2023-004 - Laserfiche WebLink

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"Taxable Bonds" shall mean any Bonds which state, in the body thereof, that the interest income thereon is includable in the gross income of the Holder thereof for federal income taxation purposes or that such interest is subject to federal income taxation. "Term Bonds" shall mean Bonds which shall be designated as or authorized to be Term Bonds by this Resolution or Supplemental Resolution of the Issuer and which are subject to mandatory redemption by Amortization Installment. "Variable Rate Bonds" shall mean Bonds issued with a variable, adjustable, convertible or other similar rate which is not fixed in percentage for the entire term thereof at the date of issue. The terms "herein," "hereunder," "hereby," "hereto," "hereof," and any similar terms, shall refer to this Resolution; the term "heretofore" shall mean before the date of adoption of this Resolution; and the term "hereafter" shall mean after the date of adoption of this Resolution. Words importing the masculine gender include every other gender. Words importing the singular number include the plural number, and vice versa. SECTION 1.02. AUTHORITY FOR RESOLUTION. This Resolution is adopted pursuant to the provisions of the Act. SECTION 1.03. RESOLUTION TO CONSTITUTE CONTRACT. In consideration of the purchase and acceptance of any or all of the Bonds by those who shall hold the same from time to time, the provisions of this Resolution shall be a part of the contract of the Issuer with the Holders of the Bonds and the Credit Facility Providers and shall be deemed to be and shall constitute a contract between the Issuer and the Holders from time to time of the Bonds and the Credit Facility Providers. The pledge made in this Resolution and the provisions, covenants and agreements herein set forth to be performed by or on behalf of the Issuer shall be for the equal benefit, protection and security of the Holders of any and all of said Bonds and for the benefit, protection and security of the Credit Facility Providers. All of the Bonds, regardless of the time or times of their issuance or maturity, shall be of equal rank without preference, priority or distinction of any of the Bonds over any other thereof except as expressly provided in or pursuant to this Resolution. SECTION 1.04. FINDINGS. It is hereby ascertained, determined and declared: (A) Pursuant to the Referendum Resolution, the Issuer ordered the holding of a bond referendum election as part of the general election scheduled for November 8, 2022, to determine if the qualified electors of the Issuer would approve the issuance of not exceeding $50,000,000 aggregate principal amount of general obligation bonds payable from an ad valorem tax to be levied on all taxable property within the Issuer for the principal purpose of financing the acquisition by the Issuer of environmentally significant lands to restore the Indian River Lagoon, protect water resources and/or drinking water sources, wildlife habitat and natural areas, by purchasing permanent interests in lands to accomplish the same, including, but not limited to, fee simple interest, less than fee simple interest, conservation easements, and the acquisition of other similar interests in lands to restore the Indian River Lagoon and protect water resources and/or 7