Res 1409-62 RESOLUTION NO. l~O9.
A REsoLUTION OF THE CITY COUNCIL OF THE
CITY OF DELRAY BEACH, FLORIDA, . AUTHORIZ-
ING AND INSTRUCTING THE FISCAL AGENTS TO
PROCEED WITH THE ADDITIONAL FINANCING FOR
SANITARY S~ I~PROV~TS IN THE ESTI-
mATED A~OUNT OF~ $2,600,000 IN ACCORDANCE
WITH PLAN C, AS REVISED IN PROPOSAL BY
SAID FISCAL AGENTS DATED JULY 30, 1962
'~EREAS, the City of Delray Beach, Florida, re-
cently entered into an agreement with B. J. Van Ingen &
Co. and Goodbody & Co. employing said companies to act as
fiscal agents for the City relative to additional financing
for contemplated sanitary sewer improvements in an estimated
amount of Two Million Five Hundred Thousand ($2,500,000)
Dollars; and
WHEREAS, said fiscal agents, in a letter dated
July 30, 1962, presented a revision to Plan C, which plan
is now deemed by this Council to be in the best interest of
the City of Delray Beach, Florida;
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Delray Beach, Florida' as follows:
SECTION 1. B. J. Van Ingen & Co. and Goodbody &
Co., as fiscal agents for this City, are hereby authorized
and instructed to proceed with P18n C, as revised, for the
additional financing of certain contemplated sanitary sewer
improvements in an estimated amount of $2,600,000.
SECTION 2. The fiscal agents will pay all necessary
expenses involved in bringing the bonds to market, including
approving attorneys' fee, printing of blank bonds, cost of
signing and deliverY of ssme, preparation of the official
offering prospectus, submission to bond rating agencies, and
all bond validation costs, excluding the fee of the City
Attorney.
SECTION 3. The City will pay the fiscal agents,
upon the sale and deliVery of the bonds, a fee equal to Four
Dollars and Ninety ($4.90) Cents per one thousand dollar
bond issued and sold' it being understood that the aforesaid
fee is payable only if said bonds are sold and delivered.
PASSED AND ADOPTED by the City Council of the City
of Delray Beach' FlOrida, on this the 27th. day of August,
1962.
ATTEST:
City1. O!erk
..... ~ ~ a~-~T~ ~II~ G,
I, ~~ D. ~ ~ ~ City Clerk in and for the City of
Delr~y Beach, Palm Beach County, Florida, do hereby certify
the foregoing to be a true and correct copy of RE~OLUTION
YO. 1~09, passed a~d adopted by the City Council, in regular
session, on Monday, August 27th, 1962..~.~ //?,
City Clerk~/
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