HomeMy WebLinkAboutResolution_04-67_02/20/1968 RESOLUTION NO. 4 -67
• A RESOLUTION OF THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, FLORIDA, DESIGNATING
A DEPOSITORY FOR CERTAIN FUNDS CREATED BY
ORDINANCE NO. 138 AUTHORIZING THE ISSUANCE
OF NOT EXCEEDING $1,700,000 WATER REVENUE
CERTIFICATES OF SAID VILLAGE
Adopted this 20th day of February , 1968
WHEREAS, the Village of Tequesta, Florida, on November 21,
1967 adopted Ordinance No. 138 authorizing the issuance of not exceeding
$1,700,000 Water Revenue Certificates of said Village to be dated July 1,
1967 maturing serially thereafter; and
WHEREAS, said Ordinance No. 138 created, for the benefit of the
holders of said Water Revenue Certificates, the following Funds:
1. Sinking Fund
2. Reserve Account
3. Renewal and Replacement Fund
4. Certificate Redemption Fund
• 5. Capital Improvement Reserve Fund
and such funds are to be maintained in accordance with the terms and
conditions set forth in said Ordinance No. 138; and
WHEREAS, it is considered advisable and in the best interests of
the Village Council and the holder of said 'dater Revenue Certificates that
the Bank of Palm Beach And Trust Company be named as depository for the
aforesaid Funds:
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, FLORIDA:
SECTION 1. That the Bank of Palm Beach And Trust Company, Palm
Beach, Florida is hereby named depository for the separate Funds of the
Village of Tequesta, Florida, identified as follows:
1. Sinking Fund
VILLAGE OF TE�UESTA 2. Reserve Account
WATER DEPARTMENT: 3. Renewal and Replacement Fund
4. Certificate Redemption Fund
5. Capital Improvement Reserve Fund
SECTION 2. That the Village Clerk is hereby authorized and
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instructed to notify said Bank of Palm Beach And Trust Company of such
designation and to take steps and provide such information necessary
to implement such banking accounts.
SECTION 3. That this Resolution .,s - 1 , to ffect immediately.
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, Mayor and Councilman
Councilman
/ 0ouncilman
Councilman
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Councilman
ATTEST: AS AND CONSTITUTING THE VILLAGE
COUNCIL OF THE VILLAGE OF TE'UESTA,
FLORIDA
4 i , 'Ilage Clerk
APPROVED:
Attorney for Village Council
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