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<br />RESOLUTION NO. 03-1461 <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 $2,400,000 <br />IN AGGREGATE PRINCIPAL AMOUNT OF THE CITY OF <br />CASSELBERRY, FLORIDA GAS TAX REVENUE BONDS TO <br />FINANCE THE COSTS OF CERTAIN TRANSPORTATION <br />RELATED IMPROVEMENTS; PLEDGING THE REVENUES <br />RECEIVED FROM THE CITY AND LOCAL OPTION GAS <br />TAXES TO SECURE PAYMENT OF THE PRINCIPAL OF, <br />REDEMPTION PREMIUM, IF ANY, AND INTEREST ON <br />SAID BONDS; AUTHORIZING A PRIVATE PLACEMENT <br />AND NEGOTIATED SALE OF SUCH BONDS WITH <br />SUNTRUST BANK; APPROVING THE REGISTRAR AND <br />PAYING AGENT FOR THE BONDS; DESIGNATING THE <br />SERIES 2003 NOTE AS A QUALIFIED TAX-EXEMPT <br />OBLIGATION PURSUANT TO SECTION 265(B)(3) OF THE <br />INTERNAL REVENUE CODE; PROVIDING FOR THE <br />RIGHTS OF THE HOLDERS OF SAID BONDS; AND <br />PROVIDING FOR AN EFFECTIVE DATE FOR THIS <br />RESOLUTION. <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 following terms <br />shall have the following meanings, unless the context clearly otherwise requires: <br /> <br />"Act" shall mean Chapter ]66, Florida Statutes, Sections 206.4] and 336.025, Florida <br />Statutes, the City Charter of the City of Casselberry, Florida, this Reso]ution and other applicable <br />provisions of law. <br /> <br />"Additiona] Bonds" shall mean the obligations issued at any time under the provisions of <br />Section 5.02 hereof on a parity with the Series 2003 Note. <br /> <br />"Additional Project" or "Projects" shall mean the acquisition and construction of such <br />transportation related improvements, facilities, property and/or equipment, if any, as the City <br />