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RESOLUTION NO. 2001-043 <br /> construction and equipping a multifamily residential rental apartment project,comprised of The Palms at <br /> Vero Beach which will consist of 260 residential units to be occupied by persons of low,moderate and <br /> middle income,located at the Northwest corner of Indian River Blvd.and 12' Street,Vero Beach,Florida <br /> (the"Project"),(ii)fund a debt service reserve fund for the Bonds and(iii)pay a portion of the costs of <br /> issuance of the Bonds; and <br /> WHEREAS,the Board conducted a public hearing on April 10,2001,notice of which hearing <br /> was published on March 22,2001,in the Press-Journal(a copy of which notice is attached hereto as <br /> Exhibit"A"and incorporated herein),for the purpose of considering the issuance of the Bonds by Florida <br /> Housing on behalf ofitself and the County,in accordance with the requirements of Section 147(f)of the <br /> Internal Revenue Code of 1986,as amended(the"Code"). Said public hearing disclosed no reason why <br /> the Bonds should not be issued; and <br /> WHEREAS,Section 147(f)of the Code requires approval of the issuance of the Bonds by the <br /> Board as the"applicable elected representative"under Section 147(f)after a public hearing following <br /> reasonable public notice; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br /> COMMISSIONERS OF INDIAN RIVER COUNTY,FLORIDA, as follows: <br /> SECTION 1. The Board,pursuant to, and in accordance with, the requirements set forth in <br /> Section 147(0 of the Code,hereby approves the issuance of the Bonds by Florida Housing on behalf of <br /> the County and Florida Housing.The Board has found and determined and hereby declares that it is in the <br /> best interest of the County to enter into an Interlocal Agreement with Florida Housing. <br /> 2 <br />