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INDIAN RIVER COUNTY, FLORIDA RESOLUTION NO. 89 - 54 RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $7,560,000 AGGREGATE PRINCIPAL AMOUNT OF SPECIAL ASSESSMENT REVENUE BONDS, SERIES 1989, OF INDIAN RIVER COUNTY, FLORIDA, THE NET PROCEEDS OF WHICH WILL BE USED TO MAKE A DEPOSIT INTO THE IMPACT FEE TRUST FUND OF THE COUNTY FOR APPLICATION TO PAY FOR THE EXPANSION OF THE SEWAGE DISPOSAL SYSTEM OF THE COUNTY, INCLUDING WITHOUT LIMITATION THE ACQUISITION AND CONSTRUCTION OF A PHYSICALLY INDEPENDENT SEWER SYSTEM TO BE KNOWN AS THE "NORTH COUNTY WASTEWATER SYSTEM"; PROVIDING FOR THE RIGHTS OF THE HOLDERS OF SUCH BONDS AND PLEDGING FOR THE PAYMENT THEREOF THE PROCEEDS OF CERTAIN SPECIAL ASSESSMENTS IN LIEU OF IMPACT FEES LEVIED BY THE COUNTY, OR LEVIED BY OTHER PUBLIC BODIES AND PAYABLE TO THE COUNTY PURSUANT TO AN INTERGOVERNMENTAL AGREEMENT, IN EACH CASE IMPOSED AGAINST PROPERTY THE OWNERS OF WHICH HAVE CONSENTED THERETO AND, AT THE OPTION OF THE COUNTY, FROM OTHER LEGALLY AVAILABLE NON AD VALOREM TAX FUNDS; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: SECTION 1. AUTHORITY FOR THIS RESOLUTION. This resolution is adopted pursuant to Ordinance No. 86-88 of the County, applicable provisions of Article VIII, Section 1, Florida Constitution (1968), Chapter 125, Florida Statutes (1988), and other applicable provisions of law. SECTION 2. DEFINITIONS. Unless otherwise defined herein, the terms used herein shall have the meanings ascribed to them in Ordinance 86-88 of the County. The following terms shall have the following meanings in this Resolution unless the context otherwise clearly requires: A. "Act" shall mean, collectively, Ordinance No. 86-88 of the County, applicable provisions of Article VIII, Section 1, Florida Constitution (1968), Chapter 125, Florida Statutes (1988), and other applicable provisions of law. B. "Assessments" shall mean the special assessments in lieu of impact fees levied upon property, with the -consent of the property owners, pursuant to Ordinance No. 86-88, Resolution No. 87-142, Resolution No. 89-12 and Resolution No. 89-20 of the County and Ordinance No. 0-87-01, Resolution No. R- 87-85, Resolution No. R-89-07 and Resolution No. R-89-12 of the City, pursuant to and in accordance with the terms and provisions of the Intergovernmental Agreement. C. "Authorized Investments" shall mean those investments specified in Section 125.31, Florida Statutes (1988), as amended. D. "Board" shall mean the Board of County Commissioners of the County. E. "Bonds" shall mean the $7,560,000 aggregate principal amount of Special Assessment Revenue Bonds, Series 1989, authorized and issued pursuant to this Resolution and the Act. F. "Bond Registrar" shall mean the bond registrar for the Bonds to be determined by subsequent resolution of the County. RESOLUTION 89-54 IS ON FILE IN ITS ENTIRETY IN THE OFFICE OF THE CLERK TO THE BOARD 86 JUN 6 1989 BOOK .76 FAGE103k