2002 - 04-15-02 Regular Meeting - Laserfiche WebLink

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6GG;,8 racF 83,E I Commiss Matthews presented the following resolution and moved that it be adopted: WHEREAS, the bond order hereinafter. described has taken effect and the Board of Commissioners of the .County of Lee, sitting as the governing body of Lee County Water and Sewer District No. 1 (the "Issuer"), desires to borrow money for the purpose for which bonds are authorized to be issued by said bond order in anticipation of the receipt of the proceeds of the sale of said bonds as hereinafter provided; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of Lee, sitting as the governing body of the Issuer, as follows: (1) The sum of $4,166,000 will be borrowed by the. Issuer in anticipation of the receipt of the proceeds of the sale of bonds authorized to be issued by the water bond order, adopted by the Board of Commissioners of the County of Lee, sitting as the governing body of the Issuer, on September 25, 1995, for the purpose for which said bonds are authorized to be issued. Negotiable notes, each designated "Water Bond Anticipation Note,° shall be issued for said sum so borrowed. (2) Said notes shall be dated May 21, 2002; shall mature, without option_ of prior payment, on December 18, 2002; and shall bear interest from their date at a. rate which shall not exceed six per centum (6 %) per annum. Such interest shall be payable at the maturity of the notes on the basis of a 360 -day year consisting of twelve 30 -day months. Each of the notes shall be signed by the Chairman of the governing body of the Issuer and the Clerk of the Issuer, the seal of the Issuer shall be affixed to each of said notes and the Finance Officer of the Issuer shall authenticate the notes. Both the principal of and the