08-18-88SpMtg194
AUGUST 18, 1988
A Special Meeting of the City Commission of the City of Delray
Beach, Florida, was called to order by Mayor Doak S. Campbell in the
Commission Chambers at City Hall at 5:45 P.M., Thursday, August 18,
1988.
Roll call showed:
Present - Commissioner Marie Horenburger
Commissioner Jimmy Weatherspoon
Mayor Doak S. Campbell
Absent - Commissioner Patricia Brainerd ~
Commissioner Mary McCarty
Also present were - City Manager Walter O. Barry
Mayor Campbell called the meeting to order and announced that
this meeting has been called for the purpose of (1) Considering Resolu-
tion No. 46-88 awarding and determining the details of the City's Water
and Sewer Revenue Refunding Bonds Series 1988.
1. Resolution No. 46-88.
The City Manager presented Resolution No. 46-88:
A RESOLUTION OF THE CITY coMMIsSION OF THE CITY OF DELRAY
BEACH, FLORIDA, AUTHORIZING THE NEGOTIATED SALE OF
$25,135,000 WATER AND SEWER REFUNDING REVENUE BONDS,
SERIES, 1988, OF THE CITY OF DELRAY BEACH, FLORIDA;
PROVIDING FOR THE TERMS OF SUCH BONDS; APPOINTING A
PAYING AGENT AND A REGISTRAR FOR SAID BONDS; APPOINTING
AN ESCROW AGENT; AUTHORIZING THE EXECUTION' AND DELIVERY
OF AN OFFICIAL STATEMENT AND RATIFICATION OF THE DISTRI-
BUTION OF A PRELIMINARY OFFICIAL STATEMENT; AUTHORIZING
THE EXECUTION AND DELIVERY OF A BOND PURCHASE CONTRACT;
PROVIDING FOR THE TRANSFER OF FUNDS; PROVIDING FOR BOND
INSURANCE; APPROVING THE FORM OF AND AUTHORIZING THE
EXECUTION AND DELIVERY OF AN ESCROW DEPOSIT AGREEMENT;
APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND
DELIVERY OF A FINANCIAL GUARANTY AGREEMENT IN CONNECTION
WITH THE ISSUANCE OF THE SURETY BOND BY MUNICIPAL BOND
INVESTORS ASSURANCE CORPORATION; AMENDING, SUPPLEMENTING,
AND RESTATING CERTAIN PROVISIONS OF THE AUTHORIZING
RESOLUTION IN CONNECTION WITH OBTAINING THE BOND INSUR-
ANCE AND SURETY BOND; SUPPLEMENTING THE DISCHARGE AND
SATISFACTION PROVISIONS OF THE AUTHORIZING RESOLUTION FOR
THE BONDS; AUTHORIZING PROPER OFFICIALS TO DO ALL OTHER
THINGS DEEMED NECESSARY OR ADVISABLE IN CONNECTION WITH
THE ISSUANCE, SALE AND DELIVERY OF SAID BONDS; AND
PROVIDING AN EFFECTIVE DATE.
(Copy of Resolution No. 46-88 is on file in the official
Resolution Book)
Mr. Weatherspoon moved for the adoption of Resolution No.
46-88, seconded by Ms. Horenburger. Upon roll call the Commission voted
as follows: Ms. Horenburger - Yes; Mr. Weatherspoon - Yes; Mayor
Campbell - Yes. Said motion passed with a 3 to 0 vote.
Mayor Campbell declared the meeting adjourned at 5:48 P.M.
City ~lerk '
195
ATTEST:
',,~, M .A Y R
The undersigned is the City Clerk of the City of Delray Beach
and that the information provided herein is the minutes of the meeting
of said City Commission of August 18, 1988, which minutes were formally
approved and adopted by the City Commission
NOTE TO READER:
If the minutes that you have received are not completed as indicated
above, then this means that these are not the official minutes of City
Commission. They will become the official minutes only after they have
been reviewed and approved which may involve some amendmentS, additions,
or deletions to the minutes as set forth above.
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