HomeMy WebLinkAbout0179 secured by a first lien on and pledqe of the •net revenues of the
System in the manner provided in the 1978 Resolution.
IT IS FURTHER ORDERED AND ADJUDGED that the issuance by ~
the Fort Pierce Utilities Authority of not exceeding $33,000,000
Special Obligation Bonds, Series 1978A, to be numbered consecutively
from one upward, to be in the denomination of $5,000 each, to be
dated and to bear interest at not exceeding the maximum rate autho-
rized by law, payable semiannually, and to mature annually or semi-
annually in such years, and in such amounts, all as shall be subse-
quently determined by resolution of Plaintiff, is for a proper legal
and corporate public purpose and is fully authorized by law, and that
the 1978A Bonds and each of them to be issued as aforesaid-and all
proceedings incident thereto are hereby validated and confirmed.
The 1978A Bonds are to be issued to pay part of the cost of refunding
the Refunded Bonds and as and when so issued will be payable from
and secured by a pledge of and a first lien upon certain escrow
deposit income in the manner described in the 1978A Resolution and
an Escrow Deposit Agreement to be entered into by Plaintiff with a
bank or trust company.
There shall be stamped or written on the back of each of
the 1978 Bonds and the 1978A Bonds a statement in substantially the ~
following form:
This Bond is one of a series of Bonds which
we~e validated and confirmed by judgment of
the Circuit Court for St. Lucie County,
Florida, rendered on the day of ,
, 1978.
' Chairman, Fort Pierce Utilities
Authority, Fort Pierce, Florida
~ provided, howeve~, that should an appeal be taken from this judgment
within the period of thirty days, with respect to either issue of
bonds, then and in that event the issue of bonds with respect to
which the appeal is taken shall not be delivered to the purchaser
or purchasers unless and until a mandate of the Supreme Court of
Florida affirming this judgment~shall have been recorded in the
office of the Clerk of this Court. ~
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