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1993-081
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1993-081
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Last modified
8/8/2019 12:47:36 PM
Creation date
8/8/2019 12:45:29 PM
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Resolutions
Resolution Number
1993-081
Approved Date
04/13/1993
Resolution Type
Revenue BOnds
Subject
Specifying terms and provisions of Water & Sewer Revenue revenue bonds (93-80)
Document Relationships
1993-080
(Agenda)
Path:
\Resolutions\1990'S\1993
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F*0" 9 M 4 994 224 1544 4.12.1993 29142 P.15 <br />(viii) A certificate from the NationsBank of <br />Florida, N.A. in form and substance satisfaotory to the <br />Underwriter and its counsel, to be dated the Date of <br />Closing. <br />(ix) A certificate of, or opinion of counsel to, <br />the Insurer to the effect that the information relating <br />to it appearing under the caption "Municipal Bond <br />Insurance" in the official Statement accurately and <br />fairly presents the information purported to be shown <br />therein, fairly and accurately describes the Insurer. <br />(x) An opinion, dated the Date of Closing, and <br />addressed to the Underwriter from counsel for the <br />Insurer, to the effect that: (A) the Insurer is duly <br />organized and validly existing under 'the laws of its <br />state of incorporation and is qualified to do business in <br />the State of Florida, and (B) the Policy has been duly <br />and validly issued by the Insurer and constitutes the <br />legal, valid and binding obligation of the Insurer <br />enforceable in accordance with its terms except as <br />limited by bankruptcy, insolvency, moratorium and other <br />laws affecting creditors' rights generally and subject as <br />to enforceability by general principles of equity. <br />(xi) verification by a firm of independent <br />certified public accountants, of the accuracy of the <br />mathematical computations supporting (i) the adequacy of <br />the maturing principal amounts of, and interest earned <br />on, the Escrow Securities deposited under the Escrow <br />Deposit Agreement to pay the principal of and interest <br />and premium on, the obligations being refunded with the <br />proceeds of the Bonds, and (ii) the conclusion that the <br />refunding aspects of the Bonds will not cause the Bonds <br />to be "arbitrage bonds" under Section 103(c) of the <br />Internal Revenue Code. <br />(xii) Such additional legal opinions, certificates, <br />instruments and other documents as the Underwriter may <br />reasonably request to evidence the truth and accuracy, as <br />of the date hereof and as of the Date of Closing, of the <br />County's representations and warranties contained herein <br />and of the statements and information contained in the <br />Official Statement and the due performance or satisfac- <br />tion by the County on or prior to the Date of Closing of <br />all the agreements than to be performed and all <br />conditions then to be satisfied by it. <br />(f) The insurer shall have issued its policy to insure <br />the Bonds and Fitch Investors Service, Inc., Standard i Poor's <br />Corporation and Moody's Investors Service, Inc. shall have <br />-14- <br />
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