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ORDINANCE NO. 79-17 <br />ORDINANCE CREATING THE HOUSING FINANCE AUTHORITY OF <br />INDIAN RIVER COUNTY, FLORIDA; PROVIDING A DECLARATION <br />OF NEED; PROVIDING FOR THE EXERCISE OF ALL POWERS <br />AUTHORIZED BY THE FLORIDA HOUSING FINANCE AUTHORITY <br />LAW; PROVIDING FOR OPERATIONS WITHIN AND WITHOUT THE <br />COUNTY; PROVIDING FOR THE ISSUANCE OF REVENUE BONDS; <br />PROVIDING FOR THE ORGANIZATION OF THE AUTHORITY; PRO- <br />VIDING FOR THE APPOINTMENT OF MEMBERS; PROVIDING FOR <br />THE ALTERATION OF THE AUTHORITY'S ACTIVITIES BY THE <br />COUNTY; PROVIDING SEVERABILITY, INCLUSION IN THE CODE <br />AND AN EFFECTIVE DATE. <br />WHEREAS, the Legislature of the State of Florida enacted the "Florida <br />Housing Finance Authority Law", codified as Chapter 78-89, Laws of Florida, <br />(the "Act") during the legislative session held during 1978, in which the Leg- <br />islature found and declared that: <br />(1) Within this state there is a shortage of housing <br />available a' prices or rentals which many per- <br />sons and families can afford and a shortage of <br />capital for investment in such housing. This <br />shortage constitutes a threat to the health, <br />safety, morals, and welfare of the residents of <br />the state, deprives the state of an adequate tax <br />base, and causes the state to make excessive ex- <br />penditures for crime prevention and control, <br />public health and safety, fire and accident pro- <br />tection, and other public services and facili- <br />ties. <br />(2) Such shortage cannot be relieved except through <br />the encouragement of investment by private en- <br />terprise and the stimulation of construction and <br />rehabilitation of housing through the use of <br />public financing. <br />The financing, acquisition, construction, recon- <br />struction, and rehabilitation of housing and of <br />the real and personal property and other facili- <br />ties necessary, incidental, and appurtenant <br />thereto are exclusively public uses and purposes <br />for which public money may be spent, advanced, <br />loaned, or granted and are governmental func- <br />tions of public concern; and <br />(3) <br />WHEREAS, the Act authorizes each county in the state to create by ordi- <br />nance a separate public body corporate.and politic to be known as the "Housing <br />Finance Authority" of the county for which it was created; and <br />WHEREAS, pursuant to the Act, a housing finance authority may not trans- <br />act any business or exercise any powers under the Act until the governing body <br />.of the county for which such housing finance authority is created passes a <br />'resolution declaring the need for a housing finance authority to function to <br />alleviate a shortage of housing and capital for investment in housing in its <br />STATE OF FLORIDA <br />area of operation; and INDIAN RIVER COUNTY <br />THIS IS TO CERTIFY THAT THIS IS <br />A TRUE AND CORRECT COPY OF <br />THE ORIGINAL ON FILE IN THIS <br />OFFICE. <br />FREDA/oWRRIIGH�T,,CLERK <br />// <br />BY {'• , a2J "GHp, D.C. <br />DATE <br />