HomeMy WebLinkAboutResolution 628 Southeastern Municipal Bonds
RESOLUTION NO. 628
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER
SPRINGS, FLORIDA, APPROVING AMENDMENT NO. 1 TO AGREEMENT
OF SETTLEMENT OF CONDEMNATION LAWSUIT DATED OCTOBER 23,
1989, TERMINATING THE AGREEMENT WITH SOUTHEASTERN
MUNICIPAL BONDS; AUTHORIZING THE EXECUTION OF AN
UNDERWRITERS AGREEMENT BETWEEN DONALDSON, LUFKIN &
JENRETTE AND THE CITY AND PROVIDING AN EFFECTIVE DATE.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF WINTER SPRINGS, FLORIDA:
SECTION I. That the City Commission of the City of Winter
Springs, Florida, having previously determined that the
acquisition, ownership, maintenance and operation of the water and
sewer utility systems owned by Seminole Utility Company, a wholly
owned subsidiary of Good/Gulfstrearn Holding Corporation, is
necessary to improve and enhance said facilities and the quality
of public water supply and potable sanitary sewer utility service
and is in the interest of the general public who reside, work, or
visit within the City of Winter Springs, hereby determines that the
execution of Amendment No. 1 to the Agreement of Settlement of
Condemnation Lawsuit dated October 23, 1989 ("Amendment"), in the
form attached hereto as Exhibit" A" and made a part hereof, is
necessary and desirable to achieve the acquisition of the assets
of Seminole Utility Company, and same is hereby approved.
SECTION II. That the City representatives are hereby
authorized and instructed to take those actions necessary in order
to execute and effectuate the terms and conditions of the
Amendment.
SECTION III. That the City Manager is directed to give
Southeastern Municipal Bonds thirty days ngtice of their
termination as an underwriter of this Issue.
SECTION IV. That the City Manager and the City Clerk are
authorized to execute an Underwriters Agreement or Bond Purchase
Agreement with Donaldson, Lufkin & Jenrette.
SECTION V. That this Resolution shall take effect immediately
upon its passage.
PASSED AND ADOPTED this 18th day of December, 1989.
CITY OF WINTER SPRINGS, FLORIDA
LEANNE M. GROVE, MAYOR
ATTEST:
MARY T. NORTON
CITY CLERK