1976-68 Authorizing the Issuance of General Obligation BondsRESOLUTION N0. 68-76
A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT
EXCEEDING $1,600,000 GENERAL OBLIGATION BONDS
OF T{{E VILLAGF. OF NORTH PALM BEACH, FLORIDA
TO FINANCE THE COST OF THE ACQUISITION OF LAND
FOR RECREATIONAL PURPOSES AND THE CONSTRUCTION
AND ACQUISITION OF A RECREATION BUILDING AND
RECREATIONAL FACILITIES IN THE VILLAGF.; PROVID-
ING FOR AND CALLING A BOND ELECTION OF THE
QUALIFIF,D ELECTORS RESIDING IN THE VILLAGE TO
BE HELD ON NOVEMBER 2, 1976 ON THE QUESTION
OF T}IE ISSUANCE OF SUCH GENERAL OBLIGATION BONDS;
AND PROVIDING AN EFFECTIVE DATE.
RF, IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM
REACH, FLORIDA:
SECTION 1. AUTHORITY OF THIS RESOLUTION. This resolution
is adopted pursuant to Chapter 166, Part II, Florida Statutes,
C}~apter 100, Florida Statutes, and other applicable provisions of
law.
SECTION 2. AUTHORIZATION OF BONDS. Subject and pursuant
to the provisions hereof, general obligation bonds of the Village of
North Palm Beach, Florida (hereinafter called "Village"), are
authorized to be issued in the aggregate principal amount of not
exceeding One Million Six Hundred Thousand Dollars ($1,600,000) to
finance the cost of the acquisition of land for recreational purposes
and the construction and acquisition of a recreation building and
recreational facilities consisting of, but not limited to, a community
center with arts and crafts rooms, ballet and gymnastics rooms, lighted
ballfields, unlighted ballfields, landscaping, irrigation, parking
facilities and other recreational improvements, in accordance with
plans and specification therefor, prepared and on file or to be on file
in the office of the Village Clerk. Such general obligation bonds
shall. be payable from ad valorem taxes levied without limit as to
rate o r amount on all taxable property in the Village. None of such
' bonds shall be issued for a longer term than thirty (30) years from
t}ieir date of issuance and such bonds shall bear interest at such
rate or rates not exceeding the maximum rate permitted by law at the
time of the sale of the bonds,•the actual rate to be determined upon
sale of the bonds to the bidder whose bid produces the lowest net
interest cost to the Village for the bonds.
SECTION 3. BOND ELECTION. A bond election of the qualified
electors residing in the Village is hereby called to be held on November
2, 1976 to determine whether or not the issuance of such general
obligation bonds in an aggregate amount of not exceeding One Million
' Six }[undred Thousand Dollars ($1,600,000) shall be approved by such
qualified electors to finance the cost of the acquisition of land for
recreational purposes and the construction and acquisition of a
recreation building and recreational facilities, including other
purposes necessary, appurtenant or incidental thereto.
All qualified electors residing in the Village shall be
entitled and permitted to vote in such bond election. The places of
voting and the inspectors and clerks for the bond election shall be
t}te same as those places designated and those persons appointed for
the general election to be held in the Village on the same date. The
polls will be open at the voting places from seven (7) o'clock A.M.
until seven (7) o'clock P.M. on the same day.
' SECTION 4. OFFICIAL BALLOT. Voting machines shall be used
at such bond election and the form of ballots to be used shall be
in substantially the following form:
OFFICIAL BALLOT
VILLAGE OF NORTH PALM BEACH, FLORIDA
BOND F,LF,CTION - NOVEMBER 2, 1976
Shall the Village of North Palm Beach, Florida, issue
not exceeding $1,600,000 principal amount of general
obligation bonds, bearing interest at not exceeding
the maximum legal rate of interest at the time of the
sale of the bonds, maturing not later than thirty (30)
years from the date of issuance thereof, payable from
ad valorem taxes levied on all taxable property in the
Village without limit as to rate or amount, for the
purpose of financing the cost of the acquisition of land
for recreational purposes and the construction and
acquisition of a recreation building and recreational
facilities, as more specifically described and provided
in Resolution No. 68-76 of the Village, adopted September
9, 1976?
' lnstructions to Voters: Indicate by pulling down lever over
"FOR BONDS" if you favor the issuance
of said bonds.
Indicate by pulling down lever over
"AGAINST BONDS" if you do not favor
the issuance of said bonds.
SF,CTION 5. ABSENTEE VOTING. Paper ballots shall be used
at such election for absentee voting. The form of ballot to be
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used in the election for absentee voters shall be in substantially
the form provided in Section 4. above.
SF,CTION 6. PRINTING OF BALLOTS. The Village Clerk is
authorized and directed to request the Supervisor of Elections for
' Palm Reach County to have printed on plain white paper a sufficient
number of the aforesaid ballots for use of absentee electors entitled
to cast such ballots in such bond election, and also to have printed
sample ballots and deliver them to the Inspectors and Clerks on or
before the date and time for the opening of the polls for such bond
election for the voting places at which voting machines are to be
used; and further is authorized and directed to request said Supervisor
of Elections to have printed on plain white paper and delivered in
accordance with law the official ballots for use in such voting
machines and to make all appropriate arrangements for the conducting
of such bond election.
SECTION 7. ELECTION PROCEDURE. The bond election shall be
held and conducted in the manner prescribed by general law for holding
bond elections, except as herein provided. The Inspectors and Clerks
at each polling place shall canvass the vote and make due returns of
same without delay to the Village Clerk. Such returns shall show the
number of qualified electors who voted at such bond election on said
proposition and the number of votes cast respectively for 8nd against
approval of such proposition. The returns of the Inspectors and
Clerks shall. as soon as practicable be canvassed by the Village Council
serving as the Canvassing Board of the Village, which shall declare
and certify the results of such bond election. The certificate of
declaration of the results shall be recorded in the minutes of the
Village Council.
SECTION 8. ELECTION RESULTS. If a majority of the votes
' cast at such election in respect to said proposition or bonds shall
be "FOR BONDS", such proposition or bonds shall be approved and
then the bonds shall be issued as hereafter provided by the Village.
SECT70N 9. NOTICE OF BOND ELECTION. This resolution shall
be published in full by the Village Clerk as part of the notice of
such bond election, together with an appropriate caption in such
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form as she shall determine, in a newspaper published in Palm Beach
County and of general circulation in the Village once each week for
four consecutive weeks, the first publication to be not less than
thirty (30) days prior to the date of such bond election.
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SECTION 10. SEVERABILITY. In the event that any word,
phrase, clause, sentence or paragraph hereof shall be held invalid
by any court of competent jurisdiction, such holding shall not affect
any other word, clause, phrase, sentence or paragraph hereof.
SF,CTION 11. REPEALING CLAUSE. All resolutions in conflict
or inconsistent herewith hereby are repealed, insofar as there is
coni'l.ict or inconsistency.
SECT70N 12. EFFECTIVE DATE. This resolution shall take
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effect immediately upon passage.
PASSED AND ADOPTEll TIiIS 9 DAY OF SEPTEMBER, 1976.
/s/ M.C. Love, Jr.
MAYOR
ATTEST:
/s/ llolores R. Walker
Village Clerk
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NOTICE OF BOND ELECTION IN THE VILLAGE OF
NORT}{ PALM BEACH, FLORIDA ON NOVEMBER 2,
1976.
NOTICE IS }{F,REBY GIVEN THAT A BOND ELECTION will be held
on the 2nd day of November, 1976, in the Village of North Palm Beach,
' 1'lorida, for the purpose of determining whether or not bonds of the
Village shall be issued in an aggregate principal amount of not
exceeding $1,600,000, bearing interest at such rate or rates not
exceeding the maximum legal rate at the time of the sale thereof,
maturing serially in annual installments over a period not to exceed
thirty (30) years from the date of the bonds, for the purpose of
financing the cost of the acquisition of land for recreational purposes
and the construction and acquisition of a recreation building and
recreational facilities, all as more specifically described and
provided in the resolution of the Village Council adopted on the
9th day of September, 1976.
The places of voting in the bond election shall be those
places of voting in the general election to be held on the same
date. The polls will be open at the voting places on the date of
said bond election from 7:00 A.M, until 7:00 P.M, on the same day,
al.l as provided in said resolution adopted on September 9, 1976,
and published in full below as part of this Notice.
All qualified electors residing within the Village shall
be entitled, qualified and permitted to vote at such election.
VILLAGE OF NORTH PALM BEACH, FLORIllA
/s/ M,C, Love, Jr.
Mayor
1 A7'7'F.ST:
/s/ llolores R. Walker
Village Clerk