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t RESOLU`T'ION N0. 83-101 A RESOLUTION PROVIDING FOR THE FINANCING OF THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF CERTAIN CAPITAL IMPROVEMENTS CONSTITUTING INDUSTRIAL FACILI- TIES FOR THE FURNISHING OF WATER OR FOR THE COL- LECTION, STORAGE, TREATMENT, AND FINAL DISPOSITION OF SEWAGE, OR BOTH, TO BE OWNED AND OPERATED BY GENERAL DEVELOPMENT UTILITIES, INC.; AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $4,020,000 VARIABLE RATE DEMAND UTILITY REVENUE BONDS (GENERAL DEVELOPMENT UTILITIES, INC. PROJECT); PROVIDING FOR THE LOAN OF THE PROCEEDS FROM THE SALE OF SUCH BONDS TO THE BORROWER TO PAY THE COST OF THE PROJECT; PROVIDING FOR THE RIGHTS OF THE HOLDERS OF SUCH BONDS; PROVID- ING FOR THE PAYMENT THEREOF; MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS; AND PROVIDING AN EFFECTIVE. DATE. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: SECTION 1. AUTHORITY FOR THIS RESOLUTION. This resolution, here- inafter called "instrument," is adopted pursuant to the provisions of Chapter 159, Part II, Florida Statutes (the "Act"), and other applicable provisions of law. SECTION 2. DEFINITIONS. Unless the context otherwise requires, the terms used in this resolution shall have the meanings specified in the Trust Indenture (the "Indenture"), the Loan Agreement (the "Loan Agreement"), the Guarantee Agreement (the "Guarantee"), and the Remarketing Agreement (the "Remarketing Agreement"), attached hereto as Exhibits "A", "B", "C", and "D", respectively. SECTION 3. FINDINGS. It is hereby ascertained, determined and declared as follows A. Indian River County, Florida (the "Issuer"), is authorized by the Act to make and execute financing agreements, contracts, deeds and other instruments necessary or convenient for the purpose of facilitating the financing of the acquisition, construction and equipping of projects as defined in the Act, including machinery, equipment, land, rights in land and other appurtenances and facilities related thereto, to the end that the Issuer may be able to promote the economic growth of the State of Florida, increase opportunities for gainful employment and otherwise contribute to the welfare of the State of Florida and its inhabitants, and to finance the cost of such projects by the issuance of its revenue bonds. B. General Development Utilities, Inc., a Florida corporation (the "Bor- rower") wishes to finance the acquisition, construction and equipping of certain capital ^ ^*—P..stituting industrial facilities for the furnishing of water or for the collection, storage, treatment, and final disposition of sewage, or both (the "Project"). LK L -9/06/83-#218B Rev.9/15/83 Rev.9/16/83 -1-