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2004-145
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2004-145
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10/26/2015 5:01:09 AM
Creation date
9/30/2015 4:57:50 PM
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Resolutions
Resolution Number
2004-145
Approved Date
12/07/2004
Agenda Item Number
No data from migration
Archived Roll/Disk#
2746
Supplemental fields
SmeadsoftID
2305
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principal amount not exceeding $150,000,000, exclusive of any amounts required for refunding purposes; <br /> and <br /> WHEREAS, the Indian River Board desires to authorize certain actions as necessary in <br /> connection with participation in the Program and the issuance, sale, authentication and delivery of the <br /> Bonds by entering into an Interlocal Agreement, dated as of December 7, 2004 (the "Interlocal <br /> Agreement"); and <br /> WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (hereinafter <br /> referred to as the "Code") requires public approval of certain private activity bonds and the Plan therefor <br /> by an applicable elected representative or governmental unit following a public hearing and the Indian <br /> River Board constitutes an applicable elected representative or governmental unit; and <br /> WHEREAS, pursuant to Section 147(f) of the Code a public hearing was scheduled before the <br /> Indian River Board on behalf of the Indian River Board, the Escambia Board and the Authority for <br /> December 7, 2004, at 9:00 a.m. or soon thereafter and notice of such hearing was given in the form <br /> required by the Code by publication more than fourteen (14) days prior to such hearing; and <br /> WHEREAS, the Indian River Board, has on December 7, 2004, held the public hearing and <br /> provided at such hearing reasonable opportunity for all interested individuals to express their views, both <br /> orally and in writing, on the issuance of the Bonds; and <br /> WHEREAS, the Indian River Board diligently and conscientiously considered all comments and <br /> concerns expressed by such individuals; and <br /> WHEREAS, the Indian River Board desires to express its approval of.the action to be taken <br /> pursuant to the Enabling Resolution and the Act, and as required by Section 147(f)of the Code; <br /> NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br /> COMMISSIONERS OF INDIAN RIVER COUNTY,FLORIDA: <br /> Section 1. Because of the continuing shortage of affordable single family housing and <br /> capital for investment therein in Indian River County and the continuing impediments to a bond issue to <br /> alleviate such shortages as to single family housing, it is hereby determined that the Indian River Board <br /> consents to the Authority exercising its powers to issue the Bonds and to implement a Plan to provide <br /> capital from sources of funds available to the Authority, including but not limited to a portion of the <br /> proceeds of the Bonds, and proceeds of obligations refunded by the Bonds, to establish a program to <br /> finance Mortgage Loans for single family housing within the statutory boundaries of Indian River County <br /> ("Mortgage Loans"); provided, that the Authority and Indian River County first enter into a written <br /> agreement setting forth the powers, duties and limitations of the Authority as they pertain to the use of <br /> said Bond proceeds within Indian River County and payment of the issuance costs for such Bonds. <br /> Section 2. In furtherance of the purposes set forth in Section 1 hereof the Chairman or Vice- <br /> Chairman and Clerk or Deputy Clerk of the Indian River Board are hereby authorized to execute such <br /> consents, intergovernmental agreements, applications, instruments or other documents as shall be required <br /> to implement participation by the Indian River Board of such Program and to provide for payment of <br /> Indian River County's proportionate share of the costs thereof, including but not limited to the costs of <br /> issuance of such Bonds, all as shall be approved by counsel to Indian River County. <br /> MCL-10/04/04 2 <br /> Rev: 11/03/04-6602-Indian River BCC Reso <br />
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