HomeMy WebLinkAboutResolution_09-79/80_03/10/1980 RESOLUTION NO. 9 -79/8
RESOLUTION AMENDING A RESOLUTION
ENTITLED: "A RESOLUTION OF THE
VILLAGE COUNCIL OF THE VILLAGE
OF TEQUESTA, FLORIDA, PROVIDING
FOR THE ACQUISITION AND CONSTRUC-
TION OF DRAINAGE AND STREET IMPROVE-
IN SAID VILLAGE; AUTHORIZING
THE ISSUANCE OF NOT EXCEEDING
$910,000 IMPROVEMENT REVENUE BONDS,
SERIES 1979, TO PAY THE COSTS THEREOF;
PROVIDING FOR THE RIGHTS OF THE
HOLDERS OF SUCH BONDS; PROVIDING FOR
THE PAYMENT THEREOF; MAKING CERTAIN
OTHER COVENANTS AND AGREEMENTS IN
CONNECTION WITH THE ISSUANCE OF
SUCH BONDS; AND PROVIDING AN EFFECTIVE
DATE," HERETOFORE ADOPTED.
WHEREAS, the Village of Tequesta has heretofore, on
the 24th day of July, 1979, duly adopted Resolution No. 10 -78/79
authorizing the construction of drainage and street improvements
and providing for the issuance of not exceeding'$910,000 Improve-
ment Revenue Bonds, Series 1979 (the "Bonds "), to pay the cost
of such improvements; and
WHEREAS, the Village deems it necessary and in the
public interest to amend said Resolution in certain respects;
now, therefore,
BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE
OF TEQUESTA, FLORIDA, AS FOLLOWS:
Section 1 . Section 2N of Resolution No. 10- 78/79,
adopted on July 24, 1979, and referred to by title in the title
above (hereinafter called the "Resolution:), be and the same is
hereby amended to read as follows:
"Section 1.02 Definitions.
N. "Authorized Investments" shall
mean any of the following, if and to the
extent that the same are legal under the
laws of Florida for the investment of the
proceeds of the obligations and the Pledged
Funds: (1) direct general obligations of,
or obligations the payment of the principal
of and interest on which are unconditionally
guaranteed by, the United States of America,
or a fund or a unit investment trust compri-
sing a composite of such obligations; (2)
savings accounts, deposits or time certifi-
cates of deposit in any bank, trust
company or savings and loan associa-
tion having a combined capital and
surplus of not less than $2,000,000,
provided such accounts, deposits or
certificates are either (a) collaterally
secured by securities which are described
under clause (1) of this definition for
the investment of monies, or collaterally
secured in accordance with the Laws of
the State of Florida, either of which
must have a market value at least equal
to the amount so deposited or; (b) such
accounts or deposits shall be insured by
an agency of the United States Government."
Section 2 . All the remaining provisions of the
Resolution shall remain in full force and effect and are hereby
ratified and confirmed.
Section 3 . This amendatory resolution shall take
effect immediately upon its passage.
THE FOREGOING RESOLUTION was offered by Council -
member W. Harvey Mapes , who moved its adoption. The
Resolution was seconded by Councilmember Joseph D. Yoder
and upon being put to a vote, the vote was as follows:
FOR ADOPTION AGAINST ADOPTION
Howard F. Brown
Leslie A. Cook
W. Harvey Ma as
Joseph D. Yoder
The Mayor thereupon declared the Resolution duly
passed and adopted this 10 day of March
A.D., 1980.
MAYOR OF TEQUESTA
ATTEST:
V,; l 1age Clerk