HomeMy WebLinkAboutCity of Tamarac Resolution R-1975-067Y.
'This' Resolution Introduced By:
Councilman Tucker
Temporary No. �I'VJ
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. 75-67
A RESOLUTION AWARDING $650,000 GENERAL
OBLIGATION BONDS OF THE CITY OF
TAMARAC, FLORIDA.
WHEREAS, the City of Tamarac (herein called "City")
has heretofore authorized the issuance of $650,000 General
Obligation Bonds (hereinafter called "Bonds") to finance
the cost of acquiring a building for use as a City Hall; and
WHEREAS, it is deemed necessary and desirable and in
the best interest of the City that said Bonds be sold at this
time; and
WHEREAS, the Bank of Tamarac, Tamarac, Florida has
offered to purchase said Bonds at the price of par plus
accrued interest to the date of delivery, said Bonds to bear
interest at the rate of six per centum.(6%) per annum, subject
to the successful validation of said Bonds; and
WHEREAS, it is deemed in the best financial interest
of the City to accept the proposal of said Bank of Tamarac;
NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF TAMARAC,
FLORIDA:
SECTION 1: That the $650,000 General Obligation
Bonds of the City, dated July 1, 1975, maturing serially on
July 1 in the years 1981 to 1990, inclusive, bearing interest
payable semi-annually on January 1 and July 1 of each year,
at the rate of six per centurn (6%) per annum, callable as
provided in the resolution authorizing the issuance thereof,
be and the same are hereby awarded and sold to the Bank of
Tamarac, Tamarac, Florida at the price of the par value there-
of plus accrued interest to the date of delivery thereof.
SECTION 2: That the award and sale of said Bonds hereby
is subject to the execution of the Bond sale and purchase the
successful validation of said Bonds in the Circuit Court for
Broward County, Florida.
SECTION 3: That, upon the validation thereof and the
expiration of the appeal period in said validation, the proper
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officers of the City be and they are hereby authorized to
execute said Bonds and to do and perform any and all things
for the purpose of effectuating delivery of said Bonds to said
purchaser.
SECTION 4: This resolution shall take effect
immediately.
ATTEST:
ACTING CITY CLE
1
PASSED, ADOPTED AND APPROVED this 15th day of May, 1975.
6
Vice MAY80
I HEREBY CERTIFY that I have
approved the form and correctness
of this Resolution.
RECORD OF COUNCIL VOTE
MAYOR - D. JOHNSON
V / M - E. LANGE I
C / W • H. NIA'SIVRO
C/M•6► 1UCK,:R
C / M - M. GLICKSMAN I
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