1962-014 - Laserfiche WebLink

Home Browse Search

Cow"INI 'f!0 =nae ,ON Dial" SIM COWIV* Me! AND ilia �M ' 88 IT RESOLVED that the Hoard ad County Caunissieners ag Isdian River County, Florida, does hereby redwrt the Florida Dsvelopasat Cos• mission to issue and sell interest boWUM beads in the arms of $400,000 - in its own name for and on behalf of Indian liver County, Florida, far the purpose of financing the construction of roads sad bridges within Indian River County, Florida, and the acquisitica of rights of way for such roads and bridges, as follovs: (1) Construction of a bridge over the Sebastian Inlet in part; (2) Construction of approaches, in part, to such bridge; (3) Construction of State Road A -1-A from such approaches southerly to that part thereof which is already paved. i bf IT FURTHER RESOLVED that said interest bearing bonds be issued for a term of five (5) years, repayable $45,000 at the end of the first year, $80,000 at the end of the second year, $85,000 at the end of the third year, $90,000 at the end of the fourth year and $100,,000 at the end of the fifth year, at a rate of interest not to exceed 5% per anus. BE IT FURTHER RESOLVED that the Florida Development Commission construct said bridges by and through its statutory agent, state Road Department of the State of Florida. BE IT FURTHER RESOLVED that all such bosds,issued by the Florida Development Commission pursuant to this resolution, be secured by and payable, as to both principal and interest, vhoaly from the 80% surplus gas tax accruing to the benefit of Indian River County, Florida, under the provisions of Section 18, Article IR, of the State Constitution.