Res 1358-61 RESOLb~rION NO. 1358.
A RESOLUTION OF THE CITY COUNCIL OF DELRAY
BEACH, FLORIDA ADJUSTING TH~ FEE TO BE PAID
TO McCREEDY AND COMPANY AND B. J. VAN INGEN
AND COIfPANY FOR THE SERVICES AS FISCAL AGENT
IN CONNECTION WiTH THE PROPOSED SANITARY
SEWER PROJECT.
WHEREAS, the City Council of the City of Delray Beach,
Florida, accepted a proposal from McCreedy and Company and B. J.
Van Ingen and Company on April 13, 1959, offering their services
as Fiscal Agent in connection with a sanitary sewer project esti-
mated to cost $2,200,000.00, and
WHEREAS, it was provided that the agreed fee of one (1~)
per cent would be adjusted if there was any substantial change in
the amount of financing, and
WHEREAS, there has been a substantial change in the
amount of financing, the total estimated cost of the project now
being 4 0,000.00,
NOW THEREFORE BE IT RESOLVED by the City Council of
the City of Delray Beach, Florida:
1. The fee to be paid to McCreedy and Company and
B. J. Van ingen and Company for services as Fiscal Agent in con-
nection with the propose5 sanitary sewer project is hereby ad-
justed to one and one-half (1~-~) per cent of the val~e of the
amount of bonds actually issued and sold, payable at the time
of delivery to the actual purchaser.
2. From this fee, as previously agreed, McCreedy and
Company and B. J. Van Ingen and Comply will psy all necessary
expenses, including cost of validation, bond printing, advertising,
preparation of the official statement and the fee of the approving
attorneys, but not the fee of the City Attorney.
3. The purpose off this Resolution is merely to adjust
the fee of said Fiscal Agent, and is not to otherwise alter or
change the agreement heretofore existing between said McCmeedy
and Compsny and B. J. Van Ingen and Company and the City.
P~SSED AND ADOPTED in special session this 6th day of
November, 1961.
M~O~
~TTEST:
.,~, GOODBODY ~ Co.
~...I NEw YO~, STOCk. E×CMAN.g~
IOOI FIRST NATIONAL BANK BLDG. -~ND
~ ~OO BISCAYNE BLVD.. SOUTJt
In ooperation with your City ~.fiicials, your ,-onsu]ting engineers
aD~] a~orovin~ attcrneys, we will assist you in settin~ up a schedu2c
~,¢ ...; ce .[ -'~'-e or. dillances, and the maturity ........ ~
".,:~.~ wi'ii .... i',.c~.~ate' ~ ~ the preparat~.on oi legal p.ro~ee~. ~ '~ngs '~ necessary
for' tilde vaiid issuance o.f the konds, and will g~ve ail posz:ible
sistance t~:,'~our attorney z,,',, ?c.me~t.on- ~ ; with the vatLdation, We will
arrange fop the pvint, ing of ti~~ bonds and for all necessary st~ps i,~-
cident: to this .~inar)c:n~, inciu,~ing publication of ail aot:.ces ~."~
..... ~. ":,r' 3ur. sopranos and expenses i.n
co~ection herew,t,h, ,,~ ar'-- t, ?,~ i:,azc a fee of ::ne (t] percent of the
::ar value ::.f the am..,~:;qt ~': '[,7?-~;:: .<crutaily issued and solkd, at the time
~ ftc. ta.i Statement and tke ~
vertisi, r~, preparation of the '''~ "-"
~ e e 0 ~ 1,h e
approving attcr, neys, but no~ including the fee oi v.:.x.r City Attorney
nor the coat c.,f the referendum.
.............. ,,. ~m.,t if there is any sub~+a*'*ia~ change
in the ~ms, unt...-,f t'n,~,.. f'inanci~g..., l'rom the presently~, estimated cost,
$2,200,~0., the terms of this agreement will be adjusted on a
Your acceptance of this ' ' '
Agreement by Resolution will constitute
a contract between us for the above described emplo~ent."
B; J. V~iN INGEN & CO. ~C.,
~,, /S/ Fred B. Clark
NcCRE~DY & C~,~.~tqY, INC.
By /S/ C.T. McCreedy .