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1986-036
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1986-036
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Last modified
5/18/2023 10:50:51 AM
Creation date
5/18/2023 10:49:46 AM
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Resolutions
Resolution Number
1986-036
Approved Date
06/18/1986
Subject
Authorizing issuance of not exceeding $9,200,000 W&S Revenue Bonds, Series 1986
Anticipation notes of IRC; providing for the payment thereof & security thereof
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• <br />Ar <br />construction; engineering and legal expenses; fiscal expenses; expenses for <br />estimates of costs and of revenues; expenses for plans, specifications and <br />surveys; interest during construction; reasonable reserves for debt service on <br />the Bonds; municipal bond insurance premiums; repayment of interim financing <br />with respect to the Project; and administrative expenses related solely to the <br />acquisition and construction of the Project. <br />"Government" means the United States of America, acting through the <br />Fanners Ham; Administration, United States Department of Agriculture. <br />"Holder" means any Person who shall be the Registered O ler of any <br />Outstanding Note or the properly qualified legal representative thereof. <br />"Issuer" means Indian River County, Florida. <br />"Loan Comnitment" means collectively, a letter to be delivered by the <br />Government to the purchaser, and the letters of conditions, dated July 2, 1985, <br />and November A, 1985, from the Government to the Issuer, and related Government <br />documents, with respect to a loan from the Government to the Issuer, in the <br />aggregate principal amount not to exceed $9,200,000. <br />"Notes Payment Account" means the special account created within the <br />Construction Fund. <br />"Outstanding" means, with reference to Notes, as of any particular <br />time, all the Notes executed, authenticated, issued and delivered under this <br />Resolution; Provided, however, that such shall not include, in any case: <br />A. Notes cancelled at or prior to such time; <br />Q. Notes for payment of which funds shall have been deposited <br />with the Paying Agent and which shall have matured by their express <br />terms but which shall not have been surrendered for payment; <br />C. Notes in substitution for which other Notes shall have been <br />authenticated and delivered pursuant to provisions hereof; <br />-2- <br />
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