2005-021 - Laserfiche WebLink

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Bonds and to take certain other actions in connection with the issuance and sale of the Series 2005 Bonds. (K) The County has authorized the purchase of municipal bond insurance and has received a commitment for such insurance from Financial Guaranty Insurance Company (the "Bond Insurer"). (L) The County purchased a Debt Service Reserve Fund Policy (the "Reserve Policy") in conjunction with the issuance of the Series 1996 Bonds from Financial Guaranty Insurance Company and executed a Financial Guaranty Agreement in connection therewith, which Reserve Policy will remain in effect following the issuance of the Series 2005 Bonds and will satisfy the Debt Service Reserve Fund Requirement for the Series 2005 Bonds. (M) The County will be provided all applicable disclosure information required by Section 218.385, Florida Statutes, at the time of execution and delivery of the Bond Purchase Contract; and SECTION 4. AUTHORIZATION TO DEFEASE THE SERIES 1996 BONDS; ESCROW DEPOSIT AGREEMENT; APPOINTMENT OF ESCROW HOLDER. The defeasance and redemption of the Series 1996 Bonds maturing on and after September 1, 2007 with a redemption date of September 1, 2006 is hereby authorized. The form of Escrow Deposit Agreement to be used in connection with the defeasance and redemption of the Refunded Bonds attached hereto as Exhibit "A" and incorporated herein by reference is hereby approved. The Chairman, or in his absence the Vice Chairman, are hereby authorized to execute such Escrow Deposit Agreement in substantially the form attached as Exhibit "A" upon the approval of the County Attorney as to form and legal sufficiency, with such additional changes, insertions and omissions therein as do not change the substance thereof and as may be approved by the said officers of the County executing the same, such execution to be conclusive evidence of such approval. The County hereby selects J.P. Morgan Trust Company, N.A.; Jacksonville, Florida, to serve as Escrow Holder under the Escrow Deposit Agreement. SECTION 5. RESOLUTION TO CONSTITUTE CON"1"RACT. In consideration of the acceptance of the Bonds authorized to be issued hereunder by those who shall hold the same from time to time, this Resolution shall be deemed to be and shall constitute a contract between the County and such Holders. The covenants and agreements herein set forth to be performed by the County shall be for the equal benefit, protection and security of the legal Holders of any and all of the Bonds, allof which shall be of equal rank and without preference, priority or distinction of any of the Bonds over any other thereof, except as expressly provided therein and herein. 5