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BOOK ih muE ; <br />TO: Members of the Board of County Commissioners <br />DATE: November 4, 1999 <br />SUBJECT: TEFRA (TAX EQUITY FISCAL RESPONSIBILITY ACT) HEARING <br />ESCAMBIA HOUSING MORTGAGE PROGRAM <br />INDUSTRIAL REVENUE BOND <br />FROM: Joseph A. Baird <br />OMB Director <br />The Board of County Commissioners at its regular meeting of October 19, 1999 approved <br />holding a TEFR.A (Tax Equity Fiscal Responsibility Act) hearing to enable Escambia Housing to <br />apply for District 9B Industrial Bond Allocation from the State so that Escambia County <br />Housing Finance Authority can issue Single Family Mortgage Revenue Bonds Series in an <br />amount not to exceed $100,000,000. <br />Following the Public Hearing, if the Board of County Commissioners wishes to grant Escambia <br />Housing the ability to apply for the Industrial Revenue Bond Allocation in District 9B, the Board <br />must approve the Resolution, Interlocal Agreement and authorize the Chairman and staff to sign <br />all necessary documents. <br />Staff recommends that the Board of County Commissioners approve the Resolution, Interlocal <br />Agreement and authorize the Chairman to sign all necessary documents. <br />The Chairman opened the public hearing and asked if anyone wished to be heard in <br />this matter. There being none, the Chairman closed the public hearing. <br />NOVEMBER 16, 1999 <br />• -46- <br />• <br />