1987-144 - Laserfiche WebLink

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RISK FACTORS Tlie Pft)tes are l i,mited -t,l l rTt ions of the County - pr i ric i pA I ounty.princip+tl of the Notes will be payar,l- solely from and secured solely by a prior lien upon and plm41e of the proceeds of the sale of the Series 1986 Bonds or tti4 sale of other bond ant.ir:ipatiesn notes issued to extend and renew the indebtedness evtrlpnced by *he Notes. Tho aggregate amount of interest payable on the Notes i.,-, to be funded from moneys on deposit in the Notes ,j Payment Account of the Construction Fund. The registered owners q of the Motes my not look to the general or ary other fund of the County, the State of Florida or any political subdivision thereof. and may not compel the levying of any tax for the payment of the principal of. or interest on. the Notes_ The County intends t- ii,4zl;e the Series 1966 Bonds and sell such Bonds to FMHA to pay the principal of the Notes at maturity. It to possible than legislation will be enacted in the future which would limit the .obility of the County to issue the Serles 1986 Bonds or bond anticipation notes. In addition. the Original Resolution establialies certain conditions which must be sati*fiall in order for the County to issue the Series 1986 Bonds. as more (,ally described under "Stl0UMT OF CERTAIN PROVISIONS OF THs RMLUTIONS--Original Resolution --Issuance of Other Obligations" hvroln. If the County fails to most such conditions or is otherwi:.- unable to issue the Series 1986 Bonds or other bond antics;�ation notes. tho a :.,,tasty may not be able to repay the principal of the Notes. Moreover. although raM has issued the Commitment to l,tttchn.ae rhe Series 1986 Bonds on or prior to maturity of the note„. Ir the conditions stated in the Commitment aro not not. FmllA will not be obligated to purchase the Series 1986 Sonds. In thy* -,-tit F'ta11A does nmt purchase the Series 1966 Bonds, there is n., l � i� A I t Art t raiment t t, lkt. the County use other avai labia moneys t-, l,.ty tit., pr tncipal -t the Notes not can any assurance be given that t ftp• C:uu my would have money$ available for tmctr_h purpose or that there would be any market for the Series 194h Fronds should FmHA ti-�t•lino to purchase them. In addition. other factors may nvlverxt,-ly affect the ability of the County to successfully market the Series 1986 Bonds or bond anticipation notes. including. amonq ,ithers. general and local economic conditions, prevailing interest rates. conditions ire the municipal bond market and federal tax legislation relating; to municipal debt. Tile County intends to make investments of proceeds of the Notes on deposit in the Notes Payment Account and deposit any Parnings in much Account in the C'ORStruction Fund. The Note Resolution provides that the County is to invest moneys in the Notes Payment Account in direct obligations of, or obligations the principal of and interest on which are guaranteed by, the 18