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OCT <br />151987 BOOK 69 F-AGE.676 <br />action as shall be necessary to carry out the intent and purposes expressed in <br />the aforementioned letter, upon its becoming an agreement on its execution by <br />the County and the Company, and are further authorized to take such other steps <br />and actions as may be required and necessary in order to issue the Refunding <br />Bonds. <br />3. This Resolution is an affirmative action of the County toward the <br />issuance of its Refunding Bonds in accordance with the applicable laws and <br />Constitution of the State of Florida, including without limitation Chapter 159, <br />Florida Statutes, and the applicable federal income tax laws and the regulations <br />promulgated thereunder. <br />4. Approved and adopted by the Board of County Commissioners of <br />Indian River County, this 13th day of October, 1987. <br />ATTEST: BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA <br />By: re <br />Don C. Scurlock, Jr., 'rman <br />EXHIBIT "A" <br />Re: Proposed $4,800,000 Indian River County, Florida <br />Industrial Development Revenue Refunding Bonds, <br />Series 1987 (Florida Convalescent Centers Inc Project) <br />October 13, 1987 <br />David Evans <br />Vice President <br />Florida Convalescent Centers, Inc. <br />Honeywell Center <br />Suite 1111 <br />1111 Mockingbird Lane <br />Dallas, Texas 75247 <br />Dear Mr. Evans: <br />Florida Convalescent Centers, Inc., (the "Company") has requested <br />Indian River County, Florida (the "County") to consider refunding its $4,800,000 <br />Industrial Development Revenue Bonds, Series 1986 (Florida Convalescent Centers, <br />Inc. Project) (the "Bonds"). <br />The Bonds were issued to finance the acquisition and construction of a <br />skilled and intermediate care nursing home facility in the County (the <br />-"Project") . <br />The County heretofore determined that its issuance of the Bonds to <br />assist the Company in acquiring and constructing the Project would result in a <br />substantial increase in employment in the County and that the issuance of the <br />Bonds would serve a public purpose by increasing the purchasing power and <br />improving the living conditions of the citizens and inhabitants of the County and <br />would contribute to the prosperity and welfare of the State and its inhabitants. <br />34 <br />