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1061 <br /> SIVE Office of the <br /> Z INDIAN RIVER COUNTY <br /> ORI��.* ADMINISTRATOR <br /> Joseph A. Baird, County Administrator <br /> Michael C. Zito, Assistant County Administrator <br /> MEMORANDUM <br /> TO: Members of the Board of County Commissioners <br /> FROM: Joseph A. Baird <br /> County Administrator <br /> DATE: October 8,2013 <br /> SUBJECT: Tax Equity Fiscal Responsibility Act (TEFRA) Public Hearing <br /> Escambia County I lousing Finance Authority <br /> Single Family Mortgage Revenue Bonds <br /> This TEFRA (Tax Equity Fiscal Responsibility Act) Public Hearing is being held to enable <br /> Escambia County Housing Finance Authority to apply for District 9B Industrial Bond Allocation <br /> from the State of Florida. This will allow the Escambia County Housing Finance Authority to <br /> issue Single Family Mortgage Revenue Bonds Series in an amount not to exceed $150,000,000. <br /> Following the Public Hearing, if the Board of County Commissioners wishes to grant Escambia <br /> County Housing Finance Authority the ability to apply for the Industrial Revenue Bond <br /> Allocation in District 913, the Board must approve the Resolution and Interlocal Agreement, and <br /> authorize the Chairman to sign all documents required in connection with the financing. <br /> FUNDING: <br /> There is no cost to Indian River County to participate in the joint bond program. <br /> RECOMMENDATION: <br /> Staff recommends that the Board of County Commissioners open the public hearing, take public <br /> comments, close the public hearing, approve the Resolution and Interlocal Agreement. and <br /> 25 <br />