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ON MOTION by Commissioner Adams, <br />SECONDED by Commissioner Stanbridge, the <br />Board unanimously adopted Resolution 99-047 <br />expressing the intent of Indian River County, Florida <br />to loan funds for the financing and refinancing of the <br />acquisition, construction, and equipping of <br />educational facilities in Indian River County, <br />Florida; providing for the lending of funds for such <br />purpose to Saint Edward's School, Incorporated or <br />its successors or assigns; providing for the issuance <br />of Industrial Development Revenue Bonds of the <br />County in an aggregate principal amount not to <br />exceed $18,000,000 for the purpose of making a <br />loan of funds to finance all or a portion of the cost of <br />such projects; authorizing the execution of a <br />Memorandum of Agreement pertaining to the <br />issuance of such bonds; and providing certain other <br />details with respect thereto. <br />MEMORANDUM OF AGREEMENT IS ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />RESOLUTION NO. 99- 4 7 <br />A RESOLUTION EXPRESSING THE INTENT OF INDIAN RIVER <br />COUNTY, FLORIDA TO LOAN FUNDS FOR THE FINANCING AND <br />REFINANCING OF THE ACQUISITION, CONSTRUCTION, AND <br />EQUIPPING OF EDUCATIONAL FACILITIES IN INDIAN RIVER <br />COUNTY, FLORIDA; PROVIDING FOR THE LENDING OF FUNDS <br />FOR SUCH PURPOSE TO SAINT EDWARD'S SCHOOL, <br />INCORPORATED OR ITS SUCCESSORS OR ASSIGNS; PROVIDING <br />FOR THE ISSUANCE OF INDUSTRIAL DEVELOPMENT <br />REVENUE BONDS OF THE COUNTY IN AN AGGREGATE <br />PRINCIPAL AMOUNT NOT TO EXCEED $18,000,000 FOR THE <br />PURPOSE OF MAKING A LOAN OF FUNDS TO FINANCE ALL OR <br />A PORTION OF THE COST OF SUCH PROJECTS; AUTHORIZING <br />THE EXECUTION OF A MEMORANDUM OF AGREEMENT <br />PERTAINING TO THE ISSUANCE OF SUCH BONDS; AND <br />PROVIDING CERTAIN OTHER DETAILS WITH RESPECT <br />THERETO. <br />BE IT RESOLVED by the BOARD OF COUNTY COMMISSIONERS <br />(the "Board') of INDIAN RIVER COUNTY, FLORIDA, that: <br />MAY 189 1999 <br />X55- BOOK F"� =� a <br />