Res 48-80 RESOLUTION NO. 48-80
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY
BEACH, FLORIDA, AWARDING $580,000 CITY OF DELRAY BEACH,
FLORIDA GARBAGE AND TRASH COLLECTION REVENUE BONDS,
SERIES 1980.
WHEREAS, the City Administration has negotiated with Barnett Bank
of Palm Beach County, First Marine Bank and Trust Company of the Palm
Beaches and Sun First National Bank of Palm Beach County for the sale of
$580,000 City of Delray Beach Garbage and Trash Collection Revenue Bonds,
Series 1980; and,
?~HEREAS, each bank has offered to purchase its pro rata share of
said bonds at an annual interest rate of 6.5%,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the offer of Barnett Bank of Palm Beach County,.
First Marine Bank and Trust Company of the Palm Beaches and Sun First
National Bank of Palm Beach County to purchase the $580,000 City of Delray
Beach Garbage and Trash Collection Revenue Bonds, Series 1980, at an
annual interest rate of 6.5% be and the same is hereby accepted; and that
these bonds are hereby awarded and sold to said purchasers as follows:
PURCHASER AMOUNT
Barnett Bank of Palm Beach County $190,000
First Marine Bank and Trust Company 195,000
of the Palm Beaches
Sun First National Bank of Palm 195,000
Beach County
Section 2. That the proper officers of the City of Delray Beach,
Florida, be and they are hereby authorized and directed to execute said
Bonds when prepared and to deliver the same to said purchasers without
further authority from this City Council.
Section 3. That this resolution shall take effect upon its
adoption in the manner provided, by law.
PASSED AND ADOPTED in regular session on this the 10th
day of June , 1980.
bl A Y 0 R
LEON M. WEEKES
ATTEST:
City Clerk
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