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DISCUSSION AROSE ON THE LOAN RESOLUTION SHOWING -AN AMOUNT- -
<br />OF $6,325,840, WHICH WOULD BE INCONSISTENT IN THE EVENT WE WERE
<br />GRANTED THE ADDITIONAL $500,000 NOW BEING APPLIED FOR, AND'MR. ENG
<br />FELT IT WOULD BE BEST TO LEAVE THAT RESOLUTION AS IT IS SINCE IT
<br />ALWAYS CAN BE AMENDED OR RESCINDED.
<br />ON MOTION BY COMMISSIONER WODTKE, SECONDED BY COMMISSIONER
<br />Loy, THE BOARD UNANIMOUSLY ADOPTED RESOLUTION N0. 80-10.
<br />r Positron 5 i.
<br />USDA -Fin l iA
<br />Form I+mHA 442-47 LOAN RESOLUTION 80-10
<br />(Rev. 7-30-75) (Public I3odies)
<br />BOARD
<br />A RESOLUTION OF THE ------------------------------ _------- ._.....
<br />.
<br />O1' T111: INDIAN' RIVER COUNTY CO1�uNI SS ION
<br />-.. -.-...-----------------
<br />AUfI101,IZING ANO PROVIDING FOR THE INk-11TRI:.ENCE OF INDEBTFI)NE.SS FOR TITE PURi'O`E ,tl:
<br />PROV11_ R,'G A PORTION OFTHE COST OF ACQUIRING, CONSTRUCTING, ENLARGING, IMPROVING, AND 01?.
<br />EXTENDING ITS 3211t-- Co'.zrit .Wdtar-
<br />_ - ----------
<br />FACILITY TO SERVE AN AR A LA1WFC- I, EVITI� N ITS IURIGICTION TG SERVE.
<br />'Ja1nCt t7 OLli1 V i�CIJUJIIsc1onarS O Indian Rivcr
<br />WHEREAS, it is necessary for the CatantY, Flaridd........................................................................*--.-..._ _....._-.._--.
<br />{Public Body)
<br />(herein after called association) to raise a portion of the cost of such undertaking by issuance of its bonds in the principal
<br />amount of------- $6,.325080
<br />pursuant to the provisions of -- ghAP'i ..
<br />WHERLAS, the association Intends to obtain assistance from the farmers Nome Administration, United States Department
<br />of Agriculture, (herein called the Government) acting under the provisions of the Consolidated Farm and Rural Development
<br />Act (7 U.S.C. 1921 et seq.) in the planning, financing, and supervision of such undertaking and to purchasing of bone's
<br />Iawfully issued, in the event that no other acceptable purchaser for such bonds is found by the association:
<br />NOW THEREFORE, in consideration of the premises the association hereby resolves:
<br />1. To have prepared on its behalf and to adopt an ordinance or resolution for the issuance of its bonds and containim,
<br />such items and in such forms as are required by STATE statutes and as are agreeable and acceptable to the
<br />Government.
<br />2. To refinance the unpaid balance, in whole or in part, of its bonds upon the request of the Government if at
<br />any time it shalt appear to the Government that the associ3tion is able to refinance its bunds by obtainina loo t
<br />for such purposes from responsible cooperative or private sources at reasonable rates and terms for loans for similar
<br />purposes and periods of time as required by section 333(c) of said Consolidated farm and Rural Development Act
<br />(7 U.S.C. 1933(c)).
<br />3. To provide for, execute, and comply with Form Frt11A 1004, "Nondiscrimination Afreotnent"; and Form
<br />FtnHA 400-1, "Equal Opportunity Agreement", includin, an "F.qual Opportunity Clause", which clause is to be in-
<br />corporated in, or attached as a rider to, each construction contract and subcontract invulvin, in excess of S10,000.
<br />4. To indemnify the Government for any payments n:atk or loss,as suffered by the Government on behalf of' the
<br />association.
<br />5. That upon dofa:tlt in the payments of any principal and accrued interest on the bonds or in the ivrformance of ars
<br />covenant or agreement contained herein or in the instruments incident to making or insuring; the loan, the Govern-
<br />ment, at its option may (a) declare the entire principal :unount then outstanding and aocrued iettcrest immediately
<br />due and payable, (b) for the account of the association incur and pay reasonable expenses for :`pair, maintename,
<br />and operation of the facility and such other reasonable expenses as may be necessary to cure the cause of default,
<br />and/or (c) take possession of the facility, repair, tn3intaia, and oix;rate or rent it. Default under the provisions, (it'
<br />this Resolution or any instrument incident to the inaking or insuring of the loan may be construed by the Govern-
<br />utent to constitute default under any other instrument held by the Government and executed or assumed by the
<br />association, and default under any such instrument may be construed by the Government to constitute default
<br />hereunder.
<br />6. Not to sell, transfer, lease, or otherwise encumber the facility or any portion thereof, or interest therein, not permit
<br />others to do so, without the prior written consent of the Cove;rntnent.
<br />7. Not to borrow any money from any soarce, enter into any contract or agreement, or incur any other liabilities in
<br />connection with making enlagrements, improvements or extensions to, or for any other purpose in connection
<br />with, the facility (exclusive of normal maintenance) without the prior written consent of the Government.
<br />R. To place the proceeds of the bonds on deposit in an account, in a bank, and in a manner approved by the Government.
<br />JAN 9980 eooKAG.ieA14 �� tHA 442-47 (Rev. 7-30-75)
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