Resolution 267-1987
James R. Paros, Director
Emergency Services Department
RESOLUTION NO. 267 -1987
RESOLUTION AUTHORIZING ISSUANCE OF TAX
ANTICIPATION WARRANT FOR MUNICIPAL SERVICE
TAXING DISTRICT NO. I-D.
WHEREAS, the Board of County Commissioners of Monroe County,
Florida, acting as the Board of Governors of Municipal Service
Taxing District No. I-D, desires to borrow the sum of $60,000.00
and to repay the said loan, together with interest thereon as set
forth hereinafter, from anticipated tax on receipts to be re-
ceived from tax revenue on taxable property in Municipal Service
Taxing District No. I-D located in Monroe County, Florida, for
the fiscal year 1987-88, and
WHEREAS, Barnett Bank has agreed to loan said money to said
Board at an interest rate of 9.75% per annum, now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, ACTING AS THE BOARD OF GOVERNORS OF
MUNICIPAL SERVICE TAXING DISTRICT NO. I-D, as follows:
1. That the sum of $60,000.00, together with interest
thereon at a rate of 9.75% per annum from date, until fully paid,
be and the same is hereby authorized to be borrowed from Barnett
Bank, a banking corporation existing under the laws of the State
of Florida, for the purpose of purchasing one (1) type III
ambulance, and as the Tax Collector shall collect 1987 taxes, he
shall pay the same directly to the Board, and concurrently with
each such payment of taxes received, the Board shall pay to the
Bank in repayment of said loan, a portion of said taxes collected
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 1987.
In addition to the said periodic
payment against principal, the Board shall pay interest as
accrued until the full payment of the principal debt and accrued
interest shall have been paid at maturity on ,J(L ~ Y '7
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1988, as set forth in the Promissory Note made and entered into~
on the 1<<
day of
~1
, 1987, by and between the
Board and the Bank.
BE IT FURTHER RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA ACTING AS THE BOARD OF GOVERNORS OF
MUNICIPAL SERVICE TAXING DISTRICT NO. I-D, that the Board is
hereby authorized to issue a tax anticipation warrant and a
promissory note payment to Barnett Bank in the amount of
$60,000.00 together with interest thereon at a rate of 9.75% per
annum from date until fully paid, payable from anticipated tax
revenues for the year 1987 as above set forth, and the Chairman
of the Board of County Commissioners of Monroe County, Florida,
acting as the Board of Governors of Municipal Service Taxing
District No. 1- D, and the Clerk of said Board shall be, and
hereby are authorized to execute the said tax anticipation
warrant and promissory note to deliver the same to Barnett Bank
upon the receipt of the said sum of $60,000.00 by the Board.
PASSED AND ADOPTED by the Board of County Commissioners of
Monroe County, Florida, acting as the Board of Governors of
Municipal Service Taxing District No. I-D, at a regular meeting
of said Board held on the ~ day of ~wJj
, A.D. 1987.
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
ACTING AS THE BOARD OF
GOVERNORS OF MUNICIPAL SERVICE
TAXING DISTRICT NO. I-D
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or al.rman / /,"'"
(SEAL)
Attest :PANNX L. KOLHAGE, Clerk
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TAX ANTICIPATION WARRANT
KNOW ALL MEN BY THESE PRESENTS, that the BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA, ACTING AS THE BOARD OF
GOVERNORS OF MUNICIPAL SERVICE TAXING DISTRICT 1-D will pay
Barnett Bank, a banking corporation existing under the laws of
the United States, at its banking offices in ICe,. Vest, Monroe
County, Florida, the sum of SIXTY THOUSAND DOLLARS ($60,000.00)
with interest thereon at the rate of 9.75% per annum from date
hereof until fully paid.
Principal hereof and interest thereon will be paid in lawful
money of the United States of America from the first proceeds of
taxes when received, which will be levied by the County of
Monroe, State of Florida, on all taxable property in Municipal
Service Taxing District No. 1-0 in fiscal year 1987-88 for the
use and benefit of said Municipal Service Taxing District No. 1-D
located in Monroe County, Florida.
This Warrant is is,sued in anticipation of said taxes so
levied for the fiscal year 1987-88 for the use and benefit of
said Municipal Service Taxing District No. I-D, for the amount of
principal and interest due for the fiscal year 1987-88 only to
provide a fund for the purpose of purchasing one (1) type III
ambulance and associated and/or related equipment, and is pay-
able, both principal and interest, and shall be paid solely from
said taxes when collected and not otherwise, which taxes are
hereby assigned and pledged to the payment of this Warrant.
"
IN WITNESS WHEREOF, the BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, ACTING AS THE BOARD OF GOVERNORS OF
MUNICIPAL SERVICE TAXING DISTRICT NO. 1-0, has issued this
Warrant and has caused same to be signed by its Chairman and
attested to by its Clerk as of the !Itii.- day of
~~
, A.D. 1987.
(Seal)
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA,
ACTING AS THE BOARD OF
GOVERHOIS OF MUNICIPAL SERVICE
TAX DISTlI~. 1-D
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PROMISSORY NOTE
The undersigned, BOARD OF COUNTY COMMISSIONERS OF MONROE
COUNTY, FLORIDA, acting as the Board of Governors of Municipal
Service Taxing District No. 1-D, hereby promises ,to pay to the
order of Barnett Bank, a banking corporation existing under the
laws of the United States, with offices in Key West, Monroe
County, Florida, at the offices of the said Barnett Bank, the sum
of Sixty Thousand Dollars ($60,000.00), together with interest
thereon at the rate of 9.75% per annum from the date hereof until
fully paid. This promissory note is secured by a Tax Anticipa-
tion Warrant of even date herewith pledging taxes imposed and
collected by the Board for fiscal year 1987-88.
IN WITNESS WHEREOF the BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, has caused this Promissory Note to be
signed by the Chairman of said Board, attested to by its Clerk
and delivered to the said Barnett Bank, this ~ day of
J.J~
, 1987.
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
(Seal)
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Attest:
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