Res 1474-64 RESOLUTION NO. _ 1474
i RESOLUTION AWARDING $1,~0,000
WATER AND SEWER REVENUE REFUNDING
BONDS OF THE CITY OF DELRAY BEACH,
FLORIDA.
WHEREAS, the City of Delray Beach, Florida, has by resolu-
tion duly adopted on the 12th day of December, 1963, authorized the
issuance of $1,5~0,000 Water and Sewer Revenue Refunding Bonds of
the City, dated December l, 1963, for the purpose of refunding and
refinancing the Outstanding Water Revenue Certificates, Series 1957,
of the City, dated June l, 19~7; and
WHEREAS, B. J. Van Ingen & Co. Inc. and Goodbody & Co. have
offered to purchase said Bonds at the price of par and accrued inter-
est to the date of delivery thereof, for said Bonds bearing interest
at the rate of three and ninety-hundredths per centum (3.90%) per
annum on the Bonds maturing in the years 1964 to 1980, inclusive; at
the rate of three and eighty-hundredths per centum (3.80%) per annum
on the Bonds maturing in the years 1981 to 198~, inclusive, and at
the rate of three and seventy-five hundredths per centum (3.75%) per
annum on the Bonds maturing in the years 1986 to 1990, inclusive; and
WHEREAS, this City Council has determined that said offer
is the highest and most advantageous offer available for said Bonds
and that the acceptance of said offer is in all respects in the best
interests of the City of Delray Beach and the inhabitants thereof,
now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DELRAY
BEACH, FLORIDA:
Section 1: That the proposal of B. J. Van Ingen & Co. Inc.
and Goodbody & Co., named in the preambles hereof, be and the same is
hereby accepted and the following described Refunding Bonds of the City
of Delray Beach, Florida, be and the same are hereby awarded to said
purchasers, as follows:
$1,550,000 - WATER AND SEWER REVENUE REFUNDLNG BONDS,
dated December 1, 1963, in the denomina-
tion of $5,000 each, numbered i to 310,
inclusive, bearing interest (payable
semi-annually on June i and December l)
at the rates per annum and maturing
on June i of each year, in years and
amounts as follows:
Interest Rate Interest Rate
Year Amount Per Annum Year Amount Per Annum
1964 $50,000 3.90% 1978 $50,000 3.90%
1965 ~0~ 000 3.90% 1979 50,000 3.901
1967 80,000 3.9o~ 1981 55,000 3
1968 80,000 3.90~ 1982 55,000 3
1969 3 5,000 3 · 90~ 1983 60,000 3- 80
Z970 3 5,0o0 3.90~ 1984 60,000 3 · 8O
1971 40,000 3.90~ 1985 65,000 3.8C
o;OOO %ooo
ooo 3.90 1987 7o, ooo 3 · 7 5
197 .
1974 45,000 3 90% 1988 70,000 3.75
45,000 3]90% 1989 75,000 3.754
1975.
197b 45,000 3 _90% 1990 75,000 3.75~
1977 50,000 3 ] 90%
Section 2. That the proper officers of the City be and
they are hereby authorized to execute and deliver said Bonds when
prepared to the purchasers thereof upon payment of the purchase price
and accrued interest to the date of delivery thereof without further
authority from this City Council.
Section 3. This resolution shall take effect immediately.
Passed and adopted this 29th day of January, 1964.
ATTES~ / ~
STATE OF FLORIDA )
COUNTY OF PALM BEACH )
I, R. Di WORTHING, do hereby certify that I am the duly qualified
and acting City Clerk of the City of Delray Beach, Palm Beach County,
Florida.
I further certify that the above and foregoing constitutes a
true and correct copy of the minutes of a meeting of the City Council
of said city held on January 29, 196~, and of a resolution adopted at
said meeting, as said minutes and resolution are officially of record
in my possession.
IN WITNESS WHEREOF, I have hereunto subscribed my official signature
and impressed hereon the official seal of tJ~e City of D~lray~ach this
(SEAL)