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2025-061
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Last modified
10/13/2025 12:21:41 PM
Creation date
10/13/2025 12:18:40 PM
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Resolutions
Resolution Number
2025-061
Approved Date
10/07/2025
Agenda Item Number
14.C
Resolution Type
Authorizing the Sale of Recenue Bonds
Entity Name
Sandridge Golf Club
Subject
Authorizing Capital Revenue Bonds for the Sandridge Golf Club new clubhouse.
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manually endorsed on such Bond a certificate of authentication by the Registrar or such other <br />entity as may be approved by the Issuer for such purpose. Such certificate on any Bond shall be <br />conclusive evidence that such Bond has been duly authenticated and delivered under this <br />Resolution. The form of such certificate shall be substantially in the form provided in Section 2.09 <br />hereof. <br />SECTION 2.05. RESERVED. <br />SECTION 2.06. BONDS MUTILATED, DESTROYED, STOLEN OR LOST. In <br />case any Bond shall become mutilated, or be destroyed, stolen or lost, the Issuer may, in its <br />discretion, issue and deliver, and the Registrar shall authenticate, a new Bond of like tenor as the <br />Bond so mutilated, destroyed, stolen or lost, in exchange and substitution for such mutilated Bond <br />upon surrender and cancellation of such mutilated Bond or in lieu of and substitution for the Bond <br />destroyed, stolen or lost, and upon the Holder furnishing the Issuer and the Registrar proof of his <br />ownership thereof and satisfactory indemnity and complying with such other reasonable <br />regulations and conditions as the Issuer or the Registrar may prescribe and paying such expenses <br />as the Issuer and the Registrar may incur. All Bonds so surrendered shall be cancelled by the <br />Registrar. If any of the Bonds shall have matured or be about to mature, instead of issuing a <br />substitute Bond, the Issuer may pay the same or cause the Bond to be paid, upon being indemnified <br />as aforesaid, and if such Bonds be lost, stolen or destroyed, without surrender thereof. <br />Any such duplicate Bonds issued pursuant to this Section 2.06 shall constitute original, <br />additional contractual obligations on the part of the Issuer whether or not the lost, stolen or <br />destroyed Bond be at any time found by anyone, and such duplicate Bond shall be entitled to equal <br />and proportionate benefits and rights to the same extent as all other Bonds issued hereunder. <br />SECTION 2.07. INTERCHANGEABILITY, NEGOTIABILITY AND <br />TRANSFER. Bonds, upon surrender thereof at the office of the Registrar with a written <br />instrument of transfer satisfactory to the Registrar, duly executed by the Holder thereof or his <br />attorney duly authorized in writing, may, at the option of the Holder thereof, be exchanged for an <br />equal aggregate principal amount of registered Bonds of the same maturity of any other authorized <br />denominations. <br />The Bonds issued under this Resolution shall be and have all the qualities and incidents of <br />negotiable instruments under the law merchant and the Uniform Commercial Code of the State of <br />Florida, subject to the provisions for registration and transfer contained in this Resolution and in <br />the Bonds. So long as any of the Bonds shall remain Outstanding, the Issuer shall maintain and <br />keep, at the office of the Registrar, books for the registration and transfer of the Bonds. <br />Each Bond shall be transferable only upon the books of the Issuer, at the office of the <br />Registrar, under such reasonable regulations as the Issuer may prescribe, by the Holder thereof in <br />person or by his attorney duly authorized in writing upon surrender thereof together with a written <br />instrument of transfer satisfactory to the Registrar duly executed and guaranteed by the Holder or <br />his duly authorized attorney. Upon the transfer of any such Bond, the Issuer shall issue, and cause <br />to be authenticated, in the name of the transferee a new Bond or Bonds of the same aggregate <br />principal amount, interest rate, and maturity as the surrendered Bond. The Issuer, the Registrar <br />and any Paying Agent or fiduciary of the Issuer may deem and treat the Person in whose name any <br />9 <br />
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