HomeMy WebLinkAboutMinutes Council 072469SPECIAL MEETING
ROLL CALL
RESOLUTION #30
IMPROVEMENT
CONSTRUCTION FUND
ACCOUNTS
CITY OF PALK BEAM GARDENS
SPECIAL MEETING OF THE CITY COUNCIL
5:15 P.M.
July 24, 1969
Mayor Jewett called for a Special meeting of the Palm Beach
Gardens City Council for Thursday at 5115 P.M., July 24, 1969
to act on Resolution #30, 1969 which authorizes signatures
for accounts created for Improvement Construction Funds for
the City of Palm Beach Gardens Revenue Bonds. Notice was
not posted as this meeting was called on emergency to assure
the Council a quorum for the meeting as Council members were
scheduled for vacations from their employ4ment. Mayor Jewett
announced: "The necessity for the Special meeting was that
we would not have a quorum for the next regular meeting of
the 28th of July and that it would be two weeks thereafter
until the next regular meeting and we would be losing all
the interest on the $286,000 for two weeks if we did not
pass this Resolution at this time and therefor we thought
it was necessary to increase the Cityts assets by calling the
Special meeting."
Mayor Jewett directed the City Clerk to call roll. Present
were: Councilman Bonner, Councilman Walker and Mayor Jewett.
Motion to read Resolution #30, 1969, Authori zing signatures
and creating accounts for Improvement Construction Funds,
Franchise Taxes Fund, Improvement Revenue Bond Sinking Fund
and Improvement Revenue Bond Reserve Account. Voting on the
notion to read 3 ayes and 0 nays. The City Clerk was instructed
to read Resolution #30. Motion to adopt by Councilman
Walker seconded by Councilman Bonner. Each established
account was reviewed along with explanation by Attorney Brant.
Voting on the notion to adopt 3 ayes and 0 nays.
DEPOSIT FUNDS Motion by Councilman Bonner that proceeds from issuance
of the bonds remain on deposit at the First American Bank
and that receipts be paid to the bond holders in Improvement
Construction Fund as the Construction time table as
presently envisioned will not require the use of the funds
for approximately 6 months; seconded by Councilman Walker.
Vote 3 ayes and 0 nays.
ADJOURNMENT Motion by Councilman Walker seconded by Councilman Bonner
to adjourn. Vote 3 ayes and 0 nays.
Time or the record 5 :45 P.M.
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Henfi, AavoV
G"rge R.''dIanck', Vice Mayor
GeorWA. Bonner, Councilman
Attests
Thelma Compton,JCity Clerk
B�kne P. Walker, Councilman
Thomas R. Prentiss, Councilman