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r w <br /> v � . <br /> RESOLUTION NO. 2003- 028 <br /> A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS <br /> OF INDIAN RIVER COUNTY, FLORIDA, AUTHORIZING THE <br /> COUNTY ADMINISTRATOR TO EXECUTE CERTAIN CASH <br /> DEPOSIT AND ESCROW AGREEMENTS ON BEHALF OF THE <br /> BOARD OF COUNTY COMMISSIONERS. <br /> WHEREAS, developers in effectuating the development of properties within Indian River <br /> County are required to provide financial security in the form of a Letter of Credit, Performance <br /> Bond, or cash for a period of one (1) year to support the maintenance of any utilities dedicated <br /> to the County; and <br /> WHEREAS, when the developer tenders cash, the County holds these funds in escrow <br /> for a period of one (1) year by entering into a Cash Deposit and Escrow Agreement <br /> ("Agreement') with the developer in substantially the form attached hereto as Exhibit "A" and <br /> incorporated herein in its entirety by this reference; and <br /> WHEREAS, it is in the best interests of developers and the County to be able to handle <br /> this matter expeditiously; and <br /> WHEREAS, Section 101.05 of The Code of Indian River County, Florida, allows the <br /> Board of County Commissioners ("Board") to authorize the County Administrator, or his <br /> designee, to sign the Agreement on behalf of the Board; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF <br /> INDIAN RIVER COUNTY, FLORIDA, that the Board hereby authorizes the County <br /> Administrator, or his designee, to execute the Agreement on its behalf, provided that it is in <br /> substantially the form attached as Exhibit "A" and contains the signatures of the County <br /> Attorney and the Director or Assistant Director of the Department of Utility Services. <br /> The resolution was moved for adoption by Commissioner Adams , and the <br /> motion was seconded by Commissioner Neuberger , and, upon being put to a vote, <br /> the vote was as follows: <br /> Chairman Kenneth R. Macht Aye <br /> Vice Chairman Carohine D Ginn Aye <br /> Commissioner`Arthur=R: Nelaberger Aye <br /> CommisslonerThomas B. Lowther Aye <br /> t 3 .CommisslonerrFran t Adams Aye <br /> tt ,j`tYI O��'YIY <br /> The hair 9rnanl .thereupondeclared the resolution duly passed P assed and adopted this 11th <br /> day of March, 2003 <br /> r <br /> E_ - INDIAN RIVER COUNTY <br /> by its B r of Cou ty mmissioners <br /> Atter . Barton, Cl rk <br /> . i By <br /> enneth R. Macht, Chairman <br /> Lj <br /> Deputy,Oerk-;,�.. <br /> APPROVED AS TO fiORM <br /> AN GAL SUFFlCI CY <br /> ASSISTANT'BOUNTY ATTO NEY <br />