Resolution 005-1983
RESOLUTION NO. 00'; -1983
RESOLUTION AUTHORIZING ISSUANCE OF TAX
ANTICIPATION WARRANT FOR MUNICIPAL SER-
VICE TAXING DISTRICT NO. 2 OF MONROE
COUNTY, FLORIDA.
WHEREAS, the Board of Governors of Municipal Service Taxing
District No. 2 of Monroe County, Florida, desires to borrow the sum
of $70,000.00, and to repay the said loan, together with interest
thereon as set forth hereinafter, from anticipated tax on receipts
to be received by said District No. 2 from tax revenue on taxable
property in Municipal Service Taxing District No. 2 for the fiscal
year 1983-84, and
WHEREAS, the MARINE BANK OF MONROE COUNTY has agreed to loan
said money to said Board of Governors of Municipal Service Taxing
District No. 2 at an interest rate of 7% per annum, now, there-
fore,
BE IT RESOLVED BY THE BOARD OF GOVERNORS OF MUNICIPAL SERVICE
TAXING DISTRICT NO.2 OF MONROE COUNTY, FLORIDA, as follows:
1. That the sum of $70,000.00, together with interest there-
on at the rate of 7% 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 refurbishing one 1976 Ford
Water Tanker/Pumper, and as the Tax Collector shall collect 1983
taxes, he shall pay the same directly to the District, and concur-
rently 'with each such payment of taxes received, the District shall
pay to the Bank in repayment of said loan, a portion of said taxes
collect,ed and remitted 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. 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
-2-
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 GOVERNORS OF MUNICIPAL
SERVICE TAXING DISTRICT NO. 2 OF MONROE COUNTY, FLORIDA, that the
said District is hereby authorized to issue a tax anticipation
warrant and a promissory note payable to the MARINE BANK OF MONROE
COUNTY in the amount of $70,000.00 together with interest thereon
at the rate of 7% 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 Governors of Municipal Service
Taxing District No. 2 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 and to deliver the
same to the MARINE BANK OF MONROE COUNTY upon the receipt of the
said sum of $70,000.00 by the said Disrict.
Passed and adopted by the Board of Governors of Municipal
Service Taxing District No. 2 of Monroe County, Florida, at a
regular meeting of said Board held on the 22nd day of July, A.D.
1983.
BOARD OF GOVERNORS OF MUNICIPAL
SERVICE TAXING DISTRICT NO. 2
By ~~~" ,~>..~'
rman ..::> .1/
(Seal)
........_ ~'IlII "''if''l~!
".'. ..'.!l'...... '. ,- I."". " ,........
[""""" "1" ! ," '''' '\
Attest: itA na W.~'miiCJ \.i1..1..!\I
~r f'v\ e,:,,.lL-! OC
Clerk .
(
~=:~~t
BY ~~t~~ .
Anorney's Office
TAX ANTICIPATION WARRANT
~~OW ALL MEN BY THESE PRESENTS, That the Board of Governors
of Municipal Service Taxing District No. 2 of the County of Monroe,
State of Florida, will pay the MARINE BANK OF MONROE COUNTY, a
banking corporation 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 banking offices of the MARINE BANK
OF MONF~E COUNTY, aforesaid, the sum of Seventy Thousand Dollars
($70,000.00), together with interest thereon at the rate of 7% 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 Governors of
Municipal Service Taxing District No. 2 of Monroe County, Florida,
on all taxable property in said District No. 2 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.2, for the purpose of refurbishing one
1976 Ford Water Tanker/Pumper, 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 Governors of Municipal Service
Taxing District No. 2 of Monroe County, Florida, has issued this
Warrant and has caused same to be signed by its Chairman and attest-
ed to by its Clerk as of the ,;l~,uJ day of
A.D. 1983.
:.\"(1
(Seal)
R-lP'H ~.l.l ,~,..!~!.trr C.,17)i'!
H" ,. ',.1" J,.",
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BOARD OF GOVERNORS OF MUNICIPAL
SERVICE TAXING DISTRICT NO. 2
/7., ".r,.,,", ' rt';~':""i""':'i.".<,"",i;:!~... (~~
By ),/...."",,/' r. . ~';.I/
C Ch;{irrnan
Attest:
~"w.~ 1\\. P....w D.t
t C erk I
.
Attnrney's Office
PROMISSORY NOTE
The undersigned, BOARD OF GOVERNORS OF MUNICIPAL SERVICE TAXING
DISTRICT NO. 2 OF MONROE COUNTY, FLORIDA, hereby promises to pay to
the ord.er of the MARINE BANK OF MONROE COUNTY, a banking corpora-
tion 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 Seventy Thousand Dollars ($70,000.00), together with
interest thereon at the rate of 7% 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 fiscal year 1983-84,
IN WITNESS WHEREOF, the BOARD OF GOVERNORS OF MUNICIPAL SERVICE
TAXING DISTRICT NO. 2 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 .{~I\l ~ day of
:\ l.l'I
, 1983.
BOARD OF GOVERNORS OF MUNICIPAL
SERVICE TAXING D:S}RICT NO'4 f
C/:I~ "t_ ,
/
Chairman
(Seal)
Attest:
nr, CLERK
~,D.,'
APPROVED AS TO FORM
AND L SUFFICIENCY.
,
BY