1972.05.15_TC_Minutes_Special MINUTES: WRX94f&P MEETING OF THE TOWN COMMISSION - May 15, 1972
U
A Special meeting of the Town Commission was called to order by Mayor
Horton on Monday, May 15, 1972 at 4 :30 P.M. All Commissioners, Mrs.
Roberts, Town Attorney Poulton, and an interested resident were in
attendance.
The Mayor read a proposed "Ordinance providing for the acquisition of
real property to be used for municipal purposes by the Town; providing
for the issuance of not exceeding $100,000. excise tax bonds of such
Town to pay the cost of such project; providing for the rights of the
holders of such bonds; providing for the payment thereof and making
certain other covenants and agreements in connection with the
issuance of such bonds."
This was the first reading.
The meeting adjourned at 5 :00 P.M.
APPROVED:
d�
ATTEST:
Town Clerk
DATED:
L�
EXTRACTS FROM THE MINU'1'.:5 ur re _41'{ .
• r MEETING OF THE
OF �.D �� VV
HELD ON THE DAY OF , 19a
The 6 ) �Ab�$�.�.��
of
met in _ meeting at 1�2 ,
_�_
in the of �c.C�r� , at
_ o'clock
; e- I . ' '
M. on the -, day.of 1 A 2 j ,
19�' ,, the place, hour, and date duly established 'for the hold-
ing of such meeting.
The called the, meeting to order
and on roll call the following answered present:
4 ,4,1 - 9 44
j
' lV•
• ,
and the Vollowing were absent:
The declared a quorum present.
A Resolution entitled :.
was introduced by Mr.
` ,
Said Resolution was then read in,full. and discussed
and considered.
Mr then moved the adoption
of the Resolution as Ant oduced and read. Mr.
seconded the motion, and, on roll call, the f lowing voted "Aye ":
and the following voted "Nay ":
The _ � � thereupon declared the motion
carried and the Resoluti n adopted as introduced and read.
There being no further business to come before the
meeting, upon motion duly made .and seconded, the meeting
was
adjourned.
-2-
RESOLUTION CANVASSING THE RESULTS OF A BOND
ELECTION HELD IN THE TOWN OF HIGHLAND BEACH,
FLORIDA, ON MAY 2 1972.
WHEREAS the Town Commission of the Town of Highland
Beach, Florida, by Resolution duly and regularly adopted at its
meeting held on the day of 1972, did call an
election to be held on the 2nd day of May, 1972 for the purpose of
submitting to the qualified electors residing within the Town, for
their approval or disapproval of the question of whether the Town
should issue general obligation bonds in the aggregate principal
amount of not exceeding $965,000.00 bearing interest at a rate or
rates not to exceed the maximum rate fixed by law, and said Resolu-
tion having further provided and did direct that notice of said
election be given by publication in accordance with law; and
WHEREAS, due and regular notice of said bond election has
been published in the .4�zu, a newspaper of
general circulation in Highland Beach, Florida, said publication
having been made once each week for.four consecutive weeks, with the
first publication thereof being not less than thirty days prior to
the date of said special election, to -wit: May 2, 1972; in addition
copies of such Notice were posted in at least ten different places
within the territorial limits of the Town; and
WHEREAS, pursuant to the aforesaid Resolution calling
said election and in accordance with law, the question in said Resolu-
tion stated was submitted to the qualified electors residing in said
Town for participation in the election on the date specified in
said Resolution, to -wit: May 2, 1972; and
WHEREAS, it is necessary and desirable that the qualified
electors residing in the Town approve the issua►noe of Such bonds; and
WHEREAS, it appears that the list of qualified electors
who voted at such election, have been returned to this Commission
by the inspectors and clerks.together.with the returns hereinafter
mentioned; and
WHEREAS, it appears that said election has been duly
and properly held in accordance with law and that the votes cast
thereat have been returned, delivered and canvassed, and that the
returns of said election have been delivered to this Commission for
the purpose of canvassing said election returns.and determining and
i
certifying the results thereof; and
WHEREAS, it.appears from the official returns of said
i
election so delivered to this Commission and so canvassed by this
Commission as aforesaid that the total number of•votes cast in
said election by such qualified electors, as above described, resid-
ing in said Town approved the issuance of the bonds.
NOW, THEREFORE, BE IT RESOLVED, DETERMINED, FOUND, DE-
CLARED AND HEREBY CERTIFIED by the Town Commission of the Town of
Highland Beach, Florida, at a meeting of said Town Commission, duly
and regularly held, at which the said official returns of said elec-
tion have been duly and regularly canvassed according to law, as
y follows that:
1. Proposition No. 1, submitted to such electors at such,
special bond election held on May 2, 1972 was as follows:
Shall the Town of Highland Beach, Florida issue
not exceeding $300,000 principal amount of general
obligation bonds of the Town bearing interest at
not exceeding the maximum legal rate of interest
at the time of the sale of the bonds, maturing not
later than thirty (30) years from the date of is-
suance thereof, payable from.ad valorem taxes
levied on all taxable property in the Town with-
out limit as to rate or amount for the purpose
of financing the cost of acquiring and construc-
ting a new Town Hall and the remodelling and ren-
ovation of the present Town Hall to be used as a
Police Complex as more specifically described and
provided in Resolutio No. of the Town, adopt-
ed on da of 19722
y
a The total number of k;ote.s cast in such election by
said qualified electors residing in said Town in favor of the is-
suance of the bonds described in the above stated question was
-2-
(b) The total number of votes cast ILL 0u..,. •rivv.. _._ ._,
said qualified electors residing in said Town against the issuance of
the bonds described in the above stated question was
•
2. Proposition No. 2, submitted to such electors at
such special bond election held on May 2, 1972 was as follows:
Shall the Town of Highland Beach, Florida issue
not exceeding $665,000 principal amount of gen-
eral obligation bonds of the Town bearing interest
at not exceeding the maximum legal rate of interest
at the time of the sale of the bonds, maturing not
later than thirty (30) years from the date of is-
suance thereof, payable from ad valorem taxes levied
on all taxable property in the Town without limit
as to rate or amount for the purpose of.financing
extensions, additions and improvements to the water
system of the Town as more specifically described
and provided in Resolution No..Ifq of the Town ad-
opted on the day of 1972?
„(a) The total number of votes cast in such election by
said.qualified electors residing in said Town in favor of the is-
suance of the bonds described in the above stated question was
(b) The total number of votes cast in such election by
�- said qualified electors residing in said Town against the issuance
of the bonds described in the above stated question was J'
3. A majority of the votes cast in such election by
such qualified electors approved each of the issue of bonds sub-
mitted at such election as described in the questions above stated.
4. Said election was in all respects conducted in ac-
cordance law, and that all steps in connection with and pre-
ceding such election have been duly, regularly and lawfully taken and
had, and that all provisions of the statutes and Constitution of the
State of Florida have been duly complied with.
5. ' returns be entered and recorded in the minutes
of the Town Commission; and this Resolution, determination, find-
ing, declarationand certificate be recorded in the minutes of said
Commission.
Passed this _ day of May, 1972,
l '
The undersigned HEREBY CERTIFIES that:
1 H is the appointed, u if i
.� duly pp d, q al and act ng
Of the �S'GC_/
(herein called the ) , and - eeper oT the
records thereof, including the minutes of its proceedings;
2. The annexed copy of extracts from the mi t of
the eeting of th
held on the day of , 19;-
a true, correct, and compared copy the whole of the original
minutes of said meeting'on file and of record'insofar as the
same relate to the resolution referred to in said extracts•and
to the other'matters referred to therein;
S. Said meeting was duly convened in conformity with
all applicable requirements; a proper quorum was present through-
out said meeting and the resolution hereinafter mentioned was
duly proposed, considered, and adopted in conformity with appli-
cable requirements; and all other requirements and proceedings
incident to the proper adoption of said resolution have been duly
fulfilled, carried out, and otherwise observed;
46 a is duly authorized to execute this Certificate;
and
5. The copy of the resolution hereto entitled:
J
If
1 .
is a true, eotrect, and compared copy of the original resolution
referred to 1 'said extracts and as finally adopted at said meet -
s 1
in and to the extent required by la w, a thereafter d Y signed
o roved b - the proper off icer or off icers . of the
,.J , which resolution is on file and of cord.
77Y WITNESS m hand and the seal of the
Y
� this. � day of ,, 19 .g
74 ?_
;.
(SEAL)
EXTRACTS FROM THE MINUTES OF A
r '
AV
MEETING OF THE
OF 41 4
HELD ON THE DAY OF _, 19�
The
of
met in meeting at h
in the of 6 shy ? at
_c—to _ o' clock.M. on the r day of 1 _.
19'�� the place, hour, and.date duly established for the hold-
ing of such meeting.
The 4 called the meeting to order
and on roll call the following.answered present:
and the llowing were absent:
The declared a quorum present.
A Resolution entitled:
, _ U
° r .
c
was introduced by Mr. .
Said Resolution was then read in full and discussed
and considered
i
i
i
Mr. then moved the adoption
of the Resolution a in roduced and read. Mr.
seconded the motion, and, on roll call, the fol owing voted "Aye":
I
f'
and the following voted "Nay":
The thereupon declared the motion
carried and the Resolution adopted as introduced and read.
There being no further business to come before the
meeting, upon motion duly made and seconded, the meeting was
adjourned..
a
A RESOLUTION OLU�ION PROVIDING FOR THE ISSUANCE OF
GENERAL OBLIGATION BONDS OF THE TOWN OF �+
HIGHLAND BEACH, FLORIDA, NOT TO EXCEED IN�
THE AGGREGATE $965,000 FOR THE PURPOSE OF
CONSTRUCTING AND ACQUIRING VARIOUS MUNI-
CIPAL PURPOSES IN THE TOWN AND CONTAINING
OTHER PROVISIONS RELATING TO SUCH BONDS.
BE IT RESOLVED BY THE COMMISSION OF THE TOWN OF HIGH
LAND BEACH, FLORIDA:
SECTION 1,. 'AUTHORITY FOR THIS RESOLUTION. This Resolu-
tion is adopted pursuant to the provisions of Chapter 25875, Laws
of Florida, Special Acts of 1949, as amended and supplemented, and
other applicable provisions of law.
SECTION 2. FINDINGS.':,It is hereby found, determined
.and declared as follows, that:
I
A. It is necessary, desirable, and in the best interest
of the Town of Highland Beach, Florida .(hereinafter called "Town "),
and its inhabitants that general obligation bonds in an amount not
exceeding $965,000.be issued for the purpose of constructing and
•acquiring.extensions, additions and improvements to the water system
of the Town;.acquiring and .constructing a new Town Hall and of re-
modelling and renovating the present Town Hall'to be used as a
Police Complex (hereinafter'called "project ").
B. The issuance of such general obligation bonds was
approved by a majority of.votes cast in a bond election held May 2
1972, by the qualified electors of the Town in. the manner required
by the 'Constitution.and Statutes of the State of Florida.
.C. Such general obligation bonds together with all other
outstanding .general obligation bonded indebtedness of the Town, does
not exceed ten per centum (10 %) of the assessed valuation of all real
and personal property situated within the corporate limits of the
Town according to the'last assessment for municipal purposes.
SECTION 3. RESOLUTION TO CONSTITUTE CONTRACT. In consid-
eration.of the acceptance of the bonds authorized to be issued here-
under by those who shall hold the same from time to time, this
Resolution shall be deemed to be and shall constitute a contract
between the Town and such holders. The covenants and agreements
herein set forth to be performed by the Town-shall be for the equal
benefit, protection and security of the legal holders of any and
all of such bonds and the coupons attached thereto,.all of which
shall be of equal rank and without preference, priority or distinc-
tion of any of the bonds or coupons over any other thereof, except
as expressly provided therein and herein.
.SECTION 4. AUTHORIZATION OF BONDS. .Subject and pursu-
ant to the provisions of this.Resolution, bonds of the Town to be
known as "General Obligation Bonds", herein sometimes referred to
as "Bonds ", are hereby authorized to be issued the aggregate princi-
pal amount of not exceeding Nine Hundred Sixty -Five Thousand Dollars
($965,000) for the construction and acquisition of said project.
SECTION 5... "..DESCRIPTION OF BONDS. The Bonds shall be
dated August 1, 1972; shall: be numbered consecutively from one up-
ward in the order:of.their. maturities; shall.be in the denomination
of $5 each; shall .bear interest at not exceeding the maximum
legal rate,.such interest to be payable semi - annually on February 1
and August 1 of each.year, and shall mature serially in
order, lowest numbers first, on the first.day•of August in the years
and amounts as follows:
YE AMOUNT YEAR AMOUNT
1975 $20 1986 • $40, 000
1976 25 000 1987. 40
.1977 25, 000 1988 45
1978 25, 000 . 1989 45
1979 25 1990, 50
1980 30 1991 50
1981 30, 000 1992 55
1982 30,000 1993 55, 000
1983 35 1994 60, 000
1984 35,.000 1995 65
1985 40, 000 1996 70, 000
1997 . 70
..4 Such bonds shall be issued in coupon form; shall be pay-
able to bearer unless registered as hereinafter provided; shall be
payable with respect to both principal and interest in lawful money
of the United States of America, at such bank or banks to be subse -.
quently determined by the Town prior to the delivery of the Bonds;
and shall bear interest from their date, payable in.accordance with
and.upon, surrender of the appurtenant interest coupons as they
severally mature.
SECTION 6. EXECUTION OF BONDS AND COUPONS. The Bonds
shall be executed in the name of the Town by the Mayor - Commissioner
and countersigned and attested by the Clerk, and its corporate seal
or a facsimile, thereof shall be affixed thereto or reproduced there-
on. The facsimile signatures of the Mayor - Commissioner or the Clerk
may be imprinted or reproduced on the Bonds, provided that at least
s
one signature required to be placed thereon shall be manually sub-
scribed. In.case any officer whose signature shall appear on any
Bonds shall cease to be such officer before the delivery of such
Bonds, such signature or facsimile shall nevertheless be valid and
sufficient for all purposes the same.as if he had remained in of-
fice until such delivery... Any Bond may be signed and sealed on be-
half of the Town by such person who at the actual time of the execu-
tion of such Bonds shall hold the proper office with the Town, al-
though at the of such Bonds such person may not have held such
i office or may not have been so authorized.
f
The coupons attached to the Bonds shall be authenticated
with the facsimile:signatures of any present or future Mayor-Commis-
sioner and Clerk of the Town, and the validation certificate on the
Bonds shall be executed with the facsimile signature of the Mayor -
r
Commissioner. The Town may adopt and use for such purposes the
facsimile signatures of any persons who shall have been such Mayor-
Commissioner and Clerk at any time on or after the date of the Bonds
notwithstanding that they may have ceased to be such officers at the
time such Bonds shall be actually delivered.,
SECTION 7. NEGOTIABILITY AND REGISTRATION. The Bonds
issued hereunder shall be, and shall have all of the qualities and
incidents of negotiable instruments under the law merchant and the
Laws of the State of Florida, and each successive holder, in accept-
ing any of such Bonds or the•coupons appertaining thereto, shall be
conclusively deemed to have agreed that such Bonds shall be and have
all of the qualities and incidents of negotiable instruments under
the law merchant and the Laws of the State of Florida...
The Bonds may be. at the option of the holder
as to principal only at the office of the Clerk as Registrar, or such
other Registrar as may be hereafter duly appointed, such registra-
tion to be noted on the back of the Bonds in the space provided
therefor.. After such registration as to principal only, no transfer
of the Bonds shall be valid unless made at such office by written
assignment of the registered owner, or by his duly authorized at-
I •
torney in a form satisfactory to the Registrar, and similarly noted
on the Bonds,:but the Bonds may be discharged from registration by
being in like manner transferred to and thereupon transfer -
ability by delivery shall be restored. At the option of the holder,
any obligation may thereafter again from time to time be registered
or transferred to bearer before. Such registration as to princi-
pal only shall not affect the negotiability of the coupons which shall
continue to pass by delivery.
t
SECTION. 8..- BONDS, MUTILATED, DESTROYED, STOLEN OR LOST.
any... obligation shall. become mutilated, or be destroyed,
stolen or_lost,_the_Towrt. may in its discretion issue and deliver a
new Bond with all unmatured coupons attached, if any, of like tenor
'? as -the. Band and attached coupons, any, so mutilated, destroyed,
• stolen or lost, in,exchange and substitution for such mutilated
I.
Bond, upon surrender and cancellation of such mutilated Bond and
i
�- ` -" "• �.vuNvaa«> •J.A- _ alAy, Qx' in l i eu of and substitution for the
Bond-'and attached coupons, if any destroyed, stolen or lost, and
upon.the holder furnishing -the Town proof of his ownership thereof
. ..and satisfactory indemnity and complying with such other reasonable
regulations and conditions as the Town may prescribe and paying
r°- such expenses as the Town may incur. All Bonds and coupons so Sur
Tended shall be cancelled by the.Auditor and Clerk of the Town. If
any such Bonds or coupons shall have matured or be about to mature,
.instead of issuing a.substitute Bond or coupon, the Town may pay
°.the same, upon being indemnified as aforesaid, and if such Bond or
` coupon be lost, stolen or destroyed, without surrender thereof.
Any such duplicate.Bonds and coupons issued pursuant'to
..,.this section shall constitute. original, additional contractural
obligations on the. part of the Town whether.or not the lost, stolen
..,,or destroyed Bonds or coupons be at any time found by.anyone, and
such 'duplicate Bonds. and coupons shall be entitled to equal and
' ..proportionate benefits and rights as to lien on and source and
.security for payment from the funds, as hereinafter pledged, to
the extent as'all. other Bonds and coupons issued hereunder.'
SECTION 9. 'REDEMPTION PROVISIONS. The Bonds shall be
, .redeemable at such times and under. such terms -and conditions as
shall hereafter be .
determined by owdinance or resolution. of the
Town Commission.. _
-of Bonds 'to 'be .redeemed. shall be given not less
•thairi 't1iirty days prior to the redemption date by registered or .
cert%fied mail to banks or'trust companies serving as paying agents
and by publication,at least once.not.less than thirty days prior. to
' such redemption date In a financial newspaper or journal of general
circulation published in the City of•New York, New York,
SECTION 10.' F0RM OF BONDS AND COUPONS.' The Bonds, the
interest coupons to be attached.thereto; and the certificate of
I7 , • ,
validation shall be in.substantially the following form, with such
omissions, insertions and variations as may be necessary and de-
sirable and authorized or permitted by this Ordinance or in any
�'-' subsequent ordinance adopted prior to.the issuance thereof:
No.
$5
UNITED STATES OF AMERICA
STATE OF FLORIDA
COUNTY'OF PALM BEACH
TOWN OF HIGHLAND BEACH
GENERAL OBLIGATION BOND
KNOW ALL MEN BY THESE PRESENTS that the Town of I 1JI, q'i
land Beach Florida (hereinafter called "Town"), for value received,
hereby promises to pay to the bearer, of if this bond be registered,
to the registered holder as herein provided on the first day of
August, 19_ from the special funds hereinafter mentioned, the
principal sum of
FIVE THOUSAND DOLLARS
, to pay solely-from such special funds, interest thereon from
the date hereof at the rate of
per centum %) per annum.until.payment of the principal sum,
such interest to the maturity hereof.being payable semi-annually
on the .first day'of-February and the first day of August in each year
upon the presentation and surrender,,of the annexed coupons as they.
severally.fall due. Both principal of and interest on this bond are
.payable in lawful,money,o of the United States of America at
or, at the*.option of the holder at
This bond is one of an authorized issue of bonds in the
,aggregate principal amount of $965.0 of like date, tenor and effect,
except as to number interest rate and.date of maturity, issued to
finance the cost of construction and acquisition of various muni-
cipal purposes in the Town (hereinafter called "project"), under the
authority of and in.full compliance with the Constitution and Statutes
of the State of Florida, including particularly Chapter 25875, Laws
of Florida, Special Acts of 1949, as amended and supplemented and
Other applicable provisions of law, and a resolution duly adopted
by the Town'on the day of May, 1972, (hereinafter called
"Resolution "), and is subject to all the terms and conditions of
such Resolution.
It.is hereby certified and recited that all acts, condi-
tions and things requir ed to happen, exist and be performed, pre-
cedent to and in the issuance of this bond, have happened, exist,
and have been performed in due time, form and manner as required
by the Constitution and Laws of the State of Florida applicable
thereto, that the issue of bonds, of which this bond is a part, has.
been approved at. an election held in accordance with the Constitution
and Laws of Florida in the Town on the 2nd day of May, 1972; that
the total'indebtedness. of the. including the issue of bonds of
which this bond is one, does not exceed any constitutional or.statu-
i
tory limitation; and that provision has been duly made for the levy
and collection of a direct annual.tax without limitation, as to rate
or amount upon all taxable property within the Town sufficient to
pay the principal of and interest on this ? bond as the same shall be-
come. due, which tax shall be levied and collected at the same time,
and in the same manner as other.ad valorem taxes.of the Town are
assessed, levied.and collected
(Provision for redemption to be inserted)
Notice of such redemption shall be given in the manner
required by the Resolution.
This bond, and the coupons appertaining thereto, are and
have all the qualities:and,incid ents..of a negotiable instrument
under the law merchant and the Laws of the.State of Florida.
This bond may be registered as to principal only in accord -
ance with the provisions endorsed hereon. -
IN .WITNESS WHEREOF, the Town of Highland Beach, Florida,
has issued this bond and has caused the same to be signed by its
Mayor- Commissioner and attested and countersigned by its Clerk,
FORM,OF COUPON
NO. $
On the 1st day of 19 the Town of High-
land Beach, Florida, will pay to the bearer at
or, at the option of the holder, at
from the special funds described in the bond to
which this coupon is attached, the amount shown hereon in lawful
money of the United States of America,'upon presentation and surrender
of this coupon, being six months' interest then due on its General
Obligation Bond 'dated August. 1, . 1972, No.
I •
TOWN OF HIGHLAND BEACH, FLORIDA
Mayor- Commissioner
( SEAL)
, ATTESTED AND COUNTERSIGNED:
Clerk
(To be inserted in coupons maturing after callable date.)
"Unless the bond to which this coupon is attached shall
have been previously duly called f.or:prior redemption and payment
thereof duly made or provided for."
VALIDATION CERTIFICATE
This bond is one of the series of bonds which were vali-
dated and confirmed by: judgment of the Circuit Court for Palm Beach
County, Florida rendered on'the day of 1972.
Mayor- Commissioner
PROVISION FOR REGISTRATION
This bond may be registered as to principal only in the
name of the holder on the books to be..kept by the
Clerk as Registrar, or such other Registrar as may be hereafter duly
appointed, such registration being noted hereon by such Registrar
in the registration blank below, after which'no transfer shall be
( .valid unless made by written assignment on said books by the registere
holder or attorney duly authorized and similarly noted in the registra.
tion blank.below, but it may be discharged from registration by being
! transferred to bearer, after which it shall be transferable by deli -
very, but it may be again registered as.before. Such registration
shall not restrain the negotiability of the coupons by delivery.
DATE OF IN WHOSE NAME SIGNATURE OF
REGISTRATION REGISTERED REGISTRAR
SECTION 11. PLEDGE OF FULL FAITH, CREDIT AND TAXING POWER.
For the prompt payment of the principal of and interest on the Bonds,
the full faith, credit and taxing power of the Town are irrevocably
pledged.
SECTION 12. LEVY OF AD VALOREM TAX. There is hereby created
a Sinking Fund to be held and administered by the Town solely for the
purpose of paying the principal of and interest on the Bonds as they
become due. in each year while any of such Bonds are outstanding
there shall be levied and collected a tax, without limitation as to
rate or amount, on all taxable property within the Town, sufficient
in amount to pay the principal of and interest on such Bonds as the`
same sha11 become due. Such tax shall.be assessed, levied and col-
lected in the same manner and at the same time as other Town taxes
are assessed, levied and collected.
Moneys on deposit in the Sinking Fund and the Construc-
tion Fund may be invested and reinvested in direct obligations of the
United States of America or in time deposits in banks or trust com-
panies represented by certificates of deposits and continuously secur-
ed as required by the laws of Florida, maturing prior to the date
on which the moneys therein will be needed.
SECTION 13. APPLICATION OF PROCEEDS .OF BONDS. All
moneys received from the sale of the bonds shall be deposited by
the Town in .a special account.in a.bank or trust company and applied
by the Town as follows:
A. All accrued interest shall be deposited in the Sink-
ing Fund.
B. The Town shall.next use the moneys in said special
account to pay all engineering fees, legal fees,.fees of.financial
advisors, cost of the issuance of the bonds, and all other similar
costs incurred in connection with the acquisition and construction of
'the system and the .issuance of the bonds to finance the cost thereof.
C.. A special fund is hereby created, established and de-
..signated as the "Construction Fund ", There shall be paid into the
Construction Fund the balance of the moneys remaining after . making all
the deposits and payments provided for in paragraphs A and 'B above.
Such fund shall be kept separate and apart from all other
accounts of the Town, and the moneys on deposit therein shall be with-
drawn used and applied by the Town solely.to the payment of the cost
of the project, as herein above described and set forth. If for any
reason such proceeds or any part thereof are not necessary for or are
not applied to the payment of such cost, then the unapplied proceeds
shall . be deposited by the Town in the ,SiAk,ing Fund. All such pro -,
ceeds shall be and constitute trust funds for such purposes.
The holders of the bonds issued hereunder shall have no
responsibility for the iinp_ of '4...� A_ -.-A -6u_ ....-
of such bond proceeds by the Town shall in no way affect the rights
of such bondholders. The Town shall be irrevocably obligated to
continue to levy and collect the ad valorem taxes as provided herein
and to pay the principal of and interest on the bonds notwithstanding
any failure of the Town to use and apply such bond' in the
! manner provided herein.
SECTION 14. MODIFICATION OR AMENDMENT. No material modi-
fication or amendment of this Resolution or of any resolution or
ordinance amendatory hereof or supplemental hereto may be.made with-
out the consent in writing of the holders of two- thirds or more in
the principal amount of the bonds then'outstanding; provided, how-
-ever, that no modification or amendment shall permit a change in the
maturity of such bonds or a reduction in the rate of interest there-
on or in the amount.of the principal obligation thereof or affect-
ing the promise of the Town to pay the principal of and interest on
the bonds as the same shall become due from the proceeds of the ad
valorem tax or reduce the percentage of the holders of the bonds re-
quired to consent to any material modification or amendment hereof
without the consent of holder or holders of such bonds.
SECTION 15. SEVERABILITY OF INVALID PROVISIONS. If any
one or more of the covenants, agreements or, provisions herein con-
tained shall.be.1held contrary to any express provision of law or
contrary-to the policy'of express law, though not expressly pro-
hibited, or against public policy, or shall for any reason whatsoever
be held invalid, then such covenants, agreements or provisions shall
be null and void.and shall be deemed separable from the remaining cov-
enants, agreements or provisions hereof or of the bonds or coupons
t ". issued hereunder.
.SECTION 16. SALE'OF BONDS.. The bonds shall be issued and
sold in such manner and at such price or prices.consistent with the
Act, all at one time or in installments from time to time, as shall
be hereafter determined by the governing body,of the Town.
SECTION 17. VALIDATION AUTHORIZED. The attorney for the
Town is authorized and directed to prepare and file proceedings to
validate the bonds in the manner provided by law.
SECTION 18. REPEALING CLAUSE. All Resolutions or parts
thereof of the Town in conflict with the provisions herein contained
are, to the extent of such conflict, hereby superseded and repealed.
SECTION 19. EFFECTIVE DATE. , This Resolution shall take
effect in the manner provided by law..
,f, T
CERTIFICATE OF RECORDING OFFICER
The undersigned HEREBY CERTIFIES that:
kIe is the duly appointed, lif ied, ctin
��� f the
(herein called the _ / ), aV keedd of the
records thereof, including the miinutes of its proceedings;
!� The annexed copy of extracts from th- mina s of
the me ting of the
' held on th __�� day of 19� is
a true, correc , and compared copy o the whole of the original
minutes of said meeting on file and bf record'insofar as the
same relate to the resolution referred to in said extracts.and
to the other matters referred to.thereirn;
3. Said meeting was duly convened in conformity with
all applicable requirements; a proper quorum was'present through-
out said meeta.ng and the resolution hereinafter mentioned was
duly proposed considered, and adopted in conformity with.appli-
Cable requirements; and all other requirements and proceedings
incident to the proper adoption of said resolution have been duly
fulfilled, cattied out, and otherwise. observed;
4 vile, is duly authorized to execute.this Certificate;
i
and
S. The copy of the resolution annexed hereto' entitled:
is a true, Co'r'rect, and compared copy of the original resolution
referred to ih said extracts and as finally adopted at said meet-
ing and, to the extent required by law, as thereafter d ly signed
o p roved by a proper officer or officers of the
which .resolution is on file and of b6cord.
'FfiIM8S, my hand and the seal of the _ ���
this ,,�.,.. d.ay of 19 �-
L
(SEAL)
RESOLUTION NO.
A RESOLUTION OF THE TOWN OF HIGHLAND BEACH, URGING THE REGISTERED VOTERS IN THE
TOWN TO -VOTE IN THE SPECIAL ELECTION, May 23, 1972, REGARDING THE PROPOSED COUNTY
CHARTER.
i
WHEREAS, Article VIII of the Constitution of
the State of Florida does provide that a county government
., may be established by charter which shall be adopted,
amended or repealed only upon vote of the electors of the
county; and
WHEREAS, pursuant to the provision and require-
ments of Part II of Chapter 125, Florida State Statutes,
a Charter Commission was formed and has conducted a study
of the operations of this County's government and of the
ways in which the conduct of this County's government
could be improved or reorganized; and
WHEREAS, the Palm Beach County Charter Commission
has now drafted a proposed Charter for reorganizing the
County's government which shall be submitted to the
qualified electors of the County in a special election at
which referendum the Charter shall be approved or rejected;
and
WHEREAS, the Palm Beach County Municipal League
has kept its membership fully apprised of the basic
features of the Charter throughout its development; and
WHEREAS, 'the proposed charter, in its final
draft, in no wise subjugates existing municipal governments
in this County or threatens their future existence; and
WHEREAS, we, the elected governing body of this
municipality, do firmly.believe in and advocate the principle
that local self government is now and always will be the
keystone of American Democracy; now, therefore, be it
resolved
(1) That the electors of this municipality,
and those throughout Palm Beach County as well, be and
a
i s
by voting in the special election to be held May 23,
1972 at which time the Charter question will be resolved.
(2) That the Palm Beach County Municipal
League be and it is hereby petitioned to neither advocate
nor oppose the adoption of the proposed charter.
(3) That a copy of this resolution be
delivered to the Palm Beach County Municipal League
and the members of the local press.
C�,
i