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✓ IN THE RECORDS OF <br /> JEFFREY K.BARTON <br /> CLF RK CIRCUIT COURT <br /> I INDIAN RIVER CO.,FLA. <br /> • RESOLUTION NO. 98- 13 9 <br /> llI ' <br /> r�i, A RESOLUTION OF THE BOARD OF COUNTY <br /> COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, <br /> AUTHORIZING THE ESCAMBIA COUNTY HOUSING FINANCE <br /> AUTHORITY TO OPERATE WITHIN THE BOUNDARIES OF <br /> INDIAN RIVER COUNTY, TO FINANCE QUALIFYING SINGLE O <br /> FAMILY MORTGAGE LOANS ON BEHALF OF INDIAN RIVER W <br /> COUNTY; AUTHORIZING THE BOARD TO ENTER INTO to <br /> AGREEMENTS WITH THE ESCAMBIA COUNTY HOUSING m <br /> FINANCE AUTHORITY AND TO EXECUTE AND DELIVER v <br /> CERTAIN DOCUMENTS AND INSTRUMENTS IN CONNECTION <br /> THEREWITH; APPROVING A FORM OF INTERLOCAL <br /> AGREEMENT; APPROVING THE ISSUANCE BY THE <br /> ESCAM 3LA COUNTY HOUSING FINANCE AUTHORITY OF NOT <br /> EXCEEDING $100,000,000 SINGLE FAMILY MORTGAGE <br /> REVENUE BONDS, SERIES 1999 (MULTI-COUNTY <br /> PROGRAM), PURSUANT TO SECTION 1470 OF THE <br /> INTERNAL REVENUE CODE OF 1986, AS AMENDED; coco <br /> PROVIDING THAT SUCH BONDS CONSTITUTE LIMITED, Cl) <br /> SPECIAL OBLIGATIONS; AND PROVIDING AN EFFECTIVE <br /> DATE. <br /> ro <br /> s <br /> WHEREAS, Chapter 159, Part IV, Florida Statutes, (the "Act") authorized <br /> counties to create housing finance authorities to exercise powers of the Act within j. <br /> their boundaries or outside their boundaries with the consent of the governing body of w <br /> the territory outside their area of operation; and <br /> WHEREAS, the Board of County Commissioners of Escambia County, Florida, <br /> (the "Escambia Board") on May 29, 1980, adopted Ordinance No. 80-12, by which it <br /> created the Escambia County Housing Finance Authority (the "Authority") and <br /> authorized the Authority to exercise all powers under the Act;and <br /> WHEREAS, there is no housing finance authority currently operating in Indian <br /> River County; and <br /> WHEREAS, pursuant to the Act, the Board of County Commissioners of Indian <br /> River County, Florida, (the "Indian River Board') has found a shortage of affordable <br /> �- housing and capital for investment therein and a need for a housing finance authority <br /> Q to function in Indian River County; and <br /> r WHEREAS, it is not practicable at this time under existing Florida and federal <br /> Qlaws and regulations for a single local agency to issue its bonds for the purpose of o <br /> L7 implementing a single family housing program, although the shortage of such single <br /> family housing and capital for investment therein is continuing in Indian River N <br /> Its County; and �. <br /> WHEREAS, the Authority has by resolution duly adopted on March 10, 1998 <br /> (the"Escambia Resolution') authorized a plan of finance for the issuance from time to " <br /> time of not exceeding $100,000,000 Single Family Mortgage Revenue Bonds, Multi- <br /> County Program, and initially designated as Series 1999 (the "Bonds"), in connection _ <br /> with its Multi-County Single Family housing program (the "Escambia Multi-County v <br /> MCL-08/20/98.8329-Indrivres I <br />