Resolution 050-1993
RESOLUTION NO.
050 -1993
A RESOLUTION AMENDING A RESOLUTION OF THE BOARD OF
COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA,
ENTITLED:
"A RESOLUTION PROVIDING FOR THE ADVANCE REFUNDING
OF THE OUTSTANDING REFUNDING IMPROVEMENT REVENUE
BONDS, SERIES 1983, OF MONROE COUNTY, FLORIDA;
AUTHORIZING THE ISSUANCE OF NOT EXCEEDING
$2,500,000 REFUNDING IMPROVEMENT REVENUE BONDS,
SERIES 1993, TO FINANCE THE COST THEREOF; PROVIDING
FOR THE PAYMENT OF SUCH BONDS FROM THE RACETRACK
FUNDS AND JAI ALAI FRONTON FUNDS ACCRUING ANNUALLY
TO MONROE COUNTY, FLORIDA, AND DISTRIBUTED TO THE
BOARD OF COUNTY COMMISSIONERS; CONTAINING~RTAIN~
COVENANTS AND AGREEMENTS IN CONNECTION THEREWI'n!; c.:>
AND PROVIDING AN EFFECTIVE DATE." ~; ~ ;:g
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BY RE'@RN:PJG ~ ~.~
THE qEllJN~; ;;J
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BE IT RESOLVED BY THE BOARD OF COUNTY COMMtsSIONER~ORJ
MONROE COUNTY, FLORIDA: ;~- --.1
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DULY ADOPTED ON JANUARY 13, 1993,
CUSTODY OF THE COST OF ISSUANCE FUND TO
AND PROVIDING AN EFFECTIVE DATE.
SECTION 1. AUTHORITY
resolution is adopted pursuant to
Ordinance No. 1-1981 of Monroe
applicable provisions of law.
FOR THIS RESOLUTION. This
Chapter 125, Florida Statutes,
county, Florida, and other
SECTION 2. FINDINGS.
determined and declared that:
It is hereby ascertained,
A. The Board of County Commissioners of Monroe County,
Florida (the "Governing Body"), on January 13, 1993, duly adopted
a resolution entitled:
"A RESOLUTION PROVIDING FOR THE ADVANCE REFUNDING
OF THE OUTSTANDING REFUNDING IMPROVEMENT REVENUE
BONDS, SERIES 1983, OF MONROE COUNTY, FLORIDA;
AUTHORIZING THE ISSUANCE OF NOT EXCEEDING
$2,500,000 REFUNDING IMPROVEMENT REVENUE BONDS,
SERIES 1993, TO FINANCE THE COST THEREOF; PROVIDING
FOR THE PAYMENT OF SUCH BONDS FROM THE RACETRACK
FUNDS AND JAI ALAI FRONTON FUNDS ACCRUING ANNUALLY
TO MONROE COUNTY, FLORIDA, AND DISTRIBUTED TO THE
BOARD OF COUNTY COMMISSIONERS; CONTAINING CERTAIN
COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH;
AND PROVIDING AN EFFECTIVE DATE."
(the "Resolution).
B. It is necessary
Resolution by returning custody of
the county.
SECTION 3. AMENDMENTS TO RESOLUTION. Section 6.12 of
the Resolution is hereby amended to read as follows:
and
the
desirable to amend the
Cost of Issuance Fund to
"SECl'rON 6.12 CUSTODIAL TRUST AGREEMENT. On or prior
to the issuance of the Bonds, the Issuer shall enter into a
custodial trust agreement with a bank or trust company, in regard
to the Sinking Fund (including all accounts therein) established
herein, in substantially the form attached hereto as Exhibit A."
SECTION 4. SEVERABILITY OF INVALID PROVISIONS. If any
one or more of the provisions contained in this resolution shall
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 null and void and shall be
deemed separable from the remaining provisions, and shall in no
way affect the validity of any of the other provisions hereof.
SECTION 5. REPEALING CLAUSE. All resolutions or parts
thereof of the Governing Body in conflict with the provisions
contained in this resolution are, to the extent of such conflict,
hereby superseded and repealed.
SECTION 6. EFFECTIVE DATE. This resolution shall take
effect immediately upon its adoption.
passed and adopted by
of Monroe County, Florida, at
January 26, 1993.
the Board of County Commissioners
a special meeting of the Board on
(SEAL)
ATTEST: 1)Al'ftiY L. XOLfiAGE, Clerk
COUNTY, FLORIDA
Mayor, BO~~-
Commissioners
~c.~~
C er , Board of CtZfun y
Commissioners
2
3Z47/MON59008/AE3