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- M M <br />RESOLUTION 80-5 <br />A RESOLUTION AUTHORIZING TILE ISSUANCE OF GEN -7 -11 -AL <br />OBLIGATION NOTES OF THE SOUTII INDIAN RIFEP. COUNTY <br />FIRE DISTRICT NOT TO EXCEED $500,000.00 TO PAY <br />INITIAL OPEPUATING EXPENSES FOR THE DISTRICT. <br />BE IT RESOLVED BY THE GOVERNING BOARD OF THE SOUTIi IiIDIAt1 <br />RIVER COUNTY FIRE DISTRICT that this Resolution is adopted pursuant <br />to provisions of Section 125.01, Florida Statutes, and Chanter <br />165, Florida Statutes and other applicable provisions of law; and <br />BE IT FURTHER RESOLVED that the SOUTH INDIAN RIVER COUNTY <br />FIRE DISTRICT is hereby authorized to borrow by General Obligation <br />Note, from The First Citrus Bank of Indian River County FIVE <br />HUNDRED THOUSAND DOLLARS ($500,000.00) to be paid back within <br />sixty (60) days from tax revenues that are pledged by the DISTRICT: <br />and <br />BE IT FURTHER RESOLVED that the appropriate officers are <br />authorized to execute the necessary documents, including the <br />General Obligation Note to The First Citrus Bank of Indian River <br />County; and <br />BE IT FURTHER RESOLVED that the funds derived from the <br />General Obligation Note shall be deposited in the DISTRICT <br />account and used solely for operational expenses of the DISTRICT. <br />Said Resolution shall become effective as of the 8th day <br />of October, 1980. <br />SOUTH INDIAN RIVER COUNTY FIRE <br />DISTRICT <br />Y 2 G 4G <br />Charman <br />ATTEST: <br />Secretary <br />OCT 81980 Boa 44 PAGE 855 <br />