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2024-023
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Last modified
6/7/2024 12:34:02 PM
Creation date
6/7/2024 12:29:12 PM
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Resolutions
Resolution Number
2024-023
Approved Date
06/04/2024
Agenda Item Number
8.K.
Resolution Type
Supplementing Resolution 2023-004
General Obligaton Bond
Entity Name
Indian River County
Subject
General Obligations Bond Preserving Environmentally Sensitive Lands
Authorizing the issuance of not exceeding $25,000,000 in aggregate principal
amount of Indian River County, Florida
Document Relationships
2023-004
(Agenda)
Path:
\Resolutions\2020's\2023
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Registrar duly executed and guaranteed by the Holder or such Holder's duly authorized <br />attorney. Upon the registration or transfer of any such Series 2024 Bond, the County shall <br />issue, and cause to be authenticated, in the name of the transferee a new Series 2024 Bond <br />or Series 2024 Bonds of the same aggregate principal amount, maturity and series as the <br />surrendered Series 2024 Bond. The County, the Registrar and any Paying Agent or <br />fiduciary of the County may deem and treat the Person in whose name any outstanding <br />Series 2024 Bond shall be registered upon the books of the County as the absolute owner <br />of such Series 2024 Bond, whether such Series 2024 Bond shall be overdue or not, for the <br />purpose of receiving payment of, or on account of, the principal or Redemption Price, if <br />applicable, and interest on such Series 2024 Bond and for all other purposes, and all such <br />payments so made to any such Holder or upon such Holder's order shall be valid and <br />effectual to satisfy and discharge the liability upon such Series 2024 Bond to the extent of <br />the sum or sums so paid and neither the County nor the Registrar nor any Paying Agent or <br />other fiduciary of the County shall be affected by any notice to the contrary. <br />In all cases in which the privilege of exchanging Series 2024 Bonds or transferring <br />Series 2024 Bonds is exercised, the County shall execute and the Registrar shall <br />authenticate and deliver such Series 2024 Bonds in accordance with the provisions of the <br />Bond Resolution. Execution of Series 2024 Bonds in the same manner as is provided in <br />the Bond Resolution for purposes of exchanging, replacing or transferring Series 2024 <br />Bonds may occur at the time of the original delivery of the Series 2024 Bonds. All Series <br />2024 Bonds surrendered in any such exchanges or transfers shall be held by the Registrar <br />in safekeeping until directed by the County to be canceled by the Registrar. For every such <br />exchange or transfer of Series 2024 Bonds, the County or the Registrar may make a charge <br />sufficient to reimburse it for any tax, fee, expense or other governmental charge required <br />to be paid with respect to such exchange or transfer. The County and the Registrar shall <br />not be obligated to make any such exchange or transfer of Series 2024 Bonds during the <br />fifteen (15) days next preceding an Interest Date on the Series 2024 Bonds, or, in the case <br />of any proposed redemption of Series 2024 Bonds, then, for the Series 2024 Bonds subject <br />to redemption, during the fifteen (15) days next preceding the date of the first mailing of <br />notice of such redemption and continuing until such redemption date. <br />Redemption Provisions <br />Optional Redemption of Series 2024 Bonds. The Series 2024 Bonds maturing on or <br />before July 1, 20_ are not subject to optional redemption prior to maturity. The Series <br />2024 Bonds maturing on or after July 1, 20_ are subject to redemption prior to their stated <br />dates of maturity at the option of the County in whole or in part on any date on or after <br />July 1, 20_, and if in part, from such maturities as the County shall designate, at the <br />Redemption Price of par plus accrued interest to the redemption date. <br />Mandatory Redemption of Series 2024 Bonds. The Series 2024 Bonds maturing on <br />July 1, 20_ are subject to mandatory sinking fund redemption prior to maturity, by lot, in <br />such manner as the Registrar deems appropriate, at a Redemption Price equal to principal <br />10 <br />
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