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HomeMy WebLinkAbout12/3/19401 1 1 457 CERTIFICATE OF DECLARATION OF RESULT OF ELECTION HELD IN INDIAN RIVER MOSQUITO CONTROL DISTRICT IN INDIAN RIVER COUNTY, FLORIDA. WHEREAS, pursuant to a resolution duly adopted by the Board of County Commissioners of Indian River County, Florida and proceedings duly taken, an election was held in Indian River Mosquito Control District in Indian River County, Florida on November 5, 1940 on the question of approving or disapproving Chapter 20114 of the Laws of Florida as adopted by the Legislature of the State of Florida in the session of said Legislature held in the year 1939; and WHEREAS, the inspectors and clerk of said election have made returns thereof to this Board as provided by law, and this Board has canvassed said returns at this meeting held for that purpose, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COM14ISSIONERS OF THF COUNTY OF INDIAN RIVER, FLORIDA: 1. That the Board of County Commissioners has determined and hereby finds and certi- fies that the total number of qualified electors residing in said Indian River Mosquito Control District in Indian River County, Florida, who were freeholders and legally qualified to parti- cipate in said election, was 1437 as shown by a list of all qualified electors who were free- holders residing in said District prepared and certified by the Supervisor of Registration of Indian River County, Florida, having charge of the registration books for said election. 2. That from said canvass of the election teturns duly made by the inspectors and clerk of said election held on November 5, 1940, in Indian River Mosquito Control District in Indian River County, Florida on the question of approving or disapproving Chapter 20114 of the laws of Florida as adopted.by the Legislature of the State of Florida in the session of said Legislature held in the year 1939, there were cast by the duly qualified electors of said Indian River -Mosquito Control_,Distrisst, in.. Indian River County, Florida -who were freeholders, the total number of 1103 votes, of which number 797 votes were cast for approval of said Chapter 20114, Acts of 1939, State of Florida, and 306 votes were cast against approval of said Chapter 20114, Acts of 1930, State of Florida, and that�the majority of said votes cast at said election for approval of said Chapter 20114,_Acts of 1939, State of Florida, was 497 votes and that the result of said election was for the approval of said Chapter 20114, Acts of 1939, State of Florida. C. S. Michael a iman Dougaas Baker Clark There being no further business on motion made seconded and carri6d the Board then adjourned. ATT . S. - -- - - - - - - - - - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - - - - - - - - - - �� - -- - -- - -- -�. -- -- - - - -� - - - - - r - r - - - - - - - - TUESDAY, DECEMBER 3RD..'1940.— The Board of County Commissioners in and for Indian River County, Florida, met'at the Court House in Vero Beach, at 10:00 o'clock A. M. Tuesday, December 3rd., 1940, in Regular meeting with the following members of the Board present: C. S. Michael, Chairman, S. 8, Glover, W. C. Graves, dr. Albert 0. Helseth, and Frank C. Vickers. Also present were Wm. W. Frick, Sheriff, Chas. A. Mitchell, Attorney for the Board and Douglas Baker, Clerk. The minutes of November 5th., and 8th., were read and approved. It was ordered that the official bonds of the following designated officers be set for the term beginning January 7th., 1941, to -wit: Tax Collector.... 109000.00 Clerk Circuit Court .... ,••••.. 2,000.00 Sheriff ....................... 29000.00 Deputy Sheriff Bond of J. H. Parker in the sum of $1,000 with the U. S. Fidelity and Guaranty Company of Baltimore, Maryland, as surety was approved. Miss Leila M. Bunkley appeared before the Board and made a report of her activities for the month of November as follows, to -wit: COUNTY NURSE'S MONTHLY REPORT NOVR, 1940. Total number of cases for the month 73 Number of visits to cases 62 Number of visits in behalf of cases 85 Number of office interviews 62 Number of oases cared for in hospital 3 Number of oases to dentist 2 Number of oases for X-ray 4 Laboratory Specimens submitted (Hookworm) 11 Hookworm Treatments 5 Cases to T. B. Sanatorium 1 Cases to F.C.C.C. Coral Gables, Fla. & Jackson Memorial Hospitals 1 Visits to Schools 9 Some time was spent assisting with the Red Cross Roll Call and War Relief Production. It was ordered Mrs. J. D. Carter be removed from the Pauper's List as she is now employed in the W.P.A. Sewing.Room. It was ordered Mrs. Alice Padgett be removed from the Pauper's List, her husband being employed with the Mosquito Control District. It was ordered Mrs. Maude McLane be strickened from the Mother's Pension Fund. Clifford Morrison,.Doris Denmark and L. P. Mercer, appeared before the Board repre- senting the High School F.F.A. end requested the Board's cooperation in placing white crosses along the highway as identification marks at places where people have been killed in automobile accidents. The Board advised that they had no authority in this connection and that it would be under the jurisdiction of the State Road Department. 3t was moved by W. C. Graves, Jr., seconded by Frank C. Vickers and unanimously carried that the salary and expense of the Supervisor of Registration be fixed at $600 per year and that his entire compensation to include all office expenses, newspaper publication costs and any and all charges and expenses connected with the Supervisor of Registration and his total expenses and compensation aggregated and limited to $600 per year shall be payable in monthly installments of $50.00 each. Motion was mads,, duly seconded and carried that the increased budget to W. P. A. Sewing Room be approved until the further orders of the Board. A.letter was received from.Mr. J. J. P. Hamilton, Winter Beach, Florida, requesting damages of $100 for the loss of a mule alleged to have been injured and later died by breaking through a defective decking at the east and of the secondspan of the Winter Beach bridge. The matter was referred to Attorney Mitchell for.investigation and report his findings to the Board A petition signed by Merrill Barber, Tom Hewitt and many others was presented to the Board by Mrs. Raymond Finley, requesting that Mr. Joe B. Walker be discharged from the County jail, said petition stating Mr. Walker to be in bad health and that his family was suffering by reason of him being detained. The Board advised t#at they had no right to act upon a request of this kind and ordered the petition filed by the Clerk. E 1 1 1�'J MCI, The Notary Public Bond of Oscar L. DuBose in the sum of $500 with the Glen_FalU.`Ind9 - Company as surety was approved. The Notary Public Bond of Leila M. Davis in the sum of $500 with the American Surety Company as surety was approved. The Notary Public Bond of Eunice E. Danberg in the sum of $500 with the American Surety Company as surety was approved. At the request of Mr. Falter Bovard the Board approved the operation and*hospitaliza- tion and expense for Eva Leigh, (Colored) with the understanding he, (Mr. Bovard)'would hold-out the sum of S3=per week when and after such time she would go back to work. RESOLUTION -TRANSFERRING FUNDS FROM KAZ y BILL TO I.&SFU1QD. R:&<: B�3IST �'4.' adoption: Commissioner W. C. Graves, Jr. introduced the following Resolution and moved its WHEREAS, there have heretofore ,.been issued Refunding Bonds (hereinafter identified as "said Refunding Bonds") for the purpose of refunding outstanding road and bridge bonded indebt ness of this County, said Refunding Bonds being described as follows: Date of Issue JANUARY 1, 1937 Taxing Unit and Designation INDIAN RIVER COUNTY SPECIAL ROAD AND BRIDGE DISTRICT NO. 4 ROAD AND BRIDGE REFUNDING BONDS. WHEREAS, semi-annual interest coupons will become due and payable, on said Refunding Bonds as follows: Taxing Unit Coupon Maturity Date SPECIAL F*B DISTRICT NO.4 W ARY 19 1941 WHEREAS, it is the desire of this Board to make funds available for the payment of said interest coupons on said Refunding Bonds; Now, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIOMS OF IM IAN RIPER COUNTY, FLORIDA, IN SESSION DULY ASSEMBLED: Section 1. That the State Board of Administration, Tallahassee. -Florida,, be, and it is hereby, requested, instructed, and directed to cause sufficient funds now, or hereafter, credited to the applicable Kanner Bill Account for the taxing units identified in the preambles hereto to be transferred from said applicable Kanner Bill Account to the applicable Interest and Sinking Fund Account of the said Refunding Bond issues identified in the preambles hereto so that the funds in said applicable Interest and Sinking Fund Account, Making due allowance for funds already therein not heretofore earmarked for specific interest payments, will be the amounts set forth in the following tabulation; and, after said transfer is made, said Board shall cause said the/funds to be applied to the payment of interest coupons on said Refunding Bonds as follows: Taxing.Unit Amount of Balance Coupon After Transfer Maturity Date SPECIAL ROAD AND BRIDGE DISTRICT NO. 4 $8700 JANUARY 1, 1941 I Section 2. That the Clerk of this Board be, and he is hereby, instructed and directed (1) to furnish the State Board of Administration with a certificate in duplicate as to each taxing unit setting forth the Refunding Bonds issued since the date of the last certificate of similar nature executed by him; and (2) to hereafter execute similar certificates covering any exchanges made subsequent to the date hereof. Section 3. That, in addition to the amounts hereinabove providedtobe transferred, the State Board of Administration is hereby authorized.to transfer from the applicable Kanner Bill Account for the taxing units identified in the preambles hereof to the applicable Interest and Sinking Fund Account of the said Refunding Bond issues identified in the preambles hereof, either now or as funds become available from future collections, a sum of money sufficient to permit funds to be placed with the Paying Agent for the said Refunding Bond issues to replace any funds heretofore sent to the Paying Agent to be applied in payment of interest on said Re- funding Bond issues but which have subsequently either been recalled because of peremptory writ, of mandamus or impounded because of the service of alternative grits of, mandamus- or impounded out of any reserve account by the service of any writs of mandamus, said remittance to be made, at the option of the Board of Administration, either at this time or at such time as.any of such coupons are presented to the Paying Agent for payment; provided, however, that in the event the latter.option is elected by the Board of Administration, the said Board is hereby requested to make arrangements with the Paying Agents to be notified when any,funds are needed for this purpose. Section 4. That the intent of this resolution is to make present provision for the payment, when and if presented, of all interest through the next coupon paying date on all Re- funding. -Bonds identified in the preambles hereof; and any action by the Board of Administration to accomplish this result, is hereby fully authorized, including the transfer of sufficient funds from the applicable Xanner Bill Account to the applicable Interest and Sinking Fund Account of the issues identified in the preambles hereof to permit the payment of interest coupons on the identified issues of Refunding Bonds. Section 5. That the Clerk of this Board be, and he is hereby, instructed and directed to forward duplicate certified copies of this resolution to the State Board of Administration, Tallahassee, Florida, which certified copies shall constitute the authority of said Board to do and perform the acts hereinabove directed. Section 6. That any and all transfers from the Kanner Bill Account hereinabove dir- ected:to be made are being so made and so directed pursuant to the terms of the peremptory writ of mandamus entered in the case of State ex rel Meredith at al. vs INDIAN RIFER County, at al., being Case No. 2048 in the Circuit Court of said County, certified copy of the record in such case having heretofore been supplied the State Treasurer as County Treasurer ex officio. The resolution was duly seconded by Commissioner Vickers and upon being put to a vote e saime was. unanimously adopted. Commissioner.W-.0. Greves,Jr• introduced -the following resolution aad' moved -its .adoption. WHEREAS, there have heretofore been issued Refunding Bonds (hereinafter identified as, "said Refunding Bonds") for the purpose of refunding outstanding road and bridge bonded indebt- edness of this County, said Refunding Bonds being described as follows: Date of Issue Taxing Unit and Designation JANUARY 1, 1938 WABASSO BRIDGE DISTRICT REFUNDING BONDS WHEREAS, semi-annual interest coupons will become due and payable, on said Refunding Bonds as follows: Taxing Unit Coupon Maturity Date WABASSO BRIDGE DISTRICT JANUARY 19 1941 funds WHEREAS, it is the desire of this Board to make/available for the payment of said Interest coupons on -said Refunding Bonds; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, IN SESSION DULY ASSEMBLED: Section 1. That the State Board of Administration, Tallahassee, Florida, be, and it hereby, requested, instructed, and directed to cause sufficient funds now, or hereafter, credit. ed to the applicable Kanner Bill Account for the taxing units identified in the preambles here- to to be transferred from said applicable Kanner Bill Account to the applicable Interest and Sinking Fund Account of the said Refunding Bond issues identified in the preambles hereto so 1 461 e that thfunds in said applicable Interest and Sinking Fund Account, making due allowance for funds already therein not heretofore earmarked for specific interest payments, will be the amounts set forth in the following tabulation; and, after said transfer is made, said Board shall cause the said funds to be applied to the payment of i nt-erest coupons on said Refunding Bonds as follows: Amount of Balance Coupon Taxing Unit after Transfer Matey Data WABASSO BRIDGE DISTRICT $19540.00 ZANUARY 1, 1941 Section 2. That the Clerk.of this Board be, and he is hereby,instrueted aid..direct®d (1) to.furnish the State Board of Administration mi th a certificate in duplicate as to each taxing unit setting fortho the Refunding Bonds issued since the date of the last certificate of similar nature executed by him; and (2) to hereafter execute similar certificates covering any exchanges made subsequent to the date hereof. Section 3. That, in addition to the amounts hereinabove provided to be transferred, State Board of Administration is hereby authorized to transfer from the Applicable Kanner Bill Account for the taxing units identified in the preambles hereof to the applicable Interest -and Sinking Fund Account of the said Refunding Bond issues identified in the preambles hereof, either now or as funds become available from future collections, a sum of.money sufficient to permit funds to be placed with the Paying Agent for the said Refunding Bond issues to replacer' any funds heretofore sent to the Paying Agent to be applied in payment of interest on said Re- funding Bond issues but hick have subsequently either been recalled because of peremptory writs of mandamus or impounded because of the service of alternative writs of mandamus or impounded out of any reserve account by the service of any writs of mandamus, said remittance to be made, at the option of the Board of Administration, wither at this time or at such time as any of suc coupons are presented to the Paying Agent for payment; provided, however, that in the event the latter option is elected by the Board of Administration, the said Board is,hereby requested to make arrangements with the Paying Agents to be notified when any ,funds are needed for this purpose. Section 4. That the intent of this resolution is to make present provision for the payment, when • and if presented, of all interest through the next coupon paying date on all Re- funding Bonds identified in the preambles hereof; and any action by the Board of Administration to accomplish this result, is hereby fully authorized, including the transfer of suffieicent funds from the applicable Kanner Bill Account to the applicable Interest and Sinking Fund Account of the issues identified in the preambles hereof to permit the payment of interest coupons on the identified issues of Refunding Bonds. Section 5. That the Clerk of this Board be, and he is hereby, instructed and directed to forward duplicate certified copies of this resolution to the State Board of Administration, Tallahassee, Florida, which certified copies shall constitute the authority of said Board to do and perform the acts hereinabove directed. The resolution was duly seconded by Commissioner Vickers and upon being put to a vote. same was unanimously adopted. I Ml RESOLUTION-AtTTHORIvINGISSUANCE OF 8417 000 OF SPECIAL ROAD & BRIDGE DIST. 4. The following resolution was introduced and read in full, and, upon motion of Commissioner W. C. Graves, Jr., seconded by Commissioner Frank C. Vickers, was duly adopted by the following vote: Yeas: Graves, Vickers, Eelseth, Michael Nays: None Absent: Glover. Not Noting:_______ 462 RESOLUTION AUTHORIZING THE ISSUANCE OF $4179000.00 ROAD AND BRIDGE REFUNDING BONDS, SERIES 1941, DATED JANUARY lr 19419 OF SPECIAL ROAD AND BRIDGE DISTRICT NO. 49 IN INDIAN RIVER COUNTY, FLORIDA, FOR THE PURPOSE OF REFUNDING AND RETIRING THE LIKE AMOUNT OF LEGAL AND VALID OUTSTANDING NEGOTIABLE COUPON BONDS OF SAID SPECIAL ROAD AND BRIDGE DISTRICT: AND PROVIDING FOR THE MANNER OF ISSUANCE AND PAWENT THEREOF. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVL+'R COUNTY, FLORIDA, IN SESSION DULY ASSEMBLED: Section 1. That this Board has ascertained and determined and does hereby declare tha: (a) The Board of County Commissioners (hereinafter sometimes referred to as said "Board"), of the County of Indian River (hereinafter sons times referred to as said "County"), i the State of Florida, as the governing authority of Special Road and Bridge District No. 4 (hereinafter so=times referred to a s. said "District"), in said County and State, heretofore, under and by virtue of the Constitution and statutes of the State of Florida in such case wade and provided, duly authorized the issuance of negotiable coupon refunding bonds of said Distric for the purpose of refunding legal and valid outstanding road and bridge bonded indebtedness of said District, said Refunding Bonds being identified as to date of issue, designation, and amount thereof, as follows: Authorized Original Date of Issue _Desiggation mount of Issue January 1, 1937 Road and Bridge Refunding Bonds $445,000.00 (b) $417,000.00 of said bonds are now outstanding and unredeemed, said bonds bearing interest from date thereof until paid or until called for redemption, payable semi-annually on the first days of January and July in each year, which interest, subject to the reversionary provisions as set forth in said bonds and in the resolution authorizing their issuance, is enforceable and collectible at the rate of four per cent. (4f) per annum from the date of the bonds to January 1, 1946; at the rate of five per cent. (5%) per annum from and including January 1, 19469 to January 1, 1954; and at the rate of six per cent. (6%) per annum from and including January 1, 1954, and thereafter. Said $417,000.00 outstanding Road and Bridge Re- funding Bonds dated January 1, 1937, are in the denomination of $1,000.00 each, mature on January 1, 1967, but subject to the right of prior redemption on any interest payment date, and are numbered as follows, to -wit: Bond Numbers (Inclusive,) 1 to 3609 367 to 423 (c) All of said outstanding bonds hereinabove described represent and constitute legal and valid subsisting obligations of said District, incurred prior to November 6, 19349 for the payment of which the full faith and credit of said District ars pledged, and all property within said District, excepting only such property as would be exempt from.taxation under the provisions of the Constitution and Laws of Florida whichwere in force and effect at the time of the creation of the original indebtedness refunded by the aforesaid outstanding bonds is subject to the levy of an ad valorem tax, without limitation as to rate or amount, for the payment of the principal and interest of said bonds. (d) At the time of the passage of this resolution the sinking fund of the above des- cribed outstanding bonds of said District does not have moneys available for the redemption of all such bonds, and it is fbr the best interest of said District and its taxpayers to take advantage of the prevailing low interest rates for municipal bonds by refunding said outstand- ing bonds as hereinafter set forth, such new Refunding Bonds to bear interest at a lower rate than the rate or average rate of the bonds so refunded. (e) Under date of October 1, 1940, this Board ratified and confirmed an agreement pur- suant to which R. E. Crummer & Company was employed to work in cooperation with this Board in the refinancing of the bonded indebtedness of Special Road and Bridge District No. 4, in Indian 1 River County, Florida, which agreement contemplates the refinancing of the indebtedness eviden- 1 1 Ll 468 ���ed by the aforementioned outstanding bonds of said District as hereinafter provided. (f) All of said indebtedness constitutes "bonds" within the meaning of Section 6 of Article IX of the Constitution of Florida, as amended, so that Refunding Bonds may be legally issued for the purpose end.in the manner provided herein. (g) On November 6,'1934, the qualified electors of the State of Florida ratified an amendment to the Constitution of the State exempting from taxation homesteads up to the valu- ation of $5000.00. (h) It is the desire and intent of this Board that the indebtedness of said Special Road and Bridge District No. 4 evidenced by the said outstanding Refunding Bonds to be refundec under the provisions of this resolution shall be merged into the new Refunding Bonds herein authorized to be issued with like force and effect as to obligation as"if such indebtedness should remain unrefunded, and it is also the desire and purpose of this Board to renew and extend the contractual obligation of the indebtedness to be refunded on the same terms as to security and subject to the same conditions and provisions of law as are applicable to the saV original indebtedness, unaffected by the Constitutional amendment mentioned in the next pre- ceding paragraph of this Section, or any laws enacted subsequent to the creation of the debt evidenced by the bonds proposed to be refunded hereunder. (i) All acts, conditions, and things required by the Constitution and laws of Florida including Chapter 15772, Laws of Florida, Acts of 1931, being the General Refunding Act of 19319 to exist, happen, or be performed, precedent to the issuance of Refunding Bonds of said Special Road and Bridge District as herein provided, have happened, exist, and have been per- formed in regular and due time, form and manner, according to law. Section 2. That if any misteke or error shall have occurred in the description of any of said outstanding bonds as set forth in Section 1 (b) of this resolution, herein proposed to be refunded, such mistake or error shall be deemed to be immaterial provided the amount of Refunding Bonds issued hereunder does not exceed the amount of outstanding callable bonds surrendered in exchange or retired by the proceeds derived from sale of any of the Refunding Bonds hereby provided to be issued. Section 3(4). That for the purpose of refunding as of January 1, 19410 the Indebted- ness evidenced by the outstanding and unredeemed bonds of said Special Road and Bridge Distric as described in paragraph (b) of Section 1 hereof, there shall be and there are hereby author- ized and ordered to be issued the negotiable coupon bonds of said District in the principal amount of FOUR HUNDRED SEVENTEEN THOUSAND DOLLARS ($417,000.00), to be designated "INDIAN RIVER COMM,, FLORIDA SPECIAL ROAD AND BRIDGE DISTRICT NO. 4 ROAD AND BRIDGE REFUNDING BONDS SERIES 1941". Said bonds shall be in the denomination of $1,000.00 each, shall be numbered, aAd,without option of prior redemption, shall mature and be in the amounts as follows: Bontd Numbers �Inclusive,) 1to20 1944 $ 209000.00 21 to 34 35 to 44 45 to 54 55 to 64 65 to 75 76 to 86 87to98 130 000.00 1955 99 to 110 111 to 123 124 to 136 137 to 150 151 to 164 165 to 179 180 to 195 196 to 211 212 to 228 229 to 245 246 to 263 264 to 282 283 to 302 Maturity (January 1) Amount 1944 $ 209000.00 1945 149000.00 1946 100000.00 1947 100000.00 1948 109000,00 1949 110000.00 1950 119000.00 1951 129000.00 1952 129000.00 1953 13,000.00 1954 130 000.00 1955 14'000.00 1956 149000.00 1957 150000.00 1958 160000.00 1959 169000.00 1960 17,000.00 1961 179000.00 1962 18,Ooo.00 1963 199000.00 1964 209000.00 303 to 322 1965 20, 000.00 1 -- - 323 to 343 1966 210000.00 344 to 365 1967 229000.00 366 to 388 1968 230000.00 389 to 412 1969 249000.00 413 to 417 1970 _ 5.000.00 Total. . . . . . . . . . .$417 9000.00 (b) That said Refunding Bonds shall -be dated January 1, 1941, and shall bear interest at the rate of four per cent. (4%) per annum from date thereof until paid, payable semi-annuall; on the first days of January and July in each year, and said interest at said rate shall be evidenced by coupons attached to each bond; PROVIDED, that interest shall be paid on said Re- funding Bonds only from the date to which interest is paid on the outstanding bonds provided to be refunded herehnddr. (c) Each of said Refunding Bonds shall be signed by the Chairman of said Board of County Commissioners of Indian River County, Florida, and the corporate seal of said Board shall be affixed thereto, attested by the Clerk of said Board. Interest coupons attached to each of said Refunding Bonds shall be executed with the facsimile signatures of the said Chairman and Clerk, and said officials, by the execution of said bonds, shall adopt as and for their own proper signatures their respective facsimile signatures on,each of said coupons. Section 4. That said Refunding Bonds, the. coupons thereto attached, and the validation certificate to be endorsed thereon; shall be in substantially the following form: UNITED STATES OF AMERICA STATE OF FLORIDA COUNTY OF INDIAN RIMER Bond No.SPECIAL ROAD AND BRIDGES DISTRICT NO. 4 $10000.00 ROAD AND BRIDGE REFUNDING BOND SERIES 1941 KNOW ALL LIEN BY THESE PRESENTS: That Special Road and Bridge District No. 4, in the County of Indian River, State of Florida, by and through the Board of County Commissioners of said County and State, as the governing authority bf said District, hereby acknowledges itself to be indebted, and, for value received, hereby promises tD pay to the bearer on the first day of January, A. D. 19 the prin6ipal sum of ONE THOUSAND DOLLARS and to pay interest on said sum at the rate of four per cent. (4%) per annum from date hereof until paid, payable semi- annually on the first days of January and July in each year, such interest to the maturity date of this bond to be paid upon presentation and surrender of the attached coupons as they sever- ally become due. Both principal and interest of this bond are payable in lawful money of the United States of America at Manufacturers Trust Company, in the City of New York, New York; and for the prompt1payment of this bond,. -and the interest thereon, as the same become due, the full faith, credit and taxing power of said Special Road and Bridge District are hereby irrevocably pledged to the same extent and with like force and effect as the some were pledged for payment of the indebtedness refunded hereby. This bond is one of an issue of Refunding Bonds of like date and tenor, except as to numbers and maturities, aggregating $417,000.00, numbered 1 to 417, inclusive. The said Board of County Commissioners, for and in behalf of said District, hereby covenants with the holders of the Refunding Bonds of the issue of which this bond is one that for the payment of the principal and interest thereof, as the same shall become due, it will levy taxes in amount's sufficient to provide therefor upon all property within said District excepting that property which was exempted from taxation by the Constitution and laws of Q Florida as the same were in force and effect at the time of the creation of the indebtedness refunded by said Refunding Bonds; that all taxes levied for the payment of the principal and interest of said Refunding Bands of the issue of which this bond is one, including taxes upon homesteads, will be -collected in cash at the same time and in the same manner as operating and. governmental ad valorem taxes levied by Indian River County and by Special Road and Bridge t 465 District, and the contractual rights and remedies for the enforcement of the bonded indebted- ness evidenced by the outstanding bond hereby.refunded shall appertain to this bond and the taxes securing the same indenpendn.of any restrictions or limitations thereon enacted by the Legislature of the State of Florida, or otherwise taking effect on and after November 6, 1934. IT IS HEREBY CERTIFIED AND RECITED that this negotiable bond is issued under the authority of and in full compliance with the Constitution and statutes of the State of Florida, including the General Refunding Act .of 1931, being Chapter 15772, General Laws of Florida, 1931, and pursuant to a resolution duly adopted by the Board of County Commissioners of Indian River County, Florida, and is issued as a continuation, extension, merger and renewal of a like amount of valid subsisting bonded indebtedness of said Special Road and Bridge District No. 4 in said County and/State, incurred prior to November 6, 1934, and outstanding at the date of the passage of said resolution, and for the purpose of refunding said indebtedness; and that all acts, conditions and things required to happen, exist, and be performed precedent to and in the issuance of this bond have happened, exist, and have been performed in due time, form and manner according to law; that the total bonded indebtedness of said Special Road and Bridge District, inbluding this bbnd, does not exceed, and that the total indebtedness of said District at the time of the creation of the indebtedness refunded hereby, including said in- debtedness, did not then exceed any Constitutional or statutory limitation thereon. IN WITNESS WHEREOF, the Board of County Commissioners of said County of Indian River,j State of Florida, for and in bbhalf of said Special Road and Bridge District No. 4 in said County and State, has issued this bond and has caused the same to be signed by its Chairman and the corporate seal of said Board to be affixed hereto, 'attested by the Clerk of said Board, and has caused the interest coupons hereto attached to be executed with the facsimile signature of the said Chafrman and. Clerk, all as of the first day of January, A. D. 1941. (SEAL) Attest: lerk, , he Board o ounty omm ss oners o the County of Indian River,State of Florida. No._.`.. Una7:rMan, Tne noara or noun ers of the iounty of Indian State of Florida. (FORK OF COUPON FOR SEAQ -ANNUAL INTERN PAYMENTS) ver, $20.00 ss On the first day of , 19 , Special Road and Bridge District No. 4, in the County of Indian River, State of Florida, will pay to the bearer at Manufacturers Trust Company, in the City of New York, N. Y., the sum of 'DOLLARS as provided in and for the semi-annual interest then due upon its Road and Bridge Refunding Bond, Series 1941, dated January 1, 1941, No.�. Clerk, The Board of County ommIss oners of CEaftmani, He Board of County Commissioners,0 the County of Indian River, State of Florida. the County of Indian River, State of Florida. (FORM FOR VALIDATION CERTIFICATE) Validated and confirmed by decree of the Circuit Court of the Ninth Judicial Circuit of Florida, in and for Indian River County, rendered on the day of 9194 _. an. County, Florida. Section 5(a). That for the prompt payment of the principal of and the interest upon all of said Refunding Bonds as the same shall become due which are issued pursuant to this resolution, the full faith, credit and taxing power of said District are hereby irrevocably pledged to the same extent and with'like force and effect as the same were pledged for payment of the indebtedness refunded by said refunding Bonds, and the said Board, in behalf of said District, hereby covenants and agrees with the holders of any and all of said Refunding Bonds 1�*ind interest coupons issued under the provisions of this resolution that the said District will make prompt.payment of the same when due. (b) That for the purpose of adequately providing for.the payment of the interest and for the retirement of all of said Refunding Bonds herein authorized to be issued, the said Board, in behalf of said Special Road and Bridge District, hereby covenants and agrees with the holders of said Refunding Bonds that in the annual budget and ad valorem tax levy to be pre- pared and made in the.year 1940, and continuing each year thereafter until all of said Refund- ing Bonds and interest thereon have been retired, there shall be includeda levy of a current ad valorem tax on all property within said District subject to taxation for the payment of the .bonded indebtedness refunded thereby, which tau shall be in amounts sufficient to produce the ,sum of THIRTY THOUSAND DOLLARS ($30,000.00) in each year, including and deducting therefrom, at .the option of said Board, any revenue other than from ad valorem taxes which may be availabl for such purpose and which is actually so applied. Such taxes shall be levied and computed upon the extended and finally equalized valuation of all property, including homesteads, within said District, excepting only such property as was exempt from taxation under the Constitution and laws of Florida which were in force and effect at the time of the creation of the indebtedness represented by the outstanding bonds to be refunded hereunder. The taxes so levied shall be in addition to all other taxes levied by or on behalf of said District, and the proceeds thereof al of all tax certificates and tax deeds issued therefor are hereby appropriated and shall be used exclusively for the.purpose for which the same are levied, and, so long as any of said Refund- ing Bonds are outstanding, the, respective annual tax levies shall be increased when necessary to provide sufficient funds for the actual interest and principal requirements of said bonds fo; the year next succeeding that in which the budget is being made and prepared. -- (c) That it is hereby specifically understood and agreed that, in the event surplus funds should become available in the Interest and Sinking Fund hereinabove provided for said issue of Refunding Bonds hereby authorized, over and above iit erect and principal or sinking fund requirements, after making due allowance -for interest, and principal ( if any), maturing at the next semi-annual payment period and making reasonable allowance for anticipated receipts said surplus funds may be used for the purpose of purchasing Refunding Bonds of.said issue, sud purchases to be made in any manner allowed by law. (d) That any lawful expenses pertaining to this refunding, including specifically the payment to R. F. Crummer & Company, or its assignee, of a sum equal to two and one-half per cent. (2) of the par value of Refunding Bonds issued hereunder, shall be paid out of the Interest and Sinking Fund established to service the Refunding Bonds herein authorized. Said sum so to be paid shall be evidenced by certificates issued by the Clerk of the Board of County Commissioners of Indian River County, Florida, setting forth the Refunding Bonds issued and the amounts due, and said certificates shall be paid out of said Interest and Sinking Fund from moneys therein available each six (6) months after interest, and principal (if any), then due has been paid and before any disbursements are made from said fund for any purpose except for the payment of interest, and imincipal (if any), due on the Refunding Bond issue herein author- ized. No surplus shall be deemed to exist under the next preceding paragraph of this resolution until all certificates issued to evidence said sums shall have been paid in full. (e) That all of said Refunding Bonds, and interest thereon, shall be payable in law- ful money of the United States of America at Mandfacturers Trust Company, in the City of New York, New. York. (f) That the provisions hereinbefore made for an Interest and Sinking Fund to pay the Refunding Bonds hereby authorized, and interest thereon, shall inure solely and only to the payment of interest upon and the payment or purchase of the principal of said Refunding Bonds, and any funds now or hereafter available for the payment of the outstanding bonded indebtedness id 1* 1 1 1 1 authorized. to be refunded shall be used for the payment of the interest upon and the payma nt or purchase of the principal of the Refunding Bonds hereby provided -to be,issued. It -is hereby specifically oovenanted and agreed that, to the extent allowed by law, any funds that may here, after become available for the .exclusive payment of the presently outstanding bonded indebtedn shall be eonverted.into the Interest and Sinking Fund for the issue of Refunding Bonds hereby authorized., and as a fund in addition to -the sums hereinabove provided to be appropriated annu- ally for tha said Refunding Bonds, and shall be used and applied only in the' manner in which said Refunding Bond Interest and Sinking Fund moneys are herein provided to be used. Section 6(a). That said Board, for and in behalf of said District, hereby covenants that, notwithstanding the provisions of any laws inconsistent with the teams of this resolutio the said District will not accept anything but lawful money of the United States of Ameri c&An payment or satisfaction of the taxes required to be levied or pledged hereunder for the paymen of the interest upon and for the payment orpnr®hase *of the principal of the Refunding Bonds hereby authorized to be issued, and that said taxes will be collected at the same time and in the same manner as other taxes which may be levied by Indian River County or by said Special Road and Bridge District. (b) That said Board hereby further covenants that notwithstanding Section 79 Article Z, of the Constitution of the State of Florida, added thereto by amendment ratified November 6, 1934, and any legislation enacted pursuant thereto, it will levy taxes upon all homesteads within said Special Road and Bridge District for the payment of the principal and interest of said Refunding Bonds to the same extent that other property in said Distridt may be liable to taxation therefor. (c) The said Board, in behalf of said District, hereby further covenants and agrees that so long as any of the Refunding Bonds authorized hereby.may be outstanding, said District will not avail itself of any legislation impairing or modifying the obligations of the District on the indebtedness refunded by said Refunding Bonds or the covenants of the District contained in said bonds;,that said Refurd ing Bonds shall constitute a continuation, extension, merger and renewal of the indebtedness evidenced by the outstanding bonds thereby refunded; that said Refunding Bonds shall have and are hereby declared to have the same security.and source of pay- ment as the indebtedness thereby refunded, and that all contractual rights and remedies which were available for the support and enforcement of the bonded indebtedness to be refunded here- under shall be available for the support and enforcement of said Refunding Bonds hereby provide to be issued. (d) That -all covenants, representations, agreements, and undertakings herein set out, each of as well as those appearing on the face of/said Refunding Bonds, shall constitute a contract with the holders of the Refunding Bonds, which contract shall be enforceable by suit, action or mandamus on behalf of any bondholder in any Court of competent jurisdiction whether or not a monetary default shall then have occurred in the payment of the principal or interest of such Refunding Bonds. Section 7(a). That the said Refunding Bonds are hereby authorized to be executed as soon after the adoption of this resolution as may be, and, promptly upon the completion of the validation of the bonds as provided in Section 10 hereof, said executed Refunding Bonds, with the interest coupons thereto attached, shall be by the Clerk of said Board deposited with -the First National Bank of Chicago, in the City of Chicago, Illinois, as 'Escrow Agent, with appropriate directions that as and when the bonds herein authorized to be refunded are surren- dered, there shall be delivered in exchange therefor a like amount 'of said Refunding Bonds, all pursuant to and as contemplated by the agreement here inbef ore identified and pursuant to which R. E. Crummer & Company was employed to assist said Board in the refinancing of the outstanding btedness of said Special Road and Bridge District. Said Escrow Agent shall be authorized and directed to cancel the bonds so surrendered and return same to the Clerk of said Board with, proper report indicating the particular Refunding Bonds delivered in exchange therefor. (b) That such part of said Refunding Bonds authorized by this resolution as are not exchanged for presently outstanding bonds, pursuant to the provisions of paragraph (a) of this Section, may be sold in the manner prescribed by law. The Board may hereafter provide therefor by resolution under authority of the General Refunding Act of 1931;`and, as to any of said Refunding Bonds sold under the terms hereof, said bondllso sold sUall be delivered and paid for at such time and in such manner. that the proceeds derived therefrom may be forthwith transmitt, to the paying bank of the outstanding callable bond issued' being refunded hereby, said trans- mittal to be under instructions that the said proceeds shall be applied to the retir®ment of the outstanding bonds so called for payment. The delivery of and payment for said Refunding Bonds shall be made at a time only sufficiently in advance of the redemption date of the call bonds that the proceeds thereof may be available at the paying bank on the effective date of t call for redemption; provided, however, that only such amount of Refunding Bonds shall be sold as may be necessary to provide funds for the retirement of such of the outstanding callable bonds as cannot beretired from funds in the Interest and Sinking Fund account on the day of a such sale. (c) That interest shall be paid on all outstanding bonds to the date of the surrender thereof, or to the effective date of a call in the event of the exercise option to call said outstanding bonds for payment before maturity., and interest .shall -begin to accrue on the Re- funding Bonds as of the date of delivery thereof, and all interest coupons on said Refunding Bonds which shall have matured prior_fto said date of delivery shall be detached and cancelled by mutilation; provided, however, that if delivery is made at any time except upon an interest pay ment date common to both the outstanding bonds and the Refunding Bonds, interest accrued on the outstanding hands and on the said Refunding Bonds, respectively, shall be off -set against each other and the net difference adjusted in cash as the circumstances may require. (d) That in the event.any part of the said Refunding Bonds authorized by this reso- lution are to be sold, it shall be the duty of the Clerk of said Board to give due notice of redemption of ell unmatured outstanding bonds representing indebtedness to be refunded by the bonds so to be sold, in the manner required by said outstanding bonds to be refunded. (e) That it is hereby declared and intended that said Refunding Bonds are to be issued as of January 1, 1941, for the purpose of refinancing, as of that date, the like amount of indebtedness of said District then existing as hereinbefore referred to. Section 8. That the said Refunding Bonds shall be exchanged on the basis of par for par'for the bonds authorized to be refunded hereunder according to the following schedule, the indicated Refunding Bonds to be exchanged indiscriminately for any of the outstanding bonds listed on thecorresponding line or lines under the title "Bonds to be Exchanged Therefor"; REFUNDING BONDS BONDS TO BE EXCHANGED THEREFOR Numbers Special Road and Bridge District No. 49 (Inclusive) of Indian River County, Florida. 1 to 417 (ROAD AND BRIDGE REFUNDING BONDS, DATED JANUARY 1, (1937, numbered 1 to 360, 367 to 423, all numbers (inclusive. Section 9.., That.,if any clause, section, paragraph or provision of this resolution or of the Refunding Bonds hereby authorized be declared unenforceable by any Court of final juris- diction, it shall not affect or invalidate any remainder thereof, and, if -any of the Refunding Bonds hereby authorized be adjudged illegal or unenforceable, the holders thereof shall be entitled to be subrogated to the rights of the holders of the indebtedness hereby provided to be refunded thereby and as such enforce their claims for payment. 1 1 1 is Section 10. That Charles A. Mitchell, Attorney at Law, be and he is hereby authorizes and directed to'institute appropriate proceedings in the Circuit Court of the Ninth Judicial Circuit in and for Indian River County, Florida, for the validation of said Refunding Bonds, and the Chairman and the*Clerk of said Board of County Commissioners are hereby authorized to verify any pleadings in such proceedings, and to impress thereon the corporate seal of said Board. passage.. Section 11. That this resolution shall be in Hall force and effect from and after it. PASSED and APPROVED December 3rd., 1940. ( SEAM. ) cneirman, me noara or county commissioners Attest:, of the County of Indian River, State of Florida. Douglas Baker Clerk, he Board of County Co ss oners of the County of Indian River, State of Florida. It was ordered Richard Carter, Operator of Motor'Patrol receive the sum of $90.00 per month until the further orders of the Board. On motion made by Frank C. Vickers, seconded by W. C. Graves, Jr. and carried, 3.3. Carter, Road Superintendent, was authorized to purchase a Clearifier for the Motor Patrol in the sum of $128.00 also a Rotary Water Pump with two inch stick rotary for the sum of $195.00. Ron. W. R. Duncan, Tax Assessor, was authorized to purchase Ylourescant light fist for the Assessorts.office,said fixtures to cost approximately $50.00. It was ordered that the time for execution of deeds of right-of-way of Road No. 30 be extended to.January 1st, 1941, and after such date condemnetion proceedings would be insti- tuted to obtain righttiof-ways asy deemed advisable. Plat of Replat of Wallts Terrace (Wabasso) was presented for approval by this Board in conformity with law. E. E. Carter, Road Superintendent and County Engineer was instructed to execute approval of the Plat on behalf of the Board of County Commissioners. It was moved by W. C. Graves, Jr., seconded by Albert O. Helseth and carried that Charles A: Mitchell, Attorney for the Board be authorized and instructed to proceed with the preparation of agreements to be given property owners whereby said property owners would con- vey to the State of Florida certain described lands for Highway purposes on State Road No. 30. The conditions to be set forth in the agreements are to be decided upon by Attorney Mitchell and E. E. Carter, Road Superintendent and County Engineer. The severallbills and accounts against the County having been audited, were examined and found correct were approved and warrants issued in settlement of same. Such bills and accounts being on file in the office of the Clerk of the Circuit Court. The Warrants- so :issued from the respective funds being listed in the supplemental minute book as -provided by the rul ee of the State Auditor, reference to such record and the list so recorded being made a part of these minutes. The County Depository filed- its monthly statement, showing receipts and disburse - meats of the various funds which having been audited was found to be correct. There being no further business on motion made, seconded and carried the Board then adjourned until Tuesday, December 17th., 1940 at 7:30 P. M. ATT T: CLMK.