R-83-433• •
RESOLUTION N0. 433
RESOLUTION AMENDING RESOLUTION NO. 394 ADOPTED
BY THE CITY COUNCIL OF THE CITY OF CLERMONT,
FLORIDA, ON MARCH 23, 1982, ENTITLED:
"RESOLUTION PROVIDING FOR THE ACQUISITION,
CONSTRUCTION AND ERECTION OF EXTENSIONS AND
IMPROVEMENTS TO THE MUNICIPAL WATER AND SEWER
FACILITIES OF THE CITY OF CLERMONT, FLORIDA;
AUTHORIZING ISSUANCE BY THE CITY OF NOT
EXCEEDING $700,000 PRINCIPAL AMOUNT OF WATER
AND SEWER REVENUE BONDS, SERIES 1982, TO
FINANCE A PART OF THE COST THEREOF; PLEDGING
THE NET REVENUES OF SAID FACILITIES AND
CERTAIN MUNICIPAL EXCISE TAXES TO SECURE
PAYMENT OF THE PRINCIPAL OF AND INTEREST ON
THE BONDS; PROVIDING FOR THE RIGHTS OF THE
HOLDERS OF THE BONDS; AND AUTHORIZING ISSUANCE
BY THE CITY OF NOT EXCEEDING $700,000
PRINCIPAL AMOUNT OF 1982 WATER AND SEWER
REVENUE BOND ANTICIPATION NOTES IN
ANTICIPATION OF THE ISSUANCE OF SAID BONDS,
PROVIDING FOR THE PAYMENT OF SAID NOTES AND
ENTERING INTO CERTAIN COVENANTS AND AGREEMENTS
WITH THE HOLDERS THEREOF;" FOR THE PURPOSE OF
CORRECTING AN ERROR IN THE DEFINITION OF THE
TERM "FRANCHISE TAX" CONTAINED THEREIN.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CLERMONT, FLORIDA, as follows:
Section 1. Authority for this Resolution. This resolu-
tion is adopted pursuant to the provisions of Part II, Chapter
166, Florida Statutes (1982), and other applicable provisions of
law.
Section 2. Findings. It is hereby ascertained, deter-
mined and declared as follows:
A. On March 23, 1982, the City Council of the City of
Clermont, Florida (the "Issuer") by Resolution No. 394 (the
"Original Instrument"), the title of which is quoted in the title
of this resolution, authorized the issuance of not exceeding
$700,000 principal amount of Water and Sewer Revenue Bonds,
Series 1982, of the Issuer (the "Bonds") to finance a part of the
cost of the acquisition, construction and erection of extensions
and improvements to the sewer facilities of the combined munici-
pal water and sewer system of the Issuer.
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B. The Issuer has entered into a loan agreement with
the United States of America, acting through the Farmers Home
Administration, U.S. Department of Agriculture (the
"Government"), whereby the Government has agreed to purchase the
Bonds.
C. It is and was the intention
Government that the franchise tax levied
Issuer pursuant to an agreement with Flo
under the authority of an ordinance duly
September 22, 1970, be pledged as a part
payment of the principal of and interest
of the Issuer and the
and collected by the
rida Power Corporation
enacted by the Issuer on
of the security for the
on the Bonds.
D. Although said franchise tax is levied and collected
by the Issuer pursuant to an agreement with Florida Power
Corporation, the definition of the term "Franchise Tax" contained
in Section 1.01 of the Original Instrument refers to the
franchise tax "...levied and collected by the Issuer pursuant
to an agreement with Florida Power and Light Company....'°
E. The Issuer desires to correct the definition of the
term °'Franchise Tax" contained in the Original Instrument, and it
is appropriate and desirable to amend the Original Instrument to
make such correction.
F. The Issuer has determined that it is in the best
interest of the Issuer and its citizens and inhabitants that the
definition of "Franchise Tax" contained in the Original
Instrument be corrected to reflect that the above-described
agreement was entered into with Florida Power Corporation.
Section 3. Amendment. The definition of the term
"Franchise Tax" contained in Section 1.01 of the Original
Instrument is hereby amended to read as follows:
"'Franchise Tax' shall mean the excise tax levied and
collected by the Issuer pursuant to an agreement with Lake Apopka
Natural Gas District for a period of thirty (30) years from the
date thereof, by reason of having granted to said company the
right to supply natural gas to the Issuer and its inhabitants,
under the authority of an ordinance duly enacted by the Issuer on
November 17, 1959, and the excise tax levied and collected by the
Issuer pursuant to an agreement with Florida Power Corporation,
for a period of thirty (30) years from the date thereof, by
reason of having granted to said company the right to supply
electric light and power facilities and services to the Issuer
and its inhabitants, under the authority of an ordinance duly
enacted by the Issuer on September 22, 1970."
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Section 4. Original Instrument to Continue in Force.
Except as hereby amended, the Original Instrument shall remain in
full force and effect.
Section 5. Effective Date. This resolution shall take
effect immediately upon its adoption.
DONE AND RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CLERMONT, LAKE COUNTY, FLORIDA THIS 13 DAY OF June , 1983.
ATTEST
~I/
Cit lerk
CITY OF CLERMONT, FLORIDA
Mayor
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