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Bond proceeds within Indian River County and payment of the issuance costs for such <br /> Bonds. <br /> Section 2. In furtherance of the purposes set forth in Section 1 hereof the <br /> Chairman or Vice-Chairman and Clerk or Deputy Clerk of the Indian River Board are <br /> hereby authorized to execute such consents, intergovernmental agreements, <br /> applications, instruments or other documents as shall be required to implement <br /> participation by the Indian River Board in the Program and to provide for payment of <br /> Indian River County's proportionate share of the costs thereof, including but not <br /> limited to the costs of issuance of such Bonds, all as shall be approved by counsel to <br /> Indian River County. <br /> Section 3. The Interlocal Agreement, in substantially the form attached <br /> hereto as Exhibit A, and made a part hereof, between Indian River County and the <br /> Authority is hereby approved. The officers of Indian River County are hereby <br /> authorized to enter into such Interlocal Agreement on behalf of Indian River County <br /> with such changes not inconsistent herewith as the officers executing same may <br /> approve, such execution and delivery to be conclusive evidence of such approval. The <br /> appropriate officers of Indian River County are hereby further authorized to execute <br /> and deliver such other documents and instruments as may be necessary to implement <br /> such Interlocal Agreement, including, without limitation, application for up to the <br /> maximum available private activity bond volume allocations pursuant to the Act, for <br /> the purposes set forth in the Interlocal Agreement. <br /> Section 4. The Indian River Board hereby approves, within the meaning of <br /> Section 147(f) of the Code, the Authority's Plan and the issuance by the Authority from <br /> time to time of not exceeding $150,000,000 Single Family Mortgage Revenue Bonds <br /> Multi-County Program, initially designated as Series 2002, for funding the Authority's <br /> Program for Mortgage Loans, and such other action to be taken pursuant to the <br /> Enabling Resolution or the Act. <br /> Section 5. The principal of and premium, if any, and interest on the Bonds <br /> and all payments required under the proposed financing agreements, including the <br /> Interlocal Agreement, shall be payable solely by the Authority from the proceeds <br /> derived by the Authority under the proposed financing agreements, and Indian River <br /> County shall never be required to (i) levy ad valorem taxes on any property within its <br /> territorial limits to pay the principal of and premium, if any, and interest on the Bonds <br /> or to make any other payments provided for under the proposed financing agreements, <br /> or (ii) pay the same from any funds of Indian River County whatsoever. Adoption of <br /> this Resolution does not authorize or commit the expenditure of any funds of Indian <br /> River County to pay the costs of issuance of such Bonds. The Bonds are limited, <br /> special obligations and will not constitute a debt of the State of Florida, Indian River res <br /> County, Escambia County, or other participating Counties or the Authority or other -�- <br /> participating Housing Finance Authorities, but will be payable solely from payments <br /> made from the revenues generated from the Program. W <br /> c 37 <br /> -v <br /> Section 6. All resolutions or parts thereof of the Indian River Board in <br /> conflict with the provisions herein contained are, to the extent of such conflict, hereby <br /> Jnsuperseded and repealed. <br /> MCL-09/64/01-6472-indrivres 3 <br />