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OFFICE IN THE RECORDS OF <br /> WU� An04tN'-Y S JEF'=REY K.BARTON1NDIA' i R.1`!" ':"- Y CLERK CIRCUIT COURT <br /> I;,0 7s Stroot INDIAN RIVER CO.,FLA. <br /> Toro Beach, Florida 3960. <br /> RESOLUTION NO.2002- 065 _ <br /> W <br /> A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF co <br /> INDIAN RIVER COUNTY, FLORIDA, AUTHORIZING THE ESCAMBIA C) <br /> COUNTY HOUSING FINANCE AUTHORITY TO OPERATE WITHIN THE --j <br /> BOUNDARIES OF INDIAN RIVER COUNTY, FLORIDA, TO FINANCE N <br /> QUALIFYING SINGLE FAMILY .MORTGAGE LOANS ON BEHALF OF <br /> INDIAN RIVER COUNTY, FLORIDA; AUTHORIZING THE BOARD OF <br /> COUNTY COMMISSIONERS TO ENTER INTO AGREEMENTS WITH <br /> THE ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY AND TO <br /> EXECUTE AND DELIVER CERTAIN DOCUMENTS AND INSTRUMENTS <br /> IN CONNECTION "Tr APPROVING A FORM OF <br /> INTERLOCAL•AGREEMENT; APPROVING THE ISSUANCE BY THE <br /> ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY OF NOT N <br /> EXCEEDING $150,000,000 SINGLE FAMILY MORTGAGE REVENUE C/> <br /> BONDS, SERIES 2003A (MULTI-COUNTY PROGRAM), PURSUANT TO .!``.c <br /> SECTION 147(11) OF THE INTERNAL REVENUE CODE OF 1986, AS --. <br /> AMENDED; PROVIDING THAT SUCH BONDS CONSTITUTE LIMITED, <br /> SPECIAL OBLIGATIONS; AND PROVIDING AN EFFECTIVE DATE. <br /> WHEREAS, Chapter 159, Part IV, Florida Statutes, (the "Act") authorized <br /> counties to create housing finance authorities to exercise powers of the Act within ao <br /> their boundaries or outside their boundaries with the consent of the governing body of <br /> the territory outside their area of operation; and <br /> WHEREAS, the Board of County Commissioners of Escambia County, Florida, <br /> (the "Escambia Board") on May 29, 1980, adopted Ordinance No. 80-12, by which it <br /> created the Escambia County Housing Finance Authority (the "Authority") and <br /> authorized the Authority to exercise all powers under the Act; and <br /> WHEREAS, there is no housing finance authority currently operating in Indian <br /> River County, Florida ("Indian River County"); and <br /> WHEREAS, pursuant to the Act, the Board of County Commissioners of Indian <br /> River County, Florida, (the "Indian River Board") has found a shortage of affordable <br /> housing and capital for investment therein and a need for a housing finance authority <br /> to function in Indian River County; and <br /> WHEREAS, it is not practicable at this time under existing Florida and Federal <br /> laws and regulations for a single local agency to issue its bonds for the purpose of <br /> implementing a single family housing program, although the shortage of such single <br /> family housing and capital for investment therein ig continuing in Indian River .� <br /> County; and tJ1 <br /> N <br /> WHEREAS, the Authority by resolution duly adopted on June 13, 2000 (the o <br /> "Enabling Resolution"), authorized a plan of finance (the "Plan") for the issuance from <br /> time to time of not exceeding $400,000,000 Single Family Mortgage Revenue Bonds <br /> (Multi-County Program) (the "Program"); and -- <br /> MCL-06/28/02-6519-indrivres 1 <br />