1999-024 NEED Country Club Renovation Loan with Fidelity Federal $800,000
RESOLUTION 1999-24 CClub Renovation Loan with Fidelity Federal
Minutes of Regular Session
Held Thursday, May 13, 1999:
RESOLUTION 24-99 ADOPTED – AUTHORIZING $800,000 NOTE WITH FIDELITY
FEDERAL FOR COUNTRY CLUB RENOVATION
President Pro Tem Vastola moved that Resolution 24-99 be read by title only. Vice Mayor
Tringali seconded the motion, and all present voted aye.
President Pro Tem Vastola moved that Resolution 24-99 entitled:
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM
BEACH, FLORIDA; AUTHORIZING THE ISSUANCE OF A NOTE OF THE VILLAGE IN
THE PRINCIPAL AMOUNT OF $800,000 TO FINANCE CAPITAL EXPENDITURES
RELATED TO THE RENOVATION OF THE VILLAGE’S COUNTRY CLUB
RESTAURANT; PROVIDING THAT SUCH NOTE SHALL BE A LIMITED OBLIGATION
OF THE VILLAGE SECURED BY FRANCHISE FEES AND PUBLIC SERVICES TAXES
OF THE VILLAGE; PROVIDING FOR THE RIGHTS, SECURITIES, AND REMEDIES FOR
THE OWNER OF SUCH NOTE; MAKING CERTAIN COVENANTS AND AGREEMENTS
IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE
Be adopted. Vice Mayor Tringali seconded the motion. The motion passed 4-1, with President
Pro Tem Vastola, Vice Mayor Tringali, Councilman Norris and Mayor Eissey voting aye, and
Councilman O’Meilia voting nay.
Unable to Locate Resolution 1999-024 (8/22/2008 cw)
This Bank Loan was subsequently refinanced in November 2000 by Resolutions
2000-71 & 2000-72
Minutes of Regular Session
Held Thursday, November 9, 2000:
RESOLUTION 71-2000 ADOPTED – AUTHORIZING LOAN DOCUMENTS WITH
FIRST UNION NATIONAL BANKOF FLORIDA FOR LOAN NOT TO EXCEED
$860,000 TO REFINANCE COUNTRY CLUB LOAN AND TO FINANCE CERTAIN
CAPITAL EQUIPMENT
RESOLUTION 72-2000 ADOPTED – AUTHORIZING THE ISSUANCE OF A NOTE
OF THE VILLAGE IN THE PRINCIPAL AMOUNT OF $860,000 TO REFINANCE A
PROMISSORY NOTE OF THE VILLAGE AND TO FINANCE VARIOUS CAPITAL
EXPENDITURES