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<br />RESOLUTION NO. 97- 43
<br />A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA
<br />APPROVING ISSUANCE OF NOT TO EXCEED
<br />$10,000,000 INDIAN RIVER COUNTY, FLORIDA
<br />INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES
<br />[TO BE DETERMINED] (OCEAN SPRAY CRANBERRIES,
<br />INC. PROJECT) PURSUANT TO SECTION 147(f) OF
<br />THE INTERNAL REVENUE CODE OF 1986; PROVIDING
<br />CERTAIN OTHER MATTERS IN CONNECTION THEREWITH;
<br />AND PROVIDING AN EFFECTIVE DATE.
<br />WHEREAS, Section 147(f) of the Internal Revenue Code of 1986,
<br />as amended (the "Code"), requires as a condition of exclusion from
<br />gross income for federal income tax purposes of the interest on
<br />private activity bonds, that the issuance of private activity
<br />bonds, as defined in Section 141(a) of the Code, such as the Indian
<br />River County Industrial Development Revenue Bonds, Series [To Be
<br />Determined] (ocean Spray Cranberries, Inc. Project) in a principal
<br />amount not to exceed $10,000,000 (the "Bonds") be approved, after
<br />a public hearing following reasonable public notice, by the
<br />governmental unit on behalf of which such obligation is to be
<br />issued and the governmental unit having jurisdiction over the area
<br />in which the private activity bond -financed facility is to be
<br />located; and
<br />WHEREAS, the Board of County Commissioners of Indian River
<br />County on April 21, 1997, published a notice of a public hearing in
<br />the Press Journal, a newspaper of general circulation in Indian
<br />River County, Florida, to be held at 9:00 a.m. on May 6, 1997, in
<br />the Commission Chambers, 1840 25`h Street, Vero Beach, Florida, to
<br />consider the Bonds and the location and nature of the project to be
<br />financed with the proceeds of the Bonds; and
<br />WHEREAS, the public hearing so noticed, as indicated by the
<br />affidavit of the publisher of the Press Journal attached hereto as
<br />Exhibit A, was duly held on May 6, 1996.
<br />BE IT RESOLVED, by the Board of County Commissioners of Indian
<br />River County, Florida:
<br />SECTION 1. TEFRA APPROVAL. The issuance by Indian River
<br />County, Florida of its not to exceed $10,000,000 Indian River
<br />County, Florida Industrial Development Revenue -Bonds, Series [To Be
<br />Determined] (Ocean Spray Cranberries, Inc. Project), in one or more
<br />series at one or more times, for the purpose of providing financing
<br />for the acquisition, rehabilitation and expansion of an
<br />approximately 23,000 square foot solid waste disposal facility (and
<br />directly related office and support facilities) located at 925 74`h
<br />Avenue, S.W., Vero Beach, Florida, which facility will process
<br />MAY 69 1997 47 fic _01 PnE Qu
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