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NO. 67- 7 <br />BOARD OF COUNTY COMMISS IONERS ° ' RESOLUTION <br />REQUEST TO BOARD OF HIGHWAY SECONDARY FUNDS <br />TRUSTEES FOR THE INVESTMENT OF THE HIGHWAY <br />• SECONDARY TRUST FUNDS IN FUEL TAX ANTICIPATION <br />CERTIFICATES., <br />INDIAN RIVER COUNTY <br />Upon Motion by Commissioner Macdonald 0 seconded <br />by Commissioner McCullers , the following resolution was <br />unanimously adopteds <br />WHEREAS, by Chapter 63-5308 Laws of Florida, 19630 a Board of <br />Highway Secondary Funds Trustees was created to review applications <br />from counties of the State of Florida to determine the desirability, <br />necessity, and fiscal sufficiency for the investment of Highway Sec- <br />ondary Trust Funds for projects of the counties; and <br />WHEREAS, by the Rules and Regulations of the Board of Highway <br />Secondary Funds Trustees preliminary approval has been secured from the <br />State Road Department and a formal resolution by the Board of County <br />Commissioners is necessary to pply to the Board of Trustees of the <br />Highway Secondary Trust Funds for the investment of the ighway Second- <br />ary Trust Funds in fuel tax anticipation certificates to be issued <br />by the State Road Department on behalf of -said county in order to <br />provide funds for the purchase of right of way for primary and secondary <br />roads within the county, or for the construction or reconstruction of <br />primary and secondary roads within the county, and.. <br />WHEREAS, SAID RESOLUTION IS TO BE DIRECTED TO the Chairman of <br />the Board of Highway Secondary Trust Funds Trustees, in care of the. <br />State Road Department, Tallahassee, Florida, in order that there may <br />be initiated action by the Board of Highway Secondary Funds Trustees <br />to determines <br />a. The desirablility of the project, <br />b. The necessity of the project; <br />c. The ability of the borrowing county to repay <br />the loan within five (5) years, and <br />1.0 <br />son10 pang <br />