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INDIAN RIVER COUNTY, FLORIDA <br />RESOLUTION NO. 89 -3,* <br />RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING <br />$7,560,000 AGGREGATE PRINCIPAL AMOUNT OF SPECIAL <br />ASSESSMENT REVENUE BONDS, SERIES 1989, OF INDIAN RIVER <br />COUNTY, FLORIDA, THE NET PROCEEDS OF WHICH WILL BE USED <br />TO MAKE A DEPOSIT INTO THE IMPACT FEE TRUST FUND OF THE <br />COUNTY FOR APPLICATION TO PAY FOR THE EXPANSION OF THE <br />SEWAGE DISPOSAL SYSTEM OF THE COUNTY, INCLUDING WITHOUT <br />LIMITATION THE ACQUISITION AND CONSTRUCTION OF A <br />PHYSICALLY INDEPENDENT SEWER SYSTEM TO BE KNOWN AS THE <br />"NORTH COUNTY WASTEWATER SYSTEM"; PROVIDING FOR THE <br />RIGHTS OF THE HOLDERS OF SUCH BONDS AND PLEDGING FOR THE <br />PAYMENT THEREOF THE PROCEEDS OF CERTAIN SPECIAL <br />ASSESSMENTS IN LIEU OF IMPACT FEES LEVIED BY THE COUNTY, <br />OR LEVIED BY OTHER PUBLIC BODIES AND PAYABLE TO THE <br />COUNTY PURSUANT TO AN INTERGOVERNMENTAL AGREEMENT, IN <br />EACH CASE IMPOSED AGAINST PROPERTY THE OWNERS OF WHICH <br />HAVE CONSENTED THERETO AND, AT THE OPTION OF THE COUNTY, <br />FROM OTHER LEGALLY AVAILABLE NON AD VALOREM TAX FUNDS; <br />AND PROVIDING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY, FLORIDA, that: <br />SECTION 1. AUTHORITY FOR THIS RESOLUTION. This resolution is <br />adopted pursuant to Ordinance No. 86-88 of the County, applicable provisions of <br />Article VIII, Section 1, Florida Constitution (1968), Chapter 125, Florida <br />Statutes (1988), and other applicable provisions of law. <br />SECTION 2. DEFINITIONS. Unless otherwise defined herein, the terms <br />used herein shall have the meanings ascribed to them in Ordinance 86-88 of the <br />County. The following terms shall have the following meanings in this <br />Resolution unless the context otherwise clearly requires: <br />A. "Act" shall mean, collectively, Ordinance No. 86-88 <br />County, applicable provisions of Article VIII, of the <br />Section 1, Florida Constitution <br />(1968), Chapter 125, Florida Statutes (1988), and other applicable provisions <br />of law. <br />B, "Assessments" shall mean the special assessments in lieu of <br />impact fees levied upon property, with the consent of the property owners, <br />pursuant to Ordinance No. 86-88, Resolution No. 87-142, Resolution No. 89-12 and <br />