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� � w <br />adopted Resolution 85-87 authorizing the trustees <br />to disburse the $503,191.24 held in the trust <br />account to the owner/developer of Seagrove West <br />Subdivision or his designee. <br />RESOLUTION 85- 87 <br />RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY, FLORIDA AUTHORIZING THE DISBURSEMENT OF FUNDS HELD UNDER <br />THE TERMS OF A TRUST AGREEMENT BETWEEN HARBOR FEDERAL SAVINGS <br />AND LOAN ASSOCIATION, INDIAN RIVER COUNTY, AND HARBOR FEDERAL <br />SAVINGS AND LOAN ASSOCIATION. <br />WHEREAS, Indian River County (County), with the Chairman of <br />the Indian River County Commission and the Director of the <br />Office of Management and Budget (Trustees), Harbor Federal <br />Savings and Loan Association (Developer), and Harbor Federal <br />Savings and Loan Association (Bank), have entered into a cash <br />deposit and trust agreement; and <br />WHEREAS, under the terms of said agreement, Developer has <br />made a written request for disbursement of funds held by the <br />Bank to guarantee construction of required improvements, and has <br />submitted an engineer's certification of the completed work, <br />release of lien statements from project contractors, and <br />certification from the City of Vero Beach that required <br />utilities have been constructed and approved; and <br />WHEREAS, under the terms of said agreement, the Public <br />Works Director has caused an inspection of the improvements and <br />has issued a certificate of completion, and recommends a <br />disbursement of all funds held by the Bank in the trust account. <br />Now, therefore, be it resolved by the Board of County <br />Commissioners of Indian River County, Florida that: <br />Trustees shall make a disbursement of funds <br />in the amount of $503,191.24 from the trust <br />account held by Bank to Developer or to any <br />third party or parties upon which Developer <br />may otherwise agree. <br />The foregoing resolution was offered by Commissioner <br />Scurlock who moved its adoption. The motion was <br />seconded by Commissioner Wodtke , and upon being <br />put to a vote, the vote was as follows: <br />Chairman Patrick B. Lyons Aye <br />Vice -Chairman Don C. Scurlock, Jr. Aye <br />Commissioner Richard N. Bird Aye <br />Commissioner Margaret C. Bowman Aye <br />Commissioner William C. Wodtke, Jr. Aye <br />The Chairman thereugltnh declared hetemvolution duly passed <br />and adopted this day of p ,1985. <br />Attest: <br />SEP 111985 <br />BOARD <br />OF IX <br />FREDA WRIGHT,er�„� n <br />STATE OF FLORIDA �" �I J <br />COUNTY OF INDIAN RIVER <br />5 <br />COMMISSIONERS <br />COUNTY, FLORIDA <br />BOOK b? PAUE 00 <br />