Res 50-84 RESOLUTION NO. 50-84
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY
BEACH, FLORIDA AMENDING RESOLUTION NO. 45-84, T HE
RESOLUTION ENTITLED "A RESOLUTION AUTHORIZING THE
ISSUANCE OF NOT EXCEEDING $28,000,000 WATER AND SEWER
REVENUE BONDS OF THE CITY OF DELRAY BEACH, FLORIDA,
FOR THE PURPOSE OF REFUNDING CERTAIN OUTSTANDING
OBLIGATIONS; TO FINANCE THE COST OF CONSTRUCTION OF
ADDITIONS, EXTENSIONS AND IMPROVEMENTS TO THE CITY'S
COMBINED PUBLIC UTILITY; AND PROVIDING FOR THE TERMS OF
THE WATER AND SEWER REVENUE BONDS, AND THE RIGHTS,
REMEDIES AND SECURITY OF THE HOLDERS OF THE WATER AND
SEWER REVENUE BONDS", TO AMEND ARTICLE I, "DEFINITIONS,
FINDINGS, AND STATUTORY AUTHORITY", SECTION 1, "DEFINI-
TIONS'', BY REPEALING PARAGRAPH II, "SEWER SYSTEM~, AND
ENACTING A NEW PARAGRAPH II, "SEWER SYSTEM" TO AMEND
THE DEFINITION OF WHAT CONSTITUTES THE "SEWER SYSTEM";
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Delray Beach, Florida (the "City") on June 12, 1984
did adopt Resolution No. 45-84, being a Resolution authorizing the issuance of not
exceeding $28,000,000 Water and Sewer Revenue Bonds of the City of Delray Beach,
Florida (the "Bond Resolution"); and,
WHEREAS, the municipal utility operated by the City includes an Ocean
Outfall System; and,
WHEREAS, the City and the South Central Regional Wastewater Treatment and
Disposal Board (the "Board") on July 12, 1979 entered into an agreement whereby the
Board agreed to purchase the Ocean Outfall System from the City (the "Agreement");
and,
WHEREAS, pursuant to the said Agreement, the City shall convey the Ocean
Outfall System to the Board at such time as (1) payment or provisions for payment of
the 1961 Bonds, the 1962 Bonds, the 1963 Bonds, the 1965 Bonds and the 1972 Bonds
has been made, and (2) the City has received from the Board payments for the use of
the Ocean Outfall System totalling $1,155,646; and,
WHEREAS, it is necessary to amend the Bond Resolution to conform it to the
terms of the Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That Article I, "Definitions, Findings, And Statutory Authority",
Section 1,-~ions~, of Resolution No. 45-84 of the City Council of the City of
Delray Beach, Florida, is hereby amended by hereby repealing Paragraph II, ~Sewer
Systems", and enacting a new Paragraph II, "Sewer System", to read as follows:
II. "Sewer System" shall mean the complete sanitary sewer
collection and transmission facility and the Ocean Outfall System of
the City and the City's one-half (1/2) undivided interest in the
treatment and disposal system operated by the South Central
Regional Wastewater Treatment and Disposal Board (the 'Board~) as
they now exist and as may hereafter be improved and extended
consisting of all real and personal property of every nature owned
by the City and used or useful in the operation thereof whether
within or without the City, except that the Sewer System shall not
include the Ocean Outfall System after the date on which (1) the
1961 Bonds, the 1962 Bonds, the 1963 Bonds, the 1965 Bonds and
the 1972 Bonds shall have been refunded, and (2) the City shall
have received payments from the Board for the use of the Ocean
Outfall System totalling $1,155,646 in accordance with the terms of
the Ocean Outfall Agreement dated July 12, 1979 between the City,
the Board and the City of Boynton Beach, Florida.
Section 2. That this Resolution shall take effect immediately upon its
adoption and shall be retroactive to June 12, 1984.
PASSED AND ADOPTED in regular session on this the 26~:h day of June,
1984.
ATTEST:
2 RES. NO. 50-84