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1990-067
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1990-067
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Last modified
2/26/2021 11:21:06 AM
Creation date
1/26/2021 11:12:07 AM
Metadata
Fields
Template:
Resolutions
Resolution Number
1990-67
Approved Date
05/22/1990
Subject
Special Assessment Revenue Bonds Series E Authorizing the Issuance
Area
Rockridge Wastewater System
Document Relationships
1989-054
(Agenda)
Path:
\Resolutions\1980'S\1989
1990-040
(Agenda)
Path:
\Resolutions\1990'S\1990
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that: SECTION 2. Findings. It is hereby ascertained, determined and declared <br />A. The Board of County Commissioners (the "Board") of Indian <br />River County, Florida (the "County"), on March 27, 1990, duly <br />adopted Resolution No. 90-40 (which resolution, together with all <br />amendments and supplements thereto heretofore adopted, is <br />hereinafter called the "Bond Resolution") authorizing the issuance <br />of a series of bonds to be designated as the "Special Assessment <br />Revenue Bonds, Series 1990", the net proceeds of which will be used <br />to reimburse the County for a portion of the cost of acquisition and <br />construction of certain sewer line extensions and a certain low <br />pressure grinder pump sewerage system in connection with the <br />Rockridge Wastewater System of the County and to make a deposit into <br />the Impact Fee Trust Fund for the Expansion of the Indian River <br />County Sewerage System to pay for the expansion of the sewage <br />disposal system of the County, including without limitation the <br />acquisition and construction of a sewer system to be known as the <br />"Rockridge Wastewater System". <br />B. To provide further the terms of the bonds to be issued <br />pursuant to the Bond Resolution and for the security thereof, it is <br />necessary to amend and supplement the Bond Resolution as set forth <br />below. <br />SECTION 3. Amendments and Sunnlements to Section 15 of the Bond <br />Resolution. Section 15 of the Bond Resolution shall be amended and supplemented <br />as follows: <br />A. The last sentence of Clause (1) of Subsection B shall be <br />amended to read as follows: <br />"In the event the Revenues on deposit in the Revenue <br />Fund are insufficient for such purpose, the County shall <br />transfer money to the Sinking Fund from the following <br />funds in the indicated order of priority: First, the <br />Reserve Account and, second, the Bond Redemption <br />Account." <br />- 2 - <br />
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