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1998-139
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1998-139
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3/3/2016 9:45:28 PM
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Resolutions
Resolution Number
1998-139
Approved Date
12/15/1998
Resolution Type
Authorizing Escambia County Housing Finance Authority to operate
Finance Qualifying single family mortgage loans
authorie Board to enter into agreements w/ECHFA
Approved a form of interlocal agreement
Approve issuance of ECHFA Single Family Mortgage Revenue Bonds
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and family income amounts at the maximum levels provided pursuant to the <br /> Code without further action of the Participating County. <br /> (B) The fees and expenses of the Participating County shall be paid <br /> from the proceeds of the program in the manner and to the extent mutually <br /> agreed upon by the officials of the Participating County and the Escambla <br /> Authority at or prior to issuance of the 1999 Escambla Bonds. <br /> Section 4. Terns. This Agreement will remain in full force and effect <br /> from the date of its execution until such time as it is terminated by any party <br /> upon ten (10) days written notice to the other party hereto. Notwithstanding <br /> the foregoing, it is agreed that this Agreement may not be terminated by the <br /> Participating County during the Authorization Period, or by any party during <br /> any perhxi that the 1999 Eseembla Bonds Issued pursuant to the terms hereof <br /> remain outstanding, or during any period in which the proceeds of such 1999 <br /> Escambla Bonds (or investments acquired through such proceeds) are still in <br /> the possession of the Escambia Authority, or its agents, pending distribution, <br /> unless either (1) the parties to this Agreement mutually agree in writing to the <br /> terns of such termination or (2) such termination, by its terms, only applies <br /> prospectively to the authorization to issue 1999 Escambia Bonds for which no <br /> Allocation Amount has been obtained or used by the Authority and for which no <br /> purchase contract has been entered Into. It is further agreed that in the event <br /> of termination the parties to this Agreement will provide continuing cooperation <br /> to each other In fulfilling the obligations associated with the issuance of Bonds <br /> pursuant to this Agreement. <br /> Section 6. Indemnity. To the full extent permitted by law, the <br /> Escambia Authority agrees to hold the Participating County harmless from any <br /> and all liability for repayment of principal of and Interest or penalty on the 1999 <br /> Escambia Bonds issued pursuant to this Agreement, and the members, <br /> officials, employees and agents of the Participating County harmless from any <br /> and all liability in connection with the approval rendered pursuant to Sections <br /> 159.603 and 159.604, Florida Statutes. The Escambia Authority agrees that <br /> any offering, circular or official statement approved by and used in marketing <br /> the 1999 Escambla Bonds will include a statement to the effect that Bond <br /> owners may not look to the Participating County or Its respective members, <br /> officials, employees and agents for payment of the 1999 Escambla Bonds and <br /> Interest or premium thereon. <br /> 0 <br /> N <br /> •v <br /> r.� <br /> N <br /> tD <br /> MCI<08/21/98.0329•Indrivis 4 <br />
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