HomeMy WebLinkAboutResolution_15-82/83_09/27/1983 RESOLUTION NO: 15 -82/83
RESOLUTION AMENDING RESOLUTION NO. 13- 77/78,
ADOPTED ON JULY 25, 1978, ENTITLED: "A RESO-
LUTION PROVIDING FOR THE REDEMPTION OF CER-
TAIN OF THE OUTSTANDING WATER REVENUE CERTI-
FICATES, DATED JULY 1, 1967, OF THE VILLAGE
OF TEQUESTA, FLORIDA, ON CERTAIN REDEMPTION
DATES OF THE RESPECTVE CERTIFICATES."
WHEREAS, in connection with refunding the Village's
outstanding Water Revenue Certificates, dated July 1, 1967 (the
"Refunded Bonds "), the Village Council did, on July 25, 1978,
adopt Resolution No. 13 -77/78 (the "Resolution ") referred to by
title in the title of this resolution; and
WHEREAS, the schedule of Refunded Bonds required to be
redeemed as set forth in Subsection 1B of the Resolution inadver-
tently omitted Water Revenue Certificates, dated July 1, 1967,
Nos. 1386 to 1700, inclusive, to be redeemed on January 1, 1983;
and
WHEREAS, it is now necessary to amend said Section 1B of
said Resolution to provide for the total of said Refunded Bonds
to be called for redemption on January 1, 1984 by the Escrow
Holder under the Escrow Deposit Agreement for said Refunded Bonds,
to be $338,000 being Certificates Nos. 1363 -1700, inclusive,
instead of the $23,000 Certificates Nos. 1363 -1385, inclusive,
now, therefore,
BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA:
SECTION 1. That Subsection B of Section 1 of Resolution
No. 13- 77/78, adopted on July 25, 1978, be, and the same is hereby
amended to read as follows:
"SECTION 1. * * *
B. Certain of the Refunded Bonds are required to
be redeemed prior to their maturity, in inverse numerical
order, at par and accrued interest plus premiums equal
to a percentage of the par value thereof, on January 1
of each year, in accordance with the following schedule:
Redemption
Premium
January 1 of Principal Certificate (as a percentage
Year Amount Nos. (inclusive) of par value
1984 $338,000 1363 -1700 3 1/4%
1985 23,000 1340 -1362 3%
1986 23,000 1317 -1339 2 3/4%
1987 23,000 1294 -1316 2 1/2$
1988 23,000 1271 -1293 2 1/4%
1989 23,000 1248 -1270 2%
1990 23,000 1225 -1247 1 3/4%
1991 23,000 1202 -1224 1 1/2%
1992 23,000 1179 -1201 1 1/4%
1993 23,000 1156 -1178 1%
1994 23,000 1133 -1155 3/4 of 1%
1995 23,000 1110 -1132 1/2 of 1%
1996 23,000 1087 -1109 1/4 of 1%
SECTION 2. The remaining provisions of said Resolution
shall remain in full force and effect as originally adopted and are
hereby ratified and confirmed.
SECTION 3. This amendatory resolution shall take effect
immediately upon its adoption.
THE FOREGOING RESOLUTION was offered by Councilmember
Thnmas .T_ Beddow who moved its adoption. The Resolution was
seconded by Councilmember Thomas ,T. Littl and upon being put
to a vote, the vote was as follows:
FOR ADOPTION AGAINST ADOPTION
Thnma,c .T_ Rpdtinw
T.PP Mr Rrnwn
Thnmac .T_ T.ittla
C.grltnn D_ StnddArd
William E.- _mar
The Mayor thereupon declared the Resolution duly passed and
adopted this 27 day of September, A.D., 1983.
MAYOR OF TEQUESTA
CARLTON D. STODDARD
ATTEST':
CYRES COLBERT, VILLAGE CLERK
i
JOHNSTON, SASSER, RANDOLPH & WEAVER
ATTORNEYS AND COUNSELORS AT LAW
310 OKEECHOBEE BOULEVARD -
WEST PALM BEACH, FLORIDA 33402 HENRY F. LILIENTHAL
1902-1982
HARRY A. JOHNSTON II P.O. BOX M - OF COUNSEL
.DONALD J. SASSER
JOHN C. RANDOLPH - -
HARRY ALLISON JOHNSTON
W ADAMS WEAVER
MAUREEN A.HACKETT (305) 6SS-0108
October 11, 1983
Mr. John Kelly
Freeman, Richardson, Watson & Kelly, P.A.
1200 Barnett Bank Building
Jacksonville, Florida 32202
RE: Resolution No. 15 -82/83
Dear John:
The enclosed Resolution was passed with the condition set forth
in the attached letter flom Cyrese Colbert. Please advise us in
_writing as to the matter set forth therein. Once we have received
the assurance requested., the condition for Resolution No. 15 -82/83
will have been met.
Thank you.
Very trul ours,
f
John C. Randolph
JCR:dm
CC; Robert Harp, Village Manager
Enclosure
i
OCT 141983P.
VIL.GE it * •r - - - ti
L 3
Cn
VILLAGE
357 TEgUESTA DRIVE - - - - --
TEQUESTA, FLORIDA
TELEPHONE MAILING ADDRESS
AAKA COOK 30S P. D. BOX 3273
746 -7457 October 4, 1983 TEgUESTA. FLORIDA 33458
v
Mr. John C. Randolph
Johnston, Sasser, Randolph & Weaver
P.O. Box "M"
West Palm Beach, Florida 33402
' Dear Skip:
Re: Certified Copy of Resolution 15 -82/83
Verbatim Motion - Councilmember Beddow
Enclosed per your request is a Certified Copy of Resolution
No. 15- 82/83, a resolution providing for the redemption of certain
Water Revenue Certificates, dated July 1, 1967.
The following is the verbatim motion made by Councilmember
Beddow, pertaining to the Resolution, made at the September 27, 1983
Council Meeting:
Beddow moved, "that we approve the Resolution subject
to assurances.from Bond Counsel that we are not increasing
the payments required by the Village, in the escrow and
that by appropriate Resolution we are not creating a
situation where we come to the end of the road on the
redemption of.the last of the debentures you're not
$388,000. or some other amount short ", seconded by _
Little. The motion was passed and adopted.
Yours very truly,
VILLAGE OF TEQUESTA
4 Cyse Colbert
Village Clerk
Encl.
e ,
t
rw
` 1200 BARNETT BANK BUILDING
JUDSON FREEMAN
GILES J. PAT7ERSON
" RAY W. RICHARDSO N�JR, JACKSONVILLE FLORIDA 32202 - u8e5 -19631
JOHN F. KELLY - (904) 353-1264 FRANK L.WATSON
A.GRAHAM ALLEN OF COUNSEL
JOHN L.M.WILL1AMS,111 TELECOPIER NO'
JUDSON FREEMAN,JR, (904)356.2986
ROBERT 0. FREEMAN
WILLIAM D. BRINTON November 2, 1983
PETER L.DAME
RICHARD G.KISS
SIDNEY S. SIMMONS
John C. Randolph, Esquire
310 Okeechobee Blvd.
West Palm Beach, Fla. 33402
Re: Certified Copy of Resolution 15 -82/83
Verbatim Motion - Councilman Beddow
• Dear Skip:
I am in receipt of a photocopy of the above mentioned
resolution and a photocopy of Cyrese Colbert's letter to you of
October 4, 1983 with regard to Councilman.Beddow's verbatim
motion.
I wish to assure both the Council of the Village of
Tequesta and you, as Village Attorney, that the Village will not
be required to increase the payments into the escrow. Further,
by the adoption of Resolution 15- 82/83, the Council is not
creating a situation where there will be a shortage at the end of
the road. The moneys and investments in the escrow will be
sufficient.
I will now furnish the escrow holder with a copy of
Resolution 15 -82/83 and the first of the notices of Redemption
for the Water Revenue Certificates will be published prior to
December 1st.
Best personal regards.
Sincerely, s
o F. Kelly 7 f 9 83 b
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cc: Cyrese Colbert l %