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1971-04-06 Regular~ 'Nx'~AT ~T~: ~' t*:~',~ "~ ~."~!'" C ..... n-'n+~*~ 78.00 o ~++,~,~ ~?c~ Sr'?~~' ~ ~ .... ,o rlmra~- ~' ~ach~.' .... ~ .... 17.37 A~' baway ~u~b~r Cor~a~y 10,)'9 n aden nan C~-Tnr;, 2~.~0 m"y~ .... ~ ...... ~' ~ "'~ ¢'" 20.00 ~"O~ M~"q C~ ~.~N n-'l.~ .... ~' n~!~'m+,b~ T~a, 7] S~ a~rla~4 O~ ~ n~q-n.~:I 2.n~ n','eechob,-¢ Cm,nt, y Ba~k ~26.00 A"dq .... f),,pham ~O.OO e-ar4 o~ A4j,:~+~,m+,~ ~- Appnal.~ !2~.00 TT'~ifOPm Al ] o~anc~ !<O "'"-ts! ?, ~,~. !4Am!?' ~n S~i.'~' OPERATION ~; IiA~NTENANCE T~d~q4'-~.~q S'm/~lv Cn~+~ n~ 1,970.]0 o~cBoB~ ....... H~,~''''. .~ ~Ln.~ C~r~any qq,~7 " B~m~i ~ ' s A':.~ o :~p?_y~ T~ · 7,2. q9 PaT'rO+ ~, Tun 4,06 Af, t.~way r.,mb~r Co~D~R,~ !,6~ 's Standard 9.98 P~r~< S+.atd~ers~ Inc. ~ +.y ~mo~v Co, any ~8.75 ~.~r:'~: E]~c+r~~ Co~pany ~].is a~d Word ~g. Co.~ Inc. ace ,t- '~qz" a~ Oi~ sio~ 87.60 nke~chnbee gg Ser~_c~ ~r~.~p P~.?b~ n2 Ipn, 6,10 :~"~z'~ ! ~1 C~any~ Inc. 2.95 Okeechob~-e Co~.~,,ty Bamk 629.00 Pe+.+ y q~ 82.00 AP.'~:'e4 Watt, crs--n 100.00 ..... ~ n,~ ....c~ 'b~' - q~n~,~ ~,~ 5~ ,k.~ 46 T *-I F I 1' .... ........' ~ q~SO!Jlm~O~l CnNVASS~]fi ~tE R~STrL, m8 fl~ ROi'q) ~?'~;'AS~ .~]o F]~Rr~4 ~ "'P +H~', ~¢~'~,~ .... ~ ~l'::~"~,"~m~_ .... ~o .~r, ',~bP ~nn qq~ Boa'-!~ -:-~-F.~,~t at, :, rat? o~ rs+~,~ ~',.~R'P 'lAS~ n,~ H n~ ~4 ~,?-~ n~-,-~H 4~,4 ~.~,q 4~ 4 ~-~ 4a~r~ ' +,~ "&id ~ qcf, ionsj and 4r~ ~%e C4 ~--~, ~.7~['~OV +%,,. :~.~nn~o,>.,,.o ,D~ ,m~cl'] bn~ds~ a~d.. d~iv~.r~d ~nd canvaas~d~ ama L~a+. ~h~ r~t':~r~,s ~ said ~ct, io~ !~av~ b~ ct, ors who ar~ f, ..... ~4ers a~ r~qv~red by law~ .~4 a m~jority of th~ votes a!] ?,n]Cfie4 non-freeholaer ~l~c+n-~s ~ar+~.ci~a+.~n~ in such :~BY Ci:n~TFPT!~ by t.b~ ~,mei! o9 +,h~ C~LZ oe Okeechobe% Florida~ ~.~an thirty (~0/ years ['rom the aat~ aP zssua v~4 ~.',o !s~u~ -,~ br,~,r:,~ m.lbmi.te,~d et, S~lCb ~]ect. ions ~$ described said Council. A~r!l , 1971. Donald Burk President of !he City Council, ATT~'ST: La 'ena C~ t~r Ap2rov,~d Anri,q 6~ !971 Audi ev ~mha~ ~ .... ~ . ~'~c~ ~., the ag~egat, e $480~00.00 P~ ~,~ ~-o~o eP ::'~.m4'~ ng e~az.n out, s+a~din~ bonds~ an~ eont~i~n~ ether ~nro~-sions relating "~ ~ueb b~ds. Cau~cilma~ Domer ~ova4 to adopt, Resoqmt:~on as read and z~pnn being seconded Cn~.mc'~l~am Br~Pnr, d wan 2u' t,o a vote a~4. ~manimn~]s?y adnp+od: 2 v S 0 T" m I 0 N !TO. 3~1.3 A RESOLUTION PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE CITY OF OKEECHOBEE, FLORIDA, NOT TO EXCEED IN THE AGGREGATE $480,500 FOR THE PURPOSE OF REFUNDING CERTAIN OUTSTANDING BONDS; : --'- AND CONTAINING OTHER PROVISIONS RELATING TO SUCH BONDS. BE IT RESOLVED BY THE COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA: SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of Chapter 132, Florida Statutes, and other applicable provisions of law. SECTION 2. FINDINGS. It is hereby found, determined and declared as follows, that: A. It is necessary, desirable, and in the best interest of the City of 0keechobee, Florida (hereinafter called "City"), and its inhabitants that general obligation bonds in an amount not exceeding $480,500.00 be issued for the purpose of refunding certain Refunding Bonds, Issue of 1942, Series A and Series B, of the City now outstanding in the principal amount of $480,500.00 (hereinafter called "Outstanding Bonds") which by their terms are redeemable on any Ju~y 1 or January 1 at the price of par plus accrued interest. B. The issuance of such general obligation bonds was approved by a majority of votes cast in a bond election held March 23, 1971, by the qualified freeholder electors of the City and the qualified electors who are not freeholders in the manner required by the Constitution and --~ Statutes of the State of Florida. SECTION 3. RESOLUTIC~ TO CONSTITUTE CONTRACT. In consideration of the acceptance of the Bonds authorized to be issued hereunder by those who shall hold the same from time to time, this Resolution shall be deemed to be and shall constitute a contract between the City and such holders. The covenants and agreements herein set forth to be performed by the City shall be for the equal benefit, protection and security of the legal holders of any and all of such Bonds and the coupons attached thereto, all of which shall be of equal rank and without preference, priority or distinction of any of the Bonds or coupons over any other thereof, except as expressly provided therein and herein. SECTION 4. AUTHORIZATION OF BONDS. Subject and pursuant to the provisions of this Resolution, bonds of the City to be known as "General Obligation Refunding Bonds", herein sometimes referred to as "Bonds", are hereby authorized to be issued in the aggregate principal amount of not exceeding Four Hundred Eighty Thousand Five Hundred Dollars ($480,500.00) for the purpose of refunding said outstanding Refunding Bonds, Issue of 1942, Series A and Series B. SECTION 5. DESCRIPTION OF BONDS. The Bonds shall be dated January 1, 1971; shall be numbered consecutively from one upward in the order of their maturities; shall be in the denomination of $5,000 each except for Bond number I for $500, shall bear interest at not exceeding the maximum legal rate, such interest to be payable semi-annually on January 1 and July 1 of each year, and shall mature serially in numerical order, lowest numbers first, on the first day of July in the years and amounts as follows: ~ AMOUNT YEAR AMOUNT YEAR AMOUNT 1972 $ 500 1 980 $1 5,000 1 989 $Z5,000 1973 1 0,000 1 981 1 5,000 1990 25,000 1974 1 0,000 1982 1 5,000 1991 25,000 1975 1 0,000 1 983 1 5,000 1992 30,000 1976 1 0,000 1 984 20,000 1993 30,000 1977 1 0,000 1985 20,000 1994 30,000 1978 1 5,000 1 986 20,000 1 995 35,000 1979 1 5,000 1 987 20,000 1996 35,000 1 988 25,000 Such Bonds shall be i~s~d in coupon form; shall be payable with respect to both principal and interest in lawful money of the United States of America, at such bank or banks to be subsequently determined by the City prior to the del~very of the Bonds; and shall bear interest from their date, payable in accordance with and upon surrender of the appurtenant interest coupons as they severally mature. SECTION 6. EXECUTION OF BONDS AND COUPONS. The Bonds shall be executed in the name of the City by the Mayor and countersigned and attested by the City Clerk, and its corporate seal or a facsimile thereof shall be affixed there- to or reproduced thereon. The facsimile signatures of the Mayor or the City Clerk may be imprinted or reproduced on the Bonds, provided that at least one _ signature required to be placed thereon shall be manually subscribed. In case any one or more of the officers who shall have signed or sealed any of the Bonds shall cease to be such officer of the City before the Bonds so signed and sealed shall have been actually sold and delivered, such Bonds may nevertheless be sold and delivered, as herein provided, and may be issued as if the person who signed or sealed such Bonds had not ceased to hold such office. Any Bond may be signed and sealed on behalf of the City by such person who at the actual time of the execution ef such Bond shall hold the proper office in the City, although at the date of such Bonds such person may not have been so authorized. The coupons attached to the Bonds shall be authenticated with the facsimile signatures of any present or future Mayor and City Clerk of said City, and the validation certi~icate on said Bonds shall be executed ~ith the facsimile signa- ture of the Mayor. The City may adopt and use for such purposes the facsimile signature of any person who shall have been such Mayor and City Clerk at any time on or after the date of the Bonds, notwithstanding that he may have ceased to be such officer at the time such Bonds shall be actually sold and delivered. SECTION ?. NEGOTIABILITY AND REGISTRATION. The Bonds issued hereunder shall be and shall have all of the qualities and incidents of negotiable instruments under the law merchant and the Laws of the State of Florida, and each successive holder, in accepting any of said Bonds or the coupons appertaining thereto, shall be conclusively deemed to have agreed that such Bonds shall be and have all of the qualities and incidents of negotiable instruments under the law merchant and the Laws of the State of Florida. The Bonds may be registered at the option of the holder as to principal only at the office of the City Clerk, as Registrar, such registration to be noted on the back of the Bonds in the space provided therefor. After such registration as to principal only, no transfer of the Bonds shall be valid unless made at such office by the wr~tten assignm~ent of the registered owner, or by his duly authorized attorney in a form satisfactory to the Registrar, and similarly noted on the Bonds, but the Bonds may be discharged from registration by being in like manner trans- ferred to bearer and thereupon transferability by delivery shall be restored. At the option of the holder, the Bonds may thereafter again from time to time be registered or transferred to bearer as before. Such registration as to princi- pal only shall not affect the negotiability of the coupons which shall continue to pass by delivery. SECTION 8. BONDS MUTILATED, DESTROYED, STOLEN OR LOST. In case any Bond shall become mutilated, or be destroyed, stolen or lost, the City may in its discretion issue and deliver a new Bond with all unmatured coupons attached of like tenor as the Bond and attached coupons, if any, so ~utilated, destroyed, stolen or lost, in exchange and substitution for such ~utilated Bonds, upon surrender and cancellation of such mutilated Bond and attached coupons, if any, or in lieu of and substitution for the ~ond and attached coupons, if any, destroyed, stolen or lost, and upon the holder furnishing the City proof of his ownership thereof and satisfactory indemnity and complying with such other reasonable regulations and conditions as the City may prescribe and paying ~ such expenses as the Gity may incur. All Bonds and coupons so surrendered shall be cancelled by the City Clerk of the City. If any such Bonds or coupons shall have matured or be about to mature, instead of issuing a substitute Bond or coupon, the City may pay the same, upon being indemnified as aforesaid, and if such Bond or coupon be lost, stolen or destroyed without surrender thereof. An~ such duplicate Bonds and coupons issued pursuant to this section shall constitute original, additional contractual obligation~ on the part of the City whether or~ the lost, stolen or destroyed Bonds or coupons be at any time found by anyone, and such duplicate Bonds and coupons shall be entitled to equal and proportionate benefits and rights as to lien on and souree and security i'or pa2u.~ent from the funds, as hereinafter pledged, to the same extent as all other obligations and coupons issued hereunder. SECTION 9. REDEMPTION PROVISIONS. Bonds maturing in the years 1972 to 1981, both inclusive, shall not be redeemable prior to their stated dates of maturity. Bonds maturing in the years 1 982 through 1996, both inclusive, shall be redeemable at the option of the City, on July 1, 1981, or on any interest payment date thereafter, at the price of par and accrued interest to the date of redemption, plus the following: Three per centum (3%) per annum if redeemed on July 1, 1981, to and including January 1, 1986; Two per centum (2%) per annum if redeemed on July 1, 1 986, to and including January 1, 1 991 ~ One per centum (1%) per annum if redeemed on July 1, 1 991, br thereafter prior to maturity. Notice of Bonds to be redeemed shall be given not less than thirty days prior to the redemption date by registered or certified mail to banks or trust companies serving as paying agents and by publiekti ~en at least once not less than thirty days ~p~iod to such redemption date in a financial newspaper or journal of general circulation published in the City of New York~ New York. SECTION 10. FORM OF BONDS AND COUPONS. The text of the Bonds, the interest coupons to be attached thereto, and the validation certificate to be endorsed thereon shall be in substantially the following form and tenor, with such variations, omissions and insertions as may be necessary, desirable and authorized or permitted by this Resolution or any subsequent Resolution adopted prior to the issuance thereof: NO. $ UNITED STATES OF AMERICA STATE OF FLORIDA COUNTY OF OKEECHOBEE CITY OF OKEECHOBEE GENERAL OBLIGATION REFUNDING BOND KNOW ALL MEN BY THESE PRESENTS, that the City of Okeechobee in 0keechobee County, Florida (hereinafter referred to as "City"), for value received, here~y promises to pay to the bearer hereof, or if this Bond be registered, to the registered holder as herein provided, on the first day of 1 9m, the principal sum of DOLLARS with interest thereon at the rate of per centum ( %) per annum, payable semi-annually on I and I of each year, upon presentation and surrender of the annexed interest coupons as they severally become due. Both principal of and interest on this Bond are payable in lawful money of the United States of America at the , or, at the option of the holder, at the For bhe prompt payment of the principal of and interest on this Bond as the same shall become due, the full faith, credit and taxing power of said City are hereby irrevocably pledEed. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $h80,500.00 of like date, tenor and effect, except as to number, denomination, interest rate (if all bonds do not bear the same rate), and date of maturity issued to refund or refinance ~ertain outstanding Refunding Bonds, Issue of 19~2, Series A and Series B of the City under the authority of and in full compliance with Chapter 132, Florida Statutes and pursuant to Resolution No. 3~3 of the City adopted on the 6th day of April, 1 971 (hereinafter called "Resolution"). This Bond is subject to all the terms and conditions of said Resolution. It is hereby oertified and recited that all acts, conditions and things required to happen, to exist, and to be performed, precedent to and in the issuance of this Bond, have happened, exist, and have been performed in due time, form and manner as required by the Constitution and Laws of the State of Flodida apolicable thereto; that the issue of Bonds of which this Bond is a part has been approved at an election held in accordance, with the Constitution and Statutes of the State o£ ~lo~Ida on bhe 23rd day of March, 1 971 ) that the total indebted- ness of said City, including the LssuSf Bonds of which this Bond is one, does not exceed any constitutional or statutory limitation; and that provision has been made for the levy and collection of a direct annual tax, without limitation as to rate or amount, upon all taxable property within said City sufficient to pay the principal of and interest on this Bond as the same shall become due, which tax shall be levied and collected at the same time and in the same manner as other ad valorem taxes are assessed, levied and collected~ Bonds maturing in the years 1972 to 1981, both inclusive, shall not be redeemable prior to their stated dates of maturity. Bonds maturing in the years 1982 to 1996, both inclusive, shall be redeemable at the option of the City, on July 1, 1981, or on any interest payment date thereafter, at the price of par and accrued interest to the date of redemption, plus the following: Three per centum (3%) per annum if redeemed on ~3uly 1, 1981, to and including January 1, 1986; Two per eentum (2%) per annum if redeemed on July 1, 1986, to and including January 1, 1991; One per centum (1%) per annum if redeemed on July 1, 1 991, or thereafter prior to maturity. Notice of Bonds to be redeemed shall be given not less than thirty days prior to the redemption date by registered or certified mail to banks or trust companies serving as paying agents and by pmblication at least once not less than thirty days prior to such redemption date in a financial newspaper or journal of general circulation published in the City of New York, New York. This Bond may be registered as to principal only in accordance with the provisions endorsed hereon. IN WITNESS ~EREOF, the City of Okeechobee, Florida, has issued this Bond and has caused the same to be signed by the manual or facsimile signature of its Mayor, the corporate seal of said City, or a facsimile thereof to be affixed, impressed, imprinted, lithographed or reproduced hereon and attested and countersigned by the manual or facsimile signature of its City Clerk, and has caused the interest coupons hereto attached to be executed with the facsimile signature of such Mayor and City Clerk, all as of the 1st day of January, 1971. CITY OF OKEECHOBEE, FLORIDA (SE~) ATTESTED AND COUNTERSIGNED CITY CL~K FORM OF COUPON NO. $ 1300 Unless the Bond to which this coupon is attached has been duly called for prior redemption and provision duly made for the payment thereof, on the --~ day of ,, 19 , the City of Okeechobee, Florida will pay to the bearer at the , or, at the option of the holder, at the , the amount shown hereon, in lawful money of the United States of America, upon presentation and surrender of this coupon, being six months' interest then due on its General Obligation Refunding Bond, dated 1, 1971, No. . CITY OF OKEECHOBEE, FLORIDA ( SEAL ) BY MAYOR ATTESTED AND COUNTERSIGNED CITY CLERK VALIDATION CERTIFICATE This Bond is one of a series of Bonds which were validated and confirmed by judgment of the Circuit Court for Okeechobee County, Florida rendered on the day of , 19 . MAYOR PROVISION FOR REGISTRATION This bond may be registered as to principal only in the name of the holder on the books to be kept by the City Clerk as Registrar, or such other Registrar as may be hereafter duly appointed, as to principal only, such registration being noted hereon by such Registrar in the registration blank below, after which no transfer shall be valid unless made by written assignment on said books by the registered holder or attorney duly authorized and similarly noted in the registration blank below, but it may be discharged from registration by being transferred to bearer, after which it shall be transferable by delivery, but it may be again registered as before. Such registration shall not restrain the negotiability of the coupons by delivery. DATE OF IN WHOSE NAME SIGNATURE OF REGISTRATION REGISTERED REGISTRAR T ! 1 DATE OF REGISTRATION IN WHOSE NAME SIGNATURE OF REGISTERED REGISTRAR . : : : : . SECTION 11, PLEDGE OF FULL FAITH, CREDIT AND TAXING POWER. For the prompt payment of the principal of and interest on the Bonds, the full faith, credit and taxing power of the City are irrevocable pledged. SECTION 1 2, LEVY OF AD VALOREM TAX. There is hereby created a Sinking Fund to be held and administered by the City solely for the purpose of paying the principal of and interest on the Bonds as they become due. In each year while any of such Bonds are outstanding there shall be levied and collected a tax, without limitation as to rate or amount, on all taxable property within the City, sufficient in amount to pay bhe principal of and interest on such Bonds as the same shall become due. Such tax shall be assessed, levied and collected in the same manner and at the same time as other City taxes are assessed, levied and collected. · SECTION 1 3. APPLICATION OF BOND PROCEEDS. The proceeds received upon the sale of said Bonds, except accrued interest, if any, which shall be deposited in the Sinking Fund, shall be used, together with other available funds of the City, solely and alone to pay the entire principal of and interest on the outstanding Refunding Bonds, Issue of 19h2~ Series A and Series B on the first redemption date thereof at or after the delivery of the Bonds authorized by this Resolution. In the event the first redemption date of said Outstanding Bonds shall occur on a date subsequent to the date of delivery of the Bonds herein authorized then the proceeds of these Bonds shall, together with other available moneys of the City, be deposited in trust with the paying agent for the Outstanding Bonds for the sole and only purpose of paying the principal of and interest on said Outstanding Bonds on the next succeeding redemption date thereof. Pending their use, such proceeds may be invested, at the direction of the City, in direct obligations of the United States of America, or in time deposits, evidenced by bank certificates of deposit, fully secured by direct obligations of the United States of America, maturing not later than the next redemption date of such Outstanding Bonds. Any income received upon such investment shall be returned to the City to be deposited in the Sinking Fund created by this Resolution. SECTION 12. MODIFICATION OR AMENDMENT. No m~terial modification 130 or amendment of this Resolution or of any Resolution amendatory hereof or supplemental hereto, may be made without the consent in writing of the holders of sixty-seven per centum (67%) or more in principal amount of the Bonds then outstanding, provided, however, that no modification or amendment shall permit a change in the maturity of such Bonds or a reduction in the rate of interest thereon, or in the amount of the principal obligation or affecting the unconditional pro~se of the City to pay the principal of and interest on the Bonds as the same shall become due, or reduce such percentage of holders of such Bonds, required above, for such modifications or amendments, without the consent of the holders of all of such bonds. SECTION 15. SEVERABILITY OF INVALID PROVISION. If any one or more of the covenants, agreements or provisions of this Resolution should 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 shall be deemed separate from the re- maiming covenants, agreements or provisions, and in no way affect the validity of all the other provisions of this Resolution or of the Bonds or coupons issued thereunder. SECTION 1 6. VALIDATION OF BONDS. The City Attorney, is hereby authorized and directed to institute appropriate proceedings for the validation of said Bonds, and the proper officers of the City are hereby authorized to verify on behalf of the City any pleadings in such proceedings. SECTION 1 7. REPEAL OF PRIOR RESOLUTIONS. ALL Resolutions or parts of Resolution in conflict herewith are hereby repealed. SECTION 1 8. 'Ibis Resolution shall take effect in the manner provided by law. PASSFD and ADOPTED in Regular Session of the City Council of the City of Okeechobee, Florida, this __day of April, 1 971. ATTEST: CITY CLERK Approved April , 1 971 (sr_,AL) 'Y '~AS~ Lin,rs ~e ~mr~ ~a ]969~ Cb~nt,~r ~9-~, heinz ~..orid~ Stat,v.*,es !67.)t33 - ...... n.~ ........ an~ o - .... !~ws ~f th~ ~,at,~ of ~.mr4da ]~ca+.~4 ,.~+b~r. . +b~ ~riei~a2, bm,~da~r~4o-..~ of +.h~ .... ('3tv~ oe o~ceochob~% ...... a+, its 4~'~t. vaP2z~ ~nd s~ob~it~,ed ~aid assessed I%~'J~C!PAL VM UAT/ON ~. q~... ~+: W~,~n~'~d Lands 2];R~O. -.~ o'7~ -'~'~T~Ar.,, ~ . 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