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1980-047
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1980-047
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Last modified
2/28/2023 9:51:12 AM
Creation date
2/28/2023 9:51:08 AM
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Resolutions
Resolution Number
1980-047
Approved Date
05/21/1980
Subject
Loan Resolution required by FMA for South County Water System $5,825,900
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9. To comply with all applicable State and Federal laws and regulations and to continually operate and maintain the <br />facility in good condition. <br />10. To provide for the receipt of adequate revenues to meet the requirements of debt service, operation and maintenance, <br />and the establishment of adequate reserves. No free service or use of the facility will be permitted. <br />11. To acquire and maintain such insurance coverage including fidelity bonds as may be required by the Government. <br />12. To establish and maintain such books and records relating to the operation of the facility and its financial affairs <br />and to provide for required audit thereof in such a manner as may be required by the Government, to provide the <br />Government without its request, a copy of each such audit, and to make and forward to the Government such <br />additional information and reports as it may from time to time require. <br />13. To provide the Government at all reasonable times access to all books and records relating to the facility and <br />access to the property of the system so that the Government may ascertain that the association is complying with <br />the provisions hereof and of the instruments incident to the making or insuring of the loan. <br />14. To serve any applicant within the service area who desires service and can be feasibly and legally served, and to <br />obtain the concurrence of the Farmers Home Administration prior to refusing service to such applicant. Upon the <br />failure to provide such service wldch is feasible and legal such applicant shall have a direct right of action against <br />the association under this agreement. <br />The provisions hereof and the provisions of all instruments incident to the making or the insuring of the loan, unless otherwise <br />specifically provided by the terms of such instruments, shall be binding upon the association as long as the bonds are held <br />or insured by the Government. The provisions of sections 6 through 13 hereof may be provided for in more specific detail <br />in the bond resolution or ordinance; to the extent that the provisions contained in such bond resolution or ordinance should <br />be found to be inconsistent with the provisions hereof, these provisions shall be construed as controlling as between the <br />association and the Government. <br />The vote was: Yeas --------; Nays -------Q------- ; Absent -------Q-••-•... . <br />IN WITNESS WHEREOF, the ----------- Chaff,XZXIan---------------------------------- <br />of the <br />Board of County ... Commit_ i,QneX.S----------------------------------------- has duly adopted this Resolution and caused <br />it to be executed by the officers below in duplicate on this .. day of ------------day--• ........................... <br />(SEAL) <br />Attest: - Title Chairman <br />Board _.o f_. <br />---C671i sa Driers ---i f <br />Indian River County, Florida <br />Cl erk -------------------------------------- <br />Title --------------------------------------------__ <br />CERTIFICATION <br />I, the undersigned, as --------- Chairman ------------- of the ---- <br />Board of __County _Commissioners <br />hereby certify that the -------------- Board----------------------------------------------------------------------- of such Association is composed of <br />........-5-------- members, of whom -------------------- - constituting a quorum, were present at a meeting thereof- duly called and <br />held on the ---21-5-t-----• day of ---------MAX------------------------------- - 19 -8-Q- ; that the foregoing resolution was adopted at <br />such meeting by the vote shown above; and that said resolution has not been rescinded or amended in any way. <br />Dated, this -21St ------ ---------- day of ------ 2AY-------------------------------------------- - 19 U.— . <br />*U. S. GP0: r 97G-0-66.5-664 /2243 <br />Title------------------------ - ----------- <br />Willard W. Siebert, Jr., Chairman <br />
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