HomeMy WebLinkAbout2012-030RESOLUTION 2012- 030
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
INDIAN RIVER COUNTY, FLORIDA AUTHORIZING THE
REDEMPTION AND PAYMENT OF THE COUNTY'S OUTSTANDING
GENERAL OBLIGATION BONDS, SERIES 2001; AUTHORIZING THE
PROPER OFFICERS OF THE COUNTY TO DO ALL ACTS NECESSARY
AND PROPER FOR CARRYING OUT THE TRANSACTIONS
CONTEMPLATED BY THIS RESOLUTION; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the Board of County Commissioners of Indian River County, Florida (the
"County") has determined that it is in the County's best interest to redeem and pay off the
County's General Obligations Bonds, Series 2001 (the "Series 2001 Bonds") from available
moneys of the County; and
WHEREAS, the County issued its Series 2001 Bonds pursuant to Resolution No. 95-63
adopted by the County on May 16, 1995, as supplemented from time to time, and as particularly
supplemented by Resolution No. 2001-107 adopted by the County on October 23, 2001
(collectively, the "Bond Resolution"); and
WHEREAS, the County desires to optionally redeem the outstanding Series 2001 Bonds
on their first optional redemption date; and
WHEREAS, the County has legally available cash on hand to redeem the Series 2001
Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA that:
SECTION 1. FINDINGS OF FACT. The County hereby finds, determines and
declares the matters hereinabove set forth.
SECTION 2. AUTHORITY FOR THIS RESOLUTION. This resolution is adopted
pursuant to Chapter 125, Florida Statutes, the Bond Resolution, and other applicable provisions
of law.
SECTION 3. AUTHORIZATION TO DEFEASE THE SERIES 2001 BONDS. The
redemption of the Series 2001 Bonds with a redemption date on or after July 1, 2012, and a
redemption price of 101% of the principal amount to be redeemed is hereby authorized. The
County Administrator is hereby directed and authorized to direct the paying agent for the Series
2001 Bonds to give notice of the redemption of the Series 2001 Bonds to DTC and the
bondholders of such redemption.
C\l�ocunicnts and ScuingsW�md\Looal SatingslTcmporary lmcmM Files\Conlcnt OudcwkVvICWMEZTN\fiords - 2001 General Obligation (2).docx
RESOLUTION 2012- 030
SECTION 4. REDEMPTION FUNDS. The County hereby directs Lite County
Administrator to transfer to the Paying Agent monies from the County's General Fund, together
with the balance, if any, in the Debt Service Fund, in the amount necessary to pay the principal,
redemption premium and any interest due on the Series 2001 Bonds on their redemption date.
By separate action, if required, the County shall take such steps as may be required to amend its
budget to provide for such redemption payment.
SECTION 5. AUTHORIZATION TO EXECUTE. The Chairman (or in the absence
of the Chairman, the Vice -Chairman), the Clerk, the Director of Management and Budget, the
County Administrator, the County Finance Director and the County Attorney or any other
appropriate officers of the County are hereby authorized and directed to take all actions
necessary, and to execute any and all certifications, agreements, or other instruments or
documents required by the Bond Resolution or this Resolution. All action taken to date by the
officers of the County in furtherance of the redemption of the Series 2001 Bonds is hereby
approved, confirmed and ratified.
SECTION 6. SEVERABILITY. If any one or more of the covenants, agreements or
provisions of this Resolution should be held contrary to any express provision of law or contrary
to the policy of express law, 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 separate from the remaining covenants, agreements or
provisions of this Resolution.
SECTION 7. INCONSISTENT RESOLUTIONS. All prior resolutions of the County
inconsistent with the provisions of this Resolution are hereby modified, supplemented and
amended to conform to the provisions herein contained.
SECTION 8. EFFECTIVE DATE. The provisions of this Resolution shall take effect
immediately upon its passage.
The foregoing resolution was moved for adoption by Commissioner,and
seconded by Commissioner F`lee�yer ,and, upon being put to a vote, the vote was, as follows:
Chairman Gary C. Wheeler _ Am
.
Vice Chairman Peter D. O'Bryan _ AM
Commissioner Wesley S. Davis
Commissioner Joseph E. Flescher
Commissioner Bob Solari Awe
The Chairman thereupon declared the resolution duly passed and adopted this 10th day of
C:\Docwncros and Scuings�umdU.ocal Scuings\Temporary Intcme\ Files\Contcnt.0udookVdCWMEZTN \Bonds - 2001 General Obligation (2) .docx
ATTEST: Jeffrey K. Barton,
Clerk of Court
By. r
Deputy Clerk
RESOLUTION 2012 - nom
ro COUN'�:��
ryagMM YOb MM
BOARD OF COUNTY COMMISSIONERS,
INDIAN RIVER COUNTY, FLORIDA
Gary C. yyneeler, Chairman
approval date:ri1 10 2012.
��proved as to form and legal suff��ien,cy.
A
Y'
Alan S. 1
Sr., County Attorney
C\Documcnts and SclW�gsUnndU.ocal ScUings\Temporary lfllCrncI F1IC5\COaICIII OudookUICWMHZTN\goods - 2001 General Obligation (2).docx