R-73-204 fra
EXTRACTS FROM THE MINUTES OF A Regular
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MEETING OF THE CITY COUNCIL
OF CITY OF CLERMONT, FLORIDA
HELD ON THE 13th DAY OF FEBRUARY , 1973
The CITY COUNCIL
of CITY OF CLERMONT, FLORIDA
met in REGULAR meeting at COUNCIL CHAMBERS
in the City of CLERMONT FLORIDA , at
7:30 o'clock P.M. on the 13th day of FEBRUARY
19 73, the place, hour, and date duly established for the hold-
ing of such meeting.
The MAYOR called the meeting to order
and on roll call the following answered present:
CLAUDE E. SMOAK,JR. DON E. SMITH
CHARLES B. BEALS CARLISLE A. BYRD,JR.
GEORGE SCHROEDEL
and the following were absent:
The MAYOR declared a quorum present.
A Resolution entitled:
NUMBER 204
RESOLUTION AUTHORIZING AND DIRECTING THE INVESTMENT
OF MONEYS HELD IN TRUST COMPANY OF FLORIDA,
ORLANDO, FLORIDA •
was introduced by Mr. BEALS
Said Resolution was then read in full and discussed
and considered.
q
Mr. BEALS then moved the adoption
of the Resolution as introduced and read. mr. BYRD
seconded themotion, and, on roll call, the following voted "Aye ":
SMOAK, SMITH, BEALS, BYRD AND SCHROEDEL
and the following voted "Nay ":
The MAYOR thereupon declared the motion
carried and the Resolution adopted as introduced and read.
* * * * * * * * * *
There being no further business to come before the
meeting, upon motion duly made and seconded, the meeting was
adjourned.
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411/
RESOLUTION AUTHORIZING AND DIRECTING THZ IN-
VESTMENT OF MONEYS HELD IN TRUST COMPANY
OF FLORIDA, ORLANDO , FLORIDA.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CLERMONT,
FLORIDA, (hereinafter called "City ") that:
SECTION 1. It is hereby ascertained, found and determined
as follows, that:
A. The City of Clermont, Florida by ordinance enacted on
December 12, 1972, authorized the issuance of not exceeding
$1,540,000 Water and Sewer Revenue Refunding Bonds, Series 1972,
dated November 1, 1972 (hereinafter called "Ordinance" and "1972
Bonds" respectively) for the purpose of refunding a portion of the
Water and Sewer Revenue Bonds, dated November 1, 1970 (hereinafter
referred to as "outstanding bonds ").
B. The Ordinance required the City to enter into an
Escrow Deposit Agreement with theTRUST COMPANY OF FLORIDA
Florida, as Escrowee prior to the delivery of the 1972 Bonds to in-
sure that the procedure required for the retirement of the portion
of the outstanding bonds, as such term is defined in the Ordinance,
will be followed.
C. Such Escrow Deposit Agreement to be entered into, as
above provided, requires that the moneys deposited into the Retire-
ment Fund with the Escrowee, pursuant to such Escrow Deposit Agree-
.
ment, be invested in obligations of the United States of America, as
such term is defined in the Ordinance, or placed in time deposits
with a bank or banks represented by Certificates of Deposit, as di-
rected by the City pursuant to a resolution duly adopted by the City
Council.
SECTION 2. The Escrowee is authorized and directed to in-
vest the moneys held in the Retirement Fund in Certificates of De-
posit, as set forth in the schedule attached hereto as Exhibit "A ".
SECTION 3. This Resolution shall take effect immediately
upon its adoption.
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EXHIBIT "A"
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CERTIFICATE OF RECORDING OFFICER
r♦
The undersigned HEREBY CERTIFIES T L _IES �. a :
1. SHe is the duly appointed, qualified, and acting
CLERK of the CITY COUNCIL
(herein called the CITY OF CLERMONT ), and keecer of the
records thereof, including the minutes of its proceedings;
2. The annexed copy of extracts from the minutes of
the REGULAR meeting of the CITY COUNCIL •
held on the 13th day of FEBRUARY , 19 73, is
a true, correct, and compared copy of the whole of the original
minutes of said meeting on file and of record'insofar as the
same relate to the resolution referred to in said extracts and
to the other matters referred to therein;
3. Said meeting was duly convened in conformity with
all applicable requirements; a proper quorum was present through .
out said meeting and the resolution hereinafter mentioned was
duly proposed, considered, and adopted in conformity with appli-
cable requirements; and all other requirements and proceedings
incident to the proper adoption of said resolution have been duly
fulfilled, carried out, and otherwise observed;
4. SHe is duly authorized to execute this Certificate;
and
5. The copy of the resolution annexed hereto entitled:
NUMBER 204
RESOLUTION AUTHORIZING AND DIRECTING THE INVESTMENT
OF MONEYS HELD IN TRUST COMPANY OF FLORIDA,
ORLANDO, FLORIDA
is a true, correct, and compared copy of the original resolution
referred to in said extracts and as finally adopted at said meet-
ing and, to the extent required by law, as thereafter duly signed
or approved by the proper officer or officers of the CITY OF
CLERMONT CITY COUNCIL , which resolution is on file and of record.
WITNESS my hand and the seal of the CITY
this 13th day of FEBRUARY , 19 73.
DOLORES W. CARROLL
CITY CLERK
• (SEAL)