89-23 v RESOLUTION NO. 89-23
A RESOLUTION AUTHORIZING THE EXECUTION OF
A SECONDARY AMENDMENT TO PARTICIPATION
AGREEMENT EVIDENCING A LOAN FROM THE FIRST
MUNICIPAL LOAN COUNCIL IN AN AMOUNT NOT TO
EXCEED $800 , 000 ; AND AUTHORIZING ALL NECES-
SARY OR DESIRABLE ACTION IN CONNECTION THERE-
WITH.
WHEREAS, the City of Atlantic Beach, entered into
the Interlocal Agreement with other participating municipal-
ities and counties in the State of Florida on August 26 ,
1986 authorizing membership in the First Municipal Loan Coun-
cil;
WHEREAS, the City of Atlantic Beach, entered into
the Participation Agreement on August 25, 1986 and a first
amendment thereto dated as of December 1 , 1988 , with the
First Municipal Loan Council ( the "Council" ) to finance
certain qualifying public projects ; and
WHEREAS, the City of Atlantic Beach now desires
to borrow additional funds from the Council to finance
additional qualifying projects ;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMIS-
SION OF ATLANTIC BEACH, FLORIDA, AS FOLLOWS:
SECTION 1 . The City Commission has determined
that the Participation Agreement previously entered into
( the "Participatin Agreement" ) by and between the City of
Atlantic Beach ( the "Public Agency" ) and the First Municipal
Loan Council ( the "Council" ) should be amended in order to
provide for the borrowing of additional funds from the Coun-
cil .
SECTION 2 . The terms of the Secondary Amendment
to the Participation Agreement , attached as Exhibit A to
this Resolution, and are hereby approved and ratified with
such changes , alterations and corrections thereto as may be
approved by the persons authorized to execute such documents
pursuant to Section 3 hereof , such approval to be presumed
by their execution thereof .
SECTION 3 . The Public Agency hereby designates,
confirms and ratifies the following persons to execute and
deliver , to witness ( or attest ) , respectively, the Secondary
Amendment to the Participation Agreement , and any related
documents necessary or convenient to the consummation of the
transactions contemplated by such document :
SECTION 4 . The Public Agency continues to be
authorized and directed to fulfill all obligations under the
terms of the Participation Agreement , as amended, including ,
without limitation, any and all exhibits attached thereto,
and made a part thereof .
SECTION 5 . The Public Agency hereby authorizes
its counsel , Claude L. Mullis , Esquire, to deliver an opinion
with respect to the transactions contemplated hereby in the
form attached hereto ass Exhibit B.
SECTION 6 . If any Section of this Resolution is
held invalid, the remainder of this Resolution shall not be
affected thereby .
SECTION 7 . This Resolution shall take effect
immediately.
AUTHENTICATED this 22nd day of May, 1989 .
_
A . ► L ICI
Liam I. Gullifo •
Mayor, Presiding Of .e
Approved as to form and
content:
CERTIFICATION
Title : Claude L. Mullis, City Attorney :i`"1';i5 t) be a t. and care.,
I,'ITNE`:7 T1i ny hand
of'ii U of ALI : tic
ATTEST: rhi Lo3 of
✓' i}� C!or!c
Title: Maureen King, City Clerk
-2-
3c/AB. reso
• EXHIBIT A
(Additional Project description
to be attached]
THIS PROJECT IS TO CONSIST OF A NEW CITY HALL WITH ALL NEW
FURNISHINGS, TO BE LOCATED ON PROPERTY ALREADY OWNED BY THE
CITY ADJACENT TO ITS NEW PUBLIC SAFETY BUILDING AND RUSSELL
PARK; TOTAL ACREAGE IN PROJECT IS ABOUT 10 ACRES
I hereby certify that the above constitutes a
"capital project" within the meaning of Section 163 . 01 ( 7 )
that the Project descriptions and dates of completion are
true and correct , and that with respect to the items listed
in I . above the principal amount of the Loans disbursed for
such items does not exceed the historical cost of the items
less accumulated depreciation.
CITY OF ATLAS BE• H, FLORIDA
By: A A 1 ► 1i.i�
(SEAL) ltle: 'r�
Attest:
Tit e: c i ry CCK