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<br />RESOLUTION NO. 95-910 <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE <br />CITY OF CASSELBERRY, FLORIDA, AUTHORIZING THE <br />ISSUANCE BY THE CITY OF NOT TO EXCEED <br />$3,500,000 IN AGGREGATE PRINCIPAL AMOUNT OF <br />SALES TAX BONDS, SERIES 1995, TO FINANCE THE <br />COST OF THE ACQUISITION OF REAL PROPERTY AND <br />CONSTRUCTION OF A POLICE STATION AND CERTAIN <br />OTHER RELATED PURPOSES; PLEDGING THE CITY'S <br />LOCAL GOVERNMENT HALF-CENT SALES TAX REVENUES <br />TO SECURE PAYMENT OF THE PRINCIPAL OF AND <br />INTEREST ON SUCH BONDS; MAKING CERTAIN COVE- <br />NANTS AND AGREEMENTS FOR THE BENEFIT OF THE <br />HOLDERS OF SUCH BONDS; PROVIDING CERTAIN OTHER <br />MATTERS IN CONNECTION THEREWITH; AND PROVIDING <br />AN EFFECTIVE DATE. <br /> <br />BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF <br />CASSELBERRY, FLORIDA: <br /> <br />ARTICLE I <br /> <br />GENERAL <br /> <br />SECTION 1. 01. Definitions. When used in this Resolution, the <br />following terms shall have the following meanings, unless the <br />context clearly otherwise requires: <br /> <br />"Accreted Value" shall mean, as of any date of computation <br />with respect to any Capital Appreciation Bond, an amount equal to <br />the principal amount of such Capital Appreciation Bond (the princi- <br />pal amount at its initial offering) plus the interest accrued on <br />such capital Appreciation Bond from the date of delivery to the <br />original purchasers thereof to the Interest Date next preceding the <br />date of computation or the date of computation if an Interest Date, <br />such interest to accrue at a rate not exceeding the legal rate, <br />compounded semiannually, plus, with respect to matters related to <br />the payment upon redemption or acceleration of the Capital Appre- <br />ciation Bonds, if such date of computation shall not be an Interest <br />Date, a portion of the difference between the Accreted Value as of <br />the immediately preceding Interest Date and the Accreted Value as <br />of the immediately succeeding Interest Date, calculated based on <br />the assumption that Accreted Value accrues during any semi-annual <br />period in equal daily amounts on the basis of a 360-day year of <br />twelve 30-day months. <br /> <br />"Act" shall mean Chapter 166, Part II, Florida Statutes, and <br />other applicable provisions of law. <br /> <br />1 <br />