11/6/2001 - Laserfiche WebLink

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,x { 71 . r . . e 1 1it 1, 1 . n NOW, THE BE IT RESOLVED BY THE COUNTY COMMISSION OF INDIAN RIVER COUNTY, FLORIDA : SECTION 1 . The County approves the purchase of the Municipal Bond Insurance Policy for the Series 2001 Bonds from Financial Security Assurance, as Bond Insurer. SECTION 2 . Pursuant to the Resolution, Financial Security Assurance Inc. ("FSA") has been selected to provide its Municipal Bond Insurance Policy (the "Bond Insurance Policy") as the Bond Insurance Policy (as defined in the Bond Ordinance) as additional security for payment of principal and interest on the Series 2001 Bonds . Selection of FSA as the Bond Insurer (as defined in the Resolution) is hereby ratified and confirmed, and if the successful bidder for the purchase of the Series 2001 Bonds elects to have the Series 2001 Bonds insured by the Bond Insurance Policy, then the provisions of this resolution shall apply and payment for such Bond Insurance Policy shall be made by the County from proceeds of the Series 2001 Bonds . The County hereby accepts the terns , conditions and agreements relating to the Bond Insurance Policy in accordance with the Municipal Bond Insurance Commitment (the "Commitment") as attached hereto as Exhibit A and incorporated herein. If the successful bidder elects to have the Series 2001 Bonds insured by the Bond Insurance Policy, a statement of insurance is hereby authorized to be printed on or attached to the Series 2001 Bonds for the benefit and information of the holders of the Series 2001 Bonds . SECTION 3 . This resolution shall become effective immediately upon its adoption . r Passed and adopted by the County Commission of the Indian River County, Florida, this 6th day of November, 2001 . (SEAL) By: rri�,u ATTEST : Chairman Caroline D . Ginn ounty Clerk Approved as to form and legal sufficiency : Special County Attorney EXHIBIT A MUNICIPAL BOND INSURANCE COMMITMENT NOVEMBER 6 , 2001 'r? - 65 -