62-YRESOLUTION 62-Y.
A RESOLUTION OF THE CITY OF BOYNTON BEACH, FLORIDA,
RATIFYING SALE OF $130, 000.00 MUNICIPAL CIVIC CENTER
BUILDING BONDS, SERIES 1961.
WHEREAS, pursuant to Notice duly published for the sale of $130, 000. q0
Municipal Civic Center Building Bonds, Series 1961, dated December 10,
1961, the City Council of the CITY OF BOYNTON BEACH received and opened
the following sealed proposals in connection therewith, at its meeting of
April 9, 1962:
The Proposal of FIRST NATIONAL BANK OF MIAMI, FLORIDA
and OSCAR DOOLEY & CO. offering to pay the sum of $130, 000.00
and accrued interest computed from December 10, 1961 lo the date
of delivery thereof for said bonds, bearing interest at the rate of
5% per annum on the bonds maturing in the years 1962 to 1966
inclusive, and at the rate of 3 1/2% per annum on the bonds maturing
in the years 1967 to 1981 inclusive, being a net interest cost of
$54, 197.90.
The Proposal of F. S. SMITHERS & CO., offering to pay the sum
of $130, 352.30, together with accrued interest from December 10,
1961, to the date of delivery thereof for said bonds , bearing
interest at the rate of 3 1/2% per annum on the bonds maturing in
the years 1962 to 1981 inclusive, being a net interest cost of $54, 772.70
The Proposal of GOODBODY & CO., offering to pay the sum of
$130, 067.60, together with accrued interest from December 10, 1961,
to the date of delivery thereof for said bonds, bearing interest
at the rate of 4% per annum on the bonds maturing in the years
1962 to 1969 inclusive, at the rate of 3 3/4% per annum on the bonds
maturing in the year 1970 to t978 inclusive, and at the rate of
3 7/8% per annum on the bonds maturing in the years 1979 to 1981
inclusive, being a net interest cost of $60, 719.95.
The Proposal of T. NELSON O'ROURKE, INC., offering to pay the
sum of $130, 088.00, together with accrued interest from December
10, 1961 to the date of delivery thereof, for said bonds, bearing
interest at the rate of 4% per annum on the bonds maturing 1962 to
1967 inclusive, at the rate of 3.60% per annum on the bonds
maturing in the years 1968 to 1975 inclusive, and at the rate of
3. 70% per annum on the bonds maturing in the years 1976 to
1981 inclusive, being a net interest cost of $58,082.00; and
WHI~.ftEAS, the proposal of F. S. SMITHERS & CO. referred to in the
preambles hereof, was the highest and most advantageous of said bids and
in all respects complie~l with the notice of sale, and said bidder was, ~t the
meeting of the City Council of the City of Boynton Beach, Florida, held on
April 9, 1962, awarded the sale of subject bonds; now, therefore,
be it resolved by the City Council of the City of Boynton Beach, Florida.~
SECTION l:
That~the acceptance of the bid of F. S. SMITHERS & CO. and award of
the sale of $130, 000.00 Civic Center Building Bonds, Series 1961, of the
City of Boynton Beach, Florida, to said company, at the City Council
meeting held on April 9, 1962, is hereby ratified and confirmed, said bonds
and their respective interest rates being more particularly described as
follows:
$130, 000. 00 - Municipal Civic Center Building Bonds,
Year
Series 1961,
dated December 10, 1961, numbered 1 to 130,
inclusive, in the denomination of $1, 000 each, bearing
interest and maturing on December 10 of each year
as follows:
Inte re st Inte re st
Amount Rate Ye ar Amount Rate
1962 $ 5,000 3 1/2% 1972 $ 5,000 3 1/2%
1963 5,000 3 1/2% 1973 5,000 3 1/2%
1964 5, 000 3 1/2% 1974 5,000 3 1/2%
1965 5, 000 3 1/2% 1975 5,000 3 1/2%
1966 5,000 3 1/2% 1976 10, 000 3 1/2%
1967 5,000 3 1/2% 1977 10, 000 3 1/2%
1968 5, 000 3 1/2% 1978 10, 000 3 1/2%
1969 5,000 3 1/2% 1979 10, 000 3 1/2%
1970 5,000 3 1/2% 1980 10, 000 3 1/2%
1971 5, 000 3 1/2% 1981 10, 000 3 1/2%
SECTION 2: That the proper officers of the City, be, and they are
hereby authorized and directed to execute said Bonds when prepared and to
deliver same to said purchaser upon payment of the purchase price pursuant
to the conditions stated in the notice of sale, without further authority from
this Council.
SECTION 3: That the City Treasurer, be, and she is hereby authorize
and directed to return forthwith the good faith checks of all unsuccessful
bidders.
SECTION 4: This resolution shall take effect immediately.
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PASSED AND ADOPTED this
(CORPORATE SEAL)
City Cle r~.
day of . A. D. 1962.
CITY OF BOYNTON BEACH, FLORIDA
., . . ,,, . ?~
Mayor
//2,.,~/ ~---/, ~~/~,,/~Vice Mayor
/ i C~uncilman
"~ 't., ~.. / /
Councilman
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