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M M <br />ORDINANCE NO. 95-16 <br />SECTION 2. AUTHORITY FOR ORDINANCE <br />This ordinance is enacted pursuant to Article VIII, <br />Section 1, Florida Constitution (1968), Chapter 125, Florida <br />Statutes, and other applicable provisions of law., <br />SECTION 3. FINDINGS <br />It is hereby found, determined and declared by the Board <br />of County Commissioners (the "Board") of Indian River County, <br />Florida (the "County") as follows: <br />A. Pursuant to Article VIII, Section 1, Florida <br />Constitution (1968), and Chapter 125, Florida Statutes, the County <br />` has all powers of local self-government to perform county functions <br />and to render county services in a manner not inconsistent with <br />general or special law, and such power may be exercised, among <br />other ways, by the enactment of county ordinances. <br />B.- -It is necessary for the public health, safety, and <br />general welfare of the County and its citizens that provision be <br />made (1) to acquire, construct, improve, and equip from time to <br />time capital projects which serve a county purpose, and (2) to <br />finance the cost of such projects by the issuance of certain <br />obligations, as described below. <br />C. Section 125.31(1), Florida Statutes, authorizes a <br />county to enact an ordinance specifying investments for surplus <br />public funds in pits control or possession, if the desired <br />investments are not otherwise set forth in Section 125.31, Florida <br />Statutes. <br />D. The County desires maximum flexibility in the <br />investment of proceeds from the sale of its obligations and the <br />security for payment of its obligations. <br />E. Notice of intent to consider this ordinance has been <br />published and made. available to the public for inspection in the <br />manner provided by law. <br />11 eooK 95 F-nUE 711 <br />July 18, 1995 <br />