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1999-121
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1999-121
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3/28/2019 1:33:05 PM
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Resolutions
Resolution Number
1999-121
Approved Date
11/16/1999
Agenda Item Number
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SmeadsoftID
13910
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establish such maximum price and family income amounts at the maximum levels <br />provided pursuant to the Code without further action of the Participating County. <br />(B) The fees and expenses of the Participating County shall be paid from the <br />proceeds of the program in the manner and to the extent mutually agreed upon by the <br />officials of the Participating County and the Escambia Authority at or prior to issuance <br />of the 2000 Escambia Bonds. <br />Section 4 Term This Agreement will remain in full force and effect from the <br />date of its execution until such time as it is terminated by any party upon ten (10) <br />days written notice to the other party hereto. Notwithstanding the foregoing, it is <br />agreed that this Agreement may not be terminated by the Participating County during <br />the Authorization Period, or by any party during any period that the 2000 Escambia <br />Bonds issued pursuant to the terms hereof remain outstanding, or during any period <br />in which the proceeds of such 2000 Escambia Bonds (or investments acquired <br />through such proceeds) are still in the possession of the Escambia Authority, or Its <br />agents, pending distribution, unless either (i) the parties to this Agreement mutually <br />agree in writing to the terms of such termination or (ii) such termination, by its terms, <br />only applies prospectively to the authorization to issue 2000 Escambia Bonds for <br />which no Allocation Amount has been obtained or used by the Escambia Authority <br />and for which no purchase contract has been entered into. It is further agreed that in <br />the event of termination the parties to this Agreement will provide continuing <br />cooperation to each other in fulfilling the obligations associated with the issuance of <br />Bonds pursuant to this Agreement. <br />Section 5 Indemnity To the full extent permitted by law, the Escambia <br />Authority agrees to hold the Participating County harmless from any and all liability <br />for repayment of principal of and interest or penalty on the 2000 Escambia Bonds <br />issued pursuant to this Agreement, and the members, officials, employees and agents <br />of the Participating County harmless from any and all liability in connection with the <br />approval rendered pursuant to Sections 159.603 and 159.604, Florida Statutes. The <br />Escambia Authority agrees that any offering, circular or official statement approved by <br />and used in marketing the 2000 Escambia Bonds will include a statement to the effect <br />that Bond owners may not look to the Participating County or its respective members, <br />officials, employees and agents for payment of the 2000 Escambia Bonds and interest <br />or premium thereon. <br />MCL -07/22/99 <br />rev -08/30/99 <br />rev -08/31 /99-6383-indianriver-indrivia <br />
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