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1992-216
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1992-216
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Last modified
2/25/2021 2:20:53 PM
Creation date
10/20/2020 3:39:29 PM
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Resolutions
Resolution Number
1992-216
Approved Date
11/24/1992
Subject
Authorizing th Issuance of not exceeding $7,530,000 Refunding Revenue Bonds, Series 1992
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Bonds of such series under the provisions <br />of this clause (i) in the purchase of such <br />Term Bonds under the provisions of <br />subparagraph (1) above, such moneys or the <br />balance of such moneys, as the case may be, <br />shall be retained in the Bond Amortization <br />Fund and, as soon as it is feasible, <br />applied to the retirement of Term Bonds of <br />such series; and <br />(ii) any balance then remaining, <br />other than moneys retained under clause (i) <br />of this subparagraph, shall be applied to <br />the retirement of the Bonds as the County <br />in its sole discretion shall determine, but <br />only in the case of the redemption of Bonds <br />of any series, in such amounts and on such <br />terms as may be provided in the resolution <br />authorizing the issuance of the Bonds of <br />such series. <br />(4) The County shall deposit into the Bond <br />Amortization Fund Amortization Installments for the <br />amortization of the principal of the Current Interest <br />Paying Term Bonds of any series, and for the payment of <br />the Compounded Amounts for the Capital Appreciation Term <br />Bonds of any series, together with any deficiencies for <br />prior required deposits into the Bond Amortization Fund, <br />such Amortization Installments to be in such amounts (or <br />calculable amounts) and to be due on such date or dates <br />and in such years as shall be determined by resolution <br />of the County at or prior to the sale of the Bonds of <br />such series. With respect to Capital Appreciation Term <br />Bonds, subparagraphs (1) through (3) above shall not <br />apply. <br />After all other required payments have been made, <br />the County shall pay from the Revenue Fund all expenses <br />in connection with any such purchase or redemption. <br />Books and Records. The County shall maintain books and records <br />of the receipt and disbursements of the Sales Tax and any Bondholder shall have <br />the right at all reasonable times to inspect all accounts, records and data of <br />the County related thereto. <br />C-7 <br />
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