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r i� 3x 50 mu 766 <br />. -AUG 41992 - <br />RESOLUTTON NO. 81.- _(�2 2 <br />W1N-:JZi,AS, Indian River County has received a commitment frc� <br />Fnr:;iers Home Administration to borrow $5,825,000.00 for the <br />a';I;;:hC('::1ThCj, construction and completion of the South County Wates <br />1:.•,•:;Lern, and <br />RI:T,S, the County will receive_ from the Farmers home <br />A,]:•:ir.isI-ration certain grant funds in the amount of $796,900.00; <br />WHLRF.AS, Indian River County has completely engineered the <br />purchased the land, completed the test well program and <br />is-uc i notice of award on the subject project; and <br />AS, Indian River County has received all permits necess.I ry <br />to construct the subject project; and <br />;:IIF.I:I AS, Indian River County will have a shortfall of $42-5,8J08.81 <br />ret.-ionting the difference between loan grant and other income itr_;I.- <br />by contract amounts and associated fees and expenses, <br />as reflected in the contract documents and other information <br />provided to the Farmers Home Administration; and <br />the Farmers home Administration desires assurances <br />t h— P,1111-(] of County Commissioners of Indian River County, Flor. is,41.t, <br />that shortfall of $425,808.81 will be assumed and paid by Inr1i-1 <br />"0 t- <br />- ('('Mnty in timely fashion, from non-ad-va10 i-ul;,, s&urcC <br />,NOW, 'I'IIEI?EFORE , BE IT RESOLVED I3Y THE BOARD OP COUNTY <br />I A! R I VER COUNTY, i'LORI IM, that, - as an inducemen t to the. 'r'., i r.• . . <br />?:I Adriinistration in issuing the take-out letter as required b; <br />,::71mi.tments to the -interim lenders and approving the conti.ict <br />I n:i 1an River County h(�roby ac.1ree s to n.ssume and pt -iv t!]• <br />amount as above described. <br />PI: IT FURTHER RESOLVED that the Board of County Commissioners <br />Irvil i an River County, Florida, will cooperate in every regard with <br />I?ol:he Administration to assure successful completion of th-2 <br />':r;unty Water System improvements. <br />BOARD�AF COUNTY COMMISSIONERS <br />OF J D N RIVER CQUTgY , FLORIDA <br />0 <br />tes t. . <br />_ <br />Fre ght, Cle k of Circu_it C_ <br />I.� <br />r7l.�ii... <br />a t rick <br />n <br />DIAN RIWR COUNTY <br />THIS IS TO CERTIFY THAT THIS IS <br />A TRUE AND CORRECT COrY Or <br />THE ORIGINAL ON FILE 1N THIS <br />OFFICE. <br />// �FRRED�T, CLERK <br />