R92-87RESOLUTION NO. R92- ~7
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING RENEWAL AND/OR REDUCTION OF
THE LETTERS OF CREDIT FOR TRADEWINDS
PROPERTY; AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, the City Commission of the City of Boynton
Beach, Florida, at the request of the developer, and upon
the recommendation of staff, desires to renew and/or reduce
the Letters of Credit drawn on United National Bank ~n the
amounts set out below, for the purpose of assurin~ the
improvements on the Tradewinds proper~y. ~
NOW, THEREFORE, BE iT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH, FLORIDA:
Section 1. The City Commission of the
Boynton Beach, Florida, hereby authorizes renewal
reduction Of the Letters of Credit drawn on United Nat
Bank in the amounts set forth as follows:
Past Proposed
Letter of Credit # Purpose Amount Amount
UNB 1322 Earthwork (lake) $ 86,000 $ 86,000
UNB 1337 Force Main Reloc. 79,000 83,225
UNB 1417 SW 8th St.
Complete 529,000 336,528
UNB 1323 Roadway Restor-
ation & Blowing
Sand 30,000 30,000
UNB 1415 Industrial
Access Road 76,847 76,847
UNB 1416 Park Impacts 82,500 82,500
Section 2. That this Resolution shall
effeCtive immediately upon passage.
PASSED AND ADOPTED this /)~ day of May, 1992.
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ATTEST:
(Corporate Seal)
CITY OF BOYNTON BEACH, FL
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