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• <br />of homes, such as this. He explained that the law requires that the County must determine <br />it is in the public interest before the benefits are given. <br />It was determined that no one else wished to be heard and the Chairman closed the <br />public hearing. <br />ON MOTION by Commissioner Adams, SECONDED BY <br />Commissioner Stanbridge, the Board unanimously adopted <br />Resolution 98-131 approving a first amendment to an interlocal <br />agreement and the issuance of revenue bonds in an amount not <br />to exceed $16,000,000 by the Palm Beach County Health <br />Facilities Authority and authorized the Chairman to execute the <br />first amendment to the interlocal agreement. <br />RESOLUTION NO. R-98-131 <br />RESOLUTION OF THE BOARD OF THE COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, APPROVING A FIRST AMENDMENT TO AN <br />INTERLOCAL AGREEMENT AND <br />THE ISSUANCE OF REVENUE BONDS IN AN AMOUNT NOT TO <br />EXCEED $16,000,000 BY THE PALM BEACH <br />COUNTY HEALTH FACILITIES AUTHORITY <br />WHEREAS, the Palm Beach County Health Facilities Authority (the "Authority") is <br />considering the issuance of not to exceed $16,000,()00 aggregate principal amount of one or <br />more series of its revenue bonds (the "Bonds"); and <br />WHEREAS, the proceeds of the Bonds will be used by the Authority to make a loan to <br />ACTS Retirement -Life Communities, Inc. (formerly known as Adult Communities Total <br />Services, Inc. and defined herein as "ACTS") to be used to (i) finance or refinance the <br />acquisition, construction, equipping and improving of the existing facilities of ACTS, as <br />further described as follows: <br />Name of Project <br />St. Andrew's Estates <br />North <br />Edgewater Pointe <br />Estates <br />November 24, 1998 <br />Location <br />6152 North Verde Trail, <br />Boca Raton <br />(Palm Beach County) <br />Florida 334334402 <br />23315 Blue Water <br />Circle, Boca Raton <br />(Palm Beach County) <br />Florida 33433-7053 <br />21 <br />Description of Existing <br />Facility <br />272 independent living <br />units, central facilities <br />and a 120 -bed medical <br />care facility <br />354 independent living <br />units, central facilities, <br />54 assisted living units <br />and a 99 -bed medical <br />care facility <br />Projects to be Financed <br />Miscellaneous capital <br />improvements and <br />renovations and the <br />acquisition of capital <br />equipment <br />Miscellaneous capital <br />improvements and <br />renovations and the <br />acquisition of capital <br />equipment <br />BOOK 107 PnE,703 <br />