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1996-042
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1996-042
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Last modified
10/19/2015 3:53:36 PM
Creation date
10/15/2015 2:28:16 PM
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Resolutions
Resolution Number
1996-042
Approved Date
03/19/1996
Resolution Type
Sale of water and sewer revenue bonds
Subject
Bonb Purchase Contract
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constitute valid and legally binding limited obligations of the Issuer enforceable in accordance with <br />and entitled to the benefits and security of the Resolution (subject to usual equitable principles and <br />any applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting the <br />enforcement of creditors' rights generally from time to time in effect) and the Resolution will <br />provide, for the benefit and security of the holders from time to time of the Bonds, a legally valid <br />and binding pledge of and the first lien on the Pledged Funds pledged under the Resolution. <br />(i) The Issuer has not been notified of any listing or proposed listing by the Internal <br />Revenue Service to the effect that the Issuer is a bond issuer whose arbitrage certifications may not <br />be relied upon. <br />0) The Issuer agrees to cooperate with the Underwriters in any endeavor to qualify <br />the Bonds for offering and sale under the securities laws of such states or jurisdictions as the <br />Underwriters may request. The Issuer authorizes and consents to the use by the Underwriters of <br />the Official Statement, in obtaining such qualifications; provided, that the Issuer shall not be <br />required (i) to execute a general or special consent to service of process in any jurisdiction where <br />it is not now so subject or (ii) to be qualified to do business in any jurisdiction where it is not now <br />so qualified in connection with any such qualification. <br />(k) The issuance and sale of the Bonds is not subject to any transfer or other <br />documentary stamp taxes of the State of Florida or any political subdivision thereof. <br />(1) Neither the Issuer nor anyone acting on its behalf has, directly or indirectly, <br />offered the Bonds for sale to, or solicited any offer to buy the same from, anyone other than the <br />Underwriters. <br />(m) On or prior to closing the Official Statement as provided above will have been duly <br />authorized, executed and delivered, by the Issuer. <br />(n) Any certificate signed by any of the Issuer's authorized officers and delivered to <br />the Underwriters shall be deemed to be a representation by the Issuer to the Underwriters as to the <br />statements made therein. <br />(o) The Issuer shall take no action between the date hereof and the date of the initial <br />issuance of the Bonds which will cause any of the representations made in this Section 5 to be <br />untrue as of the initial issuance of the Bonds. <br />(p) The Issuer will not take any action or, to the extent the Issuer has control over such <br />action, permit any action to be taken which might result in the loss of the federal tax exempt status <br />of interest on the Bonds. <br />(q) The Issuer is not in default and has not been in default at any time after December <br />31, 1975, as to principal or interest with respect to any obligation issued by the Issuer, except as <br />disclosed in the Official Statement. <br />(r) The Issuer will furnish such information, execute such instruments and take such <br />other action not inconsistent with law in cooperation with the Underwriters as the Underwriters <br />may reasonably request in order (i) to qualify the Bonds for offer and sale under the Blue Sky or <br />other securities law and regulations of such states and other jurisdictions of the United States as <br />the Underwriters may designate, and (ii) to determine the eligibility of the Bonds for investment <br />under the laws of such states and other jurisdictions, and will use its best efforts to continue such <br />qualifications in effect so long as required for the distribution of the Bonds; provided that the <br />
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