12-18-61bRESOLUTION PROVIDING FOR THE ISSUANCE OF
$130, 000. 00 CIVIC CENTER 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 qualifie.
electors of the City of Boynton Beach, who were freeholders, at an election
held on the 5th day of December, 1961, the question of the issuance of bonds
of the City of Boynton Beach in an aggregate principal amount of not exceed-
ing one hundred thirty thousand dollars ($130, 000. 00) for the purpose of
financing the cost of construction of a municipal civic center building project
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 civic center building project in the
City of Boynton Beach and other purposes necessary, appurtenant or inciden-
tal thereto, there shall be issued bonds of the City of Boynton Beach in the
aggregate principal amount of not exceeding one hundred thirty thousand
dollars ($130, 000.00) pursuant to the Charter of the City, constituting
Chapter 24398, Laws of Florida, Acts of 1947, as amended, and other applica'
stat-~tes. Said bonds shall be designated MUNICIPAL CIVIC CENTER
BUILDING BONDS, SERIES 1961, shall be dated December 1, 1961, shall be
in the denomination of $1, 000 each, shall be numbered from i to 130,
both inclusive, shall bear interest at a rate or rates not exceeding five per
centum (5%) per annum, payable semi-annually on June 1 and December 1 of
each year. Said bonds shall mature serially, in numerical order, on Decembe
1 of each year as follows: $5,000 in each of the years 1962 to 1975, inclusive,
and $10, 000 in each of the years 1976 to 1981, inclusive. Both principal and
interest shall be payable at the First Bank of Boynton Beach, in lhe Cily of
Boynlon Beach, Florida, or at The Chase Manhattan Bank, in the Borough
of Manhattan, Cily and Slale of New York, al the option of the holder.
Section 2. Thai there is hereby aulhorized lhe construction
of a municipal civic center building projecl in the City of Boynton Beach
and other purposes necessary, appurlenant or incidental thereto, substanlially
in accordance with final plans and specifications therefor to be approved by
this Council.
Seclion 3. Thai in each year while any of said bonds shall be
outstanding and unpaid there shall be levied, assessed and collected a direct
lax without limilation as lo rate or amount upon all the laxable property in
the Cily of Boynton Beach subject lo laxation, which tax shall be in an amount
sufficient to produce the sums necessary to pay the inlerest on said bonds as
ii 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 lhe "Civic Cenler Bonds Sinking Fund",
which is hereby created and established. The moneys in said Civic Center
Bonds Sinking Fund shall be used only for lhe payment of the principal of and
interesl on said bonds and lhe holders of said bonds shall have a firsl lien
on all such moneys in the Civic Cenler Bonds Sinking Fund until paid out and
applied as provided therein.
Thai said Civic Center Bonds Sinking Fund shall be a special
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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 signatures of said Mayor and City
Clerk; that the validation certificate to be printed on the bonds shall be
executed by the facsimile signatures 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:
UNITED STATES OF AMERICA
STATE OF FLORIDA
COUNTY OF PALM BEACH
CITY OF BOYNTON BEACH
CIVIC CENTER BUILDING BOND;' SERIES 1961
$ 1, 000
KNOW ALL MEN BY THESE PRESENTS: Thai 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 indebte¢
and promises to pay to bearer, or if registered to the registered holder
hereof, the sum of
ONE THOUSAND DOLLARS
in lawful money of the United Stales of America at the First Bank of Boynton
Beach, 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, on the first day of December, 19 , with interest thereon at
the rate of per centum per annum, payable in
like lawful money at the same place semi-annually on lhe first day of June and
the first day of December in each year, until the payment of the said principal
sum, upon presentation and surrender of the annexed coupons as they severall~
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 Treason. ret of the Cily 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 bonds of like date, amount and
tenor, except as to number and maturity, amounting in the aggregate to not
more than One Hundred Thirty Thousand Dollars ($130, 000. 00), and is issued
for the purpose of paying the cost of construction of a municipal civic center
building project in the City of Boynton Beach and other purposes necessary,
appurtenant or incidental thereto, pursuant to the Constitution and Stalutes of
the State of Florida, including particularly the Charier of said City, the same
being Chapter 24398, Laws of Florida, Acts of 1947, as amended, and pursuant
to the approval of the freeholders of said City who were qualified electors, at
an eleclion duly called and held, and pursuant to a resolution duly adopted by
the City Council of said City.
It is hereby certified and recited lhat all acts, conditions and
things essential to the validity of this bond exist, have happened, and have been
done, that every requirement of law affecting the issue thereof has been duly
complied with and that this bond is within every debt and other limit prescribed
by the Constitution and Laws of said State~ thai the full faith and credit of the
Cily of Boynton Beach, in the County of Palm Beach, Florida, are hereby
irrevocably pledged for the punctual payment of the principal and interest of
this bond according to its terms; thai provisions has been made for the levy
and collection of a direct annual tax without limitation as to rate or amount
upon all taxable property within said City sufficient to pay the principal of and
interest on lhis bond as the same mature and become due.
IN WITNESS WHEREOF, the City of Boynton Beach, in the
County of Palm Beach, Florida, has caused this bond to be signed by its Mayor
and its corporate seal to be hereunto affixed and attested by its City Clerk,
and the coupons hereto affixed to: be '~e~ed by the facsimile signalures of
said Mayor and City Clerk, and this bond to be dated the first day of December
[961.
ATTEST:
City Clerk
Mayor
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No. COUPON $
The City of Boynton Beach, in the County of Palm Beach,
Florida, will pay to bearer on the first day of
19 , in lawful money of the United States of America, the sum of
dollars ($ ),
at the First Bank of Boynton Beach, 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, being six months interest
due that day on its Civic Center Building Bond, Series 1961, dated December
1, 1961, No.
City Clerk
Mayor
BACK OF BOND
We hereby certify that we have this day cut off and cancelled
all unmatured coupons attached to this bond, and that the within bond is
hereby converted into a registered bond with the interest thereon payable
semi-annually. Both principal and interest will be payable to the holder
namecLinthe registration blank below, his assigns or legal representatives,
at the times and places expressed on the fact of this bond.
Dated this day of , 19
City Treasurer
City 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 assignment of the register~
owner or his attorney duly acknowledged or proved, such transfer to be en-
dorsed 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.
Date of Register: Name of Registered Holder : Signature of Registrar
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
iFlorida, in and for Palm Beach County, rendered on the day of
, 1962.
City Clerk
Mayor
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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 lhe 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 Counci
in the manner provided by law.
Section 6. This resolution shall take effect immediately upon
its passage.
PASSED and ADOPTED this 18th day of December, A.D. 1961.
(CORPORA TE SEAL)
ATTEST]
Councilman
Councilman
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