Laserfiche WebLink
RESOLUTION NO. 2013- <br /> A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br /> INDIAN RIVER COUNTY, FLORIDA, AUTHORIZING THE ESCAMBIA <br /> COUNTY HOUSING FINANCE AUTHORITY TO OPERATE WITHIN <br /> THE BOUNDARIES OF INDIAN RIVER COUNTY, FLORIDA, AND <br /> APPROVING A PLAN TO FINANCE SINGLE FAMILY MORTGAGE <br /> LOANS ON BEHALF OF INDIAN RIVER COUNTY, FLORIDA; <br /> AUTHORIZING THE BOARD OF COUNTY COMMISSIONERS TO <br /> ENTER INTO AGREEMENTS WITH THE ESCAMBIA COUNTY <br /> HOUSING FINANCE AUTHORITY AND TO EXECUTE AND DELIVER <br /> CERTAIN DOCUMENTS AND INSTRUMENTS IN CONNECTION <br /> THEREWITH; APPROVING A FORM OF INTERLOCAL <br /> AGREEMENT; APPROVING THE ISSUANCE BY THE ESCAMBIA <br /> COUNTY HOUSING FINANCE AUTHORITY OF NOT EXCEEDING <br /> $150,000,000 SINGLE FAMILY MORTGAGE REVENUE BONDS, <br /> PURSUANT TO SECTION 147(f) OF THE INTERNAL REVENUE CODE <br /> OF 1986, AS AMENDED; PROVIDING THAT SUCH BONDS <br /> CONSTITUTE LIMITED, SPECIAL OBLIGATIONS; AND PROVIDING <br /> AN EFFECTIVE DATE. <br /> WHEREAS, Chapter 159, Part IV, Florida Statutes, (the "Act") authorized counties to <br /> create housing finance authorities to exercise powers of the Act within their boundaries or <br /> outside their boundaries with the consent of the governing body of the territory outside their area <br /> of operation; and <br /> WHEREAS, the Board of County Commissioners of Escambia County, Florida, (the <br /> "Escambia Board") on May 29, 1980, enacted Ordinance No. 80-12 and on March 20, 2003, the <br /> Escambia Board enacted Ordinance 2003-8 (collectively, the "Ordinance"), creating the <br /> Escambia County Housing Finance Authority (the "Authority") and authorized the Authority to <br /> exercise all powers under the Act subject to approval by the Escambia Board as a condition <br /> precedent to the effectiveness of the certain actions of the Authority; and <br /> WHEREAS, there is no housing finance authority currently operating in Indian River <br /> County, Florida ("Indian River County"); and <br /> WHEREAS, pursuant to the Act, the Board of County Commissioners of Indian River <br /> County, Florida, (the "Indian River Board") has found a shortage of affordable housing and <br /> capital for investment therein and a need for a housing finance authority to function in Indian <br /> River County; and <br /> WHEREAS, it is not practicable at this time under existing Florida and Federal laws and <br /> regulations for a single local agency to issue its mortgage revenue bonds for the purpose of <br /> implementing a single family housing program, although the shortage of such single family <br /> housing and capital available for investment therein is continuing in Indian River County; and <br /> • <br /> 1 <br /> 27 <br />