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12/13/1988
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12/13/1988
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
12/13/1988
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SECTION 4. AMENDMENTS TO BONDS ENABLING RESOLUTION. In <br />the event that the Board shall hereafter, by resolution duly <br />adopted, make the Junior and Subordinate Bonds Determination or <br />there occurs a Surcharge Insufficiency without Alternative <br />Financing, the Bonds Enabling Resolution shall thereafter be <br />amended as follows: <br />(a) Section 2 shall be amended to add Paragraph J(1) to read <br />"J(1). "FmHA Bonds Enabling Resolution" shall mean Resolution 82- <br />61 of the County, as amended and supplemented from time to time." <br />(b) Section 2 shall be amended to add Paragraph J(2) to read <br />"J(2). "Gross Revenues" shall mean Gross Revenues, as defined in <br />the FmHA Bonds Enabling Resolution, available after the <br />application of the FmHA Bonds Enabling Resolution." <br />(c) Section 2, Paragraph L shall be amended by .replacing the <br />word "Surcharges" with the phrase "Gross Revenues". <br />(d) Section 2 shall be amended to delete Paragraph P in its <br />entirety. <br />(e) Section 2 shall be amended to add Paragraph R to read "R. <br />"Unified System" shall mean the System as defined in the FmHA Bonds <br />Enabling Resolution." <br />(f) Section 3, Paragraph B shall be amended (a) to replace <br />the word "System" with the phrase "Unified System"; and (b) to <br />insert immediately after the word "Bonds" "except under and as <br />provided in the FmHA Bonds Enabling Resolution". <br />(g) Section 13 shall be amended to replace the first sentence <br />of the paragraph beginning at the bottom of page 8 in its entirety <br />with the sentence "This Bond and the interest due hereon are <br />payable solely from and are secured solely by a lien upon and <br />pledge of the gross revenues to be derived by the County from the <br />operation of the Unified System junior and subordinate to the lien <br />thereon and pledge thereof under Resolution 82-61 of the County, as <br />amended and supplemented from time to time, and certain funds and <br />accounts pledged for the payment of the principal of, interest and <br />premium, if any, on the Bonds and certain earnings thereon, all as <br />provided in the Resolution (the "Pledged Funds").". <br />(h) Section 15 shall be amended to place the first sentence <br />thereof in its entirety with the sentence "The payment of the <br />principal of, premium, if any, and interest on the Bonds shall be <br />secured forthwith equally and ratably by a pledge of and a lien <br />upon the Pledged Funds junior and subordinate to the lien thereon <br />and pledge thereof under the FmHA Bonds Enabling Resolution.". <br />(i) The word "Surcharges" shall be replaced with the phrase <br />"Gross Revenues" wherever applicable and/or appropriate. <br />(j) The word "System" shall be replaced by the phrase <br />"Unified System" wherever applicable and/or appropriate. <br />DEC <br />b) <br />988 <br />42 BOOK FACE 8 <br />
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