62-EE RESOLUTION No. 62- EI~
A RESOLUTION AUTHORIZING THE EXECUTION
OF A TRUST AGREEMENT BETWEEN THE CITY
OF BOYNTON BEACH AND THE ATLANTIC NATIONAL
BANK OF WEST PALM BEACH, WEST PALM BEACH,
FLORIDA, AS TRUSTEE OF CERTAIN FUNDS UNDER
SAID AGREEMENT.
WHEREAS, the City Council has, by resolution duly
adopted on February 12, 1962, as amended, authorized the issuance,
sale and delivery of $1,650,000 Water and Sewer Revenue Bonds, Issue
of 1961, Series B of the City; and
WHEREAS, PrOvision has been made in said resolution for
the establishment and maintenance of certain Trust Funds to be held
and administered by the Atlantic National Bank of West Palm Beach,
as Trustee; and
WHEREAS, it is necessary that a Trust Agreement be
entered into between the City of Boynton Beach and said Atlantic
National Bank of West Palm Beach, now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BOYNTON
BEACH, FLORIDA:
Section 1. That pursuant to said resolution adopted
February 12, 1~62, as amended, a Trust Agreement shall be entered
into by and between the City of Boynton Beach and the Atlantic
National Bank of West Palm Beach, West Palm Beach, Florida, as
Trustee.
Section 2. That said Trust Agreement shall be executed
on behalf of the City of Boynton Beach by the Mayor and the corporate
seal of the City shall be affixed thereto, and attested by the City
Clerk and said officers be and they are hereby authorized to execute
and deliver said Trust Agreement without further authority from this
~Quncil.
Section 3. That said Trust Agreement shall be executed
prior to the issuance and delivery of any of said Water and Sewer
Revenue Bonds, Issue of 1961, Series B, and said Trust Agreement shall
be in substantially the form attached hereto as Exhibit "A".
Section 4. This resolution shall take effect immediately.
PASSED AND ADOPTED this llth day of May, A. D. 1962.
(CORPORATE SEAL)
CITY OF BOYNTON BEACH, FLORIDA
By
A ~ "'"
TTEST'~~4~/
City Clerk