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Last modified
6/28/2024 11:15:54 AM
Creation date
10/5/2015 8:49:29 AM
Metadata
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Template:
Resolutions
Resolution Number
2009-118
Approved Date
07/21/2009
Agenda Item Number
12.G.1.
Resolution Type
Amendment & Supplement
Resolution No. 93-80
Entity Name
Water and Sewer Revenue Refunding Bonds 2009
Subject
County’s Water and Sewer Revenue Bonds, Series 1993A
Supplemental fields
SmeadsoftID
6808
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April 13, 1993, as supplemented (the "Original Resolution") shall have the same <br />meanings when used herein. <br />"Revenues" shall have the meaning assigned thereto in the Original Resolution, <br />except that with respect to the Series 2009 Bonds, it shall also include the Series 1993 <br />Special Assessment Revenues. <br />"Series 1993 Bonds" shall mean the County's Water and Sewer Revenue Bonds, <br />Series 1993A, issued in the original principal amount of $47,190,000. <br />"Series 1993 Special Assessment Revenues" shall mean the special assessments <br />now or hereafter levied by the County in connection with a portion of the Series 1993 <br />Projects, and the interest, prepayment charges and penalties received by the County in <br />connection therewith. <br />"Series 2009 Bonds" shall mean the County's Water and Sewer Revenue <br />Refunding Bonds, Series 2009, issued pursuant to this Resolution as Additional Parity <br />Bonds under the Original Resolution. <br />SECTION 3. FINDINGS. It is hereby ascertained, determined and declared that: <br />(A) The County now owns, operates and maintains the System and will continue <br />to derive revenue from the rates, fees, rentals and other charges made and collected for <br />the service of such System, which Revenues and the other revenues pledged pursuant to <br />the provisions of the Original Resolution are not now pledged or encumbered in any <br />manner, except for the payment of the Series 1993 Bonds. <br />(B) The principal of and interest and redemption premium, if any, on the Series <br />2009 Bonds, the Series 2005 Bonds and all reserve and other payments shall be payable <br />solely from the Pledged Funds as provided herein and in the Original Resolution. The <br />County shall never be required to levy ad valorem taxes on any real or personal <br />property therein to pay the principal of and interest on the Series 2009 Bonds or to make <br />any other payments provided for herein. The Series 2009 Bonds shall not constitute a <br />lien upon any properties owned by or located within the boundaries of the County. <br />(C) The Original Resolution, in Section 17(P) thereof, provides for the issuance of <br />Additional Parity Bonds under the terms, limitations and conditions provided therein. <br />(D) The County has by this Resolution determined to redeem the Series 1993 <br />Bonds on the first optional redemption date following sale of the Series 2009 Bonds for <br />which notice of redemption may be given, with the proceeds of the Series 2009 Bonds <br />and other funds of the County. <br />2 <br />
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