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1977-110
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1977-110
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Last modified
1/30/2023 10:25:08 AM
Creation date
1/30/2023 10:24:28 AM
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Resolutions
Resolution Number
1977-110
Approved Date
11/02/1977
Resolution Type
Issuance of Bonds
Subject
Solid Waste Disposal System & Issuance of Bonds
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limitations contained in subsection 15R hereof which have an equal <br />lien on the Net Revenues, as herein defined, and rank equally in all <br />respects with such Obligations initially issued hereunder as to lien <br />on and security for payment from such Net Revenues. <br />F. "Facilities" shall mean the complete solid waste <br />disposal system to be owned, operated and maintained by the Issuer, <br />together with any and all improvements, extensions and additions <br />thereto hereafter constructed or acquired. <br />G. "Gross Revenues" or "Revenues" shall mean all income <br />or earnings, including any income from the investment of funds unless <br />otherwise provided herein, derived by the Issuer from the operation <br />of. the Facilities. <br />H. "Cost of operation and maintenance" of the Facilities <br />shall. mean the current expenses, paid or accrued, of operation, <br />maintenance and repair of the Facilities, as calculated in accordance <br />with sound accounting practice, but shall not include any reserves <br />for renewals and replacements, extraordinary repairs or any allowance <br />for renewals, replacements and depreciation. <br />I. "Net Revenues" of the Facilities shall mean the Revenues <br />or Gross Revenues, as defined in subsection G above, after deduction <br />of. the Cost of Operation and Maintenance, as defined in subsection If <br />above. <br />J. "Consulting Engineers" shall mean such qualified and <br />recognized consulting engineers, having a nationwide and favorable <br />repute for skill and experience in the construction and operation of <br />such Facilities at the time retained by the Issuer to perform the <br />acts and carry out the duties as herein provided for such Consulting <br />Engineers. <br />K. "Revenue Sharing Trust Funds" shall mean the "guaranteed <br />entitlement" portion of such funds as defined in, and which are <br />payable to the Issuer under, Chapter 218, Part II, Florida Statutes. <br />L. "Authorized Investments" shall mean direct obligations <br />of the United States of America, obligations unconditionally guaranteed <br />by the United States of America or time deposits represented by <br />Certificates of Deposit fully secured in the manner provided by the <br />laws of the State of Florida. <br />
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