HomeMy WebLinkAbout1984-03INDIAN RIVER COUNTY ORDINANCE NO. 84-3
AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY, FLORIDA, AMENDING
SECTION 1-11 OF THE CODE OF LAWS AND ORDINANCES
OF INDIAN RIVER COUNTY, FLORIDA, ADOPTED BY
ORDINANCE NO. 74-2, AS AMENDED FROM TIME TO TIME
BY ORDINANCE NOS. 77-19, 80-3 AND 80-10 PROVIDING
FOR THE FINANCING"OF COUNTY CAPITAL PROJECTS;
PROVIDING FOR INCLUSION IN THE CODE; SEVERABILITY;
AND EFFECTIVE DATE.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FI:ORIDA that:
SECTION 1
Section 1-11 (b) of the Code of Laws and Ordinances of
Indian River County, being Ordinance No. 74-2, Section (2) as
amended by Ordinance Nos. 77-19, 80-3 and 80-10 is hereby amended
to read as follows:
(b) To pay the cost of such projects, or to refund any
bonds theretofore issued for such purposes, the Board is author-
ized to provide by resolution for the issuance of revenue bonds
(hereinafter called "bonds") from time to time. The bonds, if
issued in certificated form after June 30, 1983, shall be issued
in fully registered form, without coupons, in such denomination or
denominations, bearing interest at such rate or rates per annum
not exceeding the maximum allowed by general law and shall mature
at such time or times, all as may be determined by the Board. The
bonds may be made redeemable before maturity, at the option of the
Board, at such price or prices and under such terms and conditions
as may be fixed by the Board prior to their issuance. The Board
shall determine the place or places of payment of the principal of
the bonds, which may be at any bank or trust company within or
without the State of Florida. Interest on the bonds shall be pay-
able by checks or drafts mailed to the registered owners thereof.
The bonds shall be signed by the manual or facsimile signatures of
the Chairman and Clerk of the Board, and by an authorized signa-
ture of the bond registrar designated by the Board to keep books
for the registration and transfer of the bonds, provided that the
bonds shall bear at least one signature which is manually executed
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thereon. The bonds shall have the seal of the Board affixed,
printed, reproduced or lithographed thereon, all as may be pre-
scribed in the resolution or resolutions authorizing the issuance
thereof. The bonds may be delivered to any contractor for payment
for his work in constructing the project for which the bonds are
issued hereunder or may be sold at public or private sale at such
price as the Board shall determine to be in the best interest of
the County, provided that the price shall not be less than ninety-
five per cent (95%) of the par value of the bonds sold.
The Board may, at its option, prior to the date of issu-
ance of any issue of bonds, elect to use an immobilization system
or book entry system with respect to the issuance of such bonds,
provided adequate records will be kept with respect to the owner-
ship of bonds issued in book entry form or the beneficial owner-
ship of bonds issued in the name of a nominee. The details of any
alternate system of bond issuance shall be set forth in a resolu-
tion of the Board duly adopted prior to the issuance of the
applicable issue of bonds.
SECTION 2
INCORPORATION IN CODE
The provisions of this ordinance shall be incorporated
into the County Code and the word "ordinance" may be changed to
"section", "article", or other appropriate word, and the sections
of this ordinance may be renumbered or relettered to accomplish
such intentions.
SECTION 3
SEVERABILITY
If any section, part of a sentence, paragraph, phrase or
word of this ordinance is for any reason held to be unconstitu-
tional, inoperative or void, such holdings shall not affect the
remaining portions hereof and it shall be construed to have been
the legislative intent to pass this ordinance without such uncon-
stitutional, invalid or inoperative part.
SECTION 4
EFFECTIVE DATE
The provisions of this ordinance shall become effective
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upon receipt from the Florida Secretary of State of official
acknowledgment that this ordinance has been filed with the
Department of State.
Approved and adopted by the Board of County
Commissioners of Indian River County, Florida on this 15th day of
February, 1984.
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY
By C
DON C. SC RLOCR, JR
Chairman
Acknowledgment by the Department of State of the State of Florida
this 23rd day of February , 1984.
Effective Date: Acknowledgment from the Department of State
received on this 27th day of February , 1984, at 11:00
A.M./P.M, and filed in the Office of the Clerk of the Board of
County Commissioners of Indian River County, Florida.
APd(5AY;,'
D S � AND
LEUFF I
By
. BR NDENB RG
Co my Attorne
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