HomeMy WebLinkAbout2015-095EXECUTION COPY
RESOLUTION NO -2,015- 095
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY,
FLORIDA, AUTHORIZING THE REDEMPTION OF A
PORTION OF THE COUNTY'S WATER AND SEWER
REVENUE REFUNDING BONDS, SERIES 2005;
PROVIDING CERTAIN OTHER MATTERS IN
CONNECTION THEREWITH; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, on March 9, 2005, the Board of County Commissioners of Indian River
County, Florida (the "County" or the "Issuer") issued its Water and Sewer Revenue Refunding
Bonds, Series 2005 (the "Series 2005 Bonds") pursuant to Resolution No. 93-80, as amended and
supplemented (collectively, the "Existing Resolution") for purposes of refunding certain prior
indebtedness; and
WHEREAS, the Series 2005 Bonds are subject to optional redemption on and after
September 1, 2015; and
WHEREAS, the County desires to redeem a portion of the Series 2005 Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows:
SECTION 1. AUTHORIZATION OF PARTIAL REDEMPTION. The County
hereby authorizes the redemption, from available amounts derived from water and wastewater
revenues, of up to $7,200,000 in aggregate principal amount of the Series 2005 Bonds on any
date after September 1, 2015, the exact principal amount and date of redemption to be
established by the County finance director.
SECTION 2. AUTHORIZATION OF CERTAIN ACTION. The County hereby
authorizes the publishing of a notice of redemption to accomplish the foregoing and the payment
of all costs associated with such redemption.
SECTION 3. GENERAL AUTHORITY. The members of the Board of County
Commissioners of the County and the officers, attorneys and other agents or employees of the
County and the Clerk are hereby authorized to do all acts and things required of them by this
Resolution or the Existing Resolution, or desirable or consistent with the requirements hereof or
the Existing Resolution, for the full punctual and complete performance hereof or thereof. Each
member, employee, attorney and officer of the County is hereby authorized and directed to
execute and deliver any and all papers and instruments and to be and cause to be done any and
all acts and things necessary or proper for carrying out the transactions contemplated hereunder.
The Chairman and/or the Clerk are hereby authorized to execute such tax forms or agreements as
shall be necessary to effect the transactions contemplated hereby.
SECTION 4. EXISTING RESOLUTION TO CONTINUE IN FORCE. Except as
herein expressly provided, the Existing Resolution and all the terms and provisions thereof,
including the covenants contained therein, are and shall remain in full force and effect and
applicable to the Series 2005 Bonds.
SECTION 5. SEVERABILITY AND INVALID PROVISIONS. If any one or more
of the covenants, agreements or provisions herein contained shall be held contrary to any express
provision of law or contrary to the policy of express law, even though not expressly prohibited,
or against public policy, or shall for any reason whatsoever be held invalid, then such covenants,
agreements or provisions shall be null and void and shall be deemed separable from the
remaining covenants, agreements or provisions and shall in no way affect the validity of any of
the other covenants, agreements or provisions hereof.
SECTION 6. INCONSISTENT PROVISIONS. All prior resolutions and motions of
the Issuer inconsistent with the provisions of this resolution are hereby modified, supplemented
and amended to conform with the provisions herein contained and except as otherwise modified,
supplemented and amended hereby shall remain in full force and effect.
SECTION 7. EFFECTIVE DATE. This resolution shall take effect immediately upon
its adoption.
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The resolution was moved for adoption by Commissioner Solari, and the motion was
seconded by Commissioner Flescher, and, upon being put to a vote, the vote was as follows:
Chairman Wesley S. Davis AYE
Vice Chairman Bob Solari AYE
Commissioner Peter D. O'Bryan AYE
Commissioner Joseph E. Flescher AYE
Commissioner Tim Zorc AYE
The Chairman thereupon declared the resolution duly passed and adopted this
18th day of August, 2015.
(SEAL)
ATTEST: Jeffrey R. Smith, Clerk of Court
and Comptroller
ler
Approved as to form:
Dylan Reingold, County Attorney
BOARD OF COUNTY COMMISSIONERS OF
INDIAN RIVER COUNTY, FLORIDA
Wesley S. Davis, Chairman
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Attest: Jeffrey R. Smith, Clerk of
Circuit Court and Comptroller
Jerk