY'MORGAN
GUARANTY TRUST COMPANY FOR~i~AYMENT OF SAID
CITY'S 1961 SERIES A&B WATER AND SEWAGE BONDS.
WHEREAS, The Morgan Guaranty Trust Company, 23 Wall Street
New York, New York, is a co-paying agent as to the City of
Boynton Beach, Florida 1961 Series A&B Water and Sewage Bonds,
which bonds were called in for redemption on June 22, 1972; and
WHEREAS, the said Bank is still holding funds for payment
of such bonds as have not been submitted for payment; and
WHEREAS, the City of Boynton Beach is agreeable to the
transfer of such remaining funds to said City for payment of
all remaining bonds outstanding.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF BOYNTON BEACH, FLORIDA:
Section 1: That the City of Boynton Beach, Florida, is
hereby authorized to accept the transfer of all funds now held
by the Morgan Guaranty Trust Company, New York City, New York,
which said Bank is holding as co-paying agent for the payment
of any remaining unpaid City of Boynton Beach 1961 Series A&B
Water and Sewage Bonds, and that the City shall thereupon
assume the responsibility of payment of any remaining unpaid
bonds thereunder.
Section 2: That the said City shall hold such funds in
the City's Utility General Fund, and that the said City shall
maintain an appropriate reserve for payment of the matured
bonds still outstanding.
PASSED AND ADOPTED this _~ ~ day of June, A.D., 1974.
ATTEST:
City Clerk
CITY OF BOYNTON BEAC~ FLORIDA
/~: Mayor :~ _
' ~ : ~ice Mav~gr
Co~cilman
Councilman