Resolution 1989-158
. . 1. . . I 1. ~ -,
, "
. . I .
. .
'. I
. .
JULY 6, 1989
RESOLUTION NO. 89-158
RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA
RELATING TO THE COUNTY'S CAPITAL IMPROVEMENT
PR0GRAM REVENUE BONDS, SERIES 1986, BI-MODAL
MULTI-TERM FORMA';' (BMTF)
nCREAS, Collier County, Florida (the "County") has heretofore
issued $76,600,000 Capital Improvement Program Revenue Bonds,
Serie~ 1986, Multi-Term Bi-Modal Format (BMTF) (the "Bonda")
pursu.\nt to an Indenture of Trust, dated August 14, 1986, between
the CC'.lnty and Sun Bank, National Association (the "Trustee"), as
amended (the "Indenture");
WHEREAS, the County ~ill have $27,755,000 aggregate principal
amount of Banda outstanding as ot August 2, 1989 in Weekly Rate
Mode 1 (as defined in the Ir.denture) subsequent to conversion and
remarketing of the County's Capital Improvement Program Revenue
Bonds, series 1986, S<lb-Series Five, Bi-Modal Multi-Term Format
(BHTF) , Mode A Bonds; and
WHEREAS, the County shall have no Capital Projects (as defined
in the Indenture) which it desires to finance from such Weekly Rate
Hode 1 Bonds subsequent to August 2, 1989 and the County further
desires to redeem such Bonds on August 2, 1989 as provided in
.section :3.01 (c) (iii) of the Indenture;
NOW, THEREFORE, BB IT RESOLVED BY THE :BOARD OP COUNTY
COKKISSIONERS OP COLLIER COUNTY, ~LORIDA, AS POLLOWSt
St.:CTION 1. The COUj,ty hereby determines not to complete
the Capital Projects provide..' in the Indenture other than those
....hich shall be financed by use of the Bonds on or prior to
},.ugust 2, 1989. The County further determines not to substitute
afiY other Capital Project for the Capital Projects described in the
preceding sentence. The Trustee ls hereby directed to redeem on
August 2, 1989 all Weekly Rate Mode 1 Bonds which are outstanding
subsequent to conver~ion and remarketing of the County's Capital
Improvement Program RevenUA Bonds, Series 1986, Sub-Series Five,
Bi-Modal Multi-Term Format (BMTF), Mode A Bonds. Such redemption
shall be in accordanco with Sections 3.01(c) (iii) and 3.05 of the
Indenture.
O()...-o~ C) tJ- ,,'T. /
U005G
JULY 6, 1989
SECTION 2.
This resolution shall take effect immediately.
BOARD O~ COUNTY COMMISSIONERS
COLLIER CO PLORIDA
(SEAL)
DATED, July 6, 1989
ATTEST:.-
,",JAHES/-C-. -GILES
" .. ~~...:;... '~..\??~,-f'-A/ d2 c-.
;: cler.k" u ,r
~ . .
APPROVED AS TO FORM AND
, LEGAL SUFFICIENCY:
" '
B. Cuyler
2
.i9~d.o.l1. ~
0005?
I . :.. 'I .
~ 'I' . .' I' . ' '.
, ., .
, , .
t' ;, \
I' '
~ ._ " I \
, \' I