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RESOLUTION NO. 2007-082 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, CANCELING THE OCTOBER 9, 2007 SPECIAL ELECTION CALLED FOR BY RESOLUTION NO. 2007-072 TO APPROVE THE ISSUANCE OF $40,000,000 IN GENERAL OBLIGATION BONDS FOR PIPER AIRCRAFT ECONOMIC DEVELOPMENT PURPOSES AND RESCINDING RESOLUTION NO. 2007-072. WHEREAS, on July 10, 2007, the Board of County Commissioners of Indian River County passed Resolution No. 2007-072; and WHEREAS, Section 4 of that Resolution directed the Supervisor of Elections to hold a bond referendum October 9, 2007 to determine whether or not $40,000,000 of General Obligation Bonds should be issued to finance the Project (Piper Aircraft economic development); and WHEREAS, Piper subsequently ran a full-page advertisement in the Vero Beach Press Journal stating they would decline any revenue authorized by the bond referendum and opposing the holding of the special election; and WHEREAS, the Board of County Commissioners held a Special Call Meeting to discuss the "Piper" referendum on July 20, 2007, at which time the Commissioners unanimously voted to cancel the October 9, 2007 bond referendum; and NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, THAT: (1) The Supervisor of Elections is directed to cancel the bond referendum called for by Resolution No. 2007-072. (2) The Clerk to the Board of County Commissioners is directed to provide a certified copy of this Resolution to the Supervisor of Elections. (3) Resolution No. 2007-072 is hereby rescinded in its entirety. This Resolution was moved for adoption by Commissioner Bowden, and the motion was seconded by Commissioner O'Bryan, and, upon being put to a vote, the vote was as follows: Chairman Gary C. Wheeler Aye Vice Chairman Sandra L. Bowden Aye Commissioner Wesley S. Davis Aye Commissioner Peter D. O'Bryan Aye Commissioner Joseph E. Flescher Aye