Ordinance 015-1980
. .
ORDINANCE NO.
15-1980
AN ORDINANCE AMENDING CERTAIN PROVISIONS
OF ORDINANCE NO. 9-1975 OF MONROE COUNTY,
FLORIDA, AS AMENDED AND SUPPLEMENTED,
CONSTITUTING ARTICLE III, SEC. 8-50 AND
SEC. 8-53 OF THE MONROE COUNTY CODE, BY
EXPANDING THE PROVISIONS CONCERNING THE
ISSUANCE OF BONDS BY THE MONROE COUNTY
MUNICIPAL SERVICE DISTRICT; AND PROVIDING
AN EFFECTIVE DATE.
BE IT ENACTED BY T~E BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA:
SECTION 1. AUTHORITY FOR ORDINANCE. This ordinance is
enacted pursuant to Ch. 125, Fla. Stat. (1979), and other appli-
cable provisions of law.
SECTION 2. FINDINGS.
It is hereby found and determined
a s follows:
A. Ordinance No. 9-1975, SS8, 9, 10, 14 and 15 of
Monroe County,' Flor ida, as amended and supplemented
(collectively, the "Ordinance"), and as codified in Article III,
Sec. 8-50 and Sec. 8-53, 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 as a result of the issuance
of, and/or used to pay the principal of, premiums, if any, and
interest on, the bonds, in special accounts created for those
purposes.
SECTION 3. AMENDMENTS TO ORDINANCE. Sections 8, 9, 10,
14 and 15 of the Ordinance, as cO'dified 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 acquisition, construction, impro-
vement or equipment of solid waste disposal facilities in the
district, the district is authorized to issue special assessment
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,
or general obligation notes or certificates 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 deno-
mination or denominations, bear interest 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 Inay be made redeemable
be fore ma tur i ty, at the option of the governing body of the
district, at such price or prices and under such terms and con-
ditions 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 obligations 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, provided
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 facsimile signature or signa-
tures of such officer or officers as shall be designated by the
governing body of the district. 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 be not less than
95% of the par value of the obligations sold.
The principal of and interest on any obligations issued
hereunder may be payable from special assessments levied against
the property specially benefited by the acquisition, construc-
tion, improvement or equipment of the solid waste disposal faci-
lities; provided, however, such special assessments shall never
e xceed thl~ amount by wh ich such property is determi ned to be
benefited. The obligations may be additionally payable from any
other funds of the district derived from sources other than ad
valorem taxes and legally available for such purposes.
Furthermore, the principal of and interest on any obligations
issued hereunder may be payable from ad valorem taxes levied
within the district, without limitation 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 pursuant to
the authority contained in this ordinance and provide for the
rights of the holders hereof. Such refunding obligations may be
issued in an amount sufficient to pay the principal of the
outstanding obligations; the interest due and ~ayable on the
outstanding obligations to and including the flrst 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 refunding
obligations.
For the purposes of this section, the cost of the solid waste
disposal facilities may be deemed to include, 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;
preparation of surveys, plats, assessment rolls, plans and
designs for the facilities; capitalization of interest for a
reasonable period after issuance of the obligations; capitaliza-
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ti6~ of reasonable debt service reserves for the payment of the
obligations; premiums for municipal bond insurance policies; the
exaense of the issuance, authorization and sale of the
ab'l iga t ions, includ i ng advert iseme nts, notices and other pro-
ceedings in connection therewith; the discount on the sale of the
obligations, 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 designatio~ 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 obli-
gations, 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, opera-
tion and purchase of garbage, trash and waste collection and
disposal equipment for the district, and for the payment of the
principal of, premium, if any, and interest on any obligations
issued pursuant to the authority contained herein, as the board
may determine.'
(c) Except as may be provided in resolutions authorizing 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
authorized 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 approved by the board of the district."
SECTION 4.
REPEAL OF INCONSISTENT ORDINANCES.
All
ordinances or parts of ordinances in conflict herewith are hereby
repealed.
SECTION 5.
SEVERABILITY.
If anyone or more of the
provisions of this ordinance should be held contrary to any
express provision of law or contrary to the policy of express
law, though not expressly prohibited, or against public policy,
or shall for any reason whatsoever be held invalid, then such
provisions shall be deemed separate from the remaining
provisions, and in no way affect the validity of all other provi-
sions of this ordinance.
SECTION 6.
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
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350
States for special delivery by registered mail to the Department of
State.
(SEAL)
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ADOPTED:
Auqust 26, 1980
FILED WITH DEPARTMENT OF STATE:
EFFECTIVE:
August 29, 1980
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BOARD OF COUNTY COMMISSIONERS OF
MONROE COU ,FL IDA
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AUqust 29, 1980
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PS FORM 3806 RECEIPT FOR REGISTERED MAIL (CustomerCopv)
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STATE OF FLORIDA
THE CAPITOL
TALLAHASSEE 32304
(904) 488-3680
GEORGE FIRESTONE
SECRETAFlY OF STATE
September 3, 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:
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Receipt of your letter/s of
and certified copy/ies of
County Ordinance/s No./s
Allgll~t- ?q
Monroe
80-15 F:m"rg"oc-,y
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Receipt of
relative to:
(a)
which we have numbered.
Ih)
County Ordinance/s
which we have numbered.
We have filed this/these ordinance/s in this office
September 2. 1980.
The original/duplicate copy/ies showing the filing
date is/are being returned for your records.
Cordially,
\~7<?r ~//tiJ-t(a~
(Mrs.) gancy Kavanaugh
Chief, Bureau of Laws
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