Resolution 037-1982RESOLUTION NO.37 -1982
RESOLUTION AUTHORIZING ISSUANCE OF TAX
ANTICIPATION WARRANT FOR MONROE COUNTY,
FLORIDA.
WHEREAS, the Board of County Commissioners of Monroe County,
Florida, desires to borrow the sum of $1,500,000.00, and to repay
the said loan, together with tax thereon as set forth hereinafter,
from anticipated tax receipts to be received by the County.from
tax revenue on taxable property within the County on the tax roll
for the year 1982, and
WHEREAS, Boulevard Bank has agreed to loan said money to the
County at an interest rate of ,10.48% per annum, now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MONROE
COUNTY, FLORIDA, as follows:
1. That the sum of $1,500,000.00, together with interest
thereon at the rate of 10.48% per annum from date, until fully paid,
be and the same is hereby authorized to be borrowed from Boulevard
Bank, a banking corporation existing under the laws of the State of
Florida, for the purpose of funding the budget requirements of the
Monroe County Sheriff's Department and to afford emergency repairs
to the Monroe County Jail, and the Monroe County Tax Collector shall
be and hereby is directed and authorized to pay all 1982 taxes re-
ceived and disbursed by said Tax Collector for and on behalf of the
County of Monroe to Boulevard Bank and the County of Monroe, jointly,
either by check, voucher, or otherwise, until an amount sufficient
to repay the principal sum of $1,500,000.00, plus accrued interest
as aforesaid, and any other amounts that may be due thereon if the
said sum is borrowed.
BE .IT FURTHER RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, that the said .County is hereby authorized to
issue a tax anticipation warrant and a promissory note payable to
Boulevard Bank in the amount of $1,500,000.00 together with interest
thereon at the rate of 10.48% per annum from date until fully paid,
payable from anticipated tax revenues for the year 1982 as above
set forth, and the Chairman of the Board of County Commissioners of
-2-
Monroe County, Florida, and the Clerk of the said County shall be,
and hereby are authorized to execute the said tax anticipation
warrant and promissory note and to deliver the same to Boulevard
Bank upon the receipt of the said sum of $1,500,000.00 by the said
County.
Passed and adopted by the Board of County Commissioners of
Monroe County, Florida, at a regular meeting of said Board held
on the 12th day of January, A.D. 1982.
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
By ;��0
" "'. 'r ,
ayor/Chairma
(Seal)
Attest:
Clerk - '
i
TAr ANTICIPATION .BAR ANT
aNOiv ALL MEd BY THESE PRESENTS, That the County of 1,1onro`,
State of Florida, a political subdivision or the State of Florida.
will pay Boulevard Bank, a banking corporation existing under the
laws of the United States, with offices in the City of Key West,
Monroe County, Florida, on or'before one year from the date hereof,
at the banking offices of the,jBoulevard Bank, aforesaid, ,the sum of
One Million Five Hundred Thousand Dollars ($1,500,000.00), together
with interest thereon at the -ate of 10.48io per annum from the date
'Hereof until fully paid.
Principal hereof and interest thereon will be paid in lawful�. -
u�ane-- cf tie United States oz I Amner ica from the proceeds of taxes
when received, which will be. levied by the County of Monroe, State
of Florida; on all taxable property in Monroe County, Florida, for
t: e tax year 1982for the use",of .the said 'County.
This Warrant is issued in anticipation of said taxesiso levied
for the tax year 198Z 'for the<,-_ se and benefit of Monroe County,
I
Florida, for the purpose .of fLnd ng the budget requireri.ents for the
Sheriff's Office and to afford emergency repairs to the Monroe
County, Florida, .Jail, and is -;payable, both as to principal and
interest, from the said taxes 'first collected, —which taxes --are hereby
assigned and pledged to the payment of this Warrant.
111 WITNESS WHEREOF, the County of Monroe, State of Florida, has
issued this Warrant and has caused same to be signed by it'is Chairman
and attested to by its Clerk as of the day of ,
A.D. 1982.
I
(Seal)
Attest.
Clerk
BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA
•avor/Cha
PR01��IISSORY NIOTE
The undersigned, COUNTY OF MONROE STATE OF FLOFID_., ; a
pol-Lt;cal subdivision of the State of Florida, hereby pro_ ises
I
?ay to the order of Boulevard' Banff:, a banking corporationexisting
under the laws of the United States, with offices in the City of
Key West, Monroe County, Florida, on or before one year from the
i
date hereof at the offices of the said Boulevard Ban'_ the;sum of
One Million Five Hundred Thousand Dollars ($1,500,000.00);togeather
with interest thereon at the rate of 10.48% per annurn from the date
hereof until fully paid. This promissory rote is secured,by a Tax
Anticipation rlarrar of even date here=.,pith oledging taxes im-Dosed
and collected by iIonroe County., i for id:l , for the fiscal year 1982-
83.
IN WITNESS WHEREOF,,the COUNTY OF MONROE, STATE OF FLORIDA, has
caused this Promissory Note to' be signed by the Chairman of the
Board of County Commissioners of Monroe County, Florida, attested
by its Clerk, and delivered tol"the said Boulevard Bank, this
day of February, ADD. 1982.
COUNTY OF MONROE , STATE, OF FLORIDA
j
By
r and chairman ofi�tl 0 Board
of ounty Ccinmiss-Lone-, Vof
Monroe County, Florida -
.
(Seal)
Attest:
y
"`i ZC1erk�