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Exhibit "A" <br />FORM OF <br />INTERLOCAL AGREEMENT <br />THIS AGREEMENT made and entered into this 20 day of December <br />by and between the ESCAMBIA COUNTY ROUSING FINANCE AUTHORITY, a <br />public body corporate and politic organized and existing under Ute laws of the State of <br />Florida (hereinafter referred to as "tile Escambia Authority"). and <br />INDIAN RIVER COUNTY, a political subdivision of the State of Florida <br />(hereinafter referred to as the "Local Authority"); <br />WITNESS.ETII: <br />WHEREAS, Part IV of Chapter 159 of the Florida Statutes authorizes the <br />creation of Housing Finance Authorities within the State of Florida for the purpose of <br />Issuing revenue bonds to assist in relieving the shortage of housing available at prices <br />or rentals which many persons and families can afford. and <br />WHEREAS. the Escambla, Authority has resolved to issue not exceeding <br />$60.000.000 Single Family Mortgage Revenue Bonds. Series 1992 (the "1992 <br />Escambia Bonds"); and <br />WHEREAS, pursuant to Sections 143 and 146 of the Internal Revenue Code of <br />1986, as amended (the "Code"). the amount of Mortgage Subsidy Bonds which may be <br />Issued in each year is limited by a private activity bond volume cap which has been <br />established for such purpose within the State of Florida: and <br />WHEREAS, the limitations upon available portions of the volume cap prevent <br />the separate issuance of bonds for each county from being feasibly and economically <br />accomplished; and <br />WHEREAS, the Escambla Authority has authorized a sufficient amount of 1992 <br />Escambla Bonds to fund the anticipated demand during1992 for qualifying single <br />family mortgages of both Escambla County and Indan River County. as <br />well as certain other counties which may also participate in a joint bond program; and <br />WHEREAS, the Escambla Authority anticipates implementing a similar bond <br />Program for the 1993 calendar year: and <br />WHEREAS, the aggregation of mortgage loan dernand and the securing of the <br />related amount of the State volume cap (tile "Allocation Amount") during t}re three <br />year period commencing January 1, 1992 (tire "Authorization Period") for the purpose <br />of issuing bonds (the "Bonds") will result in a wider allocation of fixed expenses and <br />certain other economics of scale: and <br />WHEREAS, unless such economies are realized. the issuance of Mortgage <br />Subsidy Bonds would be less economical: and <br />WHEREAS. Sections 159.603 and 159.604. Florida Statutes, authorize <br />Indian River County (the "Participating County") to approve the issuance <br />of revenue bonds through tfrc Escambla Authority to alleviate 'the shortage of <br />LKL-09 JOe J91-3136•bl.inldnt <br />9 <br />'0 1991 BOOK' r� <br />