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<br />First: That this Board hereby elects to invoke and does hereby accept and adopt the
<br />provisions of Paragraph (d) of Chapter 15891, Laws of Florida, Acts of 1933, commonly known as
<br />the "Kanner Bill", being paragraph (d) Section 2470 (14), Compiled General Laws of Florida,
<br />1934 Supplement.
<br />Second; That any and all moneys derived from the gasoline tax and now or hereafter
<br />credited to the account of this County or road and bridge districts therein, shall be used for
<br />the purpose of purchasing at a price below the par value thereof and at the lowest acceptable
<br />offer, subject to the specific limitations hereinafter prescribed, any road and bridge bonds of
<br />this County or of such districts therein; that the exclusive use of such funds by the State
<br />Board of Administration for the purchase of such County and District bonds to which such moneys
<br />as credited to this County would be applicable, is hereby sanctioned and approved; and that the
<br />State Board of Administration is hereby authorized and requested, until further notice, to use
<br />such funds exclusively for the purchase of such bonds in open market transactions in accordance
<br />with the general provisions of said 1933 Act, and subject to the following limitations, as
<br />specifically provided in paragraph (g) thereof:
<br />(a) Bonds of all issues to which said gasoline tax has been or may be allocated or
<br />credited severally, shall be eligible for purchase hereunder, with the exception of bonds of
<br />the Atlantic -Gulf Special Road and Bridge District, Vero Bridge District, and Fellsmere Cross
<br />State Road, which are hereby specifically excluded from the terms of this resolution.
<br />(b) This Board reserves the right to have submitted to it for approval or rejection
<br />any bid or bids received by the State Board of Administration before final acceptance 1�y the
<br />State Board.
<br />Third: That This Board hereby expressly reserves to itself in respect to limiting,
<br />amending or modifying the terms of this resolution, all of the rights and privileges accorded
<br />it under the provisions of Paragraph (g) of said mentioned Act.
<br />Fourth: That a certified copy of this resoldtion Be furnished the State Board of
<br />Administration.
<br />Motion for the adoption of the resolution being; duly seconded, it was declared
<br />adopted by the following vote:
<br />Ayes: Michael, Glover and Vickers.
<br />Nayes: None.
<br />to -wit:
<br />RESOLUTrON
<br />Commissioner Glover, introduced the following resolution and moved its adoption,
<br />WHEREAS, This Board has -heretofore, by resolution duly and legally adopted, author-
<br />ized and ordered the issuance of Bridge Refunding Bonds bearing date of January 1, 1938, for
<br />Wabasso Bridge District, in Indian River County, for exchange for presently outstanding bonded
<br />indebtedness and interest matured and accrued to January 1, 1938; and Road and Bridge Refunding
<br />Bonds bearing date of January 1, 1937 for Special Road &.Bridge District No. 4, Indian River
<br />County, for exchange for presently outstanding bonded indbbtedness and interest matured and ae
<br />crued to January 1, 1937; and
<br />WHEREAS, it is anticipated that, in the course of this refunding operation, some of
<br />the securities of the original issue of said Districts may be required to be paid and not ex-
<br />changed for said Refunding Bonds in .-w%i oh event it will . beoome necessary to cancel Riatunding
<br />Bonds in an amount equivalent to any such original securities so p#Lid;
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<br />NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Indian River
<br />County, Florida, in Regular session duly assembled, this 6th day of Sept., A. D. 1938:
<br />1. That the State Treasurer, as ex officio Cmunty Treasurer of the County of Indian
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