Resolution 074-1983
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RESOLUTION NO. 074 -1983
RESOLUTION AUTHORIZING ISSUANCE OF TAX
ANTICIPATION WARRANT FOR MUNICIPAL SER-
VICE TAXING DISTRICT NO. l-C OF MONROE
COUNTY, FLORIDA.
WHEREAS, the Board of County Commissioners of Monroe County,
Florida, acting as the Board of Governors of Municipal Service
Taxing District No. l-C of Monroe County, Florida, desires to borrow
the sum of $50,000.00, and to repay the said loan, together with
interest thereon as set forth hereinafter, from anticipated tax
on receipts to be received in said District No. l-C from tax revenue
on taxable property in Municipal Service Taxing District No. l-C
for the fiscal year 1983-84, and
WHEREAS, the MARINE BANK OF MONROE COUNTY has agreed to loan
said money to said Board of County Commissioners of Monroe County,
Florida, acting as the Board of Governors of Municipal Service
Taxing District No. l-C of Monroe County, Florida, at an interest
rate of 8.45% per annum, now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MONROE
COUNTY, FLORIDA, ACTING AS THE BOARD OF GOVERNORS OF MUNICIPAL SERVICE
TAXING DISTRICT NO. l-C OF MONROE COUNTY, FLORIDA, as follows:
1. That the sum of $50,000.00, together with interest thereon
at the rate of 8.45% per annum from date, until fully paid, be and
the same is hereby authorized to be borrowed from the MARINE BANK
OF MONROE COUNTY, a banking corporation existing under the laws of
the State of Florida, for the purpose of purchasing one emergency
vehicle consisting of one ambulance and related equipment, and as
the Tax Collector shall collect 1983 taxes, he shall pay the same
directly to the District, and concurrently with each such payment
of taxes received, the District shall pay to the Bank in repayment
of said loan, a portion of said taxes collected and remittted to
the Board which bears the same ratio to the principal amount of
the initial debt as to the amount of the taxes so collected bears
to the total amount of taxes anticipated to be collected for 1983.
-2-
In addition to the said periodic payment against principal, the
District shall pay interest as accrued until the full amount of the
principal debt and accrued interest shall have been paid at maturity
on
, 1984, as set forth in
the Promissory Note made and entered into on the above date by and
between the District and the Bank.
BE IT FURTHER RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, acting as the BOARD OF GOVERNORS OF MUNI-
CIPAL SERVICE TAXING DISTRICT NO. l-C OF MONROE COUNTY, FLORIDA,
that the said District is hereby authorized to issue a tax anticipa-
tion warrant and a promissory note payable to the MARINE BANK OF
MONROE COUNTY in the amount of $50,000.00 together with interest
thereon at the rate of 8.45% per annum from date until fully paid,
payable from anticipated tax revenues for the year 1983 as above
set forth, and the Chairman of the Board of County Commissioners
of Monroe County, Florida, acting as the Board of Governors of Muni-
cipal Service Taxing District No. l-C of Monroe County, Florida,
and the Clerk of said Board shall be, and hereby are authorized to
execute the said tax anticipation warrant and promissory note to
deliver the same to the MARINE BANK OF MONROE COUNTY upon the re-
ceipt of the said sum of $50,000.00 by the said District.
Passed and adopted by the Board of County Commissioners of
Monroe County, Florida, acting as the Board of Governors of Monroe
County, Florida, at a regular meeting of said Board held on the
18th day of March, A.D. 1983.
BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, acting
as the BOARD OF GOVERNORS OF
MUNICIPAL SERVICE TAXING DISTRICT
NO.1-C. __ /
By /(j;~ancN~cts'Jf.
I' ,f
Ji ,/'
(Seal)
Attest:
~ '<~ ",. P..:.J.w,O,1:. .
C erk
RAlPH yt ~~UntJ CltRK
APPROVED AS TO FORM
~S~!)e
BY L~ ()
Attorn8'(s Office
PROMISSORY NOTE
The undersigned, BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY,
FLORIDA, acting as the BOARD OF GOVERNORS OF MUNICIPAL SERVICE TAX-
ING DISTRICT NO. l-C OF MONROE COUNTY, FLORIDA, hereby promises to
pay to the order of the MARINE BANK OF MONROE COUNTY, a banking cor-
poration existing under the laws of the United States, with offices
in Marathon, Monroe County, Florida, on or before one year from the
date hereof at the offices of the said MARINE BANK OF MONROE COUNTY
the sum of Fifty Thousand Dollars ($50,000.00), together with in-
terest thereon at the rate of 8.45% per annum from the date hereof
until fully paid. This promissory note is secured by a Tax Antici-
pation Warrant of even date herewith pledging taxes imposed and
collected by the District for the fisacl year 1983-84.
IN WITNESS WHEREOF, the BOARD OF COUNTY COMMISSIONERS OF MONROE
COUNTY, FLORIDA, acting as the BOARD OF GOVERNORS OF MUNICIPAL SER-
VICE TAXING DISTRICT NO. l-C OF MONROE COUNTY, FLORIDA, has caused
this Promissory Note to be signed by the Chairman of said Board,
attested by its Clerk, and delivered to the said MARINE BANK OF
MONROE COUNTY, this ~ day of
fttAtL"
, 1983.
(Seal)
Attest: n~~':~~ ,~", ~!~~q'7~
'\.IIii.~' .'M~~. 11111 aaiilil-l
~.. JV\.P~
0- fJ~rk
BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, acting
as the BOARD OF GOVERNORS OF
MUNICIPAL SERVICE TAXING DISTRICT
NO.1-C.
a c61c? . .,'L-. /l/~ .:~
B "''';;:' 7 \ ""-V'--. ~.? ,/, 0
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C Cha"rman
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~~i.~lA
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY.
BY
AUornBY's Ottics
TAX ANTICIPATION WARRANT
KNOW ALL MEN BY THESE PRESENTS, That the Board of County Com-
missioners of Monroe County, Florida, acting as the Board of
Governors of Municipal Service Taxing District No. l-C of Monroe
County, Florida, will pay the MARINE BANK OF MONROE COUNTY, a bank-
ing corporation existing under the laws of the United States, with
offices in Marathon, Monroe County, Florida, on or before one (1)
year from the date hereof, at the banking offices of the MARINE BANK
OF MONROE COUNTY, aforesaid, the sum of Fifty Thousand Dollars
($50,000.00), together with interest thereon at the rate of 8.45%
per annum from the date hereof until fully paid.
Principal hereof and interest thereon will be paid in lawful
money of the United States of America from the proceeds of taxes
when received, which will be levied by the Board of County Commis-
sioners of Monroe County, Florida, acting as the Board of Governors
of Municipal Service Taxing District No. l-C of Monroe County,
Florida, on all taxabte property in said District No. l-C for the
tax year 1983 for the use of the said District.
This Warrant is issued in anticipation of said taxes so levied
for the tax year 1983, for the use and benefit of said Municipal
Service Taxing District No. l-C, for the purpose of purchasing one
emergency vehicle consisting of one ambulance and related equipment,
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.
IN WITNESS WHEREOF, the Board of County Commissioners of Monroe
County, Florida, acting as the Board of Governors of Municipal
Service Taxing District No. l-C of Monroe County, Florida, has issued
this Warrant and has caused same to be signed by its Chairman and
attested to by its Clerk as of the \ 8....... day of
~,.~h
A.D. 1983.
BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, acting
as the BOARD OF GOVERNORS OF
MUNICIPAL SERVICE TAXING DISTRICT
NO. 1-(l;?.t/1..t ~t(~~~~.
By ..>, ,'~'.. . '-"- ,/
Chairman
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j'.,
:v..:,~
(S 1) .,.,n'll"1'I" CC'T'l""'f
ea RM.PU ~p.U. \"\j lai i t, vL,-~~.\
Attest:
\'<.:AA~ ~. ~,O.t.
~ Clerk
BY