04/10/1991 Special
UU 165
Special Meeting
Board of County Commissioners
Wednesday, April 10, 1991
Key West
..--
. A Regular Meeting of the Monroe County Board of
County Commissioners convened at 1:30 p.m. on the above date
in the Chapel at the Public Service Building on Stock Island
in Key West. Present and answering to roll call were
Commissioner Earl Cheal, Commissioner Douglas Jones, and
Mayor Pro Tern Jack London. Absent from the meeting was
Commissioner John Stormont. Mayor Wilhelmina Harvey entered
the meeting at 1:45 p.m. and assumed the Chair. Also pre-
sent were Danny L. Kolhage, Clerk; Randy Ludacer, County
Attorney; Tom Brown, County Administrator; County Staff;
members of the Press and Radio; and the general public.
All stood for the Invocation and Pledge of
Allegiance,
Lavon Wisher of Public Financial Management and
Judson Freeman of Squire, Sanders & Dempsey, Bond Counsel,
addressed the Board.
Motion was made by Commissioner Cheal and seconded
by Commissioner London to adopt the following Resolution
amending a Resolution of the Board of County Commissioners
entitled:
"A Resolution of the Board of County
Commissioners of Monroe County, Florida,
providing for the advance refunding of
the outstanding Refunding Improvement
Bonds, Series 1985, of the Monroe County
Municipal Service District; authorizing
the issuance of not exceeding $11,000,000
Refunding Improvement Bonds, Series 1991,
to finance the cost thereof, providing
for the payment of the Bonds from special
assessments levied against benefited
property in the County and certain other
funds of the District; making certain
covenants and agreements in connection
therewith; and providing an effective
date."
duly adopted on March 12, 1991, by providing additional
references to the Assessment Ordinance, revising certain
findings of the Board, changing the redemption date for the
Refunded Bonds, requiring the deposit of certain bond pro-
ceeds into the Renewal and Replacement Fund, making certain
changes regarding the Bond Amortization Account and the
Reserve Account, changing the test period and coverage for
the additional Bond provisions, and making certain other
-- changes requested by District Staff, the Financial Advisor
to the District and the Municipal Bond Insurer; and pro-
viding an effective date. Roll call vote was unanimous with
Commissioners Jones and Stormont not present.
RESOLUTION NO. 133-1991
See Res. Book No. 98 which is incorporated herein by
reference.
UU 1 6 6
Motion was made by Commissioner Cheal and seconded
by Commissioner London to adopt the following Resolution
fixing the date, denominations, maturity schedule, interest
rates, interest payment dates, redemption provisions and
bond registrar, paying agent, escrow holder and custodial
trustee for $9,570,000 Refunding Improvement Bonds, Series
1991, of the Monroe County Municipal Service District,
Monroe County, Florida; awarding the bonds at negotiated
sale to the purchaser; approving the form and dissemination
of the official statement for the bonds; approving the forms
of escrow deposit agreement and custodial trust agreement;
cancelling authorization for the issuance of the balance of
the bonds; authorizing all other necessary action in connec-
tion with the issuance of the bonds; and providing an effec-
tive date. Roll call vote was unanimous with Commissioners
Jones and Stormont not present.
RESOLUTION NO. 134-1991
See Res. Book No. 98 which is incorporated herein by
reference.
Motion was made by Commissioner London and
seconded by Commissioner Cheal to authorize execution of a
Bond Purchase Agreement concerning the $9,500,000 Monroe
County Municipal Service District Refunding Improvement
Bonds, Series 1991. Roll call vote was unanimous with
Commissioners Jones and Stormont not present.
There being no further business, the meeting was
adjourned.
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