HomeMy WebLinkAboutResolution_06-79/80_02/26/1980 RESOLUTION NO. 6- 79/80
RESOLUTION AMENDING A RESOLUTION ENTITLED:
"A RESOLUTION OF THE VILLAGE COUNCIL OF
THE VILLAGE OF TEQUESTA, FLORIDA, PROVIDING
FOR THE ACQUISITION AND CONSTRUCTION OF
DRAINAGE AND STREET IMPROVEMENTS IN SAID
VILLAGE; AUTHORIZING THE ISSUANCE OF NOT
EXCEEDING $910,000 IMPROVEMENT REVENUE BONDS,
SERIES 1979, TO PAY THE COSTS THEREOF;
PROVIDING FOR THE RIGHTS OF THE HOLDERS OF
SUCH BONDS; PROVIDING FOR THE PAYMENT THEREOF;
MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS
IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS;
AND PROVIDING AN EFFECTIVE DATE," HERETOFORE
ADOPTED.
WHEREAS, the Village of Tequesta has heretofore,
on the 24th day of July, 1979, duly adopted Resolution No.
10 -78/79 authorizing the construction of drainage and street
improvements and providing for the issuance of not exceeding
$910,000 Improvement Revenue Bonds, Series 1979 (the "Bonds "),
to pay the cost of such improvements; and
WHEREAS, the Village deems it necessary and in
the public interest to amend said Resolution in certain
respects; now, therefore,
BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, FLORIDA:
SECTION 1. Section 2N of Resolution No. 10- 78/79,
adopted on July 24, 1979, and referred to by title in the
title above (hereinafter called the "Resolution "), be and
the same is hereby amended to read as follows:
"SECTION 1.02 DEFINITIONS.
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f
N. "Authorized Investments" shall mean any of
the following, if and to the extent that the same are
legal under the Laws of Florida for the investment of the
proceeds of the obligations and the Pledged Funds: (1)
direct general obligations of, or obligations the payment
of the principal of and interest on which are unconditionally
guaranteed by, the United States of America, or a fund or
a unit investment trust comprising a composite of such
obligations; (2) savings accounts, deposits or time certi-
ficates of deposit in any bank, trust company or savings
and loan association having a combined capital and surplus
of not less than $2,000,000, provided such accounts,
deposits or certificates are either (a) collaterally
secured by securities which are described under clause (1)
of this definition for the investment of moneys, or colla-
terally secured in accordance with the Laws of the State
of Florida, either of which must have a market value at
least equal to the amount so deposited or; (b) such accounts
or deposits shall be insured by an agency of the United
States Government."
Section 2. All the remaining provisions of
the Resolution shall remain in full force and effect and
are hereby ratified and confirmed.
Section 3. This amendatory resolution shall
take effect immediately upon its passage.
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THE FOREGOING RESOLUTION was offered by Council -
member W. Harvey Mapes , who moved its adoption. The
motion was seconded by Councilmember Joseph D. Yoder ,
and upon being put to a vote, the vote was as follows:
FOR ADOPTION AGAINST ADOPTION
Howard F. Brown Leslie A. Cook
W. Harvey Mapes_
James H. Ryan
Joseph D. Yoder
The Mayor thereupon declared the Resolution duly passed
and adopted this 26 day of February , A.D., 1980.
MAYOR OF TEQUESTA
Howard F. Brown
ATTEST:
Vill e Clerk
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