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RESOLUTION NO. 82- i23 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA, PROVIDING FOR THE <br />ISSUANCE OF GENERAL OBLIGATION BONDS OF INDIAN RIVER <br />COUNTY, FLORIDA, NOT TO EXCEED $5,000,000 TO PAY <br />THE COST OF THE ACQUISITION OF BEACHFRONT LAND ON <br />THE AT7.ANTIC OCEAN IN THE COUNTY, AND CONTAINING <br />OTHER PROVISIONS RELATING TO SUCH BONDS. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA (hereinater respectively called the <br />"Board" and the "County"), that: <br />SECTION 1. AUTHORITY FOR THIS RESOLUTION. This resolu- <br />tion is adopted pursuant to Chapter 125, Florida Statutes, and <br />other applicable provisions of law. <br />SECTION 2. FINDINGS. It is hereby found, determined <br />and declared as follows, that: <br />A. It is necessary, desirable, and in the best interest <br />-bf`'rndian-River County, Florida, ani' its inhabitants that general <br />obligation bonds in an amount not exceeding $5,000,000 be issued <br />to finance the cost of the acquisition of beachfront land on the <br />Atlantic Ocean in the County, for recreational purposes; together <br />with other purposes necessary, appurtenant or incidental thereto <br />(herein called the "Project"), including all costs of the issuance <br />of the bonds. <br />B. The issuance of such bonds was approved by a <br />majority of votes cast in a bond election held on November 2, <br />1982, by the qualified electors of the County in the manner <br />required by the Constitution and Laws of Florida. <br />C. The cost of such project is estimated to be $5,000,000. <br />Such cost shall be payable from ad valorem taxes levied on all <br />taxable property in the County without limit as to rate or amount. <br />Such cost may also include, but not be limited to, architectural, <br />inspection, legal, fiscal and accounting expenses; bond discount, if <br />any; the cost of issuance of the bonds, including engraving, <br />printing, advertising and other similar expenses; and such other <br />costs and expenses as may be necessary or incidental to the financing <br />herein authorized and the acquisition of the <br />�9 <br />&Intl 1 ri en <br />nn Boor. ur. FK;at "a'LL-J�� <br />!Y U V 1 ( 1JU <br />