HomeMy WebLinkAbout0159 . (r~ On October 31, 1975, the County issued the 1975
Note to the holder of the 19T4 Note in exchange for the 197~
Note.
(s) On October 18, 1976, the County and the Company
received a rulfng from the Internal Revenue Service that
interes~ on bonds in the principal amount of $9,094,742 to
finance certain portions of the Revised Second Fhase Pro~ect
(the "Second Phase Pro~ect"} would be exempt ;rom Federal
income tax.
(t) On October 26, 1976 the Board passed and adopted
Resolution No. 76-103 (the "1976 P~ote Resolution"~ enti~led:
RESOLUTION AUTHORIZING THE ISSUANCE OF
I' AN $11,500,000 ST. LUCIE COUNTY POLLU- ~
TION CONTROL REVENUE BONDS (FLORIDA `
I • POWER & LIGHT COMPA:IY PROJECT), SERIES B,
; BOND ANTICIPATI0;1 NOTE PURSCiANT TO THE
; AUTHORITY OF SECiIOI~ 215•~31, FLORIDA
~ STATUTES TO EFFECT THE RENEWAL Or A
TEMPORARY LOAN PRESENTLY EVIDENCED BY -
~ A NOTE OF LIRE PRINCIPAL AMOUNT; PRO-
~ VIDING FOR THE TERt~.S OF SUCH BOND ANTICI-
~ PATION NOTE AND APPROVING THE FORM OF
SUCH NOTE; PROVIDING FOR THE EXCHANGE
f OF SUCH BOPtD ANTICIPATIOtd NOTE FOR THE
~ OUTSTAr:DIPJG NOTE; AiiD PROVIDING THAT
{ SUCH BOND ANTICIPATIOI'v VOTE SH~LL 1~OT ~
I CONSTITUTE A DEBT, LIABILITY OR OBLIGA-
TIOP~1 OF ST. LJCIE COi1NTY OR OF THE
i STATE 0~' FLGRIDA QT~ Or^ A2JY POLITICAL
~ SUBDIViS~ON THEREOF.
~ autnoriz~ng the.issuance in exchang~ :or the 1977 'riote of a
~ bond ant~cipation ncte o° 1'xe orincipal ~az:iount, of s~:~i~~r
~ for:~ ar.d tencr, da~ed Jct~ber 31, i97o and s~at~d ~o ;.~~ture,
~
~ sub~ect ~o prior redemptior. in ~hole ot ir. part at an~ ~ir:~e,.
~
~ or~ Au~us~ 19, ? 977 (,the "197~ i~o.e") .
~
~ ! ui C.^. :Vove:nber ~y7E !~ctober 31, 197c be_ng a
~ Sunda;~ j, the Courty ~ssued ;he i9?6 `7a :e to ~he hoi :er
~ _
~r.e _9?5 :iote i~ e~cnznge °~~r ~he '1ct~.
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~~oK 263 P~cE i4~ ~ -
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