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1979-043
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1979-043
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2/16/2023 3:12:53 PM
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Resolutions
Resolution Number
1979-043
Approved Date
05/09/1979
Subject
Declaring need for a Housing Finance Authority
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contained in any contract of the housing finance authority with or for the <br />benefit of such obligee and to require the carrying out of any or all of the <br />covenants and agreements of the housing finance authority and the fulfillment <br />of all duties imposed upon the housing finance authority by this act. <br />(2) By suit, action, or proceeding in equity, to enjoin any acts or <br />things which may be unlawful or the violation of any of the rights of the <br />obligee by the housing finance authority. <br />Section 18. Additional remedies conferrable by a housing finance <br />authority. --A housing finance authority shall have power by resolution, trust <br />indenture, or other contract to confer upon any obligee holding or <br />representing a specified amount in bonds, the right, in addition to all rights <br />that may otherwise be conferred, upon the happening of an event of default as <br />defined in such resolution or instrument, by suit, action, or proceeding in <br />any court of competent jurisdiction: <br />(1) To obtain the appointment of a receiver of any payments made <br />pursuant to any loan agreement or sale of any loan. If such receiver be <br />appointed, he may collect and receive all payments made pursuant to any such <br />loan agreement or sale of any loan or loan commitment and shall keep such <br />moneys in a separate account or accounts and apply the same in accordance with <br />the obligations of said housing finance authority as the court shall direct. <br />(2) To require the housing finance authority and the members thereof to <br />account as if it and they were the trustees of an express trust. <br />Section 19. Availability of financing. --As long as a shortage of housing <br />exists, a housing finance authority shall not unreasonably refuse to <br />participate in the financing of any qualifying housing development upon <br />request. <br />Section 20. Liabilities of a housing finance authority. --In no event <br />shall the liabilities, whether ex contractu or ex delicto, of a housing <br />finance authority arising from the financing of any qualifying housing <br />development be payable from any funds other than the revenues or receipts of <br />such qualifying housing development. <br />Section 21. Housing bonds exempted from taxation. --The bonds of a <br />housing finance authority issued under this act, together with interest <br />thereon and income therefrom, shall be exempt from all taxes. The exemption <br />granted by this section shall not be applicable to any tax imposed by chapter <br />220, Florida Statutes, on interest, income, or profits on debt obligations <br />owned by corporations. <br />
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