HomeMy WebLinkAboutResolution 503 Refunding Revenue Bonds
~
~
~
.
.
~
RESOLUTION NO.
<.1':-?::>
'.Jl.....I_
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF WINTER SPRINGS, FLORIDA APPROVING THE FORM
OF AND AUTHORIZING THE EXECUTION OF AN OFFICIAL
STATEMENT IN CONNECTION WITH THE ISSUANCE AND
DELIVERY BY THE CITY OF WINTER SPRINGS, FLORIDA
OF ITS $3,785,000 IMPROVEMENT REFUNDING REVENUE
BONDS, SERIES 1985; APPROVING THE FORM OF AND
AUTHORIZING THE EXECUTION OF A PAYING AGENT AND
REGISTRAR AGREEMENT WITH SUN BANK, NATIONAL
ASSOCIATION; READOPTING AND RATIFYING RESOLU-
TIONS NO. 495 AND 496 OF THE CITY; PROVIDING
OTHER MATTERS IN CONNECTION WITH THE ISSUANCE
OF THE BONDS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, pursuant to the prov is ions of certain resol utions
adopted by the City Commission of the Ci ty of Winter Springs,
Florida (the "Issuer") on May 17, 1985, as amended on June 17,
1985, the Issuer authorized the issuance of and awarded the sale
of $3,785,000 City of Winter Springs, Florida Improvement Refund-
ing Revenue Bonds, Series 1985 (the "Bonds") to Southeastern Muni-
cipal Bonds, Inc. (the "Underwriter") and authorized the execution
of a Purchase Contract with the Underwriter; and
WHEREAS, such Purchase Contract has been executed and the
Bonds are scheduled to be delivered to the Underwriter on June 20,
1985; and
WHEREAS, it is necessary and desirable to approve the form
of, authorize the execution of, and approve the use by the Under-
writer of an Official Statement relating to the Bonds and to
approve the form of and authorize the execution of a Consent and
Subordination Agreement with Florida National Bank; and
WHEREAS, it is necessary and desirable to approve the form of
and authorize the execution of a paying Agent and Registrar Agree-
ment wi th Sun Bank, National Association, the paying Agent and
Registrar for the Bonds;
,..
.
e
"
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF WINTER SPRINGS, FLORIDA, AS FOLLOWS:
SECTION 1. The distribution by the Underwriter of an Offi-
cial Statement relating to the Bonds is hereby approved, and the
Mayor and the City Manager are authorized to execute such Official
Statement, in substantially the form attached hereto as Exhibit
"A", with such additional changes, insertions and omissions as may
be made and approved by the officers of the Issuer executing the
same, such execution to be conclusive evidence of any such
approval. To the extent of any inconsistencies in the terms of
the Bond s as set forth in the Purchase Contract and the terms of
Bonds as set forth in the Official Statement, the terms set forth
in the Official Statement shall prevail and the appropriate offi-
cers of the Issuer are authorized to execute any amendments to the
Purchase Contract as may be necessary to conform the terms of the
Bonds to the terms set forth in such Official Statement.
SECTION 2. The form of the paying Agent and Registrar Agree-
ment attached hereto as Exhibit "B", is hereby approved, and the
Mayor and the City Manager or the City Clerk are hereby authorized
to execute such Paying Agent and Reg istrar Agreement with Sun
Bank, National Association, as Paying Agent and Registrar for the
Bonds, with such changes, insertions and omissions as may be made
and approved by the officers of the Issuer executing the same,
such execution to be conclusive evidence of any such approval.
2
. .f
..
.
e
r
SECTION 3. The form of the Consent and Subordination Agree-
ment attached hereto as Exhibit "C", is hereby approved, and the
Mayor and the City Manager or the City Clerk are hereby authorized
to execute such agreement with Florida National Bank with such
changes, insertions and omissions as may be made and approved by
the officers of the Issuer executing the same, such execution to
be conclusive evidence of any such approval.
SECTION 4.
Resolutions No. 495 and 496 are hereby readopted
and ratified.
SECTION 5.
All prior resolutions of the Issuer inconsistent
wi th the provisions of this resolution are hereby modified, sup-
plemented and amended to conform with the provisions herein con-
tained and except as otherwise modified, supplemented and amended
hereby shall remain in full force and effect.
SECTION 6.
This Resolution shall take effect immediately
upon its adoption.
ADOPTED this ~ day of
r~
, 1985.
CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA
ATTEST:
"'"
M~ \
sufficiency:
/
r-.~,~-c:'----
'I
/
/
/p~;: ~~
Clerk
/'
Approved as to form and lega*
City Attorney
3