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B <br /> RESOLUTION NO. 2004-145 <br /> A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br /> INDIAN RIVER COUNTY, FLORIDA, AUTHORIZING THE ESCAMBIA <br /> COUNTY HOUSING FINANCE AUTHORITY TO OPERATE WITHIN THE <br /> BOUNDARIES OF INDIAN RIVER COUNTY, FLORIDA, TO FINANCE <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 THE <br /> ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY AND TO EXECUTE <br /> AND DELIVER ,CERTAIN DOCUMENTS AND INSTRUMENTS IN <br /> CONNECTION THEREWITH; APPROVING A FORM OF INTERLOCAL <br /> AGREEMENT; APPROVING THE ISSUANCE BY THE ESCAMBIA COUNTY <br /> HOUSING FINANCE AUTHORITY OF NOT EXCEEDING $150,000,000 <br /> SINGLE FAMILY MORTGAGE REVENUE BONDS, SERIES 2005 (MULTI- <br /> COUNTY PROGRAM), PURSUANT TO SECTION 147(1) OF THE INTERNAL <br /> REVENUE CODE OF 1986, AS AMENDED; PROVIDING THAT SUCH BONDS <br /> CONSTITUTE LIMITED, SPECIAL OBLIGATIONS; AND PROVIDING AN <br /> EFFECTIVE DATE. <br /> WHEREAS, Chapter 159, Part IV, Florida Statutes, (the "Act") authorized counties to create <br /> housing finance authorities to exercise powers of the Act within their boundaries or outside their <br /> boundaries with the consent of the governing body of the territory outside their area of operation; and <br /> WHEREAS, the Board of County Commissioners of Escambia County, Florida, (the "Escambia <br /> Board") on May 29, 1980, enacted Ordinance No. 80-12 and on March 20, 2003, the Escambia Board <br /> enacted Ordinance 2003-8 (collectively, the "Ordinance"), creating the Escambia County Housing <br /> Finance Authority (the "Authority") and authorized the Authority to exercise all powers under the Act <br /> subject to approval by the Escambia Board as a condition precedent to the effectiveness of the certain <br /> actions of the Authority; and <br /> WHEREAS, there is no housing finance authority currently operating in Indian River County, <br /> Florida("Indian River County"); and <br /> WHEREAS, pursuant to the Act, the Board of County Commissioners of Indian River County, <br /> Florida, (the "Indian River Board") has found a shortage of affordable housing and capital for investment <br /> therein and a need for a housing finance authority to function in Indian River County; and <br /> WHEREAS, it is not practicable at this time under existing Florida and Federal laws and <br /> regulations for a single local agency to issue its mortgage revenue bonds for the purpose of implementing <br /> a single family housing program, although the shortage of such single family housing and capital for <br /> investment therein is continuing in Indian River County; and <br /> WHEREAS, the Authority by a resolution duly adopted on May 14, 2002 (the "Enabling <br /> Resolution"), as amended and supplemented, authorized a plan of finance (the "Plan") for the issuance <br /> from time to time of not exceeding $400,000,000 Single Family Mortgage Revenue Bonds (Multi-County <br /> Program) (the "Program"); and <br /> WHEREAS, the Authority has indicated that it expects to issue its Single Family Mortgage <br /> Revenue Bonds, Series 2005 (Multi-County Program) (the "Escambia Bonds" or the "Bonds") in a <br /> MCL-10/04/04 1 <br /> Rev: 11/03/04-6602-Indian River BCC Reso <br />