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HomeMy WebLinkAbout1502 RESOLUTION EXTRACTED FROM THE MINUTES OF CENTRAL CHURCH OF CHRIST ' FORT PIERCE, FLORIDA ~ "WHEREAS, the CENTRAL CHURCN OF CHRIST, Fort Pierce, Florida, a corporation formed for religious purposes, organized pursuant to the laws of the State of Florida, hereinafter called the Issuer, desires to borrow money for the purpose of the erection, i~rovement and construction of a place to worship as it desires, and to equip the i~rovements in order that they may be used for the purposes herein contained; and WHEREAS, it is the desire of the Issuer to authorize the issuance of a series of First Revenue Nine Percent Serial Sinking Fund Bonds: NOW, THEREFORE, BE IT RESOLVED by the CENTRAL CHURCH OF CHRIST, Fort Pierce, Florida: SECTION I: That the Issuer does by these presents hereby authorize the issuance of a ser~ of First Revenue Nine Percent Serial Sinking Fund Bonds to be dated September 10, 1975, and to be know~ as "Series of September 10, 1975", in the aggregate principal amount of EIGHTY THOUSAND DOLLARS (~80,000.00), at the rate of interest of nine percent (9~) per annwn, and the bond schedule containing the serial numbers, denominations, maturity dates, and methods of paying interest of the said bonds being issued as "Series of September 10, 1975", is attached hereto as Exhibit "A", and made a part hereof. SECTION II: That the said bonds issued hereunder shall be in the forms of coupon bonds and/or compound interest bonds and shall mature serially in accordance with the said schedule attached hereto. The coupon bonds shall bear interest from September 1Q, 1975, at the rate af nine percent (9X) per annum, payable semi-annually in accordance~with and upon the presentation and surrender of the respective interest coupons attached thereto as they severally mature. The compound interest bonds shall bear interest from September 10, 1975, at the rate of nine percent (9~) compounded semi-annually, and the interest together with the principal thereof, shall be payable on the maturity dates of the said bonds. Copies of the fornis of the said compound interest bonds, coupon bonds, interest coupons, and the Table of Maturity Yalues for the bonds of this series are set forth in Exhibit "B", attached hereto and made a part hereof. i . ~ SECTION III: That the said bonds of this series shall be executed for the Issuer ~ manua ly or by facsimile by the Trustees and/or Directors and attested manually or by ~ facsimile by the Secretary of its Board of Trustees and/or Oirectors, and that the ~ interest coupons attached to the said coupon bonds shall be executed by a facsimile of the signature of the Treasurer of said Issuer. SECTION IV: That there is hereby appropriated out of the first revenues of the ~ ~uer, each week, the sums hereinafter set forth, which sums are hereby irrevocably ~ pledged and assigned for the purpose of paying and securing the payment of the bonds ~ issued hereunder and the interest ther~on as the same shall mature. Such suns are ¢ as follows: ~ ~ From September 10, 1975 to March 10, 1990 -$189.00 per week ~ ~ From March 10, 1990 to September 10, 1990 -~201.41 per week ~ ~ The Treasurer or a duly authorized Assistant Treasurer of the Issuer is hereby in- ~ structed, authorized and directed to deposit such aledged and assigned sums weekly ~ in a Sinking Fund Account in and with the hereinafter named Paying Agent for this ~ bond issue. If the total revenues of the Issuer during any one week is less than the ~ sum herein above pledged and assigned, then an amount equal to such deficiency shall be.taken from the revenues received by the Issuer during the succeeding week or weeks ~ and deposited in the aforesaid Sinking Fund Account. ~ ~ . ~ ~ ~ - g~~x243 Pp~~1~0? - - ~ ~Y.:. ~Y2 1ti'~'~