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1986-009
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Last modified
5/5/2023 2:18:24 PM
Creation date
5/5/2023 2:18:13 PM
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Resolutions
Resolution Number
1986-009
Approved Date
02/19/1986
Subject
(Loan Resolution) Authorizing and providing for the incurrence of indebtedness for the purpose of
providing a portion of the cost of acquiring, constructuring, enlarging, improving and/or
extending its combined water & sewer system facility to serve an area lawfully within its
juridiction to serve
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•• <br />13. To provide the Government at all reasonable times access to all books and records relating to the facility and access to <br />the property of the system so that the Government may ascertain that the association is complying with the provisions <br />hereof and of the instruments incident to the making or insuring of the loan. <br />14. In cases where the Government requires that a reserve account be established and maintained, when necessary, disburse- <br />ments from the reserve account may be used for payments due on the bond if sufficient funds are not available in the <br />general or debt service accounts. With the prior written approval of the Government, funds may be withdrawn for: <br />(a) Paying the cost of repairing or replacing any damage to the facility which may have been caused by catastrophe. <br />(b) Repairing or replacing short-lived assets. <br />(c) Making extensions or improvements to the facility. <br />Any time funds are disbursed from the reserve account, additional deposits will be required until the reserve account has <br />reached the required funded level. <br />15. To provide adequate service to all persons within the service area who can feasibly and legally be served and to obtain <br />FnitIA's concurrence prior to refusing new or adequate services to such persons. Upon failure to provide services which <br />are feasible and legal, such person shall have a direct right of action against the association or public body. <br />16. In the case of a grant in the sum not to exceed 5 -C' , the association <br />hereby accepts the grant under the terms as offered by the Government and that the r <br />and of the association are hereby authorized and empowered to take all action necessary <br />or appropriate in the execution of all written instruments as may be required in regard to or as evidence of such grant and <br />the association hereby resolves to operate the facility under the terms as offered in said grant agreement(s). <br />The provisions hereof and the provisions of all instruments incident to the making or the insuring of the loan, unless otherwise <br />specifically provided by the terms of such instrument, shall be binding upon the association as long as the bonds are held or <br />insured by the Government, The provisions of sections 6 through 15 hereof may be provided for in more specific detail in the <br />bond resolution or ordinance; to the extent that the provisions contained in such bond resolution or ordinance should be found <br />to be inconsistent with the provisions hereof, these provisions shall be construed as controlling as between the association and <br />the Government. <br />The vote was: Yeas 5 Nays 0 Absent 0 <br />IN WITNESS WHEREOF, the Board of Commissioners of the <br />County of Indian River has duly adopted this Resolution and caused <br />to be executed by the offiduplicate on this :a <br />T <br />oo <br />anr1 : >ulfi!ieiicy <br />14Q11- ) <br />(SEAL) ,:J 111y <br />t i;ari:, P.'/itunrrr, <br />Attest: County I'tiurnay <br />niZ'�CS`.°1`-• 6FtlxE'DrAISs-..1nc�. <br />19th day of February 1986 <br />Count of Indian River <br />By <br />Title Chairman of the Bor►rd County Couunissioners <br />Title _Clerk of the Board of County Commissioners <br />CF,RTIFICATION <br />1, the undersigned, as - Clerk of the County of Indian River -- <br />hereby <br />verhereby certify that the - Board of County Commissioners of such Association is composed of <br />five members, of whom five , constituting a quorum, were present at a meeting thereof duly called and <br />held on the 19th da of February 86 <br />Y Y , 19 that the foregoing resolution was adopted at such meeting <br />by the vote shown above; and that said resolution has not been rescinded or amended in au; way: <br />Dated, this day of February 19 86 <br />- ��• (SCJ <br />it US. Government Printing of I ice1984-564-008111546 Title Clerk of the Board of Count <br />Conuniss oners <br />
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