91-R-19RESOLCTTON NO. 91-R-19
A RESOLUTION EXTENDING THE MATURITY OF THE CITY'S
OUTSTANDING $4,700,000 WATER AND SEWER REVENUE
BOND ANTICIPATION NOTES, SERIES 1990, FROM JUNE 3,
1991 TO SEPTEMBER 3, 1991 AND PROVIDING FOR
INTEREST TO BE PAID ON JUNE 3, 1991 AND SEPTEMBER 3,
1991; AMENDING RESOLUTION NO. 90-R-35 OF THE CITY
RELATING TO SUCH NOTES FOR THE FOREGOING PURPOSE;
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City has issued $4.700,000 Water and Sewer Revenue Bond
Anticipation Notes, Series 1990, all of which are owned by Sun Ban$ National
Association, which Notes mature on June 3. 1991; and
WHEREAS, the City's financial plan contemplates issuance of Water and Sewer
Revenue Bonds to provide funds for payment of the Notes, the issuance of which will
be delayed to a date after June 3, 1991 but earlier than September 3, 1991: and
WHEREAS, Sun Bank, National Association has indicated its willingness to
extend the maturity of the Notes as provided herein to accommodate the City's current
timing of its financial plan; NOW THEREFORE
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF EDGEWATER,
FLORIDA:
Section 1. The City's outstanding $4,700.000 Water and Sewer Revenue
Bond Anticipation Notes, Series 1990, shall mature on September 3, 1991, and not on
June 3, 1991. as originally authorized. Interest shall be due and payable on the Notes
on June 3. 1991 and September 3, 1991. Resolution No. 90-R-35 of the City which
authorized and provided for issuance of the Notes is hereby amended to the extent
inconsistent herewith.
Section 2. This Resolution shall take effect upon its approval by Sun Bank,
National Association, as owner of 100% of the outstanding Notes.
This Resolution was introduced and sponsored by Counciluerson Gillespie
and was read and passed by a vote of the City Council of the City of Edgewater.
Florida, at a Regular meeting of said Council held on the 6 day of
May , 1991. and approved as provided by law.
CALL VOTE AS
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Approved as to form:
Acting City Attom
ed this 6 day of May , 1991.
CONSENT OF
Sun Bank, National Association, Orlando, Florida, being the current owner and
holder of $4,700,000 Water and Sewer Revenue Bond Anticipation Notes, Series 1990
of the City of Edgewater, Florida, hereby consents to the extension of the maturity of
the Notes as provided in the Resolution to which this Consent is attached.
Dated: I 1991
SUN BANK, NATIONAL ASSOCIATION
By:
Title: AVP
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