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1984-036
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1984-036
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Last modified
4/18/2023 2:31:50 PM
Creation date
4/18/2023 2:31:16 PM
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Resolutions
Resolution Number
1984-036
Approved Date
05/23/1984
Subject
Authorizing ther issuance o $1,000,000 Capital Improvement Revenue Bonds (junior Lien)
for the same purpose & authorized validation of same with understanding that no further action
in connection with the actual refinancing will be taken without first coming to the commission
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40 <br />®® <br />such other reasonable regulations and conditions as the County may <br />prescribe and paying such expense as the County and Bond Registrar <br />may incur. All Bonds so surrendered shall be cancelled by the <br />Bond Registrar. If any such Bond shall have matured or be about to <br />mature, instead of issuing a substitute Bond, the County may pay the <br />same, upon being indemnified as aforesaid, and if such Bond be lost, <br />stolen or destroyed, without surrender thereof. <br />Any such duplicate Bonds issued pursuant to this Section <br />shall constitute original, additional, contractual obligations on <br />the part of the County, whether or not the lost, stolen or <br />destroyed Bonds be at any time found by anyone and such duplicate <br />Bonds shall be entitled to equal and proportionate benefits and <br />rights as to lien, source and security for payment, pursuant to <br />this Resolution, from the funds, as hereinafter pledged, to the <br />same extent as all other Bonds issued under this Resolution. <br />SECTION 13. PROVISIONS FOR RED8MPTION. The Bonds or any <br />portions thereof shall be subject to redemption prior to their <br />respective stated dates of maturity, at the option of the County, <br />at such times and in such manner as shall be determined by sub- <br />sequent resolution prior to the sale thereof. <br />Notice of such redemption shall, at least thirty (30) days <br />prior to the redemption date (i) be filed with the paying agents, <br />and (ii) be mailed, postage prepaid, to all owners of Bonds to be <br />redeemed at their addresses as they appear of record on the books <br />of the Bond Registrar as of forty-five (45) days prior to the <br />date of redemption. Interest shall cease to accrue on any Bond <br />duly called for prior redemption on the redemption date, if <br />payment thereof has been duly provided. The privilege of <br />transfer or exchange of any of the Bonds is suspended for a fif- <br />teen day period preceding the mailing of the notice of <br />redemption. <br />SECTION 14. FORM OF BONDS. The text of the Bonds, <br />together with the validation certificate and the Bond Registrar's <br />Certificate to be endorsed thereon, shall be substantially of the <br />-12- <br />
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