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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.