1984-048 - Laserfiche WebLink

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Anticipation Notes, dated December 1, 1.982 (hereinafter called "Note Proceeds"). C. The Bonds shalt be payable from and secured by a prior lien upon and pledge of the Assessments. The Assessments have been 'levied against the benefited property in proportion to the special and positive benefits to be received from the acquisition and construction of the Project. D. The assessment roll heretofore prepared by the consulting engineers of the County, and the amount thereof as to each parcel assessed, does not exceed the amount by which such parcel is determined to be benefited. The Board has heretofore equalized, adjusted and confirmed the Assessments pursuant to the applicable provisions of Chapter 170, Florida Statutes (1983), and each Assessment shall be credited pro rata with the dif- ference between the amount originally confirmed and the actual cost of the Project which shall be financed through the issuance of the Bonds herein authorized. E. It is deemed necessary and desirable to pledge the Assessments to the payment of the principal of and interest or, the Bonds. F. The amount of the Assessments, as estimated, will be sufficient in the aggregate to pay the principal of and interest on the Bonds herein authorized. G. The principal of and interest on the Bonds to be issued pursuant to this resolution and all other payments herein will be paid solely from the proceeds of the Assessments to the extent that the same shall be lawfully levied and collected. The County will not be authorized to levy ad valorem taxes on any real property in the County to pay the principal of and interest on the Bonds herein authorized or to make any other payments specified by this resolution. SECTION 4. RESOLUTION TO CONSTITUTE CONTRACT. In con- sideration of the acceptance of the Bonds authorized to be issued hereunder by the Registered Owners who shall hold the same from -3-