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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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f <br />l <br />B. A portion of the Bond proceeds: shall be deposited in the Project Fund. The Issuer i <br />covenants and agrees to establish a separate account within the Project Fund- to be known as the <br />"Indian River County, Florida General Obligation Bonds, Series 2024 Project Account" (hereinafter <br />referred to as the "2024 Project Account") which shall be used.only for the payment of the cost of <br />the Project. Moneys in the 2024 Project Account until applied 'in payment ofany.itqnn o f the cost of <br />the Project, shall be held in trust by the Issuer and shall be subject to a lien and charge in favor of the <br />Holders of the Bonds, and for the further security of such Holders. <br />C. To the extent not paid by the original purchaser of the Bonds, the Issuer shall pay all <br />costs and expenses in connection with the issuance, sale and delivery of the Bonds. <br />SECTION 7. CONTINUING DISCLOSURE CERTIFICATE. In order to enable the <br />Underwriter to comply with the provisions of the Rule relating to secondary market disclosure, the <br />County Administrator is hereby authorized and directed to execute and deliver the Continuing <br />Disclosure Certificate in the name and on behalf of the County substantially. in the form attached <br />hereto as Exhibit D, with such changes, amendments, omissions and additions as shall be approved <br />by the Chairman, her execution and delivery thereof being conclusive evidence of suchapproval. <br />SECTION & APPOINTMENT OF REGISTRAR AND PAYING AGENT. U.S. Bank <br />Trust Company, National Association, Jacksonville, Florida, is hereby designated Registrar and <br />Paying Agent for the Bonds. The Chairman and the Clerk are hereby authorized to enter, into any <br />agreement which may be necessary to effect the transactions. contemplated by this Section 7. <br />SECTION 9. GENERAL AUTHORITY. - The: members of the Board of the County <br />Commission and the officers, attorneys and other agents or employees of the County are hereby <br />authorized to do all acts and things required of them by this.Supplemental Resolution orthe Original <br />Resolution, or desirable or consistent with the requirements hereof or, the Original Resolution, <br />including the execution of such documents necessary to establish a book -entry system of registration <br />with respect to the Bonds; for the full punctual and complete performance hereof or thereof. Each <br />member, employee, attorney and officer of the County is hereby authorized and directed to execute <br />and deliver any and all papers and instruments. and to be and cause. to be done any and all acts and <br />things necessary or proper for carrying out the transactions contemplated hereunder. The County <br />Administrator and/or_ the Clerk or any designees thereof are hereby authorized to execute such tax <br />forms or agreements as shall be necessary to. effect the transactions contemplated hereby, including <br />designating Bond Counsel to assist or act as agent with respect thereto. <br />SECTION 10. ORIGINAL RESOLUTION TO CONTINUE, IN FORCE. Except as <br />herein expressly provided, the Original Resolution and . all the terms and provisions thereof, <br />including the covenants contained therein, are and shall remain in full force and effect. <br />SECTION 11. SEVERABILITY AND.INVALID PROVISIONS. ,If any one or more of <br />the covenants, agreements or provisions herein contained shall be held contrary, to any express <br />provision of law or contrary to the policy of express law, even though not expressly prohibited, or <br />against public policy, or shall for any reason whatsoever be held invalid, then such covenants; <br />agreements orprovisions shall be null and void and shall be deemed separable from -the remaining <br />6 <br />
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