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O LD <br />wVy'� <br />z <br />0 > rn ei <br />N U <br />z� <br />FQm <br />z <br />z 11 <br />0 <br />M 1N! 11x001100 OP <br />CUM MOON COURT <br />RESOLUTION NO. 2000 -12 0mom arm co. PIA, <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, <br />AUTHORIZING THE ESCAMBIA COUNTY HOUSING <br />FINANCE AUTHORITY TO OPERATE WITHIN THE <br />BOUNDARIES OF INDIAN RIVER COUNTY, TO FINANCE <br />QUALIFYING SINGLE FAMILY MORTGAGE LOANS ON <br />BEHALF OF INDIAN RIVER COUNTY; AUTHORIZING THE <br />BOARD TO ENTER INTO AGREEMENTS WITH THE <br />ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY AND <br />TO EXECUTE AND DELIVER CERTAIN DOCUMENTS AND <br />INSTRUMENTS IN CONNECTION THEREWITH; APPROVING <br />A FORM OF INTERLOCAL AGREEMENT; APPROVING THE <br />ISSUANCE BY THE ESCAMBIA COUNTY HOUSING FINANCE <br />AUTHORITY OF NOT EXCEEDING $100,000,000 SINGLE <br />FAMILY MORTGAGE REVENUE BONDS, SERIES 2001 <br />(MULTI -COUNTY PROGRAM), PURSUANT TO SECTION <br />147(0 OF THE INTERNAL REVENUE CODE OF 1986, AS <br />AMENDED; PROVIDING THAT SUCH BONDS CONSTITUTE <br />LIMITED, SPECIAL OBLIGATIONS; AND PROVIDING AN <br />EFFECTIVE DATE. <br />WHEREAS, Chapter 159, Part IV, Florida Statutes, (the "Act") authorized <br />counties to create housing finance authorities to exercise powers of the Act within <br />their boundaries or outside their boundaries with the consent of the governing body of <br />the territory outside their area of operation; and <br />WHEREAS, the Board of County Commissioners of Escambia County, Florida, <br />(the "Escambia Board") on May 29, 1980, adopted Ordinance No. 80-12, by which it <br />created the Escambia County Housing Finance Authority (the "Authority") and <br />authorized the Authority to exercise all powers under the Act; and <br />WHEREAS, there is no housing finance authority currently operating in Indian <br />River County; and <br />WHEREAS, pursuant to the Act, the Board of County Commissioners of Indian <br />River County, Florida, (the "Indian River Board") has found a shortage of affordable <br />housing and capital for investment therein and a need for a housing finance authority <br />to function in Indian River County; and <br />WHEREAS, it is not practicable at this time under existing Florida and Federal <br />laws and regulations for a single local agency to Issue its bonds for the purpose of <br />implementing a single family housing program, although the shortage of such single <br />family housing and capital for investment therein is continuing in Indian River <br />County; and <br />WHEREAS, the Authority by resolution duly adopted on June 13, 2000 (the <br />"Enabling Resolution"), authorized a plan of finance (the "Plan") for the Issuance from <br />MCL -08/0 1 /00 <br />Rn•-09/O8/00-6440-ind rivres <br />.1111110 <br />81 :6 WV 9- 130 00 <br />