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Authority and Indian River County first enter into a written agreement setting forth the powers, duties and limitations of the Authority as they pertain to the use of said Bond proceeds within Indian River County and payment of the issuance costs for such Bonds. Section 2 In furtherance of the purposes set forth in Section 1 hereof the Chairman or Vice -Chairman and Clerk or Deputy Clerk of the Indian River Board are hereby authorized to execute such consents, intergovernmental agreements, applications, instruments or other documents as shall be required to implement such single family housing program and to provide for payment of Indian River County's proportionate share of costs of the costs thereof, including but not limited to the costs of issuance of such Bonds, all as shall be approved by counsel to Indian River County. Section 3 The Interlocal Agreement, in substantially the form attached hereto as Exhibit A, and made a part hereof, between Indian River County and the Authority is hereby approved. The officers of Indian River County are hereby authorized to enter into such interlocal agreements on behalf of Indian River County with such changes not inconsistent herewith as the officers executing same may approve, such execution and delivery to be conclusive evidence of such approval. The appropriate officers of Indian River County are hereby further authorized to execute and deliver such other documents and instruments as may be necessary to implement such Interlocal Agreements, including, without limitation, application for up to the maximum available private activity bond volume allocations pursuant to Chapter 159, Part VI, Florida Statutes, for the purposes set forth in the Interlocal Agreement. Section 4 The Indian River Board hereby approves, within the meaning of Section 147(1) of the Code, the Authority's plan of finance and the issuance by the Authority from time to time of not exceeding $100,000,000 Single Family Mortgage Revenue Bonds Multi -County Program, initially designated as Series 2001, for funding the Authority's program for Mortgage Loans, and such other action to be taken pursuant to the Enabling Resolution or Chapter 159, Part IV, Florida Statutes. Section 5 The principal of and premium, if any, and interest on the Bonds and all payments required under the proposed financing agreements, including the Interlocal Agreement, shall be payable solely by the Authority from the proceeds derived by the Authority under the proposed financing agreements, and Indian River County shall never be required to (i) levy ad valorem taxes on any property within its territorial limits to pay the principal of and premium, if any, and interest on the Bonds or to make any other payments provided for under the proposed financing agreements, or (ii) pay the same from any funds of Indian River County whatsoever. Adoption of this Resolution does not authorize or commit the expenditure of any funds of Indian River County to pay the costs of issuance of such Bonds. The Bonds are limited, special obligations and will not constitute a debt of the State of Florida, Indian River County, Escambia County, or other participating Counties or the Authority or other participating Housing Finance Authorities, but will be payable solely from payments made from the revenues generated from the Escambia Multi -County Single Family Housing Program. MCL -08/01 /00 Rev -09/08/00-0440 K