2003-075 - Laserfiche WebLink

Home Browse Search

(the "Bond Registrar"), , Florida, as Bond Registrar, irrespective of any transfer or exchange of this Bond subsequent to such Record Date and prior to such interest payment date, unless the County shall be in default in payment of interest due on such interest payment date. In the event of any such default, such defaulted interest shall be payable to the person in whose name this Bond is registered on such registration books at 5:00 P.M. prevailing local time at the location of the Bond Registrar on a special record date for the payment of such defaulted interest established by notice mailed by the Paying Agent to the Registered Owner of this Bond not less than fifteen (15) days preceding such special record date. Such notice shall be mailed to the persons in whose names the Bonds are registered at the close of business of the Bond Registrar on the fifth (5th) day preceding the date of mailing. At the option of any Registered Owner of $1,000,000 or more in aggregate principal amount of Bonds as of any Record date, interest shall be payable by domestic wire transfer pursuant to written instructions from such Registered Owner; provided that such instructions are on file with the Paying Agent not later than such Record Date. The principal of, premium, if any, and interest on this Bond are payable in lawful money of the United States of America. This Bond is one of the revenue bonds authorized by the County under the authority of and in full compliance with the Constitution and laws of the State of Florida, including particularly Chapter 125, Florida Statutes, Ordinance No. 95-16 of the County and Resolution No. of the County, all as amended and supplemented, and other applicable provisions of law. The above -referenced resolution as amended and supplemented from time to time is hereinafter referred to as the "Resolution". This Bond is subject to all the terms and conditions of the Resolution. This Bond is one of the revenue bonds designated as Recreational Revenue Refunding Bonds, Series 2003, all of like date and tenor, except as to numbers, denominations, dates of maturity, rates of interest and provisions for redemption, in the aggregate principal amount of Dollars ($ ) (the "Bonds"). The proceeds of the Bonds, together with certain other available funds of the County, will be used to refund the Refunded Bonds, as defined in the Resolution, to establish a reserve account, to pay certain costs and expenses relating to issuance of the Bonds and refunding of the Refunded Bonds, and to pay a portion of the costs of certain improvements to the County's Recreational Facilities, all as more fully set forth in the Resolution. The principal, interest and premium, if any, on the Bonds are payable from, and are equally and ratably secured by (1) a first lien upon and pledge of (a) the Net Revenues to be derived by the County from the operation of Recreational Facilities; (b) the Racetrack and Jai Alai Fronton Funds distributed to the County pursuant to Section 212.20(6)(d)7a, Florida Statutes; and (c) certain funds and accounts pledged for the payment of the principal of, premium, if any, and interest on the Bonds and certain earnings thereon; and (2) a first lien upon and pledge of seven percent (7%) of the Half -Cent Sales Tax as and when distributed to the County (collectively, the "Pledged Funds"), all as defined and to the extent and as more fully provided in the Resolution. Reference is made to the Resolution for terms and conditions upon which additional bonds may be issued from time to time having a lien upon and right to payment on a parity with A-2 of 6