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N <br />RESOLUTION NO. 96- 29 <br />A RESOLUTION OF TEE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY, FLORIDA, ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN <br />EXPENDITURES IN CONNECTION WITH THE CITY OF SEBASTIAN WATER <br />EXPANSION PLAN, PHASE III PROJECT FROM THE PROCEEDS OF FUTURE <br />BOND ISSUES, AND PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, Indian River County, Florida (the County) expects <br />to make certain expenditures in connection with the City of <br />Sebastian Water Expansion Plan, Phase III Project of the County; <br />and <br />WHEREAS, the County intends to reimburse itself for said <br />expenditures from the proceeds of future bond issues; <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: <br />1. The County expects to make certain expenditures in <br />connection with the City of Sebastian Water Expansion <br />Plan, Phase III Project of the County (the Project.) <br />The County intends to finance said expenditures by the <br />issuance of one or more future bond issues. Some or <br />all of said expenditures are expected to be paid prior <br />to the issuance of said future bond issues. Therefore, <br />said expenditures will be paid from the Utility <br />Operating Fund, the Utility Impact Fee Fund, and the <br />Utility Special Assessment Project Fund of the County. <br />The county intends to reimburse said funds for said <br />expenditures out of the proceeds of said future bond <br />Issues expected to be used for said reimbursement is <br />$2,900,000.00. Said expenditures include, without <br />limitation expenditures for the acquisition, <br />construction, furnishing and equipping the Project; for <br />reports, studies, and projections in connection with <br />the Project; and for other items directly related to <br />the Project. <br />