NPBPLibrary Bonds for Library construction ACC 1968 226o,e..jcf6
PARTICIPATION IN ISSUANCE OF $425,000 of NP13 R. Bell, Nice -Mayor - Dolores R. Walker, Village
Village Bonds werec Seated. Roy Talmo,. President of Clerk - William D. Kendrick, Executive Vice Presi-
First American Bank; Standing left to right. David C. dent of First American Bank - Frank Peuser, Senior
Clark, Councilman - Allan V. Everard, Councilman - Vice .President of First American Bank - Hubert
Thomas R. Lewis, h+iayorofNorth Palm Beach, Thomas A. Watt, Councilman and Lawrence J. Robbins, Vil-
lage 141anager. Ernie Histed Photo
N. P. B. 'Sins $425,000 Bonds
Revenue bands to finance
425,000 worth of Muni-
cipal construction were
signed and delivered to
the First American Sank
of North Palm Beach at
noon Monday. the 301h.
Some $325,000 in bond
money and a federal Ii-
brary grant of $100,000
will pay for construction
of three projects,
Mayor Tom Lewis and
Village Clerk Dolores
Walker signed 325 bonds
in $1.0M denominations
and turned theta aver to
three bank officials- -
President. Roy Talmo,
Executive Vice President
William Kendrick and
Senior Vice President
Frank Peuser.
The bond issue will be
secured by revenues from
Florida Power & Light
Co, franchise taxes. Vil-
lage Manager Lawrence
J. Bobbins said current
income from that source
exceeds the amounts
which will be needed for
bond paymeltvs. `Fhe issue
will run for 19 years and
bear 5 1/8 per cent in-
terest.
In announcing that First
American Sauk had pur-
chased rhe entire band
i s s u e, Mayor Lewis
praised the work of the
council.
'Councilmen devoted
mach time, effort and
.study to determine first
how much moneywouldbe
needed for the new facil-
ities and then to deter-
mime the best method of
financing,' C he m a y o r
said.
"It also required con-
siderable time and effort
to obtain, the federal grant
from the Department of
H e a. I t l-, r duration and
Welfare."
Sand payments never
can become a lien against
property in the village,
the mayor said, and them
riever will be the need to
increase taxes to make
bond payments.
One project now is un-
der way -- twin additions
to the Village Hall, at an
approximate cost of $90,-
000. A new south wing will
include a t w o-bay fire
station and police com-
plex. The north wing will
have offices, aconference
Ic*mi and a c+ombination
council chambers a n d
courtroom. Construct -
tlon began in august.
Buis were received re-
cently for a two -story
public library building. to
replace facilities in the
old Country Club building.
The library will cost an
estimated $200,000 with
one -half of that .amount
coming from the federal
grant,
The third project is a
two - story community
canter Building to serve
all age groups. The esti-
mated cast. is $125,000.
Both t he community
center and library build-
ings will be built immed-
iately vest of the Village
Hail, Addition$ to the Vil-
lage Hall should be corn-
pleted in November
all construction sh"VNe
finished one ve l'later ..
LIBRARY - 1968
COURIER. October 31,1966
NORTH PALM BEACH GROUNDBRLAKING- Aground
breaking ceremony October 24th launched the con -
struc:cion of the new Village of North Palm Beach
Library. The library is tieing built with federal
and local funds with financing through the First
American Bastk of Forth Palm Beach. Taking hart
in the ceremony. were members of the 'Village Coun-
cil, Library Board, and officials of the Dank. Left
to right are; Prim Jahn `1`urnhull, President of Library
Society; Frank Peuser, Sr. 'mice President, First
American Bank of N P B; Mayor Tom Lewis; Mrs, H. L.
Gildan, President of Library Board; William Kendrick,
Executive 'dice President, First Amerir..an Bann; Coun-
cilman Allan Fverard, holding a certificate of merit .
he received for service as Civil Defense Director,
Councilman Herbert Watt; Councilman Dave. Clark;
Vice -Mayor Tom Bell; Mrs. John Atwater, Past
President of Library Society; Don McKerchar, Ar-
chitect; Mrs. Nancy Moore, Asst. Librariau; and [fan
Lassiter, Contractor.