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1985-078
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1985-078
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Last modified
5/1/2023 3:43:31 PM
Creation date
5/1/2023 3:42:57 PM
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Resolutions
Resolution Number
1985-078
Approved Date
07/17/1985
Subject
Authorizing the issuance of not exceeding $4,200,000 recreational revenue bonds,
Series 1985, to finance the cost thereof; providing for payment of the principal & interest
on such bonds form the net revenues to be derived from the operation of the Golf Course
Racetrack Funds & Jai Alai Fronton Funds accuring annually to IRC
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4. e <br />to rates, fees, rentals and other charges for the use of the Project <br />so as to always provide in each year gross revenues sufficient to <br />® pay 100% of all costs of operation and maintenance of the Project <br />in such"year, all Bond Service Requirements (as defined in the <br />Resolution) coming due in such year on the bonds and all reserve <br />or other payments specified in the Resolution. The County has <br />• • entered into certain further covenants with the registered owners <br />of the bonds of this issue for the terms of which reference is <br />made to the Resolution. <br />(To be inserted where appropriate on face of bond: <br />"Reference is hereby made to the further provisions of this bond <br />set forth on the reverse side hereof, and such further provisions <br />shall for all purposes have the same effoQt as if set forth on <br />this side.") <br />This bond may be transferred only upon the books of the <br />County kept by the Bond Registrar upon surrender hereof at the <br />principal office of the Bond Registrar with an assignment duly <br />executed by the registered owner or his duly authorized attorney, <br />but only in the manner, subject to the limitations and upon <br />payment of the charges, if any, provided in the Resolution, and <br />upon surrender and cancellation of this bond. Upon any such <br />transfer, there shall be executed and the Bond Registrar shall <br />deliver, a new fully registered bond or bonds, payable to the <br />transferee, in authorized denominations and in the same aggreqate <br />principal amount, series, maturity and interest rate as this <br />bond. <br />In like manner, subject to and upon the payment of such <br />charges, if any, the registered owner of this bond may surrender <br />the same (together with a written authorization for exchange <br />satisfactory to the Bond Registrar duly executed by the regis- <br />tered owner or his duly authorized attorney) in exchange for an <br />equal aggregate principal amount of fully registered bonds in <br />authorized denominations and of the same series, maturity and <br />-15- <br />
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