Laserfiche WebLink
Assistant Administrator Baird explained the Escambia County Housing program <br />utilizes tax exempt interest rates so low- and moderate -income first-time home -buyers can <br />get a preferred mortgage rate on their homes. The County has issued bonds involved in this <br />program for over seven years. The purpose is to help low-income people get into their own <br />home and get the preferred interest rate. <br />The Chairman opened the public hearing and asked if anyone wished to be heard in <br />this matter. There being none, she closed the public hearing. <br />ON MOTION by Commissioner Tippin, SECONDED BY <br />Commissioner Stanbridge, the Board unanimously (4-0, Vice <br />Chairman Ginn absent) adopted Resolution 2000-120 <br />authorizing the Escambia County Housing Finance Authority to <br />operate within the boundaries of IndianRiver County, to finance <br />qualifying single-family mortgage loans on behalf of Indian <br />River County; authorizing the Board to enter into agreements <br />with the Escambia County Housing Finance Authority and to <br />execute and deliver certain documents and instruments in <br />connection therewith; approving a form of interlocal agreement; <br />approving the issuance by the Escambia County Housing <br />Finance Authority ofnot exceeding $100,000,000 Single -Family <br />Mortgage Revenue Bonds, Series 2001(multi-countyprogram), <br />pursuant to Section 174(f) of the Internal Revenue Code of <br />1986, as amended; providing that such bonds constitute limited, <br />special obligations; and providing an effective date. <br />October 3, 2000 - <br />80 <br />BK 115 PG 318 <br />