Resolution 1996-099
...
"
,.. .
~L
!
"".., ..
;t
,;"t",_
t.'
,
.';'"
}.,
~ ' ..
t.:
l
1
,
r
!
t
!
!
.
.
.~
,
'I
I;
;1
11
,
.,
,1
FEB 2 7 1996
RESOLUTION NO. 96-..22-
A RESOLUTION SUPPLEMENTING ll-l CERTAIN
RESPECTS A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA,
ADOPTED ON THE DATE HEREOF AND ENTITLED: "A
RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF, COLLIER COUNTY, FLORIDA,
AUTHORIZll-lG THE ISSUANCE BY COLLIER COUNTY,
FLORIDA OF $2,145,000 AGGREGATE PRmCIPAL
AMOUNT OF COLLIER COUNTY, FLORIDA
GUARANTEED ENTITLEMENT REVENUE REFUNDING
BONDS, SERIES 1996 ll-l ORDER TO REFUND ALL OF
THE COUNTY'S OUTSTANDING GUARANTEED
ENTITLEMENT REVENUE BONDS, SERIES 1977 AND TO
FmANCE THE ACQUIsmON AND CONSTRUCTION OF
CERTAIN CAPITAL IMPROVEMENTS; PLEDGING THE
GUARANTEED ENTITLEMENT REVENUEs RECEIVED
BY THE COUNTY FROM THE STATE OF FLORIDA TO
SECURE PAYMENT OF THE PRmCIP AL OF AND
INTEREST ON SAID BONDS; PROVIDING FOR THE
RIGHTS OF THE HOLDERS OF SAID BONDS; PROVIDING
FOR THE ISSUANCE OF ADDmONAL BONDS FOR
ADDmONAL PURPOSES; AND PROVIDING FOR AN
EFFECTIVE DATE FOR TInS RESOLUTION"; PROVIDING
CERTAIN TERMS AND DETAILS OF SAID BONDS,
INCLUDING AUTHORIZll-lG A NEGOTIATED SALE OF
SAID BONDS AND THE AWARD OF SAID BONDS
PURSUANT TO THE COMMITMENT OF FIRST UNION
NATIONAL BANK OF FLORIDA; APPOmTING THE
PAYING AGENT AND REGISTRAR FOR THE BONDS;
AUTHORIZING THE EXECUTION AND DELNERY OF AN
ESCROW DEPOSIT AGREEMENT AND APPOmTING AN
ESCROW AGENT; AND PROVIDING FORAN EFFECTIVE
DATE FOR TIllS RESOLUTION.
SEIT RESOLVED BY TIIE BOARD OF COUNTY COMMISSIONERS OF
COI.J .wl{ COUNTY, FLORIDA:
&OO( 000 PA';t 123
"~'""""-,,,'-" ,,",.. '_~-,,-.'~- ,.~_..~ .- -,'-' --..__., _"."""'~_""^'."'''~<<.~_"._'_~_n.,_
- '_....,.,.'"..__._-'""'.__%..~-~.~,-,--_...~."
FEB 2 7 n1~
SECTION 1.
FINDINGS. It is hereby found and determined that:
(A) On the date hereof: the Board of County Commissioners of ColIier County,
Florida (the "Issuer"), duly adopted a resolution, the title of which resolution is quoted in the
title of this supplemental resolution (as supplemented, the "Resolution"), for the purposes
descn'bed therein, authorizing, among other tlUngs, the issuance of $2,145,000 Collier
County, Florida Guaranteed Entitlement Revenue Bonds, Series 1996 (the "Series 1996
Bonds"), for the principal purposes of refunding the Refunded Bonds and financing the
acquisition and COnstruction of the Series 1996 Project.
~
i
.
;!
i
,
,
.
i
(B) There is hereby authorized the financing of the Series 1996 Project and the
payment and refunding of the Refunded Bonds in order to achieve debt service savings, all
in the manner as provided by this Supplemental Resolution. For the payment and refunding
of said Refunded Bonds, the Issuer shall, as provided herein, deposit a portion of the
proceeds derived from the sale of the Issuer's Collier County, Florida Guaranteed Entitlement
Revenue Reftmding Bonds, Series 1996 (the 'Series 1996 Bonds"), together with certain
other moneys of the Issuer, in a special escrow deposit trust fund to, other than a cash
deposit, purchase direct U.S. Treasuzy obligations (the "Refunding Securities") which shall
be sufficient, tosether with investment earnings therefrom and such cash deposit, to pay the
Refunded Bonds as the same become due and payable or are redeemed prior to maturity, all
as provided herein and the hereinafter defined Escrow Deposit Agreement. Subsequent to
the defeasance of the Refunded Bonds, the Refimded Bonds shall no longer be payable from
or be secured by any portion of the Pledged Funds.
,
"
,
d
(C) The principal of and interest on the Series 1996 Bonds and all required sinking
fund and other payments shall be payable solely from the Pledged Funds as herein and in the
Resolution prgvided. The Issuer shall never be required to levy ad valorem taxes on any
piol=ty within its corporate territory to pay the principal of and interest on the Series 1996
Bonds or to rn.a1c the required sinking fund, reserve or other payments, and such Series 1996
Bonds shall nol ronstitute a lien upon any property owned by or situated within the territorial
limits of the Issuer.
ii'
;:l
;~
'l\.:
.
iI
:,t
(0) Due to the potential volatility of the market for tax-exempt obligations such
as the Series 1996 Bonds and the complexity of the transactions relating to such Series 1996
Bonds, it is in the best interest of the Issuer to sell the Series 1996 Bonds by a negotiated
sale, rather than at a specified advertised date, thereby pennitting the Issuer to obtain the best
possible price and interest rate for the Series 1996 Bonds. The Issuer acknowledges receipt
or the information required by Section 218.385, Florida Statutes, in connection with the
neW"'4fed sale ofthc SeDes.I996 Bonds. The aforementioned information is set forth in the
copy of the letter of rust Union National Bank of Florida, the purchaser of said Series 1996
Bonds (the .Purchaser") attached hereto as Exhibit A.
2
aOOK 000 PA~t 124
,.,
,
1
f
1
,~
- 'O'"''''_~_'__'"_''__~__W_''_'''_'~_____'__'~__'__~'~'~''_'.du'_OC'.. ,.,,,,_, ..,<
FEB 2 7 1996
(E) Prior to the adoption of this Supplemental Resolution, pursuant to a request for
proposals published by the Issuer, the Purchaser has offered to purchase the Series 1996
Bonds from the Issuer and lw submitted a commitment letter attached hereto as Exhibit B
(the "Commitment Letter") expressing the tmns of such offer, and the Issuer does hereby
find and detennine that it is in the best financial interest of the Issuer that the terms expressed
in the Commitment Letter be accepted by the Issuer.
(F) The Resolution provided that the Series 1996 Bonds shall mature on such dates
and in SllCh amounts, shall bear such rates of interest, shaIl be payable in such places and
shall be subject to such redemption provisions as shall be detennined by supplemental
\, ' resolution adopted by the Issuer; and it is now appropriate that the Issuer detennine such
l~ terms and details.
t.
; , (G) It is not reasonably anticipated that more than $10,000,000 of tax-exempt
i' obligations under Section 265(bX3) of the Code will be issued by the Issuer in calendar year
1996.
SECTION 2. DEFINTI10NS. When used in this Supplemental Resolution,
the terms defined in the Resolution shall have the meanings therein stated, except as such
definitions snaIl be hereinafter amended.
,
t
SECTION 3. AUTHORITY FOR THIS SUPPLEMENTAL
RESOLUTION. This Supplemental Resolution is enacted pursuant to the provisions of the
Act and other applicable provisions of law.
.;;
,I
.;1
I;
fi
'\'
'I
,
{i
~
J~
I
~!
,I
~J
f,
~
~
SECTION 4. AUTHORIZA nON AND DESCRIPTION OF SERIES 1996
BONDS. The Issuer hereby determines to issue a Series of Bonds in the aggregate principal
amount of $2,145,000, to be known as "Collier County, Florida Guaranteed Entitlement
Revenue Refunding Bonds, Series 1996," for the principal purpose of providing funds
sufiicient to refund the Refunded Bonds. Said Series 1996 Bonds shall be dated as of the
date of their issuance, shall be issued in the form of one fully registered Bond in the
denomination of $2,145,000, shall be numbered one preceded by the letter "R", shall bear
intezest from the date of their issuance, payable semi-annually, on April 1 and October 1 of
each year (the "Interest Dates"), commencing on October I, 1996, at the rate of 4.19<>>10 per
anoum, calc"IMed on the basis of a 30 day monthl360 day year, except as such rate may be
adjusted pursuant to Section 9 hereof. The final maturity of the Series 1996 Bonds shall be
0ct00er 1,.2002 and the principal thereof shall be paid in such amounts on October 1 of such
yearus scHorth on Schedule 1 attached hereto.
aDDK
000 PA~t 125
I
j
l.
I
.
I
I
I
j
;
I
1
.j
I
j
"
I
I
'.
FEB 2 7 1996
SECIlON S. REDEMPTION PROVISIONS. The Series 1996 Bonds shaIl
not be subject to redemption prior to maturity.
SECIlON 6. SALE OF THE SERIES 1996 BONDS. The Series 1996
Bonds shall be sold to the Purchaser at a purchase price equal to 100"10 of the aggregate
principal amount thereof.
SECIlON 7. AUTHORIZATION TO EXECUTE ESCROW DEPOSIT
AGREEMENT. The Issuer hereby authorizes and directs the Chainnan or Vice-Chainnan
of the Board of County Commissioners of the Issuer (the "Vice-Chainnan") and the Clerk
or any designated Deputy Clerk to execute an escrow deposit agreement (the "Escrow
Deposit Agreement") and to deliver the Escrow Deposit Agreement to The Bank of New
York, Jacksonville, Florida, which is hereby appointed as Escrow Agent The Escrow
Deposit Agreement shall be in substantially the form of the Escrow Deposit Agreement
attached hereto as Exlu'bit C with such changes, amendments, modifications, omissions and
additions, including the date of such Escrow Deposit Agreement, as may be approved by said
Chairman or Vice-Chairman and the Clerk or any designated Deputy Clerk. Execution by
the 0Wrman or Vice-Chairman and the Clerk or any designated Deputy Clerk of the Escrow
Deposit Agreement shall be deemed to be conclusive evidence of approval of such changes.
SECIlON 8. TRANSFER OF CERTAIN MONEYS. The Refunded Bonds
will be refunded from proceeds of the Series 1996 Bonds and other legally available funds
of the Issuer. Moneys on deposit in the sinking fund, including the reserve account therein
established with respect to the Refunded Bonds, shall be transferred to the escrow deposit
trust fund established pursuant to the Escrow Deposit Agreement
SECIlON 9. DESIGNATION OF THE SERIES 1996 BONDS AS
QUALIFIED TAX-EXEMPT OBLIGATIONS. The Issuer hereby designates the Series
1996 Bonds as "qualified tax-exempt obligations" under Section 265(b X3) of the Code. This
designation is based upon the findings of the Issuer set forth in Section 1 (G) hereof and the
Chairman or Vice-Chairman or the Clerk is authorized to certify such finding upon the
issuance of the Series 1996 Bonds. In the event the County takes any subsequent action that
C$C\1~ the Series 1996 Bonds not to be "qualified tax-exempt obligations," the interest me
on the Series 1996 Bonds shall be adjusted so that the Purchaser's after-tax yield on the
Series 1996 Bonds is the same as when the Series 1996 Bonds were "qualified tax-exempt
obligations."
SECIlON 10. APPOINTMENT OF PAYING AGENT AND REGISTRAR.
The County is hereby designated as the Registrar and Paying Agent for the Series 1996
Boods.
4
aOOK ODD PA';~ 128
'-~'_---_._-_..~,....._...~..,.~ ""-",~~-",,,,"",,_..~>>~;".
~""'_'_-''''''''"'''-''-'~'~-''~-''''--'--'-'' _.-
I
I
I
'.j
,
I
I
.,
,
.1
FEB 2 7 1996
I
;
j
.1
I
,
\
,
I
SECI10N 11. COMPREHENSIVEANNUALFINANCIALREPORT, So
long as the Series 1996 Bonds are outstanding under the Resolution, the County shall provide
its Comprehensive Annual Financial Report to the Purchaser within 180 days of the end of
~h of the County's fiscal years or as soon as it beC<ltlles available.
,
.
SECTION 12. GENERAL AUTHORITY. The members of the Board of
County Commissioners, the County Clerk or any designated Deputy County Clerk, the
County Arlministrator and the officers, attorneys and other agents or employees of the Issuer
are hereby authorized to do all acts and things required of them by this supplemental
resolution or the Resolution or desirable or consistent with the requirements hereof or the
Resolution for the full punctual and complete perfonnance of all the tenns, covenants and
agreements contained in the Series 1996 Bonds or this supplemental resolution, and the
adoption of any supplement or amendment to the Resolution necessary or convenient to
acGOmplish any of the foregoing, and each member, employee, attorney and officer of the
Issuer or the Board of County Commissioners, the County Clerk or any designated Deputy
County Clerk and the County Administrator are hereby authorized and directed to execute
and deliver any and all papers and instruments and to be and cause to be done any and all
acts and things necessary or proper for canying out the transactions contemplated hereunder.
The Issuer hereby authorizes its Financial Advisor and Bond Counsel to do all things
necessary to acquire the Refunding Securities. The County Administrator or his duly
authorized designee is hereby authorized to enter into any agreements necessary for the
acquisition of such Refunding Securities.
'j
.1
.1
j
I
I
SECTION 13. SEVERABILl1Y AND INVALID PROVISIONS. If anyone
or more of the covenants, agreements or provisions herein contained shall be held contrary
to any CJ.yl ess provision of law or contnuy 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, agreemelts or provisions shall be null and void and shall be deemed
stparable from the rrmaining covenants, agreements or provisions and shall in no way affect
tle validity of any of the other provisions hereof or of the Series 1996 Bonds.
.1
d
.,
,
.
!
.
'j
J
SECTION 14. RESOLUTION TO CONTINUE IN FORCE. Except as herein
expressly provided, the Resolution and all the tenns and provisions thereof are and shall
ff'"lIin in full force and effect Such Resolution may be amended or supplemented by the
Issuer in accordance with the terms hereof and thereof and in such manner as it deems
.w.op.iate prior to the delivery of the Series 1996 Bonds.
I
~,~
!
\
if
':'
;,j
:~ll
"l<
;
"J
"'I.
,.',.
5
aoo( 000 P~';t 127
H'
.$,//
~. ..:
'c.....'
fr.
_,_}_. I
"'-.0;
}f'
-
, .
. ..
:: ., .
: .
~ .\ :
-;.. .
.", (..~ ..
.... ,. .
.....1'. .
'.
f''''
FEB 2 7 1996
'.. ;";;!1~'ir~'~f'~~}'
, ,i.,..:..' ...,.k~~,..,
SECTION 15. EFFECIlVE DATE. This supplemental resolution shall
become effective immediately upon its adoption.
This Resolution duly adopted this 27th day ofFebruarjr, 1996.
BOARD OF COUNTY COMMISSIONERS
COLLIER couNTY, FLORIDA
(SEAL)
............
. ~ ""
.' f "., ....
....A.1TES.T:.. '. ""
:. .... .' I~.. .. 4 ""
... . I .~
\ C' ~
. ..~. :
'~#.'"
........9.
A
By:
Board of County Commissioners
;./"1/,~ .,
IIOK 000 PAr,d28'
6.
F'
t'
f,
,
;':/':.;
..",.....
. "",'rV'/..><tf-.P'"
PRINCIPAL REPAYMENT SCHEDULE
FOR THE SERIES 1996 BONDS
Principal
~
11/1/1996
1 I/1/1997
11/1/1998
11/1/1999
11/11.2000
11/112001
11/112002
Principal
Amount
$175,000
300,000
310,000
320,000
335,000
345,000
360,000
aOOK 000 PAr,t 129
:;
, ,_.~,,<1~'~:~l:jl'~ ),~~:~
FES 2 71998~.;~i~~~g
" ~,'" ;'~'~~:"::f~',rj
~ l;~';.
~ ,.1"
,;1- .
s,..
i,
,..:
"
_:~1";, ~ ,:1 '::.,.
~'r' )I';J'
.' 1{:'. t~~:~_.
'.\ '~!.)~:~~.: ~~;;
';,::}~~' ~.
"'. I '/,/~.
. ,. . ~f;~
"*'.1: ,.
;' " ~;,'~1.-}:
~ ',:~1:t
';1~~
,.,; ,'~"', '~"'>."I&
,;.:;~~~
:::~~
J-:l~\I'~f,
"',.-;..;'
~< ",'~
~'~~~
";:,,,jJ"...
, "CIA :(': .,,~;e~
: i-,:')o..:i'i~"~f'$-..
. -:,..ft:,/f,;..'''' -."f
_.,."....."'..,.~.'"
......,.,.-,..
1';,~jt;J
!t~f<J
'1" -'~""';'
<a;,,' ..~
!, ,,:'~l.}7i:"'''~~''\
, .,:r}t> 3) "
,"..'......:~.. .
"oil; t"! "~~: '."
." ;li." ,i,ll..
'!.f ,'-"'-';: '<r:i
:.;.....t:lif"'..:'
"(!1i";\4~ '
'.. ,P~t'."f'
:;;':-:?c ~i,t,
"")i.l:,t':ilI~'
,:~. ~~:':~:~i~:~.:
,,""i~.
';:;)i,.J';,M-}': .,
.. ~~:~..:iD'; ,~~~:~ ..\
., '~'-'.fjt~~',!;
t':}'t~f'~~
II' 'r
,
c..t-,
';..;
DISCLOSURE LETIER OF THE PURCHASER
j;"I'
~A. ::;"
;/'i:,1t:,
':"",,'1
~<:i.~y' -:'5,~;' ':Pf;
J "~1.
.~.~: '(:'-~.,~,~!
..~ ',..l~
T>' ~~ ~(;:?' ','..;"~ ~
\ t-~~~/,.;
,~.,',;, ~}~:./f~<:
, :~' ~~,;~:"I/;~
~'. ,~:~,
.,' " ,. ~ ~~~~~~
.. 14'
'", ":~ " .~i~<,:~j~~;
'" '~:1l1~~
''''j.,'
:-1....~~1' \
::,l)',*,
, ,~",;fJ~:
"'~~""
, -A-'.J~'l:'(~
~::.
r: ',,:. <;;}~.:l
. ~ ':::
j,~
, ; :~iii
(;-:,.. ~_J;'-f~
;"-,,.j>,",,-~
,,~,,~:~~t
-7 ;",.>;~';
~f ~ ,~.f,~,;,'t"J"..
,; ,'~J.",,!\..t
~\L~ "\)~'~
i;t't i Jf:~'S~
"I,,~',.
,~"'~,''''
.-<i~~j
;.~~
. ;..'jIt~)
~-'ej, . f :\II'~,_,~
I
';'"
!'--.
aoor 000 PACE 130
FEB 2 7 ~
DISCLOSURE llill.t:;H, OF FIRST UNION NATIONAL BANK OF FLORIDA
.
Febmazy 26, 1996
" ;
'1
r
Board of County Commissioners
, of Collier County, Florida
.'
Commissioners:
In connection with the pwchase of the $2,145,000 aggregate principal amount Collier~)
County, Florida Guaranteed Entitlement Revenue Refunding Bonds, Series 1996" (the ~~;,
"" ,,'~",411'
"Bonds") authorized to be issued by. resolution of Collier County, Florida (the"su~"),),,'\>
,. .' , . -l! -' "'\,"'~.,
adopted on Fcbrua1y 27, 1996, as supplemented (the "Resolutionj, the und~gried~~l
purchaser oftbc Bonds (the "Original Purchaser"), hereby acknowledges and represents that c;:i~1"
(1) ~e Ori~ Pur~haser is f;lmiH~r ~th the ~suer; (2) the Original Purchaser ~~i~tfk'
furnished certam business and financial information about the Issuer; (3) the Issuer haS n:iadeiJli~'
available to the Original Purchaser the opportunity to obtain additional information to veri.fi'~~
the accmacy of the information supplied and to evaluate the merits and risks of an invcStclbt '~lii
in the Bonds, and (4) the Original Purchaser has had the opportunity to ask questions of IUid'
receive 1JlSWc:a from H~l'j\"Y'"t:!tives of the Issuer concerning the terms and conditions'Cltthe'
.Jr',' d ..... infi . Ii d the Original D.-1.___' , !'t , .~"'>
uuenng an UE ormation supp e to .("w~~. ' '... fo'i!' ,k\i-
I, . ,''''':':~',!
'. " ',t};~.
The Original Purchaser acknowleclgcs and represents that it has been advised that ih~,~\~(
Bonds have not been registered under the Securities Act of 1933, as amended, in reIianci~t~
upon the exemption contained in Section 3(aX2) thereof: and that the Issuer is not presently ik!,:;
registered under Section 12 of the Securities and Exchange Act of 1934, as amended~'The ~'1'i
Original Pw-chaser, therefore, realizes that if and when the Original Purchaser wishes'to.'~~~
resell the Bonds there may ~ be available ~ent business and financial.information~~out'lt
the Issuer. Further, no trading market now msts for the Bonds. Accordingly, the 0rigina1"''''~
Parclwer uru:Imtands that it may need to bear the risks of this investment for an iDdei~it,"'~
time, since any sate prior to the maturity of the Bonds may not be possible or maQ ~~'.i l~.' ,1
price below that whicla the Original Purchaser is paying for the Bonds.,;i+h~ ~ '
,il"',,, ,~~..
: ~~~~~
It is understood that the Original Purchaser has undertaken to verify the' 'ac" , ,
_ Cn''11eteness and truth ofany stat~pwJccon~g any of the material fac:~}~(W,i1
to Ibis transaction, including information regarding the business and financial conifhicm'&
. ~ ' "'IW'
. '00""T1 l' ' ':"'::,, ',(',i
aOOK 0 Plr,~ 3,.;:~:':~,~
-""""fl;":","
t:
,.
1 ~
. .....,
FEB 2 71996
'>i.'~jl'i
~",
'c
Board of County Commissioners
of Collier County, Florida
Febmmy 26, 1996
Page 2
. the Issuer. The Original Purchaser lw conducted its own investigation to the extent it.
deemed necessary. The Original Purchaser lw been offered an opportunity to haVe madej~,
available to it any and all such information it might reque3t from the Issuer. On this basis>'
it is agreed by acknowledgment of this letter that the Original Purchaser hereto is not relying'".
011 any party or person other than the Issuer or its representatives to undertake the furiUshin,'l,,',
or verification of information relating to this transaction.
The Original Purchaser further acknowledges and represents that (1) it is the only' ..
initial purchaser of the Bonds, (2) it lw such knowledge and experience in financial and,;;'
bnsUk-sS mmtm that it is capable of evaluating the merits and risks of the Bonds, and (3) i~;i:~;
is not purchasing the Bonds for more than one account or with a view to distributing the~t.'
Bonds. The Original Purchaser acknowledges that the representations contained in thi.S~{'~f~
paragraph are being made in order to meet one of the exceptions to the continuing discloswi <~.{
requirements set forth in Rule 15c2-12 promulgated under the Securities Exchange Act of' '
,
1934. '
; ....
.
"~"';:~ ;\
Pursuant to the provisions of Section 218.385, Florida Statutes, as amended, the'~/ ".,
Original Purchaser is providing the following information with respect to the purchase of the" " ,
Bonds. The Original Purchaser represents to you as follows:',
(a)
.
The nature and estimated amounts of expenses to be incurred by the Original:, ,', '
Purchaser in connection with the issuance and sale of the Bonds are: None."tM'~~
t. ",' ,.','"
'..,',',.,
. ,t,
There are no "finders," as defined in Section 218.386, Florida Statutes, aH~i,J,
amended, in connection with the issuance of the Bonds. ';,\ i~':
, ;;'^~~~
"l~/"
No discount or fee is expected to be realized by the Original Purchaser in'tttfi~
. 'th th . fth B ds r, ;-1';.
connectJon WI e lSSUaIlce 0 e on.: " 3~1~
No manllgement fee will be charged by the Original Purchaser in connection~ ;;;:X
, ~' ~;~'l">"'r
with the issuance of the Bonds. ," ..',..'~
' .
", ,;
, " "^':4,{')~:t
No other fee, bonus or other compensation will be paid by.the'Origitfal
Pw-chaser in connection with the issuance of the Bonds to any person'not
regularly employed or retained by the Original Purchaser (including an4 '
"finderW as defined in S~on 218~386, Florida Statutes). ,< '>f:~'
&OOK '1100 PACE 132 . ,~~
'.'.,,,.OJ; .
(b)
(c)
(d)
(e)
~'.
.....
,~...
,
''''-'1
,
..
'd....
~. *"~_110~'~'~..,.,.......",.
. .".~. ,~. -,'~_;~y.l~:~ -~.:,:o>~".:", "~} ,
.".._~.~". ,
- ....'(..Lr:,.: 1"....;J., -'if"',... : ,..,"
':;;'f>"_.j;'..;,;.r.. .. "
. "..' "'.' r i,-' A~
FES 2 7 1996 -;'''!'':ifJf~\
, ' t,.,..'~,j
'-'-" '1i<!~'~"'(\J
", '" ,i),)I'",
" -"~r4;j
.. \ '., V'::+~'.-~
Board ot'Ccnmty ~jJJiOl1tl1
. or ~ier County, Florida
Fcb:uazy 26, 1996
'ap3
"
,"'.
to"~ ','.
(1) The name and addteu of tbe O:ri&inaI Purchaser is:
First UnWaNational Bw otFlorida
77 !ut C-"lh:Jo 1tuI
Boca !Won, FIarJda 33432
-'v
.; ,
w
The Issuer h propow" to Wuc $2,145.000 otthe Bonds {or the purpose 0(,. '
re.tim4ina eenain aurstnl4in& obIiPticnu 0( the Issuer. This BondJ,are~,:j~
expected to be repaid OYer . ptziod of 6.5 YCUI. At an interest ~, or 4~ ,l9f"-~i; i
total mrenst paid CMt the expected Ji(e of the Bondi \ViJ1 be ap~~J~;:
1347.131.03. n. ~JOUr~ Q(repaymau otsecurity for:the80iu1iare~.....\
the Glzanntccd EatitIem= Rmzmej received by 111. usuer PUniiaUt ~,i'['~J!
Clapter 211, Part U. Florida Sf&tutc,~ II more paniCllJarIy desen'&ed ilith~;}'~
RaoIutiaD. ~ th.lIonds will tmIIt in approxUnateJy Sj",500~*1'f:,
of~GuannteedF.ntifltmc%ltR.mnlles ~t btina lVIiJablc to &,~~~;~:::
RMctS otzhe Issuer each year for .pprO~lm..tely 6.5 years.'f)r~/;~
., ",:"',"~~~'<, ....,.., '
V~ tluI'I "ours. ;,,'.i:..' .~~..'
-, # '''~';''''~~ '
, " ' ';".t" _~~""~
OFFLOiuDAJ;~~
"-> '\;:r.Hlh~
.:,'>t}1.t;:...t1
.:<:;,."> ,,:';
.--~i-l_~~i,(.
, """'~'~~'!~
' ..~, (.;...
. ....,.iJP,Z
;,,-.'.':' ...'It'" .'..
'I {d':~~~q"ti~
,->,> . 1t-ti1
,~
~
l1ill
BOOIC 000 PAr,d33