HomeMy WebLinkAboutRes 1961-123 Fixing the Interest Rates to be Borne by Nov. 1961 and Naming the Paying Agent Banks for Recreational Facilitlies Bonds of the Village of NPB•
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RESOLUTION NO. 123
A RESOLUTION CONFIRMING THE SALE, FIXING THE INTEREST
RATES TO BE BORNE BY, AND NAMING THE PAYING AGENT BANKS FOR
$1,430,000 RECREATIONAL FACILITIES BONDS OF THE VILLAGE OF
NORTH PALM BEACH, PALM BEACH COUNTY, FLORIDA.
WHEREAS, the Village of North Palm Beach has sold
$1,430,000 Recreational Facilities Bonds of said city, dated
July 1, 1961; and
WHEREAS it is now desired to confirm the sale, fix the
interest to be borne by, and name the paying agent banks for
said bonds;
NOW, THEREFORE, Be it Resolved by the Village Council of
the Village of North Palm Beach, Florida, as follows:
Section 1. That the sale of $1,430,000 Recreational
Facilities Bonds of the Village of North Palm Beach, Palm Beach
County, Florida, to A. C. Allyn & Company, of Miami Beach,
Florida, at the price of par and accrued interest to the date
of delivery, is hereby in all respects ratified and confirmed.
Section 2. That said bonds shall bear interest at the
following rates:
Bond Numbers Amount Interest Rate Year
i to 30 $$30,000 4.75 % 1964
31 to 65 35,000 4.75 % 1965
66 to 100 35,000 4.75 % 1966
l01 to 135 35,000 4.75 % 1967
136 to 175 40,000 3.40 % 1968
176 to 215 40,000 4.00 % 1969
216 to 255 40,000 4.00 % 1970
256 to 300 45,000 4.00 % 1971
301 to 345 45,000 4.00 % 1972
346 to 395 50,000 4.00 % 1973
396 to 445 50,000 4.00 % 1974
446 to 500 55,000 4.00 % 1975
501 to 555 55,000 4!.00 % 1976
556 to 610 55,000 4.00 % 1977
611 to 670 60,000 4.00 % 1978
671 to 730 60,000 4.00 % 1979
731 to 795 65,000 4.00 % 1980
796 to 860 65,000 4.10 % 1981
861 to 930 70,000 4.10 % 1982
931 to 1000 70,000 4.10 % 1983
1001 to 1080 80,000 4.10 % 1984
1081 to 1165 85,000 4.10 % 1985
1166 to 1250 85,000 4.10 % 1986
1251 to 1340 90,000 4.10 % 1987
1341 to 1430 90,000 4.10 % 1988
Resolution No. 123
Page 2
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Section 3. That said bonds shall be payable as to both
principal and interest in lawful money of the United StAtes of
America at FIRST NATIONAL BANK OF MIAMI, in the City of Miami,
Florida, or at the option of the holder thereof, at CHASE
MANHATTAN BANK, in the City of New York, New York.
Section 4. That said bonds shall be delivered to said
purchasers as soon as may be after the adoption of this resolution,
pursuant to due payment therfor in accordance with the terms of
sale.
(SEAL)
ATTEST:
Adopted and approved November 15, 1961.
.0.111PSCrutio,
Village Clerk
Mayor