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RESOLUTION NO. 92-146
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY,
FLORIDA, AUTHORIZING THE ISSUANCE OF
GENERAL OBLIGATION BONDS OR NOTES OF
INDIAN RIVER COUNTY, FLORIDA, IN ONE OR
MORE SERIES, IN AN AMOUNT NOT -TO -EXCEED
$26,000,000 TO FINANCE THE COST OF ACQUIRING
ENVIRONMENTALLY SIGNIFICANT LAND TO
PROTECT WATER QUALITY, OPEN SPACES, AND
WILDLIFE HABITAT; CALLING FOR AND
PROVIDING FOR A BOND REFERENDUM OF THE
QUALIFIED ELECTORS RESIDING IN THE COUNTY
TO BE HELD ON NOVEMBER 3, 1992, ON THE
QUESTION OF THE ISSUANCE OF SUCH GENERAL
OBLIGATION BONDS OR NOTES; AND PROVIDING
FOR CERTAIN MATTERS WITH RESPECT THERETO
AND 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 Section 125.01, Florida Statutes,
Chapter 100, Florida Statutes, and other applicable provisions of law.
SECTION 2. AUTHORIZATION OF BONDS
Subject and pursuant to the provisions hereof, general obligation bonds
or notes (herein "bonds") of the County of Indian River, Florida (herein
"County") are authorized to be issued in one or more series in the aggregate
principal amount not -to -exceed twenty-six million dollars to finance the cost
of acquisition of environmentally significant land to protect water quality,
open spaces, and wildlife habitat; together with other purposes necessary,
appurtenant, or incidental thereto, including all costs of the issuance of the
bonds. Such bonds shall be payable from ad valorem taxes levied without
limitation as to rate or amount on all taxable property in the County and
shall be structured in such a manner that at the time of issuance the millage
rate required to make the maximum annual payments shall not exceed 1/2
mill. Such bonds shall bear interest at the rate or rates not exceeding the
maximum rate permitted by applicable law at the time of the sale of the
bonds, to be determined upon sale of the bonds. None of the bonds shall
be issued for a term longer than 15 years from their date of issuance.
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RESOLUTION NO. 92-146
SECTION 3. BOND REFERENDUM
A bond referendum of the qualified electors residing in the County is
hereby called to be held on Tuesday, November 3, 1992, to determine
whether or not the issuance of such bonds in one or more series in an
aggregate principal amount not -to -exceed twenty-six million dollars shall be
approved by such qualified electors to finance the cost of acquisition of
environmentally significant land to protect water quality, open spaces, and
wildlife habitat, together with other purposes necessary, appurtenant, or
incidental thereto, including all costs of the issuance of the bonds.
All qualified electors residing in the County shall be entitled and
permitted to vote in such bond referendum. The places of voting and the
inspectors and clerks for the bond referendum shall be the same as those
places designated and those persons appointed by the Supervisor of
Elections for the general election to be held in the County on the same date.
The polls will be open at the voting places form 7:00 a. m. until 7:00 p.m.
on said day.
SECTION 4. OFFICIAL BALLOT
County election equipment shall be used at such bond referendum and
the ballot to be used shall be in substantially the following form:
OFFICIAL BALLOT
INDIAN RIVER COUNTY
Bond Referendum
Environmental/ Natural Lands Acquisition
November 3, 1992
SHALL INDIAN RIVER COUNTY BE AUTHORIZED TO
ACQUIRE ENVIRONMENTALLY SIGNIFICANT LAND TO
PROTECT WATER QUALITY, OPEN SPACES, AND WILD-
LIFE HABITAT, BY ISSUING GENERAL OBLIGATION
BONDS NOT EXCEEDING $26,000,000 TO BE REPAID IN
NOT -TO -EXCEED 15 YEARS AND STRUCTURED SO
THAT AT THE TIME OF ISSUANCE THE RATE
NECESSARY TO FUND THE MAXIMUM ANNUAL
PAYMENTS ON THE BONDS SHALL NOT EXCEED 1/2
MILL?
For the Bonds
Against the Bonds
SECTION 5. ABSENTEE VOTING
Absentee voting shall be permitted in such bond referendum.
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RESOLUTION NO. 92-
146
The Chairman thereupon declared the resolution duly passed and
adopted this 18 day of August 1992.
BOARD OF COUNTY COMMISSIONERS
INDIAN RIVER COUNTY, FLORIDA
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