R97-096 RESOLUTION NO. R97-~
A RESOLUTION OF THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH,
FLORIDA, AUTHORIZING ACCEPTANCE OF
THE LETTER OF CREDIT NO. 97-089, IN
THE AMOUNT OF $97,723.00, ISSUED BY
GREAT SOUTHERN BANK, FOR CONDOR
INVESTMENTS OF PALM BEACH COUNTY,
INC. (CEDAR RIDGE ESTATES); AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, a Letter of Credit, No. 97-089 in the amount of $97,723.00
has been issued by Great Southern Bank as surety for the
installation/completion of public improvements at Cedar Ridge Estates, a P.U.D.,
which Letter of Credit is attached hereto as Exhibit "A".
WHEREAS, upon recommendation of staff, the City Commission deems it
to be in the best interests of the citizens and residents of the City of Boynton
Beach to accept said Letter of Credit.
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 authorizes acceptance of the Letter of Credit No. 97-089 in the amount
of $97,723.00 has been issued by Great Southern Bank as surety for the
installation/completion of the required public improvements for Cedar Ridge
Estates, a copy of which is attached hereto as Exhibit "A".
Section 2. This Resolution shall become effective immediately upon
passage.
PASSED AND ADOPTED this /Z' day of June, 1997.
CITY OF BOYNTON BEACH, FLORIDA
Mayor L., /
Vice Mayor
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Commissioner
Commissioner
ATTEST:
Cit~ Clerk
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