1976-49 Authorizing the Acquisition of Recreational Equipment for the Golf CourseRESOLUTION N0. 49-76
A RESOLUTION AMENDING A RESOLUTION ENTITLED: "A RESOLUTION
AUTHORIZING THE ACQUISITION OF RECREATIONAL EQUIPMENT FOR THE GOLF COURSE
OF T}{E VILLAGE OF NORTH PALM BEACH, FLORIDA; PROVIDING FOR THE ISSUANCE OF
NOT EXCEEDING $210,000 IMPROVEMENT REVENUE BONDS, SERIES 1975 OF SUCH
' VILLAGE TO PAY THE COST OF SUCH PROJECT; PROVIDING FOR THE RIGHTS OF THE
}FOLDERS OF SUCH BONDS; PROVIDING FOR THE PAYMENT THEREOF; AND MAKING CERTAIN
OTHER COVENANTS AND AGREEMENTS IN CONNECTION WITH THE ISSUANCE OF SUCH
BONDS," HERETOFORE ADOPTED.
BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH
PALM BEACH, FLORIDA:
Section 1. That Section 11 of the resolution entitled:
"A RESOLUTION AUTHORIZING THE ACQUISITION OF RECREATIONAL EQUIPMENT
FOR THE GOLF COURSE OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA;
PROVIDING FOR T}fE ISSUANCE OF NOT EXCEEDING $210,000 IMPROVEMENT REVENUE
BONDS, SERIES 1975 OF SUCH VILLAGE TO PAY THE COST OF SUCH PROJECT;
' PROVIDING FOR THE RIGHTS OF THE HOLDERS OF SUCH BONDS; PROVIDING FOR THE
PAYMENT THEREOF; AND MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS IN
CONNECTION WITH THE ISSUANCE OF SUCH BONDS," heretofore adopted on the
25th of September, 1975, be and the same is hereby amended to read as
follows:
"Section 11. PROVISIONS FOR REDEMPTION. The obligations may
be redeemable prior to their stated dates of maturity, at the option of
the issuer, in whole or in part, but in inverse numerical order if less
than all, on any interest payment date, at the price of par and accrued
interest to the date of redemption plus a premium of three per centum
(3%) of the par value thereof; provided that written notice of such prior
redemption shall be given as follows:
Notice of such redemption (i) shall be published at~least
once at least thirty (30) days prior to the redemption date in a financial
journal published in the Borough of Manhattan, City and State of New York,
(ii) shall be filed with the paying agents, and (iii) shall be mailed,
postage prepaid, to all registered owners of obligations to be redeemed
at their addresses as they appear on the registration books hereinabove
provided for. Interest shall cease to accrue on any obligation duly called
for prior redemption on the redemption date, if payment thereof ]ias
been duly provided."
Section 2. That Section 12 of the resolution referred to in
Section 1 hereof be and the same is hereby amended to conform to the
' amendment contained in Section 1.
Section 3. This resolution shall take effect immediately
upon its passage pursuant to law.
PASSED AND ADOPTED THIS 24 DAY OF JUNE, 1976.
/s/ Mervin H. McInt re
VICE MAYOR
ATTEST:
/s/ Dolores R. Walker
Village Clerk
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