R91-137 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
RESOLUTION NO.
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA; AUTHORIZING
THE RELEASE OF AN IRREVOCABLE STANDBY LETTER
OF CREDIT HELD TO SECURE PERFORMANCE OF
INFRASTRUCTURE IMPROVEMENTS FOR THE TARGET
COMMERCIAL CENTER, PROVIDING AN EFFECTIVE
DATE.
WHEREAS, the City Commission of the City of Botrnton Beach,
Florida, has considered the report of the City Administration
that all required improvements at the Target Commercial Center
are in place and that release of the Letter of Credit securing
those improvements is appropriate; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDAw THAT=
Section 1. The City of Boynton Beach, Florida hereby
authorizes the release of the Standby Letter of Credit dated July
10, 1990 from Northwest Bank
the City of Boynton Beach, a
Exhibit "A".
Section 2.
upon passage.
PASSED AND ADOPTED BY
BOYNTON BEACH, FLORIDA THIS
Minnesota, National Association to
copy of which is attached hereto as
This Resolution shall take effect immediately
THE CITY COMMISSION OF THE CITY
DAY OF ./~7- , 1991.
CITY OF BOYNTON BEACH, FLORIDA
OF
ATTEST:
( CORPORATE -SEAL)
JA~/~s
A: ~/O&R/RESO7
~oner
Commissioner