Res 01-80 RESOLUTION NO. 1-80
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY
BEACH, FLORIDA, AMENDING RESOLUTION NO. 77-79, WHICH
DETERMINED CERTAIN DETAILS OF $4,000,000 WATER AND SEWER
REVENUE BONDS, SERIES 1979, OF THE CITY OF DELRAY BEACH,
FLORIDA, TO CHANGE THE DATE FROM WHICH INTEREST IS TO BE
PAID.
WHEREAS, the City of Delray Beach, Florida (the "City"), did, on
the 23rd day of July, 1979, adopt a resolution authorizing the issuance of
$4,000,000 Water and Sewer Revenue Bonds, Series 1979 (the "Bonds"); and,
WHEREAS, the City did on the 22nd day of October, 1979, adopt a
resolution determining certain details of said Bonds (the "Resolution");
and,
WHEREAS, the City has determined to amend certain provisions of
said Resolution,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That Section 1 of Resolution No. 77-79 is hereby
amended to read as follows:
Section 1. That the Bonds shall bear interest from
~evemBe~-~?-~gq~? December 1, 1979, payable on June 1, 1980,
and semi-annually thereafter on December 1 and June 1 of
each year, and shall mature annually on June 1 of each year
in the years and amounts as follows:
Principal Principal
Year Amount Year Amount
1981 $ 80,000 1993 $145,000
1982 85,000 1994 155,000
1983 90,000 1995 165,000
1984 100,000 1996 175,000
1985 100,000 1997 185,000
1986 105,000 1998 195,000
1987 110,000 1999 205,000
1988 115,000 2000 215,000
1989 120,000 2001 225,000
1990 125,000 2002 235,000
1991 135,000 2003 395,000
1992 140,000 2004 400,000
Section 2. That this resolution shall take effect upon its
adoption in the manner provided by law.
PASSED AND ADOPTED in special session on this the 7th
day of January , 19 8~
LEON M. WEEKES
ATTEST:
City Clerk