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Bonds, Series 2000 (the "Authorizing Resolution"), has heretofore authorized a plan of <br />finance (the "Plan') for the issuance from time to time of not exceeding $300,000,000 <br />Single Family Mortgage Revenue Bonds, Multi -County Program, of which $93,135,000 <br />of Single Family Mortgage Revenue Bonds has been issued to date; and <br />WHEREAS, the Authority has indicated that it expects to issue its Single Family <br />Mortgage Revenue Bonds, Series 2000 (Multi -County Program) (the "Escambia Bonds" <br />or the "Bonds") in a principal amount not exceeding $100,000,000, exclusive of any <br />amounts required for refunding purposes; and <br />WHEREAS, the Indian River Board desires to authorize certain actions as <br />necessary in connection with participation in the Escambia Multi -County Single <br />Family Housing Program and the issuance, sale, authentication and delivery of the <br />Bonds by entering into an Interlocal Agreement (the "Interlocal Agreement'); and <br />WHEREAS. Section 147(0 of the Internal Revenue Code of 1986, as amended <br />(hereinafter referred to as the "Code') requires public approval of certain private <br />activity bonds and the plan of finance therefor by an applicable elected representative <br />or governmental unit following a public hearing and the Indian River Board <br />constitutes an applicable elected representative or governmental unit; and <br />WHEREAS, pursuant to Section 147(f) of the Code a public hearing was <br />scheduled before the Indian River Board on behalf of the Indian River Board, the <br />Escambia Board and the Authority for November 16 1999, at 9:05 a.m. and notice of <br />such hearing was given in the form required by the Code by publication more than <br />fourteen (14) days prior to such hearing; and <br />WHEREAS, the Indian River Board has on Ncvemher iii, 1999, held the public <br />hearing and provided at such hearing reasonable opportunity for all interested <br />Individuals to express their views, both orally and in writing, on the issuance of the <br />Bonds; and <br />WHEREAS, the Indian River Board diligently and conscientiously considered all <br />comments and concerns expressed by such individuals; and <br />WHEREAS, the Indian River Board desires to express its approval of the action <br />to be taken pursuant to the Enabling and Authorizing Resolutions and Chapter 159, <br />Part IV, Florida Statutes, and as required by Section 147(Q of the Code; <br />NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />IISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br />Section 1 Because of the continuing shortage of affordable single family <br />housing and capital for investment therein in Indian River County and the continuing <br />impediments to a bond issue to alleviate such shortages as to single family housing, it <br />is hereby determined that the Indian River Board consents to the Authority exercising <br />its powers to issue the Bonds and to implement a plan of finance to provide capital <br />from sources of funds available to the Authority, including but not limited to a portion <br />MC1,07/22/99 <br />rev -08/30/99 <br />rev -08/31 /99-6383-indianriver-indrivres <br />