R94-139RESOLUTION NO. R94--/~
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING A PARTIAL RELEASE OF A LETTER
OF CREDIT ISSUED BY CREDIT SUISSE, FOR
FRU-CON DEVELOPMENT OF FLORIDA, INC., IN
THE AMOUNT OF $10,000 THEREBY REDUCING
SAID LETTER OF CREDIT NO. 7126/93 FROM
$35,000 TO $25,000 (BOYNTON LAKES
PLAZA); AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, staff has verified completion of the required
modifications to the Shopping Center buffer wall; and
WHEREAS, the City Commission of the City of Boynton
Beach, FlOrida, hereby authorizes a partial release of a
Letter of credit No. 7126/93 in the amount of $10,000, to Fru-
Con Development of Florida, Inc., and thereby reducing said
Letter of Credit, No. 7126/94, from $35,000 to $25,000.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
~ The City Commission of the City of Boynton
Beach, Florida hereby authorizes a partial release of a Letter
of credit No. 7126/93 in the amount of $10,000, to Fru-Con
Development of Florida, Inc., and thereby reducing said Letter
of Credit, No. 7126/94, from $35,000 to $25,000.
~-~ That this Resolution
effective immediately upon passage.
shall become
PASSED AND ADOPTED this /~ day of August, 1994.
ATTEST:
Ci~ Clerk
CITY OF BO~/NTON BEACH, FLORIDA
e Ma r
Mayo B o
~~~-r
(Corporate Seal)
Authsig.doc
BOy~Lon Lakes.Rel
8/11/94