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DEC 111990 <br />BOOK <br />L. TEFRA Hearing (Escambia Co. Finance Authority/Single Family <br />Fond Tyr o _ram —� ---��— <br />The Board reviewed the following: <br />_l 011ham I.Honh & Co. <br />100 SECOND AVENUE SOUTH <br />SUITE 800 - <br />ST. PETERSBURG, FLORIDA 33701 <br />(813) 823-8100 <br />December 7, 1990 <br />_V J <br />Ms. Carolyn K. Eggert /6 0Fc1990 <br />Chairwoman <br />Indian River County•Commissio <br />1840 25th Street o04�/c,E�t o <br />� <br />Vero Beach, Floridada 32960 Dt1N <br />Dear Ms. Eggert: <br />William R. Hough & Co. is again structuring a single family bond program <br />for the Escambia County Housing Finance Authority to provide affordable housing <br />to low, moderate and middle income families. As you recall, last year we <br />presented the same program to Indian River County and, because of timing on the <br />program, we were unable to include Indian River County prior to the time that we <br />marketed the bonds. However, we did make a presentation to the financial <br />advisory committee of the County who made a recommendation to the Board of County <br />Commissioners to participate in the program. The Board of County Commissioners <br />was very enthusiastic about the program. <br />This year, we have structured another program with the Escambia County <br />Housing Finance Authority as the lead issuer and have invited Indian River County <br />to be a participant. We are requesting that the Board put that item on the <br />agenda to consider participation in the program and if interested to formally <br />adopt a resolution, approving the program. I have enclosed the following <br />documents that the County would have to execute to participate in the program: <br />1) Resolution to be adopted by the Board of County•Commissioners; and <br />2) Interlocal Agreement to be executed by the Board of County <br />Commissioners <br />In addition; provided with this letter is a term sheet with a three-page <br />description of the program and also a summary of the background of Indian River <br />County's interest in the program. <br />If there are any questions or you need any additional information, please <br />do not hesitate to call. <br />Sincerely, <br />WILLIAM R. HOUGH & CO. <br />Edwin M. Bulleit, CPA <br />Vice President <br />Chairman Eggert advised that it is necessary to advertise a <br />public hearing in this regard.. <br />20 <br />