89-10 v RESOLUTION 89-10
A RESOLUTION APPROVING EXECUTION AND DELIVERY OF A
RESALE AGREEMENT REGARDING OAK HARBOR WATER AND
SEWER REVENUE BONDS; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Atlantic Beach, Florida (the "City") has entered into an
Agreement of Purchase and Sale dated February 7, 1989 (the "Agreement") which provided
for a closing by March 1, 1989, relating to the sale of certain assets by Atlantic Utilities
of Jacksonville, Inc. (the "Seller") to the City in exchange for certain Oak Harbor Water
and Sewer District Revenue Bonds (the "Bonds"); and
WHEREAS, Seller has recently advised the City that it desires to market and
sell the Bonds to third parties in the near future; and
WHEREAS, the City desires to close the transaction in the form described in
the Agreement, and to agree to certain modifications in the future to facilitate desires of
Seller, which are embodied in the terms of the Resale Agreement Regarding Oak Harbor
Water and Sewer Revenue Bonds, a form of which is attached hereto as Exhibit "A" and by
reference incorporated herein;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF ATLANTIC BEACH, FLORIDA:
Section 1. The form of Resale Agreement Regarding Oak Harbor Water
and Sewer Revenue Bonds, attached hereto as Exhibit "A", is approved, and the Mayor and
Clerk of the City are authorized to execute and attest, and to deliver to the Seller, such
Resale Agreement contemporaneously with the closing of the sale of assets described
above.
Section 2. This resolution shall take effect immediately upon its
adoption.
CIT ' OF AT • TIC : • • CH, FLORIDA
l' I
By: A. .h.. _ I A 461.
Mayor -.
ATTEST:
•
-4---7(_9 -
Clerk
CERTIFIC4TION
For • : ' ! . 0.-d as to form and content: I certify this b.be a true and correct '
copy of the reccrd_in my_office. •
rriynd and eiic al seal
of the City of Rantic �3i acii, i-I.;r,da,
`-' : id L. Mullis _ this the42/1209y
City Attorney 19
City Clerk
. f{ LKL-02/22/89-262AA-2738
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