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RESOLUTION NO. <br />A RESOLUTION OF THE BOARD OF COUNTY COXXXSBIONERS OF <br />IWDIAN RIVER COUNTY, FLORIDA, ESTABLISHING ITS INTENT <br />TO REIMBURSE CERTAIN EXPENDITURES IN CONNECTION WITH <br />THE C.R. 510 FORCE MAIN FROM THE BEACH AREA TO U.B. <br />HIGHWAY ONE FROM THE PROCEEDS OF FUTURE BOND ISSUES, <br />AND PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, Indian River County, Florida (the County) expects <br />to make certain expenditures in connection with the C.R. 510 <br />Force Main from the Beach Area to U.S. Highway One Project <br />of the County; and, <br />WHEREAS, the County intends to reimburse itself for said <br />expenditures from the proceeds of future bond issues; <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: <br />1. The County expects to make certain expenditures in <br />connection with the C.R. 510 Force Main from the Beach <br />Area to U.S. Highway One Project of the County (the <br />Project). The County intends to finance said <br />expenditures by the issuance of one or more future bond <br />issues. Some or all of said expenditures are expected <br />to be paid prior to the issuance of said future bond <br />issues. Therefore, said expenditures will be paid from <br />the Utility Operating Fund, the Utility Impact Fee <br />Fund, and the Utility Special Assessment Project Fund <br />of the County. The County intends to reimburse said <br />funds for said expenditures out of the proceeds of said <br />future bond issues. The maximum principal amount of <br />said future bond issues expected to be used for said <br />reimbursement is $1,000,000. Said expenditures include <br />without limitation expenditures for the acquisition, <br />construction, furnishing, and equipping the Project; <br />for reports, studies, and projections in connection <br />with the Project; for engineering, surveying, and legal <br />work in connection with the Project; and for other <br />items directly related to the Project. <br />