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1987-059
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1987-059
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Last modified
8/29/2022 12:28:08 PM
Creation date
8/29/2022 10:39:10 AM
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Resolutions
Resolution Number
1987-059
Approved Date
06/30/1987
Resolution Type
capital projects
Subject
capital projects - Capital Improvement Revenue Bonds, Series 1987 - $3,800,000
Amend & supplement Resolution 85-75 -
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0 <br />0 <br />of the Act and the requirements of this Resolution, as the Issuer shall <br />determine by subsequent resolution. <br />SECTION 15. Amendments to the Master Bond Resolution. The following <br />additional amendments are hereby made to the Master Bond Resolution: <br />A. The "Indian River County Refunding and Improvement Revenue Bonds <br />Revenue Fund" is renamed the "Indian River County Revenue Bonds Revenue Fund"; <br />B. The "Indian River County Refunding and Improvement Revenue Bond <br />Sinking Fund" is renamed the "Indian River County Revenue Bonds Sinking Fund"; <br />C. The "Refunding and Improvement Revenue Bonds, Bond Amortization <br />Fund" is renamed the "Indian River County Revenue Bonds Bond Amortization Fund"; <br />D. The "Reserve Account" is renamed the "Indian River County Revenue <br />Bonds Reserve Account"; <br />E. Section 17B(3) is amended to add the following at the end thereof: <br />"There is hereby created and established a subaccount <br />within the Reserve Account to be known as the "Series 1987 <br />Reserve subaccount." There shall be applied and allocated <br />thereto the amount required to be deposited in the Reserve <br />Account out of the proceeds of the Series 1987 Bonds and <br />such additional amounts, if any, as shall be required to be <br />applied to the Reserve Account pursuant to this Section <br />17B(3) which is attributable to the Series 1987 Bonds. The <br />Series 1987 Reserve Subnccount shall be maintained, <br />invested, reinvested and accounted for separately from the <br />remainder of the Reserve Account including any other <br />subaccounts thereunder."; <br />F. Section 2G is amended to read as follows: <br />"G. Bonds shall mean the bonds in an aggregate <br />principal amount not exceeding Twenty-five Million Dollars <br />($25,000,000) authorized to be issued hereunder together <br />with Additional Parity Obligations hereafter issued under <br />the terms, conditions and limitations contained herein."; <br />G. Section 6 is amended to read as follows: <br />"SECTION 6. AUTHORIZATION OF BONDS. Subject and <br />pursuant to the provisions of this Resolution, special <br />revenue obligations of the Issuer are hereby authorized to <br />be issued in the maximum aggregate principal amount of <br />Twenty-five Million Dollars ($25,000,000). The first <br />- 9 - <br />
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