1990-184 - Laserfiche WebLink

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WHEREAS, due to an insufficiency of available allocation amount in a timely manner from the State of Florida pursuant to Part IV, Chapter 159, Florida Statutes, the Issuing Authority was unable to obtain the necessary portion of the State Private Activity Bond Volume Allocation to issue the Bonds; and WHEREAS, the Issuing Authority expects to obtain the necessary Allocation Amount form the 1991 State Volume Allocation to issue the Bonds for a Single Family Mortgage Revenue Bond program for Escambia County, Indian River County and a number of participating counties throughout the State which may from time to time authorize the Issuing Authority to operate within such counties; and WHEREAS, pursuant to Section 147(f) of the Code a public hearing has been scheduled at a special meeting in Indian River County, and notice of such hearing was given in the form required by the Code; and WHEREAS, the Board of County Commissioners has authorized a public hearing on December 28. 1990 and provided 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 Resolution of the Issuing Authority and as required by Section 147(f) of the Code; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER FLORIDA; THAT: 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 Issuing Authority exercising its powers 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 Issuing 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. o co Section 2. In furtherance of the purposes set forth in Section 1 hereof co the Chairman or Vice -Chairman and Clerk of the Board of County Commissioners of Indian River County are hereby authorized to execute such consents, c intergovernmental agreements or other documents as shall be required to implement iv such single family housing program and to provide for payment of Indian River Q0 County's proportionate share of costs of issuance of such bonds, all as shall be approved by counsel to Indian River County.