2001-073 WCI Assignment of Voting RepresentationRESOLUTION 73-2001
•
A RI3SOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PA1,M
BRACH, FLORIDA, ACCEPTING ASSIGNMENT FROM WCI COMMUNITIES, INC. OP
VOTING REPRESENTATION AND MEMBERSHIP ON THE GOVERNING BOARD
ESTABLISHED UNDER A DECLARATION OF TRUST DATED JANUARY 25, 2001, WHICH
1'KOVIDED FINANCING FOR ENFORCEMENT OF BOAT SPEED 7.ONE5 ON THE
1N'1'RACOASTAL AND CONNECTED INLAND WATERWAYS; THAT A COPY OF SUCI I
ASSIGNMENT IS ATTACHED AS EXHIBIT "A" AND MADE PART HEREOF; AND,
PROVIDING FOR AN EFFECTIVE DATE.
BI; IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA:
Section l . The Village Council of the Village of North Palm Beach, Florida, does hereby approve
and accept the Assignment attached as Exhibit "A" from WCI Communities, Inc. of voting
representation and membership on the governing board established under a Declaration of Trust
dated January 25, 2001, which provided financing for enforcement of boat speed zones on the
Intracoastal and connected inland waterways within the area between one-half mile north of Jupiter
lnlei to the north and one-half mile south of the Lake Worth Inlet to the south.
Section 2. This resolution shall take effect immediately upon its adoption.
I'ASSI;D AND ADOPTED THIS 13th DAY OF SEPTEMBER, 200].
(Village Seal)
• ATTEST: ~
VILLAGE CLERK
ASSIGNMENT
THIS ASSIGNMENT is made by WCI Communities, Inc., hereinafter referred to
as "WCI ", on this the day of , 2001.
WITNESSETH:
WHEREAS, WCI Communities, Inc., and Village of North Palm Beach, a
municipal corporation, as trustee, entered into a Declaration of Trust dated January 25,
2001, for the purposes of providing financing for enforcement of boat speed zones on
the intracoastal and connected inland waterways within the area between one -half mile
north of Jupiter Inlet to the north and one -half mile south of the Lake Worth Inlet to the
south; and
WHEREAS, WCI is one of three (3) voting members on a governing board
established under the terms of the above- referenced Declaration of Trust; and
WHEREAS, WCI has the absolute right in the Declaration of Trust to assign its
voting representation and membership on the governing board to another party of its
choice and is desirous of assigning such voting representation and membership to the
Village of North Palm Beach, a municipal corporation.
NOW, THEREFORE, in consideration of the premises and other good and
valuable considerations, WCI does hereby make the following Assignment, to -wit:
WCI does hereby assign, set over and transfer its voting
representation and membership on the governing board
established in the Declaration of Trust to the Village of North Palm
Beach, a municipal corporation.
2. This Assignment shall take effect upon execution of this
Assignment by WCI and passage of a Resolution by the Village of
North Palm Beach accepting voting representation and
membership on the governing board.
IN WITNESS WHEREOF, WCI has hereunto set its hand and seal on the day
and year first above written.
Signed, seated and delivered in
the presence of:
lvlllagelassignment
WCI COMMUNITIES, INC.
By:
( SEAL)
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