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5/1/1981
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5/1/1981
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Last modified
7/23/2015 11:49:17 AM
Creation date
6/11/2015 1:05:16 PM
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Meetings
Meeting Type
Special Call Meeting
Document Type
Minutes
Meeting Date
05/01/1981
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rlp- <br />BOOK 65 <br />MR.- LEVrNGOOD STATED IT HAD BEEN SUGGESTED THAT -.THIS <br />NUMBER SHOULD -BE THE PAR AMOUNT LESS DISCOUNT, BUT HE WOULD BE <br />MOST COMFORTABLE WITH -THE -NUMBER REPRESENTING THE AMOUNT OF TH-E <br />CHECK -THEY WILL BE DELIVERING TO'THE'-COUNTY NEXT TUESDAY IN <br />EXCHANGE FOR THE COUNTY DELIVERING THE NOTES TO THEM, --WHICH WOULD <br />BE A DIFFERENT AMOUNT BECAUSE THERE ARE ALSO EXPENSES WHICH MUST <br />BE TAKEN INTO.CONSIDERATION. <br />WHILE MR.-LEVINGOOD WORKED OUT THIS FIGURE, ATTORNEY <br />COLLINS INFORMED THE BOARD THAT THERE -ARE DOCUMENTS THAT NEED TO <br />BE SIGNED. THE -FIRST IS A RESOLUTION AMENDING RESOLUTION - <br />N0. 80-63 WHICH WAS THE RESOLUTION THAT"AUTHORIZED THE BOND <br />ISSUE FOR THE 5.S MILLION. -THE PURPOSE OF THE AMENDMENT IS TO <br />PROVIDE FOR A CONSTRUCTION FUND AND TO.PROVIDE THE VEHICLE FOR <br />THE -PASSAGE OF THE SECOND RESOLUTION,- WHICH IS THE BOND ANTICIPA- <br />TION NOTE RESOLUTION. <br />ON MOTION BY COMMISSIONER WODTKE, SECONDED BY COMMISSIONER <br />SCURLOCK, THE BOARD BY A 4 TO I VOTE, COMMISSIONER FLETCHER VOTING <br />IN OPPOSITION, ADOPTED AMENDATORY RESOLUTION N0. 81-29. <br />RESOLUTION AMENDING RESOLUTION NO. 80-63 OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, ENTITLED: <br />"RESOLUTION PROVIDING EOR 2HE ACQUISITION AND CONSTRUCTION OF <br />CERTAIN WATER FACILITIES IN INDIAN RIVER COUNTY, FLORIDA; <br />AUTHORIZING THE ISSUANCE BY THE COUNTY OF NOT EXCEEDING $5,825,900 <br />WATER REVUE BONDS, SERIES 1980 (SOUTH COUNTY WATER SYSTEM), TO <br />FINANCE A PART OF THE COST THEREOF; PLEDGING THE GROSS REVENUES <br />OF SUCH FACILITIES TO SECURE PAYMENT OF THE PRINCIPAL OF AND <br />INTEREST ON THE BONDS; AND PROVIDING FOR THE RIGHTS OF THE HOLDERS <br />OF THB BONDS." <br />BY CREATING AND ESTABLISHING A NOTES PAYMENT ACCOUNT WITHIN THE <br />CONSTRUCTION FUND FOR THE BENEFIT OF THE HOLDERS OF BOND ANTICIPATION <br />NOTES; AND PROVIDING AN U'FECTIVE DATE. <br />DISCUSSION CONTINUED ON THE FIGURE TO BE USED FOR THE <br />PRICE AND MR, LEVINGOOD STATED $5,737,625 REPRESENTS THE PAR AMOUNT <br />LESS DISCOUNT; THE DIFFERENCE IS EXPRESSED IN CLOSING COSTS, <br />ATTORNEY COLLINS SUGGESTED THAT THE BOARD ADOPT THE BOND <br />ANTICIPATION NOTE RESOLUTION INSERTING 9.2% INTEREST AND APPROXI- <br />MATELY $5,737,625 OR SUCH OTHER EXACT FIGURE AS MAY BE SUBSTITUTED <br />BY BOND COUNSEL. <br />ON MOTION BY COMMISSIONER SCURLOCK, SECONDED BY <br />COMMISSIONER WODTKE, THE BOARD BY A 4 - 1 VOTE, COMMISSIONER <br />FLETCHER VOTING IN OPPOSITION, ADOPTED RESOLUTION N.O. 31-30 WITH <br />F. <br />
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