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ORDINANCE 19-1517 <br />AN ORDINANCE OF THE CITY OF CASSELBERRY AUTHORIZING <br />THE ISSUANCE OF $1,643,579 IN AGGREGATE PRINCIPAL <br />AMOUNT OF THE CITY'S TAXABLE SAUSALITO WALL SPECIAL <br />ASSESSMENT REVENUE BOND, SERIES 2019 IN ORDER TO FINANCE <br />THE DESIGN, CONSTRUCTION AND INSTALLATION OF THE <br />SAUSALITO SUBDIVISION WALL WITHIN THE CITY; <br />PLEDGING CERTAIN SPECIAL ASSESSMENT PROCEEDS TO SECURE <br />THE PAYMENT OF THE PRINCIPAL OF, REDEMPTION PREMIUM, IF <br />ANY, AND INTEREST ON THE BOND; PROVIDING A SUPPLEMENTAL <br />COVENANT TO BUDGET AND APPROPRIATE LAWFULLY <br />AVAILABLE NON -AD VALOREM REVENUES OF THE CITY <br />SUFFICIENT TO PAY THE PRINCIPAL OF, REDEMPTION PREMIUM, <br />IF ANY, AND INTEREST ON THE BOND; PROVIDING FOR THE <br />RIGHTS OF THE HOLDERS OF SUCH BOND; AND PROVIDING <br />SEVERABILITY AND AN EFFECTIVE DATE. <br />NOW, THEREFORE, BE IT ENACTED BY THE CITY COMMISSION OF THE <br />CITY OF CASSELBERRY, FLORIDA, AS FOLLOWS: <br />SECTION 1. DEFINITIONS. When used in this Ordinance, the following terms shall <br />have the following meanings, unless some other meaning is plainly intended: <br />"Act" shall mean Chapter 166, Part II, Florida Statutes, the Charter and other applicable <br />provisions of law. <br />"Bond" shall mean the City of Casselberry, Florida Taxable Sausalito Wall Special <br />Assessment Revenue Bond, Series 2019 issued by the City pursuant to this Ordinance and the <br />Resolution. <br />"City" shall mean the City of Casselberry, Florida, a municipal corporation established by <br />the State of Florida. <br />"Commission" shall mean the City Commission of the City of Casselberry, Florida. <br />"Non -Ad Valorem Revenues" shall mean all revenues of the City derived from any source <br />whatsoever other than ad valorem taxation on real or personal property, which are legally available <br />to make the payments required by this Ordinance and the Resolution, but only after provision has <br />been made by the City for the payment of all essential or legally mandated services. <br />"Ordinance" shall mean this Ordinance enacted by the Commission on the date hereof, as <br />it may be amended and supplemented from time to time. <br />Ordinance 19-1517 <br />Page 1 <br />