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2009-088
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2009-088
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Last modified
6/28/2024 11:25:11 AM
Creation date
10/5/2015 8:48:19 AM
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Resolutions
Resolution Number
2009-088
Approved Date
06/16/2009
Agenda Item Number
10.A.1.
Resolution Type
Authorization
Entity Name
Escambia County Housing Finance Authority
Subject
Finance single family mortgage loans
Area
Boundaries of Indian River County
Supplemental fields
SmeadsoftID
6473
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Section 5. The principal of and premium, if any, and interest on the Bonds and all <br />payments required under the proposed financing agreements, including the Interlocal <br />Agreement, shall be payable solely by the Authority from the proceeds derived by the <br />Authority under the proposed financing agreements, and Indian River County shall never be <br />required to (i) levy ad valorem taxes on any property within its territorial limits to pay the <br />principal of and premium, if any, and interest on the Bonds or to make any other payments <br />provided for under the proposed financing agreements, or (ii) pay the same from any funds of <br />Indian River County whatsoever. Adoption of this Resolution does not authorize or commit the <br />expenditure of any funds of Indian River County to pay the costs of issuance of such Bonds. <br />The Bonds are limited, special obligations and will not constitute a debt of the State of Florida, <br />Indian River County, Escambia County, or other participating Counties or the Authority or <br />other participating Housing Finance Authorities, but will be payable solely from payments <br />made from the revenues generated from the Program. <br />Section 6. All resolutions or parts thereof of the Indian River Board in conflict with <br />the provisions herein contained are, to the extent of such conflict, hereby superseded and <br />repealed. <br />RIL-04/30!09-3073-County Does -Indian River BCC Reso-v 1 4 <br />
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