2/26/2021 10:21:03 AM
1/26/2021 11:33:47 AM
Escambia County Housing Finance Authority
Agreement with Escambia County Housing Autority and the Local Agreement
Not to exceeding $60,000,000 for Single Family Mortage Revenue Bonds
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WHEREAS, due to an insufficiency of available allocation amount in a timely <br />manner from the State of Florida pursuant to Part IV, Chapter 159, Florida <br />Statutes, the Issuing Authority was unable to obtain the necessary portion of the <br />State Private Activity Bond Volume Allocation to issue the Bonds; and <br />WHEREAS, the Issuing Authority expects to obtain the necessary Allocation <br />Amount form the 1991 State Volume Allocation to issue the Bonds for a Single <br />Family Mortgage Revenue Bond program for Escambia County, Indian River County and <br />a number of participating counties throughout the State which may from time to <br />time authorize the Issuing Authority to operate within such counties; and <br />WHEREAS, pursuant to Section 147(f) of the Code a public hearing has been <br />scheduled at a special meeting in Indian River County, and notice of such hearing <br />was given in the form required by the Code; and <br />WHEREAS, the Board of County Commissioners has authorized a public hearing <br />on December 28. 1990 and provided at such hearing reasonable <br />opportunity for all interested individuals to express their views, both orally <br />and in writing, on the issuance of the Bonds; and <br />WHEREAS, the Board diligently and conscientiously considered all comments <br />and concerns expressed by such individuals; and <br />WHEREAS, the Board desires to express its approval of the action to be <br />taken pursuant to the Resolution of the Issuing Authority and as required by <br />Section 147(f) of the Code; <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER FLORIDA; THAT: <br />Section 1. Because of the continuing shortage of affordable single family <br />housing and capital for investment therein in Indian River County and the <br />continuing impediments to a bond issue to alleviate such shortages as to single <br />family housing, it is hereby determined that the Board of County Commissioners <br />of Indian River County consents to the Issuing Authority exercising its powers <br />to issue the Bonds and to implement a program from a portion of the proceeds of <br />the Bonds to finance single family housing within the statutory boundaries of <br />Indian River County; provided, that the Issuing Authority and Indian River County <br />first enter into a written agreement setting forth the powers, duties and <br />limitations of the Authority as they pertain to the use of said bond proceeds <br />within Indian River County and payment of the issuance costs for such bonds. o <br />co <br />Section 2. In furtherance of the purposes set forth in Section 1 hereof co <br />the Chairman or Vice -Chairman and Clerk of the Board of County Commissioners of <br />Indian River County are hereby authorized to execute such consents, c <br />intergovernmental agreements or other documents as shall be required to implement iv <br />such single family housing program and to provide for payment of Indian River Q0 <br />County's proportionate share of costs of issuance of such bonds, all as shall be <br />approved by counsel to Indian River County. <br />
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