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08-26-60ARESOLUTION PROVIDING FOR THE ISSUANCE OF $120,000 SWIMMING POOL BONDS OF THE CITY OF BOYNTON BEACH, IN THE COUNTY OF PALM BEACH AND STATE OF FLORIDA; FIXING THE MATURITIES, FORM AND OTHER DETAILS OF SAID BONDS, AND PROVIDING FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST THEREOF. WHEREAS, pursuant to an ordinance heretofore duly enacted by the Council of the City of Boynton Beach, there was submitted to the qualified electors of the City of Boynton Beach, who were freeholders, at an election held on the 1st day of December, 1959, the question of ~he ~ssuance of bonds of the City of Boynton Beach in an aggregate principal amount of not exceeding one hundred twenty thousand dollars ($120,000) for the purpose of financing the cost of construction of a municipal swimming pool in said City; and WHEREAS, at said election the issuance of said bonds for said purpose was duly approved by a majority of the votes cast in said election, in which a majority of the freeholders who were qualified electors residing in said City participated, in the manner provided in the Constitution and Statutes of the State of Florida; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BOYNTON BEACH, FLORIDA: Section 1. That for the purpose of providing funds to finance the cost of construction of a municipal swimming pool in the City of Boynton Beach and other purposes necessary, appurtenant or incidental thereto, there shall be issued bonds of the City of Boynton Beach in the aggregate principal amount of not exceeding one hundred twenty thousand dollars ($120,000) pursuant to the Charter of the City, constituting Chapter 24398, Laws of Florida, Acts of 1947, as amended, and other applicable statutes. Said bonds shall be designated "swimming Pool Bonds Series E", shall be dated September 1, 1960, shall be in the denomination of $1,000 each, shall be numbered from 1 to 120, both inclusive, shall bear interest at a rate or rates not exceeding five per centum (5%) per annum, payable semi-annually on March 1 and September 1 of each year. Said bonds shall mature ser- ially, in numerical order, on September 1 of each year as follows: $10,000 in each of the years 1961 to 1972, inclusive. Both principal and interest shall be payable at the Boynton Beach State Bank in the City of Boynton Beach, Florida, or at The Chase Manhattan Bank in the Borough of Manhattan, City and State of New York, at the option of the holder. Section 2. That there is hereby authorized the construction of a municipal swimming pool in the City of Boynton Beach and other purposes necessary, appurtenant or incidental thereto, substantially in accordance with the plans and specifications therefor heretofore prepared by George C. Davis, Architect, and John Adair Jr. & Asso., Engrs. and heretofore filed with and approved by this Council. Section 3. That in each year while any of said bonds shall be outstanding and unpaid there shall be levied, assessed and coll- ected a direct tax without limitation as to rate or amount upon all the taxable property in the City of Boynton Beach subject to taxation, which tax shall be in an amount sufficient to produce the sums nec- essary to pay the interest on said bonds as it falls due and the principal thereof as the same matures. All the funds derived by the City from said tax shall be deposited in a fund to be known as the "Sinking Fund", which is hereby created and established. The moneys in said Sinking Fund shall be used only for the payment of the principal of and interest on said bonds and -the holders of said bonds shall have a first lien on all such moneys in the Sinking Fund until paid out and applied as provided herein. That said Sinking Fund shall be a special fund of the City and shall be kept separate and apart from all other funds or accounts of the City and shall be maintained in a bank or trust company in the State of Florida which is entitled, under the laws of the State of Florida, to accept and hold State or municipal funds. Section 4. That the bonds shall be signed by the Mayor of the City of Boynton Beach and the corporate seal of the City shall be affixed thereto and attested by the City Clerk; that the coupons to be affixed to the bonds shall be executed by the facsimile signa- tures of said Mayor and City Clerk; that the validation certificate to be printed on the bonds shall be executed by the facsimile signa- tures of said Mayor and City Clerk; and said bonds, coupons and validation certificate to be printed thereon shall be in substantially the following form, with such omissions, insertions or variations as may be permitted or authorized: No. UNITED STATES OF AMERICA STATE 0F FLORIDA $1,000 COUNTy OF PALM BEACH ' ~ CITy OF BOYNTON BEACH SWIMMING POOL BOND SERIEs E KNOW ALL MEN BY THESE PRESENTS: That the City of Boynton Beach in the County of Palm Beach, a municipal corporation of the State of FlOrida, for value received, hereby acknowledges itself to be indebted and Promises to pay to bearer, or if registered holder hereof, the sum of registered to the ONE THOUSAND DOLLARs .. in lawful money of the United States of &me ~ ~tsee ~._an~, ~n the City of Boynton ~ ..... ~ica at the B of New ~tt~n Bank_ in th~ oA_ ~un, FlOrida. o~ :+oyn~ton Beach Septemb~'~a~ the o~tion of~.~u~ of Manhatt~--~ ~ne. ~ ~' ~ , With znterest~^~der, on the ~z~ an~ State ~eon at the rate of* ~ay per centum per ann money at the same place semi-~ .... ~ um, Payable ~ like lawful and the first day of September in each year, until the payment of ~"~Y on the first da~ of March the said Principal Sum, upon Presentation and surrender of the annexed COUpons as they severally become due, or if this bond is registered as to Principal and interest to the registered holder at the request of the holder.· This bond Will, at the office of the Treasurer of the City of Boynton Beach, in the County of Palm Beach, Florida, be registered as to principal, or as to principal and interest in accordance With the Provisions endorsed hereon. This bond is one of a series of bo and tenor, except as to a gregate to no number and ma · nds Of like da (~120.0 o~ ~t.m°re than One w~A~u~~ty, amount . te~ amount ..... . 0_~. ~ ms ~ .... ~ ~ --~.,~z'~m Twe~. lng zn thc ~3ruetion of a mJ~f~Y~ for the Purpose ~]Y_Th?usand Dollars ~=~n and othe~ .... ~uxpax swimmin~ ~ ~ paying the ~o~ PUrsuant to +~l ~u~p?ses necessary o_f~.mn the Cit~ ~JT~ ~ uonstitut~ ~_~-~! aPPUrtenan+ ^~ .~ ¥± ooynton .... =~u o~atutes of .~m~c~dental ther~a~ Chapter 24398, Laws of Florida Act ity, the same be including particularly the Charter of said C ~= o~a~e of Florida,~, ~e~_apPr0val of the fre~ s of 1947 ....... lng u_~ called and held Y~o were qualified t resolution duly adopted by the City Council of said City. · =~ PUrsuant ~to a It is hereby certified and recite and things essential t~ ~pPened, and ha,.~ ~f~ ~he vaIiditF o~ ,._.d ~hat ail acts ~ne issue t~j~, ~en done, tha* ~-~- ~nms bond exist Wzthin every _ been duly .... 9 irement of . Laws of sa~ o~ an~ Other lim~* ~fz=~ wz;n and thaa .~r" ?zzeCting Boynton ~ZZ~°*f;e; that the f,,~ ~f~f~ribed by the n2. Z~f b°nd is irre ..... ~Y~"z zn the Count,. ~ 5aztn and cre4~* ^~uzsUtion and - zev': - erms. ~- -?~u~z and limitation as to rate or amount upon ali ta~able ~=~ oax Without said City sufficient to pay the Principal of and interest o~ this bond as the same mature and become due. Property Within IN WITNESS WHEREOF, the City of Boynton Beac County of Palm Beach, FlOrida h · its Mayor and its corporate s~a~ c~used this bond ~h~ mn the by its City Clerk, a~d =~ ~o be hereunto ~,u~_oe Signed by ~e~a~s~m~le Signature~h~c°u~9ns hereto aff~^~ - - =~mxed and attested ~= aa~ed the first d~..~S~id. Mayor and C ~=~ ~o_be executed ~ ~ ~ep~em~ ...... ity Clerk, an~ ~ .... by ATTEST: ~=~, ~bO. ~ unms bond -4- Mayor -------- No. COUPON The City of Boynton Beach, in the County of Palm Beach, Florida, will pay to bearer on the first day of in lawful money of the United States of America, the sum of dollars ($ ), at the Boynton Beach State Bank, in the City of Boynton Beach, Florida, or at ~e Chase MauhattanBank , in the Borough of Manhattan, City and State of New York, at the option of the holder, being six months interest due that day on its Swimming Pool Bond Series E, dated Septem- ber 1, 1960, No. Mayor BACK OF BOND We hereby certify that we have this day cut off and can- celled all unmatured coupons attached to this bond, and that the within bond is hereby converted into a registered bond with the interest there- on payable semi-annually. Both principal and interest will be payable to the holder named in the registration blank below, his assigns or legal representatives, at the times and places expressed on the face of this bond. Dated this day of , 19 . ATTEST: ~i'ty Treasurer ~itY Clerk This bond may be registered as to principal only under the signature of the City Treasurer below, or other legally designated registrar, and shall thereafter be transferable only by written assign- ment of the registered owner or his attorney duly acknowledged or proved, such t~ansfer to be endorsed hereon and entered on the books of said City Treasurer kept for the purpose. Such transfer may be to "Bearer", and the coupons will remain payable to bearer unless and until all of them shall be surrendered and cancelled as evidenced by the execution of the foregoing certificate provided for that purpose. patl~'l o'fI ~egiIs't~' : Name of Registered Holde~ : signature 'of--~g~l~ar" CERTIFICATE OF VALIDATION This Bond is one of a series of bonds which were validated and confirmed by decree of the Circuit Court of the Fifteenth Judicial Circuit of Florida, in and for Palm Beach County, rendered on the day of , 1960. City Clerk Mayor -5- Section 5. Said bonds shall be validated by decree of the Circuit Court of the Fifteenth Judicial Circuit of FlOrida, in and for Palm Beach County, and the attorney for the City of Boynton Beach is hereby authorized and directed to cause such Proceedings for the validation of said bonds to be instituted, and the Mayor of the City is hereby authorized to verify the Petition or other pleadings in such proceedings; and that when validated the said bonds shall be Sold as directed by resolution of this Council in the manner Provided by law. Section 6. upon its passage. This resolution shall take effect immediately PASSED AND ~DOP:~D this _day of August, A. D. 1960. (CO'POP, ATE SEAL)