3/20/2019 9:55:30 AM
10/5/2015 9:38:28 AM
State Filed Date
County Capital Projects
77-19 Section 2 amendment
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ORDINANCE NO. 80-3 <br />AN EMERGENCY ORDINANCE AMENDING COUNTY <br />ORDINANCE NO. 77-19 ENTITLED: "AN ORDINANCE <br />RELATING TO THE ACQUISITION, CONSTRUCTION, <br />FURNISHING AND EQUIPPING OF COUNTY CAPITAL <br />PROJECTS IN INDIAN RIVER COUNTY, FLORIDA: <br />AUTHORIZING THE ISSUANCE OF BONDS BY THE BOARD <br />OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY, FLORIDA, TO FINANCE THE COST OF SUCH <br />PROJECTS, PAYABLE FROM REVENUES, IF ANY, <br />DERIVED FROM SAID PROJECTS AND ALSO PAYABLE <br />FROM A PORTION OF THE STATE REVENUE SHARING <br />TRUST FUNDS RECEIVED BY INDIAN RIVER COUNTY OR <br />OTHER FUNDS OF THE COUNTY DERIVED FROM SOURCES <br />OTHER THAN AD VALOREM TAXES, PROVIDING THE <br />METHOD BY WHICH THIS ORDINANCE SHALL BECOME <br />EFFECTIVE;" INCREASING THE MAXIMUM RATE OF <br />INTEREST WHICH BONDS ISSUED THEREUNDER MAY <br />BEAR; PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, pursuant to Article VIII, Section 1 of the <br />Constitution of the State of Florida and Section 125.01 et seq., <br />Florida Statutes, the Board of County Commissioners of Indian <br />River County, Florida, has all powers of local self-government to <br />perform county functions and to render county services in a <br />manner not inconsistent with general or special law and such <br />power may be exercised by the enactment of county ordinances; and <br />WHEREAS, the County has heretofore enacted County <br />Ordinance No. 77-19 authorizing the issuance of bonds to finance <br />County capital projects; and <br />WHEREAS, because of conditions in the municipal bond <br />market, it is necessary for the public health, safety and general <br />welfare of the County and its citizens that said Ordinance be <br />amended to increase the maximum interest rate at which bonds <br />issued pursuant to said Ordinance No. 77-19 may bear; <br />NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br />SECTION 1. Section 2 of Ordinance No. 77-19, duly <br />enacted on August 3, 1977, and effective August 9, 1977, and <br />referred to by title in the title of this Ordinance, be and the <br />same is hereby amended to read as follows: <br />"SECTION 2. To pay the cost of such projects, <br />as above described, or to refund any bonds issued for <br />STATE OF FLORIDA <br />INDIAN RIVER COUNTY <br />THIS IS TO CERTIFY THAT THIS IS <br />A TRUE AND CORRECT COPY OF <br />THE ORIGINAL ON FILE IN THIS <br />-1- OFFICE. <br />FREDA WRIGHT, CLERK <br />BY D.C. <br />DA0 <br />
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