My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1985-078
CBCC
>
Resolutions
>
1980'S
>
1985
>
1985-078
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/1/2023 3:43:31 PM
Creation date
5/1/2023 3:42:57 PM
Metadata
Fields
Template:
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
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
34
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
preceding sentence, the deposit of Federal Securities in irrevo- <br />® cable trust with a banking institution or trust company, for the <br />sole benefit of the Registered Owners of such Bonds, in an amount <br />• such that the principal of and interest on such Federal <br />Securities will be sufficient to pay when due the principal, <br />interest and redemption premiums, if any, on such outstanding <br />Bonds, shall be considered "provision for payment." Nothing <br />of herein shall be deemed to require the Issuer to call any of such <br />outstanding Bonds for redemption prior to maturity pursuant to <br />any applicable optional redemption provisions, or to impair the <br />discretion of the Issuer in determining whether to exercise any <br />such option for early redemption. <br />SECTION 19. SALE OF BONDS. The Bonds shall be sold and <br />issued in such manner and at such price o_ prices consistent with <br />the provisions of the Act and this resolution as shall be deter- <br />mined by subsequent resolution of the Board adopted prior to such <br />sale and issuance, respectively; provided, however, that no Bonds <br />shall be sold or delivered until the Outstanding Obligations <br />shall have been advance refunded. <br />SECTION 20. VALIDATION AUTHORIZED. The Attorney for <br />the Issuer is hereby authorized, at his option, to institute pro- <br />ceedings in the Circuit Court for Indian River County, Florida, <br />for the validation of the Bonds. <br />SECTION 21. MODIFICATION OR AMENDMENT. No material <br />modification or amendment of this resolution or of any resolution <br />amendatory hereof or supplemental hereto, may be made without the <br />consent in writing of the Registered Owners of 51% or more in <br />aggregate principal amount of the Bonds then outstanding, or the <br />Registered Owners of all the Bonds to be affected by such modifi- <br />cation or amendment; provided, however, that no modification or <br />amendment shall permit a change in the maturity of such Bonds or <br />a reduction in the rate of interest thereon or in the amount of <br />the principal obligation, or affect the unconditional promise of <br />the Issuer to pay the principal of and interest on the Bonds as <br />-32- <br />
The URL can be used to link to this page
Your browser does not support the video tag.