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7/11/1995
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7/11/1995
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
07/11/1995
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RESOLUTION 95-83 <br />(G) Parties Interested Herein. Nothing in the <br />Resolution expressed or implied is intended or shall be <br />construed to confer upon, or to give or grant -to, any person <br />or entity, other than the Issuer,'AMBAC Indemnity, the Paying <br />Agent and the registered owners of the Bonds, any right, <br />remedy or claim under or by reason hereof or of the Resolution <br />or any covenant, condition or stipulation hereof or thereof, <br />and all covenants, stipulations, promises and agreements <br />herein and in the Resolution contained by and on behalf of the <br />Issuer shall be for the sole and exclusive benefit of the <br />Issuer, AMBAC Indemnity, the Paying Agent and the .registered <br />owners of the Bonds. <br />(H) "Defeasance. Notwithstanding anything herein or in <br />the Resolution to the contrary, in the event that the <br />principal and/or interest due on the Bonds shall be paid by <br />AMBAC Indemnity Corporation pursuant to the Municipal Bond <br />Insurance Policy, the Bonds shall remain Outstanding for all <br />purposes, not be defeased or otherwise satisfied and not be <br />considered paid by the Issuer, and the assignment and pledge <br />hereunder and all covenants, agreements and other obligations <br />of the Issuer to the registered owners shall continue to exist <br />and shall run to the benefit of AMBAC Indemnity, and AMBAC <br />Indemnity shall be subrogated to the rights of such registered <br />owners. <br />SECTION 7. In order to revise certain covenants made by the <br />Issuer in connection with its responsibility to provide continuing <br />disclosure pursuant to Rule 15c2-12 promulgated by the Securities <br />and Exchange Commission, Section 11 of Resolution No. 95-75 is <br />hereby amended in its entirety to read as follows: <br />A. The Issuer hereby agrees, in accordance with the <br />provisions of Rule 15c2-12 (the "Rule"), promulgated by the <br />Securities and Exchange Commission (the "Commission") pursuant to <br />the Securities Exchange Act of 1934, to provide or cause to be <br />provided, to each nationally recognized municipal securities <br />information repository ("NRMSIR") designated by the Commission in <br />accordance with the Rule, and to the appropriate state information <br />depository ("SID"), if any, designated by the State of Florida, the <br />following annual financial information and operating data (the <br />"Annual Information"), commencing with the fiscal year ending <br />September 30, 1996: <br />1. The. assessed value of taxable property within the County, <br />Issuer tax levies and collections, including property tax rates for <br />the Issuer and all overlapping taxing entities, and computation of <br />direct and overlapping debt; all generally consistent with such <br />information as it is included in the final official Statement for <br />the Bonds. <br />2. The audited general purpose financial statements of the <br />Issuer utilizing generally accepted accounting principles <br />applicable to governmental units, as described in the Official <br />Statement, except as may be modified from time to time and <br />described in such financial statements. <br />JULY 119 1995 <br />53 <br />Boa 95 r-v"F 697 <br />
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