70-F ..... ~ AT
RESOLUTION A~-~R.DIi.~= PRIVATE SALE $o00,000
WATER A'i~D
~',r~m ~VE~fUE BOi~S, SERIES 1969 OF
E~ON Bz. ACH, FLORIDA, AND
T~ PAYING AGENT.
~q/EREAS, the City Council of the City of Boynton
Beach, Florida, (hereinafter called "City"), has heretofore
bY resolution adopted on December 3, 1969, authorized the is-
suance of $800,000 Water and Sewer Revenue Bonds, Series 1969
dated October 1, 1969; and
WHE~EAS, the City has received an offer to purchase
such bonds at the . ~ ~
proc_ of $748,880.00 and accrued interest
to the date of delivery from William R. Hough & Co., St. Paters-
burg, Florida: and received the following proposal in writing
(such proposal being attached and made a part of this resolu-
.tion) for the purchase at private sale of such Water and Sewer
Revenue Bonds.
WHEREAS, the City Council has determined that it is in
the best interest of the City that such $800,000 Water and Sewer
Revenue Bonds, Series 1969 be sold at private sale to William P..
Hough & Co., at the price and on the terms as above stated.
NOW, THEREFORE, BE IT 9ESOLVED BY THE CiTY COUNCIL OF
THE CITY OF BOYIFI'ON BEACH, FLORIDA, that:
SECTION 1. $800,000 Wmter and Sewer Revenue Bonds,
Series 1969 be sold at private sale to William R. Hough & Co.,
at the price of $748,880.00 and accrued interest for such bonds
bearing interest as follows:
BO~OS ~TURING
1970 - 1977, Inclusive
1978
1979
1980 - 1981, Inclusive
Ib~E RE S T [L'%~~' E
6.50~.
6.30~I
6.40~4
6.50%
SECTION 2. Such bonds and the interest thereon shall
be payable at the Atlantic National Bank of West Palm Beach,
West Palm Beach, Florida.
SECTION 3. This resolution shall take effect immedi-
ately upon its adoption.
ATTF, ST:
CITY OF BOYNTON B~ACI~ ['LOI~IDA
CORP.
Feb~_~y 16,1970
City of Boynton Beach, Florida
Boynt(x~ Beach, Florida
Deam Mrs. Jackson and otheP Members of
the City Cotmcil:
Pursuant to the terms of otub investment banking agreement, we are pleased to make
following offe~ to purchase you~ ~ecently validated bonds'.
For the $800,~ pa~ value of the City of Bo~nton Beach Wate~ and Sewem ~evenue
Bc~ds, Semies 1969 described mo~e f,.lly in ~w attached offlclal st.~ which
statement is made a pa~t of this offe~ by ~fer~noe, w~th annual
and inte~st payable semi-annually as specified below: .
Bonds ma~ 1970 through 1977
Bonds maturing 1978 ~
Bonds matuz4_ng 1979
Bonds mttwing 1980 through 1981
6.50 %
6.30%
6.40%
6.50%
We offem to pay the aggregate s~ of $78~,880~00 and accrued interest
to date of delivery.
'Delivery and payment shall be made at a time and plaoe mutually ag~ed upon
bu~ not late than ~il 1, 1970 o~ thereaftem at ou~ option.
The paying agent and reserve aceountbank o~ banks provided fo~ the bonds shall be
designated by us within 72 hours after aceeptanoe of this offem.
The bonds shall beaP the unqualified approval as to legality of Me~s~s B~yan~
Preeman,' Richardson and Watson, Attorneys Jacksonville ~ Gene Moore III,City
Attorney of the City of Boynton Beach.
The City ShaLl adopt the attached official statement and '~.utho~ize its e~ecut~
by the Mayo~ and City Clerk and autho~.ize and direct the ~ty administration
take all neeessary steps to effect a closing of the trens~ction within a
As evidenee of ou~ good faith we will delivem a cashier's' check in the amount!
$16,000 to the City by noon Febzuar~ 17,1970 as full llqu/~atin~ damages
event of ou~ non-pe.~{..om~?e and an m~ard of the sale of ~ bonds to
us shall be so ec~ditioned.
This offe~ is for prompt aeeeptanoe and will be withdr~m~ at L~ F/~·
Feb~-~f ~ if not accepted at o~ p~io~ to that time.