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r- - <br />MF 107 FACE 89 -1 <br />Section 2. In furtherance of the purposes set forth in Section 1 hereof the <br />Chairman or Vice -Chairman and Clerk or Deputy Clerk of the Indian River Board <br />men e <br />hereby authorized to execute such consents, intergovernmental o implement such <br />applications, instruments or other documents <br />s shall b payment required Indian River County's <br />single family housing program and top P Ym but not <br />proportionate s such of <br />all as shall be approved by costs of the costs thereof. co nseI to Indian River County. <br />of issuance of <br />Section 3. The Interlocal Agreement, in substantially the form attached <br />hereto as Exhibit "K. and made a part hereof, between Indian River County and the <br />River County are. hereby <br />Authority is hereby approved. The °�oers of n Indian half of Indian River County, <br />authorized to enter into such interlocal agreementssame may <br />with such changes not inconsistent to beconclusivewith evidence of such athe officers pproval. The <br />approve, such execution and deliveryare hereby further authorized to execute <br />appropriate officers of Indian River County be necessary to implement <br />and deliver such other documents and instruments utatLOn, application for up to the <br />such Interlocal Agreements. including. ursuant to Chapter 159, <br />maximum available private activity bond volume allocations p <br />Part VI, Florida Statutes, for the purposes set forth in the Interlocal Agreement. <br />Section 4. The Indian River Board hereby approves, within the meaning of <br />e by the <br />Section 147(f) of the Code, the Authority's plan of Seance and the <br />Family cMortgage <br />Authority from time to time of not exceeding $10ignate000 Sing <br />Revenue Bonds, Multi -County Program In designated o Series ion for funding <br />the Authority's program for Mortgage Loans. and such other action to be taken <br />pursuant r the Escambia Resolution or Chapter 159, Part IV, Florida Statutes. <br />Sections. The principal of and premium. if any. and interest on the Bonds <br />Bets required under the proposed financing agreements. the proincludinceeds <br />ghee <br />and all payor able solely by `the Authority from <br />Interlocal Agreement, shall be pay financing agreements. and Indian River <br />derived by the Authority under the proposed within its <br />County shall never be required to (i) levy ad valorem taxes on any property <br />a the principal of and premium. if any, and interest on the Bonds <br />territorial limits to p Y rovided for under the proposed financing agreements, <br />or to make any other payments p whatsoever. Adoption of <br />or (ii) pay the same from any funds of Indian River County funds of Indian <br />this Resolution does not authorize or commit the expenditure of any <br />River County to pay the costs of issuance of such Bonds. The Bonds are limited, <br />special obligations and orida, Indian River <br />will not constitute a debt CounState or°thel Authority other <br />County. Escambia CouStY. or other participating solely from payments <br />participating Housing Finance Authorities, but will be payable ulti-County single Family <br />made from the revenues generated from the Escambia M <br />Mousing Program. <br />Section 6. All resolutions or parts thereof of the Indian River Board in <br />conflict with the provisions herein contained are, to the extent of such conflict, hereby <br />superseded and repealed. <br />Section 7. This Resolution shall take effect immediately upon its adoption. <br />Duly adopted in the aFQULkL <br />session this , I s day of i=CEM 1998. <br />EM&N RIVER COUNTY, FLORIDA <br />BY4ommisssioners <br />&0� <br />d ounty <br />(SEAL) Its <br />JOHN W. TIPPIN <br />ATTEST: <br />BY: d of Coun ommissi ersn <br />Its: Cl l_ <br />DECEMBER 15,1998 <br />