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03-1462 Utility Bonds
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03-1462 Utility Bonds
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Last modified
8/3/2005 2:54:16 PM
Creation date
2/15/2005 3:06:10 PM
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City Clerk
City Clerk - Doc Type
Resolutions
City Clerk - Date
12/8/2003
Doc Number
03-1462
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<br />Supplemental Resolution. Accordingly, the Reserve Account Requirements for each of the Series <br />2003 Notes shall be $0. <br /> <br />SECTION 12. NO RENEWAL AND REPLACEMENT FUND REQUIREMENT. <br />Pursuant to the Authorizing Resolution, the Issuer may establish a different Renewal and <br />Replacement Fund Requirement by Supplemental Resolution. Accordingly, the Renewal and <br />Replacement Fund Requirement for each of the Series 2003 Notes shaH be $0. <br /> <br />SECTION 13. WAIVER OF CERTAIN PROVISIONS OF SERIES 2002 NOTE. The <br />Issuer shall take such actions as are necessary as to redeem and defease the Series 2002 Note. Note <br />Purchaser, as sole Holder of the Series 2002 Note, has indicated that upon issuance ofthe Series <br />2003B Note, it will waive all notice and call provisions relating to the Series 2002 Note and allow <br />such note to be currently refunded from the proceeds of the Series 2003B Note. <br /> <br />SECTION 14. APPOINTMENT OF REGISTRAR AND PAYING AGENT. Subject <br />in all respects with the satisfaction of the conditions set forth in Section 6 hereof, the Issuer shall act <br />as Registrar and Paying Agent for the Series 2003 Notes. <br /> <br />SECTION 15. DESIGNA TlON OF THE SERIES 2003 NOTES AS QUALIFIED T AX- <br />EXEMPT OBLIGATIONS. The Issuer hereby designates the Series 2003A Note as a "qualified <br />tax-exempt obligation" under Section 265(b)(3) of the Code. This designation is based upon the <br />findings of the Issuer set forth in the last recital of this Supplemental Resolution and the Mayor or <br />the City Manager is authorized to certifY such finding upon the issuance of the Series 2003A Note. <br />The Series 2003B Note represents a current refunding of "qualified tax-exempt obligations" and shall <br />continue to represent "qualified tax-exempt obligations" under Section 265(B)(3) of the Code. <br /> <br />SECTION 16. REQUIRED FINANCIAL INFORMATION OF ISSUER; NOTICE <br />ADDRESS OF NOTE PURCHASER. The Issuer shall supply the Note Purchaser with its annual <br />financial statements by no later than 21 0 days following its fiscal year end. The Issuer shall supply <br />the Note Purchaser with its annual budget within 30 days of its adoption. Notwithstanding any <br />notice provision in the Resolution to the contrary, for purposes of notice to the Note Purchaser the <br />following information shall be utilized: <br /> <br />SunTrust Bank <br />Institutional and Governmental Banking <br />loth Floor SOAB <br />Orlando, Florida 32801 <br />Attention: Mr. Todd Morley, Vice President <br /> <br />unless and until the Note Purchaser informs the Issuer in writing of a new notice address or <br />assignment or sale of the Series 2003 Notes. <br /> <br />5 <br />
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