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HomeMy WebLinkAbout2019-007NGN Draft No.2 1/16/19 262.11 RESOLUTION NO. 007 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA AUTHORIZING THE REDEMPTION OF $1,125,000 IN AGGREGATE PRINCIPAL AMOUNT OF ITS INDIAN RIVER COUNTY, FLORIDA REVENUE BONDS (SPRING TRAINING FACILITY), SERIES 2001; AUTHORIZING A REDEMPTION NOTICE, NOTICE TO REDEEM AND CERTAIN OTHER DOCUMENTATION; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: SECTION 1. AUTHORITY FOR THIS RESOLUTION. This resolution is adopted pursuant to the provisions of Section 125.01, et seq., Florida Statutes, and other applicable provisions of law. SECTION 2. FINDINGS. It is hereby ascertained, determined and declared that: A. Indian River County, Florida (the "County") has previously issued its Revenue Bonds (Spring Training Facility), Series 2001 (the 'Bonds"). B. The County desires to redeem $1,125,000 in aggregate principal amount of said Bonds from legally available funds of the County, and to specify the manner of such redemption. SECTION 3. AUTHORIZATION OF REDEMPTION. $1,125,000 of the Bonds, as described in the form of Notice of Redemption attached hereto as Exhibit A, are hereby authorized to be redeemed by the County. The County hereby authorizes the Chairman to execute any notice to redeem, continuing disclosure filing and other documentation in connection therewith. SECTION 4. REPEAL OF INCONSISTENT PROVISIONS. All resolutions or parts thereof in conflict with this Resolution are hereby repealed to the extent of such conflict. SECTION 5. SEVERABILITY. In the event that any portion or section of this Resolution is determined to be invalid, illegal or unconstitutional by a court of competent jurisdiction, such decision shall in no manner affect the remaining portions or sections of this Resolution, which shall remain in full force and effect. SECTION 6. EFFECTIVE DATE. This Resolution shall take effect immediately upon its final passage and adoption. 1 The foregoing resolution was moved for adoption by Commissioner o' Bryan and seconded by Commissioner Flescher , and, upon being put to a vote, the vote was as follows: Chairman Bob Solari AYE Vice -Chairman Susan Adams AYE Commissioner Joseph E. Flescher AYE Commissioner Tim Zorc AYE Commissioner Peter D. O'Bryan AYE The Chairman thereupon declared the resolution duly passed and adopted this 22nd day 'of January, 2019. -.Y COkiNj� ........... ATTEST: Jeffrey R. Smith, Clerk of Court BOARD OF COUNTY COMM >f© RS and Compt oller OF INDIAN RIVER COUNTYjF)f;�A By: By: :. Deputy Clerk Bob Solari, Chairmy Approved as to form and lea ncy: - ; By: ftly'-Ian Reingold, County Attorney S-1 EXHIBIT A FORM OF NOTICE OF REDEMPTION I_mI NGN Draft No.3 1/16/19 262.11 NOTICE OF REDEMPTION Indian River County, Florida Revenue Bonds (Spring Training Facility), Series 2001 NOTICE IS HEREBY GIVEN on behalf of Indian River County, Florida (the "County") pursuant to that certain Resolution No. 2001-072, adopted August 7, 2001, as amended and supplemented (the "Resolution"), that a portion of the County's outstanding Revenue Bonds (Spring Training Facility), Series 2001, identified below (the "Refunded Bonds"), which were originally issued on August 29, 2001, shall be redeemed, prior to their respective maturities, on February 26, 2019 (the "Redemption Date"), at a redemption price equal to 100% of the principal amount of each Refunded Bond to be redeemed, together with interest accrued thereon to the Redemption Date. Such redemption is conditional on there being on deposit with the Paying Agent on the Redemption Date sufficient money to pay the full redemption price of the Refunded Bonds. The Refunded Bonds or portions thereof to be redeemed are: Maturity Interest (April 1 Amount CUSIP No. Rate 2021 $870,000 45441KAR8 5.25% 2031 255,000 45441KAT4 5.00 Payment of the Redemption Price of such Refunded Bonds shall become due and payable on the Redemption Date at the office of U.S. Bank, National Association, as paying agent (the "Paying Agent"), upon surrender thereof at the office of the Paying Agent designated below. Interest on such Refunded Bonds accruing prior to the Redemption Date will be paid in the usual manner. Interest on such Refunded Bonds will cease to accrue from and after the Redemption Date. No representation is made as to the correctness or accuracy of each CUSIP number, either as printed on the Refunded Bonds or as contained in this Notice of Redemption. All questions should be directed to the Paying Agent, at the address designated below. Delivery Instructions: U.S. Bank Corporate Trust Services 111 Fillmore Avenue East St. Paul, Minnesota 55107 1-800-934-6802 Bondholders presenting their Refunded Bonds in person for same day payment must surrender their bonds by 1:00 p.m. on the redemption date and a check will be available for pick up after 2:00 p.m. Checks not picked up by 4:30 P.M. will be mailed out to the Bondholders via first class mail. REQUIREMENT INFORMATION For a list of redemption requirements please visit our website at www.usbank.com/corporatetrust and click on the "Bondholder Information" link. IMPORTANT NOTICE Under the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the "Act"), 28% will be withheld if tax identification number is not properly certified. U.S. BANK, NATIONAL ASSOCIATION, as Paying Agent By: Marie Mortenson-Mack Dated: January 23, 2019 Assistant Vice President 2