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- <br />a <br />tt <br />-2- <br />� Section 3. The applicant has and-will-have revenue or <br />other funds sufficient to repay the loan in the prescribed time <br />j' <br />�$ period, as required by Subsection 17-15.04(1) (e); Florida <br />Administrative code. <br />6 <br />Section 4. The applicant will 'apply and use any funds <br />received from the sewage treatment revolving loan for the <br />purposes for which they are furnished and will render such <br />accountings of suchfunds as may be required by the Department. <br />1 <br />Section 5. The purpose or purposes for which the funds <br />F <br />obtained from the sewage treatment revolving loan will be used <br />are: <br />To provide interim financing for acquiring lands and <br />i <br />. <br />constructing sewage treatment facilities in the eastern half of <br />Indian River County. <br />i <br />Section.6. The interest payments to be made by the appli- <br />cant under the loan agreement with the Department shall.be at <br />the same rate as that paid on the last bonds sold pursuant to <br />, <br />. Article VII, Section 14, Florida Constitution, or five per cent <br />(5%), whichever is less; provided, however, the interest rate <br />during the first twelve (12) months of any loan shall be one <br />half of the above determined rate. - <br />Section 7. The facts and representations made in the <br />application submitted to the Department relating to the subject <br />j <br />matter of the resolution are made a part hereof by reference. <br />j <br />1 <br />Section 8. All prior resolutions relating to the subject <br />i <br />� matter of this resolution are amended to conform to this <br />i` resolution to the extent of any inconsistencies with it, and <br />s <br />such prior Xesolutions shall remain in full force and effect <br />iexcept as so amended. <br />I, <br />j -20- <br />JUN 20 197 eox �.7 Fac .6 <br />