72-06
RESOLUTION N0: 7 2 ~6
`ti'F~3REAS, it is the opinion ;of the City Conani.ssion'of the City of Atlantic
Beach, Florida, that Ordinance No. 15=71=4 providing for''General Obligation Sewer
a Bonds for the City , of Atlantic Beach ; is not fully ' comprekieils ive, and
~,
V~E"REAS, it is the opinion of the City Commission of the City of Atlantic
Beach, Florida, that Section 13 of said Ordinance No. 15=71-4 needs further
clarification in regards'„~to expenses incurred by the issuance of said Bonds,
and the handling of the monies received upon the sale of said Bonds:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY CC1ti~dISSION OF THE CITY OF ATLANTIC
BEACH, FIARIDA:
1. That, all expenses paid by the City of Atlantic Beach, Florida,
preceding the sale of the General Obligation Sewer Bands that
were necessary in the preparation thereof should be~a liability '
of a special account toibe~labelled "1971 General Obligation
Sewer Bond Construction Acoount"; as set forth by 'the above
mentioned Sectitan 13~, and' these funds 'shall be transferred from
this special acxount to 'the City's General Revenue Account.
Included for payment from' this account are such items as
ewes of engineering, legal, expenses, publications,
referendum andother miscellaneous e~esises.
2. Treat, reasonable professional fees far implemexiting the above,
and other accounting procedures, audits and management, should
be considered cast of construction and a liability of this
special account "1971 General Obligation Sewer 'Bond Construction-
Account:'
Adopted by the City Conanission of the City of Atlantic'Beach, Florida
on the '~14thday of February, A.D. 1972. ~~
(s~L) . A
Attest:
Air. e-le S . Grage
City Clerk