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z <br />� yi ,s,t � A/]A/A4l. 7t1agnl/bc.nd)ttLH()/Vh <br />RESOLUTION NO. 92-146 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, AUTHORIZING THE ISSUANCE OF <br />GENERAL OBLIGATION BONDS OR NOTES OF <br />INDIAN RIVER COUNTY, FLORIDA, IN ONE OR <br />MORE SERIES, IN AN AMOUNT NOT -TO -EXCEED <br />$26,000,000 TO FINANCE THE COST OF ACQUIRING <br />ENVIRONMENTALLY SIGNIFICANT LAND TO <br />PROTECT WATER QUALITY, OPEN SPACES, AND <br />WILDLIFE HABITAT; CALLING FOR AND <br />PROVIDING FOR A BOND REFERENDUM OF THE <br />QUALIFIED ELECTORS RESIDING IN THE COUNTY <br />TO BE HELD ON NOVEMBER 3, 1992, ON THE <br />QUESTION OF THE ISSUANCE OF SUCH GENERAL <br />OBLIGATION BONDS OR NOTES; AND PROVIDING <br />FOR CERTAIN MATTERS WITH RESPECT THERETO <br />AND AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, that: <br />SECTION 1. AUTHORITY FOR THIS RESOLUTION <br />This resolution is adopted pursuant to Section 125.01, Florida Statutes, <br />Chapter 100, Florida Statutes, and other applicable provisions of law. <br />SECTION 2. AUTHORIZATION OF BONDS <br />Subject and pursuant to the provisions hereof, general obligation bonds <br />or notes (herein "bonds") of the County of Indian River, Florida (herein <br />"County") are authorized to be issued in one or more series in the aggregate <br />principal amount not -to -exceed twenty-six million dollars to finance the cost <br />of acquisition of environmentally significant land to protect water quality, <br />open spaces, and wildlife habitat; together with other purposes necessary, <br />appurtenant, or incidental thereto, including all costs of the issuance of the <br />bonds. Such bonds shall be payable from ad valorem taxes levied without <br />limitation as to rate or amount on all taxable property in the County and <br />shall be structured in such a manner that at the time of issuance the millage <br />rate required to make the maximum annual payments shall not exceed 1/2 <br />mill. Such bonds shall bear interest at the rate or rates not exceeding the <br />maximum rate permitted by applicable law at the time of the sale of the <br />bonds, to be determined upon sale of the bonds. None of the bonds shall <br />be issued for a term longer than 15 years from their date of issuance. <br />-1- <br />