Res 12-70 RESOLUTION NO. 12-70.
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF DELRAY BEACH, IN PALM
BEACH COUNTY, FLORIDA, AMENDING
SECTION 125 THEREOF PROVIDING FOR
INTEREST ON GENERAL OBLIGATION
BONDS NOT TO EXCEED THE INTEREST
RATE AS PROVIDED BY STATE LAWS.
WHEREAS, the charter of the City of Delray Beach, Florida,
provides for an interest rate of six and one-half percent on
general obligation bonds; and
WHEREAS, such interest rates are now controlled by State
Laws; and
WHEREAS, notice of intention to apply for a local bill
was published on January 15, 1970; and
WHEREAS, a public hearing was held on January 26, 1970,
after 10 days public notice pursuant to the charter of the
City of Delray Beach, Florida; and
WHEREAS, it is deemed to be in the best interest of the
City of Delray Beach, Florida, that the interest rate on gen-
eral obligation bonds should be changed to interest rate as
provided by State Law°
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF DELRAY BEACH, FLORIDA:
The Legislature of the State of Florida is respectfully
requested to enact in the 1970 regular session an amendment
to Sec. 125 of the charter of the City of Delray Beach, which
is approved and recommended by the ~ity council of the City
of Delray Beach, Florida, a copy of said amendment being
attached and submitted herewith.
Passed and adopted this 26th day of January, 1970.
CITY OF DELRAY BEACH, FLORIDA
ATTE ST:
A b~ll lo be entitled
C e.~eh County, F!o~da 9.me~d!ng Cha~ter 25*86,
g~e.q~at L.~w~ ~f ~!oridn., .gct~ of 1940, ,~ amendS,
~ame be~n~ the Ch~rter of ~icl city by ame~din~
Be It ~n. zeted by the Le~iMature of the State of Florida:
~ .
Section I That S~etton 19s of Ch=prep ~578~ .~pemal
Laws of Plo$?~d~, .&et~ ,of 1949, ~7 a. me~2ded, ~?me bein7 the
Cbm~rteT- cf the Cfty of Delr.~y Beach, Florida, i~ ~mended to
read **; follow~:
~he city J.~ ~uthorized to issue genera! ~ligation bonds of
~¢.id city of ~uch fopm, deno~tnation end be~rin{r ~uch rate of
~ntere~t n~ to er:eeed the limttation~
,ix a~ .o~l~].~ ...... ~:m..eat ~,*m ammm~ 3.nd beco~n~n::'_ due in ~uch
time and upon such conditions g~ ma.y be determined for the
purpo:~es for which the said city ha~ the prover a~d m~.thority to
ex~end money, ~ome of which are hereinafter name.
Section 2. Ali !~w~ or part~ of laws in conflict herewith
~,.~ e, hereby repe~l~l.
Section 3. It ~g declared to be the le~f~lstive intent that if
any ;2~3or'l;icn of the~ Act is held _,,_~.v ~.li~,0 me remai~ng p~;ovisions
ef",~ ~ ~ ~;hal! ~ ~'+ ~ but