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construction, reconstruction, furnishing and equipping <br />of certain capital facilities; providing for the issuance <br />of not exceeding $25,000,000 refunding and improvement <br />revenue bonds, Series 1985, of the county to be applied <br />to refund the principal and interest of such presently <br />outstanding obligations and to pay the cost of the <br />project; providing for the payment of said bonds from <br />the sales tax received by the county; making certain <br />covenants and agreements in connection therewith; pro- <br />viding an effective date"; providing an effective date. <br />MOTION WAS MADE by Commissioner Scurlock, SECONDED by <br />Commissioner Bird, to adopt Resolution 85-125 amending <br />Resolution 85-75, as described by'Attorney Vitunac. <br />Chairman Lyons commented that the only fund mentioned is the <br />Sales Tax and asked if other funds aren't involved. <br />Director Barton stated that the pledge is the Sales Tax, and <br />Mr. Lang explained that the Racetrack funds will be released and <br />the only thing committed is the Sales Tax. <br />THE CHAIRMAN CALLED FOR THE QUESTION. <br />It was voted on and carried unanimously. <br />Attorney Vitunac then read the title of the second proposed <br />Resolution: <br />"A Resolution authorizing the execution of a bond purchase <br />agreement for the sale and award of $9,855,000 refunding <br />and improvement revenue bonds, Series 1985, of the county <br />of Indian River, Florida, at negotiated sale to the pur- <br />chaser thereof; fixing the date, maturities, interest <br />rates, redemption provisions and other details of said <br />bonds; authorizing the use of an official statement in <br />21 <br />CT 2 3 1985 Bau 62 fn.t 470 <br />