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Refunding bonds-1RESOLUTION RESOLUTION PROVIDING FOR THE ISSUANCE OF REFUNDING BONDS FOR THE PURPOSE OF EXCHANGING FOR NOW O~TSTANDING BONES FOR WATER WORKS, IMPROVEMENTS AND REFUNDING BONDS, AGGREGATING THE AMOUNT OF $36?,600.00 WHEREAS at a regular meeting of the Board of Town Commissioners for the Town of Boynton, Florida, held at the Town Hall on Tuesday evening, March 4th, A. D. 1930, a petition signed by a representative group of Boynton Beach taxpayers was presented to the aatd Commission, setting forth among other things, the advisability of a resolution providing for the division of said Town, constituting an East and West side, and stating in s~id Petition a request for an election to be held upon said resolution preparatory to Legislative enactment, and an equal division of the indebtedness of said Town; and WHEREAS at a regular meeting of said Board of Town Commissioners held at the Town Hall on Tuesday April 1st, A. D. 1930, a resolution for contracting the Town limits, and providing for an equal fifty per cent. (80%) division of all lawful obligations of said Town as of April 1st, A. D. 1930, having been read and voted upon, was unanimously adopted, subject to an election; and WHEREAS pursuant to said resolution an election was held on the 14th day of April, A. D. 1930, to decide the question of the adoption of said resolution contracting the Town limits of the Town of Boynton, the division of obligations, and authorizinM the creation of a new Town on the East side, said election returns having been certified by the inspectors of the Commission for said Town on Tuesday evening April 18th, A. D. 1930, designating the voting of said resolution by a maJorit$ of ll8 votes for, and 80 against, there being 2 spoiled blank ballots; and %~EREAS 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 #V56, approved June 10th, A. D. 1951; and, ~tEREAS, the Town of Boynton 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 organization and government thereof; to determine and fix the respective rights and liabili? ties 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 public prop- erty owned by the existing Town of Boynton; and authorizing - the issuance of bonds of the Town of Boynton Beach to refund its proportion of the bonded indebtedness of the existing Town of Boynton assumed by it under this Act." Which said Bill was duly approved by the Governor of the State of Florida on the 15th 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, ($36V,600.00) as evidenced by outstanding bonds and accrued interest, and interest to accrue prior to October let, A. D. 1931; NOW, THEREFORE, BE IT RESOLVED by the Town Commission of the Town of Boyton, Florida, that 1. This Commission does hereby authorize the issuance of 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 let, A. D. 1931. 2. That said Bonds shall be known as "REFUNDING BOND ISSUE OF 1931", shall be dated the let day 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. Three 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 194V both inclusive; Ten (10) of said Bonds shall mature on October 1st of each of the years 1948 to 1957 inclusive; Fifteen (15) of said Bonds shall mature on the 1st of October of each of the years 1958 to 1962, both inclusive; Twenty-five (25) of said Bonds shall mature on October 1st of each of the years 1963 to 1966, both inclusive; 4. Twelve Thousand Six Hundred Dollars ($12,600.00) par value of said bonds shall be issued in the denomination of One Hundred ($100.00) Dollars each, and shall mature as follows, to-wit: Four (4) of said Bonds shall mature on October 1st of each of the years 1938 to 1947 both inclusive; Four (4) of said Bonds shall mature on October 1st of the years 1938 to 1987, both inclusive; Five ($) of said Bonds shall mature on October tst of each of the years 19§8 to 1968, both inclusive; Six (6) of said Bonds shall mature on October~lst of 1966. 8. That said interest on said Bonds shall be pay- able on the 1st days of October and April of each year, and shall have interest coupons attached; that the bonds shall 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 fac-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 substantially ~he following forms UNTTED STATES OF AMERICA TO~.~N OF BOYNTON REFUNDING BOND ISSUE OF 1931 No $ KNOW ALL MEN BT THESE PRESENTS, that the Town of Boynton, a municipal corporation in the County of Palm Beach, and State of Florida, hereby acknowledges itself indebted and for value received promises to pay to bearer on the 1st day of October, A. D. 19 , the sum of Dollars, together with 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 present- ation 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 Boynton, Florida, at the option of the holder hereofe This bond is one of an issue of like date and tenor, except as to date of maturities, aggregating the sum of Dollars, and is issued for the purpose of paying the indebtedness of said Town, pursuant to and in strict compliance with the constitution of Florida and 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 lOth, A. D. 1931, and is issued E ursuant to proceedings of the Town CommissiOn of the Town of oynton, Florida' duly had and adopted. It is hereby certified, recited and declared that 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 it forms a part, together with all other indebtedness of said town does not exceed any debts or other 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 punctual payment of the principal and interest of this 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 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 dated the 1st day of October, A. D. 1931. ToWn '(~ierk 'Mayor (Form of Coupon) No' $ April On the 1st day of October, 191-6-~l-~'Fa the Town of Boynton, in the County of Palm Beach, , 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 Crease 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, 1931. Town Clerk' Mayor V. On the back of each bond shall be stamped, written or printed the following: "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 1931. Clerk' circuit 'O'our't, P'alm Beach County, Florida. $. That the Town of Boynton shall levy and collect from all the taxable property within said Town a tax sufficient to pay such principal and interest as the same respectively becomes due and payable; that all special assessments levied and imposed in respect to improvements a~all constitute a fund for the payment of principal and interest of the Bonds authorized by this Resolution. 9. That the Town Treasurer sh~ll pay from said fund the interest on said bonds as the same shall become due and payable upon the surrender of the coupons representing such interest, and shall pay off the aforesaid bonds at mat- urity upon surrender of said bonds, and shall do such further act in the premises as shall be necessary or advisable to properly protect the interest of the Town rendering to the Commission a detailed report of his transactions, and shall return with the same all cancelled coupons, bonds and any other papers relative to the transactions. 10. Said Bonds shall be issued for the purpose of refunding the now outstanding bonded indebtedness of said Town and shall be used only for exchange at par and accrued interest therefor, whsther such outstanding bonds shall be due or not. Such exchanged bonds shall be cancelled in order to validate such exchange or surrender, if said bonds be sur- rendered. 1!. BE IT FURTHER RESOLVED, That the Attorney for the Town be and he is hereby authorized and instructed to forthwith cause the Refunding Bonds herein provided for to be validated by decree of the Circuit Court of the Fifteenth Judicial Circuit of the State of Florida, as is provided for by law. 12. BE IT FURTHEB 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 or parts of Pesolutions in conflict herewith are hereby repealed. ADOPTED by the Town Commission of the Town of Boynton, Florida, this 18th day of June, A. D. 1931. Mayor ¥ic'e -Mayor Town Clerk As Town Commission of Town of Boyuton, Florida.