HomeMy WebLinkAboutResolution 505 Refunding Bonds
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RESOLUTION NO.~S
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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 $5,615,000 WATER AND SEWER REFUNDING
REVENUE BONDS, SERIES 1985; APPROVING THE FORM
OF AND AUTHORIZING THE EXECUTION OF A CONSENT
AND SUBORDINATION AGREEMENT WITH FLORIDA
NATIONAL BANK; APPOINTING A TRUSTEE; READOPTING
RESOLUTIONS NO. 492 AND NO. 493 OF THE CITY;
PROVIDING OTHER MATTERS IN CONNECTION WITH THE
ISSUANCE OF THE BONDS; AND PROVIDING AN EFFEC-
TIVE DATE.
WHEREAS, pursuant to the provisions of certain resolutions
adopted by the Ci ty 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 $5,615,000 City of Winter Springs, Florida Water and Sewer
Refunding Revenue Bonds, Series 1985 (the "Bonds") to Southeastern
Municipal Bonds, Inc. (the "Underwriter") and authorized the exe-
cution 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 des i rable 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, to approve
the form of and authorize the execution of a Consent and Subordi-
nation Agreement with Florida National Bank and to appoint a
Trustee;
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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 Offic-
ial 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 Bonds as set forth in the Purchase Contract and the terms of
the Bonds as set forth in the Official Statement, the terms set
forth in the Official Statement shall prevail and the appropriate
officers 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 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 3. Barnett Banks Trust Company, N .A., is hereby
appointed Trustee for the Bonds.
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SECTION 4.
Resolutions No. 492 and 493 of the Ci ty are
hereby readopted and ratified.
SECTION 5.
All prior resolutions of the Issuer inconsistent
with 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
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, 1985.
CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA
ATTEST:
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Clerk
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M~yor
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Approved as to form and leg~'l.dfficiency:
City Attorney
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