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RESOLUTION NO. 85-39
A RESOLUTION AWARDING A $2,750,700 WATER
AND SEWER REVENUE BOND, SERIES 1982, OF
INDIAN RIVER COUNTY, FLORIDA, TO FARMERS
HOME ADMINISTRATION AT NEGOTIATED SALE;
AND PROVIDING AN EFFECTIVE DATF_
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
INDIAN RIVER COUNTY, FLORIDA (the "Issuer"), as follows:
SECTION 1. AUTHORITY FOR RESOLUTION. This resolution
is adopted pursuant to Chapter 159, Florida Statutes (1983), and
other applicable provisions of law.
SECTION 2. FINDINGS. It is hereby ascertained, deter-
mined and declared that:
A. On July 7, 1982, the Board of County Commissioners
of the Issuer duly adopted a resolution (the "Resolution")
authorizing the issuance of not exceeding $2,750,700 aggregate
principal amount of Water and Sewer Revenue Bonds, Series 1982,
of the Issuer (the "Bonds"), for the purpose expressed therein.
B. Due to the characteristics of the Bonds and pre-
vailing municipal bond market conditions, it is necessary,
desirable and in the best public interest that the Bonds be sold
at negotiated sale to the U. S. Department of Agriculture,
Farmers Home Administration (the "Government"), at the price of
par, bearing interest at the rate of 5% per annum, since such
terms are substantially more favorable than the Issuer could
reasonably expect to receive if the Bonds were sold at public
sale.
SECTION 3. AWARD OF BONDS. The Bonds are hereby
awarded and sold to the Government at the price of par, bearing
interest at the rate of 5% per annum, and shall be issued in the
form of a single, fully -registered bond, payable in installments,
as provided in the Resolution.
SECTION 4. EFFECTIVE DATE. This resolution shall take
effect immediately upon its adoption.
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Scurlocghe foregoing resolution was offered by Commissioner
who moved its adoption. The motion was seconded
by Commissioner Bowman and, upon being put to a vote, the
vote was as follows:
Chairman Patrick B. Lyons Aye
Vice Chairman Don C. Scurlock, Jr. Aye
Commissioner Margaret C. Bowman Aye
Commissioner Richard N. Bird, Ave
Commissioner William C. Wodtke, Jr. Aye
The Chairman thelTupon declared the resolution duly
passed and adopted this day of April, 1985.
BOARD F COUNTY COMMISSIONERS OF
IND N IVER COUNTY, FLORIDA
By
WA-1;
ATRICK B. L N , Chairman
Attest: �i �l/_�
FREDA WRIGHT, C rk
APPROVED T FO AND
LEGAL SUFI EN
By //4,
GpfRYBRANDENBU'RG
ount Attorney tee_
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