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V <br />RESOLUTION NO. 99-47 <br />A RESOLUTION F.XPRESSINO THE INTENT OF INDIAN RIVER <br />COUNTY, FLORIDA TO LOAN FUNDS FOR THE FINANCING AND <br />REFINANCING OF THE ACQUISITION, CONSTRUCTION, AND <br />EQUIPPING OF EDUCATIONAL FACILITIES IN INDIAN RIVER <br />COUNTY, FLORIDA: PROVIDING FOR THE LENDING OF FUNDS <br />FOR SUCH PURPOSE TO SAINT EDWARD'S SCHOOL, <br />INCORPORATED OR ITS SUCCESSORS OR ASSIGNS. PROVIDING <br />FOR THE ISSUANCE OF INDUSTRIAL DEVELOPMENT <br />REVENUE BONDS OF THE COUNTY IN AN AGGREGATE: <br />PRINCIPAL AMOUNT NOT TO EXCEED $18,000.000 FOR THE <br />PURPOSE OF MAKING A LOAN OF FUNDS TO FINANCE ALL Oft <br />A PORTION OF THE COST OF SUCH PROJECTS; AUTHORIZING <br />THE EXECUTION OF A MEMORANDUM OF AGREEMENT <br />PERTAINING TO THE ISSUANCE OF SUCH BONDS: AND <br />PROVIDING CERTAIN OTHER DE'T'AILS WITH REsPEc <br />THERETO. <br />BE IT RESOLVED by the BOARD OF COUM COMMISSIONERS <br />(t1w Aioard") of INDIAN RIVER COUNTY, FLORIDA. that: <br />SECTION L AVIIIORITY. This Resolution is adopted pursuant to <br />the provisions of Part I1 of Chapter 159, Florida Statutes. Chapter 125, Florida <br />Statutes, and other applicable provisions of law. <br />SECTION 2. DEFINITIONS. <br />A. "Act" means Part 11 of Chapter 159, Florida Statutes, Chapter <br />1215, Florida Statutes, and ether applicable provisions of law. <br />B. "Bonds" or "Bond" means the proposed Indian River County, <br />Florida, Industrial Development Revenue Bonds (Saint Edward's School, <br />Incorporated Project), Series 1999, to be issued in an aggregate principal amount <br />not exceeding $18,000,000 to be authorized by subsequent resolution of the Issuer <br />pursuant to the Act and in accordance with the terms, conditions and limitations <br />contained in such resolution. <br />C. "Borrower" means Saint Edward's School, Incorporated, a <br />Florida not-for-profit corporation, and its successors or assigns who have been <br />approved by the Issuer. <br />D. "Chairman" means the Chairman or the Vice Chairman of the <br />Board. <br />