R05-208
RESOLUTION NO. R05- ~08
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF BOYNTON BEACH, FLORIDA AUTHORIZING THE
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY TO
ISSUE ITS TAX INCREMENT REVENUE BONDS, SERIES 2005,
IN THE PRINCIPAL AMOUNT OF NOT EXCEEDING
$12,000,000; AUTHORIZING THE CITY TO GUARANTY THE
OBLIGATIONS OF THE COMMUNITY REDEVELOPMENT
AGENCY UNDER THE BONDS; AND PROVIDING AN
EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOYNTON BEACH,
FLORIDA, AS FOLLOWS:
Section 1: The Boynton Beach Community Redevelopment Agency (the "Agency") is hereby
authorized to issue its Tax Increment Revenue Bonds, Series 2005A and Taxable Series 2005B (the
"Bonds") in the principal amount of not exceeding $12,000,000, and having such other terms and
conditions as authorized by the Agency's Bond Resolution No. 04-04 adopted December 6, 2004, as
supplemented from time to time.
Section 2: The City determines that it will further a paramount public purpose for the City to
guaranty the payment of the Bonds, and the City shall guaranty the payment of the Bonds. The City
Manager is hereby authorized and directed to execute the Guaranty in the form attached hereto as Exhibit
"A".
Section 3: This Resolution shall take effect immediately upon its passage.
PASSED AND ADOPTED in regular session on this, the 6th day of December, 2005.
(SEAL)
City of Boynton Beach, Florida
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ATTEST:
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