Resolution 200RESOLUTION xo. 200
A RESOLUTION O THE C OF L WOOU, FL ,
THE ISSUANCE O REVENUE
NOTE OFETHE CITY OF LONGWOODA, FLORIDA, IN
AL AMOUNT OF $245,000 AND P -
SCxIBINGCT OF MA URITY, INTEREST RATE
ANU OTHER DETAILS OF SAID NOTe.
WHEREAS, by an Ordinance duly adopted on the ~~~day
of ~ U[4~~. A.O. 19]2, the city Council of the City of
Longwood, Florida, authorized the issuance of a $245,000 City
of Longwood, Florida, Water revenue Note payable to the South
Seminole Bank, Fern Pazk, Florida, to finance the cost of the
cons trvetion and acquisition of additions, extensions and
improvements to the City Waterworks System and zedempti.on of
outstandiny waterworks improvement note and sewer system
improvement note, and
WHEREAS, the City Council of the City of Longwood,
Florida, now des ues to authorize the Mayor and City Clerk to
execute all documents and ao all things necessary to effectuate
the clos inq of the said loan;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF LONGWOOD, FLORIDA, AS FOLLOWS:
N 1: That in accordance with the aforesaid
orainanne aatea ~GUS-Y 31 , 1974 e,e mayor ana city
Clerk are hereby authorized to execute, rssue and deliver the
City of Longwood, Florida, Water Revenue Note as described in
the said Ordinance in the principal amount o£ $245,000.
SECTION 2: That the said Mayor and City Clerk are
hereby authorized to execute all other documents necessary to
effectuate the closing of the said loan and to pay closing costs
as required, the said loan to be secured by a pledge of an<
prior lien on all the water revenues of the Waterworks Sy st
and the water Utilities sexvrces taxes resulting therefrom,
which it is based shall be deemed to be and shall cons tr tote
a contract between the City of Longwood, Ploxida, and the
South Seminole Hank.
SECTION 4: That this Resolution shall take effect
rmmediately.
PASSED AND ADOPTED this ~ day of ~Lh VS>v
A.D. 1972.
n11A:c~~`~'' £ i it of
Dene~ L gwotd. Deloriaa
ATTEST:
T/ CL~ w~
YOA of the City o_ Longwood,
Florida