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Last modified
5/31/2017 3:27:16 PM
Creation date
9/30/2015 4:23:05 PM
Metadata
Fields
Template:
Resolutions
Resolution Number
2005-021
Approved Date
02/15/2005
Agenda Item Number
7.J.
Resolution Type
Utilities
Entity Name
Amending & Supplementing Resolution 93-80
Subject
Water and Sewer Revenue Refunding Bonds Series 2005
Archived Roll/Disk#
3129
Supplemental fields
SmeadsoftID
1187
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Any such duplicate Series 2005 Bonds issued pursuant to this Section shall <br />constitute original, additional contractual obligations on the part of the County whether or <br />not the lost, stolen or destroyed Series 2005 Bonds be at any time found by anyone, and <br />such duplicate Series 2005 Bonds shall be entitled to equal and proportionate benefits and <br />rights as to lien on and source and security for payment from the funds, as hereinafter <br />pledged, to the same extent as all other Series 2005 Bonds issued hereunder. <br />SECTION 14. PROVISIONS FOR REDEMPTION. The Series 2005 Bonds shall be <br />subject to redemption prior to their maturity, at the option of the County, at such times and <br />in such manner as shall be set forth in the Bond Purchase Contract herein authorized at the <br />time of sale of the Series 2005 Bonds, provided the first optional redemption date shall be <br />no later than 2015 at a redemption premium of not more than two percent (2%). <br />Notice of such redemption shall be provided in accordance with the provisions of <br />the Original Resolution. When notice of redemption is given, Series 2005 Bonds called for <br />redemption will become due and payable on the redemption date at the redemption price <br />stated in such notice. When a notice of redemption is given and funds sufficient for <br />redemption are deposited with the Registrar, interest on the Series 2005 Bonds to be <br />redeemed will cease to accrue on the date fixed for redemption, such Series 2005 Bonds <br />shall cease to be entitled to any lien, benefit or security under this Resolution and the <br />Holders of such Series 2005 Bonds will have no right in respect thereof except to receive <br />payment of the redemption price. <br />SECTION 15. FORM OF SERIES 2005 BONDS. The text of the Series 2005 Bonds, <br />together with the certificate of authentication, shall be in substantially the form set forth in <br />the Original Resolution, with such omissions, insertions and variations as may be <br />necessary, desirable, authorized or permitted by this Resolution or by any subsequent <br />resolution adopted prior to the issuance thereof, or as may be necessary to comply with <br />applicable laws, rules and regulations of the United States and of the State in effect upon <br />the issuance thereof. <br />SECTION 16. APPLICATION OF PROVISIONS OF ORIGINAL RESOLUTION. <br />The Series 2005 Bonds, herein authorized, shall for all purposes (except as herein expressly <br />provided) be considered to be Additional Parity Bonds issued under the authority of the <br />Original Resolution, and shall be entitled to all the protection and security provided therein <br />for the Series 1993 Bonds, and shall be in all respects entitled to the same security, rights <br />and privileges enjoyed by the Series 1993 Bonds. <br />The covenants and pledges contained in the Original Resolution shall be applicable <br />to the Series 2005 Bonds herein authorized in like manner as applicable to the Series 1993 <br />Bonds. The principal of and interest on the Series 2005 Bonds shall be payable from the <br />Sinking Fund established in the Original Resolution on a parity with the Series 1993 Bonds, <br />and payments shall be made into such Sinking Fund by the County in amounts fully <br />9 <br />
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