Resolution 085-1982
RESOLUTION NO. 85 -1982
AN A}fENDMENT AMENDING RESOLUTION NO. 37-1982
WHEREAS, the Board of County Commissioners of Monroe County,
did, on January 12, 1982, pass Resolution No. 37-1982 which author-
ized issuance of a tax anticipation warrant relative to the loan
from Boulevard Bank, and
~VHEREAS, the County Commissioners did pass Resolution No. 37-
1982 on January 12, 1982, for the purpose of borrowing money from
Boulevard Bank on tax anticipation warrants in the aggregate sum of
One Million Five Hundred Thousand Dollars ($1,500,000.00) with in-
terest at the rate of 10.48% per annum, and
WHEREAS, it is necessary and required that a fundamental
change be made in the terms of said resolution to comport with the
agreement signed by the agents of the County and the Boulevard Bank
on February 24, 1982, now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY CO~n1ISSIONERS OF MONROE
COUNTY, FLORIDA, as follows:
1. That paragraph 1 of the aforesaid Resolution No. 37-1982
be and it is hereby amended by the deletion of that portion of
paragraph 1 commencing on the seventh (7) line after the term
"Monroe County Jail" substituting therefor the following: "
and as the Tax Collector shall collect 1982 taxes, he shall pay
the same directly to the County, and concurrently with each such
payment of taxes received, County shall pay to Bank in repayment of
said loan, a portion of said taxes collected and remitted to County
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 1982. In addition
to the said periodic payment against principal, the County shall
pay interest as accrued until the full amount of the principal debt
and accrued interest shall have been paid at maturity on February 24,
1983, as set forth in the Promissory Note made and entered into on
the above date by and between the County and the Bank."
2. In all other respects and regards Resolution No. 37-1982,
shall remain in force and effect as passed.
-2-
Passed and adopted by the Board of County Commissioners of
Monroe County, Florida, at a special meeting of said Board held
on the 2nd day of March, A.D. 1982.
BOA~RDUNTY COMMISSIONERS
OF M _ OE COU:,Y ~O:OA /7
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Mayor/Chairman
By
(Seal)
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Attest:
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BY
TAX ANTICIPATION WARRANT
KNOW ALL MEN BY THESE PRESENTS, That the County of Monroe,
State of Florida, a political subdivision of the State of Florida,
will pay Boulevard Bank, a banking corporation existing under the
laws of the United States, with offices in the City of Key West,
Monroe County, Florida, on or before one year from the date hereof,
at the banking offices of the Boulevard Bank, aforesaid, the sum of
One r1illion Five Hundred Thousand Dollars ($1,500,000.00), together
with interest thereon at the rate of 10.48% per annum from the date
hereof until fully paid.
Principal hereof and interest thereon will be paid in lawful
money or ~he United States of America from the Droceeds of taxes
when received, which will be levied by the County of Monroe, State
of Florida, on all taxable property in Monroe County, Florida, for
the tax year 1982 for the use of the said County.
This Warrant is issued in anticipation of said taxes so levied
for the tax year 1982,' for the~u~e and benefit of 110nroe County,
Florida, for the pp.l<pose of fun,@;ing the budget requirements for the
Sheriff's Office and to afford emergency repairs to the Monroe
County, Florida, Jail, and is payable, both as to principal and
interest, from the said taxes first collected, which ~axes are hereby
assigned and pledged to the payment of this Warrant.
IN WITNESS WHEREOF, the County of }10nroe, State of Florida, has
issued this Warrant and has caused same to be signed by its Chairman
and attested to by its Clerk as of the
day of
A.D. 1982.
BOARD OF COUNTY COMl1ISSIONERS OF
MONROE COUNTY, FLORIDA
B
(Seal)
Attest: //}
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C 1erk "
PRONISSORY NOTE
The undersigned, COUNTY OF MONROE, STATE OF FLORIDA, a
political subdivision of the State of Florida, hereby promises tn
pay to the order of Boulevard Bank, a banking corporation existing
under the laws of the United States, with offices in the City of
Key lJest, Monroe County, Florida, on or before one year from the
date hereof at the offices of the said Boulevard Bank the sum of
One Million Five Hundred Thousand Dollars ($1,500,000.00) together
with interest thereon at the rate of 10.48% per annum from the date
hereof until fully paid. This promissory note is secured by a Tax
Anticipation Warrant of even date herewith pledging taxes imposed
and collected by Monroe CountY1 Florida, Lor the fiscal year 1982-
83.
IN WITNESS ~IEREOF, the COUNTY OF MONROE, STATE OF FLORIDA, has
caused this Promissory Note to be signed by the Chairman of the
Board of County Commissioners of Monroe County, Florida, attested
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by its Clerk, and delivered to ~he said Boulevard Bank, this
day of February, A:' D. 1982.
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By
STATE
hairman of
of ounty Commissione
Monroe County, Florid
(Seal)
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