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1993-080
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1993-080
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Last modified
8/8/2019 12:41:48 PM
Creation date
8/8/2019 12:41:08 PM
Metadata
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Resolutions
Resolution Number
1993-080
Approved Date
04/13/1993
Resolution Type
Bond retirement
Subject
retirement of certain outstanding Water & Sewer Revenue Bonds (authorizes $47,190,000 and $3,330,000
Document Relationships
1993-081
(Cover Page)
Path:
\Resolutions\1990'S\1993
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P. "Net Revenues" shall mean the Revenues less Operating Expenses. <br />Q. "Operating Expenses" shall mean the current expenses paid or accrued <br />for the operation, maintenance and repair of all facilities constituting a part <br />of the System, as determined in accordance with generally accepted accounting <br />methods, and shall include, without limiting the generality of the foregoing, <br />insurance premiums, administrative expenses of the County related solely to the <br />System, costs of labor, materials and supplies used for such operation and <br />charges for the accumulation of appropriate reserves for current expenses not <br />annually recurrent but which are such as may reasonably be expected to be <br />incurred in accordance with such accepted accounting methods, but shall exclude <br />payments into the Sinking Fund or the Reserve Account therein and any allowances <br />for depreciation or for renewals or replacements of capital assets of the System. <br />R. "Paying Agent" shall mean with respect to any particular series of <br />Bonds issued hereunder the paying agent for said series of Blinds to be determined <br />by subsequent resolution of the Board. <br />S. "Pledged Funds" shall mean the Net Revenues, together with any other <br />receipts, revenues and funds pledged in connection with the Bonds. <br />T. "Record Date" shall mean the fifteenth (15th) day of the month <br />immediately preceding an interest or other applicable payment date for the Bonds. <br />U. "Registered Owner", "Bondholder" or any similar term shall mean any <br />person who shall be the owner of any outstanding Bond or Bonds as shown on the <br />books of the County maintained by the Bond Registrar. <br />V. "Resolution" shall mean this resolution, as amended and supplemented <br />from time to time. <br />W. "Reserve Account Requirement" shall mean the lesser of (i) the <br />maximum amount of principal and interest on all outstanding Bonds becoming due <br />in any ensuing Fiscal Year; or (11) 1258 of the average annual amount of <br />principal and interest on all outstanding Bonds becoming due in ensuing Fiscal <br />Years. <br />X. "Retired Bonds" shall mean the outstanding Series 1986 Bonds, the <br />outstanding Series 1986A Bonds, the outstanding Series 1989 Bonds, the <br />outstanding Series 1991 Bonds, the outstanding Series 1989 Special Assessment <br />Bonds and the outstanding Series 1990 Special Assessment Bonds. <br />Y. "Revenues" shall mean (1) the Uniform Charges; (2) the Series 1989 <br />Special Assessment Revenues; (3) the Series 1990 Special Assessment Revenues; (4) <br />the Series 1991 Revenues; (5) the Series 1993 Special Assessment Revenues; (6) <br />subject to the consent of the Series 1993 Bond Insurer, such Surcharges, Impact <br />Fees, Special Assessments, Franchise Fees and Fees in lieu of Franchise Fees as <br />the Board, by resolution, may designate as Revenues; and (7) subject to the <br />consent of the Series 1993 Bond Insurer, such other receipts and revenues of the <br />County as the Board, by resolution, may designate as Revenues. "Revenues" shall <br />not include, however, such receipts and revenues as, from time to time, may be <br />released from the pledge created hereunder as permitted by Section 16 hereof. <br />Z. "Series 1986 Bonds" shall mean the Indian River County, Florida Water <br />and Sewer Revenue Bonds, Series 1986, dated as of December 20, 1989, in the <br />
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