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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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SECTION 8. NEGOTIABILITY. The Bonds issued hereunder <br />40 shall be and shall have all of the qualities and incidents of <br />negotiable instruments under the laws of the State of Florida, <br />® and each successive holder, in accepting any of the Bonds, shall <br />,be conclusively deemed to have agreed that such Bonds shall be <br />and shall have all of the qualities and incidents of negotiable <br />instruments under the laws of the State of Florida. <br />e • SECTION 9. REGISTRATION. The Bond Registrar shall be <br />appointed prior to the delivery of the Bonds. All Bonds pre- <br />sented.for transfer, exchange, redemption or payment (if so <br />required by the Issuer or the Bond Registrar) shall be accom- <br />panied by a written instrument or instruments of transfer or <br />authorization for exchange, in form and with guaranty of signa- <br />ture satisfactory to the Issuer or the Bond Registrar, duly exe- <br />cuted by the Registered Owner or by his duly authorized attorney. <br />Upon surrender to the Bond Registrar for transfer or <br />exchange of any Bond accompanied by an assignment or written <br />authorization for exchange, whichever is applicable, duly exe- <br />cuted by the Registered Owner or his attorney duly authorized in <br />writing, the Bond Registrar shall deliver in the name of the <br />Registered Owner or the transferee or transferees, as the case <br />may be, a new fully registered Bond or Bonds of authorized <br />denominations and of the same maturity and interest rate for the <br />aggregate principal amount which the Registered Owner is entitled <br />to receive. <br />The Issuer and the Bond Registrar may charge the <br />Registered Owner a sum sufficient to reimburse them for any <br />expenses incurred in making any exchange or transfer after the <br />first such exchange or transfer following the delivery of the <br />Bonds. The Bond Registrar or the Issuer may also require <br />payment from the Registered Owner or his transferee, as the case <br />may be, of a sum sufficient to cover any tax, fee or other <br />governmental charge that may be imposed in relation thereto. <br />Such charges and expenses shall be paid before any such new Bond <br />-9- <br />
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