HomeMy WebLinkAboutResolution 493 Revenue Bonds
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RESOLUTION NO. 493
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A RESOLUTION PROVIDING FOR THE REDEMPTION OF
CERTAIN OF THE OUTSTANDING CITY OF WINTER
SPRINGS, FLORIDA WATER AND SEWER REVENUE
BONDS, SERIES 1984 DATED SEPTEMBER 1, 1984;
INSTRUCTING THE PAYING AGENT TO PAY PRINCIPAL
AND INTEREST ON THE REFUNDED BONDS; PROVIDING
FOR PUBLICATION OF A NOTICE OF REDEMPTION; AND
PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF WINTER
SPRINGS, FLORIDA:
SECTION 1.
It is hereby found, ascertained, and determined
that:
A. The Ci ty of Winter Springs, Florida (the "Issuer") has
heretofore issued its $5,035,000 Water and Sewer Revenue Bonds,
Series 1984 dated September 1, 1984 (the "Refunded Bonds").
B. The Issuer has, by resolution adopted on May 17, 1985
(the "Resolution"), authorized the issuance of the $5,615,000 City
of Winter Springs, Florida Water and Sewer Refunding Revenue
Bonds, Series 1985 (the "Bonds") the proceeds of which will be
used to refund the Refunded Bonds and to pay certain costs of
issuance in connection therewith. The Resolution provides for the
deposit of funds with Barnett Banks Trust Company, N.A., as Escrow
Holder (the "Escrow Holder") under an Escrow Deposit Agreement,
for such purpose, and provides for the payment of the Refunded
Bonds on a certain redemption date to be herein specified.
SECTION 2. $4,045,000 principal amount of the Refunded Bonds
are hereby irrevocably called for redemption, as a whole, prior to
maturity as of October 1, 1994 (the "Call Date"), at the price of
102% of par, together wi th accrued interest thereon to the Call
Date.
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SECTION 3. The Notices of Redemption of the Refunded Bonds
called shall conform in all respects to the provisions of Resolu-
tion No. 435 of the Issuer adopted November 22, 1983, as amended
securing the Refunded Bonds and shall be in substantially the
following forms:
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NOTICE OF REDEMPTION
CITY OF WINTER SPRINGS, FLORIDA
WATER AND SEWER REVENUE BONDS, SERIES 1984
Dated September 1, 1984
NOTICE IS HEREBY GIVEN, for and on behalf of the City of
Winter Springs, Florida, (the "Ci ty") that $4,045,000 principal
amount of the outstanding City of Winter Springs, Florida
Water and Sewer Revenue Bonds, Series 1985 dated September 1,
1984, which are redeemable on October 1, 2000, at the option of
the City, in whole or in part, and by lot within such maturity, at
the price of 102% of par and accrued interest to the date of prior
maturity or redemption, will be redeemed on October 1, 1994.
Payment of the principal amount of such bonds will be made on
or after such redemption date, upon the presentation of such
bonds at Barnett Banks Trust Company, N.A., Jacksonville, Florida.
Bonds should be accompanied by duly executed assignments of
transfer powers in blank.
Interest maturing on or prior to said
redemption date on which such bonds are called for redemption will
be paid in the usual manner.
Interest on such bonds which are
called for redemption will cease to accrue from and after such
redemption date.
DATED this
day of
BARNETT BANKS TRUST COMPANY, N.A.
Escrow Holder
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SECTION 4. Barnett Banks Trust Company, N.A., as Escrow
Holder is hereby irrevocably instructed and directed not less than
thirty (30) days prior to the Call Date:
A. To call for redemption $4,045,000 principal amount of
Refunded Bonds by mailing postage prepaid, a copy of the aforesaid
Notice of Redemption by registered mail to each registered owner
of a Refunded Bond to be redeemed at his address as shown on the
registration books.
B. To perform all other duties required to give adequate
notice of such redemption in accordance with the provisions of the
Resolution referred to in Section 2 hereof securing the Refunded
Bonds.
SECTION 5. Barnett Banks Trust Company, N.A., as paying
agent of the Refunded Bonds, is hereby authorized and directed (a)
to pay interest as the same becomes due, up to and including the
Call Date, on all Refunded Bonds which are called pursuant to
Section 2 hereof, (b) to pay principal and interest as the same
becomes due on all other Refunded Bonds, (c) to pay, on or after
the Call Date, upon the surrender thereof, the Refunded Bonds
which are called pursuant to Section 2 hereof, and (d) to deliver
to the Issuer for disposition all Refunded Bonds so paid.
SECTION 6. This Resolution is adopted for the benefit of the
holders of the Refunded Bonds and upon issuance of the Bonds,
shall constitute a contract between the District and such
holders.
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SECTION 7.
This Resolution shall take effect immediately
upon its adoption.
ADOPTED by the City of Winter Springs, Florida this /7~ day
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of ~
, 1985.
(SEAL)
ATTEST:
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