A RESOLUTION OF THE VILLAGE OF PINECREST, FLORIDA, SUPPLEMENTING ORDINANCE NUMBER 2020-5, ENACTED ON OCTOBER 13, 2020, WHICH AUTHORIZED THE BORROWING OF MONEY; AUTHORIZING THE ISSUANCE OF ITS $7,921,446.45 CAPITAL IMPROVEMENT REVENUE NOTE, SERIES 2021A, FOR THE PURPOSE OF FINANCING THE CONSTRUCTION AND ACQUISITION OF CERTAIN CAPITAL PROJECTS, AS MORE FULLY DESCRIBED HEREIN; AUTHORIZING THE NEGOTIATED SALE OF SUCH NOTE TO STERLING NATIONAL BANK, PURSUANT TO THE TERMS AND CONDITIONS OF A LOAN AGREEMENT BY AND AMONG THE FLORIDA MUNICIPAL LOAN COUNCIL, THE VILLAGE OF PINECREST, FLORIDA, AND STERLING NATIONAL BANK; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE LOAN AGREEMENT; MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS IN CONNECTION WITH THE ISSUANCE OF SUCH NOTE; AND PROVIDING AN EFFECTIVE DATE.

Committee

Village Council

Introduced

February 3, 2021

On agenda

February 9, 2021