Refunding bondsRESOLUTION
RESOLUTION PROVIDING FOR THE ISSUANCE OF RE-
FUNDING BONDS FOR THE PURPOSE OF EXCHANGING
FOR NOW OUTSTANDING BONDS FOR WATER WORKS,
INPROVEMENTS AND REFUNDED BONDS, AGGREGATING
THE AMOUNT OF $367,6000,00
WHER~S at a regular meeting of the Board of Town
Commissioners for the Town of Boynton, Florida, held at
the Town Hall on Tuesday evening, March ith, A D 1930,
a petition signed by a representative group of Boynton
Beach Taxpayers was presented to the said Commission, setting
forth among other things, the advisability of a resolution
providing for the division of said Town, oonstitung an
East and West side, and stating in said Petition a request
for an election to be held upon said resolution preparatox'y
to Legislative enactment, and an equal division of the
indebtedness of said Town; and
WHEREAS at a regular meeting of said Board of Town
Commissioners held at the Town Hall on Tuesday April
A D 1930, a resolution for contracting the Town limits~
and providing fc~ an equal fifty per cent (50%) division
of all lawful obligatio~ of said Town as of April lsts A D
1930, having been read ar~l voted upon, was unanimously
adopted, subject to an election; and
WHEREAS pursuant to said resolution an election was held
on the 14th day of Aprils A D 1930, to dedide the question
of the adoption of said resolution contracting the Town
limits of the Town of Boynton, The division of obligations,
and authorizing the creation of a new Town on the East side,
said election returns having been certified by the inspectors
of the Commission for said' Tewn on Tuesday evening April 15th,
A D 1930, designating the voting of said resolution by
majority of 118 votes for, and 50 against, there being
2 spoiled blank ballot s; and
WHEREAS pursuant to said resolution a Bill for the
enactment of said Legislation to carry out the terms
thereof was prepared and enacted by the Legislature of the
State of Florida, under Senate Bill #V36, approved June
10th, A D 1931; and
WHEREAS, the Town of Beynton Beach, Palm Beach County,
State of Florida was created by virtue of an Act of the
Legislature of the State of Florida, known as House Bill
~653, and entitled "An act to provide for the creation of
a municipal corPoration to be known as the Town of Boynton
Beach, in Palm Beach County, Florida, to fix and determine
the territorial limits thereof, the Jurisdiction and powers
of said Town and its officers; to provide for the organ-
ization and government thereof; to determine and fix the
respective rights ar~ liabilities of the existing Town
of Boynton and the Town of Boynton Beach, as created by
this Act, in respect to the existing indebtedness of the
present Town of Boynton and p~blic property owned 0y the
existing Town ef Boynton; and authorizing the issuance off
THE Town of Boynton Beach to refund its proportion of the
bonded indebtedness of the existing Town of Boynton assumed
by it u~er this Act" Which said Bill was duly approved
by the Governor of the State of Florida on the lSth day of
May, A D 1931; and whereas by Legislative enactment the
said Town of Boynton and the newly created Town of Boynton
Beach each are lawfully indebted in the sum of Three
Hundred Sixty-seven Thousand Six Hundred Dollars, as
evidenced by outstanding bonds and accrued interest, and
interest to accrue prior to October 1st, A D 1931;
NOW, THEREFORE, BE IT RESOLVED by the Town Commission
of the Town of Boynton, Florida, that
1 This Commission does hereby authorize the issuance cf
Refunding Bonds of the Town of Boynton, Florida, in the
total aggregate amount of Three Hundred Sixty-seven Thousand
Six Hundred Dollars, ($36V,600 00) and accrued interest,
and interest to accrue prior to October 1st, A D 1931
2 That said Bonds shall be .known as "REFUNDING BOND
ISSUE OF 1931", shall be dated the 1st d~g of October, A
D 1931, shall bear interest at the rate of six per cent
~6%) per annum, interest payable semi-annually, and shall
be payable at the Chase National Bank of New York City, or
at the office of the Town Treasurer of the Town of Boynton,
Florida, at the option of the holders thereof
3 Tt~Ree Hundred Fifty-five Thousand DOllars par value
of said Bonds shall be issued in denominations of One
Thousand Dollars ($1,000 00) each, and shall mature as
follows, to-wit..
Eight (8) of said Bonds shall mature on October 1st
of each of. the years 1938 to 1947 inclusive;
Ten (10) of said Bonds shall u~ture on October 1st
of each of the years 1948 to 1967 inclusive;
Fifteen (16) of said Bonds shall mature on the 1st
of October of each of the years 1968 to 1962, both
inc lus ive;
Twenty-five (25) of said Bonds shall mature on October
1st of each of the years 1963 to 1966, both inclusive;
-$ Twelve Thousand Six Hundred Dollars ($~2, 600 00)
par value of said bonds shall be issued in the denomination
of One Hundred ($100 00) Dollars each, and shall mature as
follows, to-wit'.
Four (4) of said Bonds shall mature on October 1st
of each of the years 1938 to 1947 both inclusive;
Pour (4) of said Bonds shall ma~ure on October
of the years 1948 to 198~, both inclusive;
Five (8) of said Bonds shall mature on October 1st
of each of the years 1988 to 196§, both inclusive;
Six (6) of said Bonds shall mature on October
of 1966
,5 That said interest on said Bonds shall be payable
on the 1st days of Octo0er and April of each year, and
shall have interest coupons attached; that the bonds
s~all be signed by the Mayor and Clerk of the Town of
.Boynton, Florida, under the seal of said Town, and the
interest coupons shall be signed by the fao-simile
signatures of the Mayor and Town Clerk, and that both
principal and interest shall be payable in gold coin of
the United States of America of the present standard of
weight and fineness
6 That said Refunding Bonds shall be issued in sub-
stantially the following form:
UNITED STATES OF AMERICA
TOWN 0P BOYNTON
REFUNDING BOND ISSUE
0P 19;51
$
KNOW ALL MEN BY THERE PRESENTS, that the Town of Boynton,
a muniotpal corporation in the County of Palm Beach, and
State of Plorida, hereby acknowledges itself indebted and
for value received promises to pay to bearer on the ls$
day of October, A/ D 19 ~ the sum of Dollars,
togethe~ith interest thereon from the date hereof at the
rate of six per cent (6%) per annum, payable semi-annually,
on the first day of April and October in each year, upon
presentation and surrender of the annexed interest coupons
as the same respectively mature; both principal and interest
being payable in gold coin of the United States of
America of the present standard of weight and fineness~
at the Chase National Bank of New York~ in the City of
New York, and State of New York, or at the office of the
Town Treasurer of said Town, in said Town of Beynton,
Florida~ at the option of the holder hereof This bond
is or~ of an issue of like date and tenor, except as to
date Of maturities, aggregating the sum of Dollars,
ar~ is issued for the purpose of paying the indebtedness
of said Town, pursuant to and in strict co,,,pliance with
the constitution of Florida nad the statutes of Florida~
including among others, Senate Bill V36 of the Laws of
Florida, 1931, duly approved by the Governor of the State
of Florida on June 10th, A D 1931, and is issued pursuant
to proceedings of th~ Town Co~nission of the Town of
Boynton, Florida~ duly had and adopted
It is hereby certified, recited and declared tnat all
acts, conditions and things required to exist, to happen
and to be performed, precedent to and in the issuance of
this bond, exist, have happened, and have been performed,
in due time, form and manner as required by law$ that
this bond and the issue of which in forms a part, together
with all other indebtedness of said town does not exceed
any debts er otter limits prescribed by the constitution
and laws of said State The full faith and credit of the
Town of Boynton, Florida, are hereby pledged to the punc-
tual payment of the principal and interest of t~is bond
according to its terms
IN WITNESS WHEREOF, the said Town of Boynton has
caused this bond to be signed in its name by its Mayor
and Town Clerk, and sealed with the corporate seal of
of said Town, and the interest coupons hereto annexed to
be signed with the fac-simile signature of its Mayor
and its Town Clerk, and this bond to be d,~ted the 1st
day of October, A D 1931
Tow~ Clerk
Maybr ~
(Form of Coupon)
No
~ ' ~ April
On the 1st day of October, 19.._.__, the Town of Boynton,
in the County of Palm Beach, Florida, will pay to the bearer
the sum of Dollars in gold coin of the United
States of America of the present standard of weight and
fineness at the Chase National Bank of New York, in the
City of New York, and State of New York, or at the office
of the Town Treasurer of the Town, in said Town of Boynton~
Florida, at the option of the holder, being six months
interest then due on its "REFUNDING BOND ISSUE OF 1931"
dated October 1st,
-- T'OW~ Clerk .... ~ Ma~or
7 On the back of each bond shall be stamped, written or
printed the following:
eValidated 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 1931
Clerk-' ci're'uit ~-o~r t,' Palm Bea'c~
Florida
8 That the Town of Boynton shall levy and collect £rom
all the taxable property within said Town a tax sufficient
to pay such principal and interest as the same respectively
becomes due and pa~able; t~t all special assessments
levied and imposed in respect to improvements shell
constitute a fund for the payment of principal and interest
of the Bonds authorized by this Resolution
9 That the To~n Treasurer shall pay from said f~nd
the interest on said bonds as the same shall become due
~nd payable upon the surrender of the coupons represent-
lng such interest~ and s~ell pay off the aforesaid bonds
at maturity upon surrender of said bonds, and shall do
such ft~ther act in the premises as shall be necessary or
advisable te properly protect the interest of the Town
rendering to the Commission a detailed report of his
transactions, and shall return with the same all concelled
coupons, bonds and an~ other papers relative to the
tr&nsactions
10 Said Bonds s~all be issued for the purpose of
refunding the now outstanding bonded indebtedness of said
To~n ~nd shall be used only for exchange at par end accrued
interest therefor, whether such outstanding bonds ~11 be
due or not Such exchanged bonds shall be c~ncelled in
order to velldate such exchange or s~render~ if said
bonds be surrendered
1l BE IT FURTHER RESOLVED, that upon the validation of
the Refunding Bonds herein provided for, the Clerk of the
Town do cause said bonds and coupons to be printed and
executed in full accordance with the provisions of this
Resolution
13 That all resolutions cr parts of resolutions in
conflict herewith are hereby repealed
ADOPTED by the Town Commission of the Town of Boynton,
Florida~ this lSth day of June, A D 1931