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RESOLUTION 2018- 108
<br /> A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
<br /> INDIAN RIVER COUNTY, FLORIDA, APPROVING INDIAN RIVER
<br /> COUNTY AS AN AREA OF OPERATION FOR THE ESCAMBIA COUNTY
<br /> HOUSING FINANCE AUTHORITY WITH RESPECT TO THE FINANCING
<br /> OR REFINANCING BY THE AUTHORITY OF THE ACQUISITION,
<br /> UPGRADING, RECONDITIONING, REHABILITATING, IMPROVING AND
<br /> BEAUTIFYING OF A MULTI-FAMILY HOUSING FACILITY LOCATED IN
<br /> INDIAN RIVER COUNTY; PROVIDING FOR REPEAL OF CONFLICTING
<br /> PROVISIONS; AND PROVIDING AN EFFECTIVE DATE.
<br /> BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN
<br /> RIVER COUNTY, FLORIDA,
<br /> SECTION 1. AREA OF OPERATION AUTHORITY.
<br /> Pursuant to Section 159.603, Florida Statutes, the Escambia County Housing Finance
<br /> Authority (the "Escambia Authority") previously has been granted area of operation permission
<br /> within Indian River County, Florida, for the purpose of operating its TBA single-family mortgage
<br /> loan program and its mortgage credit certificate program. In addition, the Escambia Authority is
<br /> hereby granted area of operation authority, pursuant to Section 159.603, Florida Statutes, to operate
<br /> within Indian River County for the purpose of financing or refinancing the costs of acquiring,
<br /> upgrading, reconditioning, rehabilitating, improving and beautification by Orange Blossom Village,
<br /> LLLP, a Florida limited liability limited partnership, or its affiliate or subordinate corporation (as
<br /> applicable, the "Company"), or a limited liability company of which the Company is the managing
<br /> member or a limited partnership of which the Company is the general partner (as applicable, the
<br /> "Borrower"), of an existing multifamily rental housing facility presently containing 80 units known
<br /> as the Orange Blossom Apartments, located at 3300 12th Court, Vero Beach, Florida 32960 (the
<br /> "Apartments"), to provide residential rental housing facilities for persons of very low, low, middle,
<br /> and moderate income.
<br /> SECTION 2. NO LIABILITY
<br /> No portion of this Resolution shall be deemed to constitute a debt, liability or obligation of
<br /> or pledge of the faith and credit of Indian River County, Florida, the Escambia Authority, the State
<br /> of Florida, or any political subdivision thereof. Financing or refinancing the Apartments shall not
<br /> directly, indirectly, or contingently obligate the Escambia Authority, Indian River County, Florida,
<br /> the State of Florida, or any political subdivision thereof to levy or to pledge any form of taxation
<br /> whatsoever therefore, or to make any appropriation for the payment thereof.
<br /> SECTION 3. REPEALING CLAUSE.
<br /> All resolutions or parts thereof of the Board in conflict with the provisions herein contained
<br /> are,to the extent of such conflict,hereby superseded and repealed.
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