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RESOLUTION 2025- 023 <br />(ii) fund a debt service reserve fund for the Bonds, if required; and (iii) pay a portion of the costs <br />of issuance of the Bonds; and <br />WHEREAS, the County Commission conducted a public hearing on June 3, 2025, notice <br />of which hearing was published on May 23, 2025 in the Indian River Press Journal (a copy of <br />which notice is attached hereto as Exhibit "A" and incorporated herein), for the purpose of <br />considering the issuance of the Bonds by the Authority, in accordance with the requirements of <br />Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"). Said public <br />hearing disclosed no reason why the Bonds should not be issued; and <br />WHEREAS, Section 147(f) of the Code requires approval of the issuance of the Bonds by <br />the Board of County Commissioners of Indian River County, Florida (the "Board"), as the <br />"applicable elected representative" under Section 147(f) after a public hearing following <br />reasonable public notice; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: <br />Section 1. The Board, pursuant to, and in accordance with, the requirements set forth in <br />Section 147(f) of the Code, hereby approves the issuance of the Bonds by the Authority, in one or <br />more series at one or more times. <br />Section 2. The Bonds shall not constitute a debt, liability or obligation of the County, the <br />State of Florida (the "State") or any political subdivision or agency thereof other than the <br />Authority, or a pledge of the faith and credit of the Authority, the County, the State or of any <br />political subdivision or agency thereof, and neither the Authority, the County, the State nor any <br />political subdivision or agency thereof will be liable on the Bonds, nor will the Bonds be payable <br />2 <br />