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Resolution 126 a~~A2 ~.7~V~^~V~ 1~~~ A REaOb,IJTIt?N H~ ~tHE T~D1~N flF. ~ONGt+iflafl, 1?°](.ORIDA•,. ACJ~HO~~[~xi~(3 '~Hl: HURI~t3t7IPdG aI" ~DiITEY T+UR ~`HE :tIf~LA7~~l~pi~ ~(~R THE' 1~'RTIR • BYST~r4 :~N SA,IT1 .'.Y'4}WN, .Aldp PIt0yI1)Z~3G FflR THE ISSNTAP3t°E t~I~f) EXI~CUT'IE~IV C)F Id(3~'1JS 7.'CY . S'~Ctl~t&. ~S~Ti~ H(3RR+;?tAJEiD ~OI3FX, t~iV~, A.tT`~HC~it,- IZII~G TMl~ PLE1?Gr (9~+ TH:I•~ UT`lL:%T~~ ~r1X ' .RFVEl~UE 0~ ~'TdE `.Ct7~7N I+'Q.R ~',HIa ~'AYI~IEN'~ . iJ~' .SIB .idO~ES. . - H'G 7cT I~EBflLVIE]? Hy `rY•dE M.~'Y4Jfi 4HU `~Uj~1V CC.iJNCIL (},f+ '~I~E . ~~JHI~~~EA~, 4;he `P'®~fTn og' ~on~;t~'oOd, Elor3.da, now operates and m~tint~+f.riis a ~ra,ter system in said toxin, aa~d Lu'kIErt.CA.~'i, the constrtAC~iOt?~ o€ addi.ta.osls~ extensions and improvernerats to said w~.ter system is imperative in ®rd.ea to preserve the p~ai~lic health and safety of the citizens of the '~ot~ta of Longt~ood, ~,~.o~••ida and. ~Jt~'l~lt~~~, the ~o~rn of Longi~~ood; F].orida_, did, ptarstnant to Cl~aptc;r ;~.~829, Special Acts of the T,egislature of klox•~.d;~ I. t f'or the ye;~.~r 3-9~r5 anal other applie~a,ble provisions o~f 3.a~r9 enact an ©~ri3~.aaanee 1.evyn.g a tax: a+n each and every paa~•ehas:e of e~.cctricit;!~, metered or bottled ga:s, hater service, teleprio~.e service a.nd~ telegraph serv:~.ce z~a.tf?in the corporazte limits of . the town., i!iz tt3~ s.mount: of ten ~.~ercent (lU~~ of the payments received by the se~.~er of stt.c~z u!ta.lities service ~r~~na the .pur- cl~aser for the ptxrc~ra.se of suet: ul:ilit.es service, and a.t is deemed necessa.z•y anel; c~esira,blc t:o pled~c s~ac1P ut~.~.aties service taxes to the payment o€ the ~~rir,~cl~~s.1 of, ~,ncl interest on the nfltes issued purstiai~t to this rest9ltatior~, in order to assa.st in the financing of the i~aprovet!i©atts ans~ extensions of thou iro.ter wortcs system pra~vided for in Ih:i:s resol.uta.e~?a a and [~I~IEIt~AS, than: pri~?capo.l c?f;, and interest on the rotes to br issued purst~tint to this resal~.u~~ic?n ~r~.11 he paid solely ,from t7ic revesitnes derived from fik~e ~ot+;r2 of Long~;ood from its util- ities tax,, a.nd it wn13. never necessary or a.uthorizird to levy - taxes on any real: property in s~ci~i ~t:otvn to ,pay the p~•ia~ci,pal of, and interest on the said n.~~.t~s :issued paarsLtant to this resolute ~ ~:io~z, and said emotes s2~ai3. not copas~tit~~~e .a lien a~pon tizzy o?C the properties of saidl z~~ter t~orig„ azr upon. an~r other property ~I t~rh.atsoever of the Town of Lon~E,raoci:. , , iaOt>l~ rCI~II~n~,i+'t3R~, in cozasf.dera:tion of tl3e aee,.pto,xace Gf I • t~~e notes au~tlic;riaed •~o be `issza~d herenz3uter, this reso].aotiora. 1' .~iza~.1 be deezze~. to be and s41e;1~. ' eanstitute ~ ~contraet betwee . n ~ tl2e Town of ;£,aingwoud, ~iorida, and sucl2 tizote: helders. I`IC}619 T;~IETt~Frb1I$I, I3E TT R~:,~f1lL'41';CI3 TI1;C AIA,~'Odd` EINI? TOtdN ~ 4 CQU~1C$Z 01+ ~Ir11a TOt~i'~ OF ~€~~3i~I~l3CDh,. ~'I~Ci1:T~~; ~ ~ ~ . ~ ~.o TSa~t s~tbjet:t and ' pz:l~~su~;~;i; to tlzc ,px'ovasi©rzs of 'iit~.;s resn3uta.o:n,, ttze notes of 'the 'S'ot~in of ~•on~tread, ~''l.or~.dz~,, I to bs ;ta3o~v~t as ti~'~:c~cer bytor}`~s iVotes, ar~~ he~°ei~y authorised ~ to ~ be ~ sstBed axzcl ~~xee>.zted izi tl3e ~~;gre ate ~ g principal a~znotxnt of • aa,ot eaceea.rz~ ~~15, QtJ4.00. ~a~d notes q)rzal3. be date~ei A~p;ri~. 1, :l'~54, s:~a3.1. Abe ' ' i 1.I3 the tl~enomizta;toa3 of ~39~i3f9.OC39° sla.l.l bear iz3t~rest at not ' ~ e~:c~;edin~ fozax~ der cunt ~Q%~ pa:r a~zzza~~n9 p~Yabl~ semi-~.na3a~al~,y ~t~- oz3 October i and April of each year;, and sha].1 .mature ih tlz~; years aazd a:irio~za3~:s as :~~o3.io~rso $3„ppt1o00 on .~pri~~ :x.955„ $~,000P,pO on April I95G, ~3,pOU,®~Q ozz ~Apr~iZ, $s .1957, ~Jy0t90e0Q Ot3 AlD7rg1 ~3,0(90.Ql~ on April l., 329599 said notes sha]:], be' z^edeemab3e at ~;1ze mptzon t;lae town on any interest pa;~'znerz~ date. at pa.r a~zd ~+:crued rote est,. , . ~ 3 a The said notes sli~ll . be ~cxec~rtee~; in the z~za,azze , of ~ ' • the '~•ewrz by, its 23~yor ~,z~zci its corpssri~t,e, • siitiz~.9. b~ ±,affixeci the~rc~ca .and utte:st~:d by, its ~ C3er~,e 4.. .T'l3e . test .~of .t;he notes sPzGE3t. be 4~', sub~ta~itally. th~~. f o ~.3. ox~ii3 g , t e~zo r o ~ ~ ~ ~ ~ , KAI~3ttT AI,1L .~~IJI~ >Qy T;[~LSJC I'R~5IEIVTS 'S'hat tl~e . T;otJ~3 .of ~on~.e • , ~~eood, ~'l+~rida, in .Seznzne3e ° Co:xaz~<<y, )•loa~id~,; ~:f~sr ' , valae riyi~eA~e:~, hereby p~ronz~ses, to I~aY, to ; the ordr~r ' of F~O~S:l:~)A, ~TA~'~ 23AAaK O.S= S~NS+0~ll9 on the. 1st day of t#pril, ~ =.955, ,from the revE~iaes herein~.~~er . z~entzc~n~c~~s the prirzc,i:pal ~ suzn of ~ Three T'~oaasaz3iS (~3, t300.0(?~ 33o3.la,rs9 t~~.t}~ izitE;re:s,t ~ne~re~n at ttie .rate az _ payable , sien:i-aganUr~I~:y ok~ 1;I~c :Ls~; ci~,y of Octob~r~~,rzdnuzn, , ti3e ~s~ ,d;ay of 11.Aa~i~ of ea.ci'i axed ~ ~n.te-rest pare paya.b~.e a'~; ~ ~°:Lo;r~:cta S'tatF~p;~,aat~c~of~, i - Sanfa~rd., in la~tc~rfuR r?o~aey ~sf the iTriateci Stateso, ,This ~aote :i;s . o<~ae of a.~a. au~thnr:~~ed is•suo~ of. notes i.rt tt~~e ~.~;~r.e~~,te pr:~:nc:~pa:l amau:nt of $I~,,i3E?Oo.€?fi,, ~f ~..i:ke~ date,; tenor s:nci e:ffec,t, ~~~r.e:pt a to num- ber and date of r~aturi~y, issued. to :fish.e.~ace t.~e cost: af' the: cons,truc,tidn, ~addit3oti$ ~;xten~sion .and ' iffipra~vetnent of the tra Ver '~ivori:s sys Ucn~ of s~~ad Tot•».m Thi..~ ~no~te irs payable sole:Ly from and secured. ~by - l,ie~~ upox•~ axSd' pledge of ~:lhe zz.et p<oceeds of uti:l-- . iti.etsi~ service taxes xece~i~ved Tay .the Totrn, This • note does. not constiti~t;c ;~:n if~debtedness of the To6~m., o~f Lon~irocd wi.thicx t;~ae ru~anir.~ .of any coin.. s~itu~taonal,, staLUtok°y or cEixrtcr prevision or . ~ limat:atior., a~ad it as ekp~r•ess3.y agreLd by the ~ ~ . ?a:olders of tl~tis .note that s~~ch: holde~~s shall t~ev~:r. kea.ve ,the, ri~;h~. 'to .a~ec~uire or cor~ipel the ~exdreise• cf th~.e zd vaZurem. t~.x;ixa.~ ;sower ssf swirl Town or the ' taxa.t~ion of real est~te~ i~;z said Torn for the, pay-- naen.t of Lhe s,mzrc3.l,s,~. ~.f +~,nra ,ixatc:r~st on tl~:iu ~aote, . ~ It is. fi~rtlier ~~,~reed 8~~~:~~~ver~ the '~c~~na og Lo~agl~ood s.f~d . t.ite holders mf ch:i~ to+ato tla:at this ~1ote s.nd tlae o!blig~.ton ev~_dence;cl 'thereby., shall not con- stiLui!>e .a lace upon tl~e ':f~3wrz4s water wor3rs cr arFy par1~ thereof, or on ar~3r o•thcr propcrty• of or in the T't+tvn of ~c~n~t~oed, 'out sha:~.l constitute a Lien •onl~~ an tlie, net. proceeds +af utilities, service taxes recci.~,red by t~1e 'Porn t'':ze m;~.flaner lax~o~rid.ed in said resolution., ~ . Ili '~IZ`f ~dlaSS Y~;rl~~:~JClJ~', said ~otvn of Longti~rood, FJ.or°s.da, lias :is.suecl this rt•~ote and has., caused the sa~~.e: 'to be signed by .its l~ia.yo~.~ and tl3e ccarporate sea;7l of said Tot~n to btu. affixed. thereto, at~testcd by tib~e ~'OFV11 C3.eak o.f S~~.d Totvi3~ a~7. Us ~o# t€1e lst day q,f A,pril9 1954 m _ ,e-- / I '~'IJ1d:iv CF ~CT3G1~0©~ll9. ~P,OI~ITI~I fittest $ • To~vn. Clerk 5 ^~':te pttyt~ent of tEte debt service o#' all the notes assned itErcun~dcr sh.~,ll be sceu~ed forthwith 4c~ually and r~.tahly 1 ~ by a Zion on the net proceeds ~e~~~i+red by the Town fx~oan util- ities servi~a~ taxes collected pr:~r,suant to tare .~c~ of Chapter 22529~.~ Acts of 1945, and the Tot~rn does lierEb~r irrevocably: pledge such net proceeds of such u;tal~t~us service takes t®. the payment o#' the princ~:pal of and i.nt~r+~~t ~gn tl~e notes issued laur.suant to this resol.utaon. Such net pr•o~c~:eds of such iitia_ties serv- . ice taxes siha;ll be ,deposited inn a specia3 account ins th© Florida . State ~:~r~ic a~' ~anfordB F~.orid:•a, and such net utilities service taxes, or •so n?uch thereof. as may 'be noc~:ssary9 shzl~. be paid . to ~+lorida 5~t:ate ~3ank of Sanford ;Ear the pay~~~ent of the prin~:i~ ` ~ A-...\ `1~ pad. of and nxi4er~est on the notes issued ;~o:rsta~.nt ~a this resa~- lution, In 1~~ic event that tY~e ax~ou;nt such net grc~ceeds of such utilita.eas service tajses cellec•tod for the, year precedi.n. • any matua arty ~ dztc o:~ ariy of said ncktes slhas~.l e :coed tfiaE a~oun.t necessary f~~~r t;he pay~nen•t ot'. a,~.l interest on said notes and •~lar~ payr~;en~t of :tlhe principal of the n.a7:cs ~natiarin~ on.• sZ3d. datesy ti~.ei~ the To4~t111 sha~.3. ~e r:n~itZed t:o use such •e~eess aruaunts for anvr ether ).o.!uful. ptxr~~osesa Nc~iae oi' •saad .i30t proceeds of srach ~ati3ities s,erv::icr; ts.ares sha7.~. eve;. ue userl., ~~otr~:ver~, by •the To!ii~a ~'~rr '~zny . uttzer pt.!~:•posc t}~~.td1 t;h~ pa.y~cnt ~kie principsuZ • a~~d i~.tEresZ japan s~a.d notes ua~tl the Florida, Mate k3a~k ~qf Sanford ,hall Dave certa:f iec~ to t;h~, Torn :ire wrt;n~ tl~?at s~'~id aiet nrace~c3s of such ut~.3.ities s~:r•vace ta~:es, or part thereof, • are not. neEd,ed far the pays~Pnt o~ ~pra.ncpal ©f, and interests on #:T~e notes f s:su.ed pursua,n:t t;o t,1zi ,s re;so7.ution. `f lie Tot~rn f'urtlZer co!remants ~,nd a.~rees that as 1a~z~ as as~y of t~ze princp~,1 of, ~r interest ox~ any of tlae Yaotes issued pursuamt to this resu•• • • , _ . 1t:~tioa. are ciutsta.ndix~g and u~.paid, o:c ps,y~n~azt thereof ~ZOt- dtaly ` pr®vic3~d foxy, a.t will oat; repeal said ord:~nance levying gush util3t~.es -;service taxes, oar amend or modify said ordia~e.rac~ iaa any ma'tltl~er :30 ~.s to reduce tEie rate or amount of attili:ties seY'v°° :ice taffies J~c~vaed ~tlzereuna~er, 6a All s~oniEb received fy~otn the tstatep «orlcy notes ~r©~ vided for rind a:uthor~ed here~.n st;iall be deposited by the Totfn of Lon~vrood a.n the spec.ia~: acco!a!nt; in the Florida Sta,t:e ~3a.n6€ ofc ~~,nfo-rd, an~~ shall ~c used. for a.n appla:cd by thc. Tot~~n solely to the payment t3f t11E COS t; of the C:afl'~r"t~'tlcta.an, a.mpx°avement, 0~^ tension :end ~zdda.tiar~ to -the said ~vatcr ct'ark:s systmme Ai~OPTLD at ~a special meF:t'En~ of the Town Council of titE y Toc~n of ~,ongr~;~vod, Florida, held a~L the City Ila~.l sn Lctn~;woad, F~.orida, this da:y of ~.,,,~,G~~~~'~ 3~35~•e ~ - I ~ Attest : Ai yob i / l T+awat Cleric • ~f -