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<br />USDA•FrnHA FORM A"110'4o
<br />norm Fro1{A 194247 LOAN RESOLUTION No. -153 00,411 NO.01'"(sto
<br />May. 349) (Public fiodtae)
<br />A RESOLUTION OP THE __BOARD OF COUNTY COMMISSIONERS
<br />OP THE: COUNTY OF INDIAN RIVER, FLORIDA
<br />AUTHORIZING AND PROVIDING FOR THE INCURRCNCTJ OF INDPOTEDNI!55 FOR THE PURPOSC OF PROVIDING A
<br />PORTION OF THE COST OF ACQUIRING, CONSTRUCTING, ENLARGING, IMPROVINCJ, AND/OR EXTENDING ITS
<br />COMBINED WATER ANI) SI'MR SYSTEM
<br />FACILITY TO SERVE AN AREA )-AWFULLY WITHIN ITS JURISDICTION TO SERVO
<br />WHERE.AS,It Is necessary for the County of lndian River, Florida
<br />(&Nf,
<br />(herein after called auodadon) to tilt* a,portion or the cost of sueh undertaking by t"wrice of fit bonds In the principal remount of
<br />Four Hundred Fifty Thousand Dollars ($450,000)
<br />pvnuent 10 the provisions of a r"e o�.utdost
<br />WHEREAS, the association Intends to obtain atslitince from the Farmers Boma Administration, Unfled Statts Rapsonvont of Aiiricul-
<br />tura, (herein colied the Govetnment) acting under the provisions of the Consolidated Farm and Ruta, Dertlopment Act (7 U.S.C. 1921
<br />et seq.) In the planning, financing, and supctvislon or such undertaking and to purchasing of bonds lawfully ittucd, In the event that nu
<br />other accaptablo purchaser for such bonds Is found by the ssiodilion:
<br />NOW THEREFORE, in cohlldetition of 14* promises the association hereby rtioivet.
<br />I To hawptapered on Its behalf and to adopt an ordinenco.ot resolution for the luuince ofits bonds and containing such
<br />Items and in such forms aro required by STATE stitutot and it ata agt*sblo and accoptiblo to the Govtrnnxni.
<br />2. To renninoo the unpaid b0trIct, in whole or In ppe�rt, of its bonds upon the rtqucit of the Govtrnmeni if at Any time it
<br />shall apPast to the Government that the issocfttton It Able to rennance Its bonds by obtsining a loin for such ur"ss
<br />from responsiblo cooperative of privet, sourcoi it reasonable totes and terms tot loins for similarurppootat And Periods
<br />of dme as required by section d39(c) of tied Consolidated Farm And Rural Dovalopmant Act (7 U.S,J 1983(c)).
<br />J. To protide for, *x*eutt, and comply cvlth Form PmHA 400-4, "Assurinca Agreement"; end Form FmIIA 4004 "£uta
<br />Opportunity Agreement", including in "Equal Opportunity Clause", which clans* it to be Incorporated in, or att"E d
<br />as a rider to,ear,h construction contract end tubcontract Involving in ex"ti of sioXo.
<br />A. To tnd*mnfry the Govtr-nrnont rot any payments made or fosses suffered by Ilio Govcmment on bthilf of the .
<br />issociatl
<br />Such Indemnification shall be payable from the same sourc* or funds pledgtd to pay the bwids or any othor itpel onon.
<br />mitsibls source,
<br />S. That upon dertutt in Ilia payments of any poncipAt and accrued interest on the bonds or in the perrorminet of any cov.
<br />avant or agreement contained hertin or to the Instrument Incident to making or insuring tha loan, the Goverrimcni U
<br />Ito oplton may (i) declare the entire principal amount then outstanding and Accrued Interest Immodiately due and lay.
<br />able (b) for the account of the issotiatlon (payable from the sourco of funds pledged to pay the bonds or any other
<br />Iogally ppeermissible source) incur and fwy reasonable expenses rot repair, maintenance, And oporAtion or the facility and
<br />such other reaaoneblc expenses as may be necessary to cure the cAuse of detudt, and/or (c) lake potlassion or the fsdhty,
<br />ropilt, maintain, and operate or rent it. Default under the provisions of this Resolution or any lnsiturrunt Inddent to the
<br />m&Mn; or insuring of the loan may be construed by the GMornmsnt to constltuto deratdt under any other Instrumont
<br />hold by the Government and executed or astumod by the Association, and default under any such lnstrunxni mAy be
<br />construed by the Government to comiltute default hereunder,
<br />6. Not to sell, trintfer, lease, or otherwise encumber the facility of any Ivrilon thertor, or interest therein, not porr�t others
<br />to do so, without the prior written consent of the Government.
<br />7. Not to borrow any money front any source, enter into Any contract or agreement, or incur Any other liabilities In con.
<br />nsction with mAking enlargements, Improvements or extensions to,mor rot Any other putpota in contr►etion w
<br />(AcUiy w (excluilor normil main(enance) without the prior written coont of tht Government it such unith the
<br />dortaki w would
<br />involve the source of funds pledged to pry the bonds.
<br />8. To place the proceeds or tilt bonds on deposit In an Account and In is manner approved by the Govarorv%ant, Punda may bt
<br />deposited in Institutions Insured by the State or Federal Government or invested In rcadlfy marketable ►rciritici backed by
<br />the full filth and credit of the United Starts. Any income from thele attoutus will bo considered as otthe tystam,
<br />9. To eumply with all applicable State and Frevenues
<br />Cdc(AI laws and regulations and to continually aparatt and inaues of the fecUlsy
<br />In good condition,
<br />10. To provide for the receipt or adequate revenues to meet the requlrenitnta of debt sertice, oporation and imIntenince, and
<br />the establishment of adequate restrvcs. Revenue Accumulated over and above that needed to Pay ofxrsting and m.Ainte.
<br />used
<br />to pay debt
<br />expensses wlilchreserves
<br />nsot dirrectly Incurred byrti eafacilityannanrcc4 by FmHA,tNoments on hei(ice service or use of toan. I(tNenuc cin nothe ft il•
<br />Ity will be permitted.
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