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loans. It will help in the SHIP program. We are in District 9B <br />with St. Lucie, Martin, Escambia and Indian River Counties and <br />Indian River County residents would not be eligible if we do not <br />get involved. The funds stay in Indian River County 120 days then <br />spread to other counties if not used. Staff is recommending the <br />County stay with the same program being used in St. Lucie and <br />Escambia Counties. This program reaches a wider spectrum of <br />families as the maximum purchase price is up to $130,000 for new <br />purchasers. <br />Commissioner Bird felt we should move ahead with this and he <br />expressed his hope that good publicity will be attached to it. <br />Director Baird explained that the public hearing has been <br />scheduled for December 20, 1994. <br />THE CHAIRMAN CALLED THE QUESTION: It was voted on <br />and carried by a 4-0 vote, Commissioner Eggert being <br />absent. <br />RESOLUTION NO. 9A_-1 5 3 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMIVIISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, AUTHORIZING THE ESCAMBIA COUNTY <br />HOUSING FINANCE AUTHORITY TO OPERATE WITHIN <br />THE BOUNDARIES OF INDIAN RIVER COUNTY; <br />AUTHORIZING THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, TO ENTER INTO AGREEMENTS WITH THE <br />ESCAM 31A COUNTY HOUSING FINANCE AUTHORITY; <br />APPROVING A FORINT OF INTERLOCAL AGREEMENT; <br />APPROVING TIE ISSUANCE BY TIM ESCAMBIA <br />COUNTY HOUSING FINANCE AUTHORITY OF NOT <br />EXCEEDING $60,000,000 SINGLE FAMILY MORTGAGE <br />REVENUE BONDS, SERIES 1995 (MULTI -COUNTY <br />PROGRAM), PURSUANT TO SECTION 14700 OF- THE <br />INTERNAL REVENUE CODE OF 1986, AS AMENDED; <br />AND PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, Chapter 159, Part IV, Florida Statutes (the "Act") authorized <br />counties to create housing finance authorities to exercise powers of the Act within <br />their boundaries or outside their boundaries with the consent of the governing body of <br />the territory outside their area of operation; and <br />WHEREAS, the Board of County Commissioners of Escambia County, Florida, <br />on May 29, 1980, adopted Ordinance No. 80-12, by which it created the Escambia <br />County Housing Finance Authority (the "Authority") and authorized the Authority to <br />exercise all powers under the Act: and <br />28 <br />DECEMBER 6, 1994 <br />