O#31 0RDINA}iCE NO. 31
Bond Issue No. i .$85,000.00
On motion of Commissioner ~Jard B. I~iller, seconded
by Commissioner C. F. Knuth and unanimously adopted, the
following Ordinance was introduced and read as follows:
¥~HEREAS, the Town of Boynton in Palm Beach County,
Florida, has bonds outstanding of the par value of Thirty-
Five Thousand Dollars (~$35,000.00), bearing seven per-
cent (7%) interest per annum; and,
WHEREAS, the Town Commission of said To~n of Boynton,
Florida, has deemed and does hereby deem it advisable
that the bonds aforesaid be retired and theft bonds bear-
ing a lower rate of interest be issued in lieu thereof;
and,
V~EREAS, the Town Commission of the To~nu of Boynton,
Florida, has deemed and does hereby deem it advisable that
said Town of Boynton, Florida, purchase land upon which
to erect waterworks for said Town, and has deemed and does
hereby deem it advisable that bonds of the said Totem of
Boynton, Florida, be issued in the sum of ~i~nirty-Five
~ousand Dollars (~g~$,000.00) for the purpose of pur-
chasing land on which to erect the water works and for
constructing a water works system for said Town of Boyn~on,
Florida; and,
WHEREAS, the Town Commission of the To~n of Boynton,
Florida, has deemed and does hereby deem it advisable to
issue bonds of said Town of Boynton, Florida, in the sum
of Fifteen T~ousand Dollars ~15,000.00) for the purpose
of opening, widening and paving the streets and side-
walks and cre~-~ting a revolving fund for carrying on
said work in said To~n of Boynton, Florida; and,
'~'fHEREAS, the To~n Oommission of the Town of Boynton,
Florida, has deemed and does hereby deem it advisable
to issue bonds for and on behalf of the said Tov~n of
Boynton, Florida, of the aggregate par value of Eighty-
Five Thousand Dollars (~i~85,000.00) to enable the said
Town of Boynton, Florida, to carry out the three public
purposes hereinbefore enumerated; and,
U,~HE~IEAS, the Town of Boynton, Florida, has no bonds
now outstanding except bonds of the par value of Thirty-
Five Thousand Dollars ~i~35,000.00) hereinbefore enumerated;
and,
~¥HE~EAS, through the proposed issuance of bonds of
the par value of Eighty-Five Thousand Dollars (;~85,000.00),
all of the bonds of said Town of Boynton, Florida, now
outstnaind would be retired and cancelled and the total
aggregate sum of the bonded indebtedness of said Town
of Boynton, Florida, would not exceed the total par value
of Eighty-Five Thousand Dollars ($85,000.00); and,
?fHEREAS, bonds of the total aggregate of Eighty-Five
Thousand Dollars (.$85,000.00) par value would not be in
excess of the fifteen per cent (15~) statutory bond limit
fixed for said To~m of Boynton, Florida; and,
?fHEREAS, the Town Commission of the Town of Boynton,
Florida, has full power and authority under and by virtue
of Article VII of Chapter 8918, Acts of 1921, of the Laws
of Florida, to issue bonds of the par value of Eighty-
Five Thousand Dollars (~$85,000.00) for the three public
purposes hereinbefore mentioned; Now Therefore,
BE IT ORDAII,?ED BY THE TO~,~ COI~ISSION OF THE TO:,~
OF BOYNTON IN THE COUNTY d~: P~,LM BEACH AND STATE OF
FLOR IDA AS FOLLO ~:
Section 1. That the. Town Commission of the Town
of Boynton, Florida, has deemed and does hereby deem it
advisable to issue bonds of the Town of Boynton, in the
total aggregate amount of Eighty-Five Thousand Dollars
($85,000.00), for the thr~}e public purposes hereinafter
named, to-wit: Thirty-Five Thousand Dollars (~S$,000.00)
for the purpose of refunding outstanding bonds of the said
Town; Thirty-Five Thous.~nd Dollars ({~35,000.00) for the
purpose of purchasing land on which to erect ~mterworks
and for the construction of a waterworks system for said
Town, and Fifteen Thousand Dollars(~l$,000.00) for the
purpose of opening, widening and paving the streets and
sidewalks of the said Town, and creating a revolving fund
for carrying on said work.
Section 8. That said bonds shall be each in the de-
nomination of One Thousand Dollars (4~1000.00) and shall be
numbered from 1 to 85, both inclusive; that said bonds
shall be signed by the Commissioners and countersigned
by the Treasurer of the said To:~','n of Boynton, Florida;
that said bonds shall bear interest coupons to be sig~ed
with the fac-simile signature of the Treasurer of said
Town; that said bonds shall bear interest at the rate of
six per cent. per annum (6/J), payable semi-annually, on
the first days of Aoril and October of each and every year,
commencing on the first day of April, A. D. 1924, and that
the principal and intere::t of said bonds shall be payable
in lawful money of the United States of America at the
Seaboard National Bank in the City of New York in the
State of ~ew York, or at the office of the Town Treasurer
of the Town of Boyntnn, in Palm Beac~ County, Florida, at
the option of the holder of said bonds.
Section 3. That the said b~uds shall bear date
October 1st, A. D. 1923, and shall become due and shall
be numbered as follows:
Bond Nos~ Date of Maturity. Amount
1 October 1, 1929 ~1000.00
2 October 1, 1930 ~1000.00
3 October 1, 1931 ~1000.00
4 October 1, 193~ ~1000.00
5 October 1, 1933 ~1000.00
6 and 7 October l, 1934 ~2000.00
8 and 9 October 1, 1935 ~2000.00
10 and 11 October 1, 1936 ~2000.00
12 and 13 October 1, 1937 ~)~000.00
14,15 and 16 October 1, 1938 .,)3000.00
17,18 and 19 October 1, 1939 ~3000.00
20,21 and 22 October 1, 1940 :i~3000.00
23,24 and 25 October 1, 1941 ~i~3000.00
26,~V,and 28,29 October 1, 1942 54000.00
30,31,3~, 33 October l, 1943 :$4000.00
34,35,36, 37 October l, 1944 ,~4000.00
38,39,40, 41 October l, 1945 ~4000.00
42,43,44, 45,46 October l, 1946 ~5000.00
47,48,49, 50,51 October 1, 1947 ~5000.00
5~,53,54, 55,56 October 1, 1948 ~5000.00
57,58,59, 60,61 October 1, 1949 ~i~5000.00
62,63,54, 65,66,6V October 1, 1950 ~6000.00
68,69,V0, 71,7~,V3 October 1, 1951 ~i~6000.00
V4,V5,V6, VV,?8,V9 October l, 1952 ~6000.00
80,81,82, 83,84,85 Octobe~_l~1953 ;~6000.00
25 Years.-'~ ~850~0.00
Section 4. That the Treasurer of the Town of Boynton,
Florida, shall not sign any of the bonds herein proposed to
be issued until he shall have given a bind payable to the
Town of Boynton, Florida, conditioned upon the faithful
performance of all and singular the duties incumbent on
the Treasurer of the Tovfn of Boynton, Florida,
of the issuance of the said bonds in the par value of
Eighty-Five Thousand Dollars (988,000.00) under date of
October 1, A. D. 19~S, by the Town of Boynton, and further
conditioned' that he ~nall honestly account for all moneys
coming into his hands as, such Treasurer, with reference
to the issuance of said bonds, according to law, which
bond shall have sufficient surety to be approved by the
Town Commissioners of the Town of Boynton, FlOrida.
Section .5. That a special tax upon all the taxable
property, both real and personal, within the Town of
~3oynton, Florida, sufficient to pay interest on the bonds
herein proposed to be issued as the same shall become due,
and sufficient also to provide a sinking fund to redeem
and pay all principal of the said bonds at the maturities
thereof, be and tile same is hereby levied and the same is
hereby levied and assessed for each and every year during
which said bonds shall be outstanding and unpaid.
Section 6. That the Town Commission of the To~ of
Boynton, Florida, does hereby prescribe the form of such
bonds' as follows:
UNITED STATE OF A~ERICA
STATE OF FLORIDA
COUNTY OF PALi¥'I BEACH
~1000 T0'.!?N OF BOYNTON ;$1000
Number Number
Refunding, Waterworks and Street Bond.
KNOW ALL I¥IEN BY THESE PRESENTS, that the Town
Commission of the Town of Boynton, of Palm Beach County,
Florida, for and on behalf of said T~#n, acknowledges it-
self 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. 1929, with interest thereon at the rate of
six per centum per annum, payable se:~,~i-annually on the
first days of April and October in each year upon presen-
tation of the annexed interest coupons as the same become
due, both principal and interest being payable in lawful
money of the United States of America at the Seaboard
National Bank, New York City, or at the office of the Town
Treasurer of the Town of Boynton, in Boynton, Florida, at
'the option of the holder hereof.
The principal of this bond and the interest thereon
are payable from taxes to be assessed and levied and
collected on the taxable property within the boundaries
of the Town of Boynton, Florida, and the full faith and
credit of 'the Town Commission of the Town of Boynton are
hereby pledged for the payment of the principal and in-
terest of this bond.
This bond is one of a series of 85 bonds of like date,
amount, maturity, tenor and effect, aggregating Eighty-Five
Thousand Dollars (~$85,000.00) and issued by the Town of
Boynton, Palm Beach County, Florida, by its Tov~n Commissioners
for the following purposes, to-wit: Thirty-Five Thousand
Dollars (~35,000.00) for the purpose of refunding outstand-
116
ing indebtedness of the said Town; Thirty-FiYe T?ousand
Dollars (~)35,000.00) for the purchase of land for water-
works and construction of a waterworks system and Fifteen
Thousand Dollars (:~15,000.00) for street and sidewalk im-
provement ~ork, and creating a revolving fund for carrying
on said work, and is issued under and pursuant to and in
strict compliance with the provisions of the Constitution
of the State of Florida and Statutes of said State, includ,
lng among others Chapter 8918, Laws of Florida, Acts of
1921, and pursuant to the ordinance of th~ 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 performed
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, Florida, does not ex-
ceed any limit prescribed by the Constitution or statutes
of the State of Florida; and that before the issuance of
this bond, provision has been made by the ordinance of the
Town Commiss~ on of said Town of Boynton, Florida, to assess
annually a tax upon all the real and personal property
within said Town of Boynton to realize a sum sufficient
to pay the inter~st on this bond as it may become due and
to create a sinking fund for the payment of the principal
hereof at maturity.
IN WITNESS V~HE~DF~ the Town of Boynton, in Palm Beach
1 17
County, Florida, by its To~wn Commission has caused this
bond to be executed by each Commissioner and the saal of
said Town to be affixed hereto, countersigned by the
Treasurer of said Town, and has caused the interest coupons
hereto attached to be signed with the fac simile signature
of its Treasurer, and this bond to be dated the first day
of October, A. D. 1923.
Eember, Tow~ Commission of
Town of Boynton, Florida.
Countersigned:
i.[ember, Town Commission ~of
Town of Boynton, Florida.
Trsasu~er, Tovm "of Boynto~,
Florida.
l~emb e r, 'Town-"'C ommi s s" i6n
of Tov;n of Boynton,Florida.
That there shall be attached to each bond, coupons
for interest thereon for Thirty-Dollars ($~0.00) each,
being payable at semi-annual periods on the first day of
April and the first day of October of each year, which
coupons shall be in the following form, to-wit:
On the first day of A0ril
October, 19 , the Town Commission
of the Town of Boynton, of Palm Beach County, Florida, for
and on behalf of said ToYn, promises to pay to bearer,
Thirty Dollars (:i~80.00) lawful money of the United States
of America, at the Seaboard 1Qational Bank in New York City,
N. Y., or at tlhe office of the Treasurer of the Town of
Boynton, Florida, at the option of the holder hereof, being
six months interest then due on its bond dated October 1,
1923, No.__, payable from taxes to be assessed, levied
and collected upon the taxable property within the bounda-
ries of the Town of Boynton.
Treasurer of the T~' o'f
Boynton, Florida.
The above ordinance having been read in full at the
regular meeting of the Town Commission of the Town of
Boynton, Florida, held on the 4th day of September, A. D.
1923, was unanimously adopted and passed at a regular
meeting of.the said Commission, all of the members geing
present, held on the 18th day of September, A. D. 1923,
and a copy thereof posted at the front door of the Town
Hall at Boynton, Florida, on the 4th day of September,
A. D. 1923.
C. F. Knuth
W. B. Miller
J. C. Powell
(Signed)
(Signed)
(signed)
Commissioners of the Town
of Boynton, Florida.