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WHEREAS, financing will be provided through the sale of <br />taxable bonds, unconnected to the County; and <br />WHEREAS, the County is not financially or otherwise connected <br />to this project; and <br />WHEREAS, the County has not received a formal application nor <br />detailed plans for the project and therefore cannot endorse the <br />project design nor location, but has determined that the program as <br />described by the applicant would benefit Indian River County; and <br />WHEREAS, the CIDC needs this resolution of support to provide <br />proof to the IRS that CIDC is fulfilling its charter purpose by <br />lessening the burdens of local governments. <br />NOW THEREFORE, BE IT RESOLVED by the Board of County Commissioners <br />of Indian River County, Florida that: <br />Section 1. <br />The Board of County Commissioners supports the concept of the <br />program proposed by CIDC to construct a lease - to - own <br />affordable housing project for low and moderate income persons <br />in the county. <br />Section 2. <br />The Board of County Commissioners hereby declares that the <br />county, through this resolution, is not approving the project <br />design, location nor endorsing the project management. <br />Section 3. <br />The Board of County Commissioners declares that the Board is <br />not associated with and is not liable for the sale of any <br />taxable bonds associated with this project. <br />Section 4. <br />This resolution will not bind the County to provide any <br />financial support to the project. <br />September 22, 1998 <br />93 <br />BOOK 10,E PAGE IOU <br />