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®® <br />RESOLUTION NO, 77-82 <br />® WHEREAS, for a number of years URBAN DEVELOPMENT UTILITIES, <br />INC., hereinafter referred to as "U.D.U,", has operated a private <br />® Sewer and Water Franchise in violation of State and Federal <br />Regulations; and <br />WHEREAS, currently U.D.U. is unable to provide palatable <br />water in its Franchise area due to poor source wells, inadequate <br />i <br />treatment facilities and deteriorated distribution lines; and <br />WHEREAS, the sewer treatment plant and necessary collection <br />lines are presently in such a deplorable state of disrepair that <br />effluent remains uncollected and untreated for lengthy periods <br />of time; and <br />WHEREAS, the Farmers Home Administration originally funded <br />the construction of both water and sewer systems and has kept <br />close ties with U.D.U. since the facilities were completed; and <br />WHEREAS, despite repeated requests from state and county <br />government, the Farmers Home Administration and U.D,U, have <br />failed to up -grade the water and sewer facilities to acceptable <br />standards; and <br />WHEREAS, on January 16, 1976 Indian River County entered into <br />a contract with U.D.U. and Farmers Home Administration, which contract <br />provided an up -grading of sewer and water services to the U.D.U. <br />franchise area; and <br />WHEREAS, U.D.U. and Farmers Home Administration have defaulted under <br />the terms of the January 16, 1976 contract and it is clear to the <br />Board of County Commissioners of Indian River County, Florida that <br />U.D.U. and the Farmers Home Administration will not, in the future, <br />perform their obligations under the contract; <br />WHEREAS, there remains an outstanding obligation from U.D.U. to <br />Farmers Home Administration in the amount of approximately FIVE HUNDRED <br />THOUSAND ($500,000.00) DOLLARS, which obligation can never reasonably <br />be retired from the sewer and water revenues received by U.D.U.; and <br />