Laserfiche WebLink
a JAN 28 1981 <br />PAGE*1$ <br />RESOLUTION NO. 81-6 <br />A RESOLUTION AUTIIORIZING THE ISSUANCE OF NOT <br />EXCEEDING $236,000 WATER AND SEWER. REVENUE <br />BONDS, SECOND SERIES 1979, ANTICIPATION NOTES <br />OF INDIAN RIVER COUNTY, FLORIDA; PROVIDING FOR <br />THE PAYMENT THEREOF AND ENTERING INTO CERTAIN <br />COVENANTS AND AGREEMENTS WITI1 THE 110LDrRS <br />THEREOF. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA (the "Issuer"), as follows: <br />SECTION 1. AUTHORITY FOR RESOLUTION. This resolution <br />is adopted pursuant to Section 215.431, Florida Statutes (1980), <br />and other applicable provisions of law. <br />A. On January 4, 1979, the Issuer adopted a resolution <br />(the "Enabling Instrument") authorizing the issuance of $236,000 <br />Water and Sewer Revenue Bonds, Second Series 1979, of the Issuer <br />(the "Bonds"), for the purpose of paying a part of the cost of <br />acquiring water distribution and sewage collection and treatment <br />facilities and constructing extensions and improvements thereto (the <br />"Project"). <br />B. The Bonds and the coupons appertaining thereto will be <br />payable solely from and secured by a prior lien -upon and pledge of <br />the gross revenues to be derived by the Issuer from the operation of - <br />such facilities (the "Pledged Funcls"). Reference is made to the <br />Enabling Instrument for a more complete description of the covenants, <br />liens and pledge securing paN7ment of the Bonds and the coupons <br />appertaining thereto. <br />C. It is necessary and urgent that funds be made immediately <br />available in order to provide money for the commencement of the Project <br />at this time. The Issuer must, therefore, anticipate the receipt by it <br />of the proceeds to be derived from the sale of the Bonds, and the Issuer <br />has determined it to be in the best interest of the Issuer and its <br />residents and inhabitants that interest bearing notes of the Issuer <br />(the "Notes") }.::e issued pursuzint to this resolution in anticipation of <br />the rece-nt } the I suer of tbr, proceeds from the sale of the Bonds. <br />"1,-- principa-1 of ary interest cn t; -e Notes will be payable solely from <br />