R-80-349• •
RESOLUTION N0. 349
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CLERMONT, LAKE COUNTY,
FLORIDA, AUTHORIZING THE PURCHASE OF THE REAL PROPERTY REFERRED TO
HEREIN, UPON THE TERMS AND CONDITIONS SPECIFIED HEREIN; AUTHORIZING
THE PLEDGING OF GASOLINE TAX REVENUES.
WHEREAS, the City of Clermont has heretofore entered into an Option Agreement
with The Exchange National Bank of Lake County, said Agreement dated January 15, 1980,
and
WHEREAS, the said Option Agreement granted to the City of Clermont an exclusive
option to purchase the following described property:
Lots 1, 3 and 5, and the East 31 feet of Lot 7;
Lot 2, Less the South 40 feet of the West 31 feet;
Lot 4, Less the West 31 feet; Lot 6, Less the
West 31 feet; and the East 31 feet of the North
10 feet of Lot 8; all in Block 77, according to the
Official Map of the City of Clermont, Florida, recorded
in Plat Book 8, pages 17 to 23 inclusive, Public Records
of Lake County, Florida.
WHEREAS, the City Council has determined that said purchase is in the best interests
of the City of Clermont and has determined that the said Option Agreement shoulu be
exercised in accordance with the provisions therein.
WHEREAS, the City Council has determined that it is necessary to borrow the sum
of ONE HUNDRED SIX THOUSAND AND NO/100 DOLLARS ($106,000.00) from The Exchange National
Bank of Lake County and that the tax revenues derived from gasoline tax should be
pledged as security for the said loan.
NOW THEREFORE BE IT RESOLVED:
1. The City of Clermont hereby elects to exercise its exclusive option to
purchase the above-described real property upon the terms and conditions specified in
that certain Option Agreement dated January 15, 1980, by and between the City of Clermont
and The Exchange National Bank of Lake County.
~. Th.e City of Clermont is fur_ther_ authorized to borrow the sum of ONE HUNDRED
SIX THOUSAND AND NO/100 DOLLARS ($106,000.00) from The Exchange National Bank of Lake
County on the following terms, said monies to be used for the purpose of purchasing the
real property above-described.
3. The City of Clermont is further authorized to pledge and does hereby pledge
the tax revenues derived from gasoline tax as security for the said loan.
4. The appropriate City officials are hereby authorized to close the transaction
and the loan under the terms and conditions specified in the said Option Agreement,
copy attached and made a part hereof.
HOVIS AND BAIRD, ATTORNEYS AT LAW, P.O. DRAWER 848, CLERMONT, FLORIDA 32711
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DONE AND RESOLVED this 1 3th day of May 1980.
CITY OF CLERMONT
BY
CLAUDE E. SMOAK, JR., Mayor
ATTEST:
SANDRA 0. ROZAR, Ci y erk
HOVIS AND BAIRD, ATTORNEYS AT LAW, P.O. DRAWER 848, CLERMONT, FLORIDA 32711