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RESOLUTION No. 79-10 <br />WITNESSETH: <br />WHEREAS, the State of Florida has recognized a critical shortage of <br />affordable housing throughout the State for low to moderate income citizens; <br />and <br />WHEREAS, Chapter 78-89, Laws of Florida, provides authority for each <br />county to create a Housing Finance Authority with powers to attract private <br />capital to satisfy such shortage; and <br />WHEREAS, Indian River County desires to immediately proceed to evaluate <br />and determine its need to establish a County Housing Finance Authority; and <br />WHEREAS, William R. Hough & Co. has considerable experience and is <br />eminently qualified in local goverment financing with a long, successful <br />record of helping Florida communities solve their financial needs; and <br />WHEREAS, William R. Hough & Co. is thoroughly familiar with the Florida <br />Housing Finance Authority Act and the Internal Revenue Code of 1954, as <br />amended, which together provide'a means for the county to provide financing of <br />mortgage loans through the issuance of tax-exempt bonds; and <br />WHEREAS, William R. Hough & Co. has the depth of expertise in this field <br />of financing to insure the prompt implementation of the desired program; and <br />WHEREAS, William R. Hough & Co. proposes to diligently and professionally <br />assist the .County staff and others designated to work in this program to <br />specifically identify the shortages of housing and capital investments for <br />such housing in Indian.River County; <br />NOW THEREFORE, be it resolved that: <br />William R. Hough & Co. is hereby authorized to proceed <br />to coordinate and assist in the efforts of the County <br />agencies and others in determining the shortage of <br />affordable housing and of capital for investment in such <br />housing in Indian River County. It is specifically <br />understood that the County shall not be financially or <br />otherwise obligated to William R. Hough & Co. for its <br />assistance in this undertaking. <br />ATTEST: <br />Freda Wright, <br />Adopted: January 10, 1979 <br />JAN 101979 <br />BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA <br />i iam o tce,Jr., airman <br />BOOK 38 PAGE 412 <br />