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� CH5 - 13 <br /> 1o . A . l <br /> l of E. <br /> INTERLOCAL AGREEMENT Ar) / 3 ,. Zo 3 <br /> THIS AGREEMENT made and entered into this 15th day of October, 2013 , by and between the <br /> ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY, a public body corporate and politic <br /> organized and existing under the laws of the State of Florida (hereinafter referred to as the "Escambia <br /> Authority"), and INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of <br /> Florida (hereinafter referred to as the "Participating County") ; <br /> WITNESSETH : <br /> WHEREAS, Part IV of Chapter 159 , Florida Statutes (the "Act ') , authorizes the creation of <br /> housing finance authorities within the State of Florida (the "State") for the purpose of issuing revenue <br /> bonds to assist in relieving the shortage of housing available at prices or rentals which many persons and <br /> families can afford ; and <br /> WHEREAS, the Escambia Authority by Resolution No . 2013 -02 duly adopted on May 14, 2013 <br /> (the "Enabling Resolution") , as amended and supplemented, authorized a plan of finance (the "Plan") , as <br /> permitted by Section 5f. 103 -2(f)(3 ) of the Regulations under the Internal Revenue Code of 1986, as <br /> amended (the "Code"), for the operation of the TBA Program (herein defined) and the issuance from <br /> time to time of not exceeding $ 150, 000, 000 Single Family Mortgage Revenue Bonds (Multi-County <br /> Program) (the "Bonds" or the "Escambia Bonds"), in multiple series (collectively, the "Program") ; and <br /> WHEREAS, the Escambia Authority has indicated that, pursuant to the Plan, it expects to issue <br /> the Bonds from time to time with such particular Series designation as shall be appropriate <br /> in an <br /> aggregate principal amount not exceeding $ 150, 000, 000 (which may also include Bonds, if any, for <br /> which a carryforward allocation has been obtained pursuant to Section 146(f) of the Code), exclusive of <br /> any amounts required for refunding purposes ; and <br /> WHEREAS, pursuant to Sections 143 and 146 of the Code, the amount of new mortgage <br /> revenue bonds which may be issued in each year is limited by a private activity volume cap which has <br /> been established for such purpose within the State; and <br /> WHEREAS, the limitations upon available portions of the private activity volume cap prevents <br /> the separate issuance of qualified mortgage revenue bonds for each county from being feasibly and <br /> economically accomplished ; and <br /> WHEREAS, the Escambia Authority has authorized a sufficient amount of Escambia Bonds to <br /> fund, refund or refinance outstanding obligations, the proceeds of which will be used to finance <br /> a <br /> portion of the anticipated demand during the proposed Origination Period for single family mortgages <br /> ("Mortgage Loans") of both Escambia County and the Participating County, as well as certain other <br /> counties which may also participate in joint bond programs ; and <br /> WHEREAS, the aggregation of mortgage loan demand and the securing of the related amount of <br /> the cumulative State private activity volume cap (the "Allocation Amounts") granted by the State from <br /> August 1 , 2013 , through December 31 , 2017 (the "Authorization Period"), for the purpose of issuing <br /> 1 <br />