Res 775-50 ~$OLUTION NO. 775
~SOLUTiON C~LING FO~,' REDEMPTION OF THE
OUTSTANDING G~N"~L i ~'tEFUNDiNG BONDS, SERIES
~ .~O SE~ilES B, OF ~HE CITY OF D~Y B~CH
BB IT ;~SOLVED by the City Council of the City of Delray
Beach, Florida:
Section 1. That the outstanding bends of the City described
in the notice set forth in Section 2 hereof are hereby called
for redemption on January 1, 1951.
Section 2. That a notice of redemption substantially in
the following form shall be given:
Notice of Redemption
Notice is hereby given to the holders of all of the
following described bonds of the City of Delray Beach,
Florida, which are now outstanding that said bonds have
been called for redemption on January 1, 1951:
$1,014.635 General Refunding Bonds, Series A,
dated July 1, 1938, due July 1, 1968,
bearing interest presently at 3%
per annum, numbered 1 to 1029, in-
clusivp, denominations $1,000, $685,
$665, $500 and $450;
~ 352,350 General Refunding Bonds, Issue of
July 1, 1940, Series B, dated July 1,
1940, due July 1, 1968, ~bearing
interest presently at 3~ per annum,
numbered I to 357, inclusive,
denominations $1,000, ~500, ~100
and $50.
Payment of principal will be made upon presentation of
the bonds with all un~atured coupons attached at the
place of payment named therein on or after January 1,
1951, and interest shall cease to accrue on said date.
GIVEN by order of the City Council ~is 23rd day
of October, 1950
(Signed) Ruth R. Smith
City Clerk
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Section 3. That the City Clerk shall provide for
publication of the above prescribed notice one time in the'
Delray Beach News, a newspaper of general circulation
published in Palm Beach County, and one time in the Bond Buyer,
a financial journal published in the City of New York, New York,
each of said publications to be made not less than thirty days
nor more than sixty days prior to January 1o The City Clerk
shall also file a copy of said notice with Irving Trust Company,
New York, New York, not less than thirty days prior to January
1, 1951.
Section 4. That this resolution shall be in effect
immediately upon its adoption.
Adopted and approved October 23rd, 1950
j aYor
A~TEST:
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