Res 956-55 A BESOL~I~ CO~F~G ~ AWD FIXING T~
RAT~ A~ PA~I~G A~T I~R $110,00~ $1~CIAL
TAX ~~ CErTIFICATe, S~RI~5 19~ OF T~ CITT ~
~i~ the City C~mcil of the City e~ Delray Beach, Florida,
by resolution adopted Febraary 22, 195~ has authorized the issuance ~f
$110,~ Special Franchise Tax Revere Certifieatet, Series 19~5~ a~d
Ig~EI~A8 sai~ certificates have now bees seld to B.~.
& Co., Inc. at the pries of $105,075 plus accrued interest to the date of
deliver2 par~_,_~t to the contract of ~ale hereinbel~ set out ia
~.J. YA~ IM~ & CO. INC.
Robert ~. Cook ~nicipal Bond~ New
~ice ~s~ent ~t ~~
~h 1, lg55
City ~ ~ ~aeh
~ ~a~, ~orida
~tle~n~:
F~ O~ ~d T~ ~~d Do~s (~0,~.~) ~ v~ue ~ De~ ~ach,
~~ ~ehl ~chise T~ R~on~ ~icates, ~ies 1~55, dat~
195~, d~ ~e~n ~ou~ ~ll~s (~,~.~) oaeh ~ 1st ~ the ~s
to 1~ ~cluiw; a~ be~hg ~te~ at the ~to ~ ~ ~ c~t (~) ~r
~-~, ~ablo s~~u~ ~ 1 ~ Nove~r 1, ~ ee~ieates
~ the ye~s 1961 t~h 1~ re~mble ~ior to mt~i~ ~, hverse
of the~ mt~ity on ~ 1, 1~ ~ ~ere~r at ~ ~ acc~ in,rest;
~e ~ ~ the ~i~ m of ~e ~red g~t ~~
~lhrs ($1~,~5.~).
Ve ~11 a~ de~ve~ of hid ~i~tes at ~ ~ mtu~ a~d up~
on ~y 1, 1~55.
at ~e t~ ~ de~ ~ said ~icates, t~ ~~ied a~ovi~ op~
~ Hes~s. Oh~ & ~tler, Att~yo at ~w, ~go, I~ois.
~e enclose ~~'s oheek h the ~t of ~ent~bo ~ed Doll,s (~.~
~ble to the o~er of ~e Ci~ of De~ ~ch, Florida, to ~ app~ed
~ase price of the ~icatos ~ re~ed ~ t~ Ci~ as ~ ~ated
~s ~ the ~t of o~ faille to ~ for ~e ~icates.
~ ~e able p~al is acceptable to t~ City ~ ap~ate action is t~en
au~orizi~ y~ N~d Ci~ Cle~ to si~ hid ~~1 m ~h 2, 1~55, it
~11 ~ the ~sis of a contract c~er~ the sale ~ said ~rt~ioates.
bs~c~ ~tt~,
A~d this ~t d~ ~ M~, 1~5. B.J. V~ ~ & ~.
A~2. ~3~ed) R.D.
and
~REAS, the City Council now desires to confirm sale off said
certificates to said purchasers and ffix the interest rate and peying agent8
for said certificates~
NO~, ~, ~ IT ~SOL~ED BY THE CITY COUNCIL OF THE CITY
OF DELRAY BEACH, F~ORIDA, as follows~
~ That the sale of $110,000 Special Franchise Tax
Revenue Certificates, Series 1955 of the City of Delray Beach, Florida, is
here~y confirmed to B.J. Van Ingen & Co., Inc. at the price of $108,075
plus accrued interest to the date of delivery.
Section 2~ That said certificates shall bear interest at the
rate of 3% per ann~a amd said certificates shall be payable aa to principal
and interest at First National _a~u~ of Delra~ Beach in the City of Delray
Beach, Florida, or at theoption of the holder at The Chase National _~,-~ ia
the City of Hew York, Hew York.
..Section ~ ?hat if ar~ section, paragraph, clause or provisioa
of this resolution shall be held to be invalid or ~nenforceable for any reason,
the validity or unenforceability af such section, paragraph, clause or pro-
vision shall not affect any of the rema4~ng provisions of this resolution.
Sectio .nAr That this resolution shall be in full fores and effect
i~ediately upon its adoption.
The above resolution and the contract of sale therein contained
are hereby approved as to form and correct ss .f day of_~f~
//'// ..
1955.
City Attorney