748-17 Supplemental Resolution Infrastructure Sales Surtax Revenue Bond (City Hall Project), Series 2017

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RESOLUTION NO. 748-17 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ZEPHYRHILLS, FLORIDA SUPPLEMENTING A RESOLUTION ADOPTED ON EVEN DATE HEREOF TO FIX CERTAIN DETAILS IN CONNECTION WITH THE ISSUANCE OF ITS $7,471,000 INFRASTRUCTURE SALES SURTAX REVENUE BOND (CITY HALL PROJECT), SERIES 2017; PROVIDING A COVENANT TO BUDGET, APPROPRIATE AND DEPOSIT LEGALLY AVAILABLE NON-AD VALOREM REVENUES OF THE ISSUER AS ADDITIONAL SECURITY FOR SUCH BOND; PROVIDING FOR OTHER COVENANTS WITH RESPECT TO THE BONDHOLDER; DESIGNATING SUCH BOND AS A "QUALIFIED TAX-EXEMPT OBLIGATION"; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION THEREWITH;AND PROVIDING FOR AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ZEPHYRHILLS, FLORIDA, as follows: Section 1. Authority for this Resolution. This Resolution is a "Supplemental Resolution" adopted pursuant to a resolution adopted by the City Council of the Issuer on even date herewith relating to the hereinafter defined Series 2017 Bond (the "Master Resolution") and the Act as such term is defined in the Master Resolution. The Master Resolution as supplemented hereby means the "Resolution". Section 2. Definitions. Unless otherwise defined in the Master Resolution, the following words and phrases shall have the following meanings when used herein: "Authorized Denominations" means a minimum denomination of $100,000 and $1,000 integrals in excess thereof, or the principal amount outstanding of such Bond if less than $100,000 remains outstanding. "Business Day" means any day except any Saturday or Sunday or day on which the Principal Office of the Holder of the Series 2017 Bond is closed. "Code"means the Internal Revenue Code of 1986, as amended from time to time, and the applicable rules and regulations promulgated thereunder. "Maturity Date"means October 1, 2032,unless earlier redeemed. "Non-Ad Valorem Revenues" means all revenues of the Issuer not derived from ad valorem taxation, and which are lawfully available to pay debt service on the Series 2017 Bond. "Original Purchaser" means JPMorgan Chase Bank, N.A., the original Holder of the Series 2017 Bond. "Principal Office" means, with respect to the Original Purchaser, the office located JPMorgan Chase Bank, N.A., 4919 Memorial Highway, Floor 01, Tampa, Florida 33634-7509, or such other office as the Holder of the Series 2017 Bond may designate to the Issuer in writing. "Series 2017 Bond"means the Series 2017 Bond authorized by the Resolution. Section 3. Findings. (A) The Issuer has received an offer from the Original Purchaser to purchase the Series 2017 Bond. 1