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ON MOTION by Commissioners Bowman, SECONDED by
<br />Commissioner Bird, the Board unanimously (4-0)
<br />adopted Resolution 88-41, providing for thefrefinancing
<br />of the SR -60 wastewater project.
<br />RESOLUTION 88-41
<br />A RESOLUTION AMENDING AND SUPPLEMENTING RESOLUTION NO. 85-36
<br />OF INDIAN RIVER COUNTY, FLORIDA, ENTITLED:
<br />"RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING
<br />$5,165,000 IMPROVEMENT BONDS, SERIES NO. 2, OF INDIAN RIVER
<br />COUNTY, FLORIDA, TO FINANCE THE COST OF THE ACQUISITION AND
<br />CONSTRUCTION OF CERTAIN SEWAGE COLLECTION AND TREATMENT
<br />IMPROVEMENTS TO THE COMBINED WATER AND SEWER SYSTEM OF THE
<br />COUNTY; PROVIDING FOR THE RIGHTS OF THE HOLDERS THEREOF AND
<br />PLEDGING FOR THE PAYMENT THEREOF THE PROCEEDS FROM SPECIAL
<br />ASSESSMENTS FOR IMPACT FEES LEVIED, AGAINST PROPERTY
<br />SPECIALLY BENEFITED BY SUCH IMPROVEMENTS; AND PROVIDING AN
<br />EFFECTIVE DATE",
<br />BY CHANGING CERTAIN INTEREST RATE, PAYMENT, REDEMPTION,
<br />FLOW -OF -FUNDS AND SECURITY PROVISIONS APPLICABLE TO THE
<br />SERIES NO. 2 BONDS AND MODIFYING SUCH BONDS ACCORDINGLY; AND
<br />BY ESTABLISHING CERTAIN PROVISIONS REGARDING: (1) COMPLIANCE
<br />WITH APPLICABLE FEDERAL INCOME TAX LAWS, (2) ASSIGNMENT OF
<br />THE SERIES NO. 2 BONDS BY THE CURRENT HOLDER THEREOF TO THE
<br />PURCHASER THEREOF, (3) APPLICATION OF THE FUNDS PAID BY SUCH
<br />PURCHASER, (4) EXECUTION AND DELIVERY OF, AND PERFORMANCE BY
<br />THE COUNTY OF ITS OBLIGATIONS UNDER, ALL CLOSING DOCUMENTS
<br />REQUIRED IN CONNECTION WITH THE SUBJECT TRANSACTION, AS
<br />APPROVED BY BOND COUNSEL, AND (5) SATISFACTION BY THE COUNTY
<br />OF ANY OTHER REQUIREMENTS, AS APPROVED BY BOND COUNSEL,
<br />IMPOSED BY THE PURCHASER OF THE SERIES NO. 2 BONDS IN
<br />CONNECTION WITH CONSUMMATING THE SUBJECT TRANSACTION; AND
<br />PROVIDING THE EFFECTIVE DATE HEREOF.
<br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER
<br />COUNTY, FLORIDA THAT:
<br />ARTICLE 1 AUTHORITY FOR RESOLUTION. This Resolution (hereinafter,
<br />the "1988 Amending Resolution") is adopted by Indian River County, Florida (the
<br />"County") pursuant to the provisions of Chapter 125, Florida Statutes (1987), as
<br />amended, Ordinance No. 83-46 of the County, including the provisions of Chapter
<br />170, Florida Statutes, incorporated therein, as amended by Ordinance No. 84-51 of
<br />the County (collectively, the "Authorizing Ordinance"), and other applicable
<br />provisions of law.
<br />ARTICLE 2 DEFINITIONS. All terms and phrases used herein shall have
<br />the meanings ascribed to them in the Series No. 2 Resolution, as hereinafter
<br />defined, except as otherwise specifically provided herein.
<br />ARTICLE 3 FINDINGS. It is hereby ascertained, determined and
<br />declared that:
<br />3.10. The Board of County Commissioners of Indian River County,
<br />Florida (hereinafter, the "Board"), on March 20, 1985, duly adopted Resolution
<br />No. 85-36 entitled:
<br />"RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING
<br />$5,165,000 IMPROVEMENT BONDS, SERIES NO. 2, OF INDIAN RIVER
<br />COUNTY, FLORIDA, TO FINANCE THE COST OF THE ACQUISITION AND
<br />CONSTRUCTION OF CERTAIN SEWAGE COLLECTION AND TREATMENT
<br />IMPROVEMENTS TO THE COMBINED WATER AND SEWER SYSTEM OF THE
<br />COUNTY; PROVIDING FOR THE RIGHTS OF THE HOLDERS THEREOF AND
<br />PLEDGING FOR THE PAYMENT THEREOF THE PROCEEDS FROM SPECIAL
<br />ASSESSMENTS FOR IMPACT FEES LEVIED, AGAINST PROPERTY
<br />SPECIALLY BENEFITED BY SUCH IMPROVEMENTS; AND PROVIDING AN
<br />EFFECTIVE DATE",
<br />which Resolution was duly amended by the Board on June 5, 1985 by Resolution No.
<br />85-62 (the " 1985 Amending Resolution") entitled:
<br />"A RESOLUTION AMENDING A RESOLUTION OF THE BOARD OF COUNTY
<br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, ENTITLED:
<br />RESOLUTION 88-41 IS ON FILE IN ITS ENTIRETY IN THE OFFICE OF THE
<br />CLERK TO THE BOARD
<br />45 BOOK 73 f'Au 13
<br />JUS 8 1988
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