HomeMy WebLinkAboutResolution - Realease of Lien on Utility Svcs Taxes
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A RESOLUTION PROVIDING FOR THE RELEASE OF THE
LIEN ON THE UTILITIES SERVICES TAXES FOR THE
PAYMENT OF THE WATER REVENUE BONDS, SERIES
1973, CITY OF OCOEE, FLORIDA: AND PROVIDING
AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY OFOCOEE, FLORIDA:
SECTION 1. The City, pursuant to the authority of a
resolution adopted January 16, 1973, (herein called "1973 Reso-
lution"), has heretofore issued $400,000 Water Revenue Bonds,
Series 1973 payable from and secured by a prior lien upon'and
pledge of the net revenues derived by the City from the opera-
tion of its water system and the proceeds of the utilities ser-
vices taxes imposed by the City on the purchase of certain utili-
ties services within the corporate limits of the City, pursuant to
the laws of Florida and Ordinance No. 542 enacted by the City on
October 19, 1971.
SECTION 2. Subsection 16 H of the 1973 Resolution
provides for the release of the lien on the utilities services
taxes for the payment of the Water Revenue Bonds, Series 1973
and the interest thereon provided that the revenues received
by the City during the fiscal year immediately preceding the
release of the lien on such utilities service taxes, as evi-
denced by the sworn statement of an independent certified
public accountant, filed with the City Clerk, were not less
than 1.40 times the maximum future annual debt service on all
outstanding Water Revenue Bonds, Series 1973 and on any out-
standing additional parity obligations. No additional parity
obligations are at this time outsta~ding. There is presently on
file with the City Clerk a sworn statement of an independent
certified public accountant certifying that the revenues re-
ceived by the City during the preceding fiscal year were not
less than 1.40 times the maximum future annual debt service on
all outstanding Water Revenue Bonds, Series 1973.
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SECTION 3. The lien on the utilities services taxes
for the payment of the Water Revenue Bonds, Series 1973 and the
interest thereon is hereby released and extinguished. The City
Clerk is directed to file a certified copy of this resolution
with the paying agent of the Water Revenue Bonds, Series 1973.
SECTION 4. This resolution shall take effect imme-
diately upon its adoption.
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CERTIFICATE OF RECORDING OFFICER
The unders igned HEREBY CERTIFIES th at:
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(herein called the Citv
records thereof, including the minutes
qualified, and acting
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), and keeper of the
of its proceedings:
1.
He is the duly appointed,
of the
.
2. The annexed copy of extracts from the minutes of
the Commission meeting of the City of Oeoee ,
held on the 5 day of Feb. , 19--11L, is
a true, correct, and compared copy of the whole of the original
minutes of said meeting on file and of record'insofar as the
same relate to the resolution referred to in said extracts and
to the other matters referred to therein:
3. Said meeting was duly convened in conformity with
all applicable requirements: a proper quorum was present through-
out said meeting and the resolution hereinafter mentioned was
duly proposed, considered, and adopted in conformity with appli-
cable requirements~ and all other requirements and proceedings
incident to the proper adoption of said resolution have been duly
fulfilled, carried out, and otherwise observed;
4. . He is duly authorized to execute this Certificate;
and
5. The copy of the resoluticn annexed hereto entitled:
Release of the Lien of the utility Services Taxes for the
payment cf the Water Revenue Bonds, Series 1973, City of Ceoee, Fla.
is a true, correct, and compared copy of the original resolution
referred to in said extracts and as finally adopted at said meet-
ing and, to the extent required by law, as thereafter duly signed
or approved by the proper officer or officers of the City
Of- Deoee which resolution is on file and of record.
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this 5
WITNESS my hand and the seal of the City of Ocoee
day of Feb. , 19--2.Lt.
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Y01(1{.4 \~M.~
(SEAL)
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, EXJI'RACTS FROM THE' MINUTES OF A
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MEETING OF- THE
Board of Commissioners
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OF
City of GeaRs
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HELD ON THE
5
DAY OF
Fpb.
, 19..1iL
The
Board of City Commissioners
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of The City of Or-aee
met in Regular meeting at City ~all
. in ,the of
City Ocoee FIa . , cat
7l~O ' o'clock o .M. on the c:; day of ~ohl ,
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19~, the place, hour, and date duly established for the hold-
inq of such meeting.
The
~~a y or
called the meeting to order
and on roll call the following answered present:
Robert ,Lyle
,
David Har'Jsr
,
Ca rmon Ha mby
,
Raymond Crawford
and the following were absent:
f,Jone
,
,
The
f11a y or
declared a quorum present.
A Resolution entitled:
Release d~,th8 Lien on the utility Services taxes for theoayment
of the"LlJattlr Revenue Bonds, Series 1973 City of Ocoee, Fla.
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was introduced by Mr. Robert Dowell
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Said Resolution was then read in f~ll and discussed
and considered.
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Mr.
RAymond Crawford
then moved the adoption
Robert Lyle
of the Resolution as introduced and read.
Mr.
seconded the motion, and, on roll call, the following voted "Aye":
Cr:::>!IIrn-rd, ly1o, Hamhy, HarDer
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and the following voted "Nay":
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The
~~ a y 0 r
thereupon declared the motion
carried and the Resolution adopted as introduced and read.
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There being no further business to come before the
meeting, upon motion duly made and seconded, the meeting was
adjourned.
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