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RESOLUTION NO. 93 - 66 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN EXPENDITURES IN CONNECTION WITH THE PHASE II WATER MAIN EXTENSION PROJECT FROM THE PROCEEDS OF FUTURE BOND ISSUES; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, Indian River County, Florida (the "County") expects to make certain expenditures in connection with the Phase II Water Main Extension Project of the County; and WHEREAS, the County intends to reimburse itself for said expenditures from the proceeds of future bond issues. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF Indian River County, FLORIDA that: 1. The County expects to make certain expenditures in connection with the Phase II Water Main Extension Project of the County (the "Project"). The County intends to finance said expenditures by the issuance of one or more future bond issues. Some or all of said expenditures are expected to be paid prior to the issuance of said future bond issues. Therefore, said expenditures will be paid from the Utility Operating Fund, the Utility Impact Fee Fund and the Utility Special Assessment Project Fund of the County. The County intends to reimburse said funds for said expenditures out of the proceeds of said future bond issues. The maximum principal amount of said future bond issues expected to be used for said reimbursements is $1,661,273. Said expenditures include without limitation expenditures for the acquisition, construction, furnishing and equipping the Project, for reports, studies and projections in connection with the Project, for engineering, surveying and legal work in connection with the Project and for other items directly related to the Project. 2. This Resolution shall constitute a "Declaration of Official Intent" within the meaning of Section 1.103-18 of the federal income tax regulations. 3. The Clerk of the Board of County Commissioners of the County is hereby directed to make a copy of this Resolution available for public inspection during regular business hours at the Office of the Clerk in the County Administration Building beginning no later than thirty (30) days following the adoption of this Resolution and to keep the same available for public inspection at such place and during such hours until the date upon which the bond issues herein mention are issued and delivered by the County. This Resolution shall take effect immediately upon its adoption.