HomeMy WebLinkAboutMinutes Council 062962Whereupon, and after further discussion, the following
Resolution was duly made, seconded, and unanimously adopted:
BE IT RESOLVED BY THE CITY OF PALM BEACH GARDENS
THAT the Acting Mayor and the City Clerk are here-
by authorized and empowered, in the name of and in
behalf of the City of PALM BEACH GARDENS, to execute
a certificate of the indebtedness of the said City
to BANKERS LIFE AND CASUALTY COMPANY in a sum not
to exceed $1,000,000 (subject to adjustment upon
audit), said indebtedness to be paid by the City,
CITY OF PALM BEACH GARDENS
MINUTES OF REGULAR MEETING OF CITY COUNCIL
FRIDAY, JUNE 29, 1962
The regular meeting of the City Council was held at
1001 Park Avenue, Lake Park, Florida, on Friday, June 29, 1962,
at 10:00 o'clock A. M.
QUORUM:
The City Clerk announced that a quorum of the City Council
was present.
CITY INDEBT-
The Acting Mayor reminded the Council that on July 5, 1961
EDNESS TO
BANKERS
the Mayor and City Clerk, in behalf of the City, had executed a
LIFE AND
CASUALTY
certificate of indebtedness to Bankers Life and Casualty Company
COMPANY:
_-
in the sum of $1,600,000. He further reminded the Council that
this indebtedness now amounted to more than $2,200,000, and that
once again Bankers Life and Casualty Company had requested a
certificate of indebtedness from the City to cover the excess over
and above the first such certificate. Since this excess does now
or will shortly amount to $1,000,000, the Mayor recommended that
the Council authorize the execution of a certificate in that
amount.
Whereupon, and after further discussion, the following
Resolution was duly made, seconded, and unanimously adopted:
BE IT RESOLVED BY THE CITY OF PALM BEACH GARDENS
THAT the Acting Mayor and the City Clerk are here-
by authorized and empowered, in the name of and in
behalf of the City of PALM BEACH GARDENS, to execute
a certificate of the indebtedness of the said City
to BANKERS LIFE AND CASUALTY COMPANY in a sum not
to exceed $1,000,000 (subject to adjustment upon
audit), said indebtedness to be paid by the City,
Regular Meeting of City Council
Palm Beach Gardens
June 29, 1962 (continued)
together with interest at five per centum (5%)
per annum upon unpaid balances, that this certificate
of indebtedness is to be superseded by formal bonds
or notes of the City as soon as formal financing can
be fabricated and validated; and
BE IT FURTHER RESOLVED THAT a certified copy of this
Resolution be forwarded by the City Clerk to BANKERS
LIFE AND CASUALTY COMPANY.
ADJOURNMENT: There being no further business, the meeting was
adjourned.
ATTEST:
Av'
CITY `CLERK `---��
APPROVED:
ICE MAYOR, ACTING AS MAYOR
NORMAN D. ROWLAND
W —L CARGI
Z
PAULA D. DOOLEN
HORACE S. MILLER
L. J. LEHANE
RESOLUTION NO.
BE IT RESOLVED BY THE CITY OF PALM BEACH
GARDENS THAT the Acting Mayor and the City Clerk
are hereby authorized and empowered, in the name of
and in behalf of the City of PALM BEACH GARDENS,
to execute a certificate of the indebtedness of the said
City to BANKERS LIFE AND CASUALTY COMPANY
in a sum not to exceed $1, 000, 000 (subject to adjust -
ment upon audit), said indebtedness to be paid by the
City, together with interest at five per centum (5%)
per annum upon unpaid balances, in not less than
fifteen (15) years; provided, however, that this
certificate of indebtedness is to be superseded by
formal bonds or notes of the City as soon as formal
financing can be fabricated and validated; and
BE IT FURTHER RESOLVED that a certified copy of
this Resolution be forwarded by the City Clerk to
BANKERS LIFE AND CASUALTY COMPANY.
ORMAN D. ROWLAND
VICE MAYOR, ACTING AS MAYOR
APPROVED:
W. L . CARGII—L, (ITY`G', ERK
7
Jun*- Z9. 195Z
Bankers Life and Casualty Company
4444 West L,awree Avenue
Chicago 30, Illinois
Dear Sirs:
This official ftakno"ledg rnont has bean prepared by the City of Palm
Beach Gardens to fulfill the mandate of the City Council under a resolution duly
adopted at a regular meeting held at 10:00 o'clock A. W., on dune 29. 1962
at i G01 "marl; .- venue, lake Park, Florida, the relevant suss- section of which
resolution reads as follawa:
"BE IT RESOLVED BY T14E CITY OF PAL)d BEACH GARDENS
THAT the Acting Mayor and the City Clerk are hereby autbo»
rieed and empowered, in the name of and in behalf of the City
of PALM BEACH GARDENS, to execute a certificate of the
Indebtedness of the said City to BAN KZ" Llhr E AND
CASUALTY COMPANY in a sumo not to exceed $1, 004, € 00
(subject to adjustment upon audit), said indebtedness to be
paid by the City, togetbe r with f -terest at give per centum
(Sfa) per annum upon unpaid balances, in not lass than fifteen
(15) bears; provided, however, that this certificate of in-
debtedness is to be superseded by formal bonds our notes
of the City as soon as formal financing can be fabricated
and validated. „
Y,
In accordanee with ON provisions of the foregoing resolution the Mayor
and the City Clerk hereby forward to Bankers Life and Casualty Company this,
the City's acknowledgment of indebtedwass in the estimated xamunnt of $1, 000, 000
(subject to adjustment upon audit), this, also, constituting the City's agreement
to pay the same, with interest at 5% upon unpaid balances. in not less than fifteen
(15) years; together with this statement that this acknowledgment at indebtednese
is to be superseded by the formal boards or notes of the City as soon as the formal
financing can be fabricated and validated.
IN"Wi'I NZSS WHEREOF, the City of Palm Beach Gardens has caused this
Official Acknowledgment to be executed an its behalf by its Vice Mayor and its
Bankers Life and Casualty Company »2» Juno 29, 1962
City Clerk. pursuant to mandate aad directive of the City Council of the City
of Palln Reach Gardens, and its seal to be hersvx" affixed and attested by
the City Clerk of the City of Palen Heach **"*as, all as of the day and year
first above written.
(SEAL)
CITY OF PALM BEACH GARDENS
ley 1 Vice Mayor, aeti __
_ a8 as �a►yor
ATTEST-
City Cfsrk _ `
ADJOURNMENT: There being no further business to come before the Council, the
meeting was adjourned.
ATTEE :: APRROVED:
WILLIAM L. - CARGILL, CI7k CLERK. °NORMAN D. ROWLAND, ACTING' MAYOR
NORMAN D. ROWLAND
�w' �46 �vl �i' (21
WILLIAM L. CARGAL ` ---^
PAUL D. DOLLEN /
HORACE S. FILLER
a r. LEM"
C O U N C I L