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1982-061
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1982-061
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Last modified
3/13/2023 1:49:43 PM
Creation date
3/13/2023 1:49:15 PM
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Resolutions
Resolution Number
1982-061
Approved Date
07/07/1982
Subject
Adopterd Resolution combining all water and/or sewer systems of IRC into one integrated system
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SII► i � �, �� � � _ <br />Operating Expenses. The Bonds and the Notes shall not constitute <br />a lien upon the System or any other property of the Issuer or <br />situated within its corporate territorial limits. <br />.1.04 Water and Sewer Facilities Combined_. All the <br />water and/or sewer facilities of the Issuer are hereby combined <br />into one integrated water and sewer facility, herein described as <br />the System. <br />ARTICLE II <br />AUTHORIZATION, TERMS, EXECUTION AND <br />REGISTRATION OF BONDS <br />2.01. Incorporation of Prior Provisions. All provisions <br />in the resolutions authorizing the Bonds and the Notes with <br />respect to the authorization, terms, execution, registration and <br />form of the Bonds and the Notes are hereby incorporated herein by <br />reference. <br />ARTICLE III <br />COVENANTS, SPECIAL FUNDS <br />AND APPLICATION THEREOF <br />3.01 Bonds Not to Be Indebtedness of Issuer. Neither <br />the Bonds, nor the Notes, nor the coupons attached thereto shall <br />be or constitute general obligations or an indebtedness of the <br />Issuer as "bonds" within the meaning of Art. VII, §12, Fla. Const. <br />(1968), but shall be payable from and secured by a lien upon and <br />pledge of the Gross Revenues as herein provided, and, with re- <br />spect to the Notes, shall be additionally secured as provided <br />in the resolution authorizing the issuance of the Notes. No <br />owner Dr holder of any Bond or Note, or coupon appertaining <br />thereto, shall ever have the right to compel the exercise of any <br />ad valorem taxing power to pay such Bond, Note or coupon or <br />Operating Expenses, or be entitled to payment of such Bond, Note <br />or coupon from any money of the Issuer except from the Gross <br />Revenues or other funds of the Issuer in the manner provided <br />herein and in the resolution authorizing the issuance of the <br />Notes. <br />3.02 Security for Bonds and Notes. The payment of the <br />principal. of and interest on the Bonds and the Notes shalt he <br />secured as provided in the resolutions authorizing their <br />issuance; provided, however, that all references in such resolu- <br />tions to the "System" and the "Gross Revenues" shill be deemed to <br />mean the System and the Gross Revenues, respectively, as defined <br />-6- <br />
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