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Home My WebLink AboutResolution No. 1980-55 Resolution No. 1980-55 On January 26, 2015, City Clerk’s office noted that Resolution 1980-55 is missing. Paper work (included in this file) indicated that the resolution was “attached” but the only document attached was a Loan Resolution. MICROFILMED 1.28- RESOLUTION NO. 80-55 83 (Resolution is attached) • . 0 r .1 [I/ • , City of Cape Canaveral Resolution No. 80-55 , • Position S MICIT • USDA-FmHA OFI LIVED 1-18-83 Form FmHA 44247 LOAN RESOLUTION (Rev.4-9-76) (Public Bodies) City Council--- --- - - __ A RESOLUTION OF THE - • ----------- Citof Cape ' Canaveral , Florida_ __ OF THE ----�-- ----- - - --------- AUTHORIZING AND PROVIDING FOR THE INCURRENCE OF INDEBTEDNESS FOR THE PURPOSE OF PROVIDING A PORTION OF THE COST OF ACQUIRING,CONSTRUCTING,ENLARGING,IMPROVING,AND/OR EXTENDING ITS-----WnstQ Water .Treatment T'acilit.leS— _-__-- — FACILITY TO SERVE AN AREA LAWFULLY WITHIN ITS JURIDICTION TO SERVE. WHEREAS,it is necessary for the City CQuILci .---Ql -the_Cj„ty__Ql._.Cepe Conayera1,.Florida (Public Body) • (hereinafter called association) to raise a portion of the costof such undertaking by issuanceof its bonds in the principal 1 730 000 .00 amount of- $ —1 ---- pursuant to the provisions of-.--ri ty C i,artPr -_aud_t1ae.��aL,rs..t7£ the-�t�t~� .9 F�9 da . WHEREAS, the association intends to obtain assistance from the Farmers Home Administration, United States Department of Agriculture,(herein called the Government)acting under the provisions of the Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et seq.) in the planning, financing, and supervision of suchundertaking and to purchasing of bonds lawfully issued, in the event thatno other acceptable purchaser for such bonds is found by the association: NOW THEREFORE, in consideration of the premises the association hereby resolves: I. To have prepared on its behalf and to adopt an ordinance or resolution for the issuance of its bonds and containing such items and in such forms as are required by STATE statutes and as are agreeable and acceptable to the Government. 2. To refinance the unpaid balance, in whole or in part, of its bonds upon the request l of the Government if at' any time it shall appear to the Government that the association is able to refinance its bonds by obtaining a loan • for such purposes from responsible cooperative or private sources at reasonable rates and terms for loans for similar purposes and periods of time as required by section 333(c) of said Consolidated Farm and Rural Development Act (7 U.S.0 1983(c)). 3. To provide for, execute, and comply with Form FmriA 4004. "Nondiscrimination Agreement"; and Form FmHA 400-1, "Equal Opportunity Agreement", including an "Equal Opportunity Clause", which clause is to be in- corporated in, or attached as a rider to.each construction contract and subcontract involving in excess of 510,000. • 4. To indemnify the Government for any payments made or losses suffered by the Government on behalf of the association. Such indemnification shall be payable,from the saline source of funds pledged to pay the bonds or any other legally permissable source. • S. That upon default in the payments of any principal and accrued interest on the bonds ur in the performance of any covenant or agreement contained herein or in the instruments incident to making or insuring the loan,the Government, at its option may (a)declare the entire principal amount then outstanding and accrued interest immediately due and payable, (b) for the account of the association (payable from the source of funds pledged to pay the bonds or any other legally permissable source) incur and pay reasonable expenses for repair, maintenance, and operation of the facility and such other reasonable expenses as may be necessary to cure the cause of default, and/or (c) take possession of the facility, repair, maintain, and operate or rent it. Default under the provisions of this Resolution or any instrument Incident to the making or insuring of the loan may be construed by the Government to constitute default under any other instrument held by the Government and executed or assumed by the association,and default under any such instrument may be construed by the Government to constitute default hereunder.. 6. Not to sell, transfer, lease,or otherwise encumber the facility or any portion thereof,or interest therein,not permit others to do so,without the prior written consent of the Government. • 7. Not to borrow any money from any source,enter into any contract or agreement, or incur any other liabilities in connection with making enlargements, improvements or extensions to, or for any other purpose in connection with the facility (exclusive of normal maintenance) without !he prior written consent of the Government if such undertaking would involve the source of funds pledged to pay the bonds. 8. To place the proceeds of the bonds on deposit in an account,in a bank,and'in a manner approved by the Government. F11111 44247(Rev.4 9-76) . r • i`` I, � i - 8 3 9: to comply with all'appiicable State and Federal laws and regulations and to t l ma t • ` facility in good condition. 10. To provide for the receipt of adequate revenues to meet the requirements of debt service,operation and maintenance, and the establishment of adequate reserves_No free service or use of the facility will be permitted. 11. To acquire and maintain such insurance coverage including fidelity bonds as may be required by the Government. 12. To establish and maintain such books and records rcbting to the operation of the facility and its financial affairs and to provide for required'audit thereof in such a manner as may be required by the Government,ent,to provide the Government without its request, a copy of each such audit, and to make and forward to the Government such additional information and reports 25 it may from time to time require. 13. To provide the Government at all reasonable times access to all books and records relating to the facility and access to the property of the system so that the Government may ascertain that the association is complying with the provisions hereof and of the instruments incident to the making or insuring of the loan_ 14. To serve any applicant within the service arca who desires service and can be feasibly and legally served,and to obtain the concurrence of the Farmers Home Administration prior to refusing service to such applicant. Upon the failure to provide such service which is feasibleand legal such applicant shall have a direct right of action against • the association under this agreement. The provisions hereof and the provisions of all instruments incident to the making or the insuring of the loan,unless otherwise specifically provided by the terms of such instruments,shall be binding upon the association as long as the bonds are held or insured by the Government.The provisions of sections 6 through 13 hereof may be provided for in more specific detail in the bond resolution or ordinance;to the extent that the provisions contained in such bond resolution or ordinance should be found to beinconsistent with the provisions hereof, these provisions shall be construed as controlling as between the association and the Government. The vote was: Yeas 5 ; Nays 0 •; Absent -----0 -- . . City Council • of the IN WITNESS WHEREOF, the ..—– —_—"'_ ' City of Cape Canaveral , Florida has duly adopted this Resolution and caused ,.. ,; - 16 December8-IQ- it to be executed by the officers.:below in duplicate on this day of — , 19 ,,.ao.1nL3\i9Q , '�" ` t2th,r -, -' � • 4." t City . f a e Can.ve alFlorida ° ° i \Q °° d e (SEAL) -::". . ° � 4; By i.'s A A - ____ s � ,% ' Attest: -_;:,;01,5'; Title Acting"• tea Title - p ,t;:i City°°C1,e'!"S 91. (PO, ,,k.l.'s ..r .. .. : CERTIFICATION "- Acting City Clerlcf the City of Cape Canaveral,___ anal_ _—___ 1,the undersigned,.a3��®`�� hereby certify that the --- City Council —_— — of such Association is composed of 5 members, of whom 3 ,constituting a quorum,were present at a meeting thereof duly called and held on the 16 clay of— December 19 80 ;that the foregoing resolution was adopted at such meeting by the vote shown above;and that said resolution has not been rescinded or amended in any way. Dated, this 22 day of December -- , 19 80 _ _____ Pjarvi...0, 34_,_Ra-ci2.4-4-2,:e-i-4–• Acting *v.s.c90:39n o-res-ooansas y City Clerk Title - -- Approved/. s to form: - • Afm„Ail , Agrifir At 4o,...Ig4110 /C'�y Attorney