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Home My Public Portal About09/27/1978 * Proposed Budget & Millage MeetingGI danda0 'Nad Oi:S pouanofpe SuTaaaN •paadope sum uoTiniosag sTgl a;aoaga aodgN aoTA dq papuooas pug uosTgyag aauoTssTmmoo Aq uopom uodn auoTssTmmoo aqj of pgaa sum 'saanuTm asagl ;o laud se pagog »e osig ST goTgm '6-81 'ON uoTjniosag •paadope sum uopniosag saga uosT43ag aauoTssTmmoo dq papuooas pug 8410aul aoSaN aoTA dq uopom u0 asalnuTm asaga go laud a samooeq pug pagogaae sT uopniosaa sTgy auoTssTuusoo aqa oa peaa uagi sum g -gL eoN uoTaniosag auoTssnosTp ao; uado sum SuTaaaN aqy agoog joAvK Aq axed S le aapao oz paTTgo sets agwITTm pug 4a8pnq pasodoad aq4 uo SuTaaaN p98TIlOAPV TaToodS aqy egosaTPTaaa eaaz 'aN '•xaaTO uyoy kindea 'uuAmq eaggaeg :as8gueN unoy 'uudn0 'g umTTTTM :SuTpual4v osTV UHNOISSINK03 SSNSMU OR e3 IIHNOISSINxOO MINM 'I30f :INSSBV liaNOISSIxx00 NOSI11HU 'S T3'IONII 'dOxVN 30In aixoaVT OS NVor NO.CVN *Ur 'HOox '3 xVITIIM :yNRSHda SL61 IIZ aagme3 aS asya ONI SOVIIIN QNV 03y3000g aHS0d0Ha 3Hy Wa ONIIHRK NOISSIPMO RESOLUTION NO. 78-8 F4110 114 Wis) F�lj V ' QW9 V • 61 irm-PAWN V W � M r• ACK-FA 140M 114 O.All I WQIMM W ""oitj DON a! D • 1 • BE IT RESOLVED By THE TOM COUNCIL OF THE TOM OF GULFSTREAM, Section 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to thd provisions of the Charter of the Town of Gulf Stream and other applicable provisions of law. Section 2. FINDINGS. It is hereby found, determined and declared as follows, that: a. The Town of Gulf Stream, (the "Issuer") is obligated to VLLX:;� j GS, extend and improve i8�Wtel?*§t� MIA fWraV--WtVrcj1ines andME0. certain allief b Ai though it'-N'160rl Atd&that,the cpsb 4G( Wi. wfll'be� fin&i66d 6h a bf wa�Ek ktveli6e'%biffi'Ahlffi TrKq,1WpurstuMt tQ, tWff'" of Clawoul W*hor1tWt4 #r 45 •.G& cE jrj&ARj 1,.j,h immediate 1&cdMIodQt&:d:b%We" pl@W andI_,jol. schedules 11'%" P_ le or 961_�, c ffj& I&Wt& 44Z6s&Wpjj-T jdwsEvc .cphqrt;,,tPW ,PP* in the amount Wt CoTW,tf t&LEffitdiataly- weqei,!w, anticipation 0'f` 'T Ah�_�dcepe :df'q&�pr6oeeds,-of -such long -term financing, and it is necessary to pledge thg taxing power of the Issuer for the fiscal year 1978-79 and other revenue sources described herein as sec- urity for said Note. Section 3. RESOLUTION TO CONSTITUTE CONTRACT. In considera- tion of the acceptance of the Note authorized to be issued hereunder by the Barnett Bank of Delray Beach, the holder, this Resolution shall be deemed r to . f fie ai : 'sti Cbh �-'r--Uta�'a'contractbetweenitlie-Xssi hof&l. 4L diW AAM:�?Iij�dNqR&igffis by the Issuer ;Fh� &_P'&9qW jar4Lei '."S"T1 ' 'T of 'tii(Y leo Aoi&xt 8`6&h Note. For the � ose%-Plffi6i4ijJ4 ffi&E&st' of.,-01b P=Ject�t� 3# �,author- - lz4a''to befs'sd&"'a TA A�'i'pf&tich(Nbth offrthq 19spm-, TL- �U }Fate n&'d&galini f Or& -H6n&ed,M=6y Piv( ,Xhqv • pap ,ive Hundred SIR&en Ad 013t,916�16Kk,'M)e 'Note -sWl' _bE4 dated as of iYA%te of dki%ry, baf'hbt+earlior than Magi 07.9t,)#iall ,,,be payable 15che�.' '&kVbe1i: W11&1Uf lawful money of the United Sta4s of Mit&W-61i M�k --MM '9WJ_,L bea:r.-dntem5-,*t date ML MA ia J7 f-F date payable at maturity. The Note shall be issued in the amount of $135,516.16, shall bear interest at such rate or rates, not exceeding the maximum rate permitted by law, as is hereinafter specified and shall be payable with respect to both principal and interest at the Barnett Bank of Delray Beach. Section 5. SALE OF NOTE. The Note is hereby sold and awarded to Barnett Bank of Delray Beach, at the price of $135,516.16 and shall bear interest at the rate of 4.51% per annum. Section 6. EXECUTION OF NOTES. The Notes shall be executed in the name of the Issuer by the Mayor and countersigned and attested by the Town Clerk and the corporate seal of the Issuer shall be affixed thereto. The Notes may be signed and sealed on behalf of the Issuer by such person who at the actual time of the execution of such Notes shall hold the proper office in the Issuer. Section 7. FORM OF NOTE. The text of the Note shall be in substantially the following form and tenor, with such variations, omi- ssions and insertions as may be necessary, desirable and authorized or permitted by this Resolution or any subsequent resolution adopted prior to the issuance thereof: Section B. PLEDGE OF FONDS. For the prompt payment of the principal of and interest on the Note, the ad valorem taxing power of the Issuer for the fiscal year 1978 -79, to be levied and assessed, at an annual rate not to exceed ten (10) mills on the dollar of assessed value, is irrevocably pledged. The principal of and interest on the Note are additionally secured by and payable from a lien on and pledge of the proceeds of the franchise taxes and the utilities services taxes levied and collected in the Town. Section 9. LEVY OF AD VALOREM TAX; COVENANT TO BUDGET EXCISE TAXES. (a) There shall be levied and collected a tax during the fiscal year 1978 -79, to be levied and assessed at an annual rate not to exceed ten (10) mills on the dollar of assessed value, on all prop- erty subject to taxation by the Town, to the extend necessary to pay the principal of and interest on such Notes as the same shall become due, after deducting therefrom any other funds which may be available for such principal and interest payments and which may be so applied. (b) The Town, in preparing, approving and adopting its budget controlling or providing for the expenditure of its funds for the fiscal year 1978 -79. will appropriate, allot and approve, from the proceeds of the Excise Taxes, amounts sufficient, as necessary, to Pay the principal of and interest on the Notes as the same shall become due, after deducting therefrom any other funds which nay be available for such payments and which may be so applied. I• •.�M01�1� Section 10. NOTEHOLDERS NOT AFFECTED BY USE OF NOTE The holders of the Note issued hereunder shall have no responsibility for the use of the proceeds of said Note, and the use of such Note proceeds by the Town shall in no way affect the rights of such Noteholder. Section 11. MODIFICATION OR AN1T. No material modi- fication or amendment of this Resolution or of any resolution amenda- tory hereof or supplemental hereto, may be made without the consent in writing of the noteholder. Section 12. SEVERABILITY OF INVALID PROVISION. If any one or more of the covenants, agreements or provisions of this Resolution should be held contrary to any express provision of law or contrary to the policy of express law, though not expressly prohibited, or against public policy, or shall for any reason whatsoever be held invalid then such covenants, agreements or provisions shall be null and void and shall be deemed separate from the remaining covenants, agreements or provisions, and in no way affect the'validity of all the other provi- sions of this Resolution or of the Note issued thereunder. Section 13. PRIOR RESOLUPIONS REPEALED. All prior resolu- tions inconsistent with this Resolution, are repealed. Section 14. EFFECTIVE DATE. This Resolution shall take effect immediately upon its adoption. PASSED AND ADOPTED ON [ READING THIS 13 DAY OF OCTOBER , A.D., 1978 i s � 14 Clerk Town Clerk RESOLUTION NO. 78 -8 RESOLUTION OF THE TOWN COMMISSION OF THE TOWN OF GUT,F STREA11, PALM BEACH COUNTY, FLORIDA, ESTABLISHING A FOUR AND FORTY EIGHT ONE HUNDREDTHS (4.48) MILL TAX LEVY AGAINST THE ASSESSED VALUATIONS OF ALL TAXABLE REAL AND PERSONAL PROPERTIES WITHIN THE CORPORATE LIMITS OF SAID TOWN OF GULF STREAM, FOR THE CALENDAR YEAR OF 1978. NOW, BE IT RESOLVED, that all real and personal property valuations of properties lying within the corporate limits of the Town of Gulf Stream, Florida, subject to ad- valorem taxation, as shown on the Palm Beach County Property Assessment Poll for the calendar year 1978, shall be subject to a tax levy of four and forty eight one hundredths (4.48) mill levy against all taxable properties within the Town of Gulf Stream, Florida,'for the calendar year 1978, PASSED AND ADOPTED ON THIS .?W4 day of di�o�frn�rycR 1978. MAYOR V210E YYO COMMISSIONER COMMISSIONER COMMISSIONER ATTEST: Deputy Town le c RESOLUTION NO.78_9 A RESOLUTION OF THE TOWN COMMISSION OF THE TOWN OF GULF STREAM, PALM BEACH COUNTY, FLORIDA, PROVIDING FOR ADOPTION OF A BUDGET FOR THE TOWN'S FISCAL YEAR COMMENCING OCTOBERI, 1978, AND ENDING ON SEPTEMBER 30, 1979, AND AUTHORIZING A PRO RATA SHARE OF GENERAL FUND EXPENSES TO BE BORNE BY THE WATER FUND FOR SAID FISCAL YEAR TERMINATION OF SEPTEMBER 30, 1979. BE IT RESOLVED BY THE TOWN COMMISSION OF THE TOWN OF GULF STREAM, FLORIDA, That: (1) The BUDGET for the Town of Gulf Stream, for the Fiscal Year commencing October 1, 1978 and ending on September 30, 1979, detailed COPY of which, attached hereto and forming a part hereof, reflecting, in part, total estimated General Fund and Water Fund expenses for said Fiscal Year in the amounts of $284,797.00 and $103,000.00 respectively, be hereby approved and adopted, disbursements for which to be made ONLY under the categories of anticipated expenses in the identified classifications of expenditures as set forth in said Budget and for no other purposes than those for which they are appropriated unless so authorized for Act of the Commission of the Town of Gulf Stream. (2) The sums of monies set forth Under _.- Revenue in the attached Budget by, and hereby are, approved for the purpose of providing sufficient and necessary funds for operation and maintenance of the Town during said Fiscal Year commencing October 1, 1978. BE IT FURTHER RESOLVED that, in lieu of there being any ?later Department personnel, the administration, functioning within the General Fund, performs all necessary services relating to: (a) Determining Water consumption of individual properties by reading meters. (b) Billing of Water Charges; (c) Collection of said Charges; and (d) Maintaining proper accounting of all funds accumulating to said [dater Fund. It is, therefore, determined that the following amounts shall be paid by the Water Fund to the General Fund for said Fiscal Year commencing October 1, 1978 and ending on September 30, 1979. Pro rata share of Administration Expense $13,225.00 Pro rata share of Police Department Expense 2,&00.00 PASSED AND ADOPTED on this o1%4L. day of September, 1978. ATTEST: Deputy Town ler: 1� VICE MYOR COMMISSIONER COMMISSIONER COMMISSIONER