Minutes 02-06-34REGULAR k~EETING OF FEBRUARY 6, 1~3~
A Regular Meeting of the Board of To~ Co~missioners of the
Town of Boynton, Florida, was held at the Town Hall on Tuesday
evening, February 6, 1934 at 7:30 o~clock
Present: ~.~ Menzel, V~ce-~ayor
J. Po Bowen, Town Clerk°
The above constituting a majo_mty of the Board of Town
Co~u~_~ssioners of the Town of Boynton, Florida.
The ~mnuoeo of the Regular Meeting held January 16, 1934
were read and approved upon motion made by Commissioner Bowen,
seco_.mem by Conm~issioner Menzel and duly carried.
The Line,es of the Special Meeting held Janu~ary 24, 1934
were rea~ and approved upon motion ~de by Co~_issioner Bowen~
seconded by Con~.mlssioner Menzel ~ad duly carried.
Upon motion made by Commissioner Bowen, seconded by
Co~missioner Menzei am~ duly carried, the following bills were
approved for ~
p~ymen~ when funds become available:-
~&ustin Supply Co 2V.~3
Sou. Bell Tel Co 9,05
Fla~ Power & Light Co B~l.21
Nutting~s Fll'lng Sta 28.79
A Certz~zca~e of Indebtedness in t~e amo-~u~ of Four
Hundred ~ineteen and 03/100 Dollars ($419.03) i~ favor of th~
Florida Power & =mgh, Co. covering unpaid balances of zndebtednes~
on account of electric power & energ~ furnished the Town by Fla.
~ ~ J~ne 1933 to D~ce~oer
Power & L_gh~ Co. from IV,
inclusive, which was presented for consideration, was oabme~.
Commissioner Bowen moved the ~doption of the following
R E S 0 L U T i 0 N
A RESOLUTION PROVIDING FOR THE ~SUA~MCE
OF BONDS OF ='-'h~E TOV~ OF BOYNTON~ FLORIDA,
iN THE A~0~ OF THREE h~JNDR~ EIGHTY
NIh~E THOUS~D NiNE ~DRED DOLLARS
. ($389,900.00), FOR THE PURPOSE OF
ING FOR 0D~SSTAI~DING BORrDS OF SAID T0~N
0EDER TO REFDR~D ~ ~
~RT~a.iN OBLIGATIONS OF
SAID T~&~N, FOR THE P~T OF ~HIC~ ITS
CP~DIT IN THE. FORM OF IMPROV~ENT BONDS
AND REFU~-D_NG B0.h~DS, TOGET,h~R ~ITH
DUE AND ACCRUED INTEREST, ISSD~ED BY SAID
TO'~N, IS PLEDGED~ P.~ESCRIBING THE FORM
AND ~'A~T~-RITi~ OF SAID BO~DS TO BE SO
ISSUER AND PROVIDING FOR T~E LEV~ OF
TflX TO CREATE A SI~ING ~'uND FOR T~
PAY~ENT OF T~ PRINCIPAL AkVD INTEREST
OF SAID BONDS,
~w. EAS, at a regular meeting of the To-~u Con~nission
of the Town of Boynton, Florida, held at tb~ Town Hall of said
tovm on Tuesday evening~ E~roh 4th, A~D. 1930, a petition
signed by a representative group of Boynton Beach taxpayers was
presented to the said Co~nnission, settir~ forth, among other
things, a request t~t said Co~uission prepare for adoption such
legislation as may be necessary to pro¥ide for the exclusion
from the corporate limits of the Town of B~ton, Florida, all
the property within said Town lying East ~f the Center Line of
the righ~-of-way of the Inla~_~Naviagation C~l, said property
to be excluded to assuage and discharge fifty per cent ~50%)
of alllaw~.l lndebtedaaess of the Totem of Boyntcn, Florida,
v~nether evidenced by bonds or otherwise, for which ~he Town of
Boynton, Florida~ was obligated on the let day of April
19GO~ provided~ however, said total indebtedness shall be credited
with all s~s of money collected by the Town of Boynton from the
State or Stat® Road Department, and further that an election
be he~ upon such legislation by the Town Commiseion preparatory
mg
to Legislative enactment by the Legislature of the State of
Florida$ and
~qER~, at a regular meeting of said Town
Commission hei~ at the Town Hall of said To~, on Tuesday
lng, &pril let, A.D. l~O, a Resolution providing for th~ ex-
clusion from ~the corporate limits of the Town of Boynton, Florida,
all the property within said Town lying East of the Center Line
of the right-of-way of the ~ul~ud Navigation Canal, ea~ property
to be excluded to assume and ~scharge fifty per cent (50%) of
all lawful indebtedness of the Town of Boynton, Florida, whether
evidenced by bonds or otherwise for which the Tov~of Boynton,
Florida, was obligated on the 1st day of ~ A.Do 19305
orov~a~d,_ '~ however, said total indebte~uess s?~ll be credited
with al~_ sums of money collected by the Town of moy~ ..... ~t~, Florida~
from the State or State Road Department, having been read ~d
voted upon, was unanimously adopted, sm~t to an election to
be held in and for the Tovm. of Bo~t~_. on,~ F19rida, on the 14th day
of &pril, &.D. 1930, at whiche~c~=on~ ~-' was submitted to all
653,
the ~alified_ e~c ~o.~s of the To~n of ~ ~ ~
Boyn~on, who owm
property therein, the q~e~io__ a~to wh~ther or not the
provision~ of said Resolution should become legg[ and binding
upon each and all of t?~ ir~abit~uts s~d taxoayers_ of *~
· own of Boynton, Florida, as then constmzuted$ and,
%~ERF~A~ .pursuant to said Resolution an
el~ction was held on the 14th day of April, ~.D. 1930, to de-
cide the question of the adoption of said Resolution contracting
the Town Limits of the Town of Boynton, Florida, the
division of obligations ~nd authorizing the c~eztion of th*
n~w To~ ~f Boynton Beach, said ~lectlon r~t~ns having been
certified by the ins~ctors ~ud Clerk of said electio~ to the
To~ Commission of said To~ ~t a R~gular N~eti~ of said
Co~issio~ held on Tuesday evening, April 18th, k.D. 19~0,
desig~t,d th~ approval of said R~solution by a majority of
ll8 votes for ~d 50 votes against, ther~ being two spoiled
ballots ~
%~R~, pursuant to said Resol~ion a Bill
for the ~nactm~nt of said Lsgislation to car~ out th~ te~s
~of was prepared ~nd enacted by the Legislatur~ of tbs
State of Florida, ~der Ser~te Bill No. ~8, approved J~e
10th, 19~l, the s~me bei~ C~apter 18088 of Special ~.cts of t~
Legislat~e of the State of Florida, 1951~ ~
V~E~D~, the Town of Boynton Beach, Ps2m Beach
Co~ty, State ~ Florida, was created by vi~¢ue 0f ~u Act of tb~
Legislat~e of th~ State of Florida, ~o~ as House Bill No.
the same bei~ ~pter 15088%~f Special Acts of the ~gislature
of the State of Florida, 19~l, entitled:
~D~ ACT T0 PROVIDE FOR T~ CP~ATiON Q~ A ~I~ICiP~
CORP0~TION T0 BE I~0~N AS Ti~ TO~ 0F BOYNTON ~CH,
IN P~E BE~ COU]~Y, ~0R~A, T0 FIX .%~ DETERNiNE~
T~E T~R~0Ri~ L~:iITS THEREOF, THE ~JRISDiCTION
~D P0%~RS 0P SA~ T0~z~ A~ iTS 0FFiC~8~ TO PROVIDE
FOR Th~ 0RG~TIZ~iON .~ G0~%]~ TA~0F~ T0
D~E~iNE ~%h~ PiX T~ RESPECTiyE RiGi~S A~ Li~I~
T~ 0F ~E w~ISTiNG TOV~ 0F BOYNTON AND T~ TOV~ 0F
BOT~TON B~, D~S C~TED BT THIS ACT, ~- RESPECT T0
THE EXISTING INDEBTEDI~SS 0F ~HE PRESE~ T0~ 0F
B0¥~0N ~ND PUBLIC PROPER~ 0~-NED ~ TI~ EXISTING
TOWN OF B0~vNTON$ AlqD AUT~0RIZING THE ISSUANCE OF
BONDS OF THE T0~N OF BOYNTON BEACH TO REFLrND ITS
PROPORTION OF THE B~NDED Ih~DEBTED~XESS OF ~E
~IISTING TO~N OF BOYNTON ASS'u~ED BY IT UNDER THIS ACT~
which said Bill was duly ~.pproved by the Governor of the State
oF Florida on the 15th day of ~ay, ~.D. 19315 mud the said
Town of Boynton, on the 1st day of ~.pril, ~oDo 1930, was law-
fully indebted as follows:-
l. ~Re~uding, Water ~orks a_nd Street Bonds"',
dated October l, 1923, bearing interest
at six per centum per s_~m,mm., ;maturing
serially, of w~Ch issu~ there was out-
standing and ~paid $85,000.00 in prin-
cipal ~ount, together with ov~rS~e and
accord inter~st in the s~ of
2. ~aprovement Bonds~ dated October l, 1924,
b~aring interest at six per cent~ per
a~, maturi~ serially, of which issue
there was outstanding ~d unpaid~l~y000.O0
in the principal amount,
overdue and acceded znter~st in ~e
~ of ~9,300.00~
3. ~provement Bonds, issu~ of June l, !928~,
dated June l, 1926, bearing inter, st at
six per cent~m per ann%~, maturing serially,
of which issue there was outsbznd~g and
unpaid $51,000~00 in orincipal
together with overdue' and acc~ed interest
in the sum of
~ ~improvament Bonds, Issu~'of 1928~, da2ed
October l, 1928, bering inter~t at six
per cent*%~ per ~un~, ~turing¢serially,
of which issue there was outstandi~ m~-
,~upaid $135,000.00 in principal
together with o~due ¢ accrued interest
in the s'mm_ of $11,VO0.00.
n Serie~ B~, dated October
5, z_ef*~udi._g Bonds,
i, 1928, bearing interest at *mix ~r oent,~ per
there was outstmading sm.d ~upaid
$315,000.00 ~ principal ~o~t, together
witb~ ovsrdu~ and mcc~ed interest in the
su~ of $18,900,00.
'~iF~RE~S, by Legislative enactment the newly created
Town of Boynton Beach assumed fifty per cent (50%) of all law-
ful ir~ebtedness of the Town of Boynton, w?nether evidenced b~
bonds or otherwise, for wh~n the Town of Boynton was ob~ igated
on the 1st day of April, A. Do 19~0; which mndebtednes~ ass'~ed
by the Totem of Boynton Beach was as follows:-
~Re~uding, Water Works ~ud Street Bonds
dated October l, 1923, bearing interest
at six per cent~m per a~um, maturing
serially, of whic$ issue there was out-
s~andmng and unpald, ap~o~moned t? the
Town of Boynton Beach, $42,800.00 ~n the
principal amount, together with overdue
and accrued interest in the sum of
~Improvement Bonds~, dated October l, 192~,
bearing interest a~ six per centum per
~un~, ~turing serially, of ~dmich issue
there was outstandir~ and~_upaid, a~por-
tioned to the To~ of ~ ~ ~
Boy~o~ Beac~
$50,000°00 in the principal amount,~
~ogether with overdue and accrued interest
in the s~m of $4,500°00.
~improvement Bonds, Issue of June l, 1926~,
d~ted June l, 19~6, bearing interest at
s~x per oentum per ~nnum, r~turing serially,
of which issue there was outstandir~ ~d
unpaid~ apportioned to the Town of Boynton
Beach, $2~,500~00 in the principal amount,
together with overdue and accrued interest
in the s~m of SF,O!O.O0. ·
"Zmprovement Bonds, issue of i926~ dated
Octobe~ l, 1928, bearing interest at six
per cent,~n per ar~o~ maturing serially,
of which issue the~]was.outstanding and
unpaid,~apportioned~bo t~e Town of Boynton
Beach, ~8V,500o00 in the princioal amount,
together with overdue and accrue& interest
in the s~. off $5,850.00. ~
"Ref~uuding Bonds, Series B~, dated October
l, 19~8~ bearing interest at six per centum
per sanson, maturing serially, of which
issue there was outsta~uding and unpaid~
apportioned to the Town of Boynton Beach,
$187,500.00 in the principal amo~mu~, to=
gether with overdue and aoc~ed interest
in the sum cf $9,450°00.
The existing Town of Boynton being liable for the remainder of
said ir~ebtedness, which was as follows:-
me
~Refunding, Water Works and Street Bonds~,
dated October l, 1923, bearing interest
at six per centum per am~um, maturing
serially, of which issue there was out-
standing and unpaid, apportioned to the
Totem of Boynton, $42,500.00 in the prin-
cipal amount, together with overdue and
accrued interest in the sum of $3,825.00.
~mprovement Bonds~, dated October l, 1924,
b~earing interest at siz ocr centrum per annum,
maturing serially~ of which issu~
there was outstanding and unpaid$ apportioned
to the Town of Boynton, ~50,000.00 in the
principal amount, together with overdue and
accrued interest in the sum of $4,500.00.
~9~6 ,
Imp_ovem~nt Bom~, Issue of June ~
bear_rig
dated J-mue l, 19~6, ~ interest at
six per centum per annnm, maturing serially,
of ~nich issue there was outstanding and
unpaid, apportioned to the Town of Boynton,
$25,500.00 in the principal amouut, together
with overdue and accrued ~nterest in. the sum
of ~2~010.00.
~I~.provement Bonds, Issue of !9~6w, dated
Octobe~ l, 1928, bearing interest at six
per cent~-m per m3..~um,~Maturing serially,
~f which issue there was outstanding and
unpaid, apportioned to the Tow~. of Bo~mton,
~6~,500.00 in the principal a~fount, together
with overdue ~am~_d accrued interest in the
of ~5,850.00.
~Re~nding Bonds, ocr_es Bm, dated October
~,~ 1~28, b~armng interest at six Hr centum
per ~un~, matu~ rang serially, of which
ssm~ there was outstanding and ~paid~
apportioned to the To~ of Boynton,
$i8~00o00 in the principa! amo~ut,
together with overdue ~ud acc~ed interest
in the s~m of SG~0.00o
since the let day of Aprz~, A.D. 19~0,
the Town o£ Boynton, Florida, has collected the sum of
the State Road Pepartment of the State of
Fiorida¢ wn~cn sum ~ was agreed should be credited on the
total ~nd~b~ed~uess for whzcn the Town of Boynton, F±orzda,
was obl~gat~m on the let day of ~ril, ~.D. !9~0; and
~qER~8, between the 1st day of ~&pril, A.D. 19~0,
and the let day of J~aua~y, A.D. 19~1, the ~own of Boynton,
¢
~orida, collected from ad valorem taxes of said Tov~ the sum
of $21¢~80.00, which money was used to meet ~ud discharge the
interest, which beene due du~ing the calendar year i9~9~
bonded znd~btedness of said To'ma; and
o~
since the 1st day of January, A~D. !9~1,
the Tov~n of Boynton, Florida, has r~tired bonds of said Town
' ' ooo.oo,
in the .principal amount of ~ a~r~m interest on the
bonded _ndeo~emness of said Town ~m the sum. of $8,930.00~ and
~I~ERF~ the Town of 'Boynt~n, Florida~ is lawfully
~n~_eote~ in the sum of TH~E ~u~R~ NiN~ff THOUSAND POD~ n¢~u~..,
NINE~ FIVE DOL~RS ($390,~95.00) a~ evidenced by o,~tst~nding
and ~paid bonds, together w~t.~ overdue and accrued interest,
and interest to accrue pr~_o~ to April l, D~D. 1~4, ~_ore par-
ticularly
sho~ as follows:
~Refundlr~, ¥~ater ~orks and Street Bonds~
dated October l, 192Z, bearmng zn~er~st at
six per center, per anm_um~ maturi~ serially,
of which issue there is outstanding and unpaid,
apportioned to the Town of Boynton, $33,500°00
in the principal amount, together with overdue and
accrued interest in t~he sum of $8,205.00~
~improv®ment Bonds~, dated October i, 1924,
bearing interest at siXper cent~m i~r annum,
maturing serially, of which issue there is
outst~ading and u~paid, apportioned to the
Town o£ Boyntcn, $50,000~00 in the principal
amount, together with overdue and accrued
inter~st in the sum of $12,000~00.
t!Improvement Bonds~ Issue of June i, 1928~,
dated June i, 1926, bearing interest at ~ix
per centum~r a~J~Ey~, mat~ing serially, of
which issue there is outstanding and unpaid;
apportioned to the Town of' Boynton~ $~,~00.00
in tP~ principal amoimt, together with over~
due and aoc~ed interest in t~ sum of $5,850°00.
~Improvement Bonds, Issue of 19~6~t, dated
October l, 19~6, b~aring interest at six
per c?nt~E ~r a~m, marrying serially,
of which issue there is outstanding ~ud
unpaid, apportioned ~o ~h® To~ of Boynton,
$66',500~00 in the prmnczoal ~o~t, together
with over~.e and ace~ed interest in the
~tml of $16,350,00.
~?Refunding Bonds,~Series B~:, dated October
l, 1928, bearing interest at six per centre
per annum, maturing serially~ of which ~ssue
there is outstanding and unpaid, apportioned
to the Town of Boynton, ~14~,000.00 in tb~
principal amount~ together with over~ and
accrued inter~st in tt~ s~ of $28,590,00.
there is only the s~ of $5~5o00 in the
Treasu~'v of said Town of Boynt on, Florida~ applicable to the
pa~tuuen~ of ~h~ indebtedness b~rei~bove set forth, evidenced
by bonds, together with overdue and accrued ir~erest thereon,
which are outstar~ing and unpaid, and no ~pther funds hre avail-
able for tb~t purpose, except the said sum of $ 595°00 as here-
inaoove stated, and b and holders, who o~ a.od control
all of the ind~bteoia~ss aforesaid and appurtenant coupons and
ssion of thc To~ne of Boynton, Florida, agreeing to surrender
all o~ said .naeb~edness as herem.~above set forth, or
deliver to the Town ~uy neoeasary releases or discharge from
smid zndeb.~emness for the other portion of s~d _ndebteaness
so h~!miby said o~ers and holders and that they, the sa~d
ov~ers and ho!ders~ will look to the To~ of Boynton Beach,
Florida, Fom th~ pa~UUent of t~ balance owing them, in aocord-
ance with the Charter of said To~ and the statutes relating
thereto, in excD~nge for re~udingbonds of the Town of Boynton
in full settlement and satisfaction of the lmab~ity of said
Town of Boynton to ~nem, sub~ec~ to the following conditzons:-
(a) The total amount of the refun~r~ bonds to be
e~lvere~ by the Town of Boyn~on ~o sa~d owners and
holders shall be in the s~ of $~8~,900.00, the
face value of said bonds.
(b) Sa~ bonds sha_l be dated April l, 1~8~, mud sb~ll
maturo tn~r,y-f~ve (~$) years from date~thereof~
Said bonds shall bear interest at the following
rates: T~hree (~) per centum per~TM for the first
five years~ fou~~ (4)
five yeams~ five~[5)
five years; and six
per centum per a~m~zum for the nex~
p~r cent~n p~r m~uum for the nex~
(8) per cen~Bum per argus for t~he
remaining twenty years~ said imterest shall be payab!~
semi-ar~nually on the first da~s of April and~October
cf each and every year~ and shall be evidenced by
coupons attached to said bonds ~n the usus± form.
such bonds to be callable at any time three years (3)
after date of issue upon the payment of principal and
accrued interest; such sir~ing f~d may also be used
to ~GrcD~se bonds of such issue at any price less than
at the option of tlne to~m officials~ but, if such
~e not so used, they shall be held intact and preserved
for the ultimate retirement of such bo~s. The Town of
Boo. ton sh~ll also agree to pay into such sinkir~E ~nd
all moneys collected by it from taxes heretofore levied
by it upon property now within its boundaries. ~d also
all sums collected from special assessments heretofore
levied by the said Town upon property now within its
~oundaries~ ~ud any s~~s received fr~m the resale of
property, title to which may be acqt~ired by the To~ of
Bo~ton ~uder tax sales or sales resulti~ fro~ the
foreclosure of s~eoial assessments and used for t he
purposes hereinabove set forth~ provided, however~ tb~t
the Town may pay the costs and expenses of s~y proceedin~
instituted for t he foreclosur~ of any tax certificate or
lien of any special assessment, s~ect to the control
~of a m~jority of the holders of said Refunding
from such funds so
Such bonds are to be validated ~y the To~ of Boynton
in the Circuit Court of Palm Bea~ County, Florida, in
accordance with the laws in such cases ~ade and provided.
aD~ the Town shall furnish, prior to the delive~ of such
bonds, an opinion by an attorney who~is recognized as an
authority upon municipal bonds, and whose opinion is
generally acceptable upon such subjects, duly approving
the validity of the proceedings leading up to and
culmir~ting in the issue and delivery of such bonds.
The City of Boynton, Florida, Bondholders Protective
Committee, representing owners and holders of Town of
Boynton, Florid~ bonds ~ud t~ Palm Beach Company, the
owners and holders of Town of Boynton, Fiorida~ bonds,
agree to pay one-third (1/~) of the expenee n~cessary to
obtain the approving opinion above referred to~
%~ken the new bonds are ready for delivery and have bee~
validated and approved, as above set forth, the Tov~n will
deposit the same, duly executed, with the Central Trust
Company of ~ ' ~' Ohio or some ot~er agency which
may be designated by the City of Boynto~ Florida,
Bondholders Protective Co~_~mr~ittee and the Palm Beach
for delivery to them as well as to any other holders of
bonds ~ud other security to be refu~ded~ to be exchanged
for a corresponding release of the outstanding obligations
of said Tow~ held by them~ ~And,
~g~EwF~&S, in the judgement of the T~w~ Co_~_~aission of the
Town of Boynton, Florida, it will be for the best interests of
said To~a~ as w~ll as for t~.. bes~ interests of all of the
taxpayers of said Town, to accept said offer and refund said
ir~debtedness at a lower rate of interes~ snd extend the time
of payment of
NOV~, THEREFOEE~ BE~ RES0~V~D~ ~ BY THE TOV~N C0~¢~iSSiON
OF THE T0~ OF BOY~0~, IN P~ BEA~ COL~,
Section l, That said offer be and the s~ hereby
is accepted, and that pursuant to the Constitution and Statutes
of the State of Florida, including ~ong others CP~pter 15VV2,
Laws of Florida, 193!, bombs of the said Town of Boo. ton, Florida
be issued *~ the amount of T~EE ~DR~ EIGH~ NiNE THOUSA~
r ~ 900.00) for the ~rposes r~ferred
NINE ~D~ DOr~R~ ($389, ,
to and set forth in the pre~mble of tD~s Resolution.
Section 2. Tb~t said bonds snal~ bc in the denomir~tion
of ONE THOUS~D DOL~ ($1,000.00) each, zo be kmown and
designated as S~S A, of which d~nomznat~on ther~ sb~.ll
THR~ A%%~RED SEV~ITY S~ ~3~6) bonds, n~be~d
t~HR~ h~ S~E~Y S~ (3V6), both mnclusive; F~ ~J~R~D
DOI.V~RS ($500.00) each, to be l~own and designated as S~EIES B,
of which menomzna~on there ~nall be S~ENTEEN ~, ~ bonds,
n~bered from 0~ (1) to S~N (1V), both i~
ONE HU!~P~D DOLLARS ($100,00) each, to be ~ov~m and desisted
as SERIES C, of w_~cn denom~natmon there sP~ll be F~R~ff S~EN
(4V) 'oond~, n~bered from 0~E%z) to FOR~ EN (4V), both
inclusive; and Fi~' DOL~ ($50.00) -
ceszg~ted as S~iES D, of wS~cn ~nommnation there shall
FOURT~ (14) bonds, numbered from 0~ ~l)~%o FOURTE~f: (14),
both inclusive, all of said boD~s shall be dated ~ !s'2 day
of kpr_!, 1934 ~ud said bonds s~il ~ ' ~''
years after date thereof, but sbm!! be subject to redemption
at the option of the Tov~, at par and accrued interest on any
interest payment date prior to ~zturlty~ on or after April l~
l~3V. Should the Town choose to exercise the option to redeem
said bonds, notice of ~nten~ion sna!~ be g~ven ninety ~90~ days
before any ~nterest payment date~n~ the manner hereinafter set
sa_d bonds s~ b~ve the privilege of
forth, ~ud the holder of ~ ~ ~
w~h_n th~r~y (30) days after
tendering said bonds for payment ~ ~ ~ ~ ~
puo~mo=tmon of the not_ce at such price below par ~ud acc~ed
interest as may be n~ed in the tender~ ~hould no tenders be
received the sa~d bonds will be redeemed by lot in b
as ~y be determmn~ by the Town ~ormmmssmon of the Town of
Boynton, Florida~ Eotioe to redeem said bor~s shall be given
by one publican_on of sa~d notice prmor to t date set for
r.e~mption in a financial ' ~
jourr~ or newspaper of general cir-
culation in the United States of~ner~ca,~ ~ published in the City
of New York, New York, and b~ filing a written copy thereof at
the place of payment her~mn specmfmed, which publication and
filing shall be made at least forty-five (~8) days prior to t~_e
~ ~ and which not~ce shall state the date
dat~ set for ~edempt~on,
set for redemption and the numbers of the bSnds so to be redeemed
On ar~ after the date fixed for redemption, interest on.the bonds
so redeemed sb~ll cease, provided adequate f'~uds for the redemp-
tion of said bonds she1! b~ve been depo~xtem at tD~ place of
payment of same as herein provided, on or.~efore the d~te so
fixed for redemption.
Section 3. That
at the rate of three (~)
five
(3) years
said bonds s~!l bear interest
per centum per a~uu~n for the first
from the date thereof$ four (~) p~r centum per
annum for the seeond Fiv~ (8) years from the date thereoF;
five (5) per centum per annum for the t~hird five (5) years
from the date thereof~ and six (6) per cent~ per ar~m for
the remaining twenty (20) years; said interest b,ing payable
semi-ar~uuatly on the first day of October and ~pril of each year.
Section 4. That both principal and interest of
said bonds s~ll be pay~ole in lawful money of the United States
of America at th~ Central Hsaaover Bar£~ and Trust Company in the
City of New York, New ~ork, or at the office of the To~ Treas-
urer of tr~ Town of Boynton, Florida~ ~t the option-of the
holdsrs$ a~od said bonds shall be signed by the Town Co~nission
and co~utersigned by the To~ Treasurer of the Town of Boynton,
?
Florida, and s~ll have the corporate sea! d~ said T~n af~xed
t~ereon~ and t~ interest coupons thereto attached s~hall be
ex®cured by the fac-simile slgnzt~e of the Tov~ Treasurer of
the said To~ of Boynton, F~orida~
Section O~ That the said bonds and interest coupons~
with the necessary variations to indicate the different series~
n~sz~bers and denominations, and the v~lidation cert{flcate to be
endorsed on said bonds, shall be in subst~tially the
following form:
UNITED STATES OF
STATE 0P F~0RiDA
COD?TY OF P~LM BEg~CH
TOV~ OF BOYNTON
REFUNDING BOND
iSSL~E· OF f~PRIL 1ST, 1934.
Th* Town of Boynton, a municipal corporation
duly organized aud existing under the laws of the State of
Florida, ack~_owledges itself indebted and for. value received,
hereby promises to pay to the bearer hereof
on the 1st day of &pril, 1989, together with interest thereon
at tb~ rate of tbmee (~) per cent,~ per am~um for the first five
(5) years from the date hereof; four (4) per centum per
for the second five (5) years from t_he date hereof~ five (5)
per centum per a~ for th~ third five (5) years from th~ dat~
_=~ ~ remaining
~reo~ ~d six (8) p~r o~nt~J~ p~r a~ for th~ ~
twenty ~E0) y~, payable s~mi-annually on the first day of
October ~ud &pril in each y~ar, Both princi~l and int~r~st
o~this bored a~ payabl~ in lawful maney of the Unitod Stat~s
of Y~m~rica at t~ Central Hanover B~k and Trust Comply in the
~i~y of New York~ State of New York, or at t~ offic~ of t~
Town Treasurer of t~ Town ofBoy~Vo~,~ Florida, at th~ option
of the holder hereof, upon presentation ~.d surrender of bond
~ud for ti~o. promot ar~ p~ctual pay~e~*~ of
or proper coupon, _
th~ prmncmpai~ud interast h~reof, as th~ s~ resp~c~zvely
~o~e~_on of t~xes ~ufficient
become due and for th~ levy ~ad ~ ~ ~+~ . -
~h~r~_- =~or, o~ full fa~h~ c~Sdit ~um resources of the Town~
Boynton are h~reby irrevoc~oly pledged,
The ToYam of Boynton reserves th~ right to red~ t..~s
bond on ~uy interest ~te, on or after April l, 193~, upon
~k~ a~cru~ interest
pz~ont of the par value hereof, together ~ ~ ~
to ~h~ dat~ fixed for redemptmon~ Notice of ~tention to
this bond shall b~ gmv~n by one pu~_m~at~on of said notic~
prior to the date set for ~ede.mption in a finamcia! journal or
· newspaper of general circu!ation in the United States of America,
publishe~ in the City of New York, New York, and by filing a
written copy thereof at the place Of payment herein specified,
wP~t6h p~=ca~ ~ ~d fi!ir~ s~ll be m~de at least forty-five
(~8) days prior to the date set for redemption, ~d
shall state the dat~ set for redemption. 0n ~d ~ter $i~ date so
rcde. mpt~on, inter~st her~on s~!l cease, pr°vid~d
fixed for
adequate funds for th~ re~emptzon of t~s bond ~all h~ve been
deposited at thc place of ~ent b~r~of on or before the date
so fixed for redemption.
Should the To~n of Boynton choose to exercise the option to
redeem, ~*~ of z~t~n s~ii be g~v~n n ety (90) day~
~bre ~uy intarest payment date in the ~.r hereinabove set
forth~ and the holder of this bond sb~ll ~v~ the ~me of
' ~h~s boP~ for pa}~nt within tn~r~y (30} days ~t~r
pubiloatlon of the notioe~ at such pr!ce below p~
inter.st as may b~ n~med in th~
This oonm is issued for ~* p~os~ of re~n~ valid
-- t ~'' obi~ga,~o~ of the Town of
and legally binding o~ts~a~-a~ ' ~'
Bo~ton, Florida, In the form of ~aprove~nt: Bo~s a~ Ref~uding
Bonds, together w~h overdue a~ accrued interest thereon, to
the pa~aent 0f wnmch the full faith ~d cremmt of said Town
autno~ y ~d in
pledged, mad Is issued under ~ ~ ~t o~ ~1! compliance
o~*~e,,~on ~ud $~a~es of ti~ State of Fiori~a,
including ~ong others, CPmpter i$PV~, Laws of w~a ieSl,
and pursuant to res~&e~on and proceedings of the T~n
of said Town duly adopted and taken~
It is h~eby ~e~tifled, r~clted and deolar~d tlaat all
aots~ conditions and thi~s required by t~ Constitutio~ and
Laws of the State of Florida to exist, to happen and to be per-
formed, precedent to ~ud in th&ilssuance of this bond, or pre-
cedent to and in the issuance of the outstanding obligations
hereby refunded, did exist, have happened, ~ud have been performe
in regular end due form, time ~ud manner, as required by law;
that the obligations ~hereby refunded are valid, outstandi~
~oligations of said To~, issued within all constitutional and
statuto~~ limitations of indebtedness$ that adequate provision
b~s been made for the payment of the principal and interest of
this bond at maturity and tb~t the total indebtedness of said
To~_~, including this bond, does not exceed a~y constitutional
o~statutory limitations of indebte0~esso
iN ~Th~SS V~EREOF~ the Town of Boynton, in Palm Beach
County, Florida, by its Totem Co~ission, has caused this bond to
be executed by each Co~.~nissione~ and the seal of said To~ to
be affixed hereto, countersigned by the Treasurer of said To~,
~ud has caused the interest coupons h~reto attacho~ to be signed
by
the fao-simile signature of its TreasuM~, ~ud this bond to
be dated the Ist day of &pril, AoD. !93~.
~Town~"Co~ission of
Town of Boynton, Florida.
~ember, Town Con~r~ssion of
Town of Boynton, ~lorz~a.
Countersigned:
~ember, Town Com~nis~ion of
To~. of BOynton,
Coupo~ NCo
(Form of Coupon)
On the first day of
Boynton, in Palm Beach County,
Dollars
~ !9 , the Tov. m of
Florida, will pay to the bearer
($ ] in lawful money of the
United States of A~erica at the Central Hanover Bank and Trust
Company in the City of New York, New York, or at the office of
the Treasurer of tla~ Town of Boynton, Palm Beach Cotmty, Florida,
at t_h~ option of the holder hereof, being six month's interest
then due upon its Refundi~ Bond, Issue of &pril 1st, 1934,
Series
Treasurer of the ~owm of
Boynton, Florida.
~a~iaatlon Certmfica~e)
~C1. cu~t
Yalidated ~ud o0nfi~.ed by tecree of tb~ '~
Court of the. Fifteenth Judicial~rcu~t~ ' o~.~he State o~ Florida,
in and for Palm Beach County, r~ndered this
.day of
Clerk of the Cmrcumt Court of'
the Fifteenth Judmcmal Circuzt
of Florida, 'in ~ud for Palm Beach
Co~ty.
Section 8. That in each year while any of said
bonds shall be outstanding, there shall be assees~, levied,
and collected in accordance with law, at the same time and in
the same ma~uer as other t~e~ ~e assessed, levied ~nd collected
upon all the t~abl* property within th~ boundaries of the
of Boynton, Florida, ~ speci~ diredt continuing a~ual ad valore
tax sufficm~nt ~n amount to provide for the payme~ of tb~ inter~
est on said bonds as the same shall become due, a~ in addition
thereto, co~_enci~ with the fimcal year beginn~ Nov~oer
l~O~, and endi~ October ~lst, 1~8, ~ud in e~ch ~.d ~very year
, ~ of said bo~s s_~ be
thereafter ~h~e
paid, there shall be assessed, zeroed ~ud c~_ec~ed, in
~ce w~h law, at the same time ~d ~n the ~me ma~er as
taxos are z~sessed, levied and collected, z sp~ol~- direct con-
tinui~ a~uual ad v~lor~ t~ upon all the t~ol~ property
_. boundaries of tb~ To~ of Boynton, F~or~da, su~f~cien.~ in
w~ t~_e
~ount to produce m s~m of not less than one per ~' ' (1%) of
.... ~ repre s~nted
the face valu* of t~ outst~dzr~ znaeotednes~,
~ ~o~ t~
cr~at~r~ a~
said bonds, for the purpos~ of ~ t~i~g fund ~ ~
payment of said bo~s; such si~ir~ ~.nd may be utilized by the
Town from time to time to ~urc~Se said bonds at any price l~ss
t?~n p~, at the option of the Town Cor~sion, provzm$-, how~w
if such f~ds are not so used within forty-five (40) days prior
to the next followi~ interest ~ ~te, they sb~ll 'be
intact a~ preserved for the m~m~te retlremsnt of sazd bonds,
which s~all be oal!able on any interest paying date begi~in~
t~e~ (Z) years after April 1st, 19Z4. That all taxes h~retofo:
assesssd and levied for the fiscal year beginning November !st,
as .~ _~ as seventy-five per cent (V5~) o~
1931, and priory ~e~ ~
taxes heretofore assessed and levied for the fiscal year begin-
ming November 1st, 1932, and the fiscal year beginning November
ist, 1933, and spec.al assessments heretofore &sses~sed ~ud levied
upon all the taxable property w~th=n th~ boundaries of the
of Boyr. ton, Florida, which taxes and special assessments are now
unpaid, uncollected, or delinquents and all sums of money re-
ceived from the resale of property, title to which may be acquire~
by the Town of Boynton, ~lorzda, ~a~der t~x sales or sales
im~ from tl~ foreclosure of specie_ assessment liens or tax sale
certificates, shall be pa~d =n~o the sinking ~nd and usea for
t~ p~o~poses hereinabove ~t forths provided~ however, that the
T .~.~ may pay the costs am~ expenses or any proceedi~ _n~t~tu~a
for the foreclosure of any tax sale certificate or lien of
~ Y
special assessment, subject ~o control of a ma'orit of t~
no~cers of said bonds; ~ud said monies so ~ ....... shall be
used solely and ~,¥nolly for the ~o~poses herein provided,
s.hall not be used for any other purpose.
Section 7o Tb~t said bonds shall_~ validated by
the Town of Bo2mton in the Circuit Court of the Fifteenth Judicia
Circuit of Florida, in smd f~r P~m Beach County, in accordance
~ith the laws in such cases made and prov~e~, and tee Town
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nol~rs o~
!urn~sh to the ' ~ said bonds, prmor to delivery, an
opinion by Messrs. ~a_dwezl ar~ Raimond, Coz~usellors-at-Law,
of ll5 B~oadway, New York, New York, who are atto~u~_eys who are
recognized as authorities on mu_~mc_pal bonds, and whose opinion
generally acceptable upon - ~ sub0ec~s duly approwmno the
validity of the l~oceedings leading up to and culminatir~ in ti~e
issue and delivery of said bonds.
Section 8, Tb~t when said bop_ds have been validated,
executed, and approved in the manner hereinbefore provided, the
To~ shall deposit said bonds, duly execute~, with thc Central
Trust Company of Cincinnati, Ohio, for delivez~ to the holders
of bonds and other security of the Town of Boynton, Florida~
to be refunded, to be exchanged for a correspondi~ release of
the outstanding obligations of said To~m held by them~ The said
Central T~st Company of Cincinnati, Ohio, shall be instructed,
and hereby is instructed, to deliver the Refunding Bonds he?ein
provided, in .excha_=uge smd surrender to said ba~nk of t~ bonds,
interest coupons, ~d other security of the '~wn of Boynton,
Y~ida, to be refunded as hereinabove set forth, arid said b~nk
is hereby authorized to cancel by perforation the bonds so sur=
rendered, as and when the Re~.ndip~ Bends authori~zed by this
Resolution are delivered in excb~r~e therefor, and to forward
such cancelled bor~!s and other security to the Town Treasurer~
~ud is further authorized up~m each exbb~nge to execute a cer~
tificate ~ on behalf of som~ officer of sai~ bauk, giving a
description of the bonds and other securities-surrendered and
c~mcelled a_~ the n~w~bers of+~_~ Refunding Bonds so delivered,
and to forward said certificates with the c~ncelled bonds arxi
interest coupons to th~ Town Treasurer off_the Town of Boy~>ton,
Fiori da ~
Section 9. That all Resolutions
inconsistent or in conflict herewith, be
hereby rescinded and rep~aled~
or parts of Resolutions
and the same are
Co~issioner Nenzel seconded the motion for th~ adoption of
the above and foregoing Eesolution and upon bei~ put to a vote
was duly passed and adopt®d~
The proposition of Y~. Frank Brov~ regarding the rental
of the building used as the Tov~n Hall was again brought to the
attention of the Co~imsiono A discussion was b~d regarding the
matter but no definite action taken at this time.
~ Resolution to pay claims was adopted.
There being no~ f~ther reg~lar~business before the
?
~°- Co!~sslor~rs
Bo~ the ~eeo~ng was ad'o~ed aug the
i,~diate!y went into session as a Board of Equalization tc
h~ar complaints on th~ 19S~ Tax Assessment Roll in Accordanc~
with Soction I~, of Ordin~o~ No. I0~ of the Town of Boynton,
and also in accordance wmt~ the
NOTICE TO TAXPAYERS
~D
TOVM,~ 0P BOYNTON,
You are hereby notifi~{ tha%~the Bo~d 0f To~ Co~uissioner
of the Totem of Bo~ton, Palm Beach County,~lorida, will sit
a Bo~d of Equalization ~o hear complaints on the 19~ T~
Assessment ~ Tuesday cyanic, PebPu~y
o~clock P.D~. in the To,~ Hall of the To~,~ of Boynton, Florida,
and will adjourn from day ~o day if necessary for a period not
exeeeding three consecutive days. Al! property ov~mers interested
ar~ h~r,by ordered to app*ar at the abov~ mentioned tim~ ~d
to make complaint or in case of failure to appa~r said assessments
~ill be considered £~na=~
Dated~ Boynton, Florida
January 3rd,
Ir. the absence
Clerk of t--~e
of
~mce-'Mayo~. called t~._e
of the ~.~ayor, the ~ ~ '~ ~
meeting to order ~s a Boa~a of Equalization, there bemm~ presenz
the Viee~ayor ~ud Tov,m Clerk constituting a majority of the
Board of To~m Conm~ssioners.
A complaint wasentered for Mr. S. B. i~bley against-
Lots 3 to 8 inc. Block mt, Boynton
comp~in~ was gavin due consideration and
was atcerta~ned that t~e valuation as placed against the goer®
described property is in co.~formmty wzth the valuations as
placed against neighboring properties.
o~ner complaints bemng presented the meeting
Mayor
\ ~c e -may