HomeMy WebLinkAbout02-057RESOLUTION NO. 02-57
A RESOLUTION AMENDING RESOLUTION NO. 01-316 ADOPTED BY THE
BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA
ON DECEMBER 18, 2001, AND ENTITLED:
"A RESOLUTION SUPPLEMENTING RESOLUTION NO. 92-167, OF THE
BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY,
FLORIDA, ADOPTED ON JUNE 11, 1992, AS SUPPLEMENTED;
AUTHORIZING THE ACQUISITION AND CONSTRUCTION OF
ADDITIONS, IMPROVEMENTS AND EXTENSIONS TO THE COUNTY'S
NORTH HUTCHINSON ISLAND WATER AND SEWER SYSTEM AND
THE SATISFACTION OF CERTAIN OBLIGATIONS INCURRED IN
CONNECTION WITH THE ACQUISTION OF THE SYSTEM;
PROVIDING FOR THE ISSUANCE OF NOT EXCEEDING $1,900,000
NORTH HUTCHINSON ISLAND WATER AND SEWER SYSTEM
REVENUE BONDS, SERIES 2001, TO FINANCE THE COST THEREOF;
PROVIDING FOR THE PAYMENT OF THE BONDS FROM THE
PLEDGED REVENUES; MAKING CERTAIN COVENANTS AND
AGREEMENTS IN CONNECTION THEREWITH; AUTHORIZING THE
APPROPRIATE OFFICERS OF THE COUNTY TO PROCEED TO
DEVELOP NECESSARY DOCUMENTS TO SELL THE BONDS AT
NEGOTIATED SALE; AUTHORIZING THE COUNTY ADMINISTRATOR
TO MAKE CERTAIN CERTIFICATIONS ON BEHALF OF THE COUNTY
REGARDING THE PRELIMINARY OFFICIAL STATEMENT FOR THE
BONDS AND TO DETERMINE THE DATE OF SALE OF, AND THE
DETAILS OF, THE BONDS, AND TO EXECUTE A BOND PURCHASE
AGREEMENT; PROVIDING FOR THE MAKING OF CONTINUING
DISCLOSURE WITH RESPECT TO THE BONDS; AUTHORIZING THE
OFFICERS AND OFFICIALS OF THE COUNTY TO EXECUTE AND
DELIVER THE BONDS AND SUCH AGREEMENTS AND
CERTIFICATES AS ARE NECESSARY AND DESIRABLE IN
CONNECTION WITH THE SALE, ISSUANCE AND DELIVERY OF THE
BONDS; AND PROVIDING AN EFFECTIVE DATE."
TO REDESIGNATE THE BONDS AS SERIES 2002 AND AMEND CERTAIN
DEFINITIONS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Board of County Commissioners (the "Board") of St. Lucie County (the
"County") has previously adopted Resolution No. 01-316 (the "Original Resolution") referred to by
title in the title above; and
WHEREAS, it is necessary and desirable to redesignate the Bonds as "Series 2002" and to
amend certain definitions contained in Exhibit C to the Original Resolution based on the
commitment for bond insurance for the Series 2002 Bonds; NOW THEREFORE,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, as follows:
Section 1. Amendments to Original Resolution. The Original Resolution be and the same hereby
is amended in the following respects:
A. Section 2.02 of the Original Resolution is amended to read as follows:
"Section 2.02 Authorization of Series 2002 Bonds. Subject and pursuant to the provisions
of this Series 2002 Bond Resolution and the Original Resolution, special, limited obligations of the
County, designated "North Hutchinson Island Water and Sewer System Revenue Bonds, Series
2002", shall be offered and sold in an aggregate principal amount not to exceed $1,900,000
(exclusive of original issue discount and/or premium), for the purpose of financing the 2002 Project
Costs and payment of Futures."
B. All references in the Original Resolution to the year 2001 in connection with the Series
designation of the Bonds, the definition of the Resolution or the definition of the Project shall be changed
to references to the year 2002.
C. Exhibit C to the Original Resolution, referring to certain definitions, is amended to read as
provided in Exhibit C attached hereto.
Section 2. Remaining Provisions Unaffected. The remaining provisions of the Original Resolution
shall remain in full force and effect.
Section 3. Severability. If any one or more of the provisions of this amending resolution should
be held to be contrary to any express provisions of law or to be contrary to the policy of express law, though
not expressly prohibited, or to be against public policy, or should for any reason whatsoever be held invalid,
then such provisions shall be null and void and shall be deemed separate from the remaining provisions of,
and in no way affect the validity of, all the other provisions of the Original Resolution.
Section 4. Effective Date. This Resolution shall become effective immediately upon its adoption.
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Passed and Adopted this 15th day of January 2002, at a regular meeting duly called and held.
(SEAL)
ST. LUCHE COUNTY, FLORIDA
Chairman, t~oard of County
Commissioners
· C[erl~ of the Circt~t Co~~officio
Clerk of the Board
APPROVED AS TO FORM AND
CORRECTNESS:
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EXHIBIT C
DEFINITIONS
"Bond Insurer" means Ambac Assurance Corporation. The Bond Insurer shall be deemed to be the
Credit Facility Issuer with respect to the Series 2002 Bonds.
"Commitment" means the Commitment No. 22412, dated December 18, 2001, issued by the
Bond Insurer to the County for the Policy.
"Paying Agent" or "Bond Registrar" means U. S. Bank, Fort Lauderdale, Florida, as paying agent
and registrar for the Series 2002 Bonds.
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