1935-09 Eagle Bay Drainage DistrictR -E -S&O -L -U -T -I -,O -N
WHEREAS, the City of Okeedhobees Florida, by Resolution, entered into
an Agreement with Trustees of the Eagle Bay Sub -Drainage District on the 31st day
of October, A. D. 1934 iberein,it was agreed that the'said City of Okeechobee would
sell twOnty-five bonds of the Eagle Bay Sub -Drainage District to Reconstruction
Finance Corporation, its agents, or to said Trustees of sald Eagle Bay Sub -Drainage
District for the sum of 5% flat, and
'WHEREAS, said option has not been
Drainage District are desirous of obtaining
05,000 shall sell their bonds for the sum of 5�6
exercised and Trustees of Eagle Bay Sub -
a renewal of said opt&on, and
X-Laz*
BE IT FURTHER R ' ESbLVED, that in the event any of the holders of like
bonds shall receive a sum in excess of 5% flat, then.. in that event, the said City
of Okeechobee, Florldaq shall receive a like amount; it being expressly agreed
and understood by any person to whom it may concern, that the said City of Okee-
ohobee, Floridat makes this agreement to sell its bonds at 5%flat for the purpose
i, of aiding the Eagle Bay Sub -Drainage District in refinancing its indebtedness and
ob,ligations and that it is to receive an amount for its bonds in proportion to the
amount held by said City as any other holder of bonds of the same, series shall re-
ceive in exchange for their bonds.
BE IT FURTHER RESOLVED that this alleement shall be in full force and
effect for a period of four months from date hereof, and in the event that Eagle
Bay Sub -Drainage District shall not complete the financing of its obligations as
heretofore mentionedp that is to say, from August 31, 1935, and shall pay to said
City the sum of money hereiVL specified, then this option to beA null and void,,
otherwise to remain in full force and effect,
Passed in open special session this 23rd day of August, A. D. 1935.
CITY OF OKEECHOBEE' FLORIDA
By 0. L. Hunt
President City Q uncil
'ATTEST: Alto - Watford
CleFk"
1,(Corporate seal)
The above and foregoing Resolution is hereby approved by me this 23rd
day of August, A. D. 1935*
H. H. Hancock
Mal -or
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