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2011-203
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2011-203
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Last modified
2/16/2016 2:25:29 PM
Creation date
10/1/2015 4:31:47 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Interlocal Agreement
Approved Date
09/13/2011
Control Number
2011-203
Agenda Item Number
10.A.4
Entity Name
Escambia County Housing Finance Authority
Subject
Tax Equity Fiscal Responsibility Act Single Family Mortgage Revenue Bon
Alternate Name
TEFRA
Supplemental fields
SmeadsoftID
11283
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Oct// 15 <br /> io . A <br /> aoI ( 0ao3 <br /> INTERLOCAL AGREEMENT <br /> THIS AGREEMENT rnade and entered into this I " day of September, 2011 , by and <br /> between the ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY, a public body <br /> corporate and politic organized and existing under the laws of the State of Florida ('hereinafter <br /> referred to as the "Escambia Authority") , and INDIAN RIVER COUNTY, FLORIDA, a <br /> political subdivision of the State of Florida (hereinafter referred to as the "Participating <br /> County") ; <br /> WITNESSETH: <br /> WHEREAS, Chapter 159 , Part IV, Florida Statutes , (the "Act") authorizes the creation <br /> of housing finance authorities within the State of Florida ( the " State") for the purpose of issuing <br /> revenue bonds to assist in relieving the shortage of housing available at prices or rentals which <br /> many persons and families can afford; and <br /> WHEREAS , the Escambia Authority by a resolution duly adopted on March 8 , 2011 (the <br /> " Enabling Resolution") , as amended and supplemented , authorized a plan of finance, as <br /> permitted by Section 5f. 103 - 2 ( f) ( 3 ) of the Regulations under the Internal Revenue Code of 1986 , <br /> as amended , (the "Plan") for the issuance of not exceeding $ 150 ,000 ,000 Single Family <br /> Mortgage Revenue Bonds (Multi -County Program) (the " Bonds" or the "Escambia Bonds ") in <br /> multiple series ( the "Program ") ; and <br /> WHEREAS , the Escambia Authority has indicated that, pursuant to the Plan , it expects <br /> to issue the Bonds from time to time with such particular Series designations as shall be <br /> appropriate in an aggregate principal amount not exceeding $ 150 ,000, 000, exclusive of any <br /> amounts required for refunding purposes ; and <br /> WHEREAS, pursuant to Sections 143 and 146 of the Internal Revenue Code of 1986 , as <br /> amended (the ' %Code ") , the amount of mortgage revenue bonds which may be issued in each year <br /> is limited by a private activity volume cap which has been established for such purpose within <br /> the State; and <br /> WHEREAS, the limitations upon available portions of the private activity volume cap <br /> prevents the separate issuance of qualified mortgage revenue bonds for each county from being <br /> feasibly and economically accomplished ; and <br /> WHEREAS , the Escambia Authority has authorized a sufficient amount of Escambia <br /> Bonds to fund , refund or refinance outstanding obligations , the proceeds of which will be used to <br /> finance a portion of the anticipated demand during the proposed Origination Period for single <br /> family mortgages ( " Mortgage Loans" ) of both Escambia County and the Participating County, as <br /> well as certain other counties which may also participate in joint bond programs ; and <br /> Ernie Lee Magaha 2170003 <br /> CLERK OF THE CIRCUIT COURT THIS DOCUMENT HAS BEEN <br /> ESCAMBIA COUNTY FLORIDA RECORDED IN THE pUBLIC RECORDS <br /> INST# 2012017163 03, 06 2012 at 11 . 39 AMt3F INDIAN RIVER COUNTY FL <br /> OFF RRC BK : $61 . Pu 1541 - 1547 Gnr. Type : AGM BK : 2551 PG : 140, pagr1 crf 7 <br /> RECORDWG : $61 . 00 10+ 24l"201 "i at 09r37 AM, <br /> 1 <br /> JEFFREY K RARI ON., C1.ERK OF <br /> LOUR I <br />
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