HomeMy WebLinkAboutSouth Seminole and North Orange Wastewater Transmission Authority Amendment 1981
/7
'"
~ CD
en 0
'" CD ~~
~
z .,.. ""
coo;
0 j;
r-
rrt ,-
n =
~..t
P C) ....,
,,,.
..... Q) ,.,
." c.:
r ..... >-""
<;>
N PI
AMENDMENT
TO
INTERLOCAL AGREEMENT
BETWEEN
,~OUTH SEMINOLE AND NORTH ORANGE COUNTY
~ WASTEWATER TRANSMISSION AUTHORITY
AND
W
N
c:::J
0)
0;)
(D
<;')
<nr-
~~
%:x~
oCl-
.-.,,0
1""(")%
(")$~
o(")rr1
C:::C:;o
x::t:;o
-4 _
~nI"I
. 0%
"'c
:~
CITY OF WINTER SPRINGS, FLORIDA
Dated September 10, 1981
J:
w
51
iI
(!)
o
::D
C
fTI
C
..
<
...
..
=it
;it
c
I
~
en
N
en
i
AMENDMENT TO INTERLOCAL AGREEMENT
This AMENDMENT
~/
is made and entered into as of the /dday of
, 1981, amending that certain Interlocal Agree-
ment (the "Interlocal Agreement), dated as of September 10, 1981, -
between SOUTH SEMINOLE AND NORTH ORANGE COUNTY WASTEWATER TRANi- ~
% 4:Jfo
MISSION AUTHORITY (the "Authority") and the CITY OF WINTER SPRI~S
n
?
WITNESSE'rH:
C)
?Q)
.....
Cat
the
CD
C)
~~
."
n
i;
r-
;>'>
.....
c.,
<::>
,..
-OC
~C"
C)
rq
(the "Customer"):
That this Amendment has been authorized by the parties to
Interlocal Agreement referred to above and the City of Orlando,
Florida, prior to the execution of this Amendment by either of the
parties; and
That this Amendment will be attached to the Interlocal
Agreement and become a part thereof as though originally
incorporated therein;
NOW, THEREFORE, the Interlocal Agreement is hereby amended as
follows:
SECTION 1. The definition of "Authority Bonds" 1n Section 1
of the Interlocal Agreement executed by the Authority and the
Customer is hereby amended to read as follows:
"Authority Bonds" means bonds issued or to be
issued by the Authority to finance the con-
struction of the System, which term shall
include bond anticipation notes.
SECTION 2. Section 8 of the Interlocal Agreement executed by
the Authority and the Customer is hereby amended to read in its
entirety as follows:
SECTION 8. This Agreement is entered
into pursuant to and is designed to accomplish
the purposes of Chapter 78-617, Laws of
Florida, which Statute, as it now exists, is
deemed to be a part of this contract and, to
the extent of any conflict, shall control over
the terms of this contract.
Any sale of Authority Bonds which is
negotiated shall comply with Chapter 218, Part
III, Florida Statutes, and all amendments
thereto. A contemplated negot iated sale of
Authori ty Bonds shall require prior written
notice to all Customers of the Authority and
"'
approval of the terms a~d. conditions of such
negotiated sale by a maJOrity vote of all the
members of the Board.
Bids on contracts for the acquisition,
construction and equipping of the System re-
ceived by the Authority subsequent to December
1, 1981, shall not be accepted without the
written consent of all Customers of the
Authority if the total of the bids previously
received and such additional bids would
require an expenditure for the acquisition,
construction and equipping of the System in
excess of the amount funded by the Authority
in the issuance of its $7,000,000 principal
amount of Sewer Revenue Bond Anticipation
Notes, Series 1981 (the "1981 Notes").
Nothing herein shall be construed to limit the
authorized principal amount of the 1981 Bonds
as hereinafter defined.
The Authority shall, ninety (90) days
prior to the sale of its authorized Sewer
Revenue Bonds, Series 1981 (the "1981 Bonds")
authorized in the principal amount of
$8,000,000 or the sale of renewal anticipation
notes (the "renewal notes") to be issued for
the redemption of the 1981 Notes, notify each
Customer in writing of such anticipated sale
date; whereupon, each Customer may, at its
absolute discretion, pay all or any part of
its proportionate share, as determined by
provisions of the next sentence, of the prin-
cipal amount of the outstanding 1981 Notes in
order to reduce the principal amount of the
authorized 1981 Bonds or renewal notes which
must be issued to refund the 1981 Notes. The
Customer's proportionate share of the princi-
pal amount of the 1981 Notes shall be the
amount determined by multiplying such princi-
pal amount of 1981 Notes by the Customer's
share of Committed System Capacity as set
forth in Section 5.1(1) of the Agreement. In
the event the Customer pays to the Authority
all of its proportionate share of the prinCi-
pal of the 1981 Notes, the Customer shall
no longer have an obligation under the Agree-
ment to pay Fee Components 3a, b, c and Fee
Component 4a. In the event the Customer pays
only a part of its proportionate share of the
principal of the 1981 Notes, the Customer I s
obligation to pay the Fee Components referred
to in the preceding sentence shall be reduced
by the ratio of the amount paid compared to
the amount which represents the Customer's
total obligation for principal payment. For
example, if the Customer I s percentage of
commi tted System Capacity is twenty percent
(20%), the Customer's principal obligation on
the 1981 Notes is $1,400,000 and if $700,000
or fifty percent (50%) of such amount is paid
to the Authority as principal payment, the
Customer's obligation for Fee Components 3 a,
band c and Fee Component 4a shall be reduced
by 50%.
2
-... CD
In C
'" CD !i~
x
z .. .....
is
0 j;'
r-
", ,-
=
C") ...,
p C::>> ...,
=
.., CD ;:0.'
-0=
r -... ~..,
(;')
... m
Thirty (30) days in advance of the anti-
cipated sale date of either the 1981 Bonds
or Renewal Notes, the Customer shall give
the Authority written notice of Customer's
intention to make payment of part or all
of Customer's proportionate share of the
Authority's outstanding indebtedness. The
Customer shall make all payments to the
Authority in immediately available funds which
shall be received by the Authority no later
than fourteen (14) days prior to the date of
the delivery to the original purchasers (the
"Closing") of either the 1981 Bonds or Renewal
Notes, whichever is to be issued, which Clos-
ing date shall be given to the Customer in
writing. Such payment by the Customer to the
Authority shall be deposited in an interest-
bearing escrow account for the benefit of the
Authority and all interest accrued on escrowed
funds until closing an delivery of the revenue
bonds or the renewal notes shall accrue to the
benefit of the depositing Customer.
In the event that this Agreement should
become null and void or without effect for any
reason, then all prior agreements between tne
Customer and Orlando shall remain in full
force and effect.
, ...... OJ
0
- ~~
... ....
r;
r- ~
rq
13 ".,
Q ....
<-,
r~
r CO .,.,
,,""
...... :.,c.>
Q
.. m
l
Interlocal Agreement shall remain in full force and effect.
SECTION 3. Except as herein provided by this Amendment, the
~
c:---.. ( .'
~;i',a --
t" ..
- . '" . ,..
SOUTH SEMINOLE AND NORTH
ORANGE COUNTY WASTEWATER
TRANSMISS~N AUTHORITY
/
~' /.'-" .,'1.-1 I
~ ,,//,.~.
B , ~" v~"~
Chairman ..'
.<.' '':....
..',. .-
..~. .- "'; ......
.'""" ..
;,
l/
,.
~.:." "!'?"',
:. t:
,.. .,
,.'
r
CITY OF WINTER SPRINGS, FLORIDA
7....
,;:
..:-;...
of
....~ ":,'
..'
,:l.d~..
. C I',
~ ....".......
~..' \"e
~ .... o.yt"',
~: ~ 0
~ ."
t~ ':'\
...
\:':>
..;;:... .
0, "
"'" .
. ", """.
';.;..
f'"'
. .c
; ....
': (.... ,.."
(~~)..:)
" . r .... ..... ·
.'..... . I Ca I D~ ....,"
ATTEST':'""",,,,,,,,,,
--
F(}3~}.
3