HomeMy WebLinkAbout1702 and in the form of registered bonds without coupons, in the denomina-
- lion of 65,000 each or any multiple thereof, to be dated, and to mature
at such dates (not to exceed 40 years from the date of issuance), as
may be fixed by Plaintiff by resolution to be adopted at or before
delfvery of the Bonds, is fora proper, lawful public purpose and is
fully authorized by law, and that the Bonds and each of them to be
issued and all proceedings incident to the issuance of the .Bonds are
hereby validated and confirmed. The -Bonds may bear interest at such
rate or rates as Plaintiff may by resolution determine, but such riates in -
-the aggregate with respect to all .maturities of the Bonds shall not
.exceed 180 basis points over the 20 "bond buyer" Average Yield Index
published innmediately preceding the first day of the calendar month in
which the Bonds, are sold, unless the Bonds are rated A, Aa or Aaa by
Moody's Invest~^s Service, Inc. , or A, AA, AAA by Standard and
Poor's Corporation, or unless the State Board of Administration shall
approve a higher rate, or such higher rate shall otherwise be permitted
by applicable law. The Bonds as and when so issued will be payable
from and secured by a pledge of the Pledged Revenues and/or the
Pledged Funds and shall be further secured as set forth herein and- in
the Enabling Resolution.
Done and ordered at Fort Pierce, St. Lucie County, Florida,
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this day of October, 1980..
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