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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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Bonds during the 15 days next preceding an interest payment date or, in the case of any proposed <br />redemption of the Bonds, then, for the Bonds subject to such redemption, during the 15 days next <br />preceding the date of the first mailing of notice of such redemption. <br />[(INSERT REDEMPTION PROVISIONS)] <br />[Redemption of this Bond under the preceding paragraphs shall be made as provided in the <br />Resolution upon notice given by first class mail sent at least 30 days prior to the redemption date <br />to the Registered Holder hereof at the address shown on the registration books maintained by the <br />Registrar; provided, however, that failure to mail notice to the Registered Holder hereof, or any <br />defect therein, shall not affect the validity of the proceedings for redemption of other Bonds as to <br />which no such failure or defect has occurred. In the event that less than the full principal amount <br />hereof shall have been called for redemption, the Registered Holder hereof shall surrender this <br />Bond in exchange for one or more Bonds in an aggregate principal amount equal to the unredeemed <br />portion of principal, as provided in the Resolution.] <br />As long as the book -entry only system is used for determining beneficial ownership of the <br />Bonds, notice of redemption will only be sent to Cede & Co. Cede & Co. will be responsible for <br />notifying the DTC Participants, who will in turn be responsible for notifying the beneficial owners <br />of the Bonds. Any failure of Cede & Co. to notify any DTC Participant, or of any DTC Participant <br />to notify the beneficial owner of any such notice, will not affect the validity of the redemption of <br />the Bonds. <br />Reference to the Resolution and any and all resolutions supplemental thereto and <br />modifications and amendments thereof and to the Act is made for a description of the pledge and <br />covenants securing this Bond, the nature, manner and extent of enforcement of such pledge and <br />covenants, and the rights, duties, immunities and obligations of the Issuer. <br />It is hereby certified and recited that all acts, conditions and things required to exist, to <br />happen and to be performed precedent to and in the issuance of this Bond, exist, have happened <br />and have been performed, in regular and due form and time as. required by the laws and <br />Constitution of the State of Florida applicable thereto, and that the issuance of the Bonds does not <br />violate any constitutional or statutory limitations or provisions. <br />Neither the Chairman nor the members of the Board of the Issuer nor any person executing <br />this Bond shall be liable personally hereon or be subject to any personal liability or accountability <br />by reason of the issuance hereof. <br />This Bond shall not be valid or become obligatory for any purpose until the certificate of <br />authentication hereon shall have been signed by the Registrar. <br />15 <br />
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