06/04/2024 - Laserfiche WebLink

Home Browse Search

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