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A TRUE COPY
<br />CERTIFICATION ON LAST PAGE
<br />J.K. BARTON, CLERK
<br />INTERLOCAL AGREEMENT
<br />THIS INTERLOCAL AGREEMENT (the "Agreement") is dated as of April 1,
<br />2008, and is entered into between PALM BEACH COUNTY, FLORIDA ("Palm Beach
<br />County"), a political subdivision of the State of Florida, and INDIAN RIVER COUNTY,
<br />FLORIDA (``Indian River County"), a political subdivision of the State of Florida;
<br />WITNESSETH:
<br />WHEREAS, pursuant to Chapter 125 and Chapter 159, Part II, Florida Statutes,
<br />Palm Beach County and Indian River County are authorized to issue bonds to finance or
<br />refinance the acquisition, construction and equipping of "projects," as defined in Part II of
<br />Chapter 159, Florida Statutes, including, without limitation, social service center facilities; and
<br />WHEREAS, Palm Beach County and Indian River County each constitutes a
<br />"public agency" within the meaning of Section 163.01, Florida Statutes, as amended (the
<br />'`Interlocal Act"), and are each authorized under the Interlocal Act to enter into interlocal
<br />agreements providing for them to jointly exercise any power, privilege or authority which each
<br />of them could exercise separately; and
<br />WHEREAS, the Borrower has requested that Palm Beach County and Indian
<br />River County enter into this Agreement to authorize Palm Beach County to issue not exceeding
<br />$17,000,000 in aggregate principal amount of its Variable Rate Demand Revenue Bonds (The
<br />Children's Home Society of Florida Project), Series 2008 (the "Series 2008 Bonds") to finance
<br />social service center facilities to be owned and operated by The Children's Home Society of
<br />Florida, a Florida not for profit corporation (the "Borrower"), in Palm Beach County, Indian
<br />River County, Collier County, Jacksonville and Tallahassee (collectively, the "2008 Projects"),
<br />with the proceeds of approximately $4,300,000 in principal amount of said Series 2008 Bonds to
<br />be applied to finance the portion of the 2008 Projects located in Indian River County, such
<br />financing to result in significant cost savings to the Borrower over the issuance and sale of
<br />separate bonds by Palm Beach County and Indian River County in order to finance the 2008
<br />Projects; and
<br />WHEREAS, Palm Beach County and Indian River County have agreed to enter
<br />into this Agreement for the purposes stated above; and
<br />WHEREAS, on March 11, 2008, the Board of County Commissioners of Palm
<br />Beach County approved the issuance of the Series 2008 Bonds, the application of the proceeds
<br />thereof and the execution and delivery of this Agreement, and following a duly noticed public
<br />hearing held on February_ 5, 2008, for the purpose of giving all interested persons an opportunity
<br />to express their views, either orally or in writing, on the proposed issuance of the Series 2008
<br />Bonds, the Board of County Commissioners of Palm Beach County, Florida, which has
<br />jurisdiction for purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended,
<br />over the area in which those portions of the 2008 Projects to be financed or refinanced in Palm
<br />Beach County, Florida will be located, approved the issuance of the Series 2008 Bonds and the
<br />application of the proceeds thereof; and
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