Resolution 080-1965•
•
RESOLUTION NO. 80-1965
RESOLUTION AWARDING $1,300,000 CERTIFI-
CATES OF INDEBTEDNESS OF 1965 OF THE
COUNTY OF MONROE, FLORIDA AND DESIGNAT-
ING THE PAYING AGENT AND ALTERNATE PAYING
AGENT AND THE DEPOSITARY OF THE FUNDS
AND ACCOUNTS FOR SAID CERTIFICATES.
WHEREAS, the Board of County Commissioners of the County of
Monroe, Florida on August 24, 1965 adopted a resolution entitled "RESOLU-
TION AUTIIORIZING THE CONSTRUCTION AND ACQUISITION OF ADDITIONS, EXTEN-
SIONS AND IMPROVEMENTS TO THE EXISTING JAIL SUB -STATION AT MARATHON AND
THE EXISTING JAIL SUB -STATION AT PLANTATION KEY AND THE CONSTRUCTION OF
A NEW JAIL AT KEY WEST, FOR MONROE COUNTY, FLORIDA, AND THE ISSUANCE OF
NOT EXCEEDING $1,300,000 CERTIFICATES OF INDEBTEDNESS OF 1965 OF SAID
COUNTY TO FINANCE THE COST THEREOF, PAYABLE FROM THE SPECIAL TAXES AUTHOR-
IZED BY CHAPTER 135, FLORIDA STATUTES." (hereinafter referred to as
"Resolution"), and
and
WHEREAS, the County is'desirous of selling said Certificates;
WHEREAS, Barcus, Kindred and Company has submitted a proposal
to purchase said certificates at 98% of the par value thereof and a net
interest cost of 3.75%, not including any discount thereon.
WHEREAS, in all other respects the Board of County Commissioners
has found and determined that said proposal is the best.and'most advan-
tageous in the circumstances and at the least cost to the County; and
WHEREAS, said Resolution provided that the Paying Agent and
Alternate Paying Agent and the depositary of all funds and accounts
authorized in said Resolution shall be designated by the Board of County
Commissioners, now,therefore;
BE IT RESOLVED by the Board of County Commissioners of the
County of Monroe, Florida:
Section 1. That the proposal of Barcus, Kindred and Company,
referred to in the preambles hereof, be and the same is hereby accepted,
and the following described certificates of the County of Monroe, Florida,
be and they are hereby awarded and sold to the said purchaser referred to
in the preambles hereof:
If
$1,300,000 Certificates of
Indebtedness of 1965,
dated
Se tember
1, 1965,
in the denomina-
tion
of �5,000 each, numbered 1 to 260,
both
inclusive,
bearing
interest payable
semi-annually on September
1 and March
1
and maturing in
numerical
order on September
1 of
each year,
in the years
and amounts
and rates as follows:
Year
Amount
Rate
Year
Amount
Rate
1968
$25,000
3 %
1981
$45,000
4
1969
25,000
3 %
1982
45,000
4
l/4%
1970
30,000
3 %
1983
45,000
4
l/4%
1971
30,000
3 1/4%
1984
50,000
4
l/4%
1972
30,000
3 114%
1985
50,000
4
l/4%
1973
30,000
3 1/4 0
1986
55,000
4
l/%
1974
30,000
3 1/2%
1987
55,000.
1/4%
1975
35,000
3 1/2%
1988
55,000
4
1/4%
1976
35,000
3 1/2%
1989
6o,000
4
l/4%
1977
35,000
3 3/4%
1990
6o,000
4
1/4%
1978
40,000
3 3/4%
1991
65,000
4
1/4%
1979
4o,000
3 3/4%
1992
70,000
11.
1/4%
1980
4o,000
4 %
1993
70,000
4
1/4%
Certificates
in the principal amount of $75,000
mature in
the year 1994 and bear interest at,the rate of 3 1/2f per annum from date
to September 1, 1983 and at the rate of 0% thereafter. Certificates in
-the principal amount of $75,000 mature in the year 1995 and bear interest
at the rate of 3% per annum from date to September 1, 1977 and at the
rate of 0% thereafter.
In addition all certificates shall bear supplemental interest
coupons at the rate of to per annum from November 1, 1965 to March 1,
1967.
Section 2. That said $1,300,000 Certificates of Indebtedness
of 1965 shall be payable as to both principal and interest at the Citizens
Bank and Trust Company, Sarasota, Florida or at the option of the holder
at the Chemical Bank New York.Trust Company, New York, New York,
Section 3. That the Citizens Bank and Trust Company, Sarasota,
Florida is hereby designated as the depositary of all the funds and
accounts authorized in said Resolution.
Section 4. This resolution shall take effect immediately.