20-3157 Bond Resolution - Not to Exceed $24,000,000 Florida General Obligation Bonds

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(E) Article VII, Section 12(a) of the Constitution of the State of Florida provides that upon approval by a vote of the electors, municipalities may issue bonds payable from ad valorem taxation to finance capital projects authorized by law. (F) The Issuer deems it a paramount public purpose and deems it necessary, beneficial and in its best interest to provide for the financing of the Project. (G) Ad Valorem Taxes levied by the Issuer in accordance with this Bond Resolution should be sufficient to pay all principal of and interest and redemption premium, if any, on the Bonds to be issued hereunder, as the same become due, and to make all required deposits or payments required by this Bond Resolution. SECTION 3. DEFINITIONS. Capitalized terms not otherwise defined herein shall have the meaning set forth in the Referendum Resolution. In addition, as used in this Bond Resolution, the following terms shall have the following meanings: "AD VALOREM TAXES" shall mean the ad valorem taxes levied by the Issuer on real property and improvements thereto subject to the Issuer's ad valorem taxing power which are located from time to time within the municipal boundary of Casselberry, Florida. "BOND COUNSEL" shall mean the Issuer's bond counsel which may be any attorney at law or firm of attorneys of nationally recognized standing in matters pertaining to the exclusion from gross income for federal income tax purposes of interest on obligations issued by states and political subdivisions, and duly admitted to practice law before the highest court of any state of the United States of America. "BOND REFERENDUM" shall have the same meaning as set forth above in Section 2. "BOND REGISTRAR AND PAYING AGENT" means any trust company or bank with trust powers appointed from time to time by supplemental resolution of the City Commission to serve under this Bond Resolution. "BOND RESOLUTION" means this resolution authorizing the Bonds. "BOND YEAR" means such year as determined by the Issuer. "BONDS" means the not to exceed aggregate amount of $24,000,000 City of Casselberry, Florida General Obligation Bonds, authorized by this Bond Resolution. "CITY ATTORNEY" means the City Attorney of the Issuer (or her firm, Garganese, Weiss, D'Agresta & Salzman, P.A.), or any subsequent attorney or firm which may serve as the City Attorney of the City of Casselberry in the future. , "CITY CHARTER" or "CHARTER" means the municipal charter of the Issuer. 2