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Name of Project <br />St. Andrew's Estates <br />South <br />Indian River Estates <br />East <br />Indian River Estates <br />West <br />Location <br />6045 South Verde Trail <br />Boca Raton <br />(Palm Beach County) <br />Florida 334334402 <br />2250 Indian Creek Blvd. <br />West, Vero Beach <br />(Indian River County) <br />Florida 32966-1395 <br />7730 Indian Oaks Drive, <br />Vero Beach <br />(Indian River County) <br />Florida 32966-5133 <br />BOOK D-7 PAGE 'iNk <br />Description of Eadstimg Projects to be Financed <br />Facility <br />317 independent living <br />units, central facilities <br />and 40 assisted living <br />units <br />349 independent living <br />units, central facilities, <br />71 assisted living units <br />and a 100 -bed medical <br />care facility <br />173 independent living <br />units and central <br />facilities <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 />Miscellaneous capital <br />improvements and <br />renovations and the <br />acquisition of capital <br />equipment, including, <br />but not limited to, the <br />construction of 70 <br />independent living units <br />and the acquisition of an <br />approximately 10 -acre <br />tract of land located on <br />the south side of 26d' <br />Street, between 82 Id <br />Avenue and 74th <br />Avenue, adjacent and <br />contiguous to the <br />existing facilities, being <br />property appraiser's <br />Parcel Identification <br />Number 01-33-38- <br />00001-003040001.0. <br />(ii) finance the costs of capitalized interest; (iii) fund a portion of the 1998 Master Reserve <br />Fund; and (iv) pay all or a portion of the expenses incurred in connection with the issuance of <br />the Bonds; and <br />WHEREAS, the Facilities are owned and operated by ACTS; and <br />WHEREAS, the Authority proposes to finance two of the projects located in Indian <br />River County pursuant to a First Amendment to an Interlocal Agreement previously executed <br />and authorized by Section 163.01(4), Florida Statutes with the Board of County <br />Commissioners of Indian River County, Florida; and <br />WHEREAS, pursuant to the requirements of Section 147(f)(2)(A)(ii) the Internal <br />Revenue Code of 1986 (the "Code") as a prerequisite to the issuance of the Bonds it is <br />necessary that the Board of County Commissioners of Indian River County approve the <br />issuance thereof after said public hearing; and <br />WHEREAS, the Board of County Commissioners of Indian River County desires to <br />evidence its approval of the issuance of said Bonds solely to satisfy the requirements of the <br />Code and its authorization of the Interlocal Agreement. <br />November 24, 1998 <br />22 <br />• <br />