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Commissloner-% of the Participating County adopted on ; _ _ -_< <. Iqq� (thr ..County Resoltition' ): and W ERRAS. Sections 163.01, Iri9OOS and 125.01. Florida Statutes. and the County Resolution authorise this Agreement by conferring the authority to e"Serctae or contract by agreement upon the F_s ambia Authority to exercise those powers which are common to It and the other parties hereto and to include the Participating County within the 1*scambla Authority's area of operation pursuant to Florida Statutes. Section 159.603(1) for the purpose of issuing bonds based on the Allocation Amount to (1) make available funds to finance qualifying single family housing development located within the Participating County in accordance herewith, (2) establish the reserves therefor, and (3) pay the costs of issuance thereof (collectively, the "Program'). NOW TEMREFORE, the parties agree as follows: Section 1. Allocation Amount: Substitution of Bonds. The Participating County hereby authorizes the Escambia Authority to issue Single Family Mortgage Revenue Bonds from time to time based on the Allocation Amount for the purpose of financing the program and making funds available for qualifying single family housing developments in the Participating County. Any 1996 Escambia Bonds issued for such purposes in the Participating County are hereby deemed to be in full substitution for an equivalent principal amount of the Participating County's bonds which could have been issued for such purpose. The Participating County hereby authorizes the Escambia Authority to utilize the Participating County's Allocation Amount on behalf of the Participating County for the purpose of financing the Program.. including, among other things, funding of qualifying single family mortgages in the Participating County. and the Escambia Authority is hereby designated as the bond Issuing authority for the Participating County during the Authorization Period with respect to such Allocation Amounts. 'laic proceeds of the Bonds shall be allocated and applied to the funding of mortgage loans within the various Participating Counties and for reserves and the payment of costs of issuing the Bonds, all in accordance with final program documents approved by the Escambia Authority. All revenues generated by bonds issued pursuant to this Agreement and by the use of the proceeds thereof. will be administered by the Escambia Authority or its agents and all payments due from such revenues shall be paid by the Escambia Authority or its agents without further action by the Participating County. Section 2. Administration. The Eacnmbla Authority hereby assumes responsibility for administering this Afreement by and through Its employees. agents and officers: provided, however. that the Participating County retains and reserves its right and obligation to rrquire reasonable reporting on programs designed for std oper-Med within the Participating County, ineiudu% but not U -need. to. 3VAilahle mori,s;+gor or profile data. 7Tre F_scanibia Authority and its agetW l i(mcir ti,r I'anit°ipatingCounty with such irla;rris as may be necessary to account for t1115ti' i@erlrrAt ed Ir}y this Agrretnenl• 'mr vocnio b Authority shall L�,4ye hA autho ter and tan 1 rra<ri Late, deeLm fit. mtist at. sdi. issut std ddhw as aortia in Ms WANWitais low A, 1tx at10R AMNOWL basad WPM asssfgyr laity deasaod. pAoltad hV � to feeatos. 0 ti ;' � M W tt 1 Qsianly and w 4O b-uib a1W g=n • uW be teer ar aOW �jep Qwa� oq a� Ib ilia d � 4100811111 saft"tr it �r +� rte. fi rs goat OW dr A4v—aa NMA W OF dnM w itias •ar Cam O atiitl siting i':.' t'Auman ft=" slam dr sur 6 A air e • Mt . s. it, .., :. r [-, am nmm 46,0� -