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4.50. Section 15, beginning on page 17, shall be modified by:
<br />(A) deleting, in Section 15.A., the words "with Florida
<br />National Bank, Vero Beach, Florida,";
<br />(B) deleting 11(1983)" from the sixth (6th) line of the
<br />second (2nd) paragraph of Section 15.A.2.,
<br />beginning on page 18, and substituting 11(1987)" in
<br />its place;
<br />(C) (i) inserting, after the words "issuance of the
<br />Bonds" appearing in the fourth (4th) line of
<br />Section 15.1., beginning on page 21, the words "or
<br />the 1988 Closing Date, as the case may be," (ii)
<br />inserting, after the word "Code" appearing in the
<br />fifth (5th) line of Section 15.I., the words "of
<br />1954 or 1986, as the case may be, as amended and
<br />supplemented (referred to herein as the "Internal
<br />Revenue Code" or the "Code")", (iii) inserting,
<br />after "Section 103(c)" appearing in the seventh
<br />(7th) line of such Section 15.I., the words "or
<br />Sections 103(b) and 148, as the case may be", and
<br />(iv) inserting at the end of such Section, after
<br />the word "Service", the following:
<br />"The County will comply with all requirements of
<br />applicable provisions of the Code, including,
<br />without limitation, the applicable provisions of
<br />Section 1.103-13, 1.103-14 and 1.103-15 of the
<br />applicable regulations heretofore published in the
<br />Federal Register and with the applicable provisions
<br />of any other regulations hereafter published."
<br />4.60. Section 2, beginning on page 1, shall be amended by adding
<br />thereto the capitalized terms that are defined in the 1988 Amending Resolution.
<br />ARTICLE 5 AUTHORIZATION AND CONSUMMATION OF THE 1988 TRANSACTION.
<br />The 1988 Transaction is hereby authorized. The Chairman and Ex -Officio Clerk of
<br />the Board and the proper officers of the County are hereby authorized and
<br />instructed by the Board to enter into, execute, seal and deliver, on behalf of
<br />the County, such documents, certificates and agreements as are approved by Bond
<br />Counsel and are required in connection with the negotiation, commitment and
<br />consummation of the 1988 Transaction including, but not limited to, the
<br />Commitment, Bonds and the Closing Documents.
<br />ARTICLE 6 DELIVERY OF BONDS. The County hereby acknowledges and
<br />agrees with the Purchaser that the County will cause to be delivered to the
<br />Purchaser, upon receipt of all outstanding Bonds, as originally issued, Bonds
<br />reflecting the modifications and amendments made by the 1988 Amending Resolution,
<br />in substantially the same form and substance as set forth in the 1988 Amending
<br />Resolution.
<br />ARTICLE 7 SEVERABILITY OF INVALID PROVISIONS. If any one or more of
<br />the provisions herein contained shall be held contrary to any express provision
<br />of law or contrary to the policy of express law, though not expressly
<br />prohibited, or against public policy, or shall for any reason whatsoever be held
<br />invalid, then such provisions shall be null and void and shall be deemed
<br />separable from the remaining provisions and shall in no way affect the validity
<br />of any of the other provisions hereof.
<br />ARTICLE 8 REPEALING CLAUSE. Any and all prior resolutions and other
<br />actions of the Board, or parts thereof, in conflict with the provisions herein
<br />contained are, to the extent of such conflict, hereby superseded and repealed.
<br />ARTICLE 9 EFFECTIVE DATE. This Resolution shall take effect
<br />immediately upon its adoption.
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