19-3143 Issuing Utility System Revenue Bond, Series 2019

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WHEREAS, the covenants, pledges and conditions in the Original Resolution shall be applicable to the Series 2019 Bond herein authorized and said Series 2019 Bond shall be on a parity with and rank equally as to the lien on and source and security for payment from the Pledged Funds (as defined in the Original Resolution) and in all other respects with all Additional Bonds (as defined in the Original Resolution) heretofore or hereafter issued pursuant to the Original Resolution, and shall constitute "Bonds" within the meaning of the Original Resolution; and WHEREAS, the Original Resolution provides for the issuance of obligations such as the Series 2019 Bond and that such Series 2019 Bond shall mature on such dates and in such amounts, shall bear such rates of interest, shall be payable in such places and shall be subject to such redemption provisions as shall be determined by Supplemental Resolution adopted by the Issuer; and it is now appropriate that the Issuer set forth the parameters and mechanism to determine such terms and details; and WHEREAS, the Issuer does not intend to issue more than $10,000,000 of tax-exempt debt in calendar year 2019 and therefore, the Commission hereby designates the Bond as a "qualified tax-exempt obligation" within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (the "Code"). NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA AS FOLLOWS: SECTION 1. DEFINITIONS. When used in this Supplemental Resolution, terms defined in the Original Resolution shall have the meanings therein stated, except as such definitions shall be hereinafter amended and defined. SECTION 2. AUTHORITY FOR THIS SUPPLEMENTAL RESOLUTION. This Supplemental Resolution is adopted pursuant to the provisions of the Act and Section 2.01 of the Original Resolution. SECTION 3. AUTHORIZATION OF SERIES 2019 PROJECT. The Issuer hereby authorizes and approves the financing of the Series 2019 Project as set forth herein. SECTION 4. DESCRIPTION OF THE SERIES 2019 BOND; DELEGATION TO MAYOR TO EXECUTE BOND TERMS AGREEMENT. The Issuer hereby authorizes the issuance of the Series 2019 Bond in the aggregate principal amount not to exceed $8,000,000 to be known as the "City of Casselberry, Florida Utility System Revenue Bond, Series 2019," for the principal purpose of financing the Series 2019 Project. The Series 2019 Bond shall be payable on a parity with the Issuer's Utility System Refunding Revenue Note, Series 2011. The Series 2019 Bond shall be dated as of its date of delivery (or such other date as shall be determined by the Mayor), shall be issued in the form of one fully registered bond in the denomination of not to exceed $8,000,000, shall be numbered "R -I," and shall be substantially in the form set forth in Exhibit "A" attached hereto. The Series 2019 Bond shall have a maturity no later than October 1, 2034, and shall have an interest rate not to exceed 1.935% per annum. The City hereby authorizes and directs the Mayor to execute a bond terms agreement with the Purchaser setting forth the terms of the Series 2019 Bond, the interest rate, maturities, principal amounts, mandatory amortization installments, if any, prepayment and redemption provisions and 2