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RESOLUTION NO. 2017- 067 WHEREAS, the MCC is a nonrefundable federal income tax credit which acts to reduce an eligible borrower's federal income taxes, effectively creating additional income for the borrower to use in making mortgage payments; and WHEREAS, the Escambia Authority wishes to offer to homebuyers in the Participating Counties the benefits of a MCC Program in connection with the Escambia Authority's continued operation of the TBA Program within Escambia County and the Participating Counties; and WHEREAS, the Indian River Board desires to secure the benefits of the MCC program and the continued operation of the TBA Program to benefit the citizens and residents of Indian River County, NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: Section 1. Continued Operation of the TBA Program. Pursuant to the authority of Sections 163.01, 159.608 and 125.01, Florida Statutes, the Escambia Authority is hereby granted "area of operation" authority to continue to operate the TBA Program within Indian River County for the benefit of the citizens and residents of Indian River County. The Escambia Authority shall have full authority and responsibility to carry out the TBA Program in accordance with the parameters established by the Escambia Authority and the provisions of applicable law. Section 2. MCC Program. Pursuant to the authority of Sections 163.01, 159.608 and 125.01, Florida Statutes, the Escambia Authority is hereby granted "area of operation" authority to operate its MCC Program within Indian River County for the benefit of the citizens and residents of Indian River County. The Escambia Authority shall have full authority and responsibility to carry out the MCC Program in accordance with the parameters established by the Escambia Authority and the provisions of applicable law. Section 3. Term. The "area of operation" authority granted to the Escambia Authority shall continue until such time as it may be terminated by Resolution of the Indian River Board upon not less than ten (10) days written notice to the Escambia Authority. Section 4. Repealing Clause. 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parts thereof of the Board in conflict with the provisions herein contained are, to the extent of such conflict, hereby superseded and repealed.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 5. Effective Date. This resolution shall take effect immediately upon its adoption this 11 thlay of July , 2017 This Resolution was moved for adoption by Commissioner 0' Bryan , and the motion was seconded by Commissioner Flescher , and, upon being put to a vote, the vote was as follows: 2