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1962-046
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1962-046
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Last modified
1/6/2022 1:53:23 PM
Creation date
1/6/2022 1:51:58 PM
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Resolutions
Resolution Number
1962-046
Approved Date
07/24/1962
Resolution Type
Concenting to 80% Surplus Gasoline Tax
Entity Name
State Road Department
Subject
For Rental Payments under Lease-Purchase Agreement for Indian River County
Road and Bridge Project to be constructerd by Florida Development Commission
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Section 2. That the County of Indian River hereby consents <br />and agrees to the pledge of said Indian River County gasoline tax <br />funds to the payment of $400,000 of Florida Development Commission, <br />Indian River County Road and Bridge Revenue Bonds to be issued by <br />the Commission in the manner and according to the terms contained <br />in said Lease -Purchase Agreement, a copy of which is annexed hereto <br />and made a part hereof; and further agrees that such pledge shall <br />commence from and after the date of the bonds and shall continue in <br />full force and effect until all of said $400,000 bonds, including <br />any refundings thereof, and all interest thereon have been paid and <br />discharged. <br />Section 3. That the pledge of said Indian River County <br />gasoline tax funds made by said Lease -Purchase Agreement and <br />this resolution shall be deemed to have been made for the benefit of <br />the holders from time to time of said $400,000 of bonds to be <br />issued by the Commission, and shall be enforceable in any court <br />of competent jurisdiction against Indian River County, the State Road <br />Department, the Florida Development Commission, the State Board of <br />Administration, or any other agency of the State or Indian River <br />County having any duties concerning the collection, administration, and <br />disbursement of said Indian River County gasoline tax funds by any <br />-3- <br />5 <br />7 733 <br />
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