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RESOLUTION 88- 47 <br />A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY BY <br />INDIAN RIVER COUNTY, FLORIDA, OF A LETTER OF INTENT <br />AND INDUCEMENT AGREEMENT TO PROFOLD, INC., WITH <br />RESPECT TO THE COUNTY'S ISSUANCE OF NOT TO EXCEED <br />$973,000.00 IN PRINCIPAL AMOUNT OF ITS REVENUE BONDS <br />TO FINANCE THE COST OF A MANUFACTURING FACILITY <br />WHEREAS,-Profold, Inc. (the "Company"), wishes to acquire and <br />construct a manufacturing facility and wishes to have Indian River County, <br />a political subdivision of the State of Florida (the "County"), issue its <br />revenue bonds to provide the necessary financing for such facility; and <br />WHEREAS, the County has determined that its issuance of such <br />obligations to assist the Company will serve a public purpose by <br />contributing to the prosperity of the State and its people; and <br />WHEREAS, the Company has requested the -County to indicate to the <br />Company its intentions in this -respect in order to induce the Company to <br />proceed with such project and incur expenses for -its initiation and its <br />financing. <br />NOW, <br />THEREFORE, BE IT <br />RESOLVED <br />BY THE BOARD OF COUNTY <br />COMMISSIONERS OF <br />INDIAN RIVER COUNTY, <br />FLORIDA, <br />as follows: , <br />1. The Chairman or Vice Chairman of the <br />Board of County Commissioners are hereby authorized to <br />execute, and the Clerk of the Board of the County is <br />hereby authorized to attest, the County's letter <br />RESOLUTION 88-47 IS ON FILE IN ITS ENTIRETY IN THE OFFICE OF THE <br />CLERK TO THE BOARD <br />AUG 2 1988 <br />12 BOOK 73 F't10E 323 <br />