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4 i989 <br />BOOK 78 PAGE 263 <br />ON MOTION by Commissioner Scurlock, SECONDED by Com- <br />missioner Bowman, Commissioner Bird and Chairman <br />Wheeler being absent, the Board unanimously (3-0) <br />adopted Resolution 89-139 authorizing the issuance <br />of $913,000 IRD Bonds for the Profold, Inc. project. <br />INDIAN RIVER COUNTY, FLORIDA <br />RESOLUTION NO. 89- 139 <br />A RESOLUTION AUTHORIZING THE ISSUANCE, SALE AND DELIVERY <br />OF $913,000 AGGREGATE PRINCIPAL AMOUNT OF INDUSTRIAL <br />DEVELOPMENT REVENUE BONDS, SERIES 1989 (PROFOLD, INC. <br />PROJECT); AUTHORIZING LENDING THE PROCEEDS FROM SUCH <br />BONDS. TO PROFOLD, INC. IN ORDER TO FINANCE THE COST OF <br />ACQUISITION AND CONSTRUCTION OF A MANUFACTURING <br />FACILITY; APPROVING THE SUBSTANTIAL FORM OF TRUST <br />INDENTURE TO SECURE SUCH BONDS AND AUTHORIZING THE <br />EXECUTION THEREOF; APPROVING THE SUBSTANTIAL FORM OF <br />FINANCING AGREEMENT AND AUTHORIZING THE EXECUTION <br />THEREOF; APPROVING THE SUBSTANTIAL FORM OF MORTGAGE AND <br />SECURITY AGREEMENT RELATING TO SUCH FACILITY AND <br />AUTHORIZING THE EXECUTION OF AN ASSIGNMENT OF INTEREST <br />THEREIN TO FIRST FLORIDA BANK, N.A., TAMPA, FLORIDA, AS <br />TRUSTEE; APPROVING THE SUBSTANTIAL FORM OF A NOTE TO BE <br />DELIVERED TO THIS COUNTY BY PROFOLD, INC., AND <br />AUTHORIZING THE ASSIGNMENT AND DELIVERY OF SUCH NOTE TO <br />THE TRUSTEE; APPROVING THE FORM, TERMS AND DETAILS OF <br />SUCH BONDS; MAKING CERTAIN OTHER COVENANTS AND <br />AGREEMENTS IN CONNECTION WITH THE ISSUANCE OF SUCH <br />BONDS; AND AUTHORIZING AND DIRECTING OTHER NECESSARY AND <br />APPROPRIATE ACTION RELATING TO SUCH FINANCING. <br />WHEREAS, Indian River County (the "County") is authorized by the <br />provisions of the Florida Industrial Development Financing Act, being Part II <br />of Chapter 159, Florida Statutes (1988) (the "Act") to, among other things, <br />issue revenue bonds for the purpose of using the proceeds thereof to acquire, <br />construct, equip and install certain capital projects in order to promote the <br />economy of the State of Florida and the welfare of the citizens thereof; and <br />RESOLUTION 89-139 IS ON FILE IN THE OFFICE OF CLERK TO THE BOARD <br />IN ITS ENTIRETY. <br />50 <br />