HomeMy WebLinkAbout2015-093RESOLUTION NO. 2015-093
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY,
FLORIDA, AUTHORIZING THE COUNTY
UTILITIES DIRECTOR, OR HIS DESIGNEE, ON
BEHALF OF THE BOARD OF COUNTY
COMMISSIONERS, TO EXECUTE AMENDMENTS
WITH REGARD TO REDUCTION OF INTEREST
RATES RELATING TO LIEN AGREEMENTS FOR
CONNECTION TO EXISTING SYSTEM.
WHEREAS, by Ordinance No. 2015-011, the Board of County
Commissioners authorized, under certain instances, a reduction of the interest rate to
the currently approved annual interest rate charged by the County on lien agreements
for connection to existing system; and
WHEREAS, when a customer qualifies for a reduction of the interest rate,
in order to preserve the priority of the lien, an amendment to both the lien agreement
and promissory note are necessary for recordation in the public records, and
WHEREAS, it is beneficial to streamline the process by authorizing the
Utilities Director to sign on behalf of the County,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that:
1. The above recitals are affirmed.
2. The Utilities Director, or his designee, is hereby delegated authority to
execute Amendments to Lien Agreement for Connection to Existing System in
substantially the form attached hereto, so long as each such amendment bears
the approval signature of the County Attorney or his designee.
RESOLUTION NO. 2015-093
This resolution was moved for adoption by Commissioner
O' Bryan and the motion was seconded by Commissioner
Znrr and, upon being put to a vote, the vote was as follows:
Wesley S. Davis, Chairman Ave
Bob Solari, Vice Chairman Ave
T
Joseph E. Flescher Ave
Tim Zorc AYe
Peter D. O'Bryan Ave
The Chairman thereupon declared the resolution duly passed and adopted
this 18th day of August, 2015.
BOARD OF COUNTY COMMISSION con+nniSs;•..
INDI RIVER COUNTY, FLORIDA."''•'
B 3
Wesley S. Davis, Chairman
ATTEST: Jeffrey R. Smith, Clerk '-yo9• r .'off:
of rt and Compt Iler c0 11
By:
Deputy
Approved as to form and legal
Sufficiency:
By:
Dylan Reingold
County Attorney
7
AMENDMENT TO LIEN AGREEMENT FOR CONNECTION TO EXISTING SYSTEM
This Amendment to Lien Agreement for Connection to Existing System ("Amendment") is made
and entered into this day of , 201_, by and between INDIAN RIVER COUNTY, FLORIDA, a
political subdivision of the State of Florida ("COUNTY"),
and CUSTOMER:
whose address is:
WITNESSETH:
WHEREAS, on the _ day of , 20_, CUSTOMER entered into a Lien Agreement for
Connection to Existing System, recorded in Book , Page _, of the public records of Indian River
County, Florida (the "Agreement"), pertaining to the property with the address and/or legal description
set forth on Exhibit "A" attached hereto; and
WHEREAS, under such Agreement and as reflected in the promissory note attached to the
Agreement, the CUSTOMER agreed to pay off the promissory note over time at an interest rate of %;
and
WHEREAS, on August 18, 2015, the Board of County Commissioners of Indian River County (the
"Board") enacted Ordinance 2015-_, in which the Board authorized the COUNTY to reduce the interest
rate on lien agreements for connection to existing system to the currently approved annual interest rate
charged by the COUNTY if the CUSTOMER makes a lump sum payment of at least ten (10) percent of the
outstanding principal of the loan and if the CUSTOMER has previously made twenty-four (24) consecutive
months of satisfactory payments; and
WHEREAS, CUSTOMER has offered to pay $ , which is at least ten percent of the
outstanding principal of the loan and CUSTOMER has made twenty-four (24) consecutive months of
satisfactory payments; and
WHEREAS, pursuant to Ordinance 2015 - under such terms, the COUNTY may reduce the
interest rate set forth in the Agreement from _ %to _ % as reflected in the Amendment to Promissory
Note attached hereto as Exhibit "B".
NOW THEREFORE, for and in consideration of the premises and other good and valuable
consideration, the receipt of which is hereby acknowledged, COUNTY and CUSTOMER agree as follows:
1. The interest rate set forth in Paragraph #2 of the Agreement shall be amended from _% to _%
upon payment of $
2. Except as expressly amended by this Amendment, all other terms and conditions of the
Agreement shall remain in full force and effect.
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3. This Amendment shall be recorded in the public records of Indian River County, Florida.
Signed in the presence of the
following witnesses:
sign:
print name:
sign:
print name:
Approved as to form and legal
Sufficiency:
By:
Dylan Reingold, County Attorney
Signed in the presence of the
following witnesses:
sign:
print name:
sign:
print name:
STATE OF FLORIDA
COUNTY OF INDIAN RIVER
INDIAN RIVER COUNTY, FLORIDA
COUNTY
Vincent M. Burke
Director of Utilities
Authority: Resolution No. 2015 -
sign:
printed name:
CUSTOMER
Acknowledged before me this day of , 201_, by Vincent M. Burke, the Director of
Utilities for INDIAN RIVER COUNTY, a political subdivision of the State of Florida, who executed same on
behalf of and with the authority of its Board of County Commissioners under Resolution No. 2015 -
He is personally known to me.
NOTARY:
sign:
printed name:
SEAL: Commission No.:
Commission Expiration:
2
STATE OF FLORIDA
COUNTY OF INDIAN RIVER
Acknowledged before me this day of
who is personally known to me or produced
(passport or driver's license) as identification.
NOTARY:
sign:
printed name:
SEAL: Commission No.:
Commission Expiration:
201 by
EXHIBIT "A"
[property address and/or legal description]
EXHIBIT "B"
AMENDMENT TO PROMISSORY NOTE
THIS FIRST AMENDMENT TO PROMISSORY NOTE (the "Amendment"), dated as of this _ day of
201_, is entered into by
CUSTOMER:
WHEREAS, CUSTOMER executed that certain Promissory Note on the _ day of , 20_ (the
"Promissory Note"); and
WHEREAS, on August 18, 2015, the Board of County Commissioners of Indian River County (the
"Board") enacted Ordinance 2015-_, authorizing the reduction to the interest rate on lien agreements
for connection to existing system to the currently approved annual interest rate charged by the COUNTY
if the CUSTOMER makes a lump sum payment of at least ten (10) percent of the outstanding principal of
the loan and if the CUSTOMER has previously made twenty-four (24) consecutive months of satisfactory
payments; and
WHEREAS, pursuant to Ordinance 2015-_, and the Amendment to Lien Agreement for Connection
to Existing System, to which this Amendment to Promissory Note is attached, the interest rate set forth
in the Promissory Note can be amended to the currently approved annual interest rate charged by Indian
River County.
NOW, THEREFORE, the Promissory Note is amended as follows:
1. Interest. The interest rate set forth in the Promissory Note is hereby amended from _% to _%.
sign:
printed name:
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CUSTOMER