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12/05/94 17:04 %2904 432 0077 MCI, and S & I. X003/010 activity bonds by an applicable elected representative or governmental unit following a public hearing and the Board of County Commissioners of Indian River County Florida (the "Board"), constitutes an applicable elected representative or governmental unit; and WHEREAS, pursuant to Section 147(f) of the Code a public Bearing has been scheduled before the Board for December 20, 1994, and notice of such hearing has been given in the form required by the Code; and WHEREAS, the Board will on December 20, 1994, hold the public hearing and will provide at such hearing reasonable opportunity for all interested individuals to express their views, both orally and in writing, on the issuance of the Bonds; and WHEREAS, the Board diligently and conscientiously considered all comments and concerns expressed by such individuals; and WHEREAS, the Board desires to express its approval of the action to be taken pursuant to the Escambia Resolution and as required by Section 147(f) of the Code; NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA; Section 1. Because of the continuing shortage of affordable single family housing and capital for investment therein in Indian River County and the continuing impediments to a bond issue to alleviate such shortages as to single family housing, it is hereby determined that the Board of County Commissioners of Indian River County consents to the Authority exercising its poNvers to issue the Bonds and to implement a program from a portion of the proceeds of the Bonds to finance single family housing within the statutory boundaries of Indian River County; provided, that the Authority and Indian River County first enter into a written agreement setting forth the powers, duties and limitations of the Authority as they pertain to the use of said bond proceeds within Indian River County and payment of the issuance costs for such Bonds. Section 2. In furtherance of the purposes set forth in Section 1 hereof the Chairman or Vice -Chairman and Clerk or Deputy Clerk of the Board are hereby authorized to execute such consents. intergovernmental agreements or other documents as shall be required to implement such single family housing program and to provide for payment of Indian River County's proportionate share of costs of issuance of such Bonds, all as shall be approved by counsel to Indian River County. Section 3. The Interlocal Agreement, in substantially the form attached hereto as Exhibit "A", and made a part hereof, between Indian River County and the Authority is hereby approved. The officers of Indian River County are, hereby authorized to enter into the Interlocal Agreement on behalf of Indian River County. Section 4. The Board hereby approves, within the meaning of Section 147(f) of the Code, the issuance by the Authority of not exceeding $60,000,000 Single Faintly Mortgage Revenue Bonds, Series 1995 (Multi -County Program), and such other action to be taken pursuant to the Escarnbia Resolution. Section 5. All ordinances and resolutions or parts thereof of the Board in conflict with the provisions herein contained are, to the extent of such conflict, hereby superseded and repealed. MCI.-OU/13/94 Rev -1 2/05/94.6102.1 NDI.13CC Z