1997-145 - Laserfiche WebLink

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WHEREAS, the Board has on December 9 , 1997, held the public hearing and provided at such hearing reasonable opportunity for all interested individuals to express their views, both orally and in writing, on the issuance of the Bonds; and WHEREAS, the Board diligently and conscientiously considered all comments and concerns expressed by such individuals;and WHEREAS, the Board desires to express its approval of the action to be taken pursuant to the Escambia Resolution and Chapter 159,Part IV, Florida Statutes,and as required by Section 147(f) of the Code; NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: Section 1. Because of the continuing shortage of affordable single family housing and capital for investment therein in Indian River County and the continuing impediments to a bond issue to alleviate such shortages as to single family housing, it is hereby determined that the Board of County Commissioners of Indian River County consents to the Authority exercising its powers to issue the Bonds and to implement a plan of finance to provide capital from sources of funds available to the Authority, including but not limited to a portion of the proceeds of the Bonds, and proceeds of obligations refunded by the Bonds, to establish a program to finance Mortgage Loans for single family housing within the statutory boundaries of Indian River County("Mortgage Loans");provided,that the 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 Board of County Commissioners of Indian River County are hereby authorized to execute such consents, intergovernmental agreements, applications of 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 Board hereby approves, within the meaning of Section 147(f)of the Code, the Authority's plan of finance and the issuance by the Authority from time to time of not exceeding to $70,000,000 Single Family Mortgage Revenue Bonds, initially designated Series 1998 (Multi-County fil Program)for funding the Authority's program for Mortgage Loans,and such other action to be taken IV en pursuant to the Escambia Resolution or Chapter 159, Pan IV, Florida Statutes. erg O Section S. All resolutions or parts thereof of the Board in conflict with the provisions �D herein contained are, to the extent of such conflict,hereby superseded and repealed. p MCL49/17/97.6270-formbcre -2-