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DEC 2 0 o91 BOOK;' WHEREAS, the Board diligently and conscientiously considered all comments and concerns expressed by such individuals; and WHEREAS, the Board desires to express its approval of the action to be taken pursuant to the Resolution of the Escambia County Housing Finance Authority and as required by Section 147(f) of the Code, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: Section 1. Because of the continuing shortage of affordable single-family housing and capital for investment therein in Indian River County and the continuing impediments to a bond issue to alleviate such shortages as to single-family housing, it is hereby determined that the Board of County Commissioners of Indian River County consents to the Escambia County Housing Finance Authority (the "Authority") exercising its powers to issue the bonds and to implement a program from a portion of the proceeds of the Bonds to finance single-family housing within the statutory boundaries of Indian River County; provided, that the Authority and Indian River County first enter into a written agreement setting forth the powers, duties, and limitations of the Authority as they pertain to the use of said bond proceeds with Indian River County and payment of the issuance costs for such bonds. Section 2. In furtherance of the purposes set forth in Section 1 hereof the Chairman or Vice -Chairman and Clerk of the Board of County Commissioners of Indian River County are hereby authorized to execute such consents, intergovernmental agreements, or other documents as shall be required to implement such single-family housing program and to provide for payment of Indian River County's proportionate share of costs of issuance of such bonds, all as shall be approved by counsel to Indian River County. Section ' 3. The Interlocal Agreement, in substantially the form attached hereto as Exhibit "A," and made a part hereof, between Indian River County and the Authority is hereby approved. The officers of Indian River County are hereby authorized to enter into the Interlocal Agreement on behalf of Indian River County. Section 4. The Board hereby approves, within the meaning of Section 147(f) of the Code, the issuance by the Authority of not exceeding $60,000,000 Single -Family Mortgage Revenue Bonds, Series 1992, and such other action td be taken pursuant to the Escambia Resolution. Section 5. All resolutions or parts thereof of the Board in conflict with the provisions herein contained are, to the extent of such conflict, hereby superseded and repealed. Section 8. Adoption of this resolution does not authorize or commit the expenditure of any funds of Indian River County to pay the costs of issuance of such bonds. Section 7. This resolution shall take effect immediately upon its adoption. Duly adopted in regular session this 20th day of December, 1991. BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY, FLORIDA By Richard N. Bird, Chairman Jef a ton, Clerk .e. 8 Iindian niver 6n AGDrovr_d --- Daie Admin. Legal J 1 Budges D ei, i. Hi -It Mgr. r