1993-145 - Laserfiche WebLink

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Record Date. The principal of, premium, if any, and interest on this Bond are payable in lawful money of the United States of America. This Bond is one of the revenue bonds authorized by the County under the authority of and in full compliance with the Constitution and laws of the State of Florida, including particularly Chapter 125, Florida Statutes, Ordinance No. 77-19 of the County and Resolution No. 93-_ of the County, all as amended and supplemented, and other applicable provisions of law. The above -referenced resolution as amended and supplemented from time to time is hereinafter referred to as the "Resolution". This Bond is subject to all the terms and conditions of the Resolution. This Bond is one of the revenue bonds designated as Recreational Revenue Refunding Bonds, Series _, all of like date and tenor, except as to numbers, denominations, dates of maturity, rates of interest and provisions for redemption, in the aggregate principal amount of Dollars ($ ) (the "Bonds"). The proceeds of the Bonds, together with certain other available funds of the County, will be used to retire the Retired Bonds, as defined in the Resolution, to establish a reserve account and to pay certain costs and expenses relating to issuance of the Bonds and retirement of the Retired Bonds, all as more fully set forth in the Resolution. The principal, interest and premium, if any, on the Bonds are payable from, and are equally and ratably secured by (1) a first lien upon and pledge of (a) the Net Revenues to be derived by the County from the operation of Recreational Facilities; (b) the Racetrack and Jai Alai Fronton Funds; and (c) certain funds and accounts pledged for the payment of the principal of, premium, if any, and interest on the Bonds and certain earnings thereon; and (2) a subordinate lien upon and pledge of the Half -Cent Sales Tax distributed to the County (collectively, the "Pledged Funds"), all as defined and to the extent and as more fully provided in the Resolution. As provided in the Resolution, upon the happening of certain events, the Bonds shall be payable from and be equally and ratably secured by a first lien upon and pledge of fourteen percent (148) of the Half -Cent Sales Tax in lieu of being payable from and equally and ratably secured by the subordinate lien upon and pledge of the Half -Cent Sales Tax. Reference is made to the Resolution for terms and conditions upon which additional bonds may be issued from time to time having a lien upon and right to payment on a parity with the Bonds. This Bond does not constitute a general indebtedness of the County within the meaning of any constitutional or statutory provision or limitation. It is expressly agreed by the Registered Owner of this Bond that such Registered Owner shall never have the right to require or compel the exercise of the ad valorem taxing power of the County for the payment of the principal of, interest or premium, if any, on this Bond or the making of any other payments specified by the Resolution. It is further agreed between the County and the Registered Owner of this Bond that this Bond and the indebtedness evidenced hereby shall constitute a lien upon only the Pledged Funds, all in the manner and to the extent provided in the Resolution. (To be inserted where appropriate on face of bond: "REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE SIDE HEREOF, AND SUCH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH ON THIS SIDE.") 10