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<br />RESOLUTION NO. 93- 149 <br /> <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, ESTABLISHING ITS INTENT TO <br />REIMBURSE CERTAIN EXPENDITURES FOR THE <br />ACQUISITION OF ENVIRONMENTALLY SIGNIFI- <br />CANT LAND WITH THE PROCEEDS OF BORROW- <br />ING TO BE MADE IN THE FUTURE. <br />WHEREAS, the electorate of Indian River County have voted in <br />favor of the issuance of general obligations bonds in an aggregate <br />principal amount not to exceed $26,000,000.00 for the purpose of <br />financing the cost of acquiring environmentally significant land to <br />protect water quality, open spaces and wildlife habitat in the County; <br />and <br />WHEREAS, certain expenditures are contemplated to be paid from <br />the general revenue fund of the County prior to the issuance of the <br />bonds; and <br />WHEREAS, the County intends to reimburse the general fund for <br />those expenditures with the proceeds of the bond sale, <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF <br />COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA <br />that: <br />1. Indian River County will make certain expenditures looking <br />toward the acquisition of environmentally significant lands. Said <br />expenditures shall include without limitation expenditures for the <br />direct costs of acquisition of environmentally significant lands, for <br />fees, expenses and costs of environmental experts, consultation and <br />advisors, for real estate appraiser and for other items directly related <br />to lands acquired or considered for acquisition. Said expenditures <br />will occur prior to the issuance of the general obligation bonds. <br />These expenditures, therefore, will perforce be provided by the <br />general fund. <br />2. The County intends to reimburse the general fund for said <br />expenditures with a portion of the proceeds of the bond sale referred <br />to herein. <br />3. This resolution shall constitute a "Declaration of Official <br />Intent" within the meaning of Section 1.103-18 of the Income Tax <br />Regulations. <br />