My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1996-160
CBCC
>
Resolutions
>
1990'S
>
1996
>
1996-160
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/3/2016 8:45:23 PM
Creation date
12/28/2015 4:14:14 PM
Metadata
Fields
Template:
Resolutions
Resolution Number
1996-160
Approved Date
12/17/1996
Resolution Type
Interlocal Agreement
Entity Name
Escambia County Housing Finance Authority
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
15
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
f <br /> region under Section 159.804, Florida Statutes, shall be allocated ratably between <br /> Indian River County and such other Participating Counties within such region based <br /> upon lender demand. All lendable proceeds of the Bonds attributable to the mortgage <br /> loan demand in Indian River County shall be reserved for use in originating e <br /> 13th g mort a g g <br /> loans in Indian River County for an initial period of 120 days. <br /> The issuance and administration costs and expenses related to the Bonds <br /> issued to finance the housing program and administration of such program shall be <br /> paid from proceeds of the Bonds and revenues generated from the housing program. <br /> Section 3. Pto(gram Parameters. (a) Upon request of the Escambia <br /> Authority, the Participating County shall, to the extent permitted by law, (i) approve, <br /> establish, and update, from time to time as necessary, upon the request of the <br /> Escambia Authority. such program parameters including, but not limited to, <br /> maximum housing price and maximum adjusted family income for eligible borrowers, <br /> as may be required for any bonds issued by the Escambia Authority pursuant to this <br /> Agreement and (it) approve the allocation of mortgage loan moneys for each Participant <br /> offering to originate Mortgage Loans within the Participating County. Unless otherwise <br /> notified in writing by the Participating County, the Escambia Authority may from time <br /> to time approve and establish such maximum price and family income amounts at the <br /> maximum levels provided pursuant to the Code without further action of the <br /> Participating County. <br /> (b) The fees and expenses of the Participating County shall be paid from the <br /> proceeds of the program in the manner and to the extent mutually agreed upon by the <br /> officials of the Participating County and the Escambia Authority at or prior to issuance <br /> of the 1997 Escambia Bonds. <br /> Section 4. Terra. This Agreement will remain in full force and effect from <br /> the date of its execution until such time as it is terminated by any party upon 10 days <br /> written notice to the other party hereto. Notwithstanding the foregoing, it is agreed <br /> that this Agreement may not be terminated by the Participating County during the <br /> Authorization Period, or by any party during any period that the Bonds issued <br /> pursuant to the terms hereof remain outstanding, or during any period in which the <br /> proceeds of such Bonds are still in the possession of the Escambia Authority or Its <br /> agents pending distribution, unless either (1) the parties to this Agreement mutually <br /> agree in writing to the terms of such termination or(2) such termination, by its terms, <br /> only applies prospectively to the authorization to issue Bonds for which no Allocation <br /> Amount has been obtained and for which no purchase contract has been entered into. <br /> It is further agreed that in the event of termination the parties to this Agreement will <br /> provide continuing cooperation to each other in fulfilling the obligations associated <br /> with the issuance of bonds pursuant to this Agreement. <br /> Section S. Indemnity. To the full extent permitted by law, the Escambia <br /> Authority agrees to hold the Participating County harmless from any and all liability <br /> for repayment of principal of and interest or penalty on the Bonds, and the members <br /> and officials of the Participating County harmless from any and all liability in <br /> connection with the approval rendered pursuant to Sections 159.603 and 159.604, <br /> Florida Statutes. The Escambia Authority agrees that any offering, circular or official <br /> statement approved by and used in marketing the 1997 Escambia Bonds will include <br /> a statement to the effect that Bondowners may not look to the Participating County for <br /> payment of the Bonds and interest or premium thereon. <br /> MCL-10/02/96.8213-iM-rivr-is-cwn1 -3- <br />
The URL can be used to link to this page
Your browser does not support the video tag.