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Ordinance 2011-375
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Ordinance 2011-375
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Last modified
9/10/2014 3:29:03 PM
Creation date
11/15/2011 1:36:00 PM
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CityClerk-Ordinances
Ordinance Number
2011-375
Date (mm/dd/yyyy)
10/20/2011
Description
Issuance of a $10 million revenue bond to refund loan
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<br />Section 9.4. Severabilitv. If any clause, provision or section of this Agreement shall be <br />held illegal or invalid by any court, the invalidity of such clause, provision or section shall not <br />affect any other provisions or sections hereof, and this Agreement shall be construed and <br />enforced to the end that the transactions contemplated hereby be effected and the obligations <br />contemplated hereby be enforced, as if such illegal or invalid clause, provision or section had not <br />been contained herein. <br /> <br />Section 9.5. Term of Af!reement. Except as otherwise specified in this Agreement, <br />this Agreement and all representations, warranties, covenants and agreements contained herein <br />or made in writing by the City in connection herewith shall be in full force and effect from the <br />date hereof and shall continue in effect until as long as the Bond are outstanding. <br /> <br />Section 9.6. Notices. All notices, requests, demands and other communications which <br />are required or may be given under this Agreement shall be in writing and shall be deemed to <br />have been duly given when received if personally delivered; when transmitted if transmitted by <br />telecopy, electronic telephone line facsimile transmission or other similar electronic or digital <br />transmission method (provided customary evidence of receipt is obtained); the day after it is <br />sent, if sent by overnight common carrier service; and five days after it is sent, if mailed, <br />certified mail, return receipt requested, postage prepaid. In each case notice shall be sent to: <br /> <br />If to the City: <br /> <br />City Manager and City Attorney <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />Fax Number: 305-792-1641 <br /> <br />If to the Bank: <br /> <br />SunTrust Bank <br />Government Division <br />8699 NW 36th Street <br />Miami, Florida 33131 <br />Fax Number: 305-597-6618 <br /> <br />or to such other address as either party may have specified in writing to the other using the <br />procedures specified above in this Section 9.6. <br /> <br />Section 9.7. Applicable Law. For purposes of this Agreement, Florida law shall <br />govern the terms of this Agreement. Venue shall be in Miami-Dade County, Florida. <br /> <br />Section 9.8. Bindinf! Effect; Assif!nment. This Agreement shall be binding upon and <br />inure to the benefit of the successors in interest and permitted assigns of the parties. The City <br />shall have no rights to assign any of their rights or obligations hereunder without the prior <br />written consent of the Bank, which consent may be granted, withheld or made subject to <br />conditions in the Bank's sole discretion. <br /> <br />16 <br /> <br />MIA 182, 189,515v6 11-2-11 <br />
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