1989-046 - Laserfiche WebLink

Home Browse Search

local time at the location of the Bond Registrar (hereinafter defined) on the fifteenth (15th) day of the month next preceding each interest payment date (the "Record Date"), on the registration books maintained by (the "Bond Registrar"), , Florida, as Bond Registrar, irrespective Of any transfer or exchange of this Bond subsequent to such Record Date and prior to such interest payment date, unless the County shall be in default in payment of interest due on such interest payment date. In the event of any such default, such defaulted interest shall be payable to the person in whose name this Bond is registered on such registration books at 5:00 P.M. prevailing local time at the location of the Bond Registrar on a special record date for the payment of such defaulted interest established by notice mailed by the Paying Agent to the Registered Owner of this Bond not less than fifteen (15) days preceding such special record date. Such notice shall be mailed to the persons in whose names the Bonds are registered at the close of business of the Bond Registrar on the fifth (5th) day preceding the date of mailing. 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 Chapters 125 and 159, Florida Statutes (1988), and Resolution No. 89-19 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 Water and Sewer 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 outstanding series of water revenue and water and sewerrevenue bonds of the County described in the Resolution (the "Original Bonds"), to establish a debt service reserve account and to pay certain costs and expenses relating to issuance of the Bonds and retirement of the Original Bonds, all as more fully set forth in the Resolution. The Bonds and the interest due thereon are payable solely from, and are secured solely by a lien upon and pledge of, the Net Revenues, as that term is defined in the Resolution, to be derived by the County from the operation of the water and sewer systems defined in the Resolution as the "System", and certain funds and accounts pledged for the payment of the principal of, interest and premium, if any, on the Bonds and certain earnings thereon, all as provided in the Resolution (the "Pledged Funds"). Reference is made to the Resolution - 14 -