R-72-203RESOLUTION NO. 203
RESOLUTION AUTHORIZING, EMPOWERING AND
DIRECTING THE MAYOR, CITY CLERK, AND
CITY ATTORNEY OF THE CITY OF CLERMONT,
FLORIDA, OR ANY ONE OF SUCH OFFICERS
TO TAKE SUCH ACTION AND STEPS AND TO
EXECUTE SUCH INSTRUMENTS NECESSARY OR
DESIRABLE IN THE ISSUANCE AND DELIVERY
OF $1,540,000 WATER AND SEWER REVENUE
REFUNDING BONDS, SERIES 1972 OF SUCH
CITY DATED NOVEMBER 1, 1972.
BE IT RESOLVED BY THE ,CITY COUNCIL OF THE CITY OF CLERMONT,
FLORIDA, that:
SECTION 1. It is hereby found, ascertained and deter-
mined that:
A. The City of Clermont, Florida (hereinafter referred
to as "City"), has by Ordinance enacted by the City Council on
December 12, 1972, authorized the issuance of $1,540,000 Water
and Sewer Revenue Refunding Bonds, Series 1972, dated November 1,
1972 ,(hereinafter called "Ordinance" and "1972 Bonds" respectively)
for the purposes of providing for the refunding of $1,700,000 prin-
cipal amount of outstanding Water and Sewer Revenue Bonds of the
City dated November 1, 1970 (hereinafter referred to as "Outstand-
ing Bonds").
B. The Ordinance sets forth the procedure whereby such
Outstanding Bonds of the City may be paid or redeemed in accordance
with the ordinance authorizing the issuance of such Outstanding Bonds.
C. The Ordinance requires' the City to enter into an
Escrow Deposit Agreement, with a bank or trust company to be desig-
nated by the City, on or prior to delivery of the 1972 Bonds in
are each designated agents of the City in connection with the,
issuance and delivery of the 1972 Bonds. Such officials and
persons are authorized and empowered, collectively or individually,
to take all action and steps and to execute any and all instruments,
documents or contracts on behalf of the City which are necessary or
desirable in connection with the issuance and delivery of such 1972
Bonds and which are not inconsistent with the terms and provisions
of the Ordinance.
SECTION 3. This Resolution shall take effect upon its
, adoption.
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