Resolution 1989-002
JANUARY 3, 19S9
RESOLUTION NO. 39-2
A RESOLUTION PRESCRIBING THE FORMS, AND
AUTHORIZING THE EXECUTION AND DF.LIVERY, OF
AMENDMENTS TO THE INDENTURES OF TRUST
SECURING THE COUNTY'S SOLID WA~TE REVENUE
BONDS (RESOURCE RECOVERY OF COLLIER, INC.
PROJECT), SERIES 1985A AND THE COUNTY'S SOLID
WASTE REVENUE BONDS (RESOURCE RECOVERY OF
COLLIER, INC. PROJECT), SERIES 1985B; AND
PRESCRIBING AN EFFECTIVE DATE HERETO.
WHEREAS, Collier County, Florida (the "Issuer") is
authorized by the provisions of the Florida Industrial
Development Financing Act, being Part II of Chapter 159, Florida
statutes (the "Act"), to, among other things, issue revenue bonds
for the purpose of using the proceeds thereof to acquire,
construct, equip and install certain capital projects in order to
promote the economy of the state of Florida and welfare of the
citizens thereof; and
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WHEREAS, the Issuer has heretofore issued its $70,400,000
Solid Waste Revenue Bonds (Resource Recovery of Collier, Inc.
project), Series 1985A (the "Series 1985A Bonds") and its
$17,600,000 Solid Waste Revenue Bonds (Resource Recovery of
Collier, Inc. project), Series 1985B (the "Series 1985B Bonds"),
pursuant to the Act in order to loan the proceeds thereof to
Resource Recovery of Collier, Inc. (the "Borrower") to finance
the acquisition, construction, equipping and installation of a
facility suitable for processing and disposing solid waste, which
facility shall be located in collier county; and
WHEREAS, the Series 1985A Bonds are issued pursuant to, and
secured by, an Indenture of Trust, dated as of December 31, 1985
(as amended, the "Series 1985A Indenture"), between the Issuer
and Sun Bank, National Association, Orlando, Florida (the //9
"Trustee"); and //
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WHEREAS. the Series 1985B Bonds are issued pursuant to, and
secured by, an Indenture of Trust, dated as of December 31. 1985
(as amended, the "Series 1985B Indenture"). between the Issuer
and the Trustee; and
or
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WHEREAS, the Issuer deems it appropriate and desirable to
reduce the amount of Series 1985A Bonds outstanding from
$70,400,000 to $48,000,000 and the amount of Series 1985B Bonds
outstanding from $17,600,000 to $12,000,000 and to amend the
Series 1985A Indenture and the Series 1985B Indenture in certain
respects in order to clarify matters contained therein:
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SECTION 3. AUTHORIZATION OF AMENDMENT TO THE SERIES
1985B INDENTURE. The Issuer hereby authorizes and directs the
Vice-Chairman of the Board of County Commissioners to e):ecute,
and its Clerk to attest under the seal of the Issuer, the Fourth
Amendatory Indenture of Trust relating to the Series 1985B
Indenture and to deliver such Fourth Amendatory Indenture of
Trust to the Trustee and does hereby authorize and direct the
execution, sealing and delivery of such Fourth Amendatory
Indenture of Trust'. All of the provisions of such Fourth /Zo
Amendatory Indenture of Trust when executed and delivered by the
Issuer as authorized herein and when duly authorized, executed
and delivered by the Trustee and consented to by the Borrower
shall be deemed to be a part of this Resolution as fully and to
the same extent as if incorporated verbatim herein, and such
Fourth Amendatory Indenture of Trust shall be in substantially
the form of the Fourth Amendatory Indenture of Trust attached
hereto as Exhibit B with such changes, amendments, modifications,
omissions and additions, including the date of such Fourth
Amendatory Indenture of Trust, as may be approved by said vice-
Chairman. Execution by the Vice-Chairman of such Fourth
JAHUARY 3, 1989
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA:
SECTION L AUTHORITY FOR THIS RESOLUTION. This
Resolution is adopted pursuant to the provisions of Part II of
Chapter 159, Florida Statutes, and other applicable provisions of
law.
SECTION 2. AUTHORIZATION OF'" AMENDMENT TO TIlE SERIES
1985A INDENTURE. The Issuer hereby authorizes and directs the
Vice-Chairman of the Board of County Commissioners to execute,
and its Clerk to attest under the seal of the Issuer, the Fourth
Amendatory Indenture of Trust relating ':0 the Series 1985A
Indenture and to deliver such Fourth Am,mdatory Indenture of
Trust to the Trustee and does hereby aut~orize and direct the
execution, sealing and delivery of such Fourth Amendatory
Indenture of Trust. All of the provisions of the Fourth
Amendatory Indenture of Trust when executed and delivered by the
Issuer as authorized herein and whBn duly authorized, executed
and delivered by the Trustee and consented to by the Borrower
shall be deemed to be a part of this Resolution as fully and to
the same extent as if incorporated verbatim herein, and such
Fourth Amendatory Indenture of Trust shall be in substantially
the form of the Fourth Amendatory Indenture of Trust attached
hereto as Exhibit A with such changes, amendments, modifications,
omissions and additions, including the date of such Fourth
Amendatory Indenture of Trust, as may be approved by said Vice-
Cha irman. Execution by the Vice-Chairman of such Fourth
Amendatory Indenture of Trust shall be deemed to be conclusive
evidence of approval of such changes.
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JAHUARY 3. 19S9
Amendatory Indenture of Trust shall be dep.med to be conclusive
evidence of approval of such changes.
SECTION 4. AUTHORIZED OFFICERS. The term "Clerk" as
used herein shall include any Deputy Clerk Qf the Board of County
.Commissioners if the Clerk is absent or unavailable to perform
his obligations hereunder.
SECTION 5. SEVERABILITY AND INVALID PROVISIONS. If any
one or more of the covenants, agreements or provisions herein
contained shall be held contrary to any express provision of law
or contrary to the policy of express law, though not expressly
prohibited, or against public policy, or shall for any reason
whatsoever be held invalid, then such covenants, agreements or
provisions shall be null and void and sha1.1 be deemed separate
from the remaining covenants, agreements or provisions and shall
in no way affect the validity of any of the other provisions
hereof or for the Series 19B5A Bonds or Series 1985B Bonds.
SECTION 6. REPEALING CLAUSE. All resolutions or parts
thereof of the Issuer in conflic~ with the provisions herein
contained are, to the extent of such conflict, hereby superseded
and repealed.
SECTION 7. EFFECTIVE DATE. This resolution shall take
effect immediately upon its adoption.
RESOLVED in Regular Session, this 3rd day of January, 1989.
(SEAL)
BOARD OF COUNTY COMMISSIO~g OF
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