R03-114
II
RESOLUTION NO. R03- II a.J
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, APPROVING
AND ACCEPTING A LETTER OF CREDIT AND
AMENDMENT NO. 1 SUBMITTED FOR THE PROJECT
KNOWN AS OCEAN CAY, AND ISSUED BY BANK OF
AMERICA (LETTER OF CREDIT NO. 3056469) IN THE
AMOUNT OF $5,997.00; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Boynton Beach, upon
recommendation of staff, does hereby accept the above referenced Letter of Credit, and
Amendment No. 1 to the Letter of Credit in the amount of $5,997.00 as surety for the
satisfactory performance of the sewer improvements for the project known as Ocean Cay.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The City Commission of the City of Boynton Beach, Florida hereby
approves and accepts a Letter of Credit in the amount of $549,093.05 as surety for the
satisfactory performance ofthe sewer improvements for the project known as Ocean Cay.
Section 2.
That this Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this ~ day of July, 2003.
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Commissioner