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RESOLUTION 19-3143 <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />CASSELBERRY, FLORIDA SUPPLEMENTING RESOLUTION <br />NO. 02-1381 ADOPTED OCTOBER 14, 2002; AUTHORIZING THE <br />ISSUANCE AND SALE OF THE CITY'S UTILITY SYSTEM <br />REVENUE BOND, SERIES 2019 IN A PRINCIPAL AMOUNT NOT TO <br />EXCEED $8,000,000; MAKING CERTAIN COVENANTS AND <br />AGREEMENTS IN CONNECTION WITH THE ISSUANCE AND <br />SALE OF THE SERIES 2019 BOND; AUTHORIZING A <br />NEGOTIATED SALE OF SAID SERIES 2019 BOND TO JPMORGAN <br />CHASE BANK, N.A.; DELEGATING CERTAIN AUTHORITY TO <br />THE MAYOR FOR THE AUTHORIZATION, EXECUTION AND <br />DELIVERY OF ANCILLARY DOCUMENTS RELATED TO THE <br />ISSUANCE AND SALE OF THE SERIES 2019 BOND, AND THE <br />APPROVAL OF CERTAIN OF THE TERMS AND DETAILS OF SAID <br />SERIES 2019 BOND; APPOINTING THE CITY AS PAYING AGENT <br />AND BOND REGISTRAR FOR SAID SERIES 2019 BOND; <br />DESIGNATING THE SERIES 2019 BOND AS A "QUALIFIED TAX- <br />EXEMPT OBLIGATION" WITHIN THE MEANING OF SECTION <br />265(b)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS <br />AMENDED; AND PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, on October 14, 2002, the City Commission (the "Commission") of the City <br />of Casselberry, Florida (the "Issuer") duly adopted its Resolution No. 02-1381 (the "Original <br />Resolution") for purposes described therein, authorizing, among other things, the issuance of the <br />Issuer's Utility System Revenue Bonds; and <br />WHEREAS, the Original Resolution is being supplemented by this Supplemental <br />Resolution (as so amended, the "Resolution") for the purpose of issuing the Issuer's Utility System <br />Revenue Bond, Series 2019 (the "Series 2019 Bond"); and <br />WHEREAS, the Series 2019 Bond is being issued to finance the City's meter replacement <br />program and certain other capital costs relating to the utility system (the "Series 2019 Project"); <br />and <br />WHEREAS, due to the potential volatility of the market for tax-exempt obligations such <br />as the Series 2019 Bond and the complexity of the transactions relating to such Series 2019 Bond, <br />it is in the best interest of the Issuer to sell the Series 2019 Bond by a negotiated sale, allowing the <br />issuer to enter the market at the most advantageous time, rather than at a specified advertised date, <br />thereby permitting the Issuer to obtain the best possible price and interest rate for the Series 2019 <br />Bond; and <br />WHEREAS, the Issuer has received a favorable offer to purchase the Series 2019 Bond <br />from JPMorgan Chase Bank, N.A. (the "Purchaser") for that entity's own account, all within the <br />parameters set forth herein; and <br />