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1995-21 Reso to Null & Void Resolutions No. 1995-13, 16 and 17 ~S-145~12 ~i. .-.. ,) .7 _.. ::;'5 ~ p, _N...._.. : '; "_.' :t '-, ~; '_I :'i' '.. n.... '" "_"'_.' _". RESOLUTION NO. 95 - 21 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF PARKLAND, FLORIDA, REVOKING AND DECLARING NULL AND VOID RESOLUTION 95-13, AND THE INTERLOCAL AGREEMENT ENTERED INTO BETWEEN THE FLORIDA LOCAL GOVERNMENT FINANCE AUTHORITY AND THE CITY OF PARKLAND ON MARCH 1, 1995, DECLARING SAID RESOLUTION OF NO FORCE AND EFFECT, AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on March I, 1995, the City of Parkland adopted Resolution 95-13 authorizing the borrowing of not exceeding $6,000,000 from the Florida Local Government Finance Authority; and WHEREAS, for reasons beyond the City's control, said financing was not forthcoming and the purposes for which the Resolution was adopted and for which the Interlocal Agreement of the same date was approved are no longer in place and cannot be accomplished; and WHEREAS, the City of Parkland and the Florida Local Government Finance Authority shall not be consummating the transaction contemplated by Resolution 95-13; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF PARKLAND, FLORIDA AS FOLLOWS: Section 1. Resolution 95-13 is hereby repealed and declared null in its entirety and void and of no force and effect. All docwnents executed thereby are hereby repealed and revoked and declared void by the City of Parkland and of no force and effect. Section 2. The Interlocal Agreement executed by the City and the Florida Local Government Finance Authority for the loan contemplated by Resolution 95-13 is hereby revoked and declared null and void and the City is authorized to execute an Agreement revoking same. Section 3. EFFECTIVE DATE. This instrument shall take effect immediately upon its adoption. Date Adopted: March --1..2., 1995. (SEAL) Q{.. ";; --", '~'/'....\ ,.~.'J"..7~./jI" . '*').' ,0- ':. 'i'# ~ ". , t:-J/S" lii" '1l\{~,:- ':\~. :1\ ..r-'~"'. ~_ : t't ~ . ,;. ",Q.,y -~. - ~ - .":. ~..., ">P' '-~~..,:,,;~~. ," l::.... -:- . -.,:.~ -. ~~~... '." ':; .' ~ -'1 .... ".-' ....'" ~v' '."").. '..".,~"'....." "" :::~1.'!\\ · CITY OF PARKLAND, FLORIDA ~ sttfilARA, - YOR .- FEE ITEM RETURN TO T:j:kOOl co 7"l; N c,.) c,.) (J'J -0 en o co C.11 0" C' f) ~'" CITY OF PARKLAND, FLA. RESOLUTION NO. 95 ~ 21 ATTESTED: ~_h~ a~~ SUSAN ARMSTRONG, CITY' ERK STATE OF FLORIDA COUNTY OF BROW ARD I, SUSAN ARMSTRONG . City Clerk of Parkland, Florida, do hereby certify that the above and foregoing is a true and correct copy of a resolution as the same was duly adopted and passed at a regular meeting of the Governing Body of the Governmental Unit on the 15 day of March, 1995, and as the same appears on record in my office. IN WITNESS WHEREOF, T hereunto set my hand and official seal this 15 day of MARCH . 1995. By: '-~..~ OAA-~ City Clerk 3/8/95 RECORDED IN THE OFFICIAL RECORDS 600It Of SHOWARD COUNTY. FLORIDA COUNl'f AOM'~ISTRATC;; co '"' N "" c.u en -0 G') o CO CJ1 -.! ~ 5.- ~ 45'~ i. :~ ',:CO!) : <. 'I, ,-: "7 '''1 ': ... ..- _...~ . . .... I ..., .... -_; .'~' .. - I _.~. .. RESOLUTION NO. 95 - 21 A RESOLUTION OF THE CITYCOMMlSSION OF THE CITY OF PARKLAND, FLORIDA, REVOKING AND DECLARING NULL AND VOID RESOLUTION 95-13, AND THE INTERLOCAL AGREEMENT ENTERED INTO BETWEEN THE FLORIDA LOCAL GOVERNl\1ENT FINANCE AUTHORITY AND THE CITY OF PARKLAND ON MARCH 1, 1995, DECLARING SAID RESOLUTION OF NO FORCE AND EFFECT, AND PROVIDING AN EFFECTIVE DATE. WHEREAS, onMarch 1, 1995, the City of Parkland adopted Resolution 95-13 authorizing the borrowing of not exceeding $6,000,000 from the Florida Local Government Finance Authority; and WHEREAS, for reasons beyond the City's control, said financing was not forthcoming and the pmposes for which the Resolution was adopted and for which the Interloca1 Agreement of the same date was approved are no longer in place and cannot be accomplished; and WHEREAS, the City of Parkland and the Florida Local Government Finance Authority shall not be consummating the transaction contemplated by Resolution 95-13; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF PARKLAND, FLORIDA AS FOLLOWS: Section 1. Resolution 95-13 is hereby repealed and declared null in its entirety and void and of no force and effect. All docwnents executed thereby are hereby repealed and revoked and declared void by the City of Parkland and of no force and effect. Section 2. The Interlocal Agreement executed by the City and the Florida Local Government Finance Authority for the loan contemplated by Resolution 95-13 is hereby revoked and declared null and void and the City is authorized to execute an Agreement revoking same. Section 3. EFFECTIVE DATE. This instrument shall take effect immediately upon its adoption. Date Adopted: March...1.2., 1995. (SEAL) CITY OF PARKLAND, FLORIDA \ '- ~ s1ff:{UARA, YOR tJ A(. CITY OF PARKLAND, FLA. RESOLUTION NO. 95 - 21 ATTESTED: -S:.-_~_ a~ SUSAN ARMSTRONG, CITY ERK STATE OF FLORIDA COUNTY OF BROW ARD I, SUSAN ARMSTRONG , City Clerk of Parkland, Florida, do hereby certify that the above and foregoing is a true and correct copy of a resolution as the same was duly adopted and passed at a regular meeting of the Governing Body of the Governmental Unit on the 15 day of March, 1995, and as the same appears on record in my office. IN WITNESS WHEREOF, I hercWlto set my hand and official seal this 15 day of MARCH . 1995. By: ,).<~ ~ OA-<--~ City Clerk """""",,,, ",f () "A MIll'",,,,, ,t~t c.. - I'll Ss I ~..~ ..'i:~ "..~ ..e9..'... '0 ~ ...~ ." *'~ e. ~ -" ~ "i"J '-"..' .- e. "y.., .. ~; ...~--.r ., . ~.,. f~-;. ..:-:)' ~.ri~ ,.., ... ~ :: ;-'-:D ..~ -;0' ~_-: ~r"..' L :,,~ ~-:....\ ~ t.o4' 0 lfi:: ..~' .~ L:,'T. '~;:;T : i ~, '" ~. ~ ..., ~ ~,;.:: ~'.; ~1 .? .- ~ v~ '~~.:, '~__,_ - '" ,~~~. I "> . _ c.;': 1li '.".:'" .I<("~. ~ *'-:-'.', : ~ . :~-:'1 ^r:t ~~~:\ '"\ oa .!J;." "."' \. ''.,;i'' ". tIs.... <:.~:.,.., , o. '-,j-. c.). ~,'a ~"~~...." * ,.,.alr #I1",U.""," . . .';! . ~_~;~j. 1, f:.>...... "'::;O",~,i;,.?,D ':OiJ,NT< -, R-,t:v that the above ~,'" ,..~r:;;::BYCl- Ill'. f ,~ '= '::': l'\'l :0_- and t;orrect cO~y 0 3~~, ~;'ir2gQ~n;~ ,::J '" ~ ~, ~- : f I L ::-'~"-"'" .-'.. .. .. ," :-~---::-\n~'''':\Gityofrcrt ,.~...;' ~:~".~:,,-~, -,.....,_; '...~;;i~ :.:n(!l {;ffr.~~ l~, .:~;: "h'-' . 0 ~ VIi \ NE.,;:;':;";:; ;,..,~ ,dJI..11 \) 19~ . -' - ~t);~;.1 r- .~y C~ tIfW'_,. _ . la'.ideda,.8, j' j{i. ,,' " -' ,_ "dm:nistrator (,;JUnti t\ .. I ~ d ~M(~ D.C. ay_ ~ RECORDED IN THE OFFICIAL RECORDS Soot OF iROWARO COUNTY. FLORdlA COUNrt AOMlrfISTMTO;; 3/8/95 City Of Parkland 6500 Parkside Drive Parkland, Florida 33067 (305) 753-5040 Fax (305) 341-5161 April 13, 1995 William L Zvara, Esq. 5345 Ortega Boulevard, Suite 6 Jacksonville, Florida 32210 RE: $6,000,000 Florida Local Government Finance Authority Revenue Bonds (Capital Projects Loan Program) Series 1995A Loan to the City of Parkland Dear Mr. Zvara: As directed in your March 23, 1995 letter to Andrew Maurodis, Attorney for the City of Parkland, I am enclosing one (1) copy of , the Interlocal Agreement tennination for the captioned financing which has been executed by the City. I am having the other original recorded in Broward County. Thank you for your prompt cooperation. ~~ Helen Lynott Administrative Assistant Attachments I ' LAW OFFICES OF ANDREW S. MAURODIS 321 S.E, 15th AVENUE FT,LAtnDEFUJAJJE,FLA,33301 TELEPHONE (305) 467 -2000 TELECOPIER (305) 467 -2306 P.O. BOX 8583 DEERFIELD BEACH, FLA 33443 ~PHONE(305)480-4265 TELECOPIER (305) 480-4490 REPL Y TO: March 31, 1995 Susan Armstrong City Clerk City of Parkland 6500 Parkside Drive Parkland, Florida 33067 RE: Interlocal Agreement Tennination Dear Susan: Enclosed please find two original copies of the lnterlocal Agreement termination, which has been executed by the Florida Local Government Finance Authority. Please have these copies of the lnterlocal Agreement executed. Upon execution, please record one original and return the other original to William Zvara. Sincerely, Andrew S. Matirodis ASM:jms Enclosure WILLIAM L. ZVARA, P.A. AITORNEY AT LAW P.O. BOX 49 ORTEGA STATION 5345 ORTEGA BOULEVARD, SUI1E 6 JACKSONVll..LE, R..ORIDA 32210 TELEPHONE 904-387..9212 TELECOPY 904-387-9215 March 23, 1995 Andrew S. Maurodis Attorney At Law 321 Southeast .15th Avenue Fort Lauderdale, Florida 33301 Re: $6,000,000 Flortda Local Government Finance Authority Revenue Bonds (Capital Projects Loan Program) Series 1995A Loan to the City of Parkland Dear Andrew: In response to your letter dated March 7, 1995, enclosed please find two (2) copies of the Interlocal Agreement termination for the captioned financing which have been executed by the Authority. After the City has executed them, please record one in Sroward County and return the other to me. Please call if I can be of further service. Very Truly Yours, tfOdt William L. Zvara Enclosures WLZ-03/'J:3/95-Z028- Ltr3-23 , ,., ~ 3 0 1'''1'",,'':' I ' INTERLOCAL AGREEMENT THIS INTERLOCAL AGREEMENT made and entered into this 8. day of March, 1995, by and between the FLORIDA LOCAL GOVERNMENT FINANCE AUTHORITY, a public body corporate and politic organized and existing under the laws of the State of Florida (the "Sponsor"), and CITY OF PARKLAND, FLORIDA, a public body corporate and politic organized and existing under the laws of the State of Florida (the "Governmental Unit") as follows: WHEREAS, the Sponsor and the Governmental Unit entered into an Interlocal Agreement dated March 1, 1995, to facilitate the issuance of certain bonds; and WHEREAS, as a result of certain events, the bonds were never issued, the loan proceeds from the bonds were never disbursed, and the bond issue never consummated; and WHEREAS, the Governmental Unit and the Sponsor executed an Interlocal Agreement dated March 1, 1995, which Interlocal Agreement was recorded in the Public Records ofBroward County; and WHEREAS, both parties wish to record this document to indicate that said lnterlocal Agreement is hereby cancelled and of no force and effect and shall be rendered. void, NOW, THEREFORE, BE IT AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS: Section 1. The above representations are true and correct and made a part hereof. Section 2. The InterlC>cal Agreement made between the Sponsor"and the Governmental Unit dated March 1, 1995, a copy of which is attached hereto as Exhibit "A", is hereby cancelled, rescinded, and declared void and of no force and effect. Said Agreement shall be considered void ab initio, and shall be given no effect. Section 3. This Agreement shall take effect when duly executed by the parties. A copy shall be filed with the Clerk of the Broward County Circuit Court. FLORIDA LOCAL GOVERNMENT FINANCE AUTHORITY Sponsor '~ Vice Chairman (SEAL) A TIEST: <h N. 'JOt CITY OF PARKLAND, FLORIDA Governmental Unit By: (SEAL) ATIEST: By: l~~ C2-,~ City Clerk INTERLOCAL AGREEMENT TIDS INTERLOCAL AGREEMENT made and entered into this 1 st day of March. 1995. by and between the FLORIDA LOCAL GOVERNMENT FINANCE AUTHORITY. a public body corporate and politic organized and existing under the laws of the State of Florida (the "Sponsor"). and CITY OF PARKLAND. FLORIDA. a public body corporate and politic organiZed and existing under the laws of the State of Florida (the "Governmental Unit"). All capitalized terms used herein and not otherwise defined herein shall have the respective meanings assigned to such terms in the Loan Agreement. as hereinafter defined. WITNESSETH: WHEREAS. Part I of Chapter.163 of the Flcnida Statutes authorizes the creation of the Sponsor within the State of FloIida for the' purpose of issuing revenue bonds or other obligations under the Constitution and laws of the State of FloIida to assist in financing the cost of the acquisition. construction and improvement of capital projects of participating local governmental units. including the Governmental Unit: and WHEREAS. pursuant to Chapters 163. 125. 159 and 166. FloIida Statutes. as amended. and other applicable provisions of law (the "Act'1 the Sponsor and Governmental Unit are authorized to assist in financing the acquisition. construction and improvement of any capital project as descIibed therein: and WHEREAS. the Governmental Unit desires to acquire. construct and improve public parks and recreation areas (collectively. the "Project") within the territory and jurisdiction of the Governmental Unit which Project constitutes a qualified capital project under the Act: and WHEREAS. the Sponsor has established its Capital Projects Loan Program (the "Program") for financing or refinance qualified capital projects such as the Project upon the issuance of the Sponsor's obligations (the "Obligations") which provide funds for the Governmental Unit to acquire, construct and improve the Project pursuant to this Agreement: and WHEREAS. by pooling the financial resources of the Sponsor. the Governmental Unit and other participating governmental units throughout the State of Florida. the benefits of lower interest rates and economies of scale associated with a large scale financing may be obtained and passed through to the Governmental Unit: and WHEREAS. the Governmental Unit desires to borrow not exceeding $6.000.000 from the Program to finance or refinance the acquisition. construction and improvement of the Project which loan is to be governed by this Agreement and a Loan Agreement between the Sponsor and the Governmental Unit (the "Loan Agreement") on file with First Union National Bank of Florida. or any successor. as Trustee for the Obligations (the "Trustee"): and WHEREAS. Section 163.01. Florida Statutes. as amended. authorizeS this Agreement and confers upon the Sponsor the authoIity to loan, ~uch funds from the Program to the Governmental Unit to acquire. construct and improve the Project which is located within the territory and juIisdiction of the Governmental Unit: and WHEREAS. it is the intent of the parties hereto to provide an additional method of financing for projects of the Governmental Unit within the area of operation of the Governmental Unit through the exercise of the joint powers of the Governmental Unit and the Sponsor in the manner set forth herein; Prepared by and Return to: William l. Zvara William l. Zvara. P .A. 1750 Riverplace Tower Jacksonville, Florida 32207 WLZ-02/24/95-Z028-1nLoc-P -1- EXHIBIT "A" NOW THEREFORE. the parties hereby agree as follows: Section 1. Authorization to the Sponsor. The Governmental Unit hereby authorizes the Sponsor to issue the Obligations for the purpose of providing a loan or loans from the Program to the Governmental Unit in an amount .not exceeding $6.000.000 to finance or refinance the acquisition. construction and improvement of the Project. All proceeds of the Obligations of the Sponsor will be administered by the Sponsor or its agents until disbursed to the Governmental Unit in accordance with the Loan Agreement. All payments due on the Obligations from the revenues and sources specified therefor shall be paid by the Sponsor or its agents without further action by the Governmental Unit except as required by the Loan Agreement. The Sponsor shall have all power and authority of the Governmental Unit to do all things necessary or convenient to the implementation of the Program for the Governmental Unit within the area of operation of the Governmental U.nit.Jo,tbe~ame extent as if the Governmental Unit were issuing its own obligations for such purposes. It is the intent of this Agreement that tlie Sponsor be vested. to the maximum extent pennitted by law. with al1 powers which the Governmental Unit might exercise with respect to the financing of the Project. All such actions shall be taken in the name of and be the financial obligations of the Sponsor except as provided in the Loan Agreement. Section 2. Term: Amendments. This Agreement will remain in full force and effect from its effective date as herein provided until such time as it is terminated by any party hereto upon ten calendar days written notice to the other party hereto and to the Trustee: provided. however. that notwithstanding the foregoing. it Is agreed that this Agreement may not be unilaterally terminated by any party unless and until either (1) the Obligations issued to finance the loan to the Governmental Unit no longer remain outstanding or (il) the Loan Agreement has been paid in full. The parties to this Agreement may mutually agree in wtiting to the terms of any termination with the wtitten consent of the Trustee. It is further agreed that in the event of termination the parties to this Agreement will provide continuing cooperation to each other in fulfilling the purposes associated with the Program and the Obligations. Nothing herein shall be deemed in any way to limit or restrict the Governmental Unit from issuing its own obligations. providing its own program or participating in any other program for the financing of any capital project which the Governmental Unit may choose to finance. This Agreement may be amended only by wtitten instrument signed by the parties hereto with the written consent of the 1Iustee: provided. however. that no such amendment which would adversely affect the rights of the owners of any outstanding Obligations of the Sponsor. as determined by counsel to the Sponsor. shall be effective unti[ such time as all necessary written consents or approvals with respect to such Obligations shall have been obtained. Any termination or amendment of this Agreement shall be filed In accordance with law. Section 3. FWng of this Agreement. It is agreed that this Agreement shall be filed by the Sponsor. or its authorized agent or representative. with tbe clerk of the . circuit court of the county in which the Sponsor's seat of government is located and with the clerk of the circuit court of the Governmental Unit or of the county in which the Governmental Unit Is located. all in accordance with Section 163.01. Florida Statutes. as amended. Section 4. ObUgations of the Sponsor. The Sponsor may evidence any borrowing authorized herein by the issuance of its Obligations: provided. however. that any such Obligations shall state on their face that such Obligations shall not be or constitute a general obligation or indebtedness of the Sponsor. the State ofFlorlda. the Governmental Unit. or any political subdivision thereof. but shall be a limited. special obligation of the Sponsor. payable solely from the revenues, receipts and other sources pledged therefor under the Loan Agreement or otherwise available to the Sponsor under a Program. Such Obligations shall further provide that no owner of any such Obligation shall have the right to require or compel the payment of such Obligations WLZ-02/24/95-Z028-lnLoc-P -2- except from the sources set forth therein. Nothing in this section shall be deemed to prohibit or l1m1t the pledge of the Governmental Unit securing its Loan Agreement or any additional pledge of the Governmental Unit from any funds or obligations which may lawfully be pledged for such purpose. Section 8. SeverabWty of Invalid Provisions. If anyone or more of the covenants. agreements or provisions herein contained sh~l be held contrary to any express provisions of law or contrary to the pol1cy of express law. though not expressly prohibited. or against public poliey. or shall for any reason whatsoever be held invalid. then such covenants. agreements or provisions shall be null and void and shall be deemed separable from the remaining covenants. agreements or provisions and shall in no way affect the validity of any of the other provisions hereof. Section 6. Counterparts. This Agreement may be simultaneously executed in several counterparts. each 'of which!Snall be an original and all of which shall constitute but one and the same instrument. Section 7. Effective Date. This Agreement shall take effect when duly executed by the parties hereto and filed in accordance wtth law. WLZ-02/24/95-ZQ28-(nLoc-P -3- IN WITNESS WHEREOF. the parties to this Interlocal Agreement have caused their names to be affixed hereto by the proper officers thereof as of the date first above written. FLORIDA LOCAL GO-WRNMENT FINANCE AUTHORITY Sponsor By: Vice Chairman CITY OF PARXLAND. FLORIDA :~=enwum~ ~. ~/24/95-Z028'~-P -4- 95'-092800 T:f:I:OOl 03-03-gs 01:30PM INTERLOCAL AGREEMENT V 0 /1) , TIDS INTERLOCAL AGREEMENT made and entered into this ~f March. 1995. by and between the FLORIDA LOCAL GOVERNMENT FINANCE AUTHORITY. a public body corporate and pol1tlc organized and existing under the laws of the State of Florida (the "Sponsor"). and CITY OF PARKLAND. FLORIDA. a public body corporate and politic organized and existing under the laws of the State of Florida (the "Governmental Unit"). All capitalized terms used herein and not otherwise defined herein shall have the respective meanings assigned to such terms in the Loan Agreement. as hereinafter defined. WITNESSETH: WHEREAS. Part I of Chapter 163 of the Florida Statutes authorizes the creation of the Sponsor. within the,State.ofFlorida for the purpose of issuing revenue bonds or other obligations under theCO(lstitution and laws of the State of Florida to assist in financing the cost of the acquisition. construction and improvement of capital projects of participating local governmental units. including the Governmental Unit: and WHEREAS. pursuant to Chapters 163. 125. 159 and 166, Florida Statutes. as amended, and'. otherappl1cable provisions of law (the "Act'1 the Sponsor and Governmental Unit are authorized to assist in financing the acquisition, construction and improvement of any capital project as described therein: and WHEREAS, the Governmental Unit desires to acquire, construct and improve public parks and recreation areas (collectively. the "Project") within the territory and jurisdiction of the Governmental Unit which Project constitutes a qualified capital project under the Act: and ' WHEREAS, the Sponsor has established its Capital Projects Loan Program (the "Program") for financing or refinance qualified capital projects such as the Project upon the issuance of the Sponsor's obligations (the "Obligations") which provide funds for the Governmental Unit to acquire, construct and improve the Project pursuant to this Agreement: and WHEREAS, by pooling the financial resources of the Sponsor. the Governmental Unit and other participating governmental units throughout the State of Florida, the benefits of lower interest rates and economies of scale associated with a large scale financing may be obtained and passed through to the Governmental Unit: and WHEREAS, the Governmental Unit desires to borrow not exceeding $6,000.000 from the Program to finance or refinance the acquisition, construction and improvement of the Project which loan is to be governed bY this Agreement and a Loan -Nveement between the Sponsor and the Governmental Unit (the ''Loan Agreement") on file with First Union National Bank of Florida. or any successor, as Trustee for the Obligations {the 'Trustee'1: and WHEREAS, Section 163.01, Florida Statutes, as amended, authorizes this Agreement and confers upon the Sponsor the authority to loan such funds from the Program to the Governmental Unit to acquire, construct and improve the Project which is located within the territory and Jurisdiction of the Governmental Unit: and WHEREAS, it is the intent of the parties hereto to provide an additional method of financing for projects of the Governmental Unit within the area of operation of the Governmental Unit through the exercise of the Joint powers of the Governmental Unit and the Sponsor in the manner set forth herein: WLZ-G2/24/95-Z028-1nLoc-P -1- ~ FEE ITEM . ~ ':~ETURN TO , c8C'NT ~ECOR.DJNG o X N c..J ~ -.1 -0 G? o --.I N en ~. .A NOW THBRBJI'ORE. the parties hereby agree as follows: Section 1. Authorlution to the Sponsor. The Governmental Unit hereby authorizes the Sponsor to issue the Obl1gations for the purpose of providing a loan or loans from the Program to the Governmental Unit in an amount not exceeding $6.000.000 to finance or refinance the acquisition. construction and improvement 01 the Project. All proceeds of the ObUgations of the Sponsor will be administered by the Sponsor or its agents until disbursed to the Governmental Unit in accordance with the Loan ~eement. All payments due on the Obligations from the revenues and sources specifie<i therefor shall be paid by the Sponsor or its agents without further action by the Governmental Unit except as required by the Loan Agreement. The Sponsor shall have all power and authority of the Governmental Unit to do all things necessary or convenient to the implementation of the Program for the Governmental Unit within the area of operation of the Governmental Unit. to the same extent as if the Governmental Unit were issuing lts...own..obl1gations for such purpo~es. It is the intent of this A,tueement that the Sponsor be vested. to the maximum extent permitted by law. with all powers which the Governmental Unit might exercise with respect to the financing of the Project. All such actions shall be taken in the name of and be the financial obUgations of the Sponsor except as provided in the Loan Agreement. Section 2. Term; Amendments. This Agreement will remain in full force and effect from its effective date as herein provtdea until such time as it is terminated by any party hereto upon ten calendar days written notice to the other party hereto and, to the Trustee: provided, however. that notwithstanding the foregOing, it is agreed that this Agreement may not be unilaterally terminated by any party unless and unttl either (i) the Obl1gations issued to finance the loan to the Governmental Unit no longer remain outstanding or (11) the Loan Agreement has been paid in full. The parties to this Agreement may mutually agree in writing to the terms of any termination with the written consent of the Trustee. lt is further agreed that in the event of termination the parties to this Agreement will provide continuing cooperation to each other in fulfilling the purposes associated with the Program and the Obligations. Nothing herein shall be deemed in any way to limit or restrict the Governmental Unit from issuing its own obligations. providing its own program or participating in any other program for the financing of any capital project wliich the Governmenfal Unit may choose to finance. This Agreement may be amended only by written instrument signed by the parties hereto with the written consent of the Trustee: provided. however. that no such amendme.nt which would adversely affect the rights of the owners of any outstanding Obligations of the Sponsor. as determined by counsel to the Sponsor. shall be effective untif such time as all necessary written consents or approvals with respect to such Obligations shall have been obtained. Any termination or amendment of this Agreement shall be filed in accordance with law. Section 3. FtllDC of thl. A&reement. It is agreed that this Agreement shall be flIed by the Sponsor. or its authorized agent or representative. with tbe clerk of the circuit court of the county in which the Sponsor's seat of government is located and with the clerk of the circuit court of the Governmental Unit or of the county in which the Governmental Unit is located. all in accordance with Section 163.01. Florida Statutes. as amended. Section 4. ObJlCatlou of the SponHr. The Sponsor may evidence any borrowing authoriZed herein by the issuance of its Obl1ptions: provided. however, that any such Obligations shall state on their face that such Obligations shall not be or constitute a general obligation or indebtedness of the Sponsor. the State of Florida, the Governmental Unit. or any political subdivision thereof, but shall be a limited, special obligation of the Sponsor. payable solely from the revenues, receipts and other sources ple<fged therefor under the Loan Agreement or otherwise available to the Sponsor under a Program. Such Obligations shall further provide that no owner of any such Obligation shall have the light to require or compel the payment of such Obligations WLZ-02/24/9S-Z028-InLoc-P -2- c:= 7'1;; N W \.D -.J " c;':' c: - f'. U except from the sources set forth therein. Nothing in this section shall be deemed to prohibit or l1m1t the pledge of the Governmental Unit secwing its Loan Agreement or any additional pledge of the Governmental Unit from any funds or obllgations which may lawfully be pledged for such purpose. ' Section IS. SeverabWty of IDvalJd Provtalol18. . If anyone or more of the covenants. agreements or provisions herein contained shall be held contrary to any express provisions of law or contrary to the poliey of express law. t.hOUgp. not expressly prohibited. or against publlc polley. or shall for any reason whatsoever be held invalid. then such covenants. agreements or provisions shall be null and void and shall be deemed separable from the remaining covenants. agreements or provisions and shall in no way affect the validity of any of the other provisions hereof. Section 6. C01Ulterparts. This Agreement may be simultaneously executed in several counterparts. each of which shall be an original and all of which shall constitute but one and the same instrument. Section 7. Meetlve Date. This Agreement shall take effect when duly executed by the parties hereto and filed in accordance with law. WLZ-02/24/95-Z028-InLoc-P -3- C3 ~ N c:..;l ~ -.1 -0 en o -' N -.J IN WITNBSS W'HBRBOJI'. the parties to this Interlocal Agreement have caused their names to be affixed hereto by the proper officers thereof as of the date first above written. WLZ-02124195-Z028-lnLoc-P FLORIDA LOCAL GOVBRNIIENT FINANCE AUTHORITY Sponsor L/ CITY OF PARKLAND, FLORIDA Governmental Unit By: ~~~p, Mayor Q ?' N W ..0 ....J -0 c:> o -i N CO Return to: Susan Armstrong City Clerk City of Parkland 6500 Parks ide Drive Parkland, Florida 33067 -4- ItiOORDIiI 1M 1'H! OFFICIA[ RmoROS BOeI DE BROWARD COUNTY. FLOIlIQl ~UNTY AlMI~' "r MAR-13-1995 11:33 P.01 Fax: FAX TRANSMISSION COVER SHEET Date: March 13, 1995 To: Harry Mertz, Ci~ Manager Fax: (305) 34 1.5161 Re: Resolution Declaring Null and Void Resolution 95- J 3 Sender: Andrew S. Maurodis, Esq. (305) 480-4265 YOU SHOULD RECEIVE 3 PAGE(S), INCLUDING l1fIS COVER SHEET. IF YOU DO NOT RECEIVE AU THE PAGES, PLEASE CALL . We need to add this Resolution toW ednesday night's Agenda.