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F. • K• RESOLUTION NO. 99- 122 RESOLUTION EXPRESSING THE INTENT OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA TO PROCEED IN CONJUNCTION WITH THE FLORIDA HOUSING FINANCE CORPORATION WITH THE FINANCING OF A MULTIFAMILY RESIDENTIAL RENTAL HOUSING PROJECT THROUGH THE ISSUANCE BY FLORIDA HOUSING FINANCE CORPORATION ON BEHALF OF ITSELF AND INDIAN RIVER COUNTY OF ITS NOT TO EXCEED $9,100,000 MUL'T'IFAMILY HOUSING REVENUE BONDS FOR THE BENEFIT OF WALKER AVENUE CLUB, LTD, A FLORIDA LIMITED PARTNERSHIP; APPROVING THE ISSUANCE BY TI -IE FLORIDA HOUSING FINANCE CORPORATION OF ITS MULTIFAMILY HOUSING REVENUE BONDS (WALKER AVENUE APARTMENTS PROJECT) IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $9,100,000 ON BEHALF OF ITSELF AND INDIAN RIVER COUNTY TO PROVIDE FUNDS TO FINANCE A MULTIFAMILY HOUSING PROJECT; AND PROVIDING AN EFFECTIVE DATE WHEREAS, the Florida Housing Finance Corporation ("Florida Housing") is a public body corporate and politic, duly organized and existing under the provisions of Chapter 420, Florida Statutes, as amended and supplemented; and WHEREAS, Walker Avenue Club, Ltd., a Florida limited partnership (the "Developer"), has requested the Board of County Commissioners (the "Board") of Indian River County, Florida (the "County") to apply on behalf of the Developer for an allocation of bond volume in a principal amount of not to exceed $1,600,000, to be used by Florida Housing in combination with Florida 1-10using's bond volume allocation in an amount not to exceed $7,500,000, in one or more series, and issue Florida Housing's Multifamily Housing Revenue Bonds, Series [to be determined] (Walker Avenue Club Apartments Project) (the "Bonds"), the proceeds of which would be used to (i) pay or reimburse the Developer for the cost of acquisition, construction and equipping a multifamily residential rental apartment project, comprised of the Walker Avenue Club Apartments which will consist of 172