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HomeMy WebLinkAbout1705 . . ~ by the Church in the design, construction, erection, fur- nishing and equipping of a church building on property described as follows: N. 70 feet of Lot 6, Plk. '1', Fee & May~s A/D. The East 186.12 feet of the West 211.12 feet of the I~ cf Lot 9?, Garden City Farms, as per plat thereof re- corde~ in plat Book 2, Page 5, public records oP St. Lucie Couaty, Florida. xhich property on the date of the adoption of this resolution is not mortgaged or othenrise encumbered unless such aoortgages, liens or ott~er encumbraaces are hereinafter more ftilly des- cribed. Ftirther, this resolution is not a mortgage on Lhe herei~above described property and shsll not be construed aa creating or authorising th e creation of a mortgage or lien ' on or against such property. 6. The Church xill establish a Building Fund Account in a local bank and the Treasurer or duly authori$ed person of the Church is hereby instructed and directed to deposit froon time to tima in such Account the proceeds derived t'rom the sale of the bonds issued hereunder as the same are realised. The money deposited in such account ~rill not be used or expended except for the purposes authorized in the res~•:ution or for the payn~ent of the bonds issued hereunder and that WithdraWals from such Account shall be by check or draft of the Church signed by ~ at least tKO officers of the Church. ; i SBCTION IX: ln addition to the regular maturity schedule for redemption of bonds ' as set orth in the Broohure, the bonds shall be redeemable at the option of the ~ Church, in xho2a or in part, on any interest payment date, upon not less than : thirty {30) days published notice and by the payment of the principal amount of ' ; each bond to be redeemed and accrusd interest thereon to the date of redemption. ; SECTION That the Church hereby reserves and retains the right to authorize ~ y~sequent resolution or resolutions, the issuance of additional bonda for the purposes set forth in SECTZON ~~III (3) hereof, provided that such additional bonds are secured in the same manner and to the same extend as the bonds issued hereunder. ~ . ~ ~ SBCTION XI: That in the event any one of the several honds issued hereunder is ~ ; os , s o en or d~atroyed, a Replacement Certificate for such bond may be issued ~ ~ upon sFrorn affidavit of the o~ner of the bor.ds, such affidavit identifying the ~ bond and stating the circumstances under r+hich it Was lost, stolen or destroyed. I Such affidavit shall also contain an agreement indemnitying the Church and the Paqing Agent for this bond issue against all losses by reason of the issuance of such Rsplacement Certificate. Each Replacetnent Certificate shall identify the original bond Which it replaces and shall be signed by the same officers of the Church vho signed the original bond or their successors in office. ~ ~e Paying Agent for this bond issue shall be notified of the issuance of each ~ Replacement Certificate, aad such notiee st~all identify the original bond for ~ xhich the Replacement Certificate is issued and shall instrnet and direct said ~ Payiag Agent to refuse payment on the original bond if it~shall thereafter be ( presented for paqa~ent. ~ SECTION XII: Further, the Church is hereby authorized and d;rected to file a ~ cert e copy of said resolution for record in the appropriate records of the locality in xhich the above described property is situated. ADOPTSD bq the affirmative vote of the members of the GAl~EN CITY t~URCH OF CHRZST~ Fort Pierce, Florida, this 23rd day of November, 1969. ~ ATTF.3T: -4- BO~K1~ P~Gf~ JU~i t - - ~ ~ : : - ~ .