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Ordinance 014-1980 ORDINANCE NO.14 -1980 AN ORDINANCE OF THE COUNTY OF MONROE, FLORIDA, PROVIDING THAT THE CODE OF ORDINANCES, COUNTY OF MONROE, FLORIDA, BE AMENDED BY REVISING ARTICLE III, SECTION 8-50 BY EXPANDING THE PRO- VISIONS CONCERNING THE ISSUANCE OF BONDS BY THE MONROE COUNTY MUNICIPAL SERVICE DISTRICT; BY REVISING ARTICLE III, SECTION 8-53 BY AMENDING PROCEDURE FOR THE DISPOSITION OF FUNDS BY THE MONROE COUNTY MUNICIPAL SERVICE DISTRICT; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA: SECTION 1. AUTHORITY FOR ORDINANCE. This ordinance 1S enacted pursuant to Ch. 125, Fla. Stat. (1979), and other appli- cable provisions of law. SECTION 2. FINDINGS. It 1S hereby found and determined as follows: A. Ordinance No. 9-1975, 998, 9, 10, 14 and 15 of Monroe County, Florida, as amended and supplemented (collectively, the "Ordinance"), and as codified in Article I II, Sec. 8 - 50 and Sec. 8-5:\, Monroe County Code, contains provisions concerning the issuance of bonds by the Monroe County Municipal Service District (the "District") and the disposition of funds of the District. B. The Board of County Commissioners of Monroe County, Florida, desires to amend the Ordinance to expand the provisions concerning the issuance of bonds and to permit the deposit of the funds of the District generated as a result of the issuance of, and/or used to pay the principal of, premiums, if any, and interest on, the bonds, 1n special accounts created for those purposes. SECTI ON 3. AMENDMENTS TO ORDINANCE. Sections 8, 9, 10, 14 and 15 of the Ordinance, as codified in Article III, Sec. 8-50 and Sec. 8-53, Monroe County Code, are hereby amended to read as follows: "Sec. 8-50. Same - Authorization to issue obligations. In order to implement the purposes contained in this article and to finance the cost of the acquisi- tion, construction, improvement or equipment of solid waste disposal facilities in the district, the district is authorized to issue special assessment or general Page 1 of 4 Pages 3C{3 obligation notes or certificate of indebtedness from time to time (the "obligations"). Such obligations may be issued in coupon form or fully registered form, and may be in such denomination of denominations, bear in- terest at such rate or rates and shall mature at such time or times not exceeding 50 years from their date or dates as may be determined by the governing body of the district. The obligations may be made redeemable before maturity, at the option of the governing body of the district, at such price or prices and under such terms and conditions as may be fixed by the governing body of the district prior to their issuance. The governing body of the district shall determine the place or places of payment of the principal of and interest on the obliga- tions which may be at any bank or trust company within or without the state. The obligations shall be signed either by manual or facsimile signatures of the chair- man and clerk of the governing body of the district, pro- vided that such obligations shall bear at least one signature which is manually executed thereon. The coupons attached to such obligations, if any, shall bear the fac- simile signature or signatures of such officer or officers as shall be designated by the governing body of the dis- trict. The obligations shall have the seal of the district affixed, imprinted, reproduced or lithographed thereon, all as may be prescribed in the resolution or resolutions authorizing the issuance thereof. The obligations may be sold at public or private sale at such price or prices as the governing body of the district shall determine to be in its best interest, provided that such price shall not be less than 95% of the par value of the obligations sold. The principal of and itnerest on any obligations issued hereunder may be payable from special assessments levied against the property specially benefited by the acquisition, construction, improvement or equipment of the solid waste disposal facilities; provided, however, such special assessments shall never exceed the amount by which such property is determined to be benefited. Alternatively, the principal of and interest on any obligations issued hereunder may be payable from ad valorem taxes levied within the district, without limi- tation as to rate or amount or with such limitations as may be fixed by the governing body of the district, after the issuance of such obligations has been approved at a bond referendum duly called and held as provided by law. The district may, pursuant to resolution duly adopted, issue obligations to refund any obligations issued pur- suant to the authority contained in this ordinance and provide for the rights of the holders hereof. Such refund- ing obligations may be issued in an amount sufficient to pay the principal of the outstanding obligations; the interest due and payable on the outstanding obligations to and including the first date upon which the outstanding obligations shall be callable prior to maturity, the dates upon which the principal thereof shall mature, or any dates in between; the redemption premiums, if any; and any expenses of the issuance and sale of such re- funding obligations. For the purposes of this section, the cost of the solid waste disposal facilities may be deemed to include, Page 2 of 4 Pages 3'f'f but not be limited to, the cost of acquisition of sites; legal, engineering, fiscal, architectural fees and fees of any other experts or consultants employed by the district; engineering or architectural studies; prepara- tion of surveys, plats, assessment rolls, plans and de- signs for the facilities; capitalization of interest for a reasonable period after issuance of the obligations; capitalization of reasonable debt service reserves for the payment of the obligations; premiums for municipal bond insurance policies; the expense of the issuance, authorization and sale of the obligations, including advertisements, notices and other proceedings in connec- tion therewith; the discount on the sale of the obli- gations, if any; and such other expenses as are necessary, incidental or appurtenant to the purposes authorized hereunder." "Sec. 8-53. Disposition of funds. (a) The funds of the district shall be deposited in the name of the district in a bank authorized to receive deposits of county funds, which bank shall be designated by a resolution of the board. Such designation of such bank for deposit of funds therein shall be the exercise of due care and diligence on the part of the clerk for the safekeeping of such funds. Except as may be provided in resolutions authorizing the issuance of obligations, no funds of the district shall be paid out or disbursed save and except by warrant signed by the chairman of the governing body of the district and attested to by the clerk. (b) No funds of the district shall be used for any purpose other than the administration of the affairs and business of the district, for the construction, care, maintenance, upkeep, operation and purchase of garbage, trash and waste collection and disposal equipment for the district, and for the payment of the principal of, pre- mium, if any, and interest on any obligations issued pur- suant to the authority contained herein, as the board may determine. (c) Except as may be provided in resolutions author- izing the issuance of obligations, the funds of the district shall be paid out only upon warrant signed by the chairman of the governing body and attested to by the clerk, and having thereto affixed the corporate seal of the district; and no warrant shall be drawn or issued against funds of the district except for a purpose author- ized by this article; and no such warrant against funds of the district shall be drawn or issued until after the account or expenditure for which the same is to be given in payment has been ordered and appproved by the board of the district." SECTION 4. That all ordinances or parts of ordinances in conflict with this ordinance are hereby repealed. SECTION 5. EFFECTIVE DATE. This Ordinance shall be deemed to be filed and shall take effect when a copy has been accepted by the postal authorities of the government of the United Page 3 of 4 Pages ..3 1../5 States for special delivery by registered mail to the Department of State. BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA ~~ By (SEAL) Attest: "-~" ~) /) ,.' -- / / / / L~f~/ <2- - ~... lerk ADOPTED:August 12, 1980 FILED WITH DEPARTMENT OF STATE: August 20, 1980 EFFECTIVE: August 20, 1980 AI'PFIO'IrD AS TO FORM AI!fD t.IGAL $tmtCIENCY. BY Aner".y'. Office Page 4 of 4 Pages 3'-f~ ... wz !. CJo ....> u:~ "'w C 0.... ...... c "':; :. 00 ~ .." c '0 .. .. "' z .5 0 .! E ~ .... ...~ 0 en n..... a: ::> :;.s ... :E oct; . ". .! m: f:;l e LU~ w :;~ o :;;c ~ 0 ~ .... " REGISTERED NO. II 2 J (. Reg. Fee $ Handling $ Charge ) A. ~ Special $ ~ ~ Delivery Return Receipt $ 11""" Restricted ) Delivery $ P.;>stage $ I RECEIVED BY FULL VALUE $ Ralph W White 500 White Street Key West FI ( tD o AIRMAIL POSTMARK OF p--....-- t. '" ~-.< -/ ' ') ':1 , , . . ., \.~I '",:&, \ \ ,:~ ~/ MA\~;~~~E ' on George Firstone See ZIP COpE 33040 of State The i I Tallahassee, FI PS FORM 3806 Oct. 1978 RECEIPT FOR REGISTERED MAIL (OiStomer Copy) ZIP CODe ~ ~^.--''''''--~ ~ C,,';""F .. '"" ~"..".., .., . ~crrda11! {tf ~tat~ STATE OF FLORIDA THE CAPITOL TALLAHASSEE 32304 (904) 488.3680 GEORGF. FIRF.STO~E SECRETARY OF STATE' August; 25, 1980 Honorable Ralph W. White Clerk of Circuit Court Monroe County Courthouse 500 Whitehead Street Key West, Florida 33040 .,........-., Attention: Virginia M. Pinder, Deputy Clerk Dear Mr. White: Pursuant to the provisions of Section 125.66, Florida Statutes, this will acknowledge: .~ Receipt of your 1etter/s of and certified copy/ies of County Ordinance/s No./s August 20, 1980 Monroe 80-13 and(;~~ Emergency .\'I! ") ,-. Receipt of relative to: County Ordinance/~\ ,- (a) '-.' which we have numbered. (b) which we have numbered: ........-:r:~~ We have filed 4:fi,j,s/these ordinance/s in this office ~Auqust 25, ." 1980. 4. The Origina1{du~iicate copy/ies showing the filing date is/are being returned for your records. Cordially, (/Irs.) Nancy Kavanaugh Chief, Bureau-of Laws NK/ mb ," 3 tf1 :"-:"'~L'l'ii:. r' _ .~ ~ J"- :,A ll'~l-..'- - ....