1979-16 - Laserfiche WebLink

Home Browse Search

WHEREAS, the Board of County Commissioners of Indian River County on Ja ijry 10,1979 adopted Resolution No. 79-10 declaring, after review- ing appropriate information, and being aware of the general state of the local economy and rapidly increasing housing costs and shortages of sufficient low- cost capital for housing in the County, that there is a need for the Authority to function, NOW, THEREFORE•., BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: Section 1. This Ordinance is enacted pursuant to the Florida Housing Fi- nance Authority Law, Chapter 78-89, Laws of Florida, a copy of which is attached hereto and incorporated herein by reference. Section 2. It is hereby ascertained and found that there are shortages of housing and of capital for investment in housing in Indian River County, Florida (the "County"), and declared that there is a need for a housing fi- nance authority in the County to alleviate and remedy the aforementioned housing and investment'capital shortages. Section 3. There is hereby created a separate public body corporate and politic to be known as the Housing Finance Authority of Indian River County, Florida, referred to as the "Authority", which is directed to carry out and exercise, without limitation except as is herein expressly stated, all powers and public and governmental functioons set forth in and contemplated by the Act. The Authority shall have the power to make and issue such regulations, bylaws and rules as it deems necessary to implement its powers and functions. Section 4. The Authority shall have the power and is hereby directed to operate within the territorial boundaries of the County, and within any area outside the territorial boundaries of the County, if the governing body of the county within which such outside area is located so approves, either generally or only for specified qualifying housing developments or only for a specified number of qualifying housing developments. Section 5. The Authority shall be composed of five (5) members, one (1) of whom shall be designated chairperson. Not less than three (3) of the mem- bers shall be knowledgeable in one of the following fields: labor, finance or commerce. The terms of the members shall be four (4) years each, except that the terms of the initial members shall be as follows: two (2) members shall serve a term of one (1) year; one (1) member shall serve a term of two (2) years; one (1) member shall serve a term of three (3) years, and one (1) mem- .?r ::!roll servs a lam of four (1) years. A member shall hold office until