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O85-03ORDINANCE NO. 85.-5 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BOYNTON BEACh, FLORIDA AUTHORIZING THE ISSUANCE~ SUBJECT TO THE ELECTION HEREIN PROVIDED FOR, OF NOT EXCEEDING $1,100,0000 BONDS OF THE CITY OF BOYNTON BEACH, FLORIDA, FOR PROVIDING FUNDS, TOGETHER WITH ANY OTHER AVAILABLE FUNDS, FOR PAYING THE COST OF RENOVATING THE CITY HALL IN THE CITY OF BOYNTON BEACH .AND CONSTRUCTING :PARKING FACILITIES TO SERVE THE CITY HALL, TOGETHER WITH ANY EQUIPMENT AND FURNISHINGS NECESSARY OR DESIRABLE IN CONNECTION THEREWITH: AND DECLARING THAT THIS ORDINANCE SHALL TAKE EFFECT IMMEDIATELY UPON ITS ADOPTION. WHEREAS, it is necessary that the City of Boynton Beach renovate the City Hall in the City of Boynton Beach and~ constructing parking facilities to serve the City Hall, together with any eqipment and furnishings necessary or desirable in connection therewith; and WHEREAS, to pay all~ or a part of the cost of the above, it is necesary to issue~the bonds of the City as hereinafter provided; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BOYNTON BEACH, FLORIDA: Section 1. For the purpose of providing funds, together with any other available funds, for paying the cost of renovating the City Hall in the City of Boynton Beach and constructing parking facilities to serve the City Hall, together with any equipment and furnishings necessary or desirable in connection therewith, there shall be issued, subject to the election hereinafter provided for bonds of the City of Boynton Beach, Florida in an aggregate principal amount not exceeding One Million One Hundred Thousand Dollars ($1,100,000), maturing at such time or times not exceeding thirty (30) years from their date or dates as may be determined by'the City Council, and bearing interest at a rate or rates not exceeding the maximum rate then permitted by law, and to be payable from unlimited ad valorem taxes° Section 2. A special election is hereby called to be held on March 12, 1985 in conjunction with the regular municipal election to be held on such date, for the purpose of submitting to the qualified electors of the City the question whether such bonds shall be issued. Section 3. This ordinance shall be read in full at two separate meetings not less than ten (10) days apart and shall at least seven (7) days prior to its passage on second ~eading be noticed once in a newspaper of general circulation in the City of Boynton Beach, which notice shall state the date, time and place of the meeting at which this ordinance, will be passed on second reading, the title of this ordinance, the place where this ordinance ~ay be inspected by the public and shall also advise that interested parties may appear at said meeting and be 'heard with respect to this o~dinance. Section 4. This ordinance shall take effect immediately upon its adoption. FIRST READING this ~ 1985. 12- SECOND READING and FINAL PASSAGE this /~day of CITY OF BOYNTON BEACH, FLORIDA ATTEST-. Ci'ty C~k By Mayor /~~~w~.a~_~ V~ce Mayor ~3a~i I ~ember Member (Corp. Seal) -3-