Res 87-84 RESOLUTION NO. 87°8~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY BEACH,
FLORIDA, AUTHORIZING THE ISSUANCE OF REPLACEMENT BOND FOR
AN ISSUE OF BONDS DESIGNATED "CITY OF DELRAY BEACH, FLORIDA
BEACH IMPROVEMENT BONDS," DATED FEBRUARY 1, 1972, AND PRO-
VIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Delray Beach, Florida, (the "City") has heretofore issued $2,000,000
Beach Improvement Bonds, dated February 1, 1972; and
WHEREAS, Bond Number 397, due February 1, 2002 with coupons maturing February 1, 19gt~
through maturity attached was lost by EF. Hutton & Company Inc. (the "Corporation") and said
Corporation desires the City to issue a replacemer~t bond and coupons.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section I. That the lost bond is described as follows: City of Deiray Beach, Florida, Beach
Improvement Bonds, dated February l, 1972, number 397, being in the denomination of 05,000, maturing
February 1, 2002, bearing interest at 5.00% per annum with coupons maturing February 1, 198# to
February l, 2002 attached.
Section 2. That the Corporation which lost the bond has paid for the cost of printing the
replacement bond and has furnished a statement of loss and Indemnity Bond identifying the City and
Paying Agent. These documents have been approved by Bond Counsel and are filed with the City. The
Paying Agent has entered a stop payment on the lost bond and coupons and the lost bond or coupons
have not been paid.
The bond is hereby authorized to be reprinted and issued and the Mayor and Clerk of the
City are hereby authorized to execute the replacement bond and any other documents necessary to
accomplish the replacement of the above mentioned bond.
Section 3. That this resolution shall take effect immediately.
PASSED AND ADOPTED in regular session on this the 23rd day of Octzober ,
198#.
ATTEST: