62-CC RESOLUTION NO. 62-~'~
A RESOLUTION OF THE CITY OF BOYNTON BEACH,
FLORIDA, DESIGNATING PAYING AGENTS AND
DESIGNATING CERTAIN TRUSTEE FOR THE HANDLING
OF FUNDS OF THE COMBINED MUNICIPAL WATER AND
SEWER SYSTEM.
WHEREAS, the City of Boynton Beach, Florida, did on
February 12, 1962, by Resolution No. 62-G, authorize the issuance of
$1,750,000.00 Water and Sewer Revenue Bonds, issue of 1961, Series A,
and by Resolution No. 62-I, authorize the issuance of $1,650,000.00 Water
and Sewer Revenue Bonds, issue of 1961, Series B, to finance the cost of
additions, extensions and improvements to its existing sewer system; and,
WHEREAS, subject bonds have been validated by order of the
Circuit Court of the Fifteenth Judicial Circuit, in and for Palm Beach
County, Florida, by Decree dated March 20, 1962; and,
WHEREAS, pursuant to the terms of the above and foregoing
Resolutions, the purchaser of the bonds is to designate paying agents for
said bonds, as well as a trustee for the construction trust fund accounts,
and the permanent sinking fund, and trust fund accounts established therein,
all subject to the approval of the City Council, and,
WHEREAS, F. S. Smithers and Co., as purchaser of subject
bonds, has designated MORGAN GUARANTY TRUST COMPANY, as the
paying agent for subject bonds in the City of New York, and ATLANTIC
NATIONAL BANK OF WEST PALM BEACH, of the City of West Palm Beach,
Florida, as local paying agent, and has further designated ATL~.~NTIC
NATIONAL BANK OF WEST PALM BEACH, of the City of West Palm Beach,
Florida, as trustee for the sewer construction trust fund accounts, and as
trustee for the permanent sinking fund and trust accounts established in the
above described Resolutions, said funds to be maintained and operated by
said trustee in strict accordance with the terms and provisions of said
Res olutions.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COUNCIL OF THE CITY OF BOYNTON BEACH, FLORIDA:
That the appointment of the above paying agents and trustee
designated by the purchaser of subject bonds, are hereby approved and the
City,~~lis hereby directed to prepare for approval by the City Council,
appropriate written agreements to be executed by said paying agents and
trustee, and the City of Boynton Beach, Florida.
PASSED AND ADOPTED this llth day of May, A. ID., 1962.
~ORPORATE SEAL)
ATTEST:
City Clerk
CITY OF BOYNTON BEACH, FLORIDA
BY:
Mayor
Councilman
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