09-18-50SpMtg9118150
September 18, 1950.
The City Council of the City of Delray Beach,
Palm Beach County, Florida, met in duly called Special session
at the regular meeting place of the Council in the City Hall
in the City of Delray Beach, at %:OOP.M. with John N. Kabler,
Mayor, present and presiding. There were also present, Council-
men R.J.Holland, J.L.Saunders, W.A.Jacobs, and City Clerk Ruth
R. Smith, City Manager Charles Black, add City Attorney John
Moore.
After the minutes of the preceding meeting had been
read an~ approved, the following letter from the First National
Bank of Delray Beach, Florida, was presented and read in full:
'~IRST NATIONAL BANK OF DELRAY BEACH
Organized 1929
Delray Beach, Florida.
H.A.Hubbard September l~, 19%0.
President
City of Delray Beach
Delray Beach, Florida.
Gentlemen:
The First National Bank of Delray Beach, Delray Beach,
wishes to hereby confirm in writing a verbal offer to purchase
from the City of Delray Beach, Delray Beach, Florida, $~2,000.00
face value Special Tax Revenue Certificates of the City of Delray
Beach, bearing 3% interest, dated August l, 19~0, at par and acc-
rued interest to date of Delivery.
The final acceptance and payment by the bank of these
Special Tax Revenue certificates is based upon.the final consent
of the bank's attorney as to the legality of the purchase and the
final opinion of the attorneys approving the validation of the
certificates.
Very truly yours,
(Signed) H.A.Hubbard
H.A.Hubbard
H.A.H:ecb President
9/18/~0
After due discussion, and pursuant to motion made
by Councilman Saunders, and seconded by Councilman Holland,
the resolution accepting the proposal ~f the First National
Bank of Delray Beach was adopted by the following vote:
Councilman Holla. nd
C ouncilma~ Saunders
AYE:
Councilman Jacobs
Mayor Kabler
NO: None
The resolution was thereupon signed by the Mayor in
open session in token of his approval, and was ordered
recorded by the Clerk in the Resolution Book, and is as
follows:
"RESOLUTION NO. 771"
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF DELRAY BEACH~ FLORIDA, ACCEPTING THE OFFER
OF THE FIRST NATIONAL BANK OF DELRAY BEACH,
DELRAY BEACH, FLORIDA~ TO PURCHASE FROM THE
CITY OF DELRAY BEACH, FLORIDA~ $$2~000.00
FACE VALUE SPECIAL TAX REVENUE CERTIFICATES.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DELRAY BEACH~ FLORIDA~ as follows:
That the City of Delray Beach, Florida, does hereby
accept the offer of the First National Bank of DelraY
Beach, Delray Beach, Florida, to purchase, subject to the
approval of the Bank's Attorney and of the Attorneys
approving the validation of the certificates~ from the
City of Delray Beach, $$2,000.00 face value special tax
Revenue Certificates of the City of Delray Beach, Florida,
bearing 3~ interest and dated August 1st, 19~0, which
certificates were validated on the llth Day of August,A.D.
1950, and which certificates are based upon revenues de-
rived from the Municipal utilities service tax imposed
pursuant to Ordinance No. 535, as amended by Ordinance
No. 567, as amended by Ordinance No. G-lO~.
PASSED AND ADOPTED by the City Council of the City
of~ Delray Beach, Florida, in S. pecital Session, on this
l~th day of September, A.D.1950.
(Signed) John N, Kabler
Mayor
A. TTEST:
(SiEned) Ruth R. Smith
City Clerk
The meeting then adjourned. Ruth R. Smith
City Clerk