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RESOLUTION NO. 84-.--46 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, ESTABLISHING ITS INTENT TO REIM- <br />BURSE CERTAIN EXPENDITURES IN CONNECTION <br />WITH THE PHASE V WATER MAIN EXTENSION <br />PROJECT FROM THE PROCEEDS OF FUTURE BOND <br />ISSUES, AND PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, Indian River County, Florida, (the County) expects to make <br />certain expenditures in connection with the Phase V Water Main Extension <br />Project of the County; and <br />WHEREAS, the County intends to reimburse itself for said expenditures <br />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 connection with <br />the Phase V Water Main Extension Project of the County (the Project) . <br />The County intends to finance said expenditures by the issuance of one <br />or more future bond issues. Some or all of said expenditures are <br />expected to be paid prior to the issuance of said future bond issues. <br />Therefore, said expenditures will be paid from the Utility Operating <br />Fund, the Utility Impact Fee Fund, and the Utility Special Assessment <br />Project Fund of the County. The County intends to reimburse said <br />funds for said expenditures out of the proceeds of said future bond <br />issues. The maximum principal amount of said future bond issues <br />expected to be used for said reimbursement is $1,800,000. Said <br />expenditures include without limitation expenditures for the acquisition, <br />construction, furnishing, and equipping the Project; for reports, <br />studies, and projections in connection with the Project; for engineering, <br />surveying, and legal work in connection with the Project; and for other <br />items directly related to the Project. <br />2. This resolution shall constitute a "Declaration of Official Intent" within <br />the meaning of Section 1.103-18 of the federal income tax regulations. <br />3. The Clerk of the Board of County Commissioners of the County Is <br />hereby directed to make a copy of this resolution available for public <br />Inspection during regular business hours of the Office of the Clerk In <br />