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County Administrator Joseph Baird reminded the Board that the County has <br />participated in this program for many years, and he explained how the program enables first-time <br />homeowners of moderate income to purchase a home at a lower interest rate. The program is <br />designed for single family, attached or detached homes, condos, and manufactured homes. <br />The Chairman opened the public hearing. There were no speakers and the Chairman <br />closed the public hearing. <br />ON MOTION by Vice Chair Bowden, SECONDED by <br />Commissioner Flescher, the Board unanimously approved <br />Resolution 2007-137, authorizing the Escambia County <br />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 Indian <br />River County, Florida; authorizing the Board of County <br />Commissioners to enter into agreements with the Escambia <br />County Housing Finance Authority and to execute and <br />deliver certain documents and instruments in connection <br />therewith; approving a form of Interlocal Agreement; <br />approving the issuance by the Escambia County Housing <br />Finance Authority of not exceeding $150,000,000.00 single <br />family Mortgage Revenue Bonds, pursuant to Section <br />147(f) of the Internal Revenue Code of 1986, as amended; <br />providing that such bonds constitute limited, special <br />obligations; and providing an effective date. <br />9.B. PUBLIC DISCUSSION ITEMS <br />October 9, 2007 14 <br />