1987-144 - Laserfiche WebLink

Home Browse Search

issued to extend and renew the indebtedness evidenced by the Notes. Interest on the Notes In a limited obligation of the County payable solely from a portion of the proceeds of the sale of the Notes deposited with Florida National Bank, St. Paternhurg, Florida, as payin=I agent for tine Notes (the "Paying Ag9nt") in the Notes Payment Account e:;talslished under the Lsond Renollit. ton. 1. Purchase L Sale and Good Faith Deposit. (a) Upon ttse terms and ion condits and upon the basics of the representations and warranties contained herein, the Underwriters hereby Agree to purchase fears the County. and thn County hereby agrees to sell to the Underwrit.„r , the Nnten for the purchase price rstt forkh in Schedule I to thirt Piste Purchase Agreement, Plus ar:r:rlrnri interest from Ie-vrsiser 1, Igo-) to the date of Ctonitsq (•+n rleflned here.ln), (b) The Notes are descrihf!d in thn Offir.ial :;tat�nent, and rrtr!Ll I be issued acid secured under aril pursuant to, (1) the U.'onntAttst.inn and laws of thq State of Florida (tire tncludlnq Sar.tion 7.15.431, `'lot -1,14 Statutes, and other applicable provisions of lacy (t-hn "A,_r:•"), on -1 (11) the Note Resolution, in Alit Iclp>ition of. thn L---nipt by the County of the proceeds from the sal" nC its erlr.s 1906 Bonds expected to be purchased by the United `,;t:atea Department of Agriculture, Barmere Norse Adminintrht.lon (the "Facile") pursuant to conditional cotmaitmprst lett"'++ dated July 2. 1985 and November 4, 1485, respectively, as supplemented by a letter of instructions dater! April 20, 1987. (c) The Note3 are being issued to (1) finance, on an Interim basis, a portion of the cost of certain additions, extennions and improvements (tho "Pro)ect") to the County's water arid sewer eyotem (thn "System,,). (it) pay interest on the dotes to maturity, arid MI) pay cnrtain costs incurred in connection with issuance of thn Notes. Rinds necessary to complete construction of the Project will be provided by the County from other sources. For the purpose of subrsection (c)(Sii) above, costs of issuance of the Notes include the costs of preparing and reproducing the Notes, the Note Resolution and any other related legislative actions of the County and the Official Statement; the fees and disbursements of bond counsel; financial advisor fees; and fees of any accountants, engineers and other connultanto, advisers or agents retained by the County. (d) If the County shall be unable to satisfy any of the conditions to the obligations of the Underwriters contained in this Note Purchase Agreement and such condition is not waived by the Underwriters, or if the obligation's of the Underwriters to purchase and accept delivery of the Notes shall be terminated or