Resolution 203-1978RESOLUTION NO.203 -1978
RESOLUTION REPEALING RESOLUTION NO. 200-1978 AND
AUTHORIZING ISSUANCE OF TAX ANTICIPATION WARRANT
FOR MONROE COUNTY. FLORIDA
WHEREAS, the Board of County Commissioners of Monroe County,
Florida, previously adopted Resolution No. 200-1978, and"since
more than three (3) months have expired since the proposal provid-
ing for interest at 4.58% has expired thus requiring an increase
in the interest rate from 4.58% to 4.75%, and
WHEREAS, the Board of County Commissioners of Monroe County,
Florida, desires to borrow the sum of $386,000.00 before the end
of the year 1978, and to repay.said loan out of anticipated tax
receipts to be received by said County from the tax revenue on tax-
able property in Monroe County for the year 1978-79, and
WHEREAS, Florida Keys First State Bank has°.agreed to loan
said money.to said Board of County Commissioners for the year in
Monroe County as set forth above, now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, as follows:
1. That Resolution No. 200-1978 is hereby repealed.
2. That the sum of $386,000.00 with interest thereon at
the rate of 4.75% per annum from -date until fully paid, be, and
the,same is hereby authorized to be borrowed from Florida Keys
First State Bank, a banking corporation existing under the laws of
the State of Florida, as same is needed -for the .construction of
the Upper Keys Governmental Center before the end of fiscal year
1978-79 and the Monroe County.Tax Collector be, and. -he is hereby
authorized topay jointly to the said Florida Keys First State Bank -
and the Boar{.d of County Commissioners of Monroe County, Florida,
the.proceeds of taxes levied by -the County of Monroe, State of
Florida, on all taxable property in said Monroe County for the year
1978-79, for the construction of.the Upper Keys Governmental Center
when said taxes have been collected and received by said Tax
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APPROVED ON R - PAGE:
l5
U0K ��. ' E 0_
Collector in.an amount.sufficient to repay the principal sum of
$386,000.00 and:any interest that.may'be due thereon if said -
sum is borrowed.
BE IT FURTHER RESOLVED BY SAID -BOARD that the Board .of.
County Commissioners of Monroe County,.Florida,' be and it .is
'hereby authorized to. is's:ue a Tax Anticipation Warrant, payable..to.
said'Florida Keys -First State'Bank in the amount..'of $386000.00
with the interest thereon at the rate of-.4..75% per..annum from
date .until fully paid, payable out ofanticipated tax proceeds
as' hereinbefore.set forth, and:the Mayor/Chairman and Clerk of
said County of Monroe;.State.of'Florida, be; and ,they are hereby -
authorized to execute said Tax Anticipation Warrant,and to
deliver same t'o-the Florida Keys -First State Bank upon receipt
of the sum of.$386,000.00 by said County
DATED.'August 15,,1978:
BOARD OF COUNTY COMMISSIONERS OF
-MONROE COUNTY FLORIDA
B.
ayor an,. airman
(Seal) ..
Attest'. =
l e k .
HEREBY CERTIFY that .this docurrient
hF)y - been reviewed for legal suf`i"i
cie.ncy and ti,�at the same meets with
my approval.
:By ��. i✓ C
Attorneys .Office
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