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1988-037
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1988-037
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Last modified
9/6/2022 10:51:02 AM
Creation date
9/2/2022 10:34:01 AM
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Template:
Resolutions
Resolution Number
1988-037
Approved Date
05/31/1988
Subject
Provide - retirement of SWDD Revenue Bonds, Series 1977
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q <br />any substantial portion of the County Solid Waste Disposal System until <br />there shall have been set apart in the "Sinking Fund", as defined in and <br />established under the 1977 Bond Resolution, including the "Reserve <br />Account" established therein (the "Sinking Fund"), a sum sufficient to pay <br />when due the entire principal of the 1977 Bonds remaining unpaid, together <br />with interest accrued or to accrue thereon; and <br />WHEREAS, The County desires to provide for payment of the <br />principal of the unpaid 1977 Bonds when due, together with interest <br />accrued or to accrue thereon to the respective dates of maturity thereof, <br />such that the lien on the "Net Revenues", as that term is defined in the <br />1977 Bond Resolution, shall be satisfied and the County Solid Waste <br />Disposal System may thereupon be leased to the District for operation and <br />use; and <br />WHEREAS, The County desires to make provision for sums deposited <br />in the Sinking Fund created under the 1977 Bond Resolution to pay the 1977 <br />Bonds to be held in escrow for the benefit of the holders of the 1977 <br />Bonds and desires to authorize and approve the form of the lease of the <br />County Solid Waste Disposal System to be entered into with the District; <br />and <br />WHEREAS, The County desires to provide for certain matters <br />related to the foregoing. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br />- 3 - <br />
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