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.4 y <br />6SOLUTION NO. 81-6 <br />A RESOLUTION AUTHORIZING 711E .ISSUANCE Ol' NOT <br />EXCEEDING $236,000 WATER AND SEWER REVENUE <br />BONDS, SECOND SERTES 1979, ANTTCIPATTON NOTES <br />® OF INDIAN RIVER COUNTY, FLORIDA; PROVIDING FOR <br />THE PAYMENT THEREOF AND ENTERING INTO CERTAIN <br />COVENANTS AND AGREEMENTS WTTH THE HOLDERS <br />THEREOF. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />S fa INDIAN RIVER COUNTY, FLORIDA ( the "Issuer") , a:; follows: <br />SECTION 1. AUTHORITY FOR RESOLUTION. This resolution <br />is adopted pursuant to Section 215.431, Florida Statutes (1980), <br />and other applicable provisions of law. <br />A. On January 4, 1979, the Issuer adopted a resolution <br />(th^ "Enabling instrument") authorizing the issuance of. $230,000 <br />Water and Sewer Revenue Bonds, Second Series 1979, of the Issuer <br />(the "Bonds"), for the purpose of payinq ,-a Dart of the cost of <br />acquiring water distribution and sewage collection and treatment <br />facilities and constructinq extensions and ir!pr-ovements thereto (the <br />"Project"). <br />B. The Bonds ay,l the coupon:; appert- a i n i n(1 thereto will Ht, <br />payable :solely from and secur- et },, a prior- 1 ir•r: upnn and pleucte fit <br />the grass revenues to he vier i v,d ley the I S Suer f rfrr: the operat i can of <br />such facilities (the "Pic -dried E'ur ':s,"} . Pf-ferr,nee i!-, made to the <br />Enal)lirig Inst;,imr.•nt: for a more corTl"lete do"cript i -)n of tht. covenalits, <br />lien:. ,:and pledge Securinq pavrrient -f the llori L: ran,] the coul+r,n., <br />appertaining thereto. <br />C. 1t: it; necessary and ru-ftent that fund!; be matte immedi:atel <br />available in order to provide momry for the commencement of the Project <br />at this time. The Tssuer mu:;t, therefore, anticipate the receipt. h`- it <br />of the proceeds to he derived from the sale of t -he Bonds, and the Issuer <br />has determined it to he in the hest interest- of tho Issuer and its <br />residents and inhabitants that: interest hearing notes of the Issuer <br />(the "Notes") he issued pursuant to this resolution in anticipation of <br />the receipt by the. Is:.uer of the proceed . from the sale of the Bondsi. <br />'Che principal of and interest on ti -.e Notes will ht., payable solely from <br />