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`'. INDIAN RIVER COUNTY <br />'. ORDINANCE NO. 77-19 <br />AUG .3 1977 <br />1 <br />AN ORDINANCE RELATING TO THE ACQUISITION, CON- <br />STRUCTION, FURNISHING AND EQUIPPING OF COUNTY <br />CAPITAL PROJECTS IA INDIAV RIVER COUNTY, FLORIDA: <br />AUTHORIZING THE ISSUA_JCE OF BONDS BY THE BOARD OF <br />COUNTY COIDIISSIONERS OF INDIAN RIVER CODUTY, <br />FLORIDA, TO FINANCE TIE; COST OF SUCH PROJECTS, <br />PAYABLE FROM REVENUES, IF ANY, DERIVED FROM SAID <br />PROJECTS A14D ALSO PAYABLE FROM A PORTION OF THE <br />STATE REVENUE SHARING TRUST FUNDS RECEIVED BY <br />INDI1lN RIVER COUNTY OR OTHER FUNDS OF THE COUNTY <br />DERIVED FROM SOURCES OTHER THAN AD VALOREM.. TAKES, <br />PROVIDING THE RETHOD BY WHICH THIS ORDLIANCE SH2UL <br />BECOME EFFECTIVE. <br />WHEREAS, pursuant to Article VIII, Section 1 of the Con- <br />stitution of the State of Florida and Section 125.01 et seq., Florida <br />Statutes, the Board of County Commissioners of Indian River County, <br />Florida, has all powers of local self government to perform county <br />functions and to render county services in a manner not inconsistent <br />with general or special law and such power may be exercised by the <br />enactment of county ordinances; and <br />14HEREAS, it is necessary for the public health, safety and <br />general welfare of the county and its citizens that provisions be <br />made for the acquisition and construction of capital projects which <br />serve a county purpose and for financing the cost of such projects; <br />14011, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIXIN RIVER COUNTY, FLORIDA: <br />SECTION 1. The Board of County Commissioners of Indian <br />River County, Florida (hereinafter referred to as the "board") is <br />hereby authorized to acquire, construct, furnish and equip county <br />capital projects (all hereinafter called "projects"). <br />SECTION 2. To pay the cost of such projects, as above <br />described, or to refund any bonds issued for such purposes, the <br />board is authorized to issue bonds from time to time (hereinafter <br />referred to as "bonds").Such bonds may he in coupon form, in such <br />denomination or denominations, bear interest at such rate or rates <br />not exceeding seven and one-half per centum (7 1/2%) per annum and <br />shall mature at such time or times not exceeding forty (40) years <br />from their date or dates as may be determined by the board. The <br />bonds may be made redeemable before maturity, at the option of the <br />board, at such price or prices and under such terms and conditions <br />as may be fixed by the board prior to their issuance. The board <br />+ BOOK 30 PmE 250 <br />