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Resolution 343-1980RESOLUTION NO. 343 A RESOLUTION AMENDING AND SUPPLEMENTING RESOLUTION NO. 328-1980 DULY ADOPTED ON N OVEMBER 19, 1980, BY THE BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA, ENTITLED: "A RESOLUTION PROVIDING FOR THE ISSUANCE OF NOT EXCEEDING $4,000,000 IMPROVEMENT BONDS, SERIES 1980, ANTICIPATION NOTES OF MONROE COUNTY MUNICIPAL SERVICE DISTRICT, MONROE COUNTY, FLORIDA, IN ANTICIPATION OF THE RECEIPT BY THE DISTRICT OF THE PROCEEDS FROM THE SALE OF ITS NOT EXCEEDING $8,000,000 IMPROVEMENT BONDS, SERIES 1980; AND PROVIDING AN EFFECTIVE DATE." BY AUTHORIZING NOTES ISSUED IN BEARER FORM WITHOUT COUPONS TO ONLY BE REGISTRABLE AS TO BOTH PRINCIPAL AND INTEREST; FIXING THE PAYING AGENT FOR THE NOTES; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS (hereinafter called "Board") OF MONROE COUNTY, FLORIDA, the governing body of the Monroe County Municipal Service District (hereinafter called "District"), that: SECTION 1. AUTHORITY FOR THIS RESOLUTION. This resolu- tion is adopted pursuant to 5215.431, Fla. Stat. (1979), as amended, and other applicable provisions of law. SECTION 2. FINDINGS. mined and declared that: It is hereby ascertained, deter- A. The Board heretofore duly adopted on November 19, 1980, Resolution No. 328-1980 entitled: "A RESOLUTION PROVIDING FOR THE ISSUANCE OF NOT EXCEEDING $4,000,000 IMPROVEMENT BONDS, SERIES 1980, ANTICIPATION NOTES OF MONROE COUNTY MUNICIPAL SERVICE DISTRICT, MONROE COUNTY, FLORIDA, IN ANTICIPATION OF THE RECEIPT BY THE DISTRICT OF THE PROCEEDS FROM THE SALE OF ITS NOT EXCEEDING $8,000,000 IMPROVEMENT BONDS, SERIES 1980; AND PROVIDING AN EFFECTIVE DATE." (hereinafter called "Resolution"). B. It is necessary and desirable to amend the Resolution to authorize notes issued in bearer form without coupons to only be registrable as to both principal and interest. C. It is necessary and desirable to fix the paying -1- U 5-3 agent for the notes. SECTION 3. AMENDMENTS TO RESOLUTION. A. Section 9 of the Resolution is hereby amended to read as follows: "SECTION 9. NEGOTIABILITY AND REGISTRATION. The notes and the coupons, if any, appertaining thereto shall be and shall have all of the qualities and incidents of negotiable instruments under the laws of the State of Florida, and each successive holder, in accepting any of such notes or coupons, shall be conclusively deemed to have agreed that such notes and coupons shall be and have all the qualities and incidents of negotiable instruments under the laws of the State of Florida. The notes may be registered at the option of the holder as to principal only or as to both principal and interest at the office of the Clerk of the Board as Registrar, or such other Registrar as may be hereafter duly appointed, such registration to be noted on the back of the notes in the space provided therefor. After such registration as to principal only or as to both principal and interest, no transfer of the notes shall be valid unless made at such office by written assignment of the registered owner or by his duly authorized attorney in a form satisfactory to the Registrar and similarly noted on the notes, but the notes may be discharged from registration by being in like manner transferred to bearer and thereupon transferability by delivery shall be restored. At the option of the holder, the notes may thereafter again from time to time be registered or transferred to bearer as before. Registration as to principal only shall not affect the negotiability of the coupons which shall continue to pass by delivery. Notwithstanding the foregoing, notes issued in bearer form without coupons shall only be registrable as to both principal and interest." B. The registration provisions contained in the note form in Section 10 of the Resolution are hereby amended to read as follows: MPM PROVISION FOR REGISTRATION ( For coupon notes) This Note may be registered in the name of the holder on the books to be kept by the Clerk of the Board of County Commissioners of Monroe County, Florida, as Registrar, or such other Registrar as may hereafter be duly appointed, as to prin- cipal only or both principal and interest, such registration being noted hereon by such Registrar in the registration blank below, after which no transfer shall be valid unless made on the books by the registered holder or attorney duly authorized and similarly noted in the registration blank below, but it may be discharged from registration by being transferred to bearer, after which it shall be transferable by delivery, -but it may be again registered as before. The registration of this Note as to principal only shall not restrain the negotiability of the coupons by delivery, but the coupons may be surrendered with the interest made payable only1to the registered holder, in which event the Registrar shall note in the registration blank below that this Note is registered as to interest as well as principal; and thereafter the interest will be remitted by mail to the registered holder. This Note, when converted into.a Note registered as to both principal and interest, may be reconverted into a coupon Note and again converted into a Note registered as to both principal and interest, as hereinbefore provided. Upon reconversion of this Note, when registered as to both principal and interest, into a coupon Note, coupons representing the interest to accrue upon this Note to the date of maturity shall be attached hereto by the Registrar, and the Registrar shall note in the registration blank below whether this Note is registered as to principal only or payable to bearer. DATE OF. IN WHOSE NAME MANNER OF SIGNATURE OF REGISTRATION REGISTERED REGISTRATION REGISTRAR PROVISION FOR REGISTRATION (For bearer notes without coupons) This Note may be registered in the name of the holder on the books to be kept by the Clerk of the Board of County Commissioners of Monroe County, Florida, as Registrar, or such other Registrar as may hereafter be duly appointed, as to both principal and interest, such registration being noted hereon by such Registrar in the registration blank below, after which no transfer shall be valid unless made on the books by the registered holder or attorney duly authorized and similarly noted in the registration blank below, but it may be discharged from registration by being transferred to bearer, after which it shall be transferable by delivery, but it may be again registered as before. Upon reconversion of this Note, when registered as to both principal and interest, into a bearer Note, the Registrar shall note in the registration blank below that this Note is payable to bearer. -3- DATE OF IN WHOSE NAME SIGNATURE OF REGISTRATION REGISTERED REGISTRAR w SECTION 4. PAYING AGENT. The paying agent for the notes shall be Florida Keys First State Bank, Key West, Florida. SECTION S. REPEALING CLAUSE. All resolutions or parts thereof of the Board in conflict with the provisions herein con- tained are, to the extent of such conflict, hereby superseded and repealed. SECTION 6. EFFECTIVE DATE. This resolution shall take effect immediately upon its adoption. Passed and adopted by the Board of County Commissioners of Monroe County, Florida, at a regular meeting held on the 16th day of December, A.D. 1980. (Seal) BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA airman Attest:,;r Cler �c" QE