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RESOLUTION 78-8
BE IT RESOLVED BY TME BOARD OF COUNTY COMMISSIONERS OF
INDIAN RIVER COUNTY, FLORIDA, That in addition to County
Resolution 78-7, the Board hereby agrees that in the event
the $402,500.00 Water and Sewer Revenue Bonds, Series 1979,
funds are not available on September. 30, 1978, then the
Board shall retire that Promissory Note in the principal
amount of $100,000.00, payable to the First Citrus Bank of
Indian River County, and dated the 30th day of January, 1978,
from such other cash reserves as the Board shall determine.
This Resolution shall become effective as of the
day of January, 1978.
BOARD OF COUNTY COMMISSIONERS OF
INDIAN RjIDVER, COUNTY, FLORIDA
ByG Z(/
William C. Wodtke, Jr., Chairman
Attest:
Z4����
Freda Wright, Clerk
V,
No. 1
$100,000.00
UNITED STATES OF AMERICA
STATE OF FLORIDA
COUNTY OF INDIAN RIVER
WATER AND SEWER REVENUE BONDS, SERIES 1979
ANTICIPATION NOTE
FOR VALUE RECEIVED, the County of Indian River, Florida
(the "Issuer"), hereby promises to pay to the order of First Citrus
Bank of Indian River County, at its principal office in the City of
Vero Beach, Florida, on or before September 30, 1978 in lawful money
of the United States of America, the principal sum of One Hundred Thousand
Dollars ($100,000), plus accrued interest at the rate of six per centum
(6%) per annum.
This Note is issued pursuant to the Constitution and laws
of the State of Florida, particularly Chapters 125 and 215.431, Florida
Statutes (1975), and Resolutions duly adopted by the Issuer on January 23,
1978, in anticipation of the receipt by the Issuer of the proceeds from
the sale of not exceeding $402,500 principal amount of Water and Sewer
Revenue Bonds, Series 1979, of the Issuer (the "Bonds"). This Note and
the interest due thereon are payable from and secured by a prior lien upon
and a pledge of the proceeds to be derived from the sale of the Bonds,and,
if necessary, from and secured by a prior lien upon and a pledge of the
gross revenues to be derived from the operation of the Issuer's water and
sewer system, all in the manner provided in the Resolutions, or in the
alternative, said Note is secured by other County funds now on hand.
This Note may constitute a general obligation of the Issuer
in the event D -id proceeds are not available at the time of maturity.
It is hereby certified, recited and declared that all acts,
conditions and things required to exist, to happen and to be performed
precedent to and in connection with the issuance of this Note, exist,
have happened, and have been performed in regular and due form and
time as required by the laws and Constitution of the State of Florida
applicable thereto; and that the issuance of this Note and of the
0
issue of Notes of which this Note is one does not violate any con-
stitutional or statutory limitations or provisions.
IN WITNESS WHEREOF, the County of Indian River, Florida, has
issued this Note and has caused the same to be signed by the Chairman of
its Board of County Commissioners and its corporate seal to be impressed
hereon and attested and countersigned by the Clerk of such Board, all
as of the 23rd day of January, 1978.
COUNTY OF INDIAN RIVER, FLORIDA
By /Y ^ 013��4
Chairman, Board of County
Commissioners
(SEAL)
ATTESTED AND COUNTERSIGNED:
Clerk, Board of C2pnty
Commissioners