03-1462 Utility Bonds - Laserfiche WebLink

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(A) Receipt by the Mayor of a disclosure statement and a truth-in-bonding statement of the Note Purchaser compIying with Section 218.385, Florida Statutes. (B) Receipt by the Note Purchaser of the Issuer's counsel's opinion as to the due authorization, execution, delivery and enforceability of this Supplemental Resolution and the Series 2003 Notes. (C) Receipt by the Issuer of an opinion of Bond Counsel as to the exclusion of the interest on the Series 2003 Notes from gross income for federal tax purposes under the Code, and certain other matters related to the Series 2003 Notes. Upon satísfaction of all the requirements set forth in this Section 6, the Mayor is authorized to execute and deliver the Series 2003 Notes in exchange for the principal amount thereof from the Note Purchaser. This Supplemental Resolution shall act as Bond Purchase Agreement as between the Issuer and the Note Purchaser. SECTION 7. REDEMPTION PROVISIONS. The Series 2003 Notes shall be subject to redemption prior to their maturity as set forth in the form of Series 2003 Notes attached hereto as Exhibits "B" and "C." SECTION 8. CERTIFIED NOTE; NO BOOK-ENTRY. The Series 2003 Notes shall be certificated and will not be eligible for book-entry registration. The Series 2003 Notes shall be issued as separate notes in substantially the forms set forth in Exhibits "B" and "C" hereto. SECTION 9. TRANSFER OF CERTAIN MONEYS. The Series 2002 Note will be refunded from proceeds of the Series 2003B Note, inclusive of proceeds of the Series 2002 Note currently held by the Issuer, and, if necessary, other legally available moneys of the Issuer. Any excess moneys on deposit in the funds and accounts established for the Series 2002 Note under the Resolution shall be transferred to the Note Purchaser as sole Holder ofthe Series 2002 Note or as otherwise directed by Bond Counse1. SECTION 10. NOTE PURCHASER RELYING UPON ITS OWN DUE DILIGENCE. The Note Purchaser is purchasing the Series 2003 Notes based upon its own due diligence regarding the Issuer and the Pledged Funds. By purchasing the Series 2003 Notes, it acknowledges that it is experienced in the field of purchasing municipal debt and that it is an "accredited investor" within the meaning of Regulation D of the Securities Act of 1933 promulgated by the Securities and Exchange Commission and Chapter 5 I 7 of the Florida Statutes. The Note Purchaser shall purchase the Series 2003 Notes for its own account and has represented that it has no present intention to sell or otherwise dispose of such Series 2003 Notes, but has reserved the right to do so. SECTION 11. NO RESERVE ACCOUNT REQUIREMENT. Pursuant to the Authorizing Resolution, the Issuer may establish a different Reserve Account Requirement by 4