2003-080 - Laserfiche WebLink

Home Browse Search

(C) Receipt by the Chairman, Vice Chairman or the County Administrator from the Underwriter of a disclosure statement and truth -in -bonding information complying with Section 218.385, Florida Statutes. (D) The proceeds of the sale of the Bonds shall be deposited by the Issuer on the date of issuance of the Bonds with the Refunded Bonds Paying Agent, together with other funds of the Issuer which are sufficient to redeem, in full, the Refunded Bonds on September 3, 2003, and proceeds of the Bonds in excess of this amount shall be used by the Issuer to pay the premium for the Financial Guaranty Insurance Policy and the debt service reserve fund policy authorized in Section 6 hereof, and to pay costs of issuing the Bonds. SECTION 3. The County Administrator is authorized and directed to cause a Preliminary Official Statement to be prepared in substantially the form attached hereto as Exhibit "B", with such changes, insertions and omissions as shall be approved by the County Administrator and to furnish a copy of such Preliminary Official Statement to the Underwriter. The County Administrator is authorized to deem final the Preliminary Official Statement prepared pursuant to this Section for purposes of Rule 15c2-12 (the "Rule") of the Securities and Exchange Commission. Upon the award of the 2003 Bonds to the Underwriter, the Issuer shall also make available a reasonable number of copies of the Official Statement to the Underwriter, who may mail such Official Statements to prospective purchasers at the Underwriter's expense. SECTION 4. U.S. Bank National Association, Ft. Lauderdale, Florida (the "Registrar and Paying Agent") is hereby appointed to serve as Registrar and Paying Agent for the Bonds. The Registrar and Paying Agent shall act as Agent for the Issuer and shall pay principal and interest of the Bonds in accordance with the Authorizing Resolution, this Resolution and in accordance with the laws of the State of Florida and the United States. SECTION 5. The Issuer hereby appoints First Southwest Company, Orlando, Florida as its financial advisor in connection with the Bonds, and such financial advisor is hereby authorized and directed to work with the Issuer's staff and Bond Counsel in reviewing the proposed Bond for this issue and the financial feasibility thereof SECTION 6. Insurance to insure the holder of any Bond the scheduled payment of principal and interest on behalf of the Issuer is hereby authorized to be purchased from Ambac Assurance Corporation ("AMBAC") in accordance with the commitment for insurance attached hereto as Exhibit "C", and payment for such insurance is hereby authorized from Bond proceeds. A statement of insurance is hereby authorized to be printed on or attached to the Bonds for the benefit and information of the Bondholders. For so long as the Financial Guaranty Insurance Policy is applicable to the Bonds, the additional provisions set forth on Exhibit "C" attached hereto shall be applicable to the Bonds. The Issuer hereby covenants and agrees for the benefit of AMBAC and the holders of the Bonds while the Financial Guaranty Insurance Policy insuring the Bonds is in full force and effect, to provide AMBAC with copies of any notices to be given to anypartypursuant to the Authorizing Resolution, 3