R01-261RESOLUTION R01- ~!
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY TO ISSUE
1TS PROMISSORY NOTE, SERIES 2001, IN THE
PRINCIPAL AMOUNT OF NOT EXCEEDING
$3,000,000; AUTHORZING THE CITY ~'O
GUARANTY THE OBLIGATIONS OF THE
COMMUNITY RDEVELOPMENT AGENCY UNDER
THE NOTE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, it is the intention of the Board of Commissioners of the Boynton Beach
Community Redevelopment Agency to finance the amotmt of $3,000,000 for the purpose of
providing funds for various community redevelopment projects; and
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA:
Section 1. That the Boynton Beach Community Redevelopment Agency is hereby
authorized to issue its Promissory Note, Series 2001, in the principal mount of $3,000,000,
and having such other terms and conditions as set forth in the form of said Promissory Note
attached hereto as Exhibit "A".
Section 2. Upon issuance of the Note, the Mayor or Vice-Mayor of the City are
hereby authorized and directed to execute the Guaranty of CRA Note in the form attached
hereto as Exhibit "B".
Section 3. That this Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this gq day of September, 2001.
ATTEST:
CITY OF 13OYNTI3N BEACH, FLO ,P~DA
mssion~
Co~iss~on~
Clerk