1976-50 Resolution Awarding $210,000 Improvement Revenue BondsRESOLUTION N0. 50-76
RESOLUTION AWARDING $210,000 IMPROVEMENT REVENUE BONDS, SERIES
1975 OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA.
WHEREAS, the Village of North Palm Beach has heretofore author-
' ized the issuance of $210,000 Improvement Revenue Bonds, Series 1975
(hereinafter called "Bonds"), to finance the cost of acquiring certain
recreationa]. equipment for the Village Golf Course; and
WHEREAS, said Bonds have been validated by judgment of the Cir-
cuit Court in and for Palm Beach County, Florida; and
W}{EREAS, it is deemed necessary and desirable and in the best
interest of the Village that said $210,000 Bonds be sold at this time; and
W}{EREAS, William R. Hough & Co, of St. Petersburg, Florida,
has offered to purchase said Bonds at the price of $209,000.00 plus accrued
interest to the date of delivery, said Bonds to bear interest at five and
one-half per centum (5-1/2%) per annum; and
WHEREAS, it is deemed in the best financial interest of the
' Village to accept the proposal of said William R. Hough & Co. of St.
Petersburg, Florida;
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF NORTH PALM BEACH, FLORIDA:
Section 1. That the $210,000 Improvement Revenue Bonds, Series
1975, of the Village, dated October 1, 1975, maturing on October 1 in
the years 1976 to 1982, inclusive, bearing interest, payable semi-annually
on April 1 and October 1 of each year, at the rate of five and one-half
per centum (5-1/2%) per annum, be and the same are hereby awarded and sold
to William R. }lough & Co. of St. Petersburg, Florida, at the price of
$209,000.00 plus accrued interest to the date of delivery thereof.
Section 2, That the Mayor and Village Clerk be and they are
hereby authorized to execute said obligations and to do and perform any
' amd all things for the purpose of effectuating delivery of said obligations.
Section 3, Said Bonds shall be payable as to both principal and
interest at a bank to be determined by the Village and purchaser prior
to delivery date.
Section 4, This resolution shall take effect immediately.
PASSED AND ADOPTED THIS 24 DAY OF JUNE, 1976,
/s/ Mervin H. McIntyre
VICE MAYOR
ATTEST:
/s/ Dolores R, Walker
Village Clerk
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