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WHEREAS, the Board finds that granting certain ad valorem tax <br />exemptions is in the best interest of the citizens of Indian River <br />County, Florida, <br />NOW, THEREFORE BE IT RESOLVED by the Board of County <br />Commissioners of Indian River County, Florida that: <br />Hereby, the county created an "Economic Development Ad Valorem <br />Tax Exemptions Program," to read as follows: <br />Section 1.01 Short Title <br />This resolution shall be known as the "Economic Development Ad <br />Valorem Tax Exemption resolution." <br />Section 1.01 Enactment and Authority <br />This resolution is adopted pursuant to Section 3, Article VII <br />of the State Constitution and in accordance with Chapters 125 and <br />196, Florida Statutes. <br />Section 1.03 Jurisdiction <br />The area subject to this resolution shall be the total <br />geographical area of Indian River County. <br />Section 1.04 PFmpose and Intent <br />It is the purpose of this resolution to enhance the general <br />welfare of the county citizens by providing incentives for the <br />harmonious, orderly, and progressive development of new businesses <br />and the expansion of existing businesses within the county. The <br />intent of this resolution is to grant tax exemptions to certain <br />types of industrial businesses and corporate offices on a rational, <br />nonarbitrary, nondiscriminatory basis with latitude given to the <br />Board of County Commissioners to grant exemptions in their <br />legislative discretion. <br />Section 1.05 Definition• <br />The following words, phrases, and terms are defined as <br />follows: <br />(1) Economic Development Council - An advisory body of the <br />Board of County Commissioners on issues related to the <br />county's economic development. <br />K <br />