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RESOLUTIO14 NO. 78-89 <br />A RESOLUTION PROVIDING FOR THF. ISSUANCE OF <br />REVENUE AND GENERAL OBLIGATION NOTES OF <br />INDIAN RIVER COUNTY, FLORIDA, NOT TO EXCEED <br />$235,000 TO PAY THE COST OF ADVANCING FUNDS <br />FOR THE ACQUISITION OF A WATER SYSTEM; <br />PLEDGING REVENUES OF THE PROJECT AND AD <br />VALOREM TAXES FOR REPA.YPIENT THEREOF AND <br />CONTAINING OTHER PROVISIONS RELA:TING TO <br />THE NOTES; PROVIDING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA (hereinafter called "Board") that: <br />SECTION 1. AUTHORITY FOR RESOLUTION. This resolution <br />is adopted pursuant to the provisions of Section 125.01, Florida <br />Statutes, Chapter 159i Part I, FlOridc <br />Statutes, and other applicable <br />pro': _.~ions Of law. <br />SrCTIOIr 2, r Lj D<<;GS.It _s hereat found, deft <br />_rained <br />and d�:clare,-, as fr,llows, that: <br />r:. Tt :... ii�C' �5� , O_ _'S_r2�'tla, E;1� _n the best � <br />" .:n4£reS.. <br />Of In:al?n .r''.:.'c' �O'!a,ty, l0r; a (hereinafter cailP_d "COL'n''},"), GnC <br />its inhabitantn ".,,at :eVeriue an-- general Obl Cation notes in all <br />amount not exceeding :235,000.00 be issued to .;ad, ancf? funds for <br />th(: acquisition O: the water system serving app=Koxinatel%, 1,100 <br />[:t1';tOmerS, rtT'r•snn' IJ• r)'r:ni'CZ� .'^,+,,'3-'lOrlild F.ftillX_LC:a, Inc. <br />(herein <br />Called "Prc)ject.") . <br />B. Such ri2'1cnt.:e:, dl' <br />. .__ oma^ _ _:.orl no_'.5 together <br />W1, h all o`_hR'r ou'tanding general ob iCa tio.4 bonded ind--btedness <br />Of the COunt�' 4'_ 1 1 _ exceed a: for <br />SECTIO?: SOLC:20:: TD CON*271T'UTE CONTRACT. Ire Con -- <br />L i6te--aticn, <br />on-£i6te--atien Of th°v accepta: c;-. of .he notes aut',-r;.zed to h}-, <br />hereunder by thOsse who shall;a sa <br />iG, _=0..^: time to tllii^, this <br />re--olutiOn shall !`e deemed' to be and shall constitute a contract <br />between the Count% and such holders. The covenants and agreei�ents <br />herein set forth to beiperformed by th._ County shall be for the <br />equal benefit, protection and security of the legal holders of any <br />and all of such Notes, all of which shall be of equal rank and <br />without preference, priority or distinction of any of the Notes <br />over any other thereof, except as expressly provided therein and <br />herein. <br />