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r"-JUL 16 196 <br />Bou 65 PvUL 97 <br />ON MOTION by Commissioner Lyons, SECONDED by Com- <br />missioner Wodtke, the Board unanimously approved <br />Resolution 86-39 approving the issuance of industrial <br />development revenue bonds for Florida Convalescent <br />Centers in compliance with the requirements of the <br />Internal Revenue Code. <br />RESOLUTION NO. 86-39 <br />WHEREAS, Indian River County, Florida (the "County"), heretofore <br />adopted a Resolution on June 18, 1986, relating to Florida Convalescent Centers, <br />Inc., (the "Corporation"), whereby the County authorized the issuance of its <br />revenue bonds for the purpose of paying the cost of acquisition, construction <br />and equipping of the Corporation's proposed facility consisting of certain land, <br />buildings, structures and equipment to be used as a skilled and intermediate <br />care nursing home facility (the "Project") which shall be located in Indian <br />River County, Florida; and <br />WHEREAS, the County is authorized to issue its revenue bonds to <br />finance the Project pursuant to the provisions of the Florida Industrial <br />Development Financing Act, Part II of Chapter 159, Florida Statutes, as amended; <br />and <br />WHEREAS, in order to satisfy the requirement of Section 103(k) of the <br />Internal Revenue Code of 1954, as amended, the County held a public hearing on <br />-_the proposed issuance of its $4,800,000 Revenue Bonds, Series 1986 (Florida <br />Convalescent Centers, Inc. Project) (the "Bonds") on the date of adoption <br />hereof, more than 14 days following the first publication of notice of such <br />public hearing in a newspaper of general circulation in Indian River County, <br />Florida (a true and accurate copy of the publication of notice is attached <br />'•hereto as Exhibit "A"), which public hearing was .conducted in a manner that <br />provided a reasonable opportunity for persons with differing views to be heard <br />on both the issuance of the Bonds and the location and nature of the Project; <br />and <br />WHEREAS, the Board of County Commissioners of Indian River County, <br />Florida, is the elected legislative body of the County; <br />50 <br />